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CICT Mobile Attracted over 6 Billion Yuan in A round and B round of Financing

Updated:2021/7/13 13:18

On July 8, the launching event of China Information Communication Technologies Group Corporation (CICTG)’s 5G business entering Donghu High-tech District, Wuhan, Hubei and the signing ceremony between CICT Mobile and its strategic investors was held in Wuhan. CICT Mobile signed cooperation-related agreements with the High-tech District of Wuhan City and relevant contracts with strategic investors, announcing that it has attracted over 60 billion yuan in A round and B round of financing.

According to relevant agreements, CICTG will build a mobile communication industry part in Donghu High-tech District of Wuhan to cultivate a comprehensive regional 5G industrial chain and provide 5G based primary wireless communication device, corollary equipment and communication integration service, in the purpose of accelerating the development of vertical application of 5G technology.

CICT Mobile, as the entity responsible for the development of 5G business in Hubei, is a core backbone wireless communication enterprise. In 2018, Wuhan Research Institute of Posts and Telecommunications and Telecommunications Research Institute merged with each other and established CICTG. After integrating wireless communication technology industry resources in Wuhan and Beijing, CICT Mobile came into birth in October 2020 after the restricting of CICTG, activating the independent IPO listing procedure in Science and Technology Innovation Board of the company.

 Source:C114
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