SAIC Motor Corporation

SAIC Motor's net profit rose 31.9% yoy to CNY 7,273 mil in 2Q2020

By Helgi Analytics - September 28, 2020

SAIC Motor Corporation made a net profit of CNY 7,273 mil with revenues of CNY 177,794 mil in 2Q2020, up by 31.9% and up ...

SAIC Motor's Total Cash From Operations rose 30.8% yoy to CNY 37,371 mil in 2Q2020

By Helgi Analytics - September 28, 2020

SAIC Motor Corporation's operating cash flow stood at CNY 37,371 mil in 2Q2020, up 30.8% when compared to the previous year. ...

SAIC Motor's Cash & Cash Equivalents remain unchanged yoy at CNY mil in 2Q2020

By Helgi Analytics - October 12, 2020

SAIC Motor Corporation's total assets reached CNY 833,296 mil at the end of 2Q2020, up 6.8% compared to the previous year. ...

Profit Statement 2017 2018 2019
Sales CNY mil 870,639 902,194 843,324
Gross Profit CNY mil 125,428 128,316 112,737
EBITDA CNY mil 31,407 30,750 27,155
EBIT CNY mil 23,426 20,715 15,439
Financing Cost CNY mil 1,394 1,863 2,026
Pre-Tax Profit CNY mil 54,261 54,344 40,958
Net Profit CNY mil 34,410 36,009 25,603
Dividends CNY mil 21,381 14,721 10,281
Balance Sheet 2017 2018 2019
Total Assets CNY mil 723,533 782,770 849,333
Non-Current Assets CNY mil 333,585 329,394 338,176
Current Assets CNY mil 389,949 453,376 511,158
Working Capital CNY mil -6,768 -5,233 -23,700
Shareholders' Equity CNY mil 272,106 284,720 300,840
Liabilities CNY mil 451,427 498,050 548,494
Total Debt CNY mil 168,897 217,563 250,187
Net Debt CNY mil 57,958 12,642 41,756
Ratios 2017 2018 2019
ROE % 13.6 12.9 8.74
ROCE % 11.9 11.1 8.02
Gross Margin % 14.4 14.2 13.4
EBITDA Margin % 3.61 3.41 3.22
EBIT Margin % 2.69 2.30 1.83
Net Margin % 3.95 3.99 3.04
Net Debt/EBITDA 1.85 0.411 1.54
Net Debt/Equity % 21.3 4.44 13.9
Cost of Financing % 0.972 0.964 0.866
Valuation 2017 2018 2019
Market Capitalisation USD mil 57,531 45,300 40,016
Enterprise Value (EV) USD mil 66,432 47,145 46,013
Number Of Shares mil 11,629 11,684 11,684
Share Price CNY 27.5 24.1 22.7
EV/EBITDA 14.2 10.2 11.7
EV/Sales 0.514 0.349 0.378
Price/Earnings (P/E) 9.28 7.82 10.4
Price/Book Value (P/BV) 1.17 0.989 0.881
Dividend Yield % 6.01 7.59 5.55

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overview Unit 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
income statement                                                    
Sales CNY mil                                       562,368 626,244 664,850 756,414 870,639    
Gross Profit CNY mil                                       70,656 76,098 76,624 104,015 125,428    
EBIT CNY mil                                       14,464 12,333 13,678 17,660 23,426    
Net Profit CNY mil                                       24,804 27,973 29,794 32,006 34,410    
                                                       
ROE % ...                                     16.2 16.1 15.1 14.3 13.6    
EBIT Margin %                                       2.57 1.97 2.06 2.33 2.69    
Net Margin %                                       4.41 4.47 4.48 4.23 3.95    
Employees ... ...                                   144,955 151,820 163,817 171,395 180,749    
balance sheet                                                    
Total Assets CNY mil                                       373,641 414,871 512,956 590,710 723,533    
Non-Current Assets CNY mil                                       141,456 177,828 241,700 259,675 333,585    
Current Assets CNY mil                                       232,184 237,043 271,256 331,035 389,949    
                                                       
Shareholders' Equity CNY mil                                       161,732 184,999 210,917 235,273 272,106    
Liabilities CNY mil                                       211,909 229,872 302,039 355,437 451,427    
Non-Current Liabilities CNY mil                                       25,569 29,940 43,046 58,050 60,455    
Current Liabilities CNY mil                                       186,340 199,932 258,993 297,386 390,972    
                                                       
