Core Viewpoint - Shanghai Yanshan Technology Co., Ltd. is enhancing its capital operation capabilities and investment returns by investing RMB 20.32 million through its wholly-owned subsidiary in a partnership with a professional investment institution [1][2]. Group 1: Investment Details - The company’s subsidiary, Hainan Ruihong Venture Capital Co., Ltd., has invested RMB 20.32 million in Jiaxing Lansheng Venture Capital Partnership (Limited Partnership) [1]. - Jiaxing Lansheng has completed the necessary business registration and has received the business license and private fund registration certificate from the relevant authorities [1][2]. - The total capital contribution for Jiaxing Lansheng is RMB 41.64 million, with the establishment date being January 23, 2024 [1]. Group 2: Fund Management Information - The fund is managed by Shanghai Guoce Investment Management Co., Ltd., with the custodian being Industrial Bank Co., Ltd. [2]. - The fund has been officially registered with the China Securities Investment Fund Industry Association, with the registration date being August 4, 2025 [2]. Group 3: Compliance and Future Actions - The company will continue to monitor the fund's progress and fulfill its information disclosure obligations in accordance with relevant laws and regulations [3].

体内容详见公司于 2025 年 7 月 16 日在《中国证券报》 《上海证券报》 《证券日报》 证券代码：002195 证券简称：岩山科技 公告编号：2025-043 上海岩山科技股份有限公司 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或者重大遗漏。 为充分借助专业投资机构的投资能力、资金优势及风险控制能力提升自身的 资本运作能力并获得投资收益，上海岩山科技股份有限公司（以下简称"公司"） 全资子公司海南瑞弘创业投资有限责任公司作为有限合伙人出资人民币 2,032 万 元参与投资嘉兴澜晟创业投资合伙企业（有限合伙） （以下简称"嘉兴澜晟"）。具 《证券时报》和巨潮资讯网（http://www.cninfo.com.cn）披露的《关于全资子公司 与专业投资机构共同投资的公告》（公告编号：2025-041）。 近日，嘉兴澜晟已完成相关工商变更登记手续以及中国证券投资基金业协会 备案手续，并取得嘉兴市南湖区行政审批局换发的《营业执照》以及中国证券投资 基金业协会颁发的《私募投资基金备案证明》，具体情况如下： 一、完成工商变更后的基本信息 名称：嘉兴澜晟创业投资合伙企业（有限 ...

天眼查App显示，近日，新疆申宏汇创一期创新产业投资基金合伙企业（有限合伙）成立，执行事务合 伙人为宏源汇富创业投资有限公司，出资额5.01亿人民币，经营范围包括创业投资，以私募基金从事股 权投资、投资管理、资产管理等活动。合伙人信息显示，该基金由申万宏源及旗下申万宏源产业投资管 理有限责任公司、宏源汇富创业投资有限公司共同出资。 ...

证券代码：301008 证券简称：宏昌科技 公告编号：2025-099 浙江宏昌电器科技股份有限公司 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，不存在任何 虚假记载、误导性陈述或者重大遗漏。 一、与专业机构共同投资的概述 浙江宏昌电器科技股份有限公司（以下简称"公司"）拟以自有资金与专业 投资机构共同对外投资，公司作为有限合伙人与普通合伙人浙江省创业投资集团 有限公司（以下简称"浙创投"）及其他有限合伙人浙江省国有资本运营有限公 司（以下简称"浙国资"）、浙江金义产业投资集团有限公司（以下简称"金义 产投"）、杭州浙创鸿鹄企业管理合伙企业（有限合伙） （以下简称"浙创鸿鹄"） 共同投资金华金东浙创高质量创新创业投资合伙企业（有限合伙）（暂定名）， 出资方式均为现金出资。全体合伙人本次的认缴出资总额为人民币50,300万元， 公司拟以自有资金认缴出资人民币15,000万元，出资比例为29.82%。 根据《深圳证券交易所创业板股票上市规则》《公司章程》《对外投资管理 制度》等相关规定，本次共同投资已经公司董事会审计委员会第七次会议及第三 届董事会第六次会议审议通过，该事项无需提交股东会审议。董事会 ...

