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FINWIRES

USI to Invest 50 Million Yuan in Private Equity Fund; Shares Slide 4%

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Universal Scientific Industrial (Shanghai) (SHA:601231) will invest 50 million yuan to subscribe as a limited partner to a private equity fund, according to a Friday filing with the Shanghai bourse.

The investment aims to help USI capture new development opportunities in artificial intelligence.

Prior to the transaction, the Shanghai Shangce Xingrongxin Private Equity Investment Fund Partnership held a total investment of 466.3 million yuan.

The planned total capital contribution of the fund will now be 626.3 million yuan, according to the filing.

Shares fell nearly 4% in later-morning trade on Friday.

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