Zhejiang Century Huatong Group (002602.SZ), Dalian Zeus Entertainment (002354.SZ) both announced Tuesday evening that their subsidiaries planned to cooperate with Shanghai Qianshengyuxi Asset Management Co., Ltd. and Shanghai Maihu Equity Investment Funding Management Co., Ltd. in setting up a five-billion-yuan worth of Internet industry fund together.
The fund will invest in Internet-based cultural, entertainment, and game sectors. General partners of the fund are to contribute no less than 10 percent, and the remaining share will be contributed by limited partners and be raised from qualified social investors. All partners will make the contribution by cash.
According to Zhejiang Century Huatong Group, the industry fund will be invested in Internet companies with potential to enhance the company's profitability by expanding the industry chain.Dalian Zeus Entertainment said the investment will raise the company's profile and business capacity in the Internet industry and benefit the development of the company in the long run.
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