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	CNY	USD
Revenue	774,305.25M	120,059.26M
Gross Profit	81,062.47M	12,569.07M
Operating income	8,509.54M	1,319.44M
Income before tax	24,191.61M	3,751.01M
Net income	24,533.09M	3,803.95M
EBITDA	26,194.33M	4,061.54M
Diluted EPS	2.12	0.32
Dividends Per Share	0.68	0.10
Total Assets	917,021.91M	143,883.81M
Total liabilities	575,464.41M	90,292.29M
Total equity	273,773.67M	42,956.00M
Operating cash flow	39,143.65M	6,069.38M
	Currency in CNY	Currency in USD

Historical Data

CNY | USD

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 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 2017	Dec 2018	Dec 2019	Dec 2020	Dec 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
PER	9.73
ROA	2.65%
ROE	9.19%
Operating margin	1.09%
Profit margin	3.16%

Key executives

President & Executive Director: Xiaoqiu Wang
Chief Financial Officer, Secretary & VP: 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

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Competitors

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Dongfeng Automobile Co., Ltd. Class A
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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
Beijing Changjiu Logistics Corp Class A
Ningbo Yong Xin Optics Co., Ltd. Class A

Last Updated on 24 Mar, 2023