Among them, SDIC Group is a pilot enterprise of state-owned capital investment companies and belongs to state-owned enterprises. UBS Group AG is a Swiss multinational investment bank and financial services company.
Therefore, SDIC UBS Fund Management Co., Ltd. has a state-owned enterprise background, because one of its shareholders is SDIC Group. However, it is not completely controlled by state-owned enterprises, because UBS Group AG is also an important shareholder. Therefore, in a strict sense, SDIC UBS cannot be regarded as a state-owned enterprise.