Core Viewpoint - Baiyunshan (00874) has entered into a partnership agreement with Guangyao Capital to establish the second phase of the Guangyao Fund, aiming to enhance its investment in the biopharmaceutical sector and accelerate its strategic development in the healthcare industry [1]. Group 1: Company Actions - Baiyunshan's stock price increased by 2.65%, reaching HKD 18.60, with a trading volume of HKD 69.445 million [1]. - The company will invest RMB 1.4985 billion and Guangyao Capital will contribute RMB 1.5 million to the Guangyao Fund II [1]. - The financial performance of Guangyao Fund II will be consolidated into Baiyunshan's financial statements [1]. Group 2: Investment Focus - The partnership aims to conduct equity investments in the biopharmaceutical field, targeting investment returns [1]. - The fund will focus on investments in pharmaceuticals, medical devices, and healthcare services, aligning with the company's strategic planning [1]. - The establishment of Guangyao Fund II is intended to seize industry development opportunities and enhance the company's investment efforts in the biopharmaceutical and health sectors [1].

Core Viewpoint - Baiyunshan (00874) has seen a nearly 3% increase in stock price, currently at HKD 18.62, with a trading volume of HKD 62.93 million, following the announcement of a partnership agreement with Guangzhou Pharmaceutical Capital to establish the second phase of the Guangzhou Pharmaceutical Fund [1] Group 1: Company Actions - Baiyunshan announced a partnership agreement with Guangzhou Pharmaceutical Capital to invest RMB 1.4985 billion and RMB 1.5 million respectively in the establishment of the second phase of the Guangzhou Pharmaceutical Fund [1] - The company will have substantial control over the second phase of the Guangzhou Pharmaceutical Fund, and its financial performance will be included in the company's consolidated financial statements [1] Group 2: Investment Focus - The partnership aims to conduct equity investments in the biopharmaceutical sector through direct or indirect means to achieve investment returns [1] - The investment strategy will align with the company's strategic planning, focusing on sub-fund investments and direct project investments in pharmaceuticals, medical devices, and healthcare services within the biopharmaceutical and health sectors [1] Group 3: Strategic Goals - The establishment of the second phase of the Guangzhou Pharmaceutical Fund is intended to seize industry development opportunities and accelerate the company's layout in the biopharmaceutical health sector [1] - The initiative aims to enhance the company's efforts in incubating and investing in the pharmaceutical health industry [1]

Government Guidance Funds - Hangzhou plans to establish a direct investment fund with a scale of 2 billion yuan, focusing on early-stage investments in technology startups, aiming to support at least 100 projects annually [5][6] - Fujian Province has launched a 1 billion yuan biopharmaceutical industry fund, targeting innovative drugs, vaccines, and medical devices [6] - Yunnan's new industry guidance fund has been established with a scale of 5 billion yuan, focusing on growth and mature non-listed enterprises [6] Market-oriented Funds - Suzhou Tai Meng No.1 Equity Investment Fund has completed registration with a total investment of 3.1 billion yuan, focusing on high-end manufacturing and health sectors [12] - Changshi Capital's hard technology phase III fund has raised 728 million yuan, targeting AI infrastructure and applications [12] - Shanghai Baoshan has launched a 500 million yuan AIC fund, focusing on new energy and high-end equipment manufacturing [13] Industry Funds - Guangzhou Baiyunshan Pharmaceutical Group plans to invest 1.4985 billion yuan in a biopharmaceutical fund, focusing on medical and healthcare sectors [16] - Shenhuo Co., Ltd. intends to invest 1.2 billion yuan in a high-quality industrial development fund, targeting new materials and intelligent manufacturing [17] - Guanghe Technology has committed 30 million yuan to a new industry fund focusing on AI and robotics [18]

Core Viewpoint - Baiyunshan (600332) plans to invest 1.498 billion yuan as a limited partner in the second phase of the Guangzhou Pharmaceutical Fund, representing 99.90% of the total committed capital of 1.5 billion yuan [1] Group 1: Investment Details - The total scale of the second phase of the Guangzhou Pharmaceutical Fund is 1.5 billion yuan, managed by Guangzhou Guangyao Capital Private Fund Management Co., Ltd. [1] - Baiyunshan's investment constitutes a related party transaction but does not qualify as a major asset restructuring [1] Group 2: Financial Indicators of Guangyao Capital - As of June 30, 2025, Guangyao Capital reported total assets of 27.9588 million yuan, net assets of 19.4081 million yuan, operating income of 10.5777 million yuan, and net profit of 3.6221 million yuan [1] - For the year ending December 31, 2024, total assets were 30.9367 million yuan, net assets were 15.786 million yuan, operating income was 15.7202 million yuan, and net profit was 5.2937 million yuan [1]