Shanghai automobile group

Company Profile: 1984, Shanghai Automobile Group Co., Ltd. was established in Shanghai. 1985, SAIC Volkswagen Co., Ltd. was established by SAIC and Volkswagen 1997, SAIC General Motors Co., Ltd. was established by SAIC and GM, and the group was listed on the Shanghai Stock Exchange. In 2020, SAIC established Zhiji Automobile Technology Co., Ltd. In 2022, the company's main business was R&D, production and sales of complete vehicles and parts; Logistics, mobile travel, car life service; Automobile related finance, etc. Ranked 203rd in Forbes Global Enterprise 2000.

Commercial license plate

★ In the first half of 2022, the company realized an operating income of 365,438+059.93 million yuan, a year-on-year decrease of 65,438+03.69%. The net profit was 69 1 100 million yuan, down 48. 10% year-on-year.

★ Specific to different product businesses, take 202 1 as an example, in which the revenue from vehicle business is 556.967 billion yuan, the revenue from parts business is 159407 billion yuan, the trade business is 124438+0 billion yuan, and the financial business is 19438+0 billion yuan.

Product introduction

★ SAIC's main source of income is car sales. Accounting for 7 1%. The annual automobile sales reached 5.464 million. Among them, the sales volume of new energy vehicles was 733,000, a year-on-year increase of 128.93%.

★ Among all the joint venture subsidiaries, the highest sales volume is SAIC-GM-Wuling, SAIC-GM and SAIC Volkswagen, with 2.021.66 million vehicles, 1.33 million vehicles and 1.24 million vehicles.

★ At the same time, the company has built its own brands such as Roewe and MG, with an annual sales volume of 800,000 vehicles in 202/KLOC-0.

★ Zhiji Automobile is an automobile brand jointly built by the company, Zhangjiang Hi-Tech and Alibaba in 2020. Committed to seize the opportunities in the new energy market and lay out the high-end automobile market. At present, the first coupe-type Zhiji L7 was launched in 2022.

★ The last brand of new energy vehicles is Fan Fei Automobile, followed by Zhiji Automobile born out of Roewe R series. At present, the first model is the pure electric SUV Fan Fei R7.

Core executives

Chen Hong: Born in 196 1, graduated from Tongji University with a bachelor's degree in industrial electrical automation in 1984, and is a senior engineer and economist. He is currently the secretary and chairman of the Party Committee of Shanghai Automotive Group Co., Ltd. and the chairman of Huayu Automotive System Co., Ltd., and has served as the vice president of Shanghai Automotive Industry Corporation, the general manager of Shanghai General Motors Co., Ltd., the president and deputy secretary of the Party Committee of Shanghai Automotive Group Co., Ltd., and the vice chairman and deputy secretary of the Party Committee of Shanghai Automotive Industry Corporation.

Wang Xiaoqiu: Born in 1964, with a postgraduate degree and a doctorate in engineering, he is a senior engineer. He is currently the director, president and deputy secretary of the Party Committee of Shanghai Automobile Group Co., Ltd., the vice chairman of Huayu Automobile System Co., Ltd., the former deputy general manager of Shanghai Automobile Group Co., Ltd., the general manager and party secretary of SAIC Yizheng Automobile Co., Ltd., the general manager of SAIC Manufacturing Co., Ltd. and the executive director of the purchasing department of Shanghai Automobile Group Co., Ltd.

Ownership structure: ★ The company is a state-owned enterprise with clear ownership structure. The actual controller is the Shanghai State-owned Assets Supervision and Administration Commission, which holds about 68.37% of the shares through Shanghai Automotive Industry Group Co., Ltd. ★ The following figure shows the shareholding structure as of the first half of 2022.

financial target

★ The company's revenue has declined slightly in recent years, mainly due to the decline in sales of traditional fuel vehicles, and the proportion of the company's new energy vehicle business is still low.

★ The Mao Lijiao of the company is low, which has fallen below 65,438+00%, of which the gross profit margin of the core vehicle business is only 4.965,438+0%, and the gross profit margin of the parts business with the second largest revenue is 23.23%.

★ In the first half of 2022, the company's debt ratio was 65.08%, which was in the middle and high position.

★ The company's operating cash flow in the first half of 2022 was negative, mainly due to the decline in automobile sales in the first half of the year due to the epidemic.

