Xinhuanet Unit Invests 6 Million Yuan in New Equity Investment Partnership

MT Newswires Live06-26

Xinhuanet (SHA:603888) subsidiary Xinhuanet Venture Capital has committed 6 million yuan to a newly formed equity investment partnership, according to a Shanghai Stock Exchange filing on Thursday.

The partnership fund, called Xinhuanet Zhixin (Nantong) Equity Investment Partnership, has a total subscribed capital of 63.1 million yuan, the state media company said.

It will mainly focus on equity investments and profits will be distributed to partners based on their paid-in capital, with a basic income target of 8% per annum.

As the executive partner, Guotai Junan Financial Holdings Investment (Shanghai) will manage the partnership's affairs, including investment project management, supervision, and exit strategies.

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