Group 1 - A new venture capital firm named Shanghai Yinbo Iteration Silicon-based Venture Capital Partnership (Limited Partnership) has been established with a registered capital of 81 million yuan [1] - The legal representative of the firm is Yinbo Iteration Private Fund Management (Shanghai) Co., Ltd., and its business scope includes venture capital limited to investing in unlisted companies [1] - The company is jointly held by Jingjia Co., Ltd., Shanghai Meitong Investment Management Co., Ltd., and Shan Weidong among others [1]

Core Viewpoint - Gansu Guofang Industry and Trade (Group) Co., Ltd. plans to jointly invest with professional institutions to establish a limited partnership named Jiaxing Yudao Digital Science [1][2] Investment Overview - The company intends to invest a total of RMB 15.45 million in the partnership, representing approximately 59.98% of the total capital contribution [2][4] - The partnership will focus on investing in high-tech enterprises and high-end manufacturing sectors that align with national industrial policies [10] Partner Information - The general partner is Shanghai Yudao Venture Capital Management Co., Ltd., established on September 24, 2021, with a registered capital of RMB 30 million [5][6] - The partnership includes other limited partners, including Gao Yankan, who will contribute RMB 10.3 million [4][6] Fund Structure and Management - The total capital for the partnership is RMB 25.76 million, with contributions from various partners [4] - The management fee for the fund is set at RMB 250,000 per year, with Gansu Guofang responsible for RMB 150,000 of this fee [8][9] Investment Strategy and Returns - The fund will primarily engage in equity investments and aims to provide long-term returns to its partners [6][10] - The exit strategies for investments include public offerings or mergers and acquisitions [9] Financial Impact on the Company - The investment in Yudao Digital Science is expected to enhance the company's investment returns over the long term without significantly impacting its financial status or operational results [10][11] - The funding for this investment will come from the company's own resources, ensuring that its main business operations remain unaffected [10]

（原标题：上海浦创启智创投合伙企业注册成立） 企查查APP显示，近日，上海浦创启智创业投资合伙企业（有限合伙）成立，出资额3.5亿人民币，经 营范围为创业投资。企查查股权穿透显示，该合伙企业由上海浦东创新投资发展（集团）有限公司旗下 上海浦东私募基金管理有限公司等共同出资。 ...

Core Viewpoint - The company, Tianjin Yinlong Prestressed Materials Co., Ltd., is participating in the establishment of a private equity investment fund, aiming to enhance its strategic development and industry synergy in the renewable energy sector [1][2][16]. Group 1: Investment Overview - The investment target is the Tianjin Zhongyuan Botong New Energy Venture Capital Fund Partnership (Limited Partnership), with a total investment amount of 96 million yuan, of which the company will contribute 81.504 million yuan [1][2]. - The investment does not constitute a related party transaction or a major asset restructuring as defined by relevant regulations [1][2]. Group 2: Investment Decision and Approval - The investment decision falls within the approval authority of the company's general manager and does not require board or shareholder approval [2][16]. - The fund will primarily invest in projects related to the renewable energy industry and energy storage [2][16]. Group 3: Fund Structure and Management - The fund will have a general partner, Botong (Tianjin) Venture Capital Co., Ltd., and limited partners including the company and Beijing Honghui International Energy Technology Development Co., Ltd. [2][3]. - The fund's duration is set for six years, with a four-year investment period followed by an exit period [4][7]. Group 4: Financial Implications - The investment is expected to leverage the management and resource advantages of the fund manager to enhance the company's competitive capabilities without adversely affecting its financial status [16][17]. - The company will use its own funds for this investment, ensuring no negative impact on its financial and operational conditions [16][17]. Group 5: Risk Analysis - The investment is characterized by a long investment cycle and low liquidity, subject to various risks including macroeconomic factors and management of the investment targets [16][17]. - The fund is still in the establishment phase and requires registration and approval from the China Securities Investment Fund Industry Association before commencing operations [16][17].

