On November 22, shanghai tunnel engineering (600820.SH) announced that its wholly-owned subsidiary, shanghai jianyuan investment co., ltd. (referred to as 'jianyuan investment'), intends to jointly establish hangzhou xiaoshan jianyuan environmental investment fund partnership enterprise (limited partnership) (referred to as 'xiaoshan jianyuan fund') with shanghai pudong leadership zone haitong private equity fund partnership enterprise (limited partnership), shanghai lujiazui international trust co., ltd., huaibei financial holding group co., ltd., hangzhou xiaoshan environmental investment construction group co., ltd. or its subsidiaries, hangzhou xiaoshan state-owned capital operation group co., ltd. or its subsidiaries, and the company's joint venture shanghai jianyuan equity investment fund management partnership enterprise (limited partnership) (referred to as 'jianyuan management'). Among them, jianyuan management, as the general partner, will contribute a committed amount of 10 million yuan. Jianyuan investment, as the limited partner, will contribute a committed amount of 400 million yuan.

The scale of xiaoshan jianyuan fund is 1 billion yuan, and it will continue to focus on the four major areas of 'construction and space,' 'energy and eco-friendly concepts,' 'water conservancy and water affairs,' 'urban infrastructure and transportation.' It will adapt to the trend changes in the urban construction industry, combine the achievements transformation and industrial incubation needs of shanghai tunnel engineering's five major sci-tech innovation centers, expand from the smart construction of cities to the smart operation of cities, gradually extending to higher value-added links.