Recently, Shangfeng Cement disclosed its investment, and Ningbo Shangrong Logistics Co., Ltd. , a wholly-owned subsidiary of the company, invested 90 million yuan. (hereinafter referred to as "Huiyou Private Equity") and other institutions jointly initiated the establishment of Suzhou Ruicun Venture Capital Partnership (Limited Partnership) . The total size of the
fund is 173 million yuan, focusing on investment in semiconductor industry and related new materials. This initiative is another concrete practice of Shangfeng Cement to implement the "main industry + investment" two-wheel drive strategy and deepen the layout of the semiconductor industry chain, providing support for the company's strategic transformation to the new material business. The layout
of Shangfeng Cement in the semiconductor field is based on long-term strategic planning, showing a sustained trend of promotion. Since the launch of new economic equity investment business in 2020, the company has listed the semiconductor industry as the core investment direction, formulated investment plans every year and submitted them to the board of directors for approval, continuously promoted the layout of key links in the semiconductor industry chain, and has formed a whole industry chain investment system covering materials, equipment, manufacturing, sealing and testing. In 2025, through the establishment of special funds, the company successively completed strategic investment in semiconductor enterprises such as Xinhua Semiconductor and Xinfeng Science and Technology, and realized the layout of key value links in the semiconductor industry chain.
At present, the company has invested more than 2 billion yuan in semiconductor, new energy and other new economic fields, with 27 investment projects. Among them, Jinghe Integration and Onruiwei have landed on the Kechuang Board, and many shareholding enterprises such as Changxin Science and Technology and Shenghe Jingwei have entered the process of IPO declaration. In 2024, the net profit contribution of the company's equity investment accounted for 22.6%, with a cumulative profit of 530 million yuan in the past five years, forming a virtuous circle of "investment-cultivation-exit-reinvestment". The core logic
of Shangfeng Cement's joint venture to set up an industrial fund is to integrate the core resources of the semiconductor industry chain relying on capital ties and build an ecological enabling platform for the transformation of the company's new material business. In the fund LP matrix, the long-term strategic cooperation institution of Shangfeng Cement, Lanpu Venture Capital, is a professional investment institution focusing on the fields of semiconductors and new materials; Zhengfan Technology has technical reserves and market layout in key links such as special gases, electronic chemicals and process equipment required for semiconductor manufacturing; Huiyou Private Equity was founded by the former co-founder of BYD, focusing on the core links of the key and core technology industry chain such as semiconductors. Through multi-level LP resource linkage, the company can link leading enterprises in the semiconductor industry, local industry guidance funds and other multiple capital forces, dock upstream and downstream resources of the industrial chain, promote cooperation with industrial chain enterprises in technology research and development, resource sharing, capacity coordination and other dimensions, and build "industrial resource integration + professional investment empowerment". To provide all-round support for deepening the layout of the semiconductor industry chain. The construction of the above
coordinated development pattern is in line with the core direction of the company's strategic transformation. According to the company's new five-year (2025-2029) strategic development plan, the core goal of the company's strategic transformation is to cultivate the growth business of new materials represented by semiconductors, and ultimately form a new pattern of coordinated development of the troika of "building materials cornerstone business, equity investment capital business and new materials growth business". Relying on the fund platform, the company will strengthen the linkage effect of capital empowerment and industrial synergy, enhance its participation and influence in the semiconductor industry chain, and lay a solid industrial foundation for cultivating the second growth curve.
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