Xinhuanet subsidiary investment fund updates partnership structure

Xinhuanet's wholly-owned subsidiary, Xinhuanet Venture Capital, is a limited partner in the Xinhua Net Shenshi Qingneng (Nantong) Equity Investment Partnership, investing 15,000,000 yuan. The fund's total paid-in capital remains 35,010,000 yuan. Recently, the partnership agreement was re-signed on September 11, 2025, to reflect changes required by the Asset Management Association of China.

The primary change involves Shanghai Shengshi Capital Management Co., Ltd. withdrawing as a general partner. Its 1,000,000 yuan fund share was transferred to Changfeng Huixin and Wu Bo. Consequently, the profit distribution hierarchy was updated, specifically concerning the third round of allocation for limited partners, who will now receive 80% of the distribution, with Changfeng Huixin receiving the remaining 20% as performance compensation.

The company stated that the changes align with investment regulations and do not negatively impact the fund or shareholder interests. However, the fund's subsequent registration with the Asset Management Association of China remains uncertain, and investment returns could be affected by various external factors.