S.F. Holding unit Shenzhen Tongcheng commits RMB 213 million to Suzhou VC fund

• S.F. Holding controlled unit Shenzhen S.F. Intra-city Logistics committed RMB 213 million as limited partner in Suzhou Xiaoyu Chengxi Venture Capital Partnership, equity fund targeting smart, low-carbon, new energy, logistics technology, local services opportunities.
• Fund targets RMB 700 million in total commitments; RMB 436 million committed so far.
• Vehicle structured with 7-year term from fund formation; 4-year investment period from first closing; remaining term allocated to exit period, with extensions possible.
• Limited partners receive return of capital first, then 8% IRR preferred return; remaining gains split 80% to limited partners, 20% to general partner, following general partner catch-up.
• Fund not yet fully raised; product filing with Asset Management Association of China not yet completed.

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