Wah Fu, Suzhou State established venture capital fund

Hua Fu International announced that the group's indirect wholly-owned subsidiary and Suzhou State Company Suzhou High-tech venture Investment signed cooperation intention agreement, the two sides will jointly set up the Suzhou Gaohua Venture Capital Management, management will be established venture capital fund, the Fund's target amount of 800 million yuan, the first stage of the scale of 100 million yuan.　　The fund will use venture capital and corporate equity investment methods to invest in High-tech, high growth and can be in the near future (typically 2 years) of the mature enterprises listed restructuring. The business scope of investment enterprise includes new energy, new material, service, new environmental protection and new agriculture and other industries. Gaohua Management Company will be responsible for the search and selection of investment projects, investment negotiations and transaction design, value-added services and supervision after the investment and so on.