China Zhongji Investment completed a targeted investment in "Hui Chang Communication" through a private placement.
Recently, China Zhongji Investment completed a targeted investment in Shanghai Huichang Communication Co., Ltd. (hereinafter referred to as Huichang Communication, stock code: 300578.SZ). Huichang Communication is a well-known domestic government and enterprise cloud video brand. Since its establishment, it has always focused on the field of audio and video communication services, continuously accumulating its own audio and video technology based on cloud computing, and has long been committed to building a next-generation cloud video communication and collaboration platform to provide the most comprehensive one-stop communication and collaborative office experience for large domestic government and enterprise users, aiming to "enable all large enterprises in China to use the company's cloud video platform" and become "China's best cloud video communication service provider."
Huichang Communication possesses the advantages of a full industry chain of "cloud + terminal + industry application" adaptable to the domestically produced architecture. Its wholly-owned subsidiary, Mingri Industry, as one of the largest domestic manufacturers of cloud video terminals, has established good and continuous cooperation with Internet giants and many leading companies in various industries, and enjoys the cost advantage of the supply chain brought by economies of scale. Its wholly-owned subsidiary, Shuzhiyuan, as an important foothold for Huichang Communication in the government vertical industry, also leads the expansion of the smart education industry through its deep understanding of the industry and channel capabilities. As a leading enterprise in China's cloud video industry, Huichang Communication, relying on its complete solution and supply chain capabilities of "cloud + terminal + industry application," provides highly controllable and secure services while better controlling costs through vertical integration advantages. Huichang Communication focuses on serving leading enterprises in various industries, including Fortune 500 companies, China's Top 500 Enterprises, and China's Top 500 Private Enterprises. In recent years, the company has actively expanded its domestic government and enterprise customers, providing software and hardware services to numerous government departments, central enterprises, state-owned enterprises, institutions, and China's Top 500 enterprises. The real-time audio and video network provided by the company has covered all continents except Antarctica. Its PSTN voice service business has the ability to provide local access in nearly 130 countries and regions worldwide, providing multilingual 7x24 online customer service to global customers to meet the diverse needs of customers worldwide. Wu Fushun, Partner and Managing Director of China Zhongji Investment, said that with the large-scale construction of 5G, ultra-high-definition video has become a popular 5G application. Its advantages of ultra-high speed, ultra-low latency, and ultra-large connectivity have provided strong support for the development of cloud video conferencing. The rapid growth of the COVID-19 epidemic has greatly promoted the demand for video conferencing related to remote office, remote education, and remote medical diagnosis, bringing a rapid growth opportunity for the cloud video industry. Huichang Communication, based on the first-tier audio and video team and underlying algorithms in China, has taken the lead in the domestic audio and video industry in opening up the full industry chain layout of "cloud + terminal + industry," in line with the development trend of China's digital transformation and online office for enterprises. This targeted increase will further enhance the company's technological innovation capabilities and product research and development and design capabilities, improve the company's leading technological position in the industry, and lead the industry's development.
