近日，公司收到基金管理人通知，该基金已根据《证券投资基金法》和《私募投资基金监督管理暂行办 法》等法律法规的要求，在中国证券投资基金业协会完成私募投资基金备案手续，并取得《私募投资基 金备案证明》。具体备案信息如下： 证券代码：603969 证券简称：银龙股份公告编号：2025-065 天津银龙预应力材料股份有限公司 关于参与设立的私募股权投资基金备案完成的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担个别及连带责任。 一、基本情况 为满足天津银龙预应力材料股份有限公司（以下简称"银龙股份"或"公司"）战略发展需求及产业联动效 应，进一步深化合作，公司与北京泓慧国际能源技术发展股份有限公司、博通（天津）创业投资有限公 司共同投资设立产业基金并签订合伙协议，合伙企业主要投资于新能源产业、储能领域相关项目，致力 于挖掘具有创新性技术、高增长潜力、符合产业发展趋势的优质项目。具体内容详见公司于2025年8月1 日披露于《中国证券报》《上海证券报》及上海证券交易所网站（www.sse.com.cn）的《天津银龙预应 力材料股份有限公司关于 ...

Core Viewpoint - The company, Huagong Technology Industry Co., Ltd., has approved a joint investment with a professional investment institution, establishing the Huagong Future (Wuhan) Venture Capital Fund, with a total subscription amount of 200 million RMB, of which the company contributes 98 million RMB, representing 49% of the fund's total subscription [2][3]. Group 1: Basic Information - Huagong Technology held its 18th meeting of the 9th Board of Directors on October 23, 2025, where it approved the investment proposal [2]. - The company’s wholly-owned subsidiary, Wuhan Huagong Technology Investment Management Co., Ltd., will invest up to 98 million RMB in the fund [2]. Group 2: Progress Update - The Huagong Future Fund has completed its registration with a total subscribed capital of 200 million RMB, with Huagong Investment contributing 98 million RMB [3]. - The fund is registered as a limited partnership and has its business address in Wuhan, Hubei Province [3]. Group 3: Other Matters - The company will fulfill its information disclosure obligations in accordance with relevant laws and regulations as the investment progresses [3].

Core Viewpoint - The forum discussed how finance can support the development of new productive forces, emphasizing the need for collaboration between commercial banks and innovative enterprises [1] Group 1: Financial System and Innovation - The current banking-dominated financial system must expand its support for technological innovation, with banks establishing specialized departments to provide tailored financial services for high-tech and specialized small and medium enterprises [3] - Long-term exploration of the investment-loan linkage model encourages banks to collaborate with external investment institutions to share risks while gaining better insights into the operational conditions of loan enterprises [3] - Development of intellectual property pledge financing is facilitated by advancements in AI and digital banking, which improve the assessment of intellectual property market value [3] Group 2: Bond Market and Venture Capital - Establishment of a technology board in the bond market is supported by the central bank, which promotes the issuance of innovation bonds for tech enterprises and provides risk compensation through structural tools [4] - The central government is advancing the establishment of a national venture capital guidance fund to address fundraising, investment, management, and exit issues, particularly focusing on improving exit channels beyond IPOs [4] - The equity market is encouraged to support innovation enterprises, enhancing the service levels of the Sci-Tech Innovation Board and the Growth Enterprise Market [4] Group 3: Technology Empowering Financial Services - The use of AI and machine learning to create intelligent risk control models can lower decision-making costs and risks for financial institutions, optimizing the efficiency of fund utilization [5] - Dynamic credit profiles can enhance risk identification capabilities, while effective risk-sharing and compensation mechanisms, such as insurance, are necessary for financing technology enterprises [5] - The integration of smart technology in financial services is expected to create effective channels for supporting the development of new productive forces [5]

Core Viewpoint - The reliance on commercial banks for supporting technological innovation has limitations due to the uncertainty in technology development and the banks' preference for predictable returns [3][4]. Group 1: Financial Support for Technological Innovation - Technological innovation requires long-term funding, while commercial banks typically provide short-term loans, often favoring larger amounts for shorter durations [3]. - Different stages of technological innovation, from seed to decline, require tailored financial services, with government grants and angel investments needed in the seed stage, followed by PE/VC in the startup phase, and commercial bank support in the growth phase [3][4]. Group 2: Role of Direct Financing - Direct financing, primarily through stock markets, is more aligned with the needs of technological innovation compared to bank loans [4]. Group 3: Enhancing Equity Investment - There is a need to improve the service levels of the Sci-Tech Innovation Board and the Growth Enterprise Market for innovative companies, alongside promoting venture capital development [5]. - Recent policies encouraging the establishment of national venture capital guiding funds are beneficial for the entire fundraising process [5]. Group 4: Addressing Exit Challenges for Venture Capital - Sole reliance on IPOs for venture capital exits is insufficient; there is a need to develop the mergers and acquisitions market to facilitate exits [6]. - Establishing market-oriented acquisition funds is essential to address the exit difficulties faced by venture capital [6].

