SAIC Motor plans new branch, approves 2026 related party transactions

SAIC Motor Corporation Limited's board of directors, meeting on December 12, 2025, approved several key resolutions. The board greenlit the establishment of the SAIC Motor Corporation Limited Passenger Car Jinqiao Branch to accelerate new energy vehicle business development. The meeting also approved the 2024 performance appraisal and remuneration plan for senior management.

Significant approvals include the "SAIC Group 2025-2026 Wage Determination Mechanism Reform Implementation Plan" and projected amounts for daily related party transactions for the first half of 2026. These transactions, reviewed by independent directors, involve Shanghai Automotive Industry (Group) Corporation and its related entities, amounting to an estimated RMB 750,000 for product supply, RMB 130,000 for comprehensive services, and RMB 30,000 for property, land, and vehicle leasing. Financial services with SAIC Financial Co. are projected at RMB 350,000.

Additional related party transactions for the first half of 2026 include those with Shanghai Motor Vehicle Test and Certification Research Center Co. for comprehensive services (estimated RMB 50,000), Shanghai Jieneng Intelligent Electric New Energy Technology Co. for product supply (estimated RMB 3,000) and comprehensive services (estimated RMB 300), and Rupunzel Energy Co. for product supply (estimated RMB 200,000). The board also approved banking services with China Merchants Bank, with a daily deposit balance not exceeding RMB 120 bn and a maximum credit exposure not exceeding RMB 450 bn. The 2026 first-half related party transaction projections will be submitted for shareholder approval.