Sumec to co-establish CNY 400m innovation fund, reappoints auditor
Sumec Corporation, along with its subsidiary Sumec Asset Management, plans to invest a total of 140 million yuan (35% of the fund) in a new science and technology innovation investment fund. This fund, in partnership with China National Machinery Industry Corporation subsidiaries and Nanjing entities, will focus on strategic emerging industries, including smart supply chains, green electrical equipment, new energy, and advanced materials. This investment aligns with Sumec's long-term strategy to strengthen and extend its industrial chains, leverage professional platform resources, and enhance its core competitiveness.
The fund is currently in the preparatory phase, with the partnership agreement yet to be signed and requiring approval from state-owned asset regulatory bodies. Sumec acknowledges the inherent risks of long-term, illiquid equity investments in early-stage projects, including the potential for difficulty in finding suitable investment targets and the impact of various external factors.
In a separate announcement, Sumec confirmed the reappointment of Tian Ying International Certified Public Accountants (Special General Partnership) as its auditor for 2025. The audit fee for 2024 was 3.4 million yuan, with 2.85 million yuan for the annual report audit and 0.55 million yuan for internal control audit. The firm meets all regulatory requirements and has a professional team.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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