Three's Company Media Group (SHA:605168) proposed to establish a partnership fund with its subsidiary, Beijing San Ren Xing Shidai Zhishuan Technology and Ningbo Huixinfu Enterprise Management, according to a Wednesday disclosure on the Shanghai bourse.

The fund, Beijing Zhonglian Yungang No. 1 Enterprise Management Partnership (Limited Partnership), will have a subscribed capital worth 232.5 million yuan. It will be a specialized investment and operation platform for data centers.

The Chinese advertising media company will invest 139.50 million yuan into the fund, owning 60% of its capital.

Shidai Zhishuan and Huixinfu Enterprise Management will own 80% and 20% of the fund, respectively, after investing 186 million yuan and 46.5 million yuan.

Shares of the company slumped 10% at the close.