On July 23rd, GeLongHui reported that on July 23rd, 2024, Nanjing Daocaoxiong (as the transferee and indirect wholly-owned subsidiary of the company) and Tu Hui Investment (as the transferor) entered into a transfer agreement. Accordingly, Nanjing Daocaoxiong agreed to acquire the limited partnership interests (i.e. the corresponding subscribed capital of RMB 30 million) from the fund free of charge, and Tu Hui Investment agreed to transfer the limited partnership interests (i.e. the corresponding subscribed capital of RMB 30 million) to Nanjing Daocaoxiong free of charge. As of the date of this announcement, the subscribed capital of RMB 30 million for the relevant limited partnership interests has been subscribed but not yet paid by Tu Hui Investment.
The general partner has agreed to the acquisition. On July 23, 2024, Nanjing Daocaoxiong entered into a partnership agreement and agreed to be accepted as a limited partner of the fund, subject to the terms of the partnership agreement.
The fund (i.e. Harmonious Yuanda (Yixing) Cultural Industry Investment Fund (Limited Partnership)) is a limited partnership enterprise established in China on March 1, 2022. Its main activities include private equity investment, investment management, and asset management. The investment target of the fund focuses on new consumption upgrades, new cultural and sports tourism consumption scenarios, digital economy, new products, and new economic formats, focusing on the comprehensive empowerment of technological progress and innovation on cultural, sports, and tourism industry consumption, and seeks to invest in leading and high-growth companies through equity investment. In addition, the fund also seeks substantial capital gains through opportunities for mergers and acquisitions, private placement and other opportunities recognized by general partners.