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Proya Cosmetics Subsidiary to Invest 100 Million Yuan in Venture Capital Fund; Shares Fall 3%

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Proya Cosmetics (SHA:603605) subsidiary Proya (Hainan) Investment will invest 100 million yuan for a 3.23% stake in a venture capital fund and become a limited partner, according to a Wednesday filing with the Shanghai bourse.

The Ningbo Zhixing Yueheng Venture Capital Partnership is a 3.1 billion-yuan fund that invests in technology manufacturing, biopharmaceuticals, technology, and consumer sectors, the filing said.

The fund has a term of seven years.

Shares in the cosmetics company fell 3% during afternoon trading on Wednesday.

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