SAIC Motor Simplifies IM Motors' Equity Structure with Direct Ownership

[Equity Restructuring] SAIC Motor will convert its indirect stake in IM Motors—previously held through the Yuanjie Fund—into direct ownership.

⚡ Key Development: SAIC Streamlines IM Motors Ownership Structure

SAIC Motor announced on December 24, 2025, that it would reclaim, via an in-kind distribution, the RMB 53.99 billion registered capital of IM Motors previously held indirectly through the Yuanjie Fund, and hold it directly under the group. Following this change, SAIC’s ownership percentage in IM Motors remains unchanged, and it continues to be the actual controller, but no longer holds shares through the fund.

📊 Key Figures: Yuanjie Fund Significantly Downsized

The committed capital of the Yuanjie Fund has been reduced from RMB 7.2 billion to RMB 1.801 billion. The original fund manager, Hengxu Capital, has exited, with its stake assumed by a company designated by Zhangjiang Hi-Tech, and fund management transferred to Shanghai Zhangjiang Haocheng Venture Capital Co., Ltd.

🔍 Strategic Rationale: Focusing Core Resources to Enhance Efficiency

SAIC emphasized that this adjustment does not involve new investments or operational changes, and is intended solely to optimize governance structure. As SAIC’s “Project No. 1,” IM Motors has now achieved stable monthly sales exceeding 10,000 units, reflecting growing market recognition.