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Stability Control: High-Tech Companies Seek Funds for Stability Control During Epidemic

Amidst the novel coronavirus epidemic, about 300 Chinese companies are seeking a total of at least 57.4 Billion Yuan (US $8.2 Billion) in loans. Either the epidemic has hit them badly or they will participate in the control of the epidemic.

Among them, one is the facial recognition company, Megvii Technologies. It applied for 100 million Yuan (US $14 million) to enhance the facial recognition accuracy of people wearing masks.

Qihoo 360 also seeks 1 billion Yuan (US $140 million). It said that it will use the money to buy medical related products and develop an application to follow and prevent the coronavirus. Qihoo 360 is an Internet security company known for its antivirus software, web browser, and mobile application store.

Excerpt in Chinese:

总部位于北京的奇虎 360 正在寻求 10 亿人民币的贷款,以购买医疗相关产品,并为跟踪和遏制新冠病毒的应用程序提供资金;

面部识别技术公司旷视申请了 1 亿元人民币的贷款用于技术开发,其中包括提高在戴口罩的人群中进行人脸识别的准确性。

Source: Sina, February 11, 2020