Group 1 - The company, Shanghai Zhangjiang Hi-Tech Park Development Co., Ltd., has approved an investment of RMB 100 million in the "Yuanhe Puhua Integrated Circuit Industry Fund (Limited Partnership)" through its wholly-owned subsidiary, Shanghai Zhangjiang Haocheng Venture Capital Co., Ltd. [2] - The fund has been officially named "Shanghai Yuanhe Puhua Private Fund Partnership (Limited Partnership)" and has completed its business registration and filing with the China Securities Investment Fund Association [3] - As of the announcement date, the total committed capital from all partners of the Yuanhe Puhua Fund is RMB 775 million, with RMB 116.25 million already paid in for the first phase [4] Group 2 - The fund aims to raise approximately RMB 2 billion, with an initial closing target of RMB 775 million [4] - The fund's investment period is set for 4 years, followed by a 4-year exit management period and a possible 2-year extension [4] - The fund's management fee is 2% per year based on the actual capital contribution during the investment period, and 1.8% during the exit period [5] Group 3 - The fund will primarily invest in unlisted companies in the integrated circuit sector, including design, manufacturing, packaging, testing, equipment, materials, and components [6] - The investment decision-making committee consists of 5 members, with decisions requiring a two-thirds majority to pass [6] - Exit strategies for the fund include transferring project equity, listing projects, liquidation distribution, and distributing project rights to partners [6]

Core Viewpoint - Zhangjiang Hi-Tech (600895.SH) is focusing on industrial investment, participating in the Yuanhe Puhua Integrated Circuit Industry Fund with a commitment of 100 million yuan, which has a target size of approximately 2 billion yuan [1][2] Investment Activities - The Yuanhe Puhua Integrated Circuit Industry Fund aims to invest in the semiconductor core sectors and hard technology fields, particularly in developed regions like the Yangtze River Delta and the Pearl River Delta [2] - Zhangjiang Hi-Tech has been actively investing in various sectors, including a 200 million yuan investment in the high-end electric vehicle brand Zhiji Auto and participation in the EDA Innovation Center [3] Financial Performance - In Q1 2025, Zhangjiang Hi-Tech reported a revenue of 1.219 billion yuan, a year-on-year increase of 24.41%, and a net profit of 294 million yuan, up 147.38% year-on-year [8] - The company achieved an investment income of 236 million yuan in Q1 2025, a significant increase of 333.74% year-on-year, accounting for 80% of the net profit for the period [5][8] Investment Scale and Focus - As of the end of 2024, Zhangjiang Hi-Tech's cumulative investment scale exceeded 9.5 billion yuan, with 56 direct investment projects and 30 fund participations [4] - The company primarily invests in integrated circuits (28% of total investments), biomedicine and medical devices (20%), and new energy vehicles (35%) [4] Operational Efficiency - Zhangjiang Hi-Tech has demonstrated effective cost control, with total operating expenses in Q1 2025 amounting to 155 million yuan, representing 12.69% of revenue, a decrease of 2.54 percentage points compared to the previous year [8] - The company maintains a stable dividend policy, having distributed cash dividends 25 times, totaling 4.706 billion yuan [8]

热文： 购基金井喷，巨头们开始"买买买" 报告： 独角兽的"新双轮驱动"：《2025中国CVC影响力报告》发布 报告： 哪些LP在活跃出资？——《LP全景报告2024》发布 对接需求请扫码 每日｜荐读 热文： 社会LP去哪了 5月20日，张江高科发布公告：上海张江高科技园区开发股份有限公司全资子公司----上海张江浩 成创业投资有限公司拟参与投资元禾璞华集成电路产业基金（有限合伙），该基金募集资金目标规 模约为人民币20亿元，上海张江浩成创业投资有限公司作为有限合伙人认缴出资额为人民币1亿 元。 基金重点关注长三角、珠三角以及国内其他半导体产业较发达地区，同时兼顾其他具备半导体及硬 科技产业发展潜力的区域。主要投资处于成长期及成熟期的半导体核心环节，包括 IC 设计、制 造、封测、设备、零部件、材料、EDA 等领域；泛半导体及硬科技，包括人工智能、汽车电子、 新材料、智能制造等领域。 张江高科表示，参与该基金将进一步强化其在集成电路产业链的战略布局，发挥基金在招商与投资 之间的纽带作用，通过"招、投"联动，与产业链的合作伙伴推动集成电路产业生态的建设，为浦东 打造集成电路产业创新高地作出贡献。 来源：张江高科 ...

张江高科（600895）公告，全资子公司上海张江浩成创业投资有限公司参与投资元禾璞华集成电路产业 基金(有限合伙)，该基金募集资金目标规模约为人民币20亿元，上海张江浩成创业投资有限公司作为有 限合伙人认缴出资额为人民币1亿元。基金首关规模7.75亿元，投资期4年+管理退出期4年+延长期2年。 ...