HGTECH: Plans to invest 98 million yuan to participate in the establishment of a 200 million yuan venture capital fund

HGTECH announced that its wholly-owned subsidiary, HG Investment, plans to use its own funds of no more than 98 million yuan to jointly initiate the establishment of the HG Future Venture Capital Fund Partnership with HG Ruiyuan, Wuhan Fund, and others. The fund size is 200 million yuan, with an initial contribution of 100 million yuan, and HG Investment will hold a 49% property share. Since some directors of the company hold positions in HG Ruiyuan, Wuhan Fund, and others, this transaction constitutes a related party transaction and does not constitute a major asset restructuring, and can be implemented upon approval by the board of directors. The investment areas include AI artificial intelligence, robotics, and more. In the past 12 months, the company has conducted a certain amount of related party transactions with some related parties. This investment carries risks such as business registration and investment failure