SAIC MOTOR(SH:600104) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-12-01 23:17Core Viewpoint - The company is establishing a partnership to create the Ningbo Yongyuan Junsheng Equity Investment Partnership (Limited Partnership) with several other investors, focusing on the smart electric vehicle industry and related technology sectors [2][3][21]. Investment Details - The total investment amount for the fund is RMB 1.09 billion, with the company’s subsidiary, SAIC Motor Group Financial Holdings Co., Ltd. (SAIC Financial), contributing RMB 270 million, representing a 24.8% share [2][3]. - Other partners include Zhejiang Yongyuan Financial, Ningbo Yongyuan Investment Fund, Yuyao Shunxin Investment, Guotai Junan Zhenyu Investment, Shanghai Hengyihao Management Consulting, and Hengxu Capital, with varying contributions [2][3]. Partnership Structure - The fund will be managed by Shanghai Hengxu Chuangling Private Fund Management Co., Ltd., which will provide management services to the partnership [8][21]. - An investment decision committee will be established to oversee investment and exit decisions [9]. Investment Focus - The fund aims to invest in the smart electric vehicle ecosystem and its upstream and downstream technology manufacturing sectors, aligning with the company's strategic focus on innovation and transformation [3][21]. Financial Impact - The investment will utilize the company's own funds and is not expected to impact its normal business operations or financial status significantly [21]. - The investment does not constitute a related party transaction or a major asset restructuring [4][21]. Fund Management and Profit Distribution - Management fees will be charged based on the contributions of each partner, with a rate of 2% during the investment period and 1.5% during the exit period [13]. - Profit distribution will follow a structured approach, prioritizing the return of capital to partners before distributing profits based on their contributions [14]. Duration and Legal Framework - The partnership will operate indefinitely unless otherwise determined by the general partner, with a fund operation period of eight years from the first closing [17]. - The agreement is governed by Chinese law, and disputes will be resolved through negotiation or litigation [19]. Conclusion - This investment initiative is part of the company's strategy to enhance its capabilities in the smart electric vehicle sector, leveraging professional investment expertise to strengthen its market position [21].