China Isotope & Radiation Plans to Invest RMB 400 Million in Zhejiang Nuclear Technology Application Industry Fund
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According to the announcement, the fund will be registered in Jiaxing City, Zhejiang Province, with partners intending to subscribe to a total capital contribution of RMB 3 billion. Among them, China Isotope & Radiation plans to contribute RMB 400 million from internal resources, accounting for 13.33% of the fund's total subscribed capital; CNNC Fund, as the general partner, plans to contribute RMB 30 million, accounting for 1%; the National Industry Investment Fund plans to contribute RMB 1 billion, accounting for 33.33%; CNNC plans to contribute RMB 200 million, accounting for 6.67%; CNNC Capital plans to contribute RMB 170 million, accounting for 5.67%; Zhejiang Venture Capital Guidance Fund, Jiaxing Changchuang Industrial Investment, and Haiyan County State-owned Capital Investment each plan to contribute RMB 400 million, each accounting for 13.33%.
The fund will be contributed in RMB cash, and all partners shall pay their contributions in two installments of 40% and 60% of their subscribed capital during the investment period. The fund's term is 8 years from the date of first closing, with an investment period of 4 years. Its business scope includes equity investment, investment management, and asset management activities conducted as a private fund, and relevant business shall be carried out only after completing registration and filing with the Asset Management Association of China.
The announcement shows that 100% of the fund's investments will be directed to the nuclear technology application sector, with a focus on isotope production and preparation, nuclear medical equipment and innovative drugs, industrial irradiation and testing, security inspection and protection, as well as related applications of nuclear technology in industry, agriculture, healthcare, environmental protection, and safety, and key upstream and downstream segments.
Specifically, the fund intends to focus on three main areas: first, isotope production and preparation, including isotope production reactors, accelerator-based isotope production, extraction of isotopes from spent fuel, and large-scale production of stable isotopes; second, nuclear medicine and high-end equipment, including innovative radiopharmaceuticals, large-scale nuclear medical equipment, high-end irradiation equipment, security inspection equipment, and radiation monitoring equipment; third, key components and upstream materials, investing in key components, key materials, and other technologies related to nuclear technology applications and emerging industries.
China Isotope & Radiation stated that the above investment directions are consistent with the company's existing business layout and long-term strategic development direction. The company intends to further deepen its investment layout in the nuclear technology application sector through this fund, leverage the synergy of "fund + industry," while indirectly participating in frontier technological innovation and expanding opportunities for project cooperation, technology commercialization, and potential strategic mergers and acquisitions.
As CNNC is the controlling shareholder of China Isotope & Radiation, and CNNC Capital and CNNC Fund are wholly-owned subsidiaries of CNNC, the execution of this partnership agreement and the transactions thereunder constitute connected transactions and disclosable transactions for China Isotope & Radiation. The company will convene an extraordinary general meeting to seek approval from independent shareholders regarding the partnership agreement and related transactions.
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