With several listed automakers releasing semi-annual reports at the end of August, on the evening of August 29, SAIC Motor Corporation (600104) also released the 2017 semi-annual report that bested the same period. Financial report disclosed that in the report period, SAIC Group achieved total operating revenue of 396.046 billion yuan, up 12.85 percent year-on-year; total vehicle sales were 3.175 million, an increase of 5.8 percent year-on-year, and the domestic market share steadily increased to 23 percent; The net profit of the company’s shareholders was 15.558 billion yuan, an increase of 5.96% year-on-year, and a basic earnings per share of 1.38 yuan. Although SAIC GM and SAIC-Volkswagen sales did not increase substantially in the first half of the year, they are still very profitable: In the first half of the year, SAIC Motor’s profit attributable to the listed parent company was 9.36 billion yuan, and SAIC Motor’s was 13.167 billion yuan. From this point of view, it is not so surprising that SAIC Motor Group has earned 160 billion yuan once again becoming the most profitable listed car company in China. In fact, SAIC Group's success in its operations has also brought great returns to its shareholders. Not only has the dividend ratio for consecutive years been as high as more than 50%, but the company's share price has also remained steadily rising. This year, SAIC has risen about 39%. Currently, the market value has exceeded RMB350 billion. “In the face of changes in the market and industry structure, SAIC Group has always insisted on innovation-driven transformation and upgrading in recent years, giving full play to the overall competitive advantages of the industry chain, continuously expanding its leading edge in the domestic market, and accelerating its efforts to provide consumers with comprehensive automotive products and services. The comprehensive supplier 'transformation is the main reason for the SAIC Group to maintain a good development trend. SAIC Group said in the information provided to the Times Weekly reporter. Joint venture brand contributed nearly 90% of sales Behind the beautiful semi-annual report card, the SAIC Group's three major brands SAIC Volkswagen, SAIC General Motors, and SAIC-GM-Wuling are all making steady progress. Sales account for 89.8% of the Group's total sales, and are still the core of SAIC Motor’s contribution. In the SAIC-Volkswagen segment, it sold 970,000 vehicles in the first half of the year, which was basically stable compared with the sales volume in the first half of last year. It is worth mentioning that, for the first time, Longyi achieved the first sales volume of the whole car, thanks to the successful listing of the new Tiguan L and seven full-size high-end SUVs, which made SAIC-Volkswagen a force in both the sedan and SUV markets. In addition, Skoda's Kodiak and Octavia's station car Combi have been listed successively to further improve SAIC's product distribution in the high-end segment. Although the overall performance of SAIC-Volkswagen is robust, Kodak, the medium-size SUV that Skoda has high hopes for, has been climbing since the Shanghai Auto Show went public. Just as the 20th anniversary of the establishment of this year, SAIC GM has so far sold more than 14 million cars. In the first half of this year, SAIC General Motors sold 867,000 vehicles, a slight increase of 4% year-on-year. Among them, the Buick brand is still the main force. In the first half of the year, a total of 555,000 vehicles were sold. The GL8 also led the growth of the domestic high-end MPV market. As the only luxury brand under SAIC's GM brand, the Cadillac brand has achieved the most outstanding performance with significant sales growth. In the first half of the year, it sold 80,000 units, a year-on-year increase of 75%. Undoubtedly, the growth of the Cadillac brand also means SAIC GM's overall product structure and profitability. In the second half of the year, SAIC GM’s three major brands, Buick, Chevrolet and Cadillac, will also accelerate the pace of product updates, including the launch of Buick's sixth-generation Regal and GL6 heavy models. In addition, SAIC-GM-Wuling sold a total of 1.013 million automobiles in the first half of the total segment of SAIC Motor’s total segment, which accounted for 31.91% of SAIC's total sales. It was also SAIC Motor’s only company with sales volume exceeding 1 million. In February of this year, SAIC-GM-Wuling targeted the small SUV market and launched the Baojun 510. This product was highly recognized by the market once it was launched. In the first month of listing, the sales volume reached 8086 units, but due to the sluggish domestic MPV market, the sales volume of the two “Shentai†Wuling Hongguang and Baojun 730 all slowed down, which also caused SAIC-GM-Wuling’s