Ziel Home Furnishing Technology (301376.SZ) plans to invest 10 million yuan in establishing a joint venture with Changsha Quanzhong Venture Capital to invest in the consumer goods industry.

Announcement by Ziel Home Furnishing Technology (301376.SZ): The company, as a limited partner, will use its own funds to jointly invest in the establishment of Changsha Quanzhong Entrepreneurship Investment Partnership Enterprise (Limited Partnership) with general partner and executive partner Suzhou Weiteli Xinchuangye Investment Management Co., Ltd. (referred to as "Suzhou Weiteli Xin") and other limited partners. The target fundraising size of the partnership enterprise is RMB 1 billion, with the initial fundraising size being RMB 652 million. Suzhou Weiteli Xin will contribute RMB 7 million as a general partner with its own funds. The company plans to contribute RMB 10 million with its own funds, holding a stake that accounts for 1.534% of the total initial fundraising amount of the partnership enterprise. It is reported that the fund will be based in Changsha and will have a nationwide reach, mainly investing in the consumer industry. The funds invested in this industry must not be less than 80% of the total paid-in amount of the fund.