Summary by Futu AI
Feitian Cloud Technology Co., Ltd. ("Feitian Cloud") announced on September 30, 2024 that the company, together with Lotus Capital, Hainan Lingshui equity investment, and Beijing Quanshi World Online Network Information, jointly established the Smart Choice Navigation Fund on September 27, 2024, signing a partnership agreement. The Smart Choice Navigation Fund is a venture capital fund with a total investment of RMB 101 million, with Feitian Cloud contributing RMB 10 million as a limited partner. The fund has an investment period of 4 years, with the following 3 years as the exit period, extendable with unanimous consent of all partners. Management fees are 2% / year of the total contribution during the investment period, and 1% / year based on the unexited investment amount during the exit period. Profit distribution includes return of paid contributions, threshold profit distribution, and excess profit distribution. Losses are shared by all partners according to their contribution ratios. Feitian Cloud reminds shareholders and potential investors to consider multiple factors when evaluating the value of the company's stocks and to proceed with caution.