The total scale of about 89 billion yuan, the newly established Shanghai Three Leading Industry Mother Funds (integrated circuits, biopharmaceuticals, artificial intelligence) will be in the form of limited partnerships, with Shanghai Guotou Leading Private Equity Fund Management Co., Ltd. (hereinafter referred to as "Guotou Leading") as the fund manager, with a fund term of 15 years for each.

In terms of fund scale, the three major fields of integrated circuits, biopharmaceuticals, and artificial intelligence correspond to scales of 45.001 billion yuan, 21.501 billion yuan, and 22.501 billion yuan, respectively. The scale of integrated circuits exceeds the total of the other two fields.

How will the Shanghai Three Leading Industry Mother Funds invest? What links in the three major fields will be the focus of investment? This is the focus of market attention. A reporter from First Financial Daily learned from a person in charge of a Shanghai state-owned asset institution that the investment implementation plan of the mother fund has not been fully finalized.

In recent years, Shanghai has been facing the forefront of world science and technology, continuously strengthening the layout of frontier emerging fields, seizing the high ground of future industries, and gradually taking a path of promoting high-quality industrial development with technological innovation, forming a group of representative sci-tech innovation enterprises with core technologies. With the start of the Science and Technology Innovation Board five years ago, a group of integrated circuit, biopharmaceutical, and artificial intelligence companies went public, continuously strengthening R&D investment while consolidating their core competitiveness.

Advertisement

89 billion yuan is invested in the three major fields.

Tianyancha shows that on July 22 this year, Shanghai Guotou Leading Artificial Intelligence Private Equity Investment Fund Partnership (Limited Partnership), Shanghai Guotou Leading Integrated Circuit Private Equity Investment Fund Partnership (Limited Partnership), and Shanghai Guotou Leading Biopharmaceutical Private Equity Investment Fund Partnership (Limited Partnership) (collectively referred to as "Shanghai Three Leading Industry Mother Funds") were registered and established, with the registration place being Pudong.

The main LPs of the Shanghai Three Leading Industry Mother Funds are the Shanghai municipal investment platform, the Shanghai district-level investment platform, Shanghai state-owned enterprises, and the two major local securities companies in Shanghai (Guotai Junan, Haitong Securities).

According to the reporter's understanding, the specific investment plan of the three leading industry mother funds has not been fully implemented. A person in charge of a Shanghai district-level investment platform that participated in the artificial intelligence mother fund said that they are very much looking forward to the implementation of the mother fund's investment plan, and in the future, they will further drive the development and growth of sci-tech innovation enterprises in the district. "We went to Shanghai Guotou last week to understand, but we did not get the specific plan for the mother fund's investment." The aforementioned person in charge of the Shanghai district-level investment platform said to First Financial Daily: "There are many bio-industry companies in our district waiting for investment, so we are also very eager to understand the investment direction, specific investment methods, and other details of the mother fund's investment."

In the announcement disclosed by Guotai Junan, the general investment direction has been clarified. The integrated circuit mother fund will focus on investing in fields related to integrated circuits, including but not limited to integrated circuit design, manufacturing and testing, equipment materials, and parts; the artificial intelligence mother fund will focus on investing in fields related to artificial intelligence, including but not limited to smart chips, smart software, autonomous driving, smart robots, etc.; the biopharmaceutical mother fund will focus on investing in fields related to biopharmaceuticals, including but not limited to innovative drugs and high-end preparations, high-end medical devices, biotechnology, high-end pharmaceutical equipment, etc.

