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Consumer Durables

SAIC Motor Corp. Ltd.

  • 24.50 CNY
  • +0.08
  • +0.33%
  • China
    Jun 19, 2019
  • Ticker
    SHG(600104)
  • Prev. close
    24.42
  • Market cap (CNY)
    285,310.12M
  • Market cap (USD)
    41,325.94M
  • Shares
    11,683.46M

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 2018 CNYUSD
Revenue894,730.73M135,216.74M
Gross Profit119,040.84M17,990.12M
Operating income17,671.06M2,670.55M
Income before tax28,422.98M4,295.44M
Net income36,009.21M5,441.91M
EBITDA29,015.00M4,384.91M
Diluted EPS3.080.46
Dividends Per Share1.260.19
Total Assets782,773.08M114,012.13M
Total liabilities484,025.73M70,499.11M
Total equity234,368.56M34,136.15M
Operating cash flow42,276.44M6,389.05M
Currency in CNYCurrency in USD

Historical Data

 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 626,243.95M 664,849.82M 748,893.34M 862,757.75M 894,730.73M
Gross Profit 75,053.02M 75,450.89M 95,140.42M 116,048.10M 119,040.84M
Operating income 15,020.30M 15,708.65M 18,416.23M 21,810.49M 17,671.06M
Income before tax 17,388.15M 19,178.39M 22,737.72M 25,957.46M 28,422.98M
Net income 27,973.44M 29,793.79M 32,005.70M 34,410.33M 36,009.21M
EBITDA 19,973.13M 21,673.96M 26,318.33M 30,894.99M 29,015.00M
Diluted EPS 2.53 2.70 2.90 2.95 3.08
Dividends Per Share 1.30 1.36 1.65 1.83 1.26
Total Assets 415,714.77M 511,630.69M 590,713.77M 723,676.33M 782,773.08M
Total liabilities 223,031.46M 290,038.12M 343,149.90M 438,403.09M 484,025.73M
Total equity 157,664.38M 175,128.73M 192,098.04M 225,335.30M 234,368.56M
Operating cash flow 46,401.68M 54,381.58M 39,899.80M 53,829.31M 42,276.44M
 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 101,634.91M 105,781.56M 112,724.72M 127,660.46M 135,216.74M
Gross Profit 12,180.56M 12,004.68M 14,320.70M 17,171.39M 17,990.12M
Operating income 2,437.68M 2,499.34M 2,772.04M 3,227.25M 2,670.55M
Income before tax 2,821.97M 3,051.39M 3,422.52M 3,840.87M 4,295.44M
Net income 4,539.88M 4,740.36M 4,817.55M 5,091.62M 5,441.91M
EBITDA 3,241.49M 3,448.45M 3,961.48M 4,571.46M 4,384.91M
Diluted EPS 0.41 0.42 0.43 0.43 0.46
Dividends Per Share 0.21 0.21 0.24 0.27 0.19
Total Assets 67,007.54M 78,789.99M 85,000.89M 111,129.65M 114,012.13M
Total liabilities 35,949.62M 44,665.22M 49,377.63M 67,322.34M 70,499.11M
Total equity 25,413.34M 26,969.43M 27,641.99M 34,603.08M 34,136.15M
Operating cash flow 7,530.66M 8,652.43M 6,005.78M 7,965.01M 6,389.05M

Valuation Measures

Dec 2018
PER8.65
ROA4.78%
ROE15.66%
Operating margin1.97%
Profit margin4.02%

Key executives

  • President, Director & Deputy Party Secretary: Zhi Xin Chen
  • Head-Commercial Vehicle Technology: Xin Ping Cao
  • Vice President: Lang Hui Zhou
  • Vice President: Jian Wei Yu
  • Vice President: De Mei Chen

Shareholders

  • Shanghai State-Owned Assets Supervision & Administration (71.2%)
  • China Securities Finance Corp. Ltd. (3.9%)
  • Nanjing State Owned Assets Supervision & Admin Commission (3.5%)
  • Zhonghai Trust Co., Ltd. (0.9%)
  • Zhongyuan Asset Management Co., Ltd. (0.8%)
  • China Investment Corp. (Investment Management) (0.8%)
  • China Huarong Asset Management Co., Ltd. (0.7%)
  • Hebei State-Owned Assets Supervision & Admin. Commission (0.7%)
  • Ping An Insurance (Group) Co. of China Ltd. (0.7%)
  • Guangdong State-Owned Assets Supervision & Administration (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

  • 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.
  • Shanghai Diesel Engine Co., Ltd.

Competitors

  • 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
  • KAMAZ PTC
  • Zotye Automobile Co., Ltd. Class A
  • Hengli Industrial Development Group Co. Ltd. Class A
Last Updated on 19 Jun, 2019

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