Ehong Capital, founded by Tang Ronghan, is a pioneering force in China's impact investing space. Balancing social impact objectives with market-driven financial returns presents unique challenges in the country's evolving investment landscape. To pursue both goals, Ehong identified three key investment themes aligned with the United Nations' 17 Sustainable Development Goals. These themes informed the development of six guiding principles for selecting investment targets. Beyond providing capital, Ehong also offers empowerment services to help portfolio companies generate both financial and social value. To ensure accountability, the firm has built a robust system for measuring and managing impact throughout the investment cycle.

Despite these efforts, achieving the dual purpose of impact investing remains difficult—especially when it comes to exit decisions. In August 2022, this tension became especially clear in Ehong's investment in Xintong. With two potential investors on the table, Ehong faced a dilemma: Investor A offered a higher financial return but risked pulling Xintong away from its mission, while Investor B proposed a lower return with a stronger alignment to Xintong's values. For Tang Ronghan, the choice underscored the complexities of navigating the dual goals of financial return and social impact.