Core Insights - The company Micro Semiconductor (688012.SH) announced plans to establish a venture capital fund named Shanghai Zhiwei Panfeng, with a total fund size of 1.5 billion yuan [1][3] - The fund will focus on investments in the semiconductor, semi-semiconductor, and strategic emerging industries, indicating the company's strategic intent to deepen its investment in the industry chain [3] Group 1 - The fund will be co-established by Zhiwei Capital and other investors, with Zhiwei Capital acting as the general partner [1] - Micro Semiconductor's subsidiary, Zhongwei Lingang, plans to contribute up to 735 million yuan, representing no more than 49% of the fund [1][3] - Zhiwei Capital was co-founded by Micro Semiconductor and former board secretary Liu Xiaoyu, who has extensive experience in investment projects totaling over 2 billion yuan [3] Group 2 - Liu Xiaoyu and Zhongwei Lingang each hold 45% of Zhiwei Capital, while Furenheng Partnership holds 10% [3] - The establishment of the fund is seen as a move to leverage professional team experience and networks to enhance the company's position in the semiconductor industry chain [3] - The investment strategy aims to promote domestic substitution and technological innovation through capital market efforts [3]

Investment Overview - The company plans to participate in the establishment of a private equity fund named Shanghai Zhiwei Panfeng Venture Capital Partnership (Limited Partnership), focusing on semiconductor, semi-semiconductor, and strategic emerging sectors [1][2][3] - The fund aims to raise a total of RMB 1.5 billion, with the company's wholly-owned subsidiary, Zhongwei Lingang, intending to contribute up to RMB 735 million, representing no more than 49% of the fund's total size [1][3][4] Related Transactions - Zhongwei Lingang holds a 45% stake in Zhiwei Capital, the fund's management entity, whose actual controller, Liu Xiaoyu, is also a vice general manager and board secretary of the company [1][3][4] - The investment requires approval from the shareholders' meeting and does not constitute a major asset restructuring as defined by relevant regulations [2][4] Fund Structure and Management - The fund's management will be handled by Shanghai Zhiwei Private Equity Fund Management Co., Ltd., which will also act as the general partner and executive partner [5][6] - The fund's proposed capital structure includes contributions from various partners, with Zhongwei Lingang and Shanghai Kechuang each committing significant amounts [5][6] Investment Strategy and Goals - The fund will primarily focus on equity investments, particularly in companies with technological barriers, aiming to achieve stable asset appreciation [6][7] - The investment aligns with the company's strategic development direction, enhancing its industrial layout and core competitiveness [7][8] Financial Implications - The investment will not be included in the company's consolidated financial statements and is expected to have no significant adverse impact on the company's financial status or operational results [7][8]