The fund has a total scale of 15 billion yuan, with Zhongyuan Environment Protection announcing its participation alongside multiple state-owned enterprises and investment entities.
Zhongyuan Environment Protection announced on September 27 that it will jointly invest with Henan State-owned Capital Operation Group (contributing 29.98%), Henan Innovation Investment Group (contributing 20%), China Pingmei Shenma Holding Group, Zhongyu Aviation Group, Henan Railway Construction Investment Group, Henan Nongtou Xingnong Investment Co., Ltd., Henan Zhongyu Industrial Investment Group, Zhengzhou Guochuang Industrial Investment Co., Ltd., and Zhengzhou Zhengdong New District Dongchen Industrial Investment Partnership (Limited Partnership) to establish the Henan Province M&A Parent Fund. The general partner is Henan State-owned Capital Operation Group Private Equity Fund Management Co., Ltd.
The fund has a duration of 15 years, commencing from the date of establishment of the partnership, comprising a 10-year investment period and a 5-year exit period. With unanimous consent of the partners' meeting, the duration may be extended by 2 years. The investment sectors shall be determined in accordance with the "Henan Province Government Investment Fund Key Investment Sector List" compiled by the Henan Provincial Development and Reform Commission in conjunction with the Provincial Department of Finance and provincial industry regulatory authorities.
It is understood that the Henan Province Government Investment Fund Key Investment Sector List covers four major sectors — emerging pillar industries, future industries, traditional advantage industries, and modern service industries — spanning a total of 78 sub-sectors. Emerging pillar industries include 7 fields: next-generation information technology, new energy and new-type energy storage, new materials, modern equipment, biomedicine and health, low-altitude economy and aerospace, and intelligent connected new energy vehicles, with key support for high-end screens and new displays, integrated circuits, energy storage equipment, advanced chemical materials, industrial mother machines, innovative drugs, aerospace equipment, and new energy vehicles.
Future industries include 6 fields: artificial intelligence and embodied intelligence, hydrogen energy, biomanufacturing, quantum technology, next-generation information networks, and brain-inspired intelligence and brain-computer interfaces, with key deployment in frontier directions such as humanoid robots, general large models, full-chain hydrogen energy technology, biological breeding, quantum computing, and 6G mobile communications.
Leveraging traditional advantage industries, Henan Province has included 7 distinctive fields — agriculture, steel, coal, non-ferrous metals, food, building materials, and modern light textile — into the List, focusing on intelligent and green transformation and new product development to promote the upgrading of traditional industries.
Modern service industries include two fields: consumer services and producer services, with key support for emerging formats such as digital cultural industries, data industries, software products, inspection, testing and certification, and logistics services.