SAIC Motor adjusts investment in Yuanjie Intelligent Technology Fund

SAIC Motor Corporation Limited announced a change in its participation in the Shanghai Yuanjie Intelligent Technology Equity Investment Fund Partnership, or Yuanjie Fund. The initial investment structure, established in 2020 with partners Shanghai Zhangjiang High-Tech Park Development Co. Ltd. and Shanghai Hengxu Chuangling Private Equity Fund Management Co. Ltd., involved SAIC Motor contributing 5.399 bn yuan, holding a 74.986% stake in the 7.2 bn yuan fund. The Yuanjie Fund had invested 7.2 bn yuan into Zhiji Auto Technology Co. Ltd.

The adjustment will see the Yuanjie Fund directly allocate its 5.399 bn yuan registered capital stake in Zhiji Auto to SAIC Motor through a physical distribution, effective January 31, 2025. This change means SAIC Motor will directly hold its previous indirect stake in Zhiji Auto, resulting in SAIC Motor's withdrawal from the Yuanjie Fund. Consequently, the Yuanjie Fund's total capital will decrease from 7.2 bn yuan to 1.801 bn yuan.

Additionally, Hengxu Capital's entire stake in the fund will be transferred to Shanghai Zhangjiang Haoke Technology Development Co. Ltd. The Yuanjie Fund will also terminate its management relationship with Hengxu Capital, with Shanghai Zhangjiang Haocheng Venture Capital Co. Ltd. proposed as the new manager. These changes are not expected to impact SAIC Motor's operations, financial position, or its direct shareholding percentage in Zhiji Auto.