On the evening of July 18, Stormwind Group issued two announcements, saying that Stormwind Group Controls subsidiary Shenzhen Stormwind Commander Technology Co., Ltd. (hereinafter referred to as 'Storm Commander') is planning to increase capital and expand shares, intending to introduce strategic investors, and signed "Investment Letter of Intent on Shenzhen Storm Command Technology Co., Ltd." (hereinafter referred to as 'intention agreement' or 'this agreement')
According to the announcement, the investor of the investment proposal intends to increase the capital of the Storm Commander by cash of RMB 500 million. The specific investment amount and the equity structure of the target company completed this investment are subject to the investment agreement signed by the parties.
Storm Group said that Storm Commander is still in the market expansion period, and further development requires a lot of financial support. The storm commander plans to increase capital and expand shares. The main purpose is to carry out R&D investment and continuous product upgrade, continuously improve user experience and enhance product and service competition. Force, further seize the market share of the Internet TV, thereby improving the overall competitiveness of the storm commander.
In addition, according to another announcement, Feng Xin, Chairman and CEO of Storm Group, will serve as the Chief Product Officer of Storm Commander, further helping the Storm Command team in product, value-added revenue and system construction.