Hangzhou Oxygen invests in new industrial fund, guarantees subsidiary loan

Hangzhou Oxygen Plant Group is set to invest RMB 200 million as a limited partner in the newly established Hangzhou Guolingyuanqi Venture Capital Partnership, a fund with a total committed capital of RMB 1 billion. This investment, representing 20% of the fund, is considered a connected transaction due to the involvement of Hangzhou Capital, an indirectly controlled shareholder of Hangzhou Oxygen. The fund aims to invest in industrial gases, cryogenic technology, and controlled nuclear fusion.

In a separate move, Hangzhou Oxygen will provide a guarantee of up to RMB 48.3 million for a project loan sought by its 70%-owned subsidiary, Jiyuan Hangyang Wanyang Jingkai Gas Co., Ltd. The total loan amount is RMB 69 million from Bank of China Hangzhou Kaiyuan Branch. This guarantee represents 0.53% of Hangzhou Oxygen's net assets as of the latest audited period and is subject to shareholder approval.

The total approved external guarantee amount for Hangzhou Oxygen and its subsidiaries after this transaction will be RMB 2.12896 billion, which accounts for 23.16% of its latest audited net assets.