News
Company News
Media

Home> News> Company News

Guotong Fund and Syn Capital invest in Quanxing Machinery Group

2018.01.03

On January 3, 2018, the signing ceremony for the investment of Guotong Fund (established by CNIC Co., Ltd. “CNIC”) and Synergetic Innovation Fund Management Co., Ltd. (“SynCapital”) in Quanxing Machinery Group (“Quanxing”) was held in Zhuji, Zhejiang Province, China. Zhuji City Governor Wang Fenxiang, CNIC General Manager Zhou Yuxian, SynCapital Chairman Li Wanshou and Quanxing Chairman Jin Fangming attended the ceremony.

CNIC Corporation was jointly established by China’s Foreign Exchange Reserve and the State-owned Assets Supervision and Administration Commission of the State Council (“SASAC”). It is one of the most important investment platforms under the SASAC, being its main function to support the internationalization of Chinese companies and realize state-owned capital’s value preservation and appreciation.

Quanxing Machinery is a leading Chinese corporation in hydraulic steering pumps for commercial vehicles and electric buses, and among the only two in China able to produce hydraulic pumps and steering gear. In 2016, its hydraulic steering pump ranked first in China’s domestic sales, and its overseas business covered 96 countries.

Quanxing is CNIC and SynCapital’s first joint investment in a private company, which is especially significant.

The signing of the contract marks the landing of the CNY 348 million joint equity investment in Quanxing, as well as the stable strategic cooperation between CNIC, SynCapital and Quanxing, providing for the latter a solid base for its strategic layout in the automotive parts industry.

During the signing ceremony, attending leaders provided a speech, expressing the joint hope for forging a long-standing cooperation, supporting Quanxing and promoting Zhuji’s economic development.

CNIC General Manager Zhou Yuxiang expressed his gratitude for Zhuji city government’s long-standing support to CNIC and Guotong Fund. Quanxing is Guotong Fund’s first case investing in a private company and also a project of exploratory significance for Guotong Fund to participate in the reform allowing mixed ownership in private enterprises. CNIC will exert full efforts to assist Quanxing’s market opening and international expansion, support its entrance into the capital market, and hopes that under the parties’ joint effort, Quanxing will soon become a first-class enterprise with standardized management, excellent results and global competitiveness in its segment.

         SynCapital Chairman Li Wanshou remarked that Quanxing is Guotong Fund’s first private company project, and at the same time the first jointly invested project between CNIC and SynCapital. Quanxing joint investment case means a CNIC and SynCapital’s strong start in their private investment field cooperation, laying a solid foundation for the future. SynCapital will exert its maximum efforts to carry out the post-investment management, helping Quanxing to realize a stronger development. At the same time, relying on SynCapital team’s 20-year private company investment experience, realize advances in the private investment field cooperation with CNIC, hoping to achieve fruitful results in the future of the cooperation.

Contact Us

Add: 33/F, Building A, Tianli Center Business Plaza, Haide 3rd Road, Nanshan District,Shenzhen 518054 P.R.China
Tel: +86-755-8633 2495 、 +86-755-8633 1259
Fax: +86-755-8663 9552
Add:Room 3212,SOHO Nexus Center, No 19 Bei Lu Jia Road, East 3rd Ring Road ,Chaoyang District, Beijing
Tel:+86-010-8453 5256
Add:Room B0223,chuntian Media Building,No.181 Donghu,Wuchang District,Wuhan
Tel:+86-027-8856 8015
Tsynergie: 124 Boulevard de la Pétrusse, L-2330 Luxembourg
Email: job@syncapital.com
Website:www.syncapital.com

Legal notices Site map Links Contact us

Copyright © 2013-2016 Synergy Innovation Fund Management Co., Ltd. (syncapital)