SAIC Group's share reform preparations for overseas listing began in April this year, Shanghai Automotive Industry Group, which was to be listed overseas as a whole, began its pre-IPO share reform. The day before yesterday, SAIC's A-share listed company SAIC Motor announced that SAIC Motors owns a 70% stake in SAIC Motor and will be injected with the SAIC Group's other related auto industries into the newly established SAIC Motor Corporation. It is reported that after the establishment of Shanghai Automotive Group Co., Ltd., it will hold shares in the holding companies, associates, joint ventures, and joint-stock companies held by the former SAIC Group in relation to the automotive industry. At present, Shanghai SASAC has approved this equity change. In April this year, senior executives of SAIC Motor revealed that SAIC Group may choose to go public overseas as a whole. After that, there was news that the overall listing of SAIC has been confirmed in Hong Kong, financing may reach 1 billion US dollars, and the time to market may be in the first half of next year. However, SAIC Group has not stated its position on the specific issues of listing. The establishment of Shanghai Automotive Group Corporation has been analyzed. This means that SAIC's overseas listed shares have improved into the final stage. Reporter Zhang Lidong
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