Shanghai Guosheng Group

Shanghai Guosheng Group is a state-owned asset management platform classified by 暗涌Waves as "资产管理型" among local government investment vehicles . Its primary mandate is preserving and increasing the value of state-owned assets, with investment serving as one means to that end . The group tends to deploy its substantial capital as an LP rather than making direct investments, distinguishing it from more regionally focused development-type platforms . In November 2021, it co-led the RMB 2 billion Series A round of domestic GPU startup Moore Threads alongside 5Y Capital and Bohai Zhongsheng Fund, with participation from nine other institutions including CCB International and China Merchants Securities .