SAIC Motor issued an announcement on asset impairment provision for joint ventures

SAIC Motor issued an announcement on the provision of asset impairment for joint ventures. In response to market challenges, SAIC-GM, a 50%-owned joint venture, and its holding subsidiaries Dongyue Motor, Norinco Motor, and Dongyue Powertrain plan to make an asset impairment provision of RMB 23.212 billion in the fourth quarter of 2024 after evaluating the impact of business restructuring actions taken to stabilize market share and focus on profitability.