CRRC to Invest Into 3 Billion Yuan Partnership Fund; Shares Jump 4%

MT Newswires Live2024-12-18

CRRC (HKG:1766, SHA:601766) plans to be an investor of a 3 billion yuan partnership fund that will focus on innovative technology firms, according to a Shanghai Stock Exchange filing on Tuesday.

The fund, China Science and Technology Achievement Transformation Venture Capital Fund (Guangdong) Partnership (Limited Partnership), will invest in startups in new energy, new materials, new generation information technology, and high-end equipment sectors. The fund will run for 10 years.

Guoke Venture Capital Management is the fund's general partner and fund manager.

The state-owned rolling stock manufacturer, through subsidiary CRRC Capital Management, will inject 300 million yuan into the fund as a limited partner, the filing added.

CRRC's Hong Kong shares jumped over 4% in recent trade.

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