Is Yu He a state-owned enterprise?

Yes, Yu He is a platform owned by Yu Lian Science and Technology, a quasi-unicorn enterprise. Yu Lian Science and Technology is a blockchain high-tech enterprise invested and incubated by Angels of Yangtze River Delta Research Institute in Tsinghua, Zhejiang.

Tsinghua Yangtze River Delta Research Institute of Zhejiang Province is a research institution jointly established by Zhejiang Provincial People's Government and Tsinghua University in the spirit of complementary advantages and common development, and belongs to an enterprise management institution.

A public institution refers to a social service organization organized by state organs or other organizations with state-owned assets for the purpose of social welfare and engaged in activities such as education, science and technology, culture and health.

Therefore, Yu He has a state-owned background.