Announcement • Jun 30
SAIC Motor Corporation Limited to Report First Half, 2026 Results on Aug 29, 2026 SAIC Motor Corporation Limited announced that they will report first half, 2026 results on Aug 29, 2026 Board Change • May 20
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Xiaoyan Song was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 30
SAIC Motor Corporation Limited, Annual General Meeting, Jun 26, 2026 SAIC Motor Corporation Limited, Annual General Meeting, Jun 26, 2026, at 14:00 China Standard Time. Location: 3F, Building 3, No. 79, Tongjia Road, Hongkou District, Shanghai China Announcement • Mar 30
SAIC Motor Corporation Limited to Report Q1, 2026 Results on Apr 30, 2026 SAIC Motor Corporation Limited announced that they will report Q1, 2026 results on Apr 30, 2026 Announcement • Dec 26
SAIC Motor Corporation Limited to Report Fiscal Year 2025 Results on Apr 02, 2026 SAIC Motor Corporation Limited announced that they will report fiscal year 2025 results on Apr 02, 2026 Announcement • Sep 30
SAIC Motor Corporation Limited to Report Q3, 2025 Results on Oct 31, 2025 SAIC Motor Corporation Limited announced that they will report Q3, 2025 results on Oct 31, 2025 Announcement • Jun 30
SAIC Motor Corporation Limited to Report First Half, 2025 Results on Aug 29, 2025 SAIC Motor Corporation Limited announced that they will report first half, 2025 results on Aug 29, 2025 Announcement • May 30
SAIC Motor Corporation Limited, Annual General Meeting, Jun 27, 2025 SAIC Motor Corporation Limited, Annual General Meeting, Jun 27, 2025, at 09:30 China Standard Time. Announcement • Mar 28
SAIC Motor Corporation Limited to Report Q1, 2025 Results on Apr 30, 2025 SAIC Motor Corporation Limited announced that they will report Q1, 2025 results on Apr 30, 2025 Announcement • Jan 07
JSW Group Reportedly in Talks to Acquire Everstone Capital's 8% Stake in MG India The JSW Group is nearing the completion of negotiations with Everstone Capital to acquire its 8% stake in MG India. According to a report by The Times of India, the discussions have reached an advanced stage, focusing on the financial terms and the premium JSW is willing to pay. Currently, JSW Group, led by industrialist Sajjan Jindal, holds a 35% stake in MG India. Should the deal proceed, JSW’s ownership would increase to 43%. Despite this significant increase, it would still fall short of a controlling majority. Uncertain remains on whether JSW plans to acquire additional shares from other stakeholders to consolidate its position further. Everstone Capital owns 8% of MG India, and another 8% is shared between MG dealers and employees. The 8% stake held by Everstone Capital is valued at approximately INR 10.00 billion - INR 12.00 billion, the report added. MG India’s parent company, China-based SAIC Motor Corporation Limited (SHSE:600104), retains a 49% stake in the joint venture. The collaboration between JSW and SAIC, known as JSW MG Motor India, was formalised in late 2023, with an initial investment exceeding INR 50.00 billion. Announcement • Dec 27
SAIC Motor Corporation Limited to Report Fiscal Year 2024 Results on Apr 30, 2025 SAIC Motor Corporation Limited announced that they will report fiscal year 2024 results on Apr 30, 2025 Valuation Update With 7 Day Price Move • Nov 13
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to CN¥16.73, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 16x in the Auto industry in China. Total loss to shareholders of 12% over the past three years. Reported Earnings • Oct 31
Third quarter 2024 earnings released: EPS: CN¥0.024 (vs CN¥0.38 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.024 (down from CN¥0.38 in 3Q 2023). Revenue: CN¥145.8b (down 26% from 3Q 2023). Net income: CN¥279.7m (down 94% from 3Q 2023). Profit margin: 0.2% (down from 2.2% in 3Q 2023). Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Auto industry in China. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to CN¥14.63, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 15x in the Auto industry in China. Total loss to shareholders of 16% over the past three years. Announcement • Sep 30
SAIC Motor Corporation Limited to Report Q3, 2024 Results on Oct 31, 2024 SAIC Motor Corporation Limited announced that they will report Q3, 2024 results on Oct 31, 2024 New Risk • Sep 02
