Zheshang Haipeng Fund, invested by lead investor Zhejiang Zheshang Venture Capital Co., Ltd. and sized at RMB150 million, poured RMB45M into Zhengzhou Coal Mining Machinery (Group) Co., Ltd. (hereinafter referred to as ZMJ Group).

Mr. Yue Chen, Chairman of Zheshang Venture Capital, confirmed yesterday that Zheshang Haipeng Fund completed the registration at the Zhejiang Administration for Industry and Commerce on June 4, thus becoming the first equity investment limited partnership venture capital firm in Zhejiang Province.

ZMJ Group becomes the first deal of Zheshang Haipeng Fund. According to Yeyu Hua, Vice President of Zheshang Haipeng Fund, the investment was conducted by Haipeing and other VCs. Currently, ZMJ Group is carrying out a shareholding system reform to  actively prepare for its listing scheme.

Data show that the output of hydraulic support in ZMJ Group amounted to 6803 units and 143,500 tons in 2006. The output, ranking No. 1 slot across the world, is 2-3 times as much as the sum of that in Germany's DBT and US JOY.