Beijing Danghong Qitian International Cultural Technology Development Group Co., Ltd. (referred to as "Danghong Qitian") completed hundreds of millions of yuan in Series C financing, funded by Huakong Fund, "China Vision Valley" Industrial Fund, NetEase, Guoke BOE, CITIC Centenary Assets, Jiahesheng Capital and Yecao Venture Capital jointly invested. According to the official website of Danghong Qitian, the famous director Zhang Yimou serves as its co-founder and also serves as the artistic director of Danghong Qitian.

Tianyancha data shows that as of now, Danghong Qitian has raised 8 rounds of financing. Among them, rounds B to B++ were concentrated between October 2021 and December 2022, when the Metaverse investment and financing was booming. It is worth noting that in these three rounds of financing, Lei Jun's Xiaomi Group, Ding Lei's NetEase Capital, and private equity funds of well-known companies such as CITIC Group and BlueFocus all participated.

Danghong Qitian is positioned as an overall solution and product implementation of "XR content production + vehicle development + digital operation", and its business covers multiple fields such as "XR+ theme park", "XR+ technology show", "XR+ e-sports", and "XR+ sports".

According to previous reports, in January this year, Danghong Qitian, in which Zhang Yimou holds shares and serves as a co-founder, raised a B++ round of financing. The amount of financing is unknown. NetEase participated in this round of investment through NetEase Media Technology (Beijing) Co., Ltd. #pepe