CC SECURITIES (01375.HK): Wholly-Owned Subsidiary Zhongding Kaiyuan Proposed to Participate in Establishing a Digital Equity Investment Fund with RMB 20 Million Commitment
NewTimeSpace News: On 12 August 2026, CC Securities (stock code: 01375) announced that the Board had approved Zhongding Kaiyuan's participation in establishing a partnership. Zhongding Kaiyuan (as general partner, executive partner and fund manager), Zhongyuan Jinxiang (as general partner and executive partner), Jinxiang Relay Fund (as limited partner) and Luoyang Cultural Tourism Digital Fund (as limited partner) propose to jointly establish Henan Xiangding Digital Equity Investment Fund Partnership (Limited Partnership) (provisional name, subject to final registration approval by the market supervision authority).
According to the announcement, the aggregate proposed capital commitment of all partners is RMB 104 million, of which Zhongding Kaiyuan proposes to commit RMB 20 million, representing approximately 19.23% of the total; Zhongyuan Jinxiang RMB 1 million (0.96%); Jinxiang Relay Fund RMB 45 million (43.27%); and Luoyang Cultural Tourism Digital Fund RMB 38 million (36.54%). The partnership proposes to invest in a subsidiary of Luoyang Cultural Tourism Group and is not expected to become a subsidiary of the Company upon establishment. Zhongding Kaiyuan intends to fund its capital contribution from its own resources.
In terms of pricing principles, the fund management fee is calculated on the basis of the fund's paid-in scale less the principal of exited investments, payable annually to Zhongding Kaiyuan at a rate of 0.72% per annum; the executive partner's remuneration is calculated on the same basis and paid annually to Zhongyuan Jinxiang at a rate of 0.48% per annum. For income distribution, when the fund's annualised return is below (or equal to) 6%, distributions are made pro rata to each partner's paid-in contribution; when above 6%, the portion exceeding 6% constitutes excess returns, of which Zhongding Kaiyuan and Zhongyuan Jinxiang are entitled to priority distribution of 20% (distributed between them at 60%:40%), with the remaining 80% distributed among all partners pro rata to paid-in contributions.
Zhongding Kaiyuan is a wholly-owned subsidiary of the Company, principally engaged in private equity fund management and venture capital fund management services. Upon completion of the establishment of the fund, Zhongding Kaiyuan will increase its private fund management scale, helping to strengthen the Company's private equity fund management capabilities. The announcement reminds that the fund is still at the preparatory stage, with no partnership agreement formally entered into; it is subject to registration and filing procedures with the market supervision authority and the Asset Management Association of China, and the actual implementation results are subject to uncertainty. Zhongding Kaiyuan has not yet entered into any agreement for the proposed partnership, and the Company will perform its information disclosure obligations in a timely manner according to transaction progress.
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