Shanghai International Group - Investment and Asset Management

INDUSTRY FUNDS

Centering on the national and Shanghai's major strategies, SIG focuses on key areas such as ﬁnancial and technological innovation to constantly upgrade equity investment, accelerate the deployment of Fintech investment, and continue to improve the investment layout structure with the ﬁnancial sector as the mainstay and strategic emerging industries as the auxiliary.

Sailing Capital

Sailing Capital Management Co., Ltd.("Sailing Capital") is a strategic investment of SIG. It was incorporated in September 2011 upon the initiation of SIG and joint investment from other cornerstone investors including SAIC Group, Bright Group and Huabao Investment, with SIG as its largest shareholder.
Sailing Capital acts as the manager of Sailing Capital International Fund ("Sailing Fund"). Under the guidance of the People's Bank of China, Sailing Fund is an RMB-denominated international invest- ment and lending fund initiated by SIG with joint investment from central and local SOEs, and other cornerstone investors. The Fund aims to provide an operating vehicle and professional investment / ﬁnancing services for domestic enterprises to conduct overseas investments and M&As, thus supporting the national strategy of creating domestic-over- seas synergy and promoting RMB Internationaliza- tion. Currently, the Fund's aggregate AUM at home and abroad stands at over RMB 25 billion. It mainly invests in four sectors: Key & Core technology, adcanced manufacturing, healthcare, and new consumption . Furthermore, as it leverages domestic-overseas synergy, it has introduced high-quality overseas resources to the Chinese domestic market. By the end of June 2022, it has invested in over 60 domestic and overseas companies such as Mobileye, Sense- Time, Lyft, Coursera, GIMI, Pins, MGI, etc.
Shanghai Sci-Tech Capital

Shanghai Sci-Tech Innovation Center Capital Co., Ltd. ("Shanghai Sci-Tech Capital") is a strategic investment of SIG. In June 2017, it was incorporated and established upon the initiation of SIG andjoint investment from other cornerstone investors including Guosheng Group, Shanghai Trust, SIPG, Guotai Junan, and Zhangjiang Hi-Tech Park with SIG as its largest shareholder.
Shanghai Sci-Tech Capital is the manager of the Shang- hai Sci-Tech Innovation Centre Equity Investment Fund. Initiated by SIG together with other ﬁnancial capital and industrial capital providers, the Fund is a market-oriented FOF with the mission to support the development of the Shanghai Center of Innovation in Science and Technology. The Fund focuses on renowned fund managers which are leading players in equity investment in strategic emerging industries. It has established strategic partnerships with the National Fund for Technology Transfer and Commercialization and the Chinese Academy of Sciences Holdings Co., Ltd., makingjoint eﬀort to support sci-tech innovation and industry development. Currently, the total AUM of Shanghai Sci-Tech Capital is more than RMB 12 billion. By the end of June 2022, it had invested in more than 65 sub-funds, which involve a contract value of over RMB 170 billion and more than 1700
portfolio companies, mainly covering industries including TMT, AI, bio-medicine, integrated circuit, advanced manufacturing, new materials, 5G, industrial internet and ﬁntech. 61 companies in the investment portfolio have been listed, including 37 on the Science and Technology Innovation Board.
GP Capital Co.,Ltd.

GP Capital Co., Ltd.("GP Capital") is a strategic investment of SIG. It was incorporated in July 2009 upon the initiation of SIG and joint invest- ment from Shagang Group, Huatai Securities, Hengdian Group, and other cornerstone investors. SIG Asset Management Co., Ltd., a wholly-owned subsidiary of SIG, is the largest shareholder of GP Capital.
Currently GP Capital is managing Shanghai Finan- cial Sector Investment Fund ("Shanghai Financial Fund"). Organized by Shanghai Municipal People's Government, Shanghai Financial Fund has the approval of the State Council and National Development and Reform Commission to be the only pilot industrial fund focusing on the ﬁnancial sector. It was initiated by SIG in collaboration with other cornerstone investors. The Fund takes an active part in the restructuring, transforma- tion and M&As of China's ﬁnancial industry among others. It also provides funding and diversiﬁed value-added services to its portfolio companies. The fund raised in the ﬁrst phase was invested in 31 companies, including Guotai Junan Securities, Industrial Bank, China Union- Pay, and Ant Financial Services Group, of which 13 have been listed through IPO or M&A . The second phase of the Fund has launched many sub-funds for speciﬁc industries covering ﬁntech, mobile internet, medical services, healthcare, new materials, innovative consumption, smart manufacturing, culture, and semiconductor, etc., as well as themed funds such as GP Sushang Fund and M&A Fund. Currently GP Capital has over RMB 58 billion worth of funds under its management.
Guohe Capital