直接或间接投资于中国境内的智能制造、新信息技术、半导体等相关领域的私募股权投资基金（包括但 不限于IPO战配基金）、未上市企业、上市企业非公开发行和交易的普通股（含上市公司定向增发、大 宗交易、协议转让等），也可以投向其他行业和领域的私募股权投资基金或企业/项目。闲置资金（包 括但不限于待投资、待分配及费用备付的现金资产）可投资于银行活期存款、国债、中央银行票据、货 币市场基金等中国证监会认可的现金管理工具。 格隆汇7月31日丨荣泰健康(603579.SH)公布，公司与深圳丰厚沃天创业投资有限公司（简称"丰厚沃 天"）签订了《天津鼎汇二号股权投资合伙企业（有限合伙）合伙协议》，在确保满足日常经营资金需 求、总体投资风险可控的前提下，为了进一步拓展新兴领域的投资，充分利用专业机构的经验和资源， 公司作为有限合伙人以自有资金人民币1,000万元出资认购天津鼎汇的基金份额，持股比例占合伙企业 目前已募集认缴出资总额的10.3648%。 ...

一是要以专业的眼光发现价值。当前国内外经济形势风云变幻，机会和挑战并存，创投机构要进一步摒 弃短期思维，超越简单的财务模型和短期估值，以更敏锐的产业洞察力、更深厚的专业积淀，以望远镜 的远见和放大镜的细致穿透市场迷雾，坚持投早、投小、投硬科技，唤醒和发现价值，助力更多成长 型、创新型企业脱颖而出。 二是要以优质的服务培育价值。在国有资本、金融机构加码入场的行业新格局之下，我们应把创投行业 本身的价值进行延伸和深化。创业投资价值远不止资金的注入，创投机构应该并能够成为创业企业的长 期合伙人，为创业企业构建强大的增值服务体系，不断拓展投后赋能的广度和深度，呵护陪伴新技术从 实验室到走下生产线，转化为可感可及的新动能。 三是要以开放的心态做大价值。要实现科技创新活力持续迸发，离不开市场各方面共建开放、包容的创 新生态。以当前备受资本关注的人形机器人、AI大模型等新技术、新产业（300832）为例，尽管大家 都认为这是引领未来产业变革、经济高质量发展的新动能，但仍面临商业转化和资本退出通道不确定性 的挑战，创投机构应与科研院所、产业资源、各金融要素主体、地方政府携手共进，共同耐心培育适合 前沿技术生长的土壤，构建充满 ...

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: Investment Landscape - Venture capital has become a crucial tool for local economic development in China, with cities focusing on government investment funds and optimizing the investment ecosystem [1] - The 2024 China Urban Venture Capital Vitality Index ranks Shanghai, Shenzhen, and Beijing as the top three cities, indicating a significant lead over other cities [2][1] - The report highlights a downward trend in venture capital vitality indices from 2018 to 2024, with Beijing experiencing the most significant fluctuations [5] Group 2: Fundraising Insights - Beijing leads in fundraising index due to its concentration of top financial institutions and national funding platforms, followed by Shanghai and Suzhou [7] - The overall fundraising index for the top 10 cities has seen significant fluctuations and a general decline from 2018 to 2024, with only Beijing showing a slight increase in 2024 due to national fund contributions [10] Group 3: Investment Performance - Shanghai ranks first in investment index for 2024, with Beijing and Shenzhen following closely, indicating a competitive investment environment among top cities [11] - The number of funded projects and investment events in Shanghai and Shenzhen accounts for 37% of the total in the top 10 cities, showcasing their role as innovation engines [13] Group 4: Exit Strategies - Shenzhen leads in exit index, breaking the dominance of Beijing and Shanghai in fundraising and investment, highlighting its efficiency in capital exit [15] - The strong performance of the Yangtze River Delta region is noted, with cities like Suzhou and Hangzhou making it into the top 10 for exits [15] Group 5: Innovation Capacity - The innovation capacity index is closely linked to venture capital vitality, with Beijing, Shanghai, and Shenzhen leading in both indices [17] - Beijing's innovation strength is bolstered by its national laboratories and top universities, while Shanghai benefits from its industrial advantages [19] Group 6: Sector Concentration - The semiconductor and integrated circuit sector is identified as the core area of investment across major cities, with significant capital concentration [20] - The healthcare sector, driven by biopharmaceuticals and medical devices, remains a hot area for investment, with multiple cities ranking highly in these fields [21] Group 7: Regional Characteristics - Beijing focuses on artificial intelligence as its primary investment sector, while Shenzhen excels in computer vision, reflecting the deep connection between local resources and capital choices [22] - Suzhou and Hangzhou are emerging as strong players in venture capital and innovation, with significant investment activity reported in 2024 [22] Group 8: Shenzhen's Growth - Shenzhen's private equity and venture capital funds are growing, with a notable increase in LP contributions and a high number of investment events in 2024 [23] - The Guangming District in Shenzhen is highlighted for its ability to attract external funding, with a significant portion of its capital coming from outside the region [23][24]