Net Debt/EBITDA ... ...   ...                               -1.26 -1.29 1.63 0.912 1.85    
Net Debt/Equity %                                       -14.4 -11.5 14.8 9.40 21.3    
Cost of Financing % ...     ... ... ...                           1.11 0.971 0.943 0.696 0.972    
cash flow                                                    
Total Cash From Operations CNY mil ... ...   ... ...                             42,168 45,913 53,526 39,560 51,968    
Total Cash From Investing CNY mil ... ... ... ... ...                             1,789 -28,557 -42,126 -2,104 -40,440    
Total Cash From Financing CNY mil ... ... ... ... ...                             -16,327 -19,551 -21,501 -5,802 1,371    
Net Change In Cash CNY mil ... ... ... ... ...                             27,480 -2,206 -9,964 31,960 12,842    
valuation                                                    
Market Capitalisation USD mil ... ... ...                                 25,759 38,135 36,064 37,257 57,531    
Enterprise Value (EV) USD mil ... ... ...                                 21,923 34,694 40,879 40,439 66,432    
Number Of Shares mil                                       11,026 11,026 11,026 11,026 11,629    
Share Price CNY ... ... ...                                 9.49 15.5 16.1 19.1 27.5    
Price/Earnings (P/E) ... ... ...                                 4.22 6.09 5.97 6.56 9.28    
Price/Cash Earnings (P/CE) ... ... ... ...                               3.64 5.30 5.04 5.44 7.53    
EV/EBITDA ... ... ... ...                               7.31 12.9 13.5 11.2 14.2    
Price/Book Value (P/BV) ... ... ...                                 0.647 0.921 0.843 0.893 1.17    
Dividend Yield % ... ... ...                                 6.32 7.76 8.06 7.14 6.01    
income statement Unit 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
income statement                                                    
Sales CNY mil                                       562,368 626,244 664,850 756,414 870,639    
Cost of Goods & Services CNY mil                                       491,712 550,146 588,225 652,399 745,212    
Gross Profit CNY mil                                       70,656 76,098 76,624 104,015 125,428    
Selling, General & Admin CNY mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...         45,986 51,474 50,264 64,998 77,915    
Research & Development CNY mil ... ... ... ...     ... ... ... ... ... ... ... ... ...         5,890 6,832 8,371 9,409 11,062    
Other Operating Expense CNY mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...         2,723 3,392 3,766 10,309 10,689    
Staff Cost CNY mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...       6,131 6,350 7,491 10,006 8,492    
Other Operating Cost (Income) CNY mil ... ... ... ...               ... ... ... ...         0 0 0 0 2,025    
EBITDA CNY mil ... ...   ...                               18,437 16,508 19,196 24,263 31,407    
Depreciation CNY mil ... ...   ...                               3,973 4,176 5,518 6,603 7,981    
EBIT CNY mil                                       14,464 12,333 13,678 17,660 23,426    
Net Financing Cost CNY mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...         -266 -291 -373 -381 13.7    
Financing Cost CNY mil       ... ... ...                           656 641 764 740 1,394    
Financing Income CNY mil ... ... ... ... ... ... ... ... ...                     922 932 1,138 1,121 1,380    
FX (Gain) Loss CNY mil ... ... ... ... ... ...                           -27.9 90.9 81.4 -78.7 -11.3    
(Income) / Loss from Affiliates CNY mil ... ... ...     ... ...     ... ...                 -22,270 -25,301 -26,631 -27,752 -28,304    
Extraordinary Cost CNY mil       ... ... ...                           -27,686 -30,998 -32,896 -33,569 -32,229    
Pre-Tax Profit CNY mil                                       41,493 42,689 45,810 50,490 54,261    
Tax CNY mil                                       5,909 4,438 5,736 6,531 7,145    
Minorities CNY mil                                       10,780 10,277 10,280 11,953 12,706    
Net Profit CNY mil                                       24,804 27,973 29,794 32,006 34,410    
Net Profit Avail. to Common CNY mil                                       24,804 27,973 29,794 32,006 34,410    
Dividends CNY mil                                       13,231 14,333 14,995 19,278 21,381    
growth rates                                                    
Total Revenue Growth % ...                                     18.9 11.4 6.16 13.8 15.1    
Operating Cost Growth % ...                                     17.0 13.5 -1.28 37.2 20.5    
Staff Cost Growth % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...     12.8 3.57 18.0 33.6 -15.1    
EBITDA Growth % ... ... ... ... ...                             -36.9 -10.5 16.3 26.4 29.4    
EBIT Growth % ...                                     -39.2 -14.7 10.9 29.1 32.6    
Pre-Tax Profit Growth % ...                                     3.33 2.88 7.31 10.2 7.47    
Net Profit Growth % ...                                     19.5 12.8 6.51 7.42 7.51    
ratios                                                    
ROE % ...                                     16.2 16.1 15.1 14.3 13.6    
ROA % ...                                     7.18 7.10 6.42 5.80 5.24    
ROCE % ...                                     16.2 15.4 13.3 12.8 11.9    
Gross Margin %                                       12.6 12.2 11.5 13.8 14.4    
EBITDA Margin % ... ...   ...                               3.28 2.64 2.89 3.21 3.61    
EBIT Margin %                                       2.57 1.97 2.06 2.33 2.69    
Net Margin %                                       4.41 4.47 4.48 4.23 3.95    
Payout Ratio %                                       53.3 51.2 50.3 60.2 62.1    
Cost of Financing % ...     ... ... ...                           1.11 0.971 0.943 0.696 0.972    
Net Debt/EBITDA ... ...   ...                               -1.26 -1.29 1.63 0.912 1.85    
balance sheet Unit 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
balance sheet                                                    
Cash & Cash Equivalents CNY mil                                       87,883 88,785 63,329 95,963 110,939    
Receivables CNY mil                                       48,483 51,840 65,606 60,700 64,310    
Inventories CNY mil                                       30,915 38,766 37,243 37,040 50,042    
Other ST Assets CNY mil                                       64,904 57,652 105,078 137,333 164,658    
Current Assets CNY mil                                       232,184 237,043 271,256 331,035 389,949    
Property, Plant & Equipment CNY mil                                       42,758 48,058 57,830 69,838 85,064    
LT Investments & Receivables CNY mil                                       25,789 48,067 102,856 99,272 146,075    
Intangible Assets CNY mil ... ... ...                                 1,124 923 1,546 1,959 2,110    
Goodwill CNY mil ... ... ... ... ... ... ... ... ... ... ... ...               85.0 82.3 463 669 724    
Non-Current Assets CNY mil                                       141,456 177,828 241,700 259,675 333,585    
Total Assets CNY mil                                       373,641 414,871 512,956 590,710 723,533    
                                                       
