Jiaxin Silk (002404): Participating In The Establishment Of Equity Investment Fund

Jiaxin silk (002404) announced on the evening of May 6 that in order to increase the company's investment in science and technology and innovation and cultivate new profit growth points with the investment capacity of professional investment institutions, The company decided to invest RMB 40 million with the general partner of Ningbo Meishan bonded port zone Zijin investment management partnership (limited partnership) (hereinafter referred to as "Zijin investment") to establish Hainan Jiaxu equity investment fund partnership (limited partnership) (hereinafter referred to as "the fund") to invest in advanced manufacturing with core technical capabilities and clear and stable profit model New generation of information technology, new energy, new materials, environmental protection, medicine and other industries are in the rapid growth and expansion period of enterprises.

The total scale of the fund is 616.6 million yuan. The general partner's son has made a capital contribution of 3.3 million yuan. The company, as a limited partner, has contributed 40 million yuan and other limited partners have contributed 573.3 million yuan.

According to the relevant provisions of the Listing Rules of Shenzhen Stock Exchange, the guidelines for self regulatory supervision of listed companies No. 7 - trading and related transactions, the articles of association and the working rules of the general manager of the company, the investment matters are within the authority of the general manager and do not need to be submitted to the board of directors and the general meeting of shareholders for deliberation.

The controlling shareholders, actual controllers, shareholders holding more than 5% shares, directors, supervisors and senior managers of the company will not participate in the subscription of fund units or hold posts in the fund in the future. This foreign investment does not constitute a related transaction, will not lead to horizontal competition, nor does it constitute a major asset restructuring as stipulated in the administrative measures for material asset restructuring of listed companies.