Wangsu Technology plans to invest 300 million yuan in Sand.ai, holding 4.3963% of the shares

Wangsu Technology plans to subscribe for the A+round preferred shares issued by Sandai Cayman with its own funds of 300 million yuan. After the investment is completed, it will hold 4.3963% of its equity and provide 300 million yuan of convertible bonds to Shanghai Sandai Technology in advance to obtain A+round warrants. Sand.ai is mainly engaged in the research and development of visual content generation models and related application products.