Trade Payables CNY mil                                       61,076 66,027 99,035 104,740 121,119    
Short-Term Debt CNY mil                                       58,395 62,681 84,980 99,634 154,931    
Other ST Liabilities CNY mil                                       28,621 27,585 18,325 22,740 27,381    
Current Liabilities CNY mil                                       186,340 199,932 258,993 297,386 390,972    
Long-Term Debt CNY mil                                       6,264 4,750 9,607 18,446 13,966    
Other LT Liabilities CNY mil                                       19,305 25,191 33,439 39,604 46,489    
Non-Current Liabilities CNY mil                                       25,569 29,940 43,046 58,050 60,455    
Liabilities CNY mil                                       211,909 229,872 302,039 355,437 451,427    
Preferred Equity and Hybrid Capital CNY mil                                       0 0 0 0 0    
Share Capital CNY mil                                       46,931 48,039 48,978 51,095 65,556    
Treasury Stock CNY mil                                       0 0 0 0 0    
Equity Before Minority Interest CNY mil                                       137,757 157,664 175,129 192,098 225,335    
Minority Interest CNY mil                                       23,975 27,335 35,789 43,175 46,771    
Equity CNY mil                                       161,732 184,999 210,917 235,273 272,106    
growth rates                                                    
Total Asset Growth % ...                                     17.8 11.0 23.6 15.2 22.5    
Shareholders' Equity Growth % ...                                     11.5 14.4 14.0 11.5 15.7    
Net Debt Growth % ...                                     32.0 -8.05 -246 -29.2 162    
Total Debt Growth % ...                                     20.2 4.29 40.3 24.8 43.0    
ratios                                                    
Total Debt CNY mil                                       64,659 67,431 94,587 118,080 168,897    
Net Debt CNY mil                                       -23,224 -21,354 31,258 22,118 57,958    
Working Capital CNY mil                                       18,322 24,579 3,815 -7,000 -6,768    
Capital Employed CNY mil                                       159,778 202,407 245,515 252,675 326,816    
Net Debt/Equity %                                       -14.4 -11.5 14.8 9.40 21.3    
Current Ratio                                       1.25 1.19 1.05 1.11 0.997    
Quick Ratio                                       0.732 0.703 0.498 0.527 0.448    
cash flow Unit 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
cash flow                                                    
Net Profit CNY mil                                       24,804 27,973 29,794 32,006 34,410    
Depreciation CNY mil ... ...   ...                               3,973 4,176 5,518 6,603 7,981    
Non-Cash Items CNY mil ... ...   ... ...                             7,820 8,433 11,579 9,591 12,180    
Change in Working Capital CNY mil ... ...   ... ...                             4,687 4,751 6,331 -9,392 -3,073    
Total Cash From Operations CNY mil ... ...   ... ...                             42,168 45,913 53,526 39,560 51,968    
                                                       
