Hengjian Holding and Gortune Investment Join Forces to Establish China’s First Provincial-Level Prefabricated Dish Industry Fund
On July 7, the inaugural conference of the Guangdong Rural Industry Investment Alliance and the establishment ceremony of the Guangdong Prefabricated Dish Industry Investment Fund were held in Guangzhou. This marks the official launch and operation of China’s first provincial-level prefabricated dish industry investment fund, opening a new model of financial support for the high-quality development of the prefabricated dish industry.
The conference, themed “Rural Revitalization by Benefitting Industries with Capital”, was hosted by the Department of Agriculture and Rural Affairs of Guangdong Province and Guangdong Hengjian Investment Holding Co., Ltd. (hereinafter “Hengjian Holding”). Gortune Investment Co., Ltd. (hereinafter “Gortune Investment”) was the organizer. Leaders from the Department of Agriculture and Rural Affairs of Guangdong Province, Guangdong Local Financial Supervision and Administration, and the China Securities Regulatory Commission Guangdong Bureau attended the ceremony. Tang Jun, Party Secretary and Chairman of Hengjian Holding; Wang Hongjun, Party Deputy Secretary, Director, and General Manager; Feng Jian, Party Committee Member and Deputy General Manager; and Xie Songfeng, Co-Chairman and General Manager of Gortune Investment, participated in the event.
The scale exceeds RMB10 billion
Use the fund as a lever to promote the development of the prefabricated dish industry
In the past three years, Guangdong has taken a leading position in grain security, food safety, energy security, and rural revitalization, becoming the first in the country to systematically and organizationally promote the prefabricated dish industry, and setting the pace for the whole country. The establishment of the Rural Industry Alliance and the Prefabricated Dish Industry Investment Fund is in line with the spirit of the 13th Guangdong Provincial Party Congress and the overall arrangements and specific measures outlined in the Ten Measures for Accelerating the High-Quality Development of Guangdong’s Prefabricated Dish Industry (hereinafter “Guangdong’s Ten Measures on Prefabricated Dish”) of the General Office of the Guangdong Provincial Government.
In March of this year, the Guangdong’s Ten Measures on Prefabricated Dish proposed leveraging the Provincial Agricultural Supply-Side Structural Reform Fund to build a Guangdong prefabricated dish industry development fund system, effectively reducing financing difficulties and costs for enterprises, and accelerating the development of a prefabricated dish industry hub with national and even global influence. After 100 days, the Guangdong Prefabricated Dish Industry Investment Fund has officially launched, demonstrating the “Guangdong speed” in driving high-quality development through financial support for the prefabricated dish industry.
The Guangdong Agricultural Supply-Side Structural Reform Fund Management Co., Ltd. (hereinafter referred to as the “Agricultural Fund Company”), under Hengjian Holding, has collaborated with Gortune Investment to jointly initiate the establishment of the Guangdong Prefabricated Dish Industry Development Investment Fund (hereinafter referred to as the “Prefabricated Dish Industry Fund”), with an initial fund size of RMB5 billion. The fund is expected to quickly grow to over RMB15 billion through sub-funds in the future.
At the establishment ceremony, Tang Jun introduced Hengjian Holding’s efforts to fully promote financial support for rural revitalization, while Wang Hongjun discussed the formation of the Prefabricated Dish Industry Fund. In the future, Hengjian Holding will further leverage its position as a major strategic investment platform for the provincial Party committee and government, and use the Prefabricated Dish Industry Fund to accelerate the establishment of a financial support platform for the development of the Guangdong prefabricated dish industry, an industrial chain investment platform, and a platform for scientific research and technological achievement transformation, thus promoting the high-quality development of the prefabricated dish industry.
Inject financial vitality
A strong alliance between state capital and social capital
At the meeting, the two founders of the Guangdong Prefabricated Dish Industry Investment Fund attracted significant attention.
Hengjian Holding is a major strategic investment platform for the Guangdong Provincial Party Committee and Provincial Government, as well as a provincial state-owned capital management company. The company has total assets of RMB356 billion and net assets of RMB179.4 billion, making it the largest state-owned enterprise in Guangdong in terms of net assets and capital strength. The Agricultural Fund, which Hengjian Holding leads and manages, is the first agricultural supply-side structural reform fund in the country. To date, the fund’s accumulated subscription scale has reached RMB20.8 billion, with 20 sub-funds established, leveraging over RMB10 billion in social capital for investment in Guangdong’s agricultural and rural sectors, covering 16 cities across the province.
Gortune Investment is the most representative private investment platform among those established in various provinces across the country, covering the widest range of sectors and composed of the most representative private enterprises. Its shareholders include traditional industries and high-tech industries from Guangdong and even nationwide. “In the future, Gortune Investment will actively practice the ‘finance+industry’ new model, providing a viable solution to the development and financing challenges faced by prefabricated dish companies. This is a new topic and opportunity for the financial industry and also a new challenge and opportunity for prefabricated dish Investment,” said Xie Songfeng. As the co-executive managing partner of the prefabricated dish fund, Gortune Investment will leverage its industry advantages in the capital market, focusing on investing in advantageous industries, listed companies, and leading enterprises across the country, providing comprehensive support and empowerment for enterprises, and driving the “chain development” of the prefabricated dish industry.
The collaboration between the two strong enterprises will effectively inject “financial vitality” into the development of the prefabricated dish industry.
Project signing
“Chain development” of prefabricated dish
During the ceremony, four prefabricated dish projects were signed. Hengjian Holding and Gortune Investment signed the framework agreement on the cooperation to establish the “Guangdong Prefabricated Dish Industry Investment Fund”; the Guangdong Agricultural Supply-Side Structural Reform Fund Management Co., Ltd. signed a cooperation framework agreement with Lehe Food Group Co., Ltd.; the Guangdong Agricultural Supply-Side Structural Reform Fund Management Co., Ltd. signed a cooperation framework agreement with Guangzhou Qdama Agricultural Products Co., Ltd.; and the Agricultural Fund’s sub-fund, Guangzhou Hezhi Equity Investment Center (Limited Partnership), signed a project investment agreement with Guangzhou Qdama Agricultural Products Co., Ltd.
It was noted by reporters that the signing parties were all leading enterprises in the sales end of prefabricated dish, reflecting the strategic direction of the Prefabricated Dish Industry Fund to “strengthen sales channels and activate market demand”.
Qdama, widely known for its “no overnight meat” concept, has been offering “cooked products” in its stores since entering communities in 2013. With the emergence of the prefabricated dish concept, Qdama began promoting short shelf-life prefabricated dishes with a “daily fresh” model, ensuring that food produced today reaches consumers’ tables the next day. In the agreement signed with the Agricultural Fund Management Company, one side provides rich resources from agricultural enterprises, while the other offers the most advanced market consultation. Both sides leverage their respective resources, with the Guangdong Prefabricated Dish Industry Development Fund serving as the capital tool and the channel construction acting as the market integration tool to promote the growth and strengthening of the Guangdong prefabricated dish industry.
At the meeting, Hengjian Holding stated that it would leverage its capital operation “circle of friends” and its “10 billion-level fund cluster” advantages, actively collaborating with relevant units to support and drive the rapid development of Guangdong prefabricated dish companies through mergers and acquisitions, forming a group of “chain-leading” enterprises. This would promote the strengthening, supplementation, and extension of the prefabricated dish industry chain in Guangdong, striving to make the fund a financial support platform for the development of the Guangdong prefabricated dish industry, an investment platform for the Guangdong prefabricated dish industry chain, and a platform for technological R&D and the transformation of technological achievements.
