The development path of Sweden s Yinruida Group

The company's core investments generate more than $100 billion in global revenues and employ 400,000 people. Core investments account for the vast majority of Yinruida's total assets (85% as of December 31, 2006), so it is of great importance to Yinruida.

Currently, the core investment includes 10 international blue-chip companies: ABB, Astrazeneca, Atlas Copco, Electrolux, Ericsson, OMX, Saab, Scania, SEB and Husqvarna. Core investments generate more than $100 billion worldwide and employ 400,000 people.

Core investments account for the vast majority of the company's total assets (85% as of December 31, 2006), so it is important to the company. We take a long-term approach to such investments and exert significant influence on the operations of these companies by becoming the largest or second largest shareholder.

The products of Yinruida's core investment companies have strong competitiveness in the global market: from Electrolux vacuum cleaners to ABB transformers; Best-selling canker drugs from Scania trucks to AstraZeneca; From Ericsson mobile phones to Saab fighter jets, Sweden has been able to play a role on the world stage far beyond what its 9 million population should play. The network of companies built up over several generations of business activities has given us strong competitiveness in the industrial and financial sectors, and we are uniquely positioned to support the core companies in which we invest in the Group to meet the challenges of the future.

Yinruida actively participates in the company's operations, formulates business plans, designs the company's development vision, and provides our unique global corporate network to recruit and build experienced and strong boards and management teams for these companies.

Headquartered in Sweden, Yinruida is a publicly traded holding company with branches around the world, and its involvement in the Chinese market dates back more than a century. Currently the largest industrial holding company in the Nordic region, Yinruida is a long-term major shareholder of several leading multinational companies, including ABB, Atlas Copco, Astrazeneca, Ericsson, Electrolux and SEB.

With offices in Beijing, Hong Kong and Tokyo, the company invests in technology companies in the expansion stage in Asia and established mid-sized companies in Greater China.

The history of Silver Ruida can be traced back to the establishment of the first private bank in Stockholm, Sweden, in 1856. In 1916, Yinruida was founded, when the stake in Scandia Bank was transferred to the Industrial Holding Company to continue the tradition of investment and creation of the company by the Washi family.

Yinruida has been active in the global venture capital markets for a long time, and operates through its wholly-owned subsidiary, Yinruida Venture Capital**** (IGC), and some of its holding companies, EQT Group (EQT).

Yinruida's investment areas mainly include unlisted companies in the United States, Northern Europe and Asia, and now account for 10% to 15% of the group's total assets. As of 31 December 2006, the total net asset value of the company amounted to SEK 159 billion, of which 85% was listed and 15% was privately owned. The largest investments were in SEB, Ericsson and Atlas Copco, which accounted for 45% of the group's total assets.

Yinruida's private equity investment business mainly involves two main areas: small investments in emerging growth companies and debt financing in more mature companies. These two parts of the business are invested through a wholly-owned subsidiary, Yinruida Venture Capital**** (IGC), and a part of its holding subsidiary, EQT.

IGC Asia

IGC Asia is headquartered in Hong Kong with representative offices in Tokyo and Beijing. IGC Asia's investment strategy is to positively influence the investment company with a minority stake and a board seat.

IGC Asia's experts help portfolio companies grow and develop through IGC's offices in New York, Silicon Valley and Stockholm, as well as Yinruida's unique global network of core holding companies around the world. IGC Asia's investment focus is mainly on high-tech, Internet, media and other industries, with an average investment amount of US$8 million to US$15 million per company, and the investment period is generally 3 to 6 years.

EQT Partners Asia

EQT Partners Asia is a Hong Kong-based private equity investment business in the Greater China region with the goal of acquiring and holding mid-sized companies. EQT Partners Asia makes top-notch investments by leveraging the international resources and industry experience of Yinruida and EQT, combined with local knowledge and insight.

EQT Partners Asia's investment sectors are mainly branded consumer goods, services, retail, pharmaceuticals and manufacturing. The average equity value of the project investment is about $50 million, and the investment period is 3 to 5 years.

Yinruida's business is concentrated in four areas: core investment, private equity investment, operating investment and financial investment. Investments include mature and industry-leading companies, growing companies, wholly-owned subsidiaries and financial investments.

This portfolio cleverly diversifies risk and provides a solid foundation for generating healthy, long-term returns for shareholders.

Our business philosophy is to invest in companies with potential and value creation, and use our experience, knowledge and corporate network to shape them into top companies in the industry to deliver long-term returns.

Yinruida believes that a good board of directors and management team are essential to the success of a business. Our international network plays a strategic role in identifying investment opportunities, recruiting talent, providing information and experience to our portfolio companies, and conducting divestitures. We are committed to creating long-term value.

Many of Yinruida's holding companies have been included in Yinruida's long-term investment strategy from the beginning. However, this does not mean that we are slow to act, or that we remain the same.

With a history of 150 years since 1856 and the fifth generation of the Wallenberg family, the company continues its business philosophy, strengthens its core business, actively seizes investment opportunities, expands its investment areas, and optimizes its asset structure.

The name of a publicly traded holding company, Yinruida is currently the largest industrial holding company in the Nordic region and a long-term major shareholder of several leading multinational companies, including ABB, Atlas Copco, AstraZeneca, Ericsson, Electrolux and SEB.