Jinnai Wealth Management：Official announcement： SAIC sells some of the equity of India, and increases at least 5 billion yuan

(Text/Pan Yuchen/Zhang Guangkai) On April 7, SAIC Group disclosed that the group holding subsidiary MG Motor India PVT. LTD. (hereinafter referred to as MGI) intends to introduce JSW Ventures Singapore Pte through equity transfer and capital increase and expansion method.Investors such as .limited (hereinafter referred to as JSW Singapore).Jinnai Wealth Management

Specifically, JSW SINGAPORE subscribed for MGI 1.012 billion shares held by Mumbai Automobile Hong Kong Investment Co., Ltd. (hereinafter referred to as SAIC Hong Kong) with 26.51 billion yuan (approximately RMB 2.256 billion).RMB 788 million) subscribed 354 million shares issued by MGI, and the total shareholding ratio of 35%after the transaction was completed;Indore Investment

Indoedge India FUND (hereinafter referred to as IIF) subscribed 312 million shares issued by MGI with 8.18 billion rupees (about 696 million yuan), and the shareholding ratio of 8%after the transaction was completed;Simla Wealth Management

The dealer trust subscribes to 117 million shares issued by MGI with 3.07 billion rupees (about RMB 261 million). After the transaction is completed, the shareholding ratio is 3%(no voting rights);Hyderabad Wealth Management

The employee shares plan to subscribe for 195 million shares issued by MGI for 5.11 billion rupees (about RMB 435 million). After the transaction is completed, the shareholding ratio is 5%(no voting rights).

SAIC Group stated that MGI introduced Indian investors in order to further promote the company's international business strategy, seize the opportunity of the rapid development of the Indian market, continuously increase the share of the MG brand in the Indian market, effectively prevent business risks.Create more favorable conditions for sustainable and healthy development.

After the transaction is completed, SAIC Group's shareholding on MGI will be reduced to 49%, which is less than half, but it is still the company's largest shareholder, and reserves a higher percentage of voting rights (dealer trust and employee shareholding plan without votingFor shareholders with voting rights, the shareholding ratio of SAIC Group is still higher than the sum of JSW Singapore and IIF).

And after the completion of the shareholding and capital increase, based on the fair value of MGI equity, SAIC Group is expected to increase net profit of RMB 5 billion-7 billion.

JSW MGI joint venture company was established

Founded in February 2017, MGI was jointly invested by SAIC Group's wholly -owned subsidiary SAIC Hong Kong and Mumbai Automobile International Trade Co., Ltd. (hereinafter referred to as SAIC International). Among them, SAIC Hong Kong holds 99.99%and SAIC International holds 1 shares.The registered address is located in Dergang, India, with a registered capital of 32.75 billion rupees (about 2.84 billion yuan).

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