On February 15, Jiangsu Dagang Co.Ltd(002077) announced that the company plans to jointly contribute to the establishment of Zhenjiang integrated circuit industry fund with Shanghai Linxin Investment Management Co., Ltd., Zhenjiang Dingfu information technology industry investment partnership (limited partnership), Shenzhen Linxin Investment Co., Ltd. and natural person Mr. Wu Hongbin (tentative name, subject to the registration and approval of the market supervision and administration authority).
According to the announcement, the scale of this industrial fund is RMB 100 million, of which, Jiangsu Dagang Co.Ltd(002077) as a limited partner plans to contribute 45 million yuan with its own funds. The industrial fund is managed by Shanghai Linxin Investment Management Co., Ltd. Jiangsu Dagang Co.Ltd(002077) said that this move is to further improve the ability of foreign investment, accelerate the development of the company’s integrated circuit industry, promote industrial extension and upgrading, and improve the company’s comprehensive competitiveness and overall value.
The agreement stipulates that the first three years of the partnership are the investment period, and the investment period of the partnership can be extended upon the proposal of the executive partner and the approval of the partners’ meeting. The withdrawal period is 2 years from the end of the investment period of the partnership. With the consent of the executive partner, the partnership may extend the duration of the partnership twice, one year each time. The extended period is the extended period of the partnership. During the withdrawal period and the extended period (if any), the partnership shall not carry out new investment.
The partnership will directly or indirectly invest in or engage in investment related activities in the Chinese mainland, where it is established or operated in the mainland or has other significant links with other Chinese mainland enterprises, including the shares of non listed companies or non-public offering shares or similar interests of listed companies. The investment field focuses on the integrated circuit field (mainly design, supplemented by others), and related application directions such as automobile, HD video and aiot. The investment stage is that the mature projects account for about 40% of the total project investment, and the growth and early projects account for about 60% of the total project investment.
