News today announced the formal completion of round B financing. Shanghai Cultural Industry Development Investment Fund (hereinafter referred to as the above investment fund) made an exclusive contribution of 400 million yuan to increase the capital and share of Shanghai Oriental newspaper Co., Ltd. (Oriental newspaper), the main news operator. After the completion of the capital increase, the company became the second largest shareholder. Shanghai newspaper group is still the controlling shareholder of news< Br > < div class = "height" > < / div > while announcing the round B financing news, the news released a new round of development strategy, and five new sectors involving content, technology and operation were fully launched. They are: intelligent media open platform, Mingcha Chinese and English website, science and technology channel, digital content ecological laboratory and ESG project. The news also launched government affairs and business service projects such as “China urban cultural brand plan”, “new consumer brand partner plan”, “good goods partner plan” and “urban renewal conference”< Br > < div class = "height" > < / div > news was officially launched on July 22, 2014, which is the forerunner of China’s traditional media transformation into the mobile Internet. Over the past eight years, news has steadily ranked first in the domestic mainstream media in terms of dissemination, influence, guidance and other indicators. It is reported that the news will take the opportunity of round B financing to comprehensively accelerate the business layout and further develop and transform into a leading, enabling and global Internet new mainstream media< Br > < div class = "height" > < / div > the above investment was jointly initiated by Shanghai municipal government, Pudong New Area Government and Shanghai industry (Group) Co., Ltd. and jointly established by Shanghai industry (Group) Co., Ltd., Shanghai Guosheng (Group) Co., Ltd. and Shanghai Pudong Science and Technology Innovation Group Co., Ltd., with a total scale of 12 billion yuan and a first phase of 5.55 billion yuan.