CHINT ELECTRICS(SH:601877) Shang Hai Zheng Quan Bao·2025-08-11 19:18Core Viewpoint - Zhejiang Chint Electric Co., Ltd. has approved its subsidiary, Zhejiang Taizhou New Energy Co., Ltd., to invest CNY 75 million (approximately USD 10.5 million) in establishing the Haining Tidal Energy Tongxin Equity Investment Partnership (Limited Partnership) to enhance asset turnover efficiency and expand industrial scale [1][4][29] Group 1: Investment Overview - The investment aims to focus on distributed photovoltaic power generation infrastructure projects within China, primarily through equity investments [7][20] - The total fundraising target for the Tidal Energy Tongxin Fund is CNY 500 million (approximately USD 70.5 million) [11] - The investment decision-making will be governed by an investment decision committee, which will be the sole decision-making body for investments [20] Group 2: Fund Structure and Partners - The fund will be a limited partnership with a duration of 30 years, including a 10-year investment period and a 5-year exit period [16] - The general partner is Haining Tidal Energy Tongxin Enterprise Management Partnership (Limited Partnership), with a registered capital of CNY 3 million (approximately USD 423,000) [12] - The limited partner, Haining Economic Development Zone Development and Construction Co., Ltd., has a registered capital of CNY 2.22 billion (approximately USD 313 million) [13] Group 3: Financial Implications - The investment is expected to improve the company's asset turnover efficiency and support the sustainable development of its household photovoltaic business [29] - The funding for this investment will come from self-raised funds by Taizhou New Energy, which limits the investment risk to the amount contributed [29] - The investment will not adversely affect the normal operations or financial status of Taizhou New Energy [29]