The Silver Fund announced a settlement plan just before the Spring Festival, allowing investors to celebrate the holiday with peace of mind. The consensus is that the settlement terms exceeded expectations, a view also supported by independent analysis. The plan has now been finalized.
Today, listed company SDIC Capital disclosed further details: it expects the settlement plan of its controlled subsidiary, SDIC UBS Fund's Silver Fund, to have a financial impact of less than 5% of its 2024 net profit.
While the specific amount was not disclosed, using the theoretical maximum of 5% provides a useful reference given the Silver Fund's substantial size. According to SDIC Capital's 2024 annual report, its net profit was 2.694 billion yuan, making 5% equal to 134.7 million yuan.
From an ownership perspective, SDIC Capital holds a 61% stake in SDIC Taikang Trust, which in turn holds a 51% controlling stake in SDIC UBS Fund.
Thus, the theoretical maximum impact is calculated as 2.694 billion multiplied by 0.05, divided by 0.51, and then divided by 0.61, resulting in a potential maximum amount of 433 million yuan.
According to SDIC Capital’s 2024 annual report, SDIC UBS Fund recorded consolidated operating revenue of 1.379 billion yuan for the year.
This suggests that, in theory, the settlement amount for the Silver Fund could exceed 30% of SDIC UBS Fund’s 2024 revenue.
It is important to note that this calculation is based on the theoretical maximum amount; the actual figure may be lower. However, given the significant size of the SDIC Silver LOF at the time, the final settlement amount is unlikely to be small—potentially reaching hundreds of millions or even more.
This estimated figure also indirectly confirms that the settlement plan for the SDIC Silver LOF did indeed exceed expectations.
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