SJA(SH:600609) Zheng Quan Zhi Xing·2025-09-02 16:15Core Viewpoint - Company plans to invest 240 million RMB as a limited partner in the establishment of the Shenyang Automotive Industry Investment Fund, representing 30% of the total subscribed capital of 800 million RMB for the fund [2][5][19] Summary by Sections Investment Fund Overview - The fund will focus on the automotive industry chain, particularly in areas such as electrification, intelligence, and low carbon development [19] - The fund's management will be handled by Guangdong Yueke Mother Fund Investment Management Co., Ltd. [2][19] - The fund's total subscribed capital is 800 million RMB, with contributions from various partners including BMW China and Shenhwa Holdings [5][19] Related Transactions - The investment constitutes a related party transaction due to the common control by Shenyang Automotive Group [3][6] - The board of directors approved the investment without requiring a shareholder meeting, as it does not constitute a major asset restructuring [3][5] Financial Contributions - Company will contribute 240 million RMB, which is 17.21% of its latest audited net assets [5][19] - Other partners include BMW China with 220 million RMB and Shenhwa Holdings with 20.2 million RMB [5][21] Purpose and Impact - The investment aims to enhance the company's industrial strength and core competitiveness while securing investment returns [4][27] - The company expects to invest 60 million RMB annually from 2025 to 2028, which will not affect its normal operations or dividend distribution [27] Fund Structure and Management - The fund will have a lifespan of 7 years, with a 4-year investment period and a 3-year exit period [19] - The investment decision-making will involve a committee with representatives from the managing partners [23][24] Risk Management - The company acknowledges potential market, operational, and management risks associated with the fund's investment activities [3][28] - The investment is structured to allow for risk isolation and to leverage the advantages of professional institutions and partners [27]