FENGHUA(SZ:000636) Zheng Quan Zhi Xing·2025-06-04 11:31Core Viewpoint - Guangdong Fenghua High-tech Co., Ltd. has announced the establishment of a subsidiary fund, Guangzhou Mingjiang Yahe Venture Capital Fund Partnership (Limited Partnership), in collaboration with Tianjin Zhongxin Ruibo Enterprise Management Partnership (Limited Partnership) and other partners, to enhance investment capabilities in the electronic components sector [1][2]. Investment Overview - The total subscribed capital for the Mingjiang Yahe fund is RMB 33.01 million, with Fenghua Zhongxin contributing RMB 33 million, representing 99.80% of the total [2][3]. - The fund has completed its registration and obtained the necessary licenses to operate as a private investment fund [2]. Fund Structure and Management - The fund operates as a limited partnership with a closed-end structure, and its duration is set for five years, including a three-year investment period and a two-year exit period [8]. - An investment decision committee consisting of five members will oversee fund management, with specific voting rights and procedures to handle conflicts of interest [8][9]. Financial Implications - The investment in the Mingjiang Yahe fund is not expected to have a significant impact on the company's financial status or operational results [2][5]. - The fund's management fees are set at 2% per year during the investment period and 1.5% during the exit period [10]. Partner Information - The fund's general partner is Guangzhou Mingdao Private Fund Management Co., Ltd., which has a registered capital of RMB 5 million and was established in July 2022 [3][4]. - Other limited partners include Suzhou Yahe Xingzhi Venture Capital Partnership and Guangzhou Mingshitaihai Venture Capital Fund Partnership, among others [4][5].