珠三角作为中国改革开放的前沿阵地，创投发展在当下经济环境中具有至关重要地位。2025年，广 东省出台《进一步促进创业投资高质量发展行动方案》，重点优化政府引导基金考核机制，强调容错免 责；加大险资入粤力度，支持保险机构投资创投基金；完善创业投资退出机制，推动IPO绿色通道、S 基金试点，并强化"贷款+直投"联动，鼓励银行等机构与创投机构合作。 "这一份省级文件始终坚持以企业为主体，以创投为导向。"周汉民说。 在周汉民看来，珠三角创投发展有四大作用。一是产业升级的"加速器"。通过定向布局高精尖产 业，珠三角创投凭借资金倾斜和产业引导，紧密围绕半导体、人工智能、低空经济、新能源、生物医药 等新兴产业，推动科技创新与产业创新深度融合。除本土资本外，珠三角创投的特点之一是积极引入港 澳及国际资本，形成"政府引导+社会参与+国际联动"的资金格局。他同时指出，广东应将创投活动与 人才引进政策深度结合，以破解人才与技术瓶颈。 二是创新生态的"培育器"。珠三角作为"世界工厂"，拥有电子信息、高端装备、生物医药等万亿级 产业集群，为创投提供了丰富的优质项目储备。为赋能中小企业颠覆性创新，珠三角创投突破对传 统"大院大所"的依赖 ...

Group 1 - The core viewpoint is that the venture capital industry in China is emerging from a downturn, showcasing three major trends: the implementation of specific policies to promote venture capital development, the expansion of long-term funding for early-stage investments, and the diversification of exit channels for venture capital investments [1][2][3] Group 2 - The first trend highlights the unprecedented intensity and innovation of policies aimed at fostering a supportive environment for venture capital and technology [1] - The second trend involves the establishment of a trillion-level venture capital guidance fund, which aims to alleviate long-standing fundraising challenges by encouraging various financial institutions to participate in venture capital [1][2] - The third trend indicates that exit channels for venture capital are becoming more accessible, with an increase in quality company listings and a growing market for mergers and acquisitions, thereby enhancing the overall asset management cycle within the venture capital sector [1][2] Group 3 - The venture capital industry is facing challenges related to investment capability and post-investment management, which have been overshadowed by fundraising and exit difficulties [2] - There is a pressing need for market-driven optimization and restructuring within the industry to enhance the quality and effectiveness of venture capital entities [2][3] Group 4 - The upcoming "15th Five-Year Plan" is expected to prioritize the integration of technological innovation and industrial development, with venture capital playing a crucial role in supporting high-quality development [3] - Recommendations include attracting more social capital into venture investments, improving tax policies, and enhancing the overall quality and competitiveness of domestic venture capital brands [3]

Group 1 - The venture capital industry in China is emerging from a downturn, showcasing three major trends: the implementation of specific policies to promote venture capital, the expansion of long-term funding for early-stage investments, and the diversification of exit channels for equity investments [1] - The government has established a trillion-level venture capital guidance fund to enhance the scale of long-term capital for venture investments, addressing previous fundraising challenges [1] - There is a notable increase in the speed of quality companies going public and a rise in the merger and acquisition market, which is facilitating a positive cycle of capital entry and exit in the venture capital sector [1] Group 2 - Despite alleviating fundraising and exit difficulties, the venture capital industry faces challenges such as weak project investment capabilities and inadequate post-investment management, leading to a situation of "large but not strong" [2] - There is an urgent need for market-driven optimization and restructuring within the industry to enhance the quality of venture capital management and services [2] Group 3 - The upcoming "15th Five-Year Plan" will prioritize the integration of technological innovation and industrial innovation, with a focus on transforming scientific achievements into productive forces [3] - The venture capital sector is expected to play a crucial role in supporting high-quality development, with initiatives aimed at attracting social capital and improving tax policies for venture investments [3] - There is a call for local venture capital associations and institutions to conduct in-depth research on significant issues affecting the industry's development over the next five years [3]

