Geer shares in the Shenzhen Stock Exchange today announced that the company, the company’s holding subsidiary with the song venture capital and Miha You, three seven mutual entertainment signed a partnership agreement, intends to subscribe a total of RMB 555.56 million to carry out venture investment activities.
The subject of this investment is Qingdao Tongge Phase I Venture Capital Fund Partnership (Limited Partnership) (“Tongge Phase I Fund” or “Partnership”), which is jointly invested by Geer and its holding subsidiary Tongge Venture Capital with its own capital of RMB99 million and RMB1 million, respectively. (hereinafter referred to as “Tongge Phase I Fund” or “Partnership”), which was jointly established by Geer and its holding subsidiary Tongge Ventures with their own capital of RMB 99 million and RMB 1 million respectively.
After the signing of the partnership agreement, the first phase of the fund will complete the registration and filing process as soon as possible and promote related investment matters as soon as possible.
Regarding the investment direction, the announcement shows that the partnership will make equity or quasi-equity investments (excluding convertible debt) in unlisted startups in the fields of advanced manufacturing, intelligent networked vehicles, augmented reality / virtual reality, and semiconductors.
“The Company and its subsidiaries jointly invest in foreign investment based on the medium and long-term strategic layout of the Company, which can leverage the investment experience, professional ability and resource advantages of the fund manager, and combine with the Company’s professional advantages in the fields of consumer electronics, VR/AR, semiconductor and advanced manufacturing for many years, invest in projects that have synergy with the Company’s main business and are in line with the Company’s development strategy, continuously improve the industrial chain layout and enhance the Company’s comprehensive competitiveness, as well as expand the Company’s investment channels and obtain investment income, which is in the interests of the Company and all shareholders.”
