SAIC MOTOR(SH:600104) Shang Hai Zheng Quan Bao·2026-02-13 17:25Core Viewpoint - Shanghai Automotive Group Co., Ltd. (SAIC) is establishing a private equity investment fund named Shanghai Shangqi Shangcheng No. 2 Private Investment Fund Partnership (Limited Partnership) with several partners, aiming to enhance its investment in key areas of the automotive industry, particularly in new technologies and domestic alternatives [2][4][21]. Investment Details - The total initial subscription amount for the fund is RMB 2.5 billion, with SAIC's subsidiary, SAIC Jin控, contributing RMB 1 billion, representing 40% of the fund [2][4]. - Other contributors include Shanghai Guotou Xiandao, Hunan Jin Furong, Guofu Linghang, Zhejiang Zheshang Bawu, and others, with varying contributions totaling the fund's initial size [2][4]. Fund Structure and Management - The fund will be managed by Shangqi Capital, which specializes in investments within the automotive industry ecosystem, focusing on electric and intelligent vehicles [7][10]. - The fund's investment strategy includes a focus on solid-state batteries, digital chassis, chip localization, and advanced technologies such as artificial intelligence [4][21]. Duration and Financial Arrangements - The partnership is set for a duration of 20 years, with an initial operational period of 7 years, including a 4-year investment phase followed by an exit phase [18]. - Management fees are structured at 2% annually during the investment period and 1.8% during the exit period, with no fees during any extension or liquidation phases [13]. Impact on Company Operations - The investment is designed to support the company's core business and will not adversely affect its financial or operational status [21][22]. - The initiative aims to strengthen the company's position in the smart electric vehicle industry and enhance its technological capabilities [21].