G-bits extends investment fund operating period by two years

The operating period for the Jixiang Tiancheng Fund will now be extended from seven to nine years, aiming to maximize returns for fund partners by allowing more time to identify suitable exit opportunities for existing projects. The investment and recovery periods remain unchanged, but the extension period will be lengthened from two to four years, during which the fund manager will not charge management fees. All partners have agreed to these adjustments.

The Jixiang Tiancheng Fund was established on December 20, 2018, with G-bits Network Technology (Xiamen) Co., Ltd. contributing 10,000 yuan to the fund as a limited partner. Its wholly-owned subsidiary, Xiamen Jixiang Equity Investment Co., Ltd., contributed 300 yuan as a general partner and serves as the fund manager. Subsequently, on August 29, 2019, G-bits' subsidiary, Xiamen Thunder Network Technology Co., Ltd., joined the fund as a limited partner, contributing 5,000 yuan.

Following the introduction of Xiamen's industrial guidance fund and Jimei District's guidance fund on May 21, 2020, G-bits Network Technology (Xiamen) Co., Ltd. currently holds a 41.50% stake, Xiamen Jixiang Equity Investment Co., Ltd. holds 1.24%, and Xiamen Thunder Network Technology Co., Ltd. holds 20.75% of the total subscribed capital of the Jixiang Tiancheng Fund. This extension is not expected to significantly impact the company's financial performance or operating results.