Shanghai Guohe Capital Corporation Limited ("Guohe Capital") is the strategic investment of SIG. It was established in December 2009 and with a registered capital of RMB 125 million. It is one of the ﬁrst PE fund management companies in China to obtain the qualiﬁcation of the PE fund manager.
Guohe Modern Service Industry Series Fund (Phase I, Phase II, Phase III) mainly serves the development of Shanghai's "ﬁve centers" and the transformation of industrial structure, focusing on the theme of consumption upgrading, industrial upgrading, and scientiﬁc and technological innovation, and the investment direction includes enterprise services, ﬁnancial technology, supply chain upgrading, new consumption, new energy,new materials, medical and health care, etc. The fund has a stable investment style and excellent investment performance, and the high-quality projects invested by the Phase I and Phase II of the fund include Guotai Junan Securities, Industrial Bank, BGI, SEMCORP, Deppon Logistics, Archermind,Weimob, QiAnXin, Asiainfo, Qianxun Si, XingXing Charge, AInnovation, Uniontech, Atrenew etc. Guohe Modern Service Industries Phase III Fund, carrying on the prudent investment approach of Phase I and Phase II, has closed the ﬁrst round of fund-raising. It has also completed an investment in projects such as 51world, Kamela, Trinova and Winicssec.
Guohe Capital implements the strategy of multi-fund at its headquarters and diversiﬁed layout for its subsidiaries. Together with its six subsidiaries, it is committed to the development of professional theme funds in the direction of industrial park transformation and upgrading, urban renewal, advanced manufacturing, new energy, new retail, big data, cloud computing and other investment directions, and strives to become a large-scale comprehensive asset management platform focusing on the ﬁeld of modern service industry. As of the end of 2021, the AUM of Guohe Capital has exceeded RMB 30 billion.
Growth FOF

Founded in June 2017, Shanghai Growth FOF Co., Ltd. ("Growth FOF") is a technology asset equity investment platform in the Yangtze River Delta, upon the initiation of Shanghai International Group and joint investment by Shagang Group, Shanghai Airport, and other cornerstone investors.
Focusing on the three key frontier ﬁelds of biomedi- cine, artiﬁcial intelligence and IoT (Internet of Things), Growth FOF aims to build an ecosystem that integrates all kinds of government, industrial parks, ﬁnancial and industrial resources, to assist the growth of innovative enterprises, and continu- ously improve the industrial chain ecology.
The Yangtze River Delta Collaborative Advantage Industry Fund managed by Growth FOF represents the ﬁrst industry fund in China which focuses on the national strategy for the Yangtze River Delta and clusters the state-owned capital of Jiangsu Province, Zhejiang Province, Anhui Province and Shanghai, aiming to establish an industrial ecological pattern to help the development of science and technology industry clusters in the Yangtze River Delta. It has become an important demonstration benchmark for Shanghai to take the lead in responding to the national strategy of "integrated development of the Yangtze River Delta".
Currently, Growth FOF has an AUM exceeding RMB 18 billion and has participated in the investment of well-known technology enterprises such as MGI, SJSEMI, and SenseTime. By the end of May 2022, Growth FOF had directly invested in 42 enterprises and 52 sub-funds, covering more than 900 underly- ing investment projects and leveraging nearly RMB 100 billion of social capital.

EQUITY INVESTMENTS

Centering on the national and Shanghai's major strategies, SIG focuses on key areas such as ﬁnancial and technological innovation to constantly upgrade equity investment, accelerate the deployment of Fintech investment, and continue to improve the investment layout structure with the ﬁnancial sector as the mainstay and strategic emerging industries as the auxiliary.

