The Relationship between Yifeng Capital and China Resources

Competitive relationship. Yifeng Capital and China Resources Capital are competitive, but their investment directions are different. China Resources Capital Management Co., Ltd. (hereinafter referred to as "China Resources Capital") is the business department responsible for private equity investment under China Resources Group. It is the only operation and management platform of the Group's industrial funds, a bridge for industry-finance cooperation and a promoter of innovation and development. As the management platform of the Group's industrial funds, China Resources Capital conducts fund operation business closely around the Group's industries and national macro policies, and is responsible for initiating and managing private equity funds in various fields at home and abroad, and coordinating fund raising, fund management and middle and back office management of the Group's industrial funds; Give full play to the advantages of flexible, fault-tolerant and effective incentives of industrial fund mechanism.