Zhongji Xuchuang announced that the wholly-owned subsidiary Zhongji Xuchuang Investment Co., Ltd. plans to subscribe for the investment share of the Hangzhou Guanghe Phase III Venture Capital Partnership with 50 million yuan of its own capital and become the limited partner of the partnership. After the investment is completed, it will hold 3.28% of the partnership's investment share. The total amount of capital pledged by the fund after this investment was 1,526 billion yuan. This foreign investment matter is within the authority of the company president to approve foreign investment, does not require review by the board of directors or shareholders' meetings, does not involve related transactions, and does not constitute a major asset restructuring. The fund mainly invests in early-stage and growth projects in the fields of artificial intelligence, hard technology, new materials, and green technology, medical technology, green and low-carbon, and cutting-edge technology. The initial period of existence is 8 years, of which the first 4 years are investment periods. The company said that this investment will continue to expand the company's investment layout in the field of technology and will not have a significant impact on the company's operating performance in the short term.

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.