Core Viewpoint - CATL has announced its participation in an investment fund, marking a significant step in its investment strategy and compliance with regulatory requirements [1] Group 1: Fund Details - The investment fund "Boyu New Intelligence New Industry (Ningbo) Equity Investment Partnership (Limited Partnership)" has completed its private fund registration with the Asset Management Association of China on January 23, 2026 [1] - The fund's registration code is SBLV67, managed by Boyu Taoran (Shanghai) Equity Investment Management Co., Ltd., and custodied by Shanghai Pudong Development Bank Co., Ltd. [1] Group 2: Investment Commitment - CATL, as a limited partner, has committed to invest RMB 500 million, which represents 12.497% of the fund's total subscribed capital of RMB 4.001 billion after the first closing [1] - The completion of the fund's registration indicates that it is officially established and can begin compliant operations [1] Group 3: Future Disclosure - CATL will continue to disclose subsequent developments of the fund in accordance with relevant regulatory requirements [1]

Core Viewpoint - CATL has re-entered the investment scene by committing 500 million yuan to a new fund managed by Boyu Capital, signaling a recovery in China's venture capital market by the end of 2025 [4][6]. Group 1: Investment Activity - CATL announced its investment of 500 million yuan in the "Boyu New Intelligence New Industry (Ningbo) Equity Investment Partnership," which has a total subscription scale of 4 billion yuan, focusing on technology, healthcare, consumer goods, and retail sectors [6][8]. - Other companies, including Luoyang Molybdenum and Yitai B shares, have also announced their participation in the same fund, indicating a broader interest in this investment opportunity [8]. - The investment by CATL is part of a larger trend where the company is reviving its investment activities after a slowdown in recent years, having previously invested over 2.3 billion yuan in six funds within six months in 2021 [8]. Group 2: Market Sentiment and Trends - The investment by CATL reflects a shift in the overall sentiment of the primary market in 2025, moving away from caution to increased activity among investors [10]. - According to the "LP Panorama Report 2025," the private equity market in China has shown signs of recovery, with a nearly 10% increase in both fundraising and investment activities [10]. - The first three quarters of 2025 saw institutional LPs committing approximately 1.24 trillion yuan, a year-on-year increase of 9%, and the number of newly registered funds rose by 15.18% [10]. Group 3: Return of Institutional Investors - Established institutional investors like Tencent and Alibaba are returning to the market, focusing on future-oriented sectors such as AI and robotics, while new capital from various industries is also entering the equity investment space [11]. - The presence of foreign LPs is re-emerging, with several dollar institutions disclosing new fundraising activities, contributing to overall market confidence [12]. - The return of confidence is creating a positive feedback loop, with policy support for technological innovation and emerging sectors generating new opportunities [12]. Group 4: Long-term Investment Strategy - The current market recovery is characterized by a more patient capital approach, with both old and new investors seeking long-term alignment with industry evolution and national strategies [14]. - CATL's active participation in the LP market not only reflects confidence in its capital allocation but also signifies a clear marker of the primary market's transition into a new development phase [14].

Core Viewpoint - The article discusses the establishment of the "博裕新智新产（宁波）股权投资合伙企业" (博裕 New Fund) by 博裕投资, which has raised a total of 40.1 billion RMB from three listed companies, focusing on technology, healthcare, and consumer goods sectors [6][10]. Fund Details - The new fund has a target size of 80-100 billion RMB, with an initial term of 12 years, extendable by one year with the agreement of the general partner [7]. - The fund's management is handled by 博裕陶然, while 博裕天枢 acts as the general partner [6]. Investor Contributions - 宁德时代, 洛阳钼业, and 伊泰煤炭 each contributed 5 billion RMB to the fund, representing a 12.497% stake for each [6][10]. - 宁德时代's previous investment in 博裕 was 300 million RMB in 2021, indicating a continued interest in the fund's investment strategy [8]. Financial Performance of Investors - 伊泰煤炭 reported a revenue of approximately 31.14 billion RMB and a net profit of about 3.77 billion RMB for the third quarter of 2025 [10]. Strategic Partnerships - 博裕投资 has also formed a partnership with Starbucks to operate retail business in China, with 博裕 holding up to 60% of the joint venture [10]. Company Background - 博裕投资, founded in 2011, focuses on alternative asset management in China, with a diversified investment matrix that includes private equity, strategic investments in listed companies, and sectors like technology and healthcare [11].