Shanghai Zhangjiang-backed venture capital fund dissolves

Shanghai Zhangjiang Haocheng Venture Capital Co., a wholly-owned subsidiary of Shanghai Zhangjiang Hi-Tech Park Development Co., had participated in "Shanghai Chenglin Venture Capital Partnership (Limited Partnership)." This fund, initially announced on December 8, 2023, aimed to raise RMB 500 million, with Shanghai Zhangjiang Haocheng Venture Capital contributing RMB 30 million. The fund completed its industrial and commercial registration in December 2023.

However, the partners collectively decided to dissolve the partnership, citing significant changes in the industry and investment market environment since the fund's establishment, making continued operations no longer in their common interest. A liquidation group has been established, with Shanghai Chenglin Xinlun Technology Development Co. appointed as the liquidator.

As of the disclosure date, Shanghai Chenglin Venture Capital has received the "Notification of Registration" from the market supervision department, confirming its deregistration. The company states that this dissolution will not materially impact its financial status, production, operations, or future development, nor will it harm the interests of the company or its shareholders.