Shanghai Dazhong Public Utilities Co., Ltd. (Dazhong Public Utilities), Fujian Fengzhu Textile Science and Technology Co., Ltd. (Fengzhu Textile) and Ningbo Yunsheng Co., Ltd. simultaneously announced on April 2 that they will co-establish Shanghai Xingye Venture Capital (Shanghai Xingye). Shanghai Xingye conducts equity investment to Pre-IPO companies with high potentials.

Based on relevant announcement, the registration capital of Shanghai Xingye is RMB240M. Therein, Dazhong Public Utilities and Ningbo Yunsheng each invested RMB40M, accounting for 16.667% of the total each. Fengzhu Textile and its affiliated firm Quanzhou Everbright Industry & Trade each invested RMB20M, for 8.333% of the total each. In addition, Shanghai Yida Technology Co., Ltd. holds a 16.667% stake of total. Fujian Hurendui Sports Good Co., Ltd, Shanghai Wind Information Co., Ltd., Shanghai Wealth United Investment Group  and Silver Peak Development (ShangHai) Co., Ltd each hold 8.333% stake of Shanghai Xingye.

Shanghai Xingye will be mainly engaged in venture capital businesses and be an investment agency for other organizations or individuals. In addition, it will conduct investment/management consultancy, and will also participate in establishing investment companies or investment management advisory institutions.