Gasgoo Daily: SAIC Motor to directly hold IM Motors equity to simplify ownership structure

With Gasgoo Daily, we will offer daily important automotive news in China. For those we have reported, the title of the piece will include a hyperlink, which will provide detailed information.

SAIC Motor to directly hold IM Motors equity to simplify ownership structure

Who:

• SAIC Motor Corporation

• IM Motors

• Yuanjie Fund

What:

• SAIC Motor plans to simplify the equity structure of IM Motors by converting its indirect shareholding through Yuanjie Fund into direct ownership.

When:

• Announcement released on December 24

• Equity transfer benchmark date set for January 31, 2025

How (Transaction Structure):

• Yuanjie Fund will conduct a targeted in-kind distribution of its IM Motors registered capital to SAIC Motor.

• The distributed IM Motors equity is valued at RMB 5.399 billion.

• Following the distribution, SAIC Motor will directly hold the corresponding IM Motors equity.

• SAIC Motor will not pay any consideration, as the asset being distributed is the equity itself.

Background of Yuanjie Fund:

• Jointly established by:

• SAIC Motor

• Shanghai Zhangjiang Hi-Tech Park Development

• Hengxu Capital

• Total committed capital: RMB 7.2 billion

• SAIC Motor contribution:

• RMB 5.399 billion

• Representing 74.986% of the fund

Investment History:

• In December 2020, Yuanjie Fund signed an investment agreement with IM Motors.

• To date, Yuanjie Fund has:

• Invested RMB 7.2 billion in IM Motors

• Holds RMB 7.2 billion in registered capital of IM Motors

Post-transaction Changes:

• Yuanjie Fund's committed capital will be reduced to RMB 1.801 billion.

• Hengxu Capital will transfer its fund interest to Shanghai Zhangjiang Haoke Technology Development Co., Ltd., designated by Zhangjiang Hi-Tech.

• The entrusted management relationship with Hengxu Capital will be terminated.

• Shanghai Zhangjiang Haocheng Venture Capital Co., Ltd. is proposed as the new fund manager.

Impact Assessment:

• SAIC Motor's shareholding ratio in IM Motors remains unchanged.

• The restructuring will not affect SAIC Motor's normal operations.

• There will be no material impact on the company's financial position or operating results.

IAT Automobile Technology Launches "AI + Digital Intelligence Creation" Product System

Who:

• IAT Automobile Technology (IAT)

What:

• Launch of a new "AI + Digital Intelligence Creation" product system for automotive R&D.

When:

• Announced on December 23

Key Components:

• Automotive R&D knowledge large model "Yuanfang"

• Aerodynamics AI system

• Styling AI Taiyi 3.0

• "Fangcun" digital prototype product

Yuanfang Knowledge Large Model:

• Core capabilities include:

• Engineering drawing interpretation

• Solution generation

• Intelligent review

• Reduces design iteration cycles from weeks to hours.

• Supports instruction-based interaction for:

• Knowledge accumulation

• Efficiency improvement

"Fangcun" Digital Prototype Product:

• Integrates AI with digital mock-ups on a cloud-based architecture.

• Enables:

• Automatic detection of part clearance and interference

• Precise optimization suggestions

• Significantly:

• Shortens analysis time

• Reduces costs

• Improves engineering efficiency

Aerodynamics AI "Yufeng":

• Trained on large-scale engineering datasets.

• Enables:

• Real-time drag prediction at early design stages

• Reverse generation of compliant vehicle contours

• Reported to:

• Shorten aerodynamic development cycles by two months

• Significantly reduce development costs

Taiyi Styling AI 3.0:

• Upgraded from a single styling tool to a comprehensive automotive design AI platform.

• New capabilities include:

• 3D generation

• Video generation

• Model training

• Supports a multimodal, continuously evolving R&D workflow.

Collaboration & Expansion:

• Introduces an infinite collaborative canvas for real-time team co-creation.

• Platform capabilities extended beyond automobiles to:

• Aircraft

• Robots

• Other intelligent vehicles

• Demonstrated through:

• Concept design

• Generation of an intelligent pet robot video

ZEEKR Completes Privatization and Delists from NYSE

Who:

• Geely Automobile Holdings Limited

• ZEEKR

What:

• Completion of ZEEKR's privatization and merger.

• ZEEKR becomes a wholly owned subsidiary of Geely Automobile.

• ZEEKR has been delisted from the New York Stock Exchange.

When:

• Announced on the evening of December 22

How (Transaction Details):

• Geely acquired:

• All outstanding ZEEKR shares

• All American Depositary Shares
  through the privatization arrangement.

• ZEEKR continues to operate as the surviving entity after the merger.

• ZEEKR’s financial results will be:

• Fully consolidated into Geely's financial statements

• Equity previously classified as:

• Non-controlling interests
  will be reclassified and eliminated.

Strategic Context:

• The privatization is part of Geely's broader organizational and structural adjustment.

Related Milestones:

• December 2024:

• Following the "Taizhou Declaration," ZEEKR and Lynk & Co announced strategic integration under ZEEKR Technology Group.

• February 14 (this year):

• ZEEKR: 51%

• Geely Automobile: 49%

• ZEEKR completed the acquisition and capital increase of Lynk & Co.

• Ownership structure:

• Lynk & Co became a non-wholly owned subsidiary of ZEEKR.

• May 7:

• Geely announced plans to acquire all issued shares of ZEEKR Intelligent Technology.

• December 22:

• Privatization officially completed.

Geely's Statement:

• The company will use this integration as a new starting point to:

• Strengthen strategic synergies and scale effects

• Increase investment in intelligent and electrified technologies

• Create sustainable long-term value for shareholders

• Advance toward becoming a technology-driven global automotive group

Strategic Significance:

• Strengthens Geely's control over its core premium EV brand.

• Establishes a more unified and efficient global operational structure for competition in the new energy vehicle market.