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Consumer Durables

SAIC Motor Corp. Ltd.

Company Background

SAIC Motor is a Chinese state-owned automaker based in Shanghai. Founded in 1955, SAIC is one of China's three biggest automakers, alongside FAW and Dongfeng Motor. SAIC has established joint ventures with major Western automakers, including Volkswagen of Germany and General Motors of the U.S. In addition to producing and selling foreign brand vehicles in China, SAIC has also focused on the development of its own-brand vehicles in recent years, and has a bus and truck manufacturer under its wing.

The company set up a joint venture with Volkswagen in 1984 to produce the Santana passenger car, as part of the Chinese government's reform and opening-up policy. That was the first joint venture with foreign capital for a Chinese automaker, and played a central role in the country's increased use of automobiles.

In 1997, SAIC signed a joint-venture contract with GM to produce and sell its Chevrolet, Buick and Cadillac brands. In 2002, SAIC established SAIC-GM-Wuling Automotive, a joint venture with GM, to increase SAIC's share of the market for small, cheap commercial vehicles.

SAIC released its own brand sedan, the Roewe, in 2006. Although the automaker is trying to strengthen its own-brand vehicles to break away from foreign capital, sales are still comparatively small. SAIC is also expanding overseas operations. It has established an automotive joint venture in Thailand with the Thai conglomerate Charoen Pokphand Group.

SAIC Chairman Chen Hong studied electrical engineering at Tongji University in Shanghai. Chen was sent on loan to Shanghai General Motors in 1997 to help with the establishment of the joint venture. He stayed with the company until 2003, but is said to still have strong connections with GM.

Business Summary

SAIC Motor Corp. Ltd. engages in the development, manufacture, sale of automobiles and related parts. It operates through the following business segments: Vehicles & Parts and Financing. The company's business activities include the sale of passenger and commercial vehicles, and components such as engine, transmission, power train, chassis, exterior trim and also offers automotive trade services such as auto financing business. It is currently establishing an intelligent logistics service platform to deliver extended services to clients. SAIC Motor was founded on November 24, 1997 and is headquartered in Shanghai, China.

Financial Highlights

Dec 2021 CNYUSD
Revenue774,305.25M120,059.26M
Gross Profit81,062.47M12,569.07M
Operating income8,509.54M1,319.44M
Income before tax24,191.61M3,751.01M
Net income24,533.09M3,803.95M
EBITDA26,194.33M4,061.54M
Diluted EPS2.120.32
Dividends Per Share0.680.10
Total Assets917,021.91M143,883.81M
Total liabilities575,464.41M90,292.29M
Total equity273,773.67M42,956.00M
Operating cash flow39,143.65M6,069.38M
Currency in CNYCurrency in USD

Historical Data

 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 862,757.75M 894,730.73M 836,714.47M 736,372.66M 774,305.25M
Gross Profit 116,048.10M 119,040.84M 103,888.70M 72,126.13M 81,062.47M
Operating income 21,810.49M 17,671.06M 11,122.83M 11,350.47M 8,509.54M
Income before tax 25,957.46M 28,422.98M 18,119.89M 22,295.54M 24,191.61M
Net income 34,410.33M 36,009.21M 25,603.38M 20,431.03M 24,533.09M
EBITDA 30,894.99M 29,015.00M 24,597.30M 25,812.08M 26,194.33M
Diluted EPS 2.95 3.08 2.19 1.75 2.12
Dividends Per Share 1.83 1.26 0.88 0.62 0.68
Total Assets 723,676.33M 782,647.54M 849,358.64M 928,027.69M 917,021.91M
Total liabilities 438,403.09M 483,254.88M 534,961.07M 605,263.35M 575,464.41M
Total equity 225,335.30M 234,297.31M 249,683.20M 259,922.84M 273,773.67M
Operating cash flow 53,829.31M 42,276.44M 75,265.33M 62,146.90M 39,143.65M
 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 127,660.46M 135,216.74M 121,090.02M 106,686.13M 120,059.26M
Gross Profit 17,171.39M 17,990.12M 15,034.86M 10,449.67M 12,569.07M
Operating income 3,227.25M 2,670.55M 1,609.70M 1,644.46M 1,319.44M
Income before tax 3,840.87M 4,295.44M 2,622.32M 3,230.19M 3,751.01M
Net income 5,091.62M 5,441.91M 3,705.34M 2,960.06M 3,803.95M
EBITDA 4,571.46M 4,384.91M 3,559.74M 3,739.67M 4,061.54M
Diluted EPS 0.43 0.46 0.31 0.25 0.32
Dividends Per Share 0.27 0.19 0.12 0.08 0.10
Total Assets 111,129.65M 113,993.85M 121,934.42M 141,904.59M 143,883.81M
Total liabilities 67,322.34M 70,386.83M 76,799.32M 92,550.74M 90,292.29M
Total equity 34,603.08M 34,125.77M 35,844.66M 39,744.76M 42,956.00M
Operating cash flow 7,965.01M 6,389.05M 10,892.46M 9,003.88M 6,069.38M

