SAIC Motor shareholders approve subsidiary investment, related party transactions

SAIC Motor Corporation Limited (SSE:600104) held its first extraordinary general meeting of shareholders for 2025 on October 16, 2025. With 2,353 shareholders representing 78.1947% of total voting shares attending, all proposed resolutions passed.

Key approvals included an investment by subsidiary Power Tech in SAIC Hongyan's restructuring and an agreement for deposit and loan services with China Merchants Bank. The Power Tech investment was approved with 99.6666% of A shares voting in favor, while the China Merchants Bank proposal garnered 99.9398% of A shares in favor. Both resolutions involved related party transactions. Shanghai Automotive Industry (Group) Corporation and China COSCO Shipping Group Limited abstained from their respective votes.

The company's total share capital as of the record date was 11,495,277,504 shares, with 11,424,889,211 shares having voting rights. Zhonghao (Shanghai) Law Firm observed the meeting and confirmed that the procedures and resolutions complied with relevant laws and regulations.