SAIC Motor elects new leadership, approves key business initiatives

SAIC Motor [SSE:600104] has successfully convened its 2024 annual shareholder meeting, followed by its ninth board meeting, electing key leadership and approving significant strategic initiatives. The shareholder meeting saw the re-election of Wang Xiaoqiu as Chairman and the election of Jia Jianxu as President, alongside the approval of the 2024 financial reports, profit distribution plan, and the re-appointment of PricewaterhouseCoopers Zhong Tian as the company's auditor. Shareholders also approved resolutions regarding daily related-party transactions, guarantees for subsidiaries, offshore lending, and foreign exchange derivative trading. The new board elected Wang Xiaoqiu to continue as chairman and appointed members to the Strategy & ESG Sustainability Committee, and the Audit Committee. Subsequently, Jia Jianxu was officially appointed as President of SAIC Motor. These strategic moves signal SAIC Motor’s commitment to governance and future strategic direction.