Xinhuanet subsidiary changes investment fund structure

Xinhua Net Ventures, a wholly-owned subsidiary of Xinhuanet, has revised the partnership agreement for its equity investment fund with RMB 35.01m committed capital.

Shanghai Changfeng Huixin Equity Investment Fund Management has replaced Shanghai Shenshi Capital Management as the new fund manager. Shanghai Shenshi Capital's contribution increased from RMB 0.1m to RMB 1m, while Shanghai Changfeng Huixin's decreased from RMB 1m to RMB 0.1m.

The partnership also replaced one limited partner with natural person Wu Bo, who will contribute RMB 3m. The revised agreement updates the profit distribution structure.