The venture capital group's cooperative sub-fund has successfully passed the review for listing on the Shanghai Stock Exchange for the company Xingdesheng.

On August 28, 2023, the Nanjing Innovation Investment Group's cooperative sub-fund - Shenzhen Dacheng Chuanghong Private Equity Investment Enterprise (Limited Partnership) (referred to as "Dacheng Chuanghong Fund") invested in the company - Xingdesheng Technology (Suzhou) Co., Ltd. (hereinafter referred to as "Xingdesheng") was approved by the Shanghai Stock Exchange's main board.

The Dacheng Chuanghong Fund was established in August 2020, with a fund size of 6.944 billion yuan. The Hexi mother fund managed by Nanjing Innovation Investment Group contributed 100 million yuan. The fund manager, Shenzhen Dacheng Caizhi Venture Capital Management Co., Ltd., identifies and verifies investment opportunities through research on the upstream and downstream of the industrial chain, effectively covering industry hidden champions and specialized innovative enterprises with a comprehensive regional layout, focusing on fields such as information technology, intelligent manufacturing, energy conservation and environmental protection, medical health, and military industry. As of now, the Dacheng Chuanghong Fund has invested in 115 projects, of which 5 projects have been listed, 5 projects have passed IPO review, 7 projects have been reported for review, and more than 20 companies are preparing to apply for IPO. The Dacheng Chuanghong Fund invested in Xingdesheng in September 2021, empowering the company in business docking and strategic development, assisting in its growth.

Since its establishment, Xingdesheng has mainly engaged in the research and development, production, and sales of micro-special motors and related products. The company's micro-special motors and related products are mainly applied in the field of cleaning appliances represented by vacuum cleaners, and have simultaneously developed into other end application fields such as power tools and garden tools. As of now, the company holds more than 170 patents and has been recognized as a "High-tech Enterprise," "Suzhou Municipal Enterprise Technology Center," and "Jiangsu Provincial Engineering Technology Research Center" due to its excellent R&D and production capabilities. The company's products are sold directly to overseas brand manufacturers or indirectly to overseas markets through domestic complete machine manufacturers, widely active in multiple overseas markets including North America, Europe, and Japan, and are used in products of well-known large cleaning household appliance companies such as Bissell, Sharkninja, TTI, Black&Decker, Hoover, Panasonic, and Electrolux.

Source: Fund Department Shao Yifu

Reviewed by: Xue Yao

Published by: You Yi