SAIC released its first half-year report of 2023 yesterday evening, with double growth in revenue and net profit. Consolidated total operating income of RMB 326.55 billion, up 3.34% year-on-year; net profit attributable to shareholders of listed companies of RMB 7.09 billion, up 2.54% year-on-year.
During the reporting period, SAIC realized 2,072,000 units of vehicle sales and 2,238,000 units of end-user retail sales, and its monthly sales volume increased sequentially from the first quarter to the second quarter. Among them, sales in the second quarter increased by 32.5% compared with the first quarter, outperforming the market; SAIC’s sales in overseas markets reached 533,000 units.
SAIC announced that it has formulated a “Three-Year Action Plan for New Energy Vehicle Development”, and promoted the implementation of four important initiatives:
1. Innovative organization system to speed up response speed. The company set up a three-year action plan for the development of new energy vehicles command, the independent brand of new energy business development of major issues for rapid decision-making, and the establishment of ZhiJi automobile, passenger car company, two major attack team, the use of "strong project" management mechanism, cooperation with key enterprises to build a "close cooperation circle Adopting the "strong project" management mechanism and building a "close cooperation circle" with key enterprises to gather resources and accelerate project promotion. 2, clear brand positioning, improve the product camp. The company has further clarified the positioning of its own brands, such as Zhiji, Feifan, Rongwei, MG, Wuling, etc., to form a new energy brand camp with full coverage of "high, medium and low, domestic and international" markets; meanwhile, in terms of product layout, it is planned that Zhiji Automobile will launch 3 new pure electric models by 2025, and SAIC Passenger Vehicle will launch 10 new models to fully enhance its position in pure electric models, and to improve its position in pure electric models. Meanwhile, in terms of product layout, it is planned that by 2025, Wise Auto will launch 3 new pure electric models, and SAIC Passenger Vehicle Company will launch 10 new models to comprehensively enhance product competitiveness in pure electric and plug-in hybrid markets. 3. Enhance the core competence and strengthen the development momentum. SAIC has set up and implemented four core technology research projects, including "new-generation full-stack 3.0 intelligent vehicle solutions, EV energy closed-loop technology, advanced manufacturing integration technology, and centrally coordinated motion controller (VMC) technology", and has comprehensively improved its cost competitiveness in multiple dimensions, such as technology, efficiency, and scale, through shared platforms, agile development, supply chain optimization, and many other initiatives. Through sharing platform, agile development, supply chain optimization and other initiatives, the company has comprehensively improved its cost competitiveness from technology, efficiency and scale. 4. Change the system and mechanism to stimulate energy and vitality. The company has formulated special working rules for the relevant organizational structure on the new track, incorporated them into the internal control system, optimized the decision-making process, and formed a closed-loop management; implemented special assessment and incentives, and the relevant attack team has signed the "military order", and the winners are rewarded and the losers are punished, so as to stimulate the "spirit" of full dedication, enterprising, and the necessity to fight and win. "The team signed a special assessment and incentives.
SAIC said that in the first half of the year, SAIC sold 372,000 units of new energy vehicles, ranking second among Chinese automobile enterprises, and has maintained a “month-on-month increase” since January. 91,000 units of new energy vehicles were sold in July, hitting a new record high for the year, and the third quarter will be a sprint to “100,000 units sold per month”. “In July, SAIC sold 91,000 units of new energy vehicles, another yearly high, and will strive to sell 100,000 units per month in the third quarter.
SAIC also revealed the subsequent product development plan
summary as follows:
In the third quarter of this year, the LS6 will be equipped with an 800V silicon carbide electric axle, with an acceleration performance that is said to be “comparable to that of a million-grade supercars”, and a charging capacity of 200 kilometers in 5 minutes; subsequent to this, the autonomous tram will easily enter the “2-second acceleration club”.
In 2024, SAIC will promote large-scale mass production of solid-state battery technology, which is said to have “doubled energy density, higher safety performance, and lower cost”.
In 2024, “Vehicle Central Coordinated Motion Controller (VMC)” will be mass-produced, enabling vehicles to maintain body stability under different driving modes and complex road conditions.
By 2025, “Centralized Computing + Regional