According to the announcement of Tunnel Co., Ltd., eight enterprises under the company and two professional investment institutions have jointly established the Shanghai Tunnel Innovation Private Investment Fund partnership, with a total fund pledge of 500 million yuan, mainly investing in smart infrastructure operations, digital infrastructure, green and low-carbon fields. The company's subsidiaries pledged a total of 300 million yuan, accounting for 60%; Hangzhou Xiaoshan Environmental Investment and Development Co., Ltd. and Xuzhou Xugong Industrial Investment Partnership each pledged 100 million yuan, accounting for 40% of the total. At present, the partnership has completed registration and has not yet completed the registration of the China Foundation Association. This transaction does not constitute a related transaction or major asset restructuring.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.