深圳放大招：松绑返投，千亿基金群来了|投资家日报

Group 1: Investment and Funding Developments - Shenzhen has launched a new policy to promote high-quality development in venture capital and private equity, establishing a large-scale fund group focused on the smart terminal industry with an initial fundraising target of 5 billion yuan [15] - The policy removes restrictions on the timing and scale of returns for seed and angel funds, and encourages state-owned capital to act as patient capital to support key industry clusters [15] - Chengdu has established a 10 billion yuan S fund aimed at alleviating the pressure of government-guided fund exits and optimizing capital liquidity, focusing on technology sector equity assets [15] Group 2: Corporate Investments and Strategic Moves - Tencent has invested in Shanghai Zhiyuan New Technology Co., a robotics company, which is expected to accelerate its development in the robotics field [2] - Apple CEO Tim Cook discussed expanding Apple's investment in China with the Minister of Commerce, emphasizing the importance of the Chinese market for Apple's supply chain [2] - Miniso's TOPTOY brand plans to open over 1,000 stores globally in the next five years, focusing on Southeast Asia and Europe, aiming to increase its overseas sales proportion [10] Group 3: IPO and Market Activity - Guqi Down Material has passed the main board review and plans to raise 500 million yuan to upgrade its functional down production capacity, indicating strong market demand for high-quality down products [4] - The approval of several long-pending IPOs, including Yitang Technology and Yunhan Chip City, reflects regulatory efforts to clear backlogs and support market recovery [5] - Huima Microelectronics faced challenges in its IPO attempts and subsequent acquisition due to valuation disagreements, highlighting the valuation gap in the current market [5]