Capital Expenditures CNY mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...         -15,244 -14,080 -14,856 -15,957 -24,659    
Net Change in LT Investment CNY mil ... ... ... ... ...   ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...
Net Cash From Acquisitions CNY mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...         -650 -19.4 -2,194 -493 -512    
Other Investing Activities CNY mil ... ... ... ... ...                             17,684 -14,457 -25,076 14,346 -15,269    
Total Cash From Investing CNY mil ... ... ... ... ...                             1,789 -28,557 -42,126 -2,104 -40,440    
                                                       
Dividends Paid CNY mil ... ... ... ... ...     ... ... ... ...           ...     -7,649 -13,159 -14,022 -15,188 -18,854    
Issuance Of Shares CNY mil ... ... ... ... ...                             11.2 3.20 0 0 14,860    
Issuance Of Debt CNY mil ... ... ... ... ...                             -2,432 881 448 14,093 13,144    
Other Financing Activities CNY mil ... ... ... ... ...                             -6,258 -7,276 -7,927 -4,707 -7,779    
Total Cash From Financing CNY mil ... ... ... ... ...                             -16,327 -19,551 -21,501 -5,802 1,371    
                                                       
Effect of FX Rates CNY mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...         -151 -11.9 137 306 -56.5    
Net Change In Cash CNY mil ... ... ... ... ...                             27,480 -2,206 -9,964 31,960 12,842    
ratios                                                    
Days Sales Outstanding days                                       31.5 30.2 36.0 29.3 27.0    
Days Sales Of Inventory days                                       22.9 25.7 23.1 20.7 24.5    
Days Payable Outstanding days                                       45.3 43.8 61.5 58.6 59.3    
Cash Conversion Cycle days                                       9.08 12.1 -2.32 -8.59 -7.85    
Cash Earnings CNY mil ... ...   ...                               28,777 32,149 35,312 38,609 42,392    
Free Cash Flow CNY mil ... ... ... ... ...                             43,958 17,356 11,400 37,456 11,528    
Capital Expenditures (As % of Sales) % ... ... ... ... ...                             2.71 2.25 2.23 2.11 2.83    
other ratios Unit 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
                                                     
Employees ... ...                                   144,955 151,820 163,817 171,395 180,749    
Cost Per Employee USD per month ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...       573 569 600 724 582    
Cost Per Employee (Local Currency) CNY per month ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...       3,525 3,485 3,811 4,865 3,915    
Women (As % of Workforce) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Operating Cost (As % of Sales) %                                       9.99 10.2 9.47 11.4 11.9    
Research & Development (As % of Sales) % ... ... ... ...     ... ... ... ... ... ... ... ... ...         1.05 1.09 1.26 1.24 1.27    
Staff Cost (As % of Sales) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...       1.09 1.01 1.13 1.32 0.975    
Effective Tax Rate %                                       14.2 10.4 12.5 12.9 13.2    
Total Revenue Growth (5-year average) % ... ... ... ... ...                             40.0 35.3 13.2 12.3 13.0    
Total Revenue Growth (10-year average) % ... ... ... ... ... ... ... ... ... ...                   55.3 55.7 59.2 44.2 23.7    
valuation Unit 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
                                                     