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.9% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.9% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Aug 31
Second quarter 2024 earnings released: EPS: CN¥0.34 (vs CN¥0.37 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.34 (down from CN¥0.37 in 2Q 2023). Revenue: CN¥141.6b (down 22% from 2Q 2023). Net income: CN¥3.91b (down 9.0% from 2Q 2023). Profit margin: 2.8% (up from 2.4% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Auto industry in China. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. New Risk • Aug 30
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.9% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.9% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Jun 28
SAIC Motor Corporation Limited to Report First Half, 2024 Results on Aug 30, 2024 SAIC Motor Corporation Limited announced that they will report first half, 2024 results on Aug 30, 2024 Reported Earnings • Apr 30
First quarter 2024 earnings released: EPS: CN¥0.24 (vs CN¥0.24 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.24 (down from CN¥0.24 in 1Q 2023). Revenue: CN¥143.1b (down 1.9% from 1Q 2023). Net income: CN¥2.71b (down 2.5% from 1Q 2023). Profit margin: 1.9% (in line with 1Q 2023). Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Auto industry in China. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Announcement • Mar 30
SAIC Motor Corporation Limited, Annual General Meeting, Jun 28, 2024 SAIC Motor Corporation Limited, Annual General Meeting, Jun 28, 2024, at 10:00 China Standard Time. Location: 3F, Building 3, No. 79, Tongjia Road, Hongkou District, Shanghai China Reported Earnings • Mar 30
Full year 2023 earnings released: EPS: CN¥1.23 (vs CN¥1.40 in FY 2022) Full year 2023 results: EPS: CN¥1.23 (down from CN¥1.40 in FY 2022). Revenue: CN¥744.7b (flat on FY 2022). Net income: CN¥14.1b (down 13% from FY 2022). Profit margin: 1.9% (down from 2.2% in FY 2022). Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Auto industry in China. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Announcement • Mar 29
SAIC Motor Corporation Limited to Report Q1, 2024 Results on Apr 30, 2024 SAIC Motor Corporation Limited announced that they will report Q1, 2024 results on Apr 30, 2024 Announcement • Dec 29
SAIC Motor Corporation Limited to Report Fiscal Year 2023 Results on Mar 30, 2024 SAIC Motor Corporation Limited announced that they will report fiscal year 2023 results on Mar 30, 2024 Announcement • Dec 02
JSW Group signed an agreement to acquire 35% stake in MG Motor India Private Limited from SAIC Motor Corporation Limited. JSW Group signed an agreement to acquire 35% stake in MG Motor India Private Limited from SAIC Motor Corporation Limited on November 30, 2023. EY acted as the exclusive financial advisor to the JSW Group: Financial due diligence; Coordination/review of due diligence; Tax due diligence; Negotiations of terms and conditions; Management of other advisors/process; Valuation analysis before or during negotiations; Advice on negotiation; Valuation - model review; Sale and purchase agreement advice/ Structuring; Advice on tax-efficient financing of acquisitions. Reported Earnings • Oct 27
Third quarter 2023 earnings released: EPS: CN¥0.38 (vs CN¥0.50 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.38 (down from CN¥0.50 in 3Q 2022). Revenue: CN¥196.8b (down 6.9% from 3Q 2022). Net income: CN¥4.32b (down 25% from 3Q 2022). Profit margin: 2.2% (down from 2.7% in 3Q 2022). Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Auto industry in China. Over the last 3 years on average, earnings per share has fallen by 17% per year whereas the company’s share price has fallen by 13% per year. Announcement • Sep 30
SAIC Motor Corporation Limited to Report Q3, 2023 Results on Oct 27, 2023 SAIC Motor Corporation Limited announced that they will report Q3, 2023 results on Oct 27, 2023 Buying Opportunity • Jul 19
Now 20% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be CN¥17.85, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 8.3%. Revenue is forecast to grow by 11% in 2 years. Earnings is forecast to grow by 41% in the next 2 years. Announcement • Jul 13
