Stock Code: Hunan Tv & Broadcast Intermediary Co.Ltd(000917) stock abbreviation: Hunan Tv & Broadcast Intermediary Co.Ltd(000917) Announcement No.: 202214
Bond Code: 112638 bond abbreviation: 18 Xiangdian 01
Hunan Tv & Broadcast Intermediary Co.Ltd(000917)
Announcement on investment and establishment of small and medium-sized enterprise development fund (Beijing) Dachen Technology (limited partnership)
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete without false records, misleading statements or major omissions.
1、 Overview of foreign investment
1. In order to further strengthen the company’s investment business, Hunan Tv & Broadcast Intermediary Co.Ltd(000917) and Shenzhen Dachen Caizhi Venture Capital Management Co., Ltd. (hereinafter referred to as “Dachen Caizhi”) plan to jointly invest and establish small and medium-sized enterprise development fund (Beijing) Dachen Technology (limited partnership) (tentative name, hereinafter referred to as “Dachen Technology Fund”). There are 2 tentative partners of Dachen Technology Fund, of which: Hunan Tv & Broadcast Intermediary Co.Ltd(000917) is a limited partner, with a subscribed capital of 150 million yuan; Dachen Caizhi is the general partner, with a subscribed capital contribution of 50 million yuan. After the registration of Dachen technology fund is completed, it will raise funds from social professional institutions. The total scale of the fund is expected to be RMB 2 billion. 2. This transaction does not constitute affiliated joint investment.
3. This foreign investment has been deliberated and approved at the 22nd Meeting of the sixth board of directors on March 18, 2022. According to the relevant provisions of the Listing Rules of Shenzhen Stock Exchange and the articles of association, the amount involved in this foreign investment does not exceed the decision-making authority of the board of directors of the company and does not need to be submitted to the general meeting of shareholders of the company for deliberation and approval.
2、 Basic information of partners
(I) general partner
Executive partner (fund manager): Shenzhen Dachen Caizhi Venture Capital Management Co., Ltd. (has completed the registration of private fund manager and filed with China Securities Investment Fund Association)
Registration No.: p1 Xiandai Investment Co.Ltd(000900)
Date of establishment: December 15, 2008
Registered address: 2303, special zone newspaper building, Shennan Avenue, Futian District, Shenzhen
Legal representative: Liu Qing
Major shareholders: Hunan Tv & Broadcast Intermediary Co.Ltd(000917) holds 20%, Shenzhen Dachen Venture Capital Co., Ltd. holds 35%, and the Dachen financial intelligence management team such as Liu daytime and Xiao Bing holds 45% in total.
Business scope: entrusted management of venture capital of venture capital enterprises; Venture capital consulting; Provide entrepreneurship management services for start-ups (except for projects prohibited by laws, administrative regulations and decisions of the State Council, and restricted projects can be operated only after obtaining permission); Equity investment; Financial consultation, enterprise management consultation and entrusted asset management (excluding securities, insurance, funds, financial business, talent intermediary services and other restricted items).
(II) limited partners
1 Hunan Tv & Broadcast Intermediary Co.Ltd(000917)
3、 Basic information of fund establishment
1. Fund Name: SME Development Fund (Beijing) Dachen Technology (limited partnership) (subject to the approval of relevant authorities)
2. Organizational form: limited partnership, that is, the general partner shall bear unlimited joint and several liability for the debts of the enterprise, and the limited partner shall be liable for the debts of the enterprise to the extent of his subscribed capital contribution.
3. Fund scale: estimated 2 billion yuan
4. Fund term: 3 years (investment period) + 5 years (exit period)
5. Fund investment: high growth enterprises focusing on intelligent technology and life science.
6. Executive partner: Shenzhen Dachen Caizhi Venture Capital Management Co., Ltd
7. Contribution amount:
Subscribed capital contribution
Name of partner and mode of capital contribution
(10000 yuan)
Hunan Tv & Broadcast Intermediary Co.Ltd(000917) currency 15000
Shenzhen Dachen Caizhi Venture Capital Management Co., Ltd. currency 5000
Total 200,00
After the registration of Dachen technology fund is completed, it will raise funds from social professional institutions.
6. Business scope: equity investment (the specific business scope shall be subject to the approval of relevant authorities)
4、 The purpose and possible risks of the company’s foreign investment
1. Purpose of this foreign investment and its impact on the company
The investment and establishment of Dachen technology fund is in line with the company’s strategic development direction, strengthens Dachen’s leading advantage in venture capital fund management, is conducive to consolidating the company’s investment business and further improving the company’s comprehensive competitiveness.
Dachen Caizhi has been selected as the proposed cooperative management organization of the third batch of sub funds of the National SME development fund Co., Ltd. After the establishment of Dachen science and technology fund this time, the subsequent contribution of the national small and medium-sized enterprise development fund Co., Ltd. shall not exceed 30% of the total share of the fund. Dachen Technology Fund will be Dachen Caizhi’s first fund with the national large fund as the cornerstone investor. It is also an important strategic measure for Dachen Caizhi to invest in the field of science and technology. The investment strategy will focus more on the field of hard science and technology, highlight the team’s scientific and technological investment ability and advantages, bring good investment returns to investors and promote Dachen Caizhi’s brand influence to a new level.
2. Possible risks of this foreign investment
The fund investment has the characteristics of long cycle and low liquidity. The investment has no fixed return commitment. There are risks of long investment cycle, certain uncertainty of income and failure to contribute profits to the company in the short term. Due to the particularity of the fund portfolio project, the fund investment may not be able to obtain a satisfactory price or even exit; In some cases, the fund’s sale or disposal of its investments will be restricted for a certain period of time. The company will pay close attention to the operation and management of investment funds and the implementation process of investment projects to reduce investment risks.
Hunan Tv & Broadcast Intermediary Co.Ltd(000917) board of directors
March 18, 2022
