Yonyou network exits Shenzhen huaihai fangzhou investment fund

Yonyou Network Technology (Yonyou Network) is exiting the Shenzhen Huaihai Fangzhou Information Industry Equity Investment Fund (limited partnership), having previously invested 170 million yuan, representing a 4.25% stake. Its subsidiary, Yonyou Guangxin Network Technology (Yonyou Guangxin), had also invested 30 million yuan, bringing the total Yonyou Group investment to 200 million yuan or 5% of the fund.

The fund's primary purpose was to invest in China Unicom, and Yonyou Guangxin had indirectly held 4,392,387 shares of China Unicom. In July 2023, Yonyou Guangxin transferred its 30 million yuan property share to Yonyou Network for 21,083,457.6 yuan, based on China Unicom's June 30, 2023 closing price of 4.8 yuan per share.

With the fund having sold its China Unicom shares, Yonyou Network has recovered all investment principal and returns. The company's exit from the fund will not involve related party transactions, constitute a major asset reorganization, or adversely affect its financial position or operations.