On April 24, the listed company Baoxiniao Holding Co.Ltd(002154) announced that its wholly-owned subsidiary Baoxiniao Holding Co.Ltd(002154) venture capital participated in the investment of Pingyang Junquan chongjun equity investment partnership (limited partnership) (hereinafter referred to as Pingyang Junquan chongjun), of which Baoxiniao Holding Co.Ltd(002154) venture capital subscribed 3 million yuan with its own funds and the total scale of the fund is 2002 million yuan. At present, it has completed the raising and filing.
It is worth noting that according to the previous announcement, Baoxiniao Holding Co.Ltd(002154) venture capital can invest in the field of integrated circuits through this fund after becoming the LP of Junquan chongjun in Pingyang. This also means that China’s leading business men’s wear enterprise is realizing “cross-border” business through investment.
Baoxiniao Holding Co.Ltd(002154) to invest in integrated circuits
The traditional men’s wear enterprises in the impression of the general public are investing in some popular emerging tracks.
On April 24, Baoxiniao Holding Co.Ltd(002154) announced that its Baoxiniao Holding Co.Ltd(002154) venture capital will participate in the investment of Pingyang Junquan chongjun fund and become one of the latter’s LPS. The fund has completed the raising and filing. We can see from a partnership announcement in March that Baoxiniao Holding Co.Ltd(002154) venture capital plans to use its own capital of RMB 3 million to join the fund, and the contribution of Pingyang Junquan chongjun fund will be as follows:
The duration of the fund is 7 years, and the executive partner is Shanghai junquanxin investment. So who is Shanghai junquanxin investment as GP? According to the filing information of China Foundation Association, the private equity fund manager established in 2015 is also a joint-stock company of Baoxiniao Holding Co.Ltd(002154) and the actual controller is Zhou Xinzhong. The capital contribution is as follows:
Among the three natural persons, Zhou Xinzhong once served as the chairman of Zhejiang Baoxiniao Holding Co.Ltd(002154) Clothing Co., Ltd. and the legal representative of Baoxiniao Holding Co.Ltd(002154) venture capital. Fang Xiaobo also served as deputy general manager and board secretary in Baoxiniao Holding Co.Ltd(002154) company.
It is worth noting that the announcement also revealed that Baoxiniao Holding Co.Ltd(002154) venture capital can invest in the field of integrated circuits by becoming the LP of Junquan chongjun in Pingyang, and be liable for the debts of the fund to the extent of its subscribed capital contribution. From this, we can also see that the investment direction of Junquan chongjun in Pingyang is the very hot integrated circuit at present.
Baoxiniao Holding Co.Ltd(002154) said in the announcement that the partnership of Junquan chongjun in Pingyang will help expand the company’s investment channels and increase investment income by taking advantage of the partnership’s platform advantages, professional team advantages and project resource advantages, which is in line with the development strategy of Baoxiniao Holding Co.Ltd(002154) “industry + investment”.
menswear giant love investment
In fact, for Baoxiniao Holding Co.Ltd(002154) , investment has always been a very important business. As the business men’s wear giant said in its 2021 annual report, investment in sidelines should promote the development of the main business and promote the mutual development of industry and capital.
Throughout the layout of Baoxiniao Holding Co.Ltd(002154) in investment, it can be found that Baoxiniao Holding Co.Ltd(002154) holding has multiple investment platforms that hold shares or participate in shares, including the “direct force” Baoxiniao Holding Co.Ltd(002154) venture capital, which was established in 2015 and holds 100% shares; Shanghai junquanxin investment, which was established in 2015 and holds 18% of the shares, has recorded 8 funds under management; Established in 2017, Pingyang Yuanyuan investment partnership (limited partnership), which also holds 18% of the shares, has 18 funds under management, etc.
In addition, Baoxiniao Holding Co.Ltd(002154) group also has a number of investment institutions, such as Shanghai Rongyin capital, established in 2009 and led by Chen Zhangyin, one of Baoxiniao Holding Co.Ltd(002154) co founders, as well as Shanghai Yinsha venture capital, Zhejiang xinzhongnan investment and other investment institutions. Whether it is the early time of layout or the wide range of industries involved, we can see the degree of attention and the depth of entry.
Public information shows that at the beginning of its establishment, Baoxiniao Holding Co.Ltd(002154) venture capital’s main investment directions were related to the Internet, covering emerging industries such as big data marketing, Internet finance, e-commerce platform, o2o and social platform. Although a number of public investment targets may not have brought the expected benefits to Baoxiniao Holding Co.Ltd(002154) but also did not block the enthusiasm of the men’s clothing giant to develop its investment business.
Baoxiniao Holding Co.Ltd(002154) said in the latest annual report, “the company invests in junquanxin and participates in the establishment of investment fund. Through this platform, the company makes use of external resources, gives full play to the company’s internal advantages, fully integrates resources, strengthens the company’s industrial layout, and actively looks for projects that play a leading role in the development of main industries or cutting-edge fields of science and technology, so as to improve the efficiency of capital use.” Whether its investment business can achieve this goal still needs to be tested from the market.
