HK Stock Market Move | YOFC (06869) rises over 5% as its subsidiary plans to invest 170 million yuan to establish the Changfei Intelligence Fund.
China Fiber Optic Network (06869) surged over 5%. As of the time of writing, it has risen by 5.02%, trading at HKD 100.3, with a transaction volume of HKD 256 million.
YOFC (06869) rose over 5%, and as of the time of writing, it is up 5.02%, trading at HKD 100.3, with a trading volume of HKD 256 million.
In terms of news, YOFC announced that its subsidiary, Changfei Capital, recently signed a partnership agreement with Wuhan Changfei Industrial Fund Management Co., Ltd., Jiangcheng Industrial Investment Fund (Wuhan) Co., Ltd., Bian Science and Technology Innovation Investment Fund (Wuhan) Co., Ltd., and the Ezhou Wue Cohesive Venture Capital Fund Partnership (Limited Partnership) for the "Changfei Jiangcheng Intelligent Venture Capital Fund (Wuhan) Partnership". They plan to subscribe to limited partnership interests in the Changfei Intelligent Fund. The total subscribed capital for the Changfei Intelligent Fund is RMB 500 million (with the final scale subject to the actual fundraising amount), of which Changfei Capital, as a limited partner, intends to contribute RMB 170 million, accounting for 34.00% of the total capital contribution to the Changfei Intelligent Fund.
The announcement states that the Changfei Intelligent Fund focuses on strategic emerging industries and future industry sectors such as artificial intelligence, high-end manufacturing, semiconductors, and integrated circuits, with a focus on investing in optoelectronic chips, optical interconnection, optical switching, intelligent terminal optical transmission, and related optical solutions. At the same time, it aims to expand its layout in the artificial intelligence and humanoid Siasun Robot & Automation industry chain, exploring businesses with core technologies in intelligent sensing, Siasun Robot & Automation bodies, control systems, and computing power. The Changfei Intelligent Fund is based in Hubei, deeply integrates into the local industrial development layout, nurtures high-quality local sci-tech innovation projects, introduces global innovative elements, and improves the synergetic innovation system of optoelectronic information and intelligent equipment, helping to seize the high ground in the future industries of artificial intelligence and humanoid Siasun Robot & Automation.
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