Key Takeaways
- • China Merchants Securities (HK:6099) has approved the creation of the RMB5 billion China Merchants (Shenzhen) Artificial Intelligence Industry Private Equity Investment Fund Partnership, a 15-year vehicle managed by wholly owned unit CMS Zhiyuan Capital.
- • CMS Zhiyuan Capital will contribute RMB1 billion as general partner and manager, with limited partner commitments of RMB1.25 billion from CM Expressway, RMB250 million from CM Advanced and RMB2.5 billion from Guangming SCDI.
- • The fund will target computing power and electric power supply chains, embodied intelligence, on-device AI in finance and transportation, vertical AI models and AI agents.
- • Because CM Expressway and CM Advanced are associates of controlling shareholder China Merchants Group, the deal is a connected transaction under Hong Kong listing rules, requiring disclosure and annual review but exempt from independent shareholder approval.
Summary
China Merchants Securities Co., Ltd. Class H (HK:6099) has approved the creation of the China Merchants (Shenzhen) Artificial Intelligence Industry Private Equity Investment Fund Partnership, a RMB5 billion private equity vehicle, according to a company announcement reported by TipRanks. The fund is managed by CMS Zhiyuan Capital, a wholly owned subsidiary of the securities firm, and is set to run for 15 years.
CMS Zhiyuan Capital will act as general partner and manager, contributing RMB1 billion of the fund's capital. Limited partner commitments total RMB4 billion: RMB1.25 billion from CM Expressway, RMB250 million from CM Advanced and RMB2.5 billion from Guangming SCDI.
The fund will invest across computing power and electric power supply chains, embodied intelligence, on-device AI applications in areas such as finance and transportation, industry-specific vertical AI models and AI agents. The announcement frames the vehicle as part of the group's push to deepen exposure to China's fast-growing AI industrial ecosystem.
Because CM Expressway and CM Advanced are associates of controlling shareholder China Merchants Group, the arrangement constitutes a connected transaction under Hong Kong listing rules. It triggers disclosure and annual review requirements but is exempt from independent shareholder approval.
CMS Zhiyuan Capital will act as general partner and manager, contributing RMB1 billion of the fund's capital. Limited partner commitments total RMB4 billion: RMB1.25 billion from CM Expressway, RMB250 million from CM Advanced and RMB2.5 billion from Guangming SCDI.
The fund will invest across computing power and electric power supply chains, embodied intelligence, on-device AI applications in areas such as finance and transportation, industry-specific vertical AI models and AI agents. The announcement frames the vehicle as part of the group's push to deepen exposure to China's fast-growing AI industrial ecosystem.
Because CM Expressway and CM Advanced are associates of controlling shareholder China Merchants Group, the arrangement constitutes a connected transaction under Hong Kong listing rules. It triggers disclosure and annual review requirements but is exempt from independent shareholder approval.
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