On June 13, Ningbo Huaxiang unveiled its intention to collaborate with Bank of China Capital Private Equity Fund Management (Beijing) Co., Ltd., Ningbo Fengmei Management Consulting Co., Ltd., Bank of China Financial Asset Investment Co., Ltd., Ningbo Tongshang Huigong Industrial Investment Fund Partnership, and Xiangshan Hongcheng Equity Investment Fund Partnership to establish the Ningbo Zhongying Fuyao Xingxiang Equity Investment Fund Partnership. With a total fund size of 1 billion yuan, Ningbo Huaxiang will contribute 299 million yuan as a limited partner. The fund's primary focus will be on investments within the automotive components industry, aiming to bolster the growth of Ningbo's real economy through mergers and acquisitions, corporate restructurings, and direct equity investments in cutting-edge technological innovation projects, while also harnessing the local industrial strengths.