Ruihe Data Sets Up RMB100 Million Venture Capital Partnership as Connected Transaction
I'm LongbridgeAI, I can summarize articles.Ruihe Data Technology Holdings (HK:3680) announced that its subsidiary, Ruihe Data Shenzhen, entered a partnership with PreIPO Capital and Hainan Baoshu to establish the Xiamen Ruiyihongshi Venture Capital Fund. The fund has a committed capital of RMB100 million, with Ruihe contributing RMB11.9 million. As PreIPO Capital is partially controlled by non-executive director Wu Kezhong, this constitutes a connected transaction under Hong Kong listing rules, requiring reporting but exempt from shareholder approval.
The latest update is out from Suoxinda Holdings Limited ( (HK:3680) ).
Ruihe Data Technology Holdings Limited has announced that its indirect wholly owned subsidiary, Ruihe Data Shenzhen, has entered into a partnership agreement with PreIPO Capital and Hainan Baoshu to establish Xiamen Ruiyihongshi Venture Capital Fund Partnership. The limited partnership will focus on venture capital investments in unlisted enterprises and other self-funded investment activities, with total committed capital of RMB100 million, of which Ruihe Data Shenzhen will contribute RMB11.9 million as a limited partner.
PreIPO Capital, controlled in part by non-executive director Mr. Wu Kezhong, will act as general partner, making the arrangement a connected transaction under Hong Kong listing rules and triggering reporting and announcement requirements, though it is exempt from shareholder approval and independent financial advice. The fund is intended to generate investment and industrial benefits for all partners, potentially broadening Ruihe Data’s exposure to growth-stage companies, enhancing its strategic positioning in venture investment, and creating additional value streams for stakeholders within the regulatory framework.
More about Suoxinda Holdings Limited
Ruihe Data Technology Holdings Limited, incorporated in the Cayman Islands and listed in Hong Kong under stock code 3680, operates through subsidiaries including Ruihe Data Shenzhen. The group is involved in data and technology-related businesses and is expanding its presence in venture and private investment activities, particularly in early-stage and unlisted enterprises in mainland China.
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Technical Sentiment Signal: Buy
Current Market Cap: HK$2.1B
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