China Telecom Tianyi Vision Union completes first round of capital increase to start a bidding war.

China Telecom Tianyi Visionlink Technology Co., Ltd. successfully completed the first round of capital increase battle, introducing six heavyweight strategic investors including China state-owned enterprise mixed reform fund, Hangzhou Data Group, Muxi Holdings, Industrial and Commercial Bank of China Investment, Hikvision, and Hillhouse Capital. During this capital increase battle process, an employee stock ownership plan was also implemented, with the company's management team, core members, and research and development team participating in this round of financing on equal terms with external investors.