On December 29, CRRC Corporation Limited announced that its wholly owned subsidiary, CRRC Capital Management Co., Ltd., plans to participate in the establishment of Huayu Yongyuan Strategic Emerging Industries (Ningbo) Equity Investment Fund (Limited Partnership).
According to the announcement, the fund has a total committed capital of RMB 1.2 billion. CRRC Capital, acting as a limited partner, has committed RMB 350 million, representing 29.17% of the total committed capital. The general partner and fund manager is CRRC Guochuang (Beijing) Private Fund Management Co., Ltd., which has committed RMB 10 million.
Other limited partners include Zhejiang Yongyuan Caitong Fuzhe High-End Equipment Industry Equity Investment Partnership, Ningbo Yongyuan Investment Fund Co., Ltd., Ningbo Metro Industry Engineering Co., Ltd., and Shanghai Pudong Leading Area Guotai Junan Sci-Tech Innovation No. 1 Private Fund Partnership, among others.
The fund has a duration of eight years, comprising a five-year investment period and a three-year exit period. Subject to the unanimous consent of all partners, the fund’s duration may be extended by one additional year.
In terms of investment focus, the fund will primarily target the upgrading and development of strategic emerging industries and the cultivation of new-quality productive forces. Key investment areas include clean energy equipment, new energy equipment, upstream and downstream segments of the new energy vehicle industry chain, digital and intelligent industries, marine engineering equipment, and the low-altitude economy, among other strategic emerging sectors.
All partners will make their capital contributions in cash denominated in Renminbi. Capital contributions will be paid in three installments, with each partner contributing 40%, 30%, and 30% of their respective committed capital in the corresponding phases.
Source：EnergyTrend