sales to increase slightly in the first half of the same period of last year. 0.07%. SAIC Passenger Vehicle grows rapidly In the overall plan, the performance of SAIC Group can be summarized as the joint venture did not leave the team and come to the initiative. From the data display, SAIC Passenger Vehicle sold 324,000 vehicles in the first half of the year, an increase of 113% year-on-year. A comparison of Times Weekly reporters found that SAIC Motor's passenger vehicles in the first half of this year were able to achieve such a substantial increase, due entirely to the speed of product renewal. In the same period of last year, the product lineup of SAIC passenger vehicles was not complete, but in the first half of this year, SAIC passenger cars welcomed a variety of MG ZS, Roewe 360, Roewe RX5, Roewe i6, Roewe ei6, Roewe e950, Roewe eRX5 and many other models. The launch of the new car not only enriched the SAIC passenger car product matrix, but also catered to the market's mainstream consumer demand. At the same time, SAIC passenger vehicles are also more successful in terms of technology, humanization, intelligence, and new energy. Roewe RX5, MG ZS and other smart car models, the rapid growth in sales, but also to SAIC own brand image and sales have improved. It is reported that in the second half of this year, Roewe will also launch a small-sized SUV that targets less than RX5, and MG will also launch the first sedan in the new generation product line. In response, Industrial Securities mentioned in its research report that from the second half of this year to the first half of next year, SAIC will welcome the harvest period from the main brand. Industry analyst Zhang Zhiyong told Times Weekly reporter that although SAIC Motor's rapid growth can be seen as its grasp of the market and precise positioning, it is undeniable that SAIC passenger vehicle sales accounted for only 7.36% of the group's total sales. , With a large joint venture brand still can not compete, it can be seen SAIC Group in its own brand development is still a long way to go. At risk In addition, SAIC Datong, which is advancing into the passenger vehicle market, sold 28,000 vehicles in the first half of the year, an increase of 30% year-on-year. Six months of sales had reached 60.8% of last year's total sales, and they performed equally well. For SAIC Chase, the heaviest product is the D90. In the future, if the passenger car segment can open the market, it will bring SAIC Chase brand and sales to a new level. Of course, if the D90 fails, then it will put a huge question mark on the road to Shangqiu to Shangqi Datong and can only restrict its brand to commercial vehicles and MPV. However, from the current market acceptance of G10 and EG10, SAIC Chase also has a certain mass base in the consumer market. At the same time, SAIC Motor’s own brand production base layout was accelerated and the SAIC Passenger Car Zhengzhou manufacturing base and SAIC Datong Nanjing Branch were established one after another to provide guarantee for the production and launch of follow-up products. “From the perspective of the total vehicle business, which accounts for more than 70% of the total revenue, the product structure of SAIC Group has moved up significantly. The Group and its respective brands have almost coordinated steps, which represents SAIC Motor’s overall grasp of the market rhythm. This kind of overall product structure optimization is obviously not accidental. With the constant optimization of the brand product structure and the continuous improvement of product lines, SAIC Motor Group's share price will rise to a higher level in the future.†Zhang Zhiyong said. Even if the SAIC Group has unlimited scenery in the first half of the year, it faces certain challenges. In the semi-annual report, SAIC Group disclosed three risks that may be faced in the future market: First, the preferential policies for the purchase of small-displacement automobiles will expire at the end of this year. Although the auto market is favorable for the second half of the year, the sales base of the same period last year Very high, there is great uncertainty in the second half of the year when the market can re-emerge sharply. Second, the end of the preferential taxation of purchase tax policy may lead to “overdraft†impact on the growth of the auto market next year. Third, the market growth structure is significantly different from the consumption. The characteristics of demand upgrading, individuation, and differentiation are even more obvious. There are risks in technology and model innovation, and it is difficult to achieve effective supply of products and services. Coated O-Ring ,Teflon Coated O Rings,Teflon Encapsulated Viton,Ptfe Coated O Ring Ningbo Robon Sealing CO.,LTD , https://www.rboorb.com