Valuation Measures

Dec 2021
PER9.73
ROA2.65%
ROE9.19%
Operating margin1.09%
Profit margin3.16%

Key executives

  • President & Executive Director: Xiaoqiu Wang
  • Chief Financial Officer & Board Secretary: Yong Wei
  • Vice President: De Mei Chen
  • Vice President: Qing Song Lan
  • Group Vice President: Lang Hui Zhou

Shareholders

  • Shanghai State-Owned Assets Supervision & Administration (62.6%)
  • China State-Owned Assets Supervision & Admn Commission (5.8%)
  • Nanjing State Owned Assets Supervision & Admin Commission (3.5%)
  • China Securities Finance Corp. Ltd. (2.9%)
  • SAIC Motor Corp. Ltd. (1.6%)
  • Zhonghai Trust Co., Ltd. (0.9%)
  • China Investment Corp. (Investment Management) (0.8%)
  • Hebei State-Owned Assets Supervision & Admin. Commission (0.7%)
  • China Life Asset Management Co., Ltd. (0.7%)
  • China Huarong Asset Management Co., Ltd. (0.6%)

Contact Details

  • Website:http://www.saicmotor.com
  • Address: No. 489, Weihai Road, Jingan District, Shanghai, 200041, China
  • Phone: +86.21.2201.1138

Related Companies

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  • PT SAIC International Indonesia
  • Shanghai Shanghong Real Estate Co., Ltd.
  • SAIC Group Financial Holding Management Co., Ltd.
  • SAIC Activity Centre Co., Ltd.
  • Shanghai Automotive News Press Co., Ltd.
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  • Wuhan Zhonghaiting Data Technology Co., Ltd.
  • Global Car Sharing & Rental Co., Ltd.
  • SAIC International Trade Co., Ltd.
  • SAIC Overseas Mobility Technology Co., Ltd.
  • SAIC Motor-CP Co., Ltd.
  • Saic Investment Management Co. Ltd.
  • SAIC GMF Financial Leasing Co., Ltd.
  • SAIC Europe SARL
  • STEC USA, Inc.
  • Saic Motor Corp. Ltd. /Nanjing Branch/
  • SAIC MAXUS Automotive Co., Ltd.
  • Nanjing MG Automobile Trading Co., Ltd.
  • Shanghai Dongzheng Automotive Finance Co., Ltd.
  • Shanghai Automobile Import & Export Co., Ltd.
  • MG Motor India Pvt Ltd.
  • Saic Core Esop
  • Saic Venture Capital Investment Co. Ltd.
  • Anji Automotive Logistics Co., Ltd.
  • SAIC Motor HK Investment Ltd.
  • SAIC- GMAC Automotive Finance Co., Ltd.
  • SAIC Capital
  • Shanghai Auto Group Equity Investment Co., Ltd.

Competitors

  • Great Wall Motor Co., Ltd. Class H
  • Dongfeng Automobile Co., Ltd. Class A
  • China Automotive Systems, Inc.
  • Beiqi Foton Motor Co., Ltd. Class A
  • China Grand Automotive Services Group Co., Ltd. Class A
  • Jiangnan Mould & Plastic Technology Co., Ltd. Class A
  • Hanma Technology Group Co., Ltd. Class A
  • KAMAZ PTC
  • Regal Rexnord Corporation
Last Updated on 5 Dec, 2022

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