Market Capitalisation USD mil ... ... ...                                 25,759 38,135 36,064 37,257 57,531    
Enterprise Value (EV) USD mil ... ... ...                                 21,923 34,694 40,879 40,439 66,432    
Number Of Shares mil                                       11,026 11,026 11,026 11,026 11,629    
Share Price CNY ... ... ...                                 9.49 15.5 16.1 19.1 27.5    
EV/EBITDA ... ... ... ...                               7.31 12.9 13.5 11.2 14.2    
Price/Earnings (P/E) ... ... ...                                 4.22 6.09 5.97 6.56 9.28    
Price/Cash Earnings (P/CE) ... ... ... ...                               3.64 5.30 5.04 5.44 7.53    
P/FCF ... ... ... ... ...                             2.38 9.82 15.6 5.61 27.7    
Price/Book Value (P/BV) ... ... ...                                 0.647 0.921 0.843 0.893 1.17    
Dividend Yield % ... ... ...                                 6.32 7.76 8.06 7.14 6.01    
Free Cash Flow Yield % ... ... ... ... ...                             27.8 7.42 4.98 15.0 2.98    
Earnings Per Share (EPS) CNY                                       2.25 2.54 2.70 2.90 2.96    
Cash Earnings Per Share CNY ... ...   ...                               2.61 2.92 3.20 3.50 3.65    
Free Cash Flow Per Share CNY ... ... ... ... ...                             3.99 1.57 1.03 3.40 0.991    
Book Value Per Share CNY                                       14.7 16.8 19.1 21.3 23.4    
Dividend Per Share CNY                                       0.600 1.20 1.30 1.36 1.65    
EV/Sales ... ... ...                                 0.240 0.340 0.390 0.359 0.514    
EV/EBIT ... ... ...                                 9.32 17.2 19.0 15.4 19.1    
EV/Free Cash Flow ... ... ... ... ...                             3.07 12.3 22.8 7.26 38.8    
EV/Capital Employed ... ... ...                                 0.831 1.06 1.08 1.11 1.32    
Earnings Per Share Growth % ...                                     19.6 12.8 6.50 7.44 1.93    
Cash Earnings Per Share Growth % ... ... ... ... ...                             9.83 11.7 9.84 9.34 4.10    
Book Value Per Share Growth % ...                                     11.5 14.4 14.0 11.5 9.65    
sales of vehicles Unit 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
                                                     
Sales From Automotive CNY mil ... ... ... ... ... ... ... ... ... ... ... ... ... ...           432,606 475,945 505,753 574,875 656,823    
Price Per Vehicle Sold CNY ... ... ... ... ... ... ... ... ... ... ... ...               84,728 84,685 85,693 88,594 94,778    
EBIT Per Vehicle Sold CNY ... ... ... ... ... ... ... ... ... ... ... ...               2,833 2,194 2,318 2,722 3,380    
Net Profit Per Vehicle Sold CNY ... ... ... ... ... ... ... ... ... ... ... ...               4,858 4,977 5,048 4,932 4,965    
Price Per Vehicle Sold (USD) USD ... ... ... ... ... ... ... ... ... ... ... ...               13,783 13,815 13,498 13,182 14,081    
EBIT Per Vehicle Sold (USD) USD ... ... ... ... ... ... ... ... ... ... ... ...               461 358 365 405 502    
Net Profit Per Vehicle Sold (USD) USD ... ... ... ... ... ... ... ... ... ... ... ...               790 812 795 734 738    
Market Value per Vehicle Sold (USD) USD ... ... ... ... ... ... ... ... ... ... ... ...               5,045 6,785 6,111 5,742 8,302    
Production of Vehicles vehicles ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...     5,148,020 5,610,560 5,836,160 6,456,800 6,987,360    
Sales of Vehicles vehicles ... ... ... ... ... ... ... ... ... ... ... ...               5,105,840 5,620,200 5,901,890 6,488,870 6,930,120    
Sales of Vehicles Abroad vehicles ... ... ... ... ... ... ... ... ... ... ... ...               ... ... ... ... ... ... ...
Sales of Vehicles Abroad (As % of Total) % ... ... ... ... ... ... ... ... ... ... ... ...               ... ... ... ... ... ... ...
Sales of Basic Passenger Vehicles vehicles ... ... ... ... ... ... ... ... ... ... ... ...               3,001,860 3,138,720 2,978,970 3,302,670 3,386,040    
Sales of Sports Utility Vehicles (SUV) vehicles ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 472,775 825,837 1,179,350 1,768,440    
Sales of Multi-Purpose Vehicles (MPV) vehicles ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 991,642 1,132,120 1,184,420 1,033,300    
Sales of Cross Passenger Cars vehicles ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 653,770 615,798 450,008 336,478    
Sales of Passenger Cars vehicles ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 64,626 61,773 66,206 60,151    
Sales of Trucks vehicles ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 298,661 287,387 306,213 345,716    
vehicles by brand Unit 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
                                                     
