Huagong Tech's subsidiary plans to participate in setting up Ruiyuan Fund II with an amount not exceeding 76.5 million yuan.
(000988.SZ)Announcement: The company's wholly-owned subsidiary, Wuhan Huagong Technology Investment Management Co., Ltd. ("...
Huagong Tech (000988.SZ) announced that its wholly-owned subsidiary Wuhan Huagong Tech Investment Management Co., Ltd. ("Huagong Investment") plans to jointly establish Wuhan Huagong Ruiyuan No. 2 Venture Capital Fund Partnership Enterprise (Limited Partnership) with a professional institution using its own funds not exceeding 76.5 million yuan. The company will hold 21.86% of the property share of the Ruiyuan No. 2 Fund, and Huagong Investment will be a limited partner of the Ruiyuan No. 2 Fund.
The announcement stated that this investment will deepen innovation collaboration, utilize the advantages of Wuhan's scientific and technological resources, promote free flow and efficient allocation of innovation elements, and increase industrial agglomeration and relevance.
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