SZNH(SH:600736) Zheng Quan Ri Bao Wang·2025-10-13 12:11Core Viewpoint - Suzhou High-tech (600736) plans to acquire a 9% LP stake in the Yuxin Fund for 135 million yuan, indicating a strategic move to optimize investment rights and access emerging industries [1][3] Group 1: Transaction Details - The total subscription scale of the Yuxin Fund is 1.5 billion yuan, with Suzhou Jinheng holding 900 million yuan as a limited partner and Suzhou High-tech Venture holding 600 million yuan as a general partner [2] - As of the announcement date, the Yuxin Fund has paid in 74 million yuan, with Suzhou Jinheng contributing 44.4 million yuan and Suzhou High-tech Venture contributing 29.6 million yuan [2] - The transaction is classified as a related party transaction but does not constitute a major asset restructuring [2] Group 2: Strategic Intent - By acquiring the Yuxin Fund stake, Suzhou High-tech can maintain its indirect equity ratio in the transferred funds, while also expanding its project portfolio through investments in other sub-funds [3] - The funding will be allocated in batches based on the investment progress of the Yuxin Fund, ensuring that normal operations of Suzhou High-tech are not affected [3] Group 3: Market Implications - This transaction reflects a new direction for listed companies to optimize investment rights through related party transactions, offering a quicker and lower-risk entry into investment opportunities compared to establishing new funds [4] - The long-term success of this strategy will depend on the quality of investments and the efficiency of exits from the fund [4]