Zhejiang Daily Digital Culture Group (600633.SH) plans to invest 20 million yuan in Hangzhou Mingzhi Entrepreneurship Investment Partnership Enterprise (limited partnership).

Zhejiang Daily Digital Culture Group (600633.SH) announced that on November 11, 2024, its wholly-owned subsidiary Zhejiang Smart Venture Capital (Zhejiang) Co., Ltd. (referred to as "Smart Venture") signed a partnership agreement with Huaxia Hengtian Capital Management Co., Ltd. (referred to as "Huaxia Hengtian") and 19 other corporate entities and individuals. It plans to subscribe for 20 million yuan as a limited partner, accounting for 12% of the total subscribed capital of 166.67 million yuan, to participate in the Hangzhou Mingzhi Venture Capital Partnership Enterprise (Limited Partnership) (referred to as the "Fund", "Partnership Enterprise"), which specializes in investing in Zhonghao Xinying (Hangzhou) Technology Co., Ltd. (referred to as "Zhonghao Xinying"). The Fund has been recorded by the China Securities Investment Fund Industry Association with code SAMM15. It is reported that Zhonghao Xinying was established on October 28, 2020, specializing in the research, design, and sales of artificial intelligence core chips used in various cloud servers, data centers, and other applications. Its main products include intelligent chips and basic system software platforms. After the Partnership Enterprise invests in Zhonghao Xinying, it will help the company to grow rapidly, gain shareholder dividends and capital appreciation, and arrange exits through IPOs, mergers and acquisitions, or company buybacks to achieve investment returns. This fund investment will help the company to expand into cutting-edge industries, explore the synergistic application of new technologies with the company's digital technology sector, broaden its investment scope, enhance investment returns, and realize capital appreciation.