Group 1 - Zhejiang Longsheng Group Co., Ltd. has received approval to issue short-term financing bonds with a registered amount of up to RMB 3 billion [1][2] - The registration is valid for two years from the date of the acceptance notice issued by the trading association [2] - The company plans to issue the bonds in phases according to its funding needs and market conditions [2] Group 2 - The company has signed a partnership agreement to invest in the Shanghai Xianghui No. 1 Venture Capital Partnership, committing RMB 200 million, which accounts for 26.93% of the total capital raised of RMB 742.7 million [5][9][21] - This investment does not constitute a related party transaction or a major asset restructuring [6][10] - The partnership aims to invest in emerging industries with competitive advantages and good growth prospects, focusing on projects related to Fudan University's ecosystem [14][19] Group 3 - The partnership will have a management fee of 2% per year during the investment period, and 1.9% per year during the exit period [25] - The investment exit strategies include selling shares after an IPO, transferring equity, or receiving distributions upon liquidation [19][27] - The partnership's operational period is set for 9 years from the first closing date [29]