Binhua Group: Participation in the establishment of a 400 million yuan venture capital fund has been filed.

Binhe Corporation announced that on December 23, 2025, the company and its subsidiary Hengqin Changyue, Guotou Guofu Fund, and Guotou Investment Management Group signed an agreement to establish a total size of 400 million yuan Binzhou Beikun Leadership Entrepreneurship Investment Fund partnership enterprise. The company and Guotou Investment Management Group, as limited partners, subscribed for a total capital contribution of 199 million yuan, while Hengqin Changyue and Guotou Guofu Fund, as general partners/executive partners, subscribed for a total capital contribution of 1 million yuan. Recently, the fund has been filed with the China Securities Fund Industry Association, with a filing date of January 21, 2026. The investment projects of this partnership enterprise have uncertainties, with risks of lower-than-expected returns.