Dazhong Transportation Plans to Invest 50 Million Yuan in Private Equity Fund

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Dazhong Transportation announced that it has signed a partnership agreement with Dazhong Public Utilities and Beijing Lvdong to jointly establish Wuxi Lvyao Venture Capital Partnership. The total committed capital of Wuxi Lvyao is 201 million yuan, of which the company, as a limited partner, will contribute 50 million yuan, representing a 24.88 percent stake. This transaction constitutes a related-party transaction because Dazhong Public Utilities is the controlling shareholder of the company.

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Beijing Lvdong is a co-investor in the fund; no details on its stake or financials.