On the afternoon of May 26, 2020, Yu Beihua, Secretary of the CPC SIG Committee and Chairman of the Board of Directors, received a delegation led by Zhang Yan, Secretary of the CPC Committee and Chairman of Shanghai Tunnel Engineering Co., Ltd. (STEC); and Song Xiaodong, Vice President of STEC. Zhang first introduced STEC's history, business scope and business model, especially the model and method of investment-driven primary business development, with emphasis on STEC's financial business, including financial leasing, factoring, financial company and PE investment. Yu introduced SIG's history and previous cooperation with STEC, its current strategic orientation, business fields, as well as the progress of its ongoing application for the pilot regulation of financial holding companies.

The two sides discussed future cooperation, reaching consensus on strengthening communication and cooperation in fields such as urban renewal, industry-finance integration, fintech and new finance service.

Relevant staff of the Department of Investment Development of STEC, as well as STEC's subsidiaries-Shanghai Urban Construction Investment Development Co., Ltd. and Jianyuan Capital accompanied Zhang and Song for the visit. Relevant staff of he Department of Strategic Development, the Department of Investment Management II and the Department of Administration of SIG, as well as SIG Asset Management Co., Ltd. were present.