Group 1 - The core viewpoint of the article emphasizes that Guangming District is rapidly becoming a new hub for technological innovation, industrial development, and investment entrepreneurship, supported by optimal policies and services [1][2]. - Guangming is accelerating the construction of a world-class science city and aims to establish a comprehensive national science center in the Greater Bay Area, focusing on a core area known as "One City, Three Districts" [1][2]. - The district has established 23 major technological innovation platforms, with significant advancements in synthetic biology, brain research, and materials genetics, and has attracted a high concentration of talent, including 59 academicians and over 19,000 various talents [1][2]. Group 2 - Guangming District is focusing on three main industrial directions: life and health, new generation information technology, and artificial intelligence, forming a "3+3+1" key industrial cluster [2]. - The district has gathered nine billion-level enterprises, 35 listed companies, and 1,921 enterprises above designated size, showcasing its industrial strength and innovation capabilities [2]. - A comprehensive and efficient technology finance support system is being established, including the creation of a national science center venture capital fund and various industry funds, to stimulate innovation and industrial vitality [2]. Group 3 - The article highlights a recent event where nearly 40 representatives from venture capital institutions and industry experts visited Guangming to explore its technological innovation landscape [4][5]. - The visit included a tour of the Weiguang Life Science Park, which focuses on the transformation of scientific achievements and houses over 40 enterprises and research institutions [5]. - The Guangming District's urban planning exhibition showcased its strategic vision for becoming a world-class science city, receiving positive feedback from visitors regarding its vibrant development and business environment [6].

Core Viewpoint - Venture capital has become a crucial lever for local economic development in China, with cities actively enhancing their investment environments and attracting quality investment institutions and innovative enterprises [1]. Group 1: City Venture Capital Activity - The 2024 China City Venture Capital Activity Index ranks Shanghai, Shenzhen, and Beijing as the top three cities, showing a significant lead over other cities [3]. - From 2018 to 2024, the overall trend of city venture capital activity indices has shown a fluctuating decline, with Beijing experiencing the most significant drop from 4302 in 2020 to 2166 [6]. - In terms of fundraising, Beijing ranks first due to its concentration of top financial institutions and national-level funding platforms, followed by Shanghai and Suzhou [8][11]. Group 2: Investment Trends - Shanghai leads the investment index in 2024, with Beijing and Shenzhen following closely behind, indicating a strong investment cluster in the Yangtze River Delta [12]. - The number of investment projects and financing events in Shanghai and Shenzhen accounts for 37% of the total in the top 10 cities, highlighting their roles as innovation engines [14]. Group 3: Exit Efficiency - Shenzhen has the highest exit index, breaking the previous dominance of Beijing and Shanghai in fundraising and investment, showcasing its exit efficiency advantage [15]. Group 4: City Innovation Power - The city innovation power index is closely linked to venture capital activity, with Beijing, Shanghai, and Shenzhen leading in both indices, indicating a symbiotic relationship between innovation and venture capital [19]. - Beijing's innovation power is bolstered by its national laboratories and top universities, while Shanghai benefits from its leading enterprises [20]. Group 5: Sector Concentration - The semiconductor and integrated circuit sector is the dominant investment area across major cities, with significant capital concentration [21]. - In terms of regional characteristics, Beijing leads in artificial intelligence, while Shenzhen excels in computer vision, reflecting the deep integration of local industrial resources and capital choices [22]. Group 6: Investment Activity in Key Cities - In 2024, Suzhou recorded 697 financing events with an estimated total financing amount of 272.67 billion, while Hangzhou had 577 events with 212.47 billion [22][23]. - Shenzhen's venture capital ecosystem is growing, with a notable increase in registered LP contributions, reaching 127.5 billion in 2024 [25].