CICC and Porsche Forge Global Investment Partnership

The CICC Porsche Fund, a collaboration between CICC Private Equity Investment Management Co., Ltd. and Porsche, has successfully completed its initial closing and registration with the Asset Management Association of China. This partnership marks Porsche's first global venture with a leading Chinese financial institution's private fund management subsidiary. As an anchor investor, Porsche will actively contribute to the fund's growth, leveraging its technical expertise. The investment plan, approved by Porsche's Global Board of Directors in Germany, holds strategic significance, aiming to identify investment opportunities and provide post-investment support.

The CICC Porsche Fund stands out as the first CICC fund to partner with renowned international automotive companies, showcasing CICC group's expanding global presence. This collaboration highlights the synergy between CICC and overseas industrial groups, attracting global investments and fostering international engagement. Focusing on new energy and intelligent connected vehicles, the fund's team combines industry expertise with international perspectives to explore investment prospects in these sectors, aiming for mutually beneficial outcomes for portfolio companies, strategic partners, and investors, contributing to the growth of China's new energy and intelligent connected vehicle industry.

In a recent meeting in Beijing, Lutz Meschke, Deputy Chairman of the Executive Board and CFO of Porsche, engaged with Yicheng Xu, a member of the Management Committee of CICC, and other key representatives. Dr. Ing. h.c. F. Porsche AG, headquartered in Stuttgart-Zuffenhausen, Germany, is renowned as a leading luxury sports car manufacturer committed to sustainable mobility, embodying a corporate culture of passion, innovation, sportsmanship, and unity.

The collaboration between CICC and Porsche through the CICC Porsche Fund signifies a significant step in global investment partnerships, particularly in the automotive industry. This initiative not only showcases the growing international presence of CICC but also highlights Porsche's commitment to sustainable mobility and innovation. The joint efforts of these two entities are poised to drive advancements in new energy and intelligent connected vehicles, contributing to the development of China's automotive sector and fostering international cooperation.