CNGR Advanced Material (SHE:300919) invested 28 million yuan to establish Changsha Gongrong Innovation No. 1 Equity Investment Fund.
The investment comprises 40% of the fund's total subscribed capital of 70 million yuan, according to a Tuesday filing with the Shenzhen bourse.
The fund is to be established via a partnership with ICBC Capital, Changcai Private Equity, ICBC Investment and Changtou Blue Moon Valley.
Shares of the battery company were down 4% in recent trade.
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