Wire flash
Jiangfeng Electronics subsidiary to invest 417 mln yuan in semiconductor investment partnership
Editorial responsibility
- No named human review is recorded for this page.
- Source reporting is collected, normalized, translated or condensed automatically when needed.
- Automatically published source-backed update
Jiangfeng Electronics (Ningbo Jiangfeng Electronic Materials Co., Ltd.) announced on September 23 that its wholly-owned subsidiary, Ningbo Jiangfeng Boxin Technology Co., Ltd., will jointly establish a limited partnership with related parties and professional investment institutions. The partnership, tentatively named Ningbo Yongguang Tongxing Project Management Partnership (Limited Partnership), has a total planned capital of 600 million yuan. Jiangfeng Boxin will contribute 417 million yuan (69.50% stake) from self-raised funds. Other partners include Ningbo Rongchuang Gongxin Investment Partnership, Jiangfeng Tongchuang Technology Group, individuals Bian Yijun, Yu Yongqun, Zou Junwei, and investment vehicles Beijing Zhumeng Tongxing No. 1 and Ningbo Zhumeng Tongxing No. 2. The company stated that this move aligns with its strategic development plan to expand investment channels, optimize its industrial layout in the semiconductor sector, and explore high-quality projects and business cooperation opportunities in upstream and downstream semiconductor fields. Jiangfeng Electronics believes that successful operations of the target company will enhance its comprehensive strength and core competitiveness, promoting healthy and sustainable development.
Source report
September 23 — Ningbo Jiangfeng Electronics Materials Co., Ltd. (Jiangfeng Electronics) announced the establishment of a new limited partnership through its wholly-owned subsidiary, in collaboration with affiliated parties and professional investment institutions.
Key Details of the Investment
According to the company's announcement, based on its strategic development plan, the company aims to further expand investment channels, continuously optimize its overall industrial layout, and explore high-quality project resources and business cooperation opportunities in the semiconductor upstream and downstream sectors.
Participating Parties
The company's wholly-owned subsidiary, Ningbo Jiangfeng Boxin Technology Co., Ltd. ("Ningbo Jiangfeng Boxin"), will jointly invest with the following parties:
- Ningbo Rongchuang Gongxin Investment Partnership (Limited Partnership) ("Ningbo Rongchuang Gongxin") — an affiliated party
- Ningbo Jiangfeng Tongchuang Technology Group Co., Ltd. ("Jiangfeng Tongchuang Technology Group")
- Bian Yijun
- Yu Yongqun
- Zou Junwei
- Beijing Zhumeng Tongxing No. 1 Venture Capital Partnership (Limited Partnership) ("Beijing Zhumeng Tongxing No. 1") — an affiliated party and professional investment institution
- Ningbo Zhumeng Tongxing No. 2 Venture Capital Partnership (Limited Partnership) ("Ningbo Zhumeng Tongxing No. 2")
Target Company
The newly established entity will be named Ningbo Yongguang Tongxing Project Management Partnership (Limited Partnership) (tentative name, subject to final approval by the local market supervision and administration authority; hereinafter referred to as "Ningbo Yongguang Tongxing" or the "Target Company").
Capital Contribution
The total capital contribution for Ningbo Yongguang Tongxing is tentatively set at RMB 600 million. Of this amount, Ningbo Jiangfeng Boxin plans to contribute RMB 417 million from its own funds, representing a 69.50% stake.
Strategic Rationale
The company stated that this investment by its wholly-owned subsidiary, together with professional investment institutions, will:
- Further expand the company's investment channels
- Continuously optimize and expand its overall industrial layout in the semiconductor sector
- Align with the company's strategic development plan
If the various business operations of the Target Company proceed smoothly, the initiative is expected to enhance the company's overall strength and core competitiveness, supporting its healthy and sustainable development.
(Reported by Wang Luo)
Source
中国证券报Eastern
Part of this Story
Jiangfeng Electronics subsidiary invests 417 million yuan in semiconductor partnership