SDIC Merchant

SDIC Merchant is an investment entity operating under the State Development and Investment Group Co., Ltd. (SDIC Group), a major state-owned investment holding company in China established in 1995. The parent company, SDIC Group, focuses on four main business sectors: energy, digital/science & technology, people's livelihood & health, and industrial finance. The group utilizes a "dual driving forces" model of direct investment and fund investment to cultivate strategic emerging industries. The name 'Merchant' likely indicates a partnership or joint venture with China Merchants Group, with one of the parent's subsidiaries being "SDIC China Merchants Investment Management Co.".