As a domestic cement giant, from 2000 to 2020, Conch Cement 's revenue increased by more than 140 times, with the highest market value exceeding 300 billion yuan, known as "Cement Mao". With the change of industry cycle, Li Qunfeng, executive director and general manager of Conch Cement, said earlier that Conch Cement needs to find new profit growth points. As a LP (limited partner), it may also be based on this reason.
Recently, Conch Cement issued a notice. The company intends to co-invest with seven partners, including Jinshi Investment Co., Ltd., CITIC Private Equity Fund Management Co., Ltd., Conch Capital, CITIC City West Kechuang Corridor (Hangzhou) Equity Investment Fund Partnership, Wuhu Industrial Investment Fund Co., Ltd., in Anhui Conch Jinshi Innovation and Development Investment Fund Partnership (Limited Partnership). The total size of the fund is RMB 5 billion. Conch Cement, as a limited partner, intends to subscribe RMB 1 billion with its own capital, and Jinshi Investment acts as the fund manager.
Screenshot from Conch Cement Announcement
It is reported that the fund mainly invests in new energy, new materials, carbon technology, digital industry, green environmental protection, intelligent transportation and other strategic emerging industries, high-tech industries. In principle, the capital invested in the growing and mature enterprises shall not be less than 80% of the investment principal of all the investment portfolios of the partnership.
For this launch, Conch Cement said that by participating in the investment fund for innovative development, it will help the company to grasp the development trends of new energy, carbon technology, green environmental protection, digital economy and other strategic emerging industries in a timely manner, cultivate and incubate high-quality projects in line with the company's strategic development plan, and promote the development of new energy, carbon technology, green environmental protection, digital economy and other strategic emerging industries. Build a multi-level industrial development system, promote the transformation and upgrading of the company's industry, and help to further improve the efficiency of the use of the company's own idle funds, optimize the company's investment structure and diversify investment risks. It is not the first time
for Conch Cement to do LP. Conch Cement is participating more in new energy, new materials, industrial Internet and other fields through the layout of equity investment. In June
this year, Conch Cement announced that it intends to invest 1.5 billion yuan as a limited partner with its own capital to participate in the establishment of Anhui Conch Haitong Industrial Internet Parent Fund Partnership (Limited Partnership) (hereinafter referred to as "Partnership"). In addition, Conch Group's Conch Capital intends to invest 500 million yuan. The proportion of capital contribution of the two companies accounted for 30% and 10% of the capital contribution of the partnership respectively.
With regard to the direction of investment, the parent fund of the industrial Internet and the sub-fund set up by the fund will focus on projects with good development prospects in the "industrial Internet +" ecological platform. Including intelligent manufacturing, industrial platform, industrial software, industrial supply chain, industrial application solutions, industrial Internet hardware, blockchain, cloud computing, Internet of Things, artificial intelligence, 5G and other fields.
In this regard, Conch Cement said that the industrial Internet parent fund mainly invests in the industrial Internet industry, which is in line with the national strategy and industrial policy orientation, and has certain development potential and prospects. By participating in the investment of industrial Internet parent fund, it is conducive to grasping the opportunities of digital industry, optimizing the investment structure, promoting the industrial transformation and upgrading of listed companies through the integration of industry and finance, promoting the digital transformation of traditional manufacturing industry, and strengthening the technical reserve in the field of industrial Internet, attracting professionals and promoting the industrial development of listed companies.
As early as 2021, Conch Cement, together with China Building Materials Private Equity Fund Management (Beijing) Co., Ltd. and other limited partners, co-funded the establishment of China Building Materials (Anhui) New Materials Industry Investment Fund Partnership (Limited Partnership), with an initial fund size of 15 billion yuan. Conch Cement, as a limited partner, has subscribed 1.6 billion yuan.
Moreover, the fund clearly points out that the partnership shall not invest in cement, commercial mixing, aggregate and machine-made sand projects. Instead, it invests in the fields of new materials such as fiber and composite materials, glass-based materials, membrane materials, photoelectric materials, crystal materials and so on.
As the domestic cement industry has entered a bottleneck period, the profitability of related enterprises is under pressure, and Conch Cement has begun to actively look for new growth points.
Earlier, Li Qunfeng, executive director and general manager of Conch Cement, said that new energy is an important track for the company's transformation and development, one reason is that Conch Cement itself needs to find new profit growth points, and the future growth space of the new energy industry is still broad.
At the same time, the new energy business can provide strong support for the carbon reduction of the main cement industry and assist the main industry. The company has been studying the new energy industry chain, and the current investment projects are mainly power stations and energy storage. As we continue to develop upstream of the industrial chain, the company is also carrying out the layout of photovoltaic glass.
New energy, new materials, industrial Internet, this "cement grass" antenna has been extended farther and farther through investment.
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