According to the Zhitong Finance App, Cathay Pacific Haitong (02611) issued an announcement. On October 28, 2026, Cathay Pacific Haitong Kaiyuan, a wholly-owned subsidiary of the company, was approved to enter into a partnership agreement in due course to establish the Shanghai Pilot Science and Technology Innovation Fund Partnership (Limited Partnership) (the fund) in the form of a limited partnership. The fund was encouraged by Cathay Pacific Haitong Kaiyuan and International Asset Management as a daily business in March 2026. It aims to give full play to the strategic leading and driving role of long-term capital and patient capital in serving the country's strategy and supporting self-reliance and self-improvement at a high level of technology. The relevant investment terms are determined in accordance with general commercial terms and are generally the same as the terms of transactions of a similar nature carried out by Cathay Pacific Haitong Kaiyuan in the past.
According to the partnership agreement, Cathay Pacific Haitong Kaiyuan (as fund manager and general partner), ICBC Capital (as general partner), International Asset Management (as limited partner), and other investors (all as limited partners) are expected to make initial investments of RMB 4 billion, RMB 0.1 billion, RMB 2 billion and RMB 13.99 billion respectively into the fund as their daily business. It is anticipated that the fund will not be recorded as a subsidiary of the company after establishment.
As of the date of this announcement, the partnership agreement has not been signed. The company plans to sign it in the near future.
The Group has been planning to establish this fund since March 2026 to thoroughly implement the national planning strategy integrating scientific and technological innovation and industrial innovation to help the high-quality development of strategic emerging industries and future industries in Shanghai. The purpose of this transaction is to give full play to long-term patient capital advantages, overcome key core technologies in the industry, make up for shortcomings in the industrial chain, deepen innovation and technological iteration in science and innovation, lay out key science and innovation projects at the Shanghai level, cultivate high-quality science and innovation industry clusters, and promote the construction of the Shanghai International Science and Technology Innovation Center and financial center. Participating in and managing the fund will help the company introduce high-end global science and innovation resources, cultivate leading international enterprises, continue to accumulate cross-border science and innovation investment experience, and build a modern investment bank with comprehensive leadership and international competitiveness.