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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 2020 CNYUSD
Revenue736,372.66M106,686.13M
Gross Profit84,641.66M12,262.93M
Operating income11,360.08M1,645.85M
Income before tax22,295.54M3,230.19M
Net income20,431.03M2,960.06M
EBITDA25,821.69M3,741.06M
Diluted EPS1.750.25
Dividends Per Share0.620.08
Total Assets919,445.72M140,592.33M
Total liabilities596,939.50M91,277.94M
Total equity260,102.95M39,772.31M
Operating cash flow62,146.90M9,003.88M
Currency in CNYCurrency in USD

Historical Data

 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 748,893.34M 862,757.75M 894,730.73M 836,714.47M 736,372.66M
Gross Profit 95,140.42M 116,048.10M 119,040.84M 103,888.70M 84,641.66M
Operating income 18,416.23M 21,810.49M 17,671.06M 11,122.83M 11,360.08M
Income before tax 22,737.72M 25,957.46M 28,422.98M 18,119.89M 22,295.54M
Net income 32,005.70M 34,410.33M 36,009.21M 25,603.38M 20,431.03M
EBITDA 26,318.33M 30,894.99M 29,015.00M 24,597.30M 25,821.69M
Diluted EPS 2.90 2.95 3.08 2.19 1.75
Dividends Per Share 1.65 1.83 1.26 0.88 0.62
Total Assets 590,713.77M 723,676.33M 782,647.54M 849,358.64M 919,445.72M
Total liabilities 343,149.90M 438,403.09M 483,254.88M 534,961.07M 596,939.50M
Total equity 192,098.04M 225,335.30M 234,297.31M 249,683.20M 260,102.95M
Operating cash flow 39,899.80M 53,829.31M 42,276.44M 75,265.33M 62,146.90M
 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 112,724.72M 127,660.46M 135,216.74M 121,090.02M 106,686.13M
Gross Profit 14,320.70M 17,171.39M 17,990.12M 15,034.86M 12,262.93M
Operating income 2,772.04M 3,227.25M 2,670.55M 1,609.70M 1,645.85M
Income before tax 3,422.52M 3,840.87M 4,295.44M 2,622.32M 3,230.19M
Net income 4,817.55M 5,091.62M 5,441.91M 3,705.34M 2,960.06M
EBITDA 3,961.48M 4,571.46M 4,384.91M 3,559.74M 3,741.06M
Diluted EPS 0.43 0.43 0.46 0.31 0.25
Dividends Per Share 0.24 0.27 0.19 0.12 0.08
Total Assets 85,000.89M 111,129.65M 113,993.85M 121,934.42M 140,592.33M
Total liabilities 49,377.63M 67,322.34M 70,386.83M 76,799.32M 91,277.94M
Total equity 27,641.99M 34,603.08M 34,125.77M 35,844.66M 39,772.31M
Operating cash flow 6,005.78M 7,965.01M 6,389.05M 10,892.46M 9,003.88M

Valuation Measures

Dec 2020
PER13.94
ROA2.31%
ROE8.01%
Operating margin1.54%
Profit margin2.77%

Key executives

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

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%)
  • SAIC Motor Corp. Ltd. (0.8%)
  • Hebei State-Owned Assets Supervision & Admin. Commission (0.7%)
  • China Life Asset Management Co., Ltd. (0.7%)
  • Guangdong State-Owned Assets Supervision & Administration (0.6%)
  • 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: +86.21.2201.1888

Related Companies

  • China United Automotive System Co., Ltd.
  • SAIC Motor (Beijing) Co., Ltd.
  • 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.
  • Shanghai E-propulsion Auto Technology Co., Ltd.
  • 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 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.
  • Shanghai Automotive Industry Hong Kong 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.
  • Hanma Technology Group Co., Ltd. Class A
  • PACCAR Inc
  • China Zenix Auto International Ltd. Sponsored ADR
  • KAMAZ PTC
  • Baoli New Energy Technology Co., Ltd. Class A
  • Regal Beloit Corp
Last Updated on 21 Apr, 2021

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