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Kuaishou issued an announcement stating that all conditions under the Beijing Kling capital increase agreement have been met, the investors have paid the capital increase in full, and the share purchase has completed delivery. According to the announcement, the total capital contributed by all investors is approximately RMB 19.80184 billion (approximately US$2.90533 billion). After delivery, controlling shareholder Lucky Labs holds 66.68% of the equity and 52.45% of the voting rights, while Alibaba, Tencent and Baidu hold 1.38%, 0.56% and 0.28% respectively. Previously, in July, Kuaishou announced that the scale of this financing would not exceed RMB 20.447 billion, and Dakang Lanwu and BFI MIDCO terminated the original capital increase agreement due to failure to pay on schedule. The capital increase delivery has now been completed.
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Kuaishou Kling AI Completes Delivery of 19.8 Billion Yuan Capital IncreaseDevelopments
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Kuaishou announces completion of capital increase delivery for Beijing Kling
Source:Phoenix Technology
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Oct 31
Phoenix Technology
Kuaishou Kling AI Completes Delivery of 19.8 Billion Yuan Capital Increase
Kuaishou announced that all conditions of the capital increase agreement for its video generation business Beijing Kling have been met, with total investor contributions of approximately 19.80184 billion yuan (about 2.90533 billion US dollars), and the share purchase has been completed and delivered. After delivery, controlling shareholder Lucky Labs holds 66.68% equity and 52.45% voting rights, while Alibaba, Tencent, and Baidu hold 1.38%, 0.56%, and 0.28% respectively. Previously in July, Kuaishou announced that the financing scale would not exceed 20.447 billion yuan, and Dakang Lanwu and BFI MIDCO terminated the original capital increase agreement due to failure to pay on schedule.
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