Audi Reportedly Seeks to Buy Chinese EV Platform AUDI AG is in talks with SAIC Motor Corporation Limited (SHSE:600104) to buy an electric vehicle platform from the Chinese state-owned automaker, two people familiar with the matter said, an unprecedented effort to shore up market share. The move, coming as sales of Audi's EV products fall sharply behind those of Tesla and domestic competitors such as Nio, spotlights the pressure on all legacy and Western brands in the world's largest auto market, as they battle over EVs. The premium car brand of Volkswagen AG (VOWG_p.DE) seeks to take over the EV platform owned by SAIC's EV unit, Zhiji Motor Technology Co., Ltd. (IM Motors), said the sources, who sought anonymity as the matter is private. Talks are at an advanced stage, one of them added. IM Motors, which started delivery of its first model, the L7 sedan, in June 2022, is a premium EV brand controlled by SAIC and its investors include e-commerce giant Alibaba Group (9988.HK). Audi declined to comment on whether the talks were taking place. SAIC declined to comment. Reuters was not immediately able to establish the price Audi has offered for the EV platform and whether SAIC would still be involved in making the L7 sedan after the deal. Announcement • Jun 16
Mahindra & Mahindra, Hinduja Group Reportedly Join Race to Buy MG Motor India Automobile major Mahindra & Mahindra Limited (NSEI:M&M) and Hinduja Group Limited, promoter of Ashok Leyland Limited (NSEI:ASHOKLEY), have joined the race to acquire a significant stake in MG Motor India Private Limited, a wholly owned arm of Shanghai-headquartered SAIC Motor Corporation Limited (SHSE:600104), investment banking sources told Business Standard on June 14, 2023. The Sajjan Jindal-led JSW group has already evinced interest to take up to 48% stake in MG Motor India. The company's valuation is pegged at over INR 80 billion, the sources said. MG Motor India, which has about 1% share in the domestic passenger vehicle market, has sought expressions of interest from Indian firms, but no binding offers have been made so far, according to the sources. Announcement • Jun 14
SAIC Motor Corporation Limited (SHSE:600104) announces an Equity Buyback for CNY 2,000 million worth of its shares. SAIC Motor Corporation Limited (SHSE:600104) announces a share repurchase program. Under the program, the company will repurchase up to CNY 2,000 million worth of its shares. The shares will be repurchased at a price not more than CNY 20.68 per share. The shares repurchased will be used for employee stock ownership plans or equity incentives. The program will be valid for 12 months. Reported Earnings • Apr 29
First quarter 2023 earnings released: EPS: CN¥0.24 (vs CN¥0.48 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.24 (down from CN¥0.48 in 1Q 2022). Revenue: CN¥145.9b (down 20% from 1Q 2022). Net income: CN¥2.78b (down 50% from 1Q 2022). Profit margin: 1.9% (down from 3.0% in 1Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 7.3% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Auto industry in China. Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 9% per year. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Zheng Sun was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 29
Third quarter 2022 earnings released: EPS: CN¥0.50 (vs CN¥0.61 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.50 (down from CN¥0.61 in 3Q 2021). Revenue: CN¥211.4b (up 13% from 3Q 2021). Net income: CN¥5.74b (down 18% from 3Q 2021). Profit margin: 2.7% (down from 3.8% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Auto industry in China. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 16% per year, which means it is performing significantly worse than earnings. Reported Earnings • Aug 27
Second quarter 2022 earnings released: EPS: CN¥0.12 (vs CN¥0.56 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.12 (down from CN¥0.56 in 2Q 2021). Revenue: CN¥133.5b (down 25% from 2Q 2021). Net income: CN¥1.39b (down 78% from 2Q 2021). Profit margin: 1.0% (down from 3.7% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the next year, revenue is forecast to grow 16%, compared to a 57% growth forecast for the Auto industry in China. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has fallen by 14% per year, which means it is performing significantly worse than earnings. Buying Opportunity • Jul 05
