Shanghai Lingang subsidiary dissolves Chenglin venture capital fund

Shanghai Lingang Holdings Corp announced that its wholly-owned subsidiary, Shanghai Lingang Pujiang International Science and Technology City Development Co., Ltd., has dissolved the "Shanghai Chenglin Venture Capital Partnership (Limited Partnership)" (Chenglin Fund). The subsidiary had initially committed to invest RMB 14,500万元 in the fund.

The decision to dissolve the partnership was made due to significant changes in the industry and investment market environment since the fund's establishment, rendering its continued operation no longer beneficial to all partners. The dissolution and liquidation process is underway, with Shanghai Chenglin Xinlun Technology Development Co., Ltd. appointed as the liquidator. The Chenglin Fund has officially completed its deregistration with the Shanghai market supervision administration.

This dissolution is not expected to change the company's consolidated financial statements nor have a material adverse impact on Shanghai Lingang Holding Corp's financial condition or operating results. The announcement, released in 2025, follows the initial disclosure in December 2023 regarding the fund's establishment.