Huahong Group

Shanghai Huahong (Group) Co., Ltd. ("Huahong Group") is a chip manufacturer with advanced mainstream chip manufacturing technology in China. With businesses including integrated circuit R&D and manufacturing, electronic component distribution, intelligent system application, etc. and mass production processes covering nodes ranging from 1 micron to 28 nm, it is committed to the development of an independent controllable integrated circuit industry. In 2018, SIG funded the acquisition of a stake of 23.54% of Huahong Group held by China Electronics Corporation. In 2020, the Shanghai State-owned Assets Supervision and Administration Commission transferred a stake of 10% of Huahong Group to SIG free of charge. Now, SIG holds a stake of 18.36% of Huahong Group and is the second-largest shareholder of Huahong.
Under the guidance of the Shanghai State-owned Assets Supervision and Administration Commis- sion, SIG supports Huahong Group to explore and innovate, develop steadily, overcome diﬃculties, better cultivate strategic emerging industries and develop into an independent and controllable chip manufacturing leader.
AVIC Investment

AVIC Investment Holdings Co . , Ltd . ("AVIC Investment") is an important ﬁnancial business platform under Aviation Industry Corporation of China, Ltd. (AVIC). In 2018, AVIC Investment introduced strategic investors through a capital increase to perform mixed-ownership reform, with a total capital increase of RMB 9.5 billion. SIG has invested a total of RMB 1.5 billion with a combined stake of 4 . 17% of AVIC Investment. SIG's investment in AVIC Investment is a positive measure to implement the spirit of the national mixed-ownership reform policy of central enterprises and major national strategic tasks, and support the development of China's aviation industry and the development of Shanghai Science and Technology Center.
COFCO Capital

COFCO Capital Investment Co ., Ltd . ("COFCO Capital") is a specialized ﬁnancial business platform under COFCO Group Co., Ltd. In 2017, COFCO Capital was publicly listed in the form of "capital increase + transfer of old shares", introduced strategic investors, and carried out mixed-ownership reform. SIG Asset Management invested RMB 800 million. In 2019, COFCO Capital went public through reverse merger. Now, SIG Asset Management holds a stake of 3.49% of COFCO Capital. The investment in COFCO Capital by SIG Asset Management is a positive measure to deepen the reform of state- owned assets and state-owned enterprises in Shanghai and promote the development of the Shanghai International Finance Center.
SenseTime

SenseTime Group Co., Ltd.("SenseTime") is an artiﬁcial intelligence leader in China, with profound technical accumulation. Its business covers such ﬁelds as smart city, smart business, smart life and smart car, etc. In 2021, SIG and its subsidiaries participated in Round D ﬁnancing and IPO ﬁnancing of SenseTime and invested a total of RMB 1.3 billion, becoming one of the major shareholders of SenseTime. On December 30, 2021, SenseTime successfully listed on the Stock Exchange of was Hong Kong Limited ("HKEX"), becoming the ﬁrst leading AI compa- ny in China which went public.
AI is a key industrial ﬁeld with a major focus and playing a leading role proposed in Shanghai's 14th Five-year Plan and the city's outline of the long-term goals for 2035. It is also a key industrial sector for the develop- ment of Shanghai Science and Technology Center. SenseTime is an artiﬁcial intelligence enterprise headquartered in Shanghai. SIG's investment in SenseTime is conducive to supporting SenseTime's investment and business development in talent, R&D, AI computing algorithm platform in Shanghai, boosting the city to become a national artiﬁcial intelligence development highland, and facilitating the develop- ment of Shanghai Science and Technology Center.

FIN-TECH

Centering on the national and Shanghai's major strategies, SIG focuses on key areas such as ﬁnancial and technological innovation to constantly upgrade equity investment, accelerate the deployment of Fintech investment, and continue to improve the investment layout structure with the ﬁnancial sector as the mainstay and strategic emerging industries as the auxiliary.