As the manager of the three leading industry mother funds, Guotou Leading is a wholly-owned subsidiary of Shanghai State-owned Capital Investment Co., Ltd. (hereinafter referred to as "Shanghai Guotou"), and the actual controller is the Shanghai Municipal State-owned Assets Supervision and Administration Commission.It is worth noting that in mid-April this year, Shanghai Guotou Company and Shanghai Science and Technology Investment Group jointly reorganized. After the reorganization, Shanghai Science and Technology Group was directly held by Shanghai Guotou with 100% equity. The market generally believes that this joint reorganization will help Shanghai further develop cutting-edge science and technology industries, focus on "investing early, investing in small, and investing in hard technology", support breakthroughs in key core technologies and the transformation of scientific and technological achievements, accelerate the industrialization process, serve national strategies, build innovation sources and industrial incubation investment platforms, and coordinate state-owned capital to enable the development of new quality productivity. It is understood that in the future, the fund management scale of Shanghai Guotou will exceed 200 billion yuan. Listed companies in the three leading industries are accelerating their growth July 22 also coincides with the fifth anniversary of the opening of the Science and Technology Innovation Board. As a domestic "hard technology" highland, the Science and Technology Innovation Board brings together a group of listed companies in the fields of integrated circuits, biomedicine and artificial intelligence. Many of these companies have landed and grown in Shanghai. After years of development, they have not only grown into leaders in their respective fields, but also the "new business card" of Shanghai's three leading industries. According to a review by the First Financial Daily, as of the close of July 23, there were 443 listed companies in Shanghai, including 91 listed companies on the Science and Technology Innovation Board, with a total market value of 1.45 trillion yuan. In terms of industry, there are 41 companies in the new generation of information technology and 26 companies in biomedicine, and the number of companies in the two fields accounts for 73.62% of the total. Integrated circuits and artificial intelligence belong to the new generation of information technology. According to the Shenwan secondary industry classification, there are 28 listed companies on the Science and Technology Innovation Board of integrated circuits in Shanghai, covering design, equipment, wafer manufacturing, materials and other links. "Wafer aircraft carrier" SMIC (688981.SH) ranks first in total market value, reaching 392.088 billion yuan, and is also the first in market value on the Science and Technology Innovation Board; companies such as Lanqi Technology (688008.SH), China Microelectronics (688012.SH), Huahong (688347.SH), and Shanghai Silicon Industry (688126.SH) have a market value of more than 10 billion yuan. The recently disclosed A-share interim performance forecasts show that many Shanghai semiconductor listed companies have shown a gratifying performance growth in the first half of the year. EEPROM chip leader Juchen Co., Ltd. (688123.SH) released a performance forecast after the market on July 23. During the reporting period, the company achieved the best sales revenue in the same period in history. It is expected to achieve operating income of 515 million yuan in the first half of the year, a year-on-year increase of 62.37%; net profit attributable to the parent is 143 million yuan, a year-on-year increase of 124.93%. Juchen Co., Ltd. stated that with the recovery of demand in the downstream application market, the company's SPD products, NOR Flash products, automotive-grade EEPROM products, and industrial-grade EEPROM products used in industrial control and other fields have achieved rapid year-on-year growth in shipments. Previously, memory interface chip leader Lanqi Technology expected to achieve operating income of 1.665 billion yuan in the first half of the year, an increase of 79.49% over the same period last year; it is expected to achieve a net profit attributable to the parent of 583 million yuan to 623 million yuan, a year-on-year increase of 612.73% to 661.59%. In addition to the Science and Technology Innovation Board, Shanghai's local semiconductor leading companies such as Will Semiconductor (603501.SH) and Shanghai Belling (600171.SH) have also achieved rapid development in scale in recent years. On the other hand, 26 listed biopharmaceutical companies are mainly engaged in sub-tracks such as medical devices, medical services, and innovative drug research and development. In the first quarter of this year, these 26 companies achieved a total operating income of 8.3 billion yuan, compared with 7.62 billion yuan in the same period last year, an increase of about 9% year-on-year. The company with the highest market value is Junshi Biosciences (688180.SH), and 7 other companies with a market value of more than 10 billion yuan, including Ellis (688578.SH), Yirui Technology (688301.SH), Xinmai Medical (688016.SH), and Sunshine Guojian (688336.SH). Junshi Biosciences' Teplizumab is the first domestically produced oncology drug included in the Orbis project. Through this project, it has submitted a listing application to the Australian Therapeutic Goods Administration and the Singapore Health Sciences Authority and has been accepted. Recently, Junshi Biosciences announced that its new indication application for the combination of toripalimab and bevacizumab for the first-line treatment of patients with unresectable or metastatic hepatocellular carcinoma has been accepted, which is expected to drive Junshi Biosciences' performance growth in the future.