What does down payment capital mean?
Paid-in capital or paid-in capital contribution of the fund. According to relevant public information, the first-phase funds in place refer to the paid-in capital or paid-in capital of the fund as of the application date. The proportion of the first-phase funds in place refers to the proportion of the first-phase funds in place to the registered capital/committed capital of the fund. The monetary contribution of all shareholders in the first phase shall not be less than 30% of the paid-in capital contribution in the first phase. For the registered capital to be paid in installments in the future, the proportion of monetary contribution in each installment must be reached. If the accumulated monetary contribution of shareholders reaches the registered capital, the proportion of monetary contribution is not limited in the future. If the registered capital of the original company is increased, the proportion of newly-increased registered capital shall be at least 30%.