中国通号，大动作！

Core Viewpoint - China Railway Signal & Communication Corporation (CRSC) has established a private equity fund management company, Tonghao Fund, to invest in smart transportation and urban development sectors, marking a significant step in its dual-driven strategy of "industry + capital" [5][6]. Group 1: Fund Establishment and Management - Tonghao Fund was registered on July 29, 2025, with a registered capital of 100 million yuan and paid-in capital of 50 million yuan, currently employing 7 full-time staff [3][6]. - The fund is fully owned by CRSC Capital Operation Co., Ltd., and aims to manage multiple funds in collaboration with central enterprises, local resources, and financial institutions [5][6]. Group 2: Investment Focus and Strategy - The fund will focus on investment areas such as smart rail transit, smart low-altitude operations, smart cities, and intelligent operations, leveraging CRSC's core technology in intelligent control [5][6]. - The goal is to accelerate the development of smart terminal equipment industries and create new growth points for CRSC by addressing existing gaps in its capabilities [5][6]. Group 3: Leadership and Expertise - The legal representative and general manager of Tonghao Fund, He Chuan, has extensive experience in investment management, having previously worked at various financial institutions [7]. - He Chuan has been involved in establishing multiple CVC technology innovation funds, focusing on sectors like equipment manufacturing, intelligent transportation, TMT, and artificial intelligence [7].