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Shanghai Xinpeng to Invest 160 Million Yuan in Partnership Fund

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Shanghai Xinpeng Industry (SHE:002328) plans to invest 160 million yuan into a partnership fund, according to a Shenzhen bourse filing on Friday.

The seven-year fund, Jiaxing Jinpu Ruyi Venture Capital Partnership (Limited Partnership), will have a fund size of 374.1 million yuan and will focus on the macroeconomic industry. Shanghai Jinpu Xinpeng Private Fund Management will serve as the fund's manager.

The Chinese customized machinery parts manufacturer will own 45% of the fund.

The company's shares dropped 3% at the close.

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