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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 2019 CNYUSD
Revenue836,714.47M121,090.02M
Gross Profit103,888.70M15,034.86M
Operating income11,456.45M1,657.98M
Income before tax18,119.89M2,622.32M
Net income25,603.38M3,705.34M
EBITDA24,766.58M3,584.24M
Diluted EPS2.190.31
Dividends Per Share0.880.12
Total Assets849,358.64M121,934.42M
Total liabilities534,235.56M76,695.17M
Total equity249,702.00M35,847.36M
Operating cash flow75,265.33M10,892.46M
Currency in CNYCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 663,904.02M 748,893.34M 862,757.75M 894,730.73M 836,714.47M
Gross Profit 74,505.10M 95,140.42M 116,048.10M 119,040.84M 103,888.70M
Operating income 16,619.83M 18,416.23M 21,810.49M 17,671.06M 11,456.45M
Income before tax 19,177.56M 22,737.72M 25,957.46M 28,422.98M 18,119.89M
Net income 29,793.79M 32,005.70M 34,410.33M 36,009.21M 25,603.38M
EBITDA 22,734.15M 26,318.33M 30,894.99M 29,015.00M 24,766.58M
Diluted EPS 2.70 2.90 2.95 3.08 2.19
Dividends Per Share 1.36 1.65 1.83 1.26 0.88
Total Assets 512,963.23M 590,713.77M 723,676.33M 782,647.54M 849,358.64M
Total liabilities 291,370.66M 343,149.90M 438,403.09M 483,254.88M 534,235.56M
Total equity 175,128.73M 192,098.04M 225,335.30M 234,297.31M 249,702.00M
Operating cash flow 54,381.58M 39,899.80M 53,829.31M 42,276.44M 75,265.33M
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 105,631.08M 112,724.72M 127,660.46M 135,216.74M 121,090.02M
Gross Profit 11,854.20M 14,320.70M 17,171.39M 17,990.12M 15,034.86M
Operating income 2,644.31M 2,772.04M 3,227.25M 2,670.55M 1,657.98M
Income before tax 3,051.26M 3,422.52M 3,840.87M 4,295.44M 2,622.32M
Net income 4,740.36M 4,817.55M 5,091.62M 5,441.91M 3,705.34M
EBITDA 3,617.13M 3,961.48M 4,571.46M 4,384.91M 3,584.24M
Diluted EPS 0.42 0.43 0.43 0.46 0.31
Dividends Per Share 0.21 0.24 0.27 0.19 0.12
Total Assets 78,995.19M 85,000.89M 111,129.65M 113,993.85M 121,934.42M
Total liabilities 44,870.43M 49,377.63M 67,322.34M 70,386.83M 76,695.17M
Total equity 26,969.43M 27,641.99M 34,603.08M 34,125.77M 35,847.36M
Operating cash flow 8,652.43M 6,005.78M 7,965.01M 6,389.05M 10,892.46M

Valuation Measures

Dec 2019
PER10.88
ROA3.13%
ROE10.57%
Operating margin1.36%
Profit margin3.05%

Key executives

  • President, GM, Director & Deputy Party Secretary: Zhi Xin Chen
  • Chief Financial Officer & Board Secretary: Yong Wei
  • Head-Commercial Vehicle Technology: Xin Ping Cao
  • Vice President: Lang Hui Zhou
  • Vice President: Jian Wei Yu

Shareholders

  • Shanghai State-Owned Assets Supervision & Administration (71.2%)
  • Nanjing State Owned Assets Supervision & Admin Commission (3.5%)
  • China Securities Finance Corp. Ltd. (2.9%)
  • Zhonghai Trust Co., Ltd. (0.9%)
  • China Investment Corp. (Investment Management) (0.8%)
  • Hebei State-Owned Assets Supervision & Admin. Commission (0.7%)
  • Guangdong State-Owned Assets Supervision & Administration (0.6%)
  • Comgest SA (0.6%)
  • China Huarong Asset Management Co., Ltd. (0.6%)
  • China Universal Asset Management Co., Ltd. (0.4%)

Contact Details

  • Website:http://www.saicmotor.com
  • Address: No. 489, Weihai Road, Jingan District, Shanghai, 200041, China
  • Phone: +86.21.2201.1888

Related Companies

  • Saic Investment Management Co. Ltd.
  • STEC USA, Inc.
  • Saic Motor Corp. Ltd. /Nanjing Branch/
  • SAIC MAXUS Automotive Co., Ltd.
  • Nanjing MG Automobile Trading Co., Ltd.
  • Saic Core Esop
  • Saic Venture Capital Investment Co. Ltd.
  • Anji Automotive Logistics Co. Ltd.
  • SAIC Motor HK Investment Ltd.
  • SAIC Capital
  • Shanghai Auto Group Equity Investment Co., Ltd.
  • Shanghai Automotive Industry Hong Kong Ltd.
  • Shanghai Automotive Gear Works Co. Ltd.
  • Shanghai Automotive Industry Corp. Group /Auto Part Bus/
  • Shanghai Automotive Industry Corp. Group /New Energy Auto/
  • Shanghai Automotive Industry Corp. Group /Trade Service Bus/
  • SAIC-Volkswagen Sales Co., Ltd.
  • Shanghai General Dongyue Power Assembly Co. Ltd.
  • Shanghai Yitong Parts & Component Co. Ltd.
  • Shanghai Yitong Valve Board Co. Ltd.
  • Saic Motor UK Holding Co. Ltd.
  • Saic Motor UK Technical Centre Ltd.
  • Sanden (Shanghai) Automotive Air-Conditioning Co. Ltd.
  • Donghua Automotive Industrial Co. Ltd.
  • Shanghai Automotive Co. Ltd. /Yizheng Branch/
  • Nanjing Motor Group Co. Ltd.
  • Shanghai Wanzhong Automotive Components Co. Ltd.
  • Nanjing Automobile (Group) Corp.
  • HUAYU Automotive Systems Company Limited
  • Shanghai Yizheng Automotive Co. Ltd.

Competitors

  • Guangzhou Automobile Group Co., Ltd. Class H
  • Great Wall Motor Co., Ltd. Class H
  • Dongfeng Automobile Co., Ltd. Class A
  • Beiqi Foton Motor Co., Ltd. Class A
  • China Automotive Systems, Inc.
  • Hualing Xingma Automobile (Group) Co., Ltd. Class A
  • PACCAR Inc
  • Shanghai Lianming Machinery Co Ltd Class A
  • Hengli Industrial Development Group Co. Ltd. Class A
  • KAMAZ PTC
  • Regal Beloit Corp
Last Updated on 10 Jul, 2020

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