Huidong County Hengli Industrial

Zhao Xingxiang, the founder and legal representative, is the sole publicly named principal. The firm has no disclosed investment committee or additional managing partners. Zhao's signature appears on all known corporate registrations linking the firm to its co-investments with Shenzhen Capital Group and Taidong Group.

The firm operates across three distinct silos: direct-owned industrial land in Pinghai Town, Huidong County; equity stakes in regional financial institutions, specifically Dongguan Rural Commercial Bank; and LP commitments to venture capital funds, executed through Huizhou Hongtu Venture Capital in partnership with Shenzhen Capital Group. The land holdings and bank equity are balance-sheet positions, while the venture exposure is via commingled vehicles.

Taidong Group is a frequent co-investor alongside Zhao's firm in Huizhou-based financial and industrial projects. The partnership appears operational rather than structural — the two entities co-deploy on specific regional deals but maintain separate corporate identities. Taidong Group itself is a Guangdong-based conglomerate with interests in real estate and infrastructure.

The firm does both. It holds a direct minority equity stake in Dongguan Rural Commercial Bank, a position traceable through corporate registrations. Separately, it commits to venture funds via Huizhou Hongtu Venture Capital, a platform that includes Shenzhen Capital Group as a co-investor, indicating a bifurcated strategy of direct balance-sheet equity and LP fund commitments.

All known investments are concentrated within Guangdong province's Pearl River Delta, spanning Huizhou, Dongguan, and Shenzhen. The firm's industrial land sits in Pinghai Town, Huidong County. Its bank equity is in Dongguan, and its venture co-investments route through Shenzhen-based counterparties. There is no evidence of investments outside this corridor.