【 Quick News 】 SAIC Releases Half Year Report with Double Growth in Revenue and Net Profit

SAIC Group released its 2023 semi annual report today. In the first half of this year, the company achieved wholesale sales of 2.072 million vehicles and terminal retail sales of 2.237 million vehicles, continuing to maintain its leading position in the domestic industry, and monthly sales continued to grow month on month. Sales in the second quarter increased by 32.5% compared to the first quarter, outperforming the overall market growth rate. In the first half of the year, SAIC's overseas sales reached 533000 vehicles, continuing to lead the industry; The sales of new energy vehicles reached 372000 units, ranking second among Chinese car companies and maintaining a "month on month continuous increase" since January. During the reporting period, the company achieved a combined total operating revenue of 326.55 billion yuan, a year-on-year increase of 3.34%, and a net profit attributable to shareholders of the listed company of 7.09 billion yuan, a year-on-year increase of 2.54%, by optimizing its structure, reducing costs and increasing efficiency. With the accelerated implementation of the three-year action plan for the development of new energy vehicles, SAIC is leading new development with new growth, and the driving force for the transition between new and old tracks is steadily advancing.

Overseas business will achieve "scale profitability".

In the first half of the year, SAIC's overseas sales reached 533000 vehicles, a year-on-year increase of 40%. The independent brand MG has ranked first in overseas sales of a single brand in China for four consecutive years. From January to June this year, it sold 115000 vehicles in Europe, a year-on-year increase of 143%. New energy sales accounted for more than 50% of the total, and it has exceeded 20000 vehicles in a single month for four consecutive months. It has entered the top seven markets in the Middle East, Chile, Australia, and Mexico, with a market share of over 5%; SAIC GM Wuling Baojun 530 has become the sales champion in the Mexican sub market, and Air EV has a 40% market share in the Indonesian sub market; SAIC Maxus overseas retail sales increased by 47% year-on-year, with sales in the Australian, European, and Mexican markets all exceeding 10000 in the first half of the year. With the rapid increase in overseas sales, SAIC's overseas business will achieve "scale profitability" throughout this year.

The sales of new energy continue to rise month on month.

In the first half of the year, SAIC sold 372000 new energy vehicles, ranking second among Chinese car companies. Since January, it has maintained a "month on month continuous increase". In July, SAIC Motor sold 91000 new energy vehicles, reaching a new high for the year. In the third quarter, it will sprint to "monthly sales of 100000"; SAIC's monthly sales of new energy vehicles for passenger vehicles are approaching the 30000 mark; SAIC Volkswagen and SAIC General Motors' monthly sales of new energy vehicles have both surpassed 10000 for the first time; SAIC-GM Wuling Binguo electric vehicle has sold over 20000 units per month, and the new pure electric vehicle Baojun "Cloud" has opened blind orders within 10 days, with orders exceeding 10000. SAIC's independent and joint venture sectors are showing a clear trend of comprehensive development, and the overall development prospects of new energy vehicles are improving.

Innovative technology promotes the acceleration of new tracks.

At present, SAIC is actively shaping its vehicle integration capabilities and technological innovation advantages from chips, operating systems, software, data closed-loop, motion control systems, three electrical systems to corresponding scenarios, and building a new "technological life body" with a "strong heart", "agile body", and "intelligent brain". In the next three years, SAIC's intelligent electric innovation technology will be concentrated and implemented, continuously promoting the acceleration of the new track. In the third quarter of this year, the "Strongest 6 Series in History" Zhiji LS6 will be the first to be equipped with an 800V silicon carbide electric shaft, with acceleration performance comparable to million level supercars and a 5-minute recharge of 200 kilometers; In the future, the autonomous tram will easily enter the "2-second acceleration club". In 2024, we will take the lead in promoting the large-scale production and implementation of solid-state battery technology, doubling energy density, improving safety performance, and lowering costs. In 2024, the "vehicle central coordinated motion controller technology" will be mass-produced and implemented, enabling vehicles to maintain body stability in different driving modes and complex road conditions, allowing beginners to instantly become experienced drivers, bringing the ultimate safety and comfort experience. In 2025, the "Central Computing+Regional Control" full stack 3.0 intelligent vehicle solution will be fully implemented, achieving the integration of "cabin, driving, computing, and connectivity" in four domains. The number of domain controllers will be reduced by half, data bandwidth will be increased by 5 times, wire harness length will be reduced by 30%, OTA speed will be increased by 70%, IOT ecology will be deeply integrated, supporting data closed-loop, and vehicles will have self-learning, self evolution, and self growth capabilities, becoming the most caring "intelligent travel companion" for people.