Recently, Tianjin Binhai Industry Fund Management Company (hereinafter referred to as "Binhai Fund Management Company") was formally established to engage in the management, operation and marketing of Binhai Industry Fund. As one of the company's major shareholders, Far East Horizon will join hands with other state-owned shareholders, market-oriented investment institutions and industrial capital to promote the high-quality development by using the strategic opportunities and policies that make full use of new momentum in Binhai District, Tianjin.

Binhai Fund Management Company is jointly funded and established by 16 shareholders including Tianjin Binhai New Area State-Owned Capital Investment and Operation Co., Ltd., Far East Horizon, China Minsheng Trust, Harbin Electric, Contemporary Amperex Technology Co., Limited (CATL) and Sequoia Capital. The main responsibilities include: entrusted management of the guidance fund, selection of the mother fund management institution, participation in the mother fund management institution, and relevant assessment of the mother fund. Yang Jun, general manager of Far East Horizon's Far Wing Investment, served as a director and member of the Investment Committee.

Binhai Fund Management Company will set up a Binhai Industry Development Fund. Based on capital, focusing on key areas of strategic emerging industries, and in combination with the industrial layout of Binhai New Area, the Fund will actively build a "bridge of industrial finance" to attract strategic emerging and high-tech industries to settle down and develop in Binhai New Area. It will focus on building, supplementing and strengthening industrial chains, highlight key points and implement policies based on industry situation, to build a number of 10-billion and 100-billion advanced industrial clusters with international competitiveness as well as a virtuous industrial "ecological circle" of mutual benefit.

The Tianjin Binhai Industry Development Fund was approved and established by the Tianjin Municipal Government. The size of the guidance fund reaches RMB 30 billion, with the Tianjin Municipal People's Government and the Binhai New Area People's Government each contributing RMB 10 billion, and the Binhai New Area Development Zone Administrative Committee contributing a total of RMB 10 billion. It will guide social capital raising through existing funds and market-oriented methods to attract domestic and foreign financial institutions, enterprises and other social capital, to reach a scale of more than RMB 100 billion in five years.