SHIBEI HI-TECH(SH:600604) Shang Hai Zheng Quan Bao·2025-11-20 19:12Core Viewpoint - Shanghai Shibei Hi-Tech Co., Ltd. is participating in the establishment of a partnership investment fund named Zhongbao Investment Xinsichuang (Jiaxing) Equity Investment Partnership (Limited Partnership) with several other companies, contributing RMB 40 million, which accounts for 18.10% of the total subscribed capital of RMB 221.05 million [2][4][26]. Group 1: Investment Details - The partnership fund's total subscribed capital is RMB 221.05 million, with the company contributing RMB 40 million [2][4]. - The investment agreement was signed on November 20, 2025, and the company will act as a limited partner [2][4]. - The investment aims to enhance the company's industrial investment efforts and expand its investment and incubation system [4]. Group 2: Board Approval and Compliance - The investment has been approved by the company's board of directors and does not require shareholder approval [3][5]. - The transaction does not constitute a related party transaction or a major asset restructuring as per regulatory definitions [3][6]. Group 3: Fund Management and Structure - The fund is managed by Zhongbao Investment, which was established in December 2015 and focuses on long-term strategic investments [8]. - The partnership agreement outlines the management and decision-making processes, including the rights and obligations of both general and limited partners [18][20][25]. Group 4: Financial Impact and Risk Management - The company's investment risk exposure is limited to its subscribed capital of RMB 40 million, and the investment aligns with the company's main business without causing competition [27]. - The fund's investment cycle is long, and liquidity is low, which may be influenced by various factors including macroeconomic conditions and industry cycles [28].