MTL(SH:600683) Shang Hai Zheng Quan Bao·2025-11-10 19:39Core Viewpoint - The company announces the dissolution and liquidation of the Beijing Cornerstone Venture Capital Fund (Limited Partnership), which it has invested in, due to the expiration of the fund's term [2][6][14]. Summary by Sections Transaction Details - The Beijing Cornerstone Venture Capital Fund has reached the end of its term and is set to undergo dissolution and liquidation [2]. - This transaction is classified as a related party transaction [3]. - The transaction does not constitute a major asset restructuring [4]. Related Party Transactions - The fund's limited partners include Beijing Infrastructure Investment Co., Ltd. (the company's largest shareholder), Beijing Cornerstone Fund Management Co., Ltd., and Beijing Cornerstone Venture Capital Management Center (Limited Partnership) [4][9]. - The total amount of related party transactions from the beginning of 2025 to the announcement date is 1.15 billion yuan, with 1.78 billion yuan in the past 12 months [20]. Fund Overview - The company participated in the Cornerstone Fund as a limited partner, with a total contribution of 251.5 million yuan, representing 43.08% of the fund [6]. - The fund has invested in 17 projects with a total investment of 503.76 million yuan, and it is currently in the exit phase, having completed exits for 14 projects [14]. Financial Status of Related Parties - As of December 31, 2024, Beijing Infrastructure Investment Co., Ltd. reported total assets of 927.62 billion yuan and net assets of 314.90 billion yuan [11]. - The Cornerstone Fund reported total assets of 103.33 million yuan and net assets of 103.33 million yuan as of August 31, 2025 [14]. Approval Process - The independent directors unanimously approved the proposal for the fund's dissolution and liquidation on November 5, 2025, and it was subsequently approved by the company's board on November 10, 2025 [8][17][19].