Investment Overview - The company’s wholly-owned subsidiary, Xinhua News Venture Capital Co., Ltd., has participated in the establishment of the Xinhua News Shengshi Qingneng (Nantong) Equity Investment Fund Partnership (Limited Partnership) with several other partners, with a total subscribed capital of RMB 35.01 million, where the subsidiary has committed RMB 15 million [2][3] Recent Developments - The general partner of the partnership has been changed from Shanghai Shengshi Capital Management Co., Ltd. to Shanghai Changfeng Huixin Equity Investment Fund Management Co., Ltd. The subscribed capital of Shengshi Capital has increased from RMB 10,000 to RMB 1 million, while Changfeng Huixin's has decreased from RMB 1 million to RMB 10,000 [3][4] Partnership Agreement Changes - A new partnership agreement has been signed reflecting changes in the profit distribution order, including a three-round distribution process based on the partners' actual contributions, with a minimum return rate of 6% per annum for the partners [8][9] Impact on the Company - The changes in the partnership do not adversely affect the interests of the partnership or its partners, and the subsidiary's investment amount and method remain unchanged, indicating no significant impact on the company's financial and operational status [10]

Investment Overview - The company’s wholly-owned subsidiary, Xinhua News Venture Capital Co., Ltd., has participated in the establishment of the Xinhua News Shengshi Qingneng (Nantong) Equity Investment Fund Partnership (Limited Partnership) with several partners, signing the partnership agreement on July 3, 2025, with a total subscribed capital of RMB 35.01 million, where the subsidiary contributes RMB 15 million [2][3]. Partnership Changes - The general partner of the partnership has been changed from Shanghai Shengshi Capital Management Co., Ltd. to Shanghai Changfeng Huixin Equity Investment Fund Management Co., Ltd. The subscribed capital of Shengshi Capital has increased from RMB 10,000 to RMB 1 million, while Changfeng Huixin's subscribed capital has decreased from RMB 1 million to RMB 10,000 [3][5]. Contribution Details - The total subscribed capital of the partnership is RMB 35.01 million, with contributions from various partners including Xinhua News Venture Capital Co., Ltd. contributing RMB 15 million, Guangzhou Guangdian Pingyun Capital Management Co., Ltd. contributing RMB 10 million, and others [4][5]. Changes in Profit Distribution - The profit distribution sequence has been revised, maintaining a three-round distribution process based on the actual contributions of partners, with the first round ensuring partners receive their capital back, the second round providing a 6% annualized return, and the third round distributing remaining profits among partners [6][7]. Impact on Company - The changes in the partnership structure are in compliance with investment regulations and do not harm the interests of the partnership or its partners. The subsidiary's investment amount and method remain unchanged, and the re-signing of the partnership agreement is not expected to significantly impact the company's financial or operational status [8].

Core Viewpoint - The company, Xinhua Net Co., Ltd., announces its full subsidiary, Xinhua Net Venture Capital Co., Ltd., has participated in the establishment of a partnership investment fund named Xinhua Net Shengshi Qingneng (Nantong) Equity Investment Fund Partnership (Limited Partnership) with several other investment firms, with a total subscription amount of RMB 35.01 million, where Xinhua Net Venture Capital contributes RMB 15 million [1][2][14]. Investment Overview - The partnership fund has a total subscribed capital of RMB 35.01 million, with Xinhua Net Venture Capital as a limited partner contributing RMB 15 million [1][2]. - The investment is aimed at leveraging professional institutions' resources and advantages in the investment field to achieve medium to long-term investment returns while controlling risks [13]. Partner Information - The general partner of the fund is Shanghai Shengshi Capital Management Co., Ltd., which has a registered capital of RMB 100 million and was established on November 15, 2018 [2][3]. - Other partners include Shanghai Changfeng Huixin Equity Investment Fund Management Co., Ltd., Nantong Shenghui Enterprise Management Partnership (Limited Partnership), Guangzhou Guodian Pingyun Capital Management Co., Ltd., and Luzhou Huijin Equity Investment Partnership (Limited Partnership) [1][2]. Financial Data - As of December 31, 2024, Shengshi Capital reported total assets of RMB 60.38 million and net assets of RMB 43.53 million [3][4]. - Xinhua Net Venture Capital reported total assets of RMB 127.63 million and net assets of RMB 121.76 million as of December 31, 2024 [5]. Investment Target - The fund will invest in Huisheng Clean Energy Technology Group Co., Ltd. [10]. Investment Decision Process - Investment decisions will follow the procedures outlined in the partnership agreement, particularly regarding conflicts of interest and related transactions [10]. Post-Investment Management - The fund manager will monitor the invested enterprises continuously and manage exit strategies according to the partnership agreement [10][12]. Revenue Distribution - The distribution of profits will follow a structured process, ensuring that all partners receive returns based on their contributions [11][12].