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China Mobile Games invests 163 million yuan in portfolio investment strategies in emerging industries

2019-12-03T03:32:10.336Z

China Mobile Games (0302) announced that Shenzhen China Mobile Games signed a partnership agreement with Guohong Jiaxin, Angel Investment Guidance Fund and Shenzhen Shengxin to establish a partnership. Shenzhen China Mobile Games invested 163 million yuan, all partners of the partnership



Financial news

Written by: Jingjing He

2019-12-03 11:22

Last updated: 2019-12-03 11:22

China Mobile Games (0302) announced that Shenzhen China Mobile Games signed a partnership agreement with Guohong Jiaxin, Angel Investment Guidance Fund and Shenzhen Shengxin to establish a partnership. Shenzhen China Mobile Games invested 163 million yuan, and all partners of the partnership subscribed for 300 million yuan.

The partnership intends to make angel investments in strategic emerging industries, future industries and other key development industries supported and encouraged by the Shenzhen government, mainly in the form of equity securities and / or convertible bonds.

In addition to obtaining long-term investment returns for the group, investing in these industries is expected to accelerate its development, and at the same time help the group to obtain opportunities to establish further business cooperation with companies in these industries to incubate the group's IP and enrich the group IP content, promote the group ’s mobile games and achieve synergies, thereby promoting the group ’s business development.

A partnership enterprise has an investment period of 4 years from the date of its establishment (can be extended upon approval of the partners' meeting), and an exit period of 3 years after the expiration of the investment period. With the approval of the partners' meeting, the partnership enterprise may enter a three-year extension period after the expiration of the partnership to completely withdraw from all investment projects.

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Source: hk1

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