CIMC Group (02039) plans to contribute RMB 298.83 million to establish a fund in cooperation with professional institutions, stepping up layout in the energy storage industry chain.

Zhitong Finance APP News, CIMC (02039) announced that the company plans, through its wholly-owned subsidiary CIMC Capital Holdings, to jointly sign the "Shenzhen Yuanzhi CIMC Yuancun New Energy Storage Industry Equity Fund Partnership Enterprise (Limited Partnership) Partnership Agreement" with professional investment institutions Energy Storage Mother Fund, Yuanzhi Energy Storage (a wholly-owned subsidiary of Shenzhen Capital Group), and Shanhai Yuneng and Shenzhen Jiyuan (wholly-owned subsidiaries of Ronghe Yuancun), to jointly invest in and establish the Shenzhen Yuanzhi CIMC Yuancun New Energy Storage Industry Equity Fund (Limited Partnership) (tentative name, final name subject to approval by the industrial and commercial registration authority). The fund has a subscribed scale of RMB 1 billion, of which CIMC Capital Holdings plans to subscribe RMB 298.83 million as a limited partner, accounting for 29.88%. Yuanzhi Energy Storage plans to serve as the fund manager and executive partner of the fund.