Giant Network Group Co.Ltd(002558) on February 8, it was announced that the company plans to invest 450 million yuan with its own funds to acquire the 3.6% share of “Shanghai Yunfeng Xincheng Investment Center (limited partnership)” held by the related party giant Investment Co., Ltd. and become the limited partner of Yunfeng Xincheng. It is reported that giant investment is an enterprise controlled by Shi Yuzhu, the actual controller of the company, and this transaction constitutes a connected transaction.
It is reported that Yunfeng Xincheng is a RMB Private Equity Investment Fund (fund No.: sh1000) managed by Shanghai Yunfeng Xinchuang Investment Management Co., Ltd. established on February 3, 2016, with a fund scale of 10 billion yuan, and the general partner is Shanghai Zhongfu Asset Management Center (limited partnership). As of September 30, 2021, the fund has invested in 49 projects including Xiaopeng automobile, Yitu network and Hangzhou Raycloud Technology Co.Ltd(688365) and paid a total investment of 9.024 billion yuan, which are distributed in the fields of financial technology, new energy technology, enterprise services, medical and health care, new consumption, automobile intelligence and logistics services. The fund has a duration of 10 years, including an investment period of 5 years and an exit period of 5 years. At present, it has entered the exit period with clear and stable assets.
By the end of September 2021, Yunfeng Xincheng had total assets of 8.143 billion yuan and net assets of 8.100 billion yuan. In the first three quarters of 2021, it realized operating revenue of 561 million yuan and net profit of 454 million yuan. According to the book value of the fund disclosed in the fund investment report, the value of its 3.6% partnership interest is 452 million yuan.
Giant Network Group Co.Ltd(002558) said that this transaction is conducive to improving the use efficiency of idle funds, sharing the future income of the fund and improving the overall profitability of the company; At the same time, we can establish more connections with the industry with the help of the resources and capabilities of professional management institutions, which is conducive to the company’s insight into the social development trend, timely layout of new opportunities in relevant industries, and maximize the income of the company and shareholders.