Core Insights - The venture capital industry is showing signs of recovery, with significant improvements in fundraising and investment activities compared to previous years [1][2] - The industry is undergoing profound changes, with a focus on nurturing high-quality projects and adapting to new policies that encourage long-term investments [1][2] Fundraising - In the first half of this year, the amount pledged by institutional LPs increased by 50% year-on-year, ending a continuous decline since 2020 [1] - The overall scale of investment and financing saw a reduction in decline from 50% in the same period last year to just 5% [1] Investment - A total of 131 Chinese companies went public in A-shares, Hong Kong, and US markets in the first half of 2025, with 56% receiving support from VC/PE [1] - The Hong Kong IPO market has shown strong performance, and diverse exit strategies such as mergers and acquisitions are becoming more mature [1] Industry Transformation - The emergence of high-quality projects like DeepSeek, Yushu Technology, and Yingshi Innovation highlights the international competitiveness of Chinese technology brands [1] - Policies such as "Venture Capital Seventeen Articles" and "State Council No. 1 Document" are being introduced to attract long-term capital from banks, insurance funds, and social security [1] Value Creation - The venture capital industry is encouraged to adopt a long-term perspective, moving beyond short-term financial models to discover and nurture value [2][3] - There is a call for venture capital firms to extend their value beyond mere funding, acting as long-term partners to startups and enhancing post-investment support [2] Ecosystem Development - The industry is urged to foster an open and inclusive innovation ecosystem, collaborating with research institutions, industry resources, and local governments to support the growth of innovative technologies [3] - The focus is on creating a vibrant and resilient technological innovation ecosystem that supports the entire lifecycle of innovative enterprises [3]

Group 1 - The core point of the news is that Hehua Co., Ltd. (河化股份) is undergoing a potential change in its controlling shareholder and actual controller due to a planned equity transfer by its major shareholder, Ningbo Yinyi Holdings Co., Ltd. [1] - The company has announced a stock suspension starting from July 31, 2023, to ensure fair information disclosure and protect investor interests, with the suspension expected to last no more than two trading days [3] - Hehua Co., Ltd. has recently signed an agreement to invest 5 million yuan in a venture capital fund, aiming to optimize the efficiency of its capital usage and leverage professional resources to seize market opportunities [4] Group 2 - The total initial capital commitment for the venture capital fund is 11 million yuan, with Hehua Co., Ltd. contributing 5 million yuan, representing 45.45% of the total [4] - The fund will primarily invest in high-quality equity targets in the fields of raw material pharmaceutical enterprises and synthetic biomedicine, with an investment period of three years and an exit period of two years [4] - As of July 30, 2023, Hehua Co., Ltd.'s stock price experienced a significant increase, closing at 8.02 yuan per share, with a total market capitalization of 2.9 billion yuan [4]

Group 1 - The "Liaoning Venture Capital Home" series of activities aims to enhance capital operation awareness in local cities and improve the venture capital service system, injecting financial vitality into regional technological innovation and industrial upgrading [1] - The event was supported by various financial institutions and government departments, with over 120 excellent GP and LP partnerships established, leading to more than 80 billion social capital invested in Liaoning's real economy [1] - The training included detailed presentations on the functions of the provincial government guidance fund, private equity financing, and the "Chuangtou Liaoning" equity investment and financing service platform [1][2] Group 2 - The meeting featured presentations from nine enterprises in Fuxin and over ten enterprises in Chaoyang, discussing their basic situations, operational conditions, and financing needs [2] - The Liaoning Provincial Local Financial Management Bureau introduced measures to promote financing for technology enterprises and venture capital development, including optimizing the financial ecosystem and creating the "Chuangtou Liaoning" brand [3] - The bureau emphasized the importance of addressing information asymmetry in investment and financing, encouraging collaboration between local government departments, technology enterprises, and financial institutions [3] Group 3 - The series of activities will continue until mid-November, covering 14 cities in Liaoning Province and the Shenyang-Fushun Demonstration Zone, with each city's event lasting one day [4] - The Deputy Director of the Liaoning Provincial Local Financial Management Bureau visited a key listed company in Chaoyang to encourage its preparation for going public and provide targeted suggestions [4]