Meijin Energy to launch $140m investment fund

Shanxi Meijin Energy (SZSE:000723) is set to launch a $140 million equity investment fund through a limited partnership agreement with several entities, including Ningbo Lianchuang Yongjun Private Equity Fund Management. Meijin Energy will contribute $21 million as a limited partner. The fund will focus on advanced manufacturing and new energy industries within the Yu'an district of Ma’anshan. Meanwhile, subsidiary Shanxi Fenxi Taoyue Coal will borrow $36.7 million. Meijin will guarantee this loan. These moves are part of Meijin Energy’s strategy to enhance industry integration and promote high-tech applications in its core businesses.