On August 1, Zhangzhou Pientzehuang Pharmaceutical Co., Ltd. (hereinafter referred to as Zhangzhou Pientzehuang) announced the establishment of an industrial fund in collaboration with a professional investment institution, involving a related party transaction.
According to the announcement, Zhangzhou Pientzehuang’s wholly-owned subsidiary, Zhangzhou Pientzehuang Investment Management Co., Ltd. (hereinafter referred to as Pientzehuang Investment), intends to act as a limited partner and contribute 200 million yuan of its own or raised funds to establish an industrial fund with partners. The fund will be named Zhangzhou Yuanshan Health Industry Investment Fund Partnership (Limited Partnership).
In addition to Pientzehuang Investment, the related party transaction also involves Zhangzhou Zhanxin Venture Capital Fund Management Co., Ltd., Zhangzhou Pientzehuang Asset Management Co., Ltd., Zhangzhou Industrial Equity Investment Co., Ltd., and Zhangzhou Tourism Investment Group Co., Ltd. This constitutes a related party transaction but does not constitute a major asset restructuring as defined by the “Measures for the Administration of Major Asset Restructuring of Listed Companies.”
The target fundraising scale of this industrial fund is 1 billion yuan, which means that Pientzehuang Investment’s contribution accounts for 20% of the target fundraising scale.
It is understood that the newly established industrial fund will primarily invest in fields related to traditional Chinese medicine, biomedicine, medical devices, medical services, health and wellness, daily chemical products, and cosmetics.
Currently, the industrial fund is still in the planning and establishment stage, and the partnership agreement has not yet been formally signed. It still needs to go through registration and filing procedures with the market supervision authorities and the Asset Management Association of China, among other relevant institutions. Therefore, the specific implementation results are uncertain.