Shanghai Fintech Industry Alliance

Shanghai Fintech Industry Alliance ("the Alliance") is the ﬁrst municipal alliance for Shanghai's ﬁntech industry upon the initiation of Shanghai International Group on May 17, 2020, under the guidance by eight administration departments including the Shanghai Headquarters of the People's Bank of China and Shanghai Financial Regulatory Bureau. Its members include 61 institutions and entities including various ﬁnancial factor markets, ﬁnancial institutions, science and technology enterprises, universities and scientiﬁc institutes in Shanghai. The Alliance has formed a development pattern in which the ﬁnancial factor markets in Shanghai are fully concentrated, licensed ﬁnancial institutions such as banks, securi- ties, and insurance companies are fully covered, and the "production, education, research, investment and application" of ﬁnancial technology are fully connected.
The Alliance actively promotes industry integration in the ﬁeld of ﬁntech, and makes eﬀort to build "Shanghai International Fintech Innovation Center". It aims to develop a ﬁntech cluster and window to the outside world, constantly attract all kinds of ﬁnancial technology enterprises to settle in, and create an area for industrial application demonstration and innovation practice. It actively aligns with and serves the PBOC Shanghai Headquarters' ﬁntech innovation supervision application and the CSRC Shanghai Regulatory Bureau's capital market ﬁntech innovation pilot, namely Shanghai version of the "supervision sandbox", to provide a safe and convenient test environment for ﬁntech innovation and application, and cooperates with relevant departments to advance the commissioning of pilot projects. The Alliance promotes cooperation with institutions directly under the central government such as the China Academy of Information and Communications Technology and the National Computer Network Emergency Response Technical Team/Coordination Center of China, focusing on areas such as ﬁnancial information innovation, data operation, privacy protection, and network security. The Alliance made preparations for establishing a professional committee for industry application and emerging technologies, to promote the docking of ﬁntech's industry side and application side, and boost the transformation of ﬁntech achieve- ments. It also creates industry publicity and exchange window, publishes the Shanghai Fintech Develop- ment White Paper, the Alliance's bi- monthly magazine Fintech Time, and builds the Alliance's permanent exhibition hall. The Alliance has actively carried out exchanges and cooperation with London, Singapore and other cities, holding international summit forums to further improve its inﬂuence and reputation.
Guoxin Venture Capital

Since SIG was identiﬁed by the Shanghai State-owned Assets Supervision and Administra-tion Commission as a pilot enterprise to carry out the market-oriented operation of state-owned venture capital enterprises in June 2020, Shang hai Guoxin Venture Capital Co., Ltd . ("Guoxin Venture Capital"), a SIG subsidiary, was actively developed into a professional direct investment platform of ﬁntech, thereby accelerating the investment in major ﬁntech projects and improv-ing its eﬃciency of serving the ﬁntech industry. Focusing on direct investment, Guoxin Venture Capital explores the joint investment pattern and introduces social capital into the ﬁntech service enterprises, technical service ﬁntech enterprises and underlying technical ﬁntech enterprises with good development prospects, strong core competitiveness and great triggering eﬀect, to increase the suppor t for innovative SMEs in strategic emerging industries in Shanghai. As of the end of June 2022, Guoxin Venture Capital has invested in Kingstar, P-cloud and other projects, with a direct investment amount of more than RMB 1. 275 billion, which strongly suppor t s the development of Shanghai S cience and Technology Innovation Center and Shanghai Fintech Center.
Shanghai Financial Technology Co., Ltd.

Shanghai Financial Technology Ltd. was jointly incorporated and established by the Digital Currency Institute of the People's Bank of China, Shanghai International Group and Changning District People's Government. SIG is its second-largest shareholder holding a stake of 20%.
Shanghai Financial Technology Ltd. represents an important link in the national layout made by the Digital Currency Institute of PBOC, which is of positive signiﬁcance to improve Shanghai's ﬁntech level . Positioned as a smart city and digital governance enabling center, taking advantage of Shanghai's digitalization transfor- mation, the Headquarters Economy, and the city's position as a central hub, the company comprehensively develops such business formats as supply chain ﬁnance and cross-border trade, and explores breakthrough innovative businesses including cross-border e-commerce, intelligent business, etc.
Shanghai Fintech Equity Investment Fund

Shanghai Fintech Equity Investment Fund,important measure to boost the development Shanghai Fintech Center, was strategically initiated by Shanghai International Group managed by Shanghai International Group's Capital, focusing on the deep integration ﬁnance, science and technology and industry conducts investment business in the three ﬁelds of new infrastructure of digital economy,transformation and upgrading of traditional ﬁnancial institutions enabled by science and technology, and digital development of real industry, and has been fully engaged in the ﬁelds of artiﬁcial intelligence, big data, cloud computing, block chain, IoT, and private computing, so as to create an eﬃcient, coordi- nated and well-connected ﬁntech ecosystem.