SAIC MOTOR

A: The Company will, under market-orientated strategy, firmly grasp the general direction of the "new four modernizations" and core capabilities construction of its own brand. Driven by continuous and rapid implementation of major innovations and supported by digital transformation, the Company will achieve parallel development of manufacturing and services, create a new SAIC Motor with more influential brand, more competitive system and more flexible mechanism and ensure to seize the high ground for development of global automotive industry in the future, so as to accelerate the pace to a trillion-level world-class automotive group with global competitiveness and international brand influence.

The Company will achieve the "four transformations"：Brand structure will change from joint venture-based to both self-owned brands and joint ventures brands; Product technology will change from traditional automotive technology to electric intelligent connected upgrading; Market structure will change from domestic-based to both domestic and overseas marketplaces; Business scope will change from manufacturing to parallel development of manufacturing and services.

The Company will make decisive progress in the three critical battles: firstly, the Company will enhance its brands to make SAIC Motor's independent brands to be the leader of China's independent brands; secondly, the Company will accelerate the cultivation of differentiated competitiveness by global operations, laying a foundation for the Company to achieve full internationalization; and thirdly, the Company will provide precise services continuously meeting the service needs of users throughout their lifetime and becoming the main vehicle for the Company's transformation into a comprehensive service provider for mobility.

The Company will strengthen its "two supports". Firstly, the Company will advance digital transformation and digital capabilities construction of product services, management and business ecology orderly focused on key areas and projects, boosting the number of direct subscribers and digital revenue to a new level. The Company will effectively control cost but to provide superior user experience, and reach an industry-leading level of digital operation capability. Secondly, the Company will advance SOE reform and mixed reform to acquire a more diversified shareholding structure; continue to promote market-based financing and spin-off listings of innovative enterprises and nurture a number of "unicorns" in the industry; and vigorously break down barriers that restrict the development of enterprises, improving flexibility of institutional mechanism, optimization of resource allocation and agility of the response.

A: In 2021, the Company will adhere to work keynote to seek for improvement on a steady basis guided by President Xi Jinping's thought on socialism with China's characteristics for a new era based on new development stage, new development concept and new development pattern. The Company will "take advantage of the trend and adjust the structure" for economy to expand domestic and overseas markets and optimize economic operation quality, structure and efficiency without the slightest slacking in normal pandemic prevention and control; the Company will "respond to the trend and sustain its efforts" in innovation development, acting as the innovation-driven development engine to speed up the implementation of major strategic projects such as high-end brands, electric intelligence and digital transformation; in terms of deepening reform, the Company targets key areas such as mixed reform of state-owned enterprises, capital structure diversification of innovative enterprises and reform of the cadre and personnel system on market-oriented basis and accelerate changes in institutional mechanisms to make breakthroughs, continuously stimulating the vitality of enterprises and talent teams. The Company strives to achieve an annual sales of about 6.17 million vehicles, representing an increase of 10.2% on a year-on-year basis, and has expected a total operating income of RMB 830 billion and a total operating cost of RMB 720 billion, starting a new journey to build a world class automotive group.

A: Firstly, the Company should grasp the market rhythm and optimize the production and sales structure of vehicle business, deepen the building of new energy systemic capability, and advance channel reform and brand promotion focused on improving product and service power;

Secondly, the Company should continue to optimize its deployment of spare parts business, enhance the independent and controllable capability of key core technologies for emerging businesses, and vigorously promote cost reduction and efficiency increase and intelligent manufacturing;

Thirdly, the Company should reinforce user-oriented mobility services and refined operations focused on emerging electric intelligent connected vehicles, deploy more charging stations, strengthen the mobility service platform digitalization and intelligence, innovate and optimize business models and enhance sustainable profitability;

Fourthly, the Company should enhance finance enabling by virtue of financial instrument chains to promote Fintech level faster and provide better service to users;

Fifthly, the Company should continue to improve its international business deployment, deeply plowed the overseas bases and seize opportunities in international markets, achieving sustainable and rapid growth in overseas sales volume;

Sixthly, the Company should insist on market-orientated technological innovation, emphasize precision and efficiency, collaborate with internal and external resources, and accelerate the development of technology productization, product differentiation and enterprise marketization;

And seventhly, the Company should grasp normalized pandemic prevention and control, deeply improve basic management system and mechanism construction, and enhance management level and work efficiency.

A: In 2020, The Company plans to distribute cash dividends of RMB 6.20 (inclusive of tax) per 10 shares, amounting to RMB 7,176,685,655.90 （inclusive of tax) in total based on 11,575,299,445 shares, that is, the total shares of 11,683,461,365 net of the number of shares on the special securities account for repurchase (108,161,920 shares).The Company repurchased shares carrying an amount of RMB 2,039,279,074.80 (excluding transaction costs) by way of centralized competitive bidding, representing 9.98% of the net profit attributable to shareholders of the listed companies in the consolidated income statement for 2020. In accordance with relevant regulations, the above repurchase amount shall be treated as cash dividends and included in the calculation of the relevant proportion of cash dividends for the year. In 2020, the total cash dividends to be distributed and the cash paid for the share repurchase accounted for 45.11% of the net profit attributable to shareholders of the listed companies in the consolidated income statement for 2020.

The Company has no plan of capitalization of capital reserve this year. The cash dividend distribution for the recent three years accumulates to RMB 34,218,572,051.80 in total (including shares repurchased in the year of 2020, amounting to RMB 2.039 billion).(The above plan should be approved by the General Meeting of Shareholders.)