SAIC Group: controlling shareholder plans to increase capital of Global Car Enjoy by 1.07 billion yuan, subsidiary waives priority capital increase rights.

SAIC Group announced that, due to the need for focused transformation, its controlling shareholder SAIC Corporation intends to increase its investment in the affiliated company Globe Lending by 1.07 billion yuan. The company's wholly-owned subsidiary SAIC Investment Management Company will waive its priority right to increase capital and the amount waived is approximately 298 million yuan. After this transaction is completed, SAIC Investment Management Company's shareholding will decrease from 27.81% to 20.98%. The transaction has been approved by the Independent Directors Special Meeting and the Board of Directors, but still requires approval from all parties of Globe Lending.