Shanghai Xizhi Technology Co., Ltd. announced that it has received $210,000,000 in a round of funding on April 21, 2026. The transaction included participation from new investors, Alibaba Group Holding Limited, China Mobile Capital Holding Co., Ltd., Lenovo Group Limited, ZTE Corporation, Gulf Investment Corporation, Temasek Holdings (Private) Limited, BlackRock, Inc., Fidelity Fund Management (China) Co., Ltd, Baillie Gifford & Co., Bank of Communications Schroder Fund Management Co., Ltd., Hillhouse Investment Management, Ltd., Greenwoods Asset Management Limited, CPE Funds Management Limited, and ICBC Wealth Management Co., Ltd. The company has issued convertible preferred stock in the transaction.