Sales of SAIC Volkswagen vehicles ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...   1,525,010 1,724,970 1,812,080 2,001,820 2,063,080    
Sales of SAIC GM vehicles ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...   1,575,170 1,760,110 1,752,020 1,887,150 2,000,190    
Sales of SAIC Passenger Vehicle vehicles ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...   230,020 180,026 170,017 321,708 522,036    
Sales of SGMW vehicles ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...   1,600,550 1,805,800 2,040,010 2,130,210 2,150,020    
Sales of SAIC Maxus vehicles ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...   11,300 21,013 35,053 46,123 71,117    
Sales of Shanghai Sunwin vehicles ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...   3,783 3,866 2,103 2,007 1,213    
Sales of Nanjing Iveco vehicles ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...   132,000 99,010 77,000 75,770 70,307    
Sales of SAIC Motor-CP vehicles ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...   0 280 4,908 8,706 12,151    
Sales of SAIC GM Wuling Indonesia vehicles ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...   0 0 0 0 0    
Sales of MG Motor India vehicles ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...   0 0 0 0 0    
Sales of Electrified Models vehicles ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 2,903 12,137 25,155 64,456    
sales geography Unit 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
                                                     
Market Share in Local Market % ... ... ... ... ... ... ... ... ... ... ... ... ... ...     ... ... ... ... ... ... ... ... ... ...
Sales of Vehicles in Germany vehicles ... ... ... ... ... ... ... ... ... ... ... ...               ... ... ... ... ... ... ...
Sales of Vehicles in China vehicles ... ... ... ... ... ... ... ... ... ... ... ...               ... ... ... ... ... ... ...

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SAIC Motor's Sales rose 0.961% yoy to CNY 177,794 mil in 2Q2020

By Helgi Analytics - September 28, 2020

SAIC Motor Corporation generated sales of CNY 177,794 mil in 2Q2020, up 0.961% compared to the previous year. Historically, between 1Q1994 and 2Q2020, the company’s sales reached a high of CNY 262,590 mil in 4Q2017 and a low of CNY 209 mil in 1Q1994. ...

SAIC Motor's net profit fell 28.9% yoy to CNY 25,603 mil in 2019

By Helgi Analytics - September 28, 2020

SAIC Motor Corporation made a net profit of CNY 25,603 mil with revenues of CNY 843,324 mil in 2019, down by 28.9% and down by 6.53%, respectively, compared to the previous year. This translates into a net margin of 3.04%. Historically, between 1994 ...

SAIC Motor's employees fell 0.529% yoy to 216,360 in 2019

By Helgi Analytics - September 28, 2020

SAIC Motor Corporation employed 216,360 employees in 2019, down 0.529% compared to the previous year. Historically, between 1996 and 2019, the firm's workforce hit a high of 217,511 employees in 2018 and a low of 3,154 employees in 2006. Average pers...

SAIC Motor's price/earnings (P/E) rose 32.3% yoy to 10.4 in 2019

By Helgi Analytics - September 28, 2020

SAIC Motor Corporation stock traded at CNY 22.7 per share at the end 2019 translating into a market capitalization of USD 40,016 mil. Since the end of 2014, stock has appreciated by 46.7% representing an annual average growth of 7.97%. In absolute terms...

