SAIC MOTOR(SH:600104) Shang Hai Zheng Quan Bao·2025-10-08 20:16Core Viewpoint - Shanghai Automotive Group Co., Ltd. is engaging in significant transactions involving its subsidiary, Power New Technology, to participate in the restructuring of SAIC Hongyan, which is in financial distress. The company aims to optimize its financial structure and enhance operational value through these transactions [32][72]. Group 1: Board Meeting Resolutions - The board of directors held its third meeting on September 29, 2025, with all eight directors present, and approved several resolutions [1][2]. - A resolution was passed for Power New Technology to jointly invest in the restructuring of SAIC Hongyan, which is classified as a related party transaction, with the related director abstaining from the vote [3][4]. - The resolution regarding the investment in SAIC Hongyan requires approval from the shareholders' meeting [4][8]. Group 2: Shareholder Meeting Notification - The first extraordinary shareholders' meeting of 2025 is scheduled for October 16, 2025, at 14:30, to discuss the approved resolutions [10][11]. - Voting will be conducted through a combination of on-site and online methods, with specific timeframes for each [12][15]. - Shareholders must register to attend the meeting, with details provided for both individual and corporate shareholders [21][22]. Group 3: Related Party Transactions - The company plans to conduct normal banking operations with China Merchants Bank, which is also a related party transaction, requiring shareholder approval [25][26]. - The independent directors have reviewed and approved the related party transactions, ensuring that they do not compromise the company's independence or harm minority shareholders' interests [26][31]. Group 4: Investment in SAIC Hongyan - The investment amount for the restructuring of SAIC Hongyan is approximately RMB 666.36 million, and the transaction is classified as a related party transaction due to the involvement of the controlling shareholder [32][39]. - The restructuring aims to maximize operational value and is expected to have a significant positive impact on the company's financial indicators, potentially increasing net profit by over 50% in the year following the restructuring [72][73]. - The restructuring process is still ongoing, with uncertainties regarding the final outcomes and potential risks associated with the approval of the restructuring plan by the court [73].