Yongji Co., Ltd. plans to invest 20 million to participate in establishing an industrial fund
On February 28, Guizhou Yongji Printing Co., Ltd. (603058) announced that the company intends to contribute 20 million yuan as a limited partner to participate in the establishment of the industry investment fund 'Jiaxing Yida Xingjian Venture Capital Partnership (Limited Partnership)'.
The fund has a total scale of 151.5 million yuan, mainly investing in unlisted equity in the fields of semiconductors, new energy, new materials and intelligent manufacturing.
In this investment, Yongji shares accounted for 13.20% of the capital, and the source of funds was its own funds. Other investors of the fund include Kunshan Huguang Automobile Electric Co., Ltd. and Hangzhou Zhongheng Electric Co., Ltd., two A-share listed companies, as well as natural persons Zhang Xiaojun, Yuan Siwei, Qiu Fei, etc. The executive partner and fund manager is Suzhou Yida Private Equity Fund Management Co., Ltd.
According to the agreement, the duration of the fund is 7 years, of which the first 4 years are the investment period and the last 3 years are the exit period. The income distribution adopts the "return of capital first and then dividend" model: after returning all the paid-in capital contributions of the limited partners, the preferential return is paid at 8%/year (simple interest), and the excess income part is distributed by 80% to the limited partners and 20% to the general partners.
It is worth noting that the three listed companies in this cooperation belong to different industries: Yongji Co., Ltd. is mainly engaged in printing and packaging, Huguang Co., Ltd. focuses on automotive wiring harnesses, and Zhongheng Electric is deeply involved in power equipment. By jointly establishing a fund, the three parties will expand their layout in the field of hard technology with the help of professional investment institutions.
Yongji said that this investment aims to expand the company's business territory and improve the efficiency of capital use with the help of the resource advantages of professional investment institutions. The investment funds will be paid in installments according to the agreement and will not have a significant impact on daily operating cash flow.