SAIC Motor's Cash & Cash Equivalents rose 1.71% yoy to CNY 208,431 mil in 2019

By Helgi Analytics - September 28, 2020

SAIC Motor Corporation's total assets reached CNY 849,333 mil at the end of 2019, up 8.5% compared to the previous year. Current assets amounted to CNY 511,158 mil, or 60.2% of total assets while cash stood at CNY 208,431 mil at the end of ...

SAIC Motor's Total Cash From Operations rose 80.4% yoy to CNY 73,206 mil in 2019

By Helgi Analytics - September 28, 2020

SAIC Motor Corporation's operating cash flow stood at CNY 73,206 mil in 2019, up 80.4% when compared to the previous year. Historically, between 1996 - 2019, the firm’s operating cash flow reached a high of CNY 73,206 mil in 2019 and a low of CNY 387 m...

SAIC Motor's Share Price fell 5.93% yoy to CNY 22.7 in 2019

By Helgi Analytics - September 28, 2020

SAIC Motor Corporation stock traded at CNY 22.7 per share at the end 2019 implying a market capitalization of USD 40,016 mil. Since the end of 2014, stock has appreciated by 46.7% implying an annual average growth of 7.97% In absolute terms, the value of the com...

SAIC Motor's ROCE fell 27.5% yoy to 8.02% in 2019

By Helgi Analytics - September 28, 2020

SAIC Motor Corporation made a net profit of CNY 25,603 mil in 2019, down 28.9% compared to the previous year. Historically, between 1994 and 2019, the company's net profit reached a high of CNY 36,009 mil in 2018 and a low of CNY 239 mil in 1994. The resu...

SAIC Motor's Capital Expenditures rose 17.3% yoy to CNY 25,079 mil in 2019

By Helgi Analytics - September 28, 2020

SAIC Motor Corporation invested a total of CNY 25,079 mil in 2019, down 17.3% compared to the previous year. Historically, between 2009 - 2019, the company's investments stood at a high of CNY 30,319 mil in 2018 and a low of CNY 3,657 mil in...

SAIC Motor's P/FCF rose 226% yoy to 53.6 in 2019

By Helgi Analytics - September 28, 2020

SAIC Motor Corporation stock traded at CNY 22.7 per share at the end 2019 translating into a market capitalization of USD 40,016 mil. Since the end of 2014, the stock has appreciated by 46.7% representing an annual average growth of 7.97%. At the end of ...

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The Shanghai Automotive Industry Corporation is a Chinese state-owned automotive manufacturing company headquartered in Shanghai, China with multinational operations. One of the "Big Four" Chinese automakers, the company had the largest production volume of any Chinese automaker in 2012 producing more than 4.5 million units, 76% of which were passenger vehicles. SAIC traces its origins to the early years of the Chinese automobile industry in the 1940s, and SAIC was one of the few carmakers in Mao's China. Currently, it participates in the oldest surviving Sino-foreign car making joint venture, with Volkswagen, and in addition has had a joint venture with General Motors since 1998. SAIC products sell under a variety of brand names, including those of its joint venture partners. Two notable brands owned by SAIC itself are MG, a historic British car marque, and Roewe, one of the few domestic Chinese luxury car brands

SAIC Motor Corporation Logo

Finance

SAIC Motor Corporation has been growing its sales by 6.13% a year on average in the last 5 years. EBITDA has grown on average by 10.5% a year during that time to total of CNY 27,155 mil in 2019, or 3.22% of sales. That’s compared to 3.27% average margin seen in last five years.

The company netted CNY 25,603 mil in 2019 implying ROE of 8.74% and ROCE of 8.02%. Again, the average figures were 12.9% and 11.4%, respectively when looking at the previous 5 years.

SAIC Motor Corporation’s net debt amounted to CNY 41,756 mil at the end of 2019, or 13.9% of equity. When compared to EBITDA, net debt was 1.54x, up when compared to average of 1.27x seen in the last 5 years.

Valuation

SAIC Motor Corporation stock traded at CNY 22.7 per share at the end of 2019 resulting in a market capitalization of USD 40,016 mil. Over the previous five years, stock price grew by 46.7% or 7.97% a year on average. The closing price put stock at a 12-month trailing EV/EBITDA of 11.7x and price to earnings (PE) of 10.4x as of 2019.