Now 20% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be CN¥21.65, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 8.8%. Revenue is forecast to grow by 18% in 2 years. Earnings is forecast to grow by 32% in the next 2 years. Reported Earnings • May 02
First quarter 2022 earnings released: EPS: CN¥0.48 (vs CN¥0.59 in 1Q 2021) First quarter 2022 results: EPS: CN¥0.48 (down from CN¥0.59 in 1Q 2021). Revenue: CN¥182.5b (down 3.5% from 1Q 2021). Net income: CN¥5.52b (down 19% from 1Q 2021). Profit margin: 3.0% (down from 3.6% in 1Q 2021). The decrease in margin was driven by lower revenue. Over the next year, revenue is forecast to grow 10%, compared to a 19% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 15% per year, which means it is performing significantly worse than earnings. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. 1 highly experienced director. 3 independent directors (4 non-independent directors). Independent Director Ruoshan Li was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Aug 28
Second quarter 2021 earnings released: EPS CN¥0.56 (vs CN¥0.62 in 2Q 2020) The company reported a poor second quarter result with weaker earnings and profit margins, although revenues were flat. Second quarter 2021 results: Revenue: CN¥177.0b (flat on 2Q 2020). Net income: CN¥6.47b (down 11% from 2Q 2020). Profit margin: 3.7% (down from 4.1% in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Reported Earnings • May 02
First quarter 2021 earnings released: EPS CN¥0.59 (vs CN¥0.096 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥189.1b (up 79% from 1Q 2020). Net income: CN¥6.85b (up CN¥5.73b from 1Q 2020). Profit margin: 3.6% (up from 1.1% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 26
Full year 2020 earnings released: EPS CN¥1.75 (vs CN¥2.19 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥742.1b (down 12% from FY 2019). Net income: CN¥20.4b (down 20% from FY 2019). Profit margin: 2.8% (down from 3.0% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Feb 27
New 90-day low: CN¥21.25 The company is down 22% from its price of CN¥27.08 on 27 November 2020. The Chinese market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto industry, which is down 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥22.71 per share. Is New 90 Day High Low • Jan 29
New 90-day low: CN¥21.94 The company is down 5.0% from its price of CN¥23.15 on 30 October 2020. The Chinese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥22.71 per share. Valuation Update With 7 Day Price Move • Jan 11
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥26.43, the stock is trading at a trailing P/E ratio of 14.4x, up from the previous P/E ratio of 12.4x. This compares to an average P/E of 55x in the Auto industry in China. Total return to shareholders over the past three years is a loss of 4.6%. Valuation Update With 7 Day Price Move • Nov 06
Market bids up stock over the past week After last week's 19% share price gain to CN¥27.50, the stock is trading at a trailing P/E ratio of 15x, up from the previous P/E ratio of 12.6x. This compares to an average P/E of 56x in the Auto industry in China. Total return to shareholders over the past three years is a loss of 1.1%. Is New 90 Day High Low • Nov 05
New 90-day high: CN¥25.41 The company is up 40% from its price of CN¥18.10 on 07 August 2020. The Chinese market is down 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto industry, which is up 19% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥8.96 per share. Analyst Estimate Surprise Post Earnings • Nov 01
Third-quarter earnings released: Revenue beats expectations Third-quarter revenue exceeded analyst estimates by 5.9% at CN¥210.1b. Revenue is forecast to grow 7.4% over the next year, compared to a 29% growth forecast for the Auto industry in China. Reported Earnings • Nov 01
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥21.5b, down 26% from the prior year. Total revenue was CN¥756.6b over the last 12 months, down 6.9% from the prior year. Is New 90 Day High Low • Oct 20
New 90-day high: CN¥21.11 The company is up 11% from its price of CN¥18.94 on 22 July 2020. The Chinese market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥8.66 per share. 
