Shang Hai Zheng Quan Bao·2025-06-09 20:04Overview - The core point of the announcement is that Beijing Zhaoyan New Drug Research Center Co., Ltd. has approved an investment of up to 100 million RMB to participate in the establishment of the second phase of the Service Trade Innovation Development Guidance Fund, in collaboration with professional investment institutions [2][3]. Group 1: Fund Establishment - The company will invest in the Service Trade Innovation Development Guidance Fund Phase II, which aims to enhance the development of innovative service trade mechanisms and digital trade [3]. - The fund will be managed by China Merchants Capital Management (Beijing) Co., Ltd., which will act as the general partner and executive partner [2][3]. Group 2: Partnership Agreement - A partnership agreement has been signed among the company’s wholly-owned subsidiary, China Merchants Capital Management, and other partners, outlining the purpose of the partnership to leverage fiscal funds to stimulate social capital support for service trade innovation [3][4]. - The partnership has a maximum duration of 15 years, with provisions for extension or early termination based on unanimous agreement among partners [4]. Group 3: Investment Strategy - The fund will focus on private equity investments in service trade and digital trade sectors, as well as directly investing in relevant enterprises [9][10]. - Investments will be made through equity or equity-related debt instruments [10]. Group 4: Management and Fees - The fund will incur management fees, calculated based on a specified rate and the duration of the management period [8]. - An investment decision-making committee will be established to oversee investment and exit decisions [12]. Group 5: Fund Details - The fund is named the Service Trade Innovation Development Guidance Fund Phase II (tentative) and will operate as a limited partnership [15]. - The fund's operational scope includes private equity investment, investment management, asset management, and investment consulting [15].