Zhi Tong Cai Jing·2025-12-29 11:13Core Viewpoint - The announcement details the establishment of two funds by the subsidiary of Baiyunshan (00874), specifically the Guangyao Guangkai Fund and the Guangyao Liwan Fund, with the first fund's partnership agreement already in effect while the second is pending signature [1] Group 1 - Baiyunshan's subsidiary, Guangyao Phase II Fund, has entered into a partnership agreement for the establishment of the Guangyao Guangkai Fund with Guangyao Capital and Guangkai Fund [1] - The partnership agreement for the Guangyao Guangkai Fund became effective on December 29, 2025, with no changes to its main terms [1] - As of the date of the announcement, the partnership agreement for the Guangyao Liwan Fund has not yet been formally signed, and the company will issue a further announcement upon its signing in accordance with Hong Kong listing rules [1]