WANKA ONLINE invested RMB 30.6 million to increase the capital of the joint venture company Suzhou Jinglan Cloud Technology

AASTOCKS
2025.10.28 01:45

WANKA ONLINE (01762.HK) announced that its joint venture Suzhou Whale Cloud Technology Co., Ltd. has recently received an injection of RMB 60 million (the same below) in new registered capital. This capital increase aims to continue expanding its business scale and further consolidate its market leadership position. WANKA ONLINE, through its wholly-owned subsidiary Suzhou Longying, contributed RMB 30.6 million in cash to subscribe for the new registered capital of RMB 30.6 million, while the Huansiu Lake Xincheng Phase II Industrial Investment Fund contributed RMB 29.4 million. After the capital increase, WANKA ONLINE holds 51% of Suzhou Whale Cloud Technology.

The total amount of funds raised from this capital increase, RMB 60 million, will be used entirely to expand the joint venture's mobile advertising business scale and supplement working capital to support rapid business growth.

The Huansiu Lake Xincheng Phase II Industrial Investment Fund is a limited partnership established under Chinese law, directly owned by Suzhou High-speed Railway New City Innovation and Entrepreneurship Investment Co., Ltd. (as a limited partner) and Suzhou High-speed Railway Xincheng Private Equity Fund Management Co., Ltd. (as a general partner), holding 99% and 1% respectively.

WANKA ONLINE, together with the entities under the Suzhou High-speed Railway New City Management Committee, is increasing capital in the joint venture based on the broader development prospects of mobile internet advertising in the AI era. With the iterative development of AI technology, advertising placement is accelerating towards a "one-to-one" real-time algorithm model. The group possesses massive data and algorithm training samples, and the continuously upgraded AI marketing technology will bring significant business increments. In addition, this investment is also beneficial for the group to actively layout new businesses for the future

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