Yuhuan State-owned Assets Investment and Management Group

The group is overseen by the Yuhuan Municipal Finance Bureau, which serves as its ultimate controlling shareholder and government oversight body. Day-to-day management rests with Chairman and Legal Representative Li Hui. This places the group within China's system of local-government financing vehicles (LGFVs), where municipal bureaus steer capital allocation toward urban development and industrial-policy objectives.

It does both. The group directly owns and manages urban infrastructure, affordable housing, and commercial properties. For equity investments, it operates the Yuhuan Industry Mother Fund, which executes direct venture deals spanning seed, start-up, expansion, and late-stage rounds, as well as PIPE transactions. Public records do not detail what portion of the fund is allocated to third-party fund commitments.

The Yuhuan Industry Mother Fund is the group's primary equity-investment vehicle, headquartered in Yuhuan, Zhejiang. It targets the full venture lifecycle — from early-stage seed deals through growth equity and PIPE investments. The fund's sector focus is not publicly disclosed but is consistent with the municipality's efforts to attract and scale advanced manufacturing and technology businesses within the region.

Zhang Lishu, the former chairman of Yuhuan State-owned Assets Investment and Management Group, serves as the general manager of Zhongjie Resources. This personnel linkage suggests the group retains an ownership or governance stake in Zhongjie Resources, which operates as a portfolio company under the group's umbrella. The exact operating scope of Zhongjie Resources is not publicly detailed.

The group holds a portfolio of directly managed physical assets concentrated in Yuhuan and the broader Taizhou region. Known holdings include Yuhuan's affordable housing developments, the local urban infrastructure and road network, and the Garden Guesthouse (花园招待所), a commercial hospitality property. These assets reflect the group's mandate to finance and operate public-service real estate alongside its investment activities.