Kingway Investment (01328) led the subscription of approximately 5.19% equity in Grace Investment Machine Limited and reached a comprehensive strategic cooperation with it.

Zhtng Cijng APP News, Kingray Investment (01328) announced that the company, through its wholly-owned subsidiary RedpineEliteLimited, Grace Investment Machine Limited (GIM) signed a share purchase agreement. According to the agreement, the company will lead the subscription to the A-round preferred shares issued by GIM, with a consideration of $6.5 million. Upon completion of this subscription and all necessary procedures, the group will hold approximately 5.19% of the equity in GIM (on a fully converted and diluted basis), becoming a strategic shareholder of GIM, and the company intends to appoint a director to the GIM board. This A-round financing is jointly led by the company and B Capital, an investment firm led by Howard Morgan (co-founder of Renaissance Technologies, a quantitative hedge fund). Other investors in the A-round preferred shares include IDG Capital and Monolith Capital's respective affiliated parties.