Zhejiang Daily Digital Culture Group's subsidiary raises capital for venture fund

Zhejiang Daily Digital Culture Group Co., Ltd. announced that its wholly-owned subsidiary, Hangzhou Fuchun Cloud Technology Co., Ltd., has progressed its participation in the Hangzhou Hangshu Intelligent No. 1 Venture Capital Fund Partnership. The fund, with total committed capital of RMB 85 million, saw its first tranche of RMB 81 million successfully raised on December 9, 2025. Fuchun Cloud Technology's initial contribution to this tranche was RMB 20 million, forming part of its total committed investment of RMB 21 million, representing 24.71% of the fund’s total capital.

This investment aligns with Zhejiang Daily Digital Culture Group’s strategy to innovate in digital culture and technology, exploring new business models and strategic investments. The fund focuses on investments in Yun Jian Information, a one-stop technology service platform for digital products with extensive experience in ICT infrastructure. This move aims to enhance the company's position in the upstream and downstream of its core business supply chain, explore new technologies, and expand investment returns.

The company highlighted that the fund still needs to complete its registration with the Asset Management Association of China, and investment returns may be subject to macroeconomic, industry, and operational risks. However, the company believes the investment will not significantly impact its normal operations or financial condition.