Xinyi Information Technology, a provider of Internet of Things (IoT) intelligent terminal system SoC chips, recently closed nearly RMB 500 million in its Series B financing. The funds will primarily be used to strengthen chip research and development, improve the production manufacturing supply chain, and expand the management team. This financing was jointly led by CMB International Capital and CICCALPHA, with participation from China Merchants Capital, Ningbo Water Meter Group, Yachang Investment, and additional investments from existing shareholders FREES FUND, CD Capital, and SINOWISDOM.

CEC Capital served as the financial advisor in this transaction for Xinyi Information Technology.

Founded in 2017, Xinyi Information Technology is a high-tech enterprise specializing in the research and development of IoT intelligent terminal system SoC chips. Its products cover a diverse number of sectors, including communication, main control computation, sensors, power management, and security.