[Wangsu Technology: Plans to invest 300 million yuan in video generation model company Sand.ai] On September 29th, Wangsu Technology (300017.SZ) announced that the company plans to make an equity investment in Sand.ai, and plans to invest 300 million yuan of its own funds to subscribe for the A+ series of preferred shares issued by Sandai Cayman. After the investment is completed, it will hold 4.3963% of Sandai Cayman’s equity. As a transitional arrangement, the company provided 300 million yuan in convertible bonds to Shanghai Sandai Technology in advance and obtained A+ round warrants. Sand.ai was established in January 2024 and is mainly engaged in the research and development of visual content generation models and video model-based application products.