By Li Panpan

(JW Insights) Nov 17 -- Xingji Meizu (星纪魅族), the smartphone arm of Chinese auto manufacturer Geely, has completed series A financing, and it has raised a total of RMB2 billion ($276.07 million) this year with a post-investment valuation exceeding RMB10 billion ($1.38 billion), JW Insights has learned.

Xingji Meizu is expected to enter the automotive field with a series of organizational and personnel adjustments.

Automaker Geely's chairman Eric Li set up Xingji Technology in 2021 in Wuhan, China's Hubei Province after acquiring 79.09% of the controlling shares in Chinese smartphone brand Meizu. He estalished the Xingji Meizu group. On August 8, 2023, Xingji Meizu Group terminated its self-developed chip business.