Shanghai Sinotec (603121.SH) plans to establish a venture capital fund, with a focus on investing in cutting-edge technologies and intelligent manufacturing industries.

Shanghai Sinotec (603121.SH) announced that in order to accelerate the company's layout in the fields of automotive intelligence, sensors, and new energy, and to fully leverage the advantages of professional investment institutions in project resources, industrial ecology, and research capabilities in relevant fields, in order to further enhance the company's industrial integration capabilities and overall competitiveness. On November 18, 2024, the company signed a partnership agreement with Shanghai Yicun Private Equity Fund Management Co., Ltd. (referred to as "Yicun Private Equity") and other partners to establish the Wuxi Shengrui Entrepreneurial Investment Partnership Enterprise (Limited Partnership) through its own funds, with a focus on investment in frontier technology and intelligent manufacturing industries. The total subscribed capital of the fund is RMB 176 million, to be paid by all partners, and can be raised through multiple closings. The fund manager may increase the target fundraising scale of the partnership enterprise to RMB 500 million in the future. Currently, the fund will go through the first closing, with a total subscribed capital of RMB 176 million from 4 initiators, with the company planning to subscribe RMB 120 million as a limited partner with its own funds, accounting for 68.18% of the total subscribed capital.