According to Zhitong Finance APP, Shanghai Sinotec (603121.SH) issued an announcement to accelerate the company's layout in the fields of autos intelligent manufacturing, sensors, and new energy fund. The company aimed to fully utilize the advantages of professional investment institutions in related fields, including project resources, industry ecology, and research capabilities, to further enhance its industrial integration capability and comprehensive competitiveness. On November 18, 2024, the company signed the "Wuxi Shengrui Venture Capital Partnership (Limited Partnership) Partnership Agreement" with Shanghai Yicun Private Fund Management Co., Ltd. (referred to as "Yicun Private Fund") and other partners, planning to use its own funds to participate in the establishment of the fund, with the main investment direction being frontier technologies and intelligent manufacturing.

The total subscribed capital of the fund is 176 million yuan, which will be contributed by all partners and can be raised through multiple deliveries. The fund manager can later increase the target fundraising scale of the partnership to 500 million yuan. Currently, the fund will first proceed with the initial closing, with the four initiators collectively subscribing a capital contribution of 176 million yuan, of which the company plans to subscribe 120 million yuan with its own funds, accounting for 68.18% of the total subscribed capital.