Sunwoda subsidiary invests in new energy private equity fund

Sunwoda Electronic Co. announced that its wholly-owned subsidiary, Shenzhen Qianhai Hongsheng Venture Capital Service Co., will jointly invest in Shenzhen Yuanzhi Gangxin Smart Energy Industry Private Equity Investment Fund Partnership. The total committed capital for the fund will be RMB 300 million. Qianhai Hongsheng will contribute RMB 60 million, representing a 20% stake.

Other limited partners include Shenzhen New Energy Storage Industry Equity Investment Fund Partnership contributing RMB 147 million (49%), and Towngas Energy Investment Co. contributing RMB 90 million (30%). Shenzhen Yuanzhi New Energy Storage Private Equity Fund Management Co., the general partner, will contribute RMB 3 million (1%) and serve as the fund manager. The fund's primary investment focus will be on enterprises operating industrial and commercial energy storage power station projects within China.

This investment aims to leverage professional investment institutions' resources and advantages in the energy storage sector to expand Sunwoda's industrial investment business, enhance its competitiveness, and align with the company's strategic development. The funding for this investment will come from Sunwoda's own capital and is not expected to materially impact the company's current or future financial performance or operating results.