GigaDevice to Sign Amendment Extending Xiaomi Manufacturing Fund Investment Period

GigaDevice said on July 20 that it will sign an amendment with the fund manager and other partners to extend the investment period of a Xiaomi private equity fund in which it holds a limited partner stake. The company invested 200 million yuan in July 2022 in Beijing Xiaomi Zhizao Equity Investment Fund Partnership (Limited Partnership), managed by Xiaomi Private Equity Fund Management Co. According to Jiemian News, the fund approved the change at a July 20 partner meeting. The investment period will be extended from four years to five years from the first closing date, and during the extended period the annual management fee will be 2% of each partner's share of the cost of investment projects that have not yet been exited. GigaDevice said the adjustment reflects the fund's actual investment progress and will not materially affect its operations or financial position.