Industry trend

★ China's automobile sales achieved a recovery growth.

Since 20 18, China automobile industry has experienced three consecutive declines in production and sales, and 202 1 encountered a chip shortage.

A series of severe challenges, but driven by the export of new energy vehicles and complete vehicles, China 202 1

The automobile industry achieved a sales volume of 26.275 million vehicles, up 3.8% year-on-year, achieving a recovery growth.

In terms of long-term trends:

★ According to the experience of the pilot market, when the number of passenger cars exceeds 150, it will enter a new stage of fluctuating growth.

★ China's "* * * with the rich" policy will narrow the income gap and help automobile consumption for a long time.

★ Under the guidance of the "double carbon" national strategy, the new energy vehicle market will usher in long-term benefits. According to the number of vehicles owned by domestic users for 5-8 years, users are entering the renewal cycle during the peak period of 20 14-20 17, which will bring market opportunities for stock exchange.

In terms of short-term factors:

★ At the end of 20021,the state issued a series of steady growth policies, which will promote the release of automobile consumption demand.

★ With the rapid increase of market acceptance, the withdrawal of subsidy policy in 2023 may lead to "early consumption", and the new energy vehicle market will maintain rapid growth.

★ In 20021year, the industry is "wholesale and retail upside down", which will have a certain replenishment effect in 2022.

development strategy

★ Seize the development opportunity of the new energy vehicle market, and keep the sales of new energy vehicles growing continuously under the adverse influence of epidemic situation and chip shortage. SAIC Volkswagen, Intimate and SAIC Audi have all launched new energy vehicles and delivered them one after another.

★ Promote marketing reform and promote terminal sales.

In the face of the epidemic, all vehicle companies under the company adopt new marketing models such as live short video, offline group purchase and car delivery.

★ Vigorously explore the international market

The global cumulative sales volume of MG brand has exceeded 6.5438+0 million, which has been recognized by more and more overseas consumers. At the same time, in the first half of 2022, independent brands accounted for more than two-thirds, and the sales of new energy vehicles were nearly 40,000, up 1 10% year-on-year.

Knowledge refining

SAIC Volkswagen: It is a joint venture between SAIC and Volkswagen, and it has two brands, Volkswagen and Skoda. Among them, Volkswagen's models are Passat, Santana, Polo, Ling Du, LaVida, Hui 'ang and Tiguan, and Skoda's models are Ming Rui, Xinrui, Speedmaster and Kodiak.

SAIC-GM: SAIC-GM is a joint venture between SAIC and General Motors, which owns three brands: Buick, Chevrolet and Cadillac. Among them, Buick models include LaCrosse, Regal, Lang Wei, Angkor, GL8 and so on. Chevrolet models include Pioneer, Explorer, Star Milo and Mai Rui Bao, and Cadillac models include CT4 and XT4.

SAIC-GM-Wuling: A joint venture company jointly established by SAIC, GM and Guangzhou Automobile Group, which owns two brands: Wuling and Baojun. Wuling brands mainly include Wuling Hong Guang and Wuling Chen Xing, while Baojun has Kiwi, Wali and RC-5.

Roewe: This is a brand launched by SAIC in 2006, which means innovation and credibility. It has RX5 and other products.

MG: It's a century-old British sports car brand. It was founded in Oxford, England 1924, and was acquired by SAIC in 2007. It has models such as MG7.

Smart Machine: A car brand jointly built by SAIC, Zhangjiang Hi-Tech and Alibaba in 2020. At present, its first model is the intelligent machine L7.

Fan Fei: Like Zhiji, it is a brand of new energy vehicles under SAIC, and the first model, Fan Fei R7, was launched in 2022.

Iveco: It is the abbreviation of Nanjing Iveco Automobile Co., Ltd., which was established in 1996. At present, it is a subsidiary of SAIC, and its products are mainly light buses and trucks.

SAIC Datong: a subsidiary of SAIC, mainly engaged in MPV, SUV, RV and so on.

SAIC Hongyan: a subsidiary of SAIC, mainly engaged in heavy vehicles.

SAIC Shenwo is a joint venture between SAIC, Volvo (China) and Sweden Volvo Bus Company, which mainly produces long-distance buses and buses.