Zhuhai Port to invest in PE fund

Guangzhou: Zhuhai Port announced that it plans to invest RMB50m to co-establish Zhuhai Lingxian Hi-tech Industry Investment Fund and become one of the partners.

The fund will raise RMB300m in total for the first phase and will invest in various sectors including IT, smart grid, port logistics and clean energy. Jiangsu New Yangzi Shipbuilding is also one of the investors.

However, the proposal has been opposed by Zhou Juan, one of the board members, as she believes the financial situation of the company is not very optimistic and the investment is not in line with the company’s development strategy.

Zhuhai Port reported a net loss of RMB764,198 in the first three quarters of this year. [31/10/14]

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