Core Viewpoint - The company, Shijin Technology (301030.SZ), has announced a partnership with Shanghai Junzi Investment Management Co., Ltd. and other limited partners to invest in Wenzhou Junying No. 24 Venture Capital Partnership, primarily through equity investment [1] Group 1 - The total investment amount for the partnership is 62.3 million yuan, with the company contributing 6.25 million yuan, representing a 10.03% stake [1] - The partnership is expected to enhance business cooperation and leverage each party's resources in their respective fields [1] - The investment model of the industrial fund is seen as beneficial for the company to seize development opportunities in the carbon capture, steel slag, and mineral powder industries, thereby expanding and improving its industrial layout [1]

Core Viewpoint - China News Group announced its participation in the investment of Yuan Sheng Venture Capital Phase III RMB Fund, committing up to 100 million yuan, which will not exceed 10% of the total fund subscription amount [1] Group 1 - The fifth board meeting of the company approved the investment proposal on September 2020 [1] - The company agreed to extend the exit period of the partnership for the target fund to meet operational development needs [1] - The company will handle the relevant matters regarding the extension of the partnership exit period [1]

Group 1 - The company has a venture capital-related business through its subsidiary, Nanyang Yahuakou Power Co., Ltd., which holds a 19% stake in Henan Venture Capital Co., Ltd. [2]

Group 1 - Xiamen Fuchuang Dabo Medical Industry Venture Capital Partnership has been established with a capital contribution of 300 million yuan [1] - The partnership focuses on venture capital investments, specifically limited to investing in unlisted companies [1] - The partnership is co-funded by Fujian Investment Development Group Co., Ltd. and Guangxi Dabo Shangtong Venture Capital Co., Ltd. among others [1]

Group 1 - The core viewpoint of the articles emphasizes the growing trend of market-oriented investment capital focusing on early-stage, small-scale, and technology-driven ventures, particularly in universities and research institutions [1][2][3] - The "scientist meets investor" seminar highlighted the role of venture capital in the commercialization of scientific research, with discussions on the operational paths for technology transfer and the value-added capabilities of industry and service organizations [1][4] - Investment institutions are seen as not just providers of funds but also as key players in industry collaboration and value-added services, facilitating the transition of scientific achievements into marketable products [1][6] Group 2 - Market-oriented investment institutions are aligning their strategies with national economic policies and global technological trends, focusing on sectors with high potential for growth [2][3] - The concept of "investing early and small" is widely accepted, but there is also a call for larger investments in significant industries and directions, particularly as corporate venture capital (CVC) gains momentum [3][4] - The transformation of scientific research into marketable products faces challenges related to organizational capacity and commercialization skills, necessitating collaboration between academic entrepreneurs and industry partners [4][5] Group 3 - The role of investment capital extends beyond financial support to include patience, professional services, and strategic guidance, which are crucial for the successful commercialization of hard technology projects [6][7] - Legal and financial advisory services are essential in mitigating risks and establishing a solid governance foundation for companies during their financing and commercialization processes [7] - The ongoing "scientist meets investor" series of events is fostering a collaborative ecosystem for innovation, highlighting the importance of integrating rational investment logic with passionate engagement in the technology sector [7]

Core Insights - The transformation of scientific and technological achievements has shifted from being an "add-on" to a "must-have" in the capital market, particularly in Shaanxi, which has rich academic resources but faces challenges in venture capital development [1][2] Group 1: Shaanxi Venture Capital Market - As of August 2024, Shaanxi has 246 registered private fund managers, with 180 focused on equity, indicating stagnation in the venture capital market, which has entered a phase of stock game [3] - The average fund manager in Shaanxi manages 3.92 funds with an average scale of 627 million yuan, and the average fund size is 163 million yuan, all below the national average, reflecting a fragmented venture capital landscape [5] - 102 exit events were recorded, with dividends, equity transfers, and buybacks being the main exit methods, while IPO exits were only 7, aligning with national trends [7] Group 2: Investment Trends - In 2024, Shaanxi added 76 new venture capital funds with a total subscription amount of 19.1 billion yuan, of which state-owned capital-led funds accounted for 46%. There were 287 investment events, slightly lower than 2023, with disclosed investment amounts reaching 8 billion yuan [8] - Notably, 134 investment events were of 10 million yuan or more, making up 63% of the total, indicating a market preference for early to mid-stage projects [8] Group 3: Paths of Technology Transformation - The "Technology Achievement Transformation Law" outlines six methods for transformation: self-transformation, transfer of achievements, licensing, cooperative implementation, equity stake, and technology contract transfer, categorized into two main types: property rights transactions and technology service cooperation [10] - The most common transformation method in Shaanxi is through technology contracts, with nearly 20,000 out of 23,000 technology transactions in 2024 conducted via this method, involving a total amount of nearly 9 billion yuan [12] Group 4: Challenges in Technology Transformation - Eight key issues faced by universities in transforming achievements into IPOs include the stability of patent authorization, compliance with state-owned asset approval, risks of intellectual property disputes, and the legality of research personnel's identities [14][15][16][17][18][19][20][21] - The necessity of establishing a robust management system early on is emphasized to enhance the capitalization ability of enterprises, as 100% of the 42 newly registered IPO companies in Shaanxi since the implementation of the registration system have traces of technology transformation [13][22] Group 5: Opportunities and Future Directions - The exploration in Shaanxi may provide valuable insights for other regions, as the integration of venture capital support is crucial for maximizing the impact of technological innovation [22] - The current landscape indicates a pressing need for the establishment of a knowledge property evaluation system and a more market-oriented technology transaction environment [22]