EnergyTrend learned that Jinko Power issued an announcement on June 17, proposing to contribute RMB 200 million of its own funds as a limited partner to jointly establish Shenzhen Runxin Tianji Equity Investment Fund Partnership (Limited Partnership).
According to the announcement, the total subscribed capital of the fund stands at RMB 630 million, among which Jinko Power plans to invest RMB 200 million, accounting for 31.75% of the total fund size.
The fund comprises ten partners, including Anhui Wanneng Capital, Guogai Juying Phase I (Fuzhou) Equity Fund, and Fuzhou Rongtou Industrial Fund. The fund manager is CICC Investment Capital Management Co., Ltd., and the partnership term lasts 8 years from the date of industrial and commercial registration. This investment does not constitute a connected transaction or major asset restructuring, hence it is not required to be submitted to the general shareholders' meeting for review.
The fund will exclusively invest in high-quality unlisted enterprises engaged in the next-generation information technology sector. All investment targets must be acquired through public bidding, auction and listing procedures. The fund will undergo early liquidation and termination if it fails to win the bidding. As of the release of the announcement, the partnership has completed industrial and commercial registration, while filing with the Asset Management Association of China (AMAC) for private fund registration is yet to be finished, with uncertainties surrounding the filing progress.
Jinko Power stated that this investment enables the company to deploy emerging industries leveraging the professional resources of the fund manager and diversify its investment and revenue channels. The full investment will be funded by internal capital, and the company shall bear limited liability up to its subscribed capital contribution. The investment will not create horizontal competition with its core business, exert no impact on the company’s daily photovoltaic power station development, operation and maintenance services, and will not bring material adverse impacts on the company’s financial performance and operations in the short term.
Source：EnergyTren