On April 29, SAIC Motor Group Co., Ltd. released its 2021 annual report and 2022 first quarter report.
In 2021, in the face of multiple severe challenges such as lack of cores, epidemic situation, power rationing and sharp increase in raw material prices, SAIC Motor went all out to ensure supply, stabilize growth, adjust structure and increase efficiency, and achieved a smooth start to the "14th Five-Year Plan". Vehicle sales were "steady and progressive", with 5.464 million vehicles in batches and terminal retail sales reaching 5.811 million units, an increase of 5.5% year-on-year, and vehicle sales remained the first in the country for 16 consecutive years. The economic benefits of "steady improvement of quality", the total operating income of 779.85 billion yuan, an increase of 5.1% year-on-year, the net profit attributable to the shareholders of the listed company was 24.53 billion yuan, an increase of 20.1% year-on-year, the weighted average return on net assets was 9.2%, an increase of 1.2 percentage points over the previous year, and the quality of economic operation was significantly improved. Transformation and upgrading "steady in the new", independent brands, new energy vehicles, overseas markets have become the "new troika" driving growth: in 2021, the sales of independent brand vehicles reached 2.857 million units, an increase of 10% year-on-year, accounting for the company's total sales for the first time exceeded 50%, reaching 52.3%; new energy vehicle sales of 733,000 units, an increase of 128.9% year-on-year, ranking first in China and the top three in the world; overseas sales reached 697,000 units, an increase of 78.9% year-on-year. Vehicle exports have remained the first in the domestic industry for six consecutive years. The company will continue to repay shareholders with "large-scale" dividends, and intends to pay a cash dividend of 6.82 yuan (including tax) for every 10 shares, a total of 7.847 billion yuan (including tax), and the company's total cash dividends in 2021 account for 35% of the net profit attributable to the parent company (including repurchases).
New progress has been made in major landmark innovation projects such as Zhiji Automobile
In 2021, the first batch of experience version products of L7, the first product of Zhiji Automobile, were officially rolled off the production line, and the company's new generation of three-electric system, as well as the "cloud-tube-end" full-stack solution such as intelligent car electronic architecture and service-oriented SOA software platform, achieved application landing.
Feifan Automobile accelerated the development of the first pure electric B-class SUV product R7 project, and explored and realized product customization, self-learning and self-growth through the combination of soft and hard, high and low selection, and data drive.
The first batch of 60 self-driving taxis in the Robotaxi project have launched demonstration applications in Shanghai and Suzhou, providing assistance for the company's L4 level autonomous driving technology to be mass-produced as soon as possible in the passenger car scenario.
The "5G+L4" smart heavy-duty truck project completed the annual transportation task of 40,000 TEUs and the "one tow four" formation driving in Yangshan Port, and the AIV (container intelligent transfer vehicle) project achieved batch demonstration operation, and established Shanghai Youdao Zhitu Technology Co., Ltd. to accelerate the commercialization of L4 level automatic driving technology in commercial vehicle scenarios such as ports, factories and trunk logistics.
The core capabilities of electric intelligent networking have been continuously improved, and the digital transformation has been solidly promoted
In terms of electrification, in 2021, SAIC will accelerate the development of fast-charging, quick-exchangeable and upgradable platform batteries and projects such as a new generation of electric axles, 800V electric drives and battery pack systems; Jie Hydrogen Technology released a new generation of fuel cell stack M4 and P4 system products, key performance parameters have ranked among the forefront of the world, built the world's first 10,000-unit "roll-to-roll" membrane electrode production line, the localization level of core components continued to improve, and jointly with SAIC Hongyan launched the world's first "10,000-vehicle level" in Ordos. Hydrogen energy heavy truck industry chain project; the company cooperates with domestic and foreign partners such as Qingtao to accelerate the research and development of solid-state battery products and the application of vehicles; the company also promotes the "vehicle-electricity separation" project through cooperation to accelerate the layout in the fields of power exchange, energy storage and lithium battery recycling. In terms of intelligent networking, the company grasps the development trend of "data determines experience, software-defined car", focuses on building five major centers of software, big data, artificial intelligence, cloud computing, network and data security, zero beam technology releases galaxy full stack 1.0 solution, and Lianchuang Electronics "6i" intelligent driving core components (intelligent steering system, intelligent braking system, intelligent driving decision control system, intelligent vehicle network terminal system, intelligent tire safety system, intelligent control system) to promote large-scale application. Zhonghaiting HIGH-precision electronic map became the first commercial product approved by the Ministry of Natural Resources of the People's Republic of China.
In addition, the company deepened cooperation with strategic partners such as Horizon and Momenta, and accelerated the implementation of the localization strategy of vehicle-level chips, with a total of 75 chips completed localization development and entered the mass production and application of the whole vehicle. The company also draws an investment strategic map, innovates the strategic direct investment model, focuses on strategic key areas such as new energy, intelligent network connection, and chips to make industrial investment, deepens the combination of industry and finance, and enhances the empowerment of innovation.
In terms of digital manufacturing, in 2021, the company continued to promote the construction of benchmarking factories, and the passenger car branch was selected as the fifth batch of "intelligent manufacturing benchmarking enterprises" in the country; the technology center used digital twin technology to build a digital research and development platform, which was rated as "100 Typical Cases of Digital Transformation of State-Owned Enterprises" by the State-owned Assets Supervision and Administration Commission of the State Council, and was selected as the fifth batch of national industrial design centers.
In terms of digital services, The ride-hailing business of Xiangdao Travel has fully covered the six major metropolitan agglomerations of "one core and five circles" in the Yangtze River Delta, with a platform compliance rate of more than 90%, and Shencheng Travel's "one-click ride-hailing smart screen" has covered more than 40 communities, hospitals and other public places in Shanghai. In terms of digital ecology, the company held the world's first automotive SOA developer conference, and joined hands with baidu, Alibaba, Tencent, Huawei, OPPO and dozens of other ecological partners to carry out cooperation in the fields of intelligent networking, network and data security, 5G empowerment, and automotive chips to create a smart car digital ecosystem and win-win future development.
In the first quarter of this year, production and sales "outperformed the market"
In the first quarter of this year, the company's sales volume, operating income, net profit and other major economic indicators continued to maintain a leading position in the industry. From January to March, SAIC achieved vehicle sales of 1.22 million units, an increase of 6.8% year-on-year, while actively preventing the epidemic, achieving production and sales "outperforming the market"; achieving total operating income of 182.47 billion yuan; and achieving a net profit attributable to shareholders of listed companies of 5.52 billion yuan.
In the face of the epidemic, SAIC regards epidemic prevention and anti-epidemic as the top priority, and takes active actions at the first time to provide logistical support for epidemic prevention and anti-epidemic and provide practical support for people's livelihood needs: the first time to produce and deliver more than 100 special vehicles for epidemic prevention, including negative pressure ambulances, nucleic acid testing vehicles, sample transfer vehicles, and disinfection vehicles; urgent construction and operation of a number of important material emergency supply transfer stations in the Yangtze River Delta, the implementation of closed-loop management and "contactless" delivery throughout the process, and the opening of freight "blood vessels" in the Yangtze River Delta region. Realize cross-regional interconnection of industrial chain supply chain materials; ensure the supply and distribution of more than 40,000 vegetables to citizens, and transport 4.5 million emergency relief materials; set up an epidemic prevention and security fleet to fully meet the travel needs of frontline medical personnel in Shanghai; SAIC employees in Shanghai take the initiative to sink the community and support the frontline, and actively participate in community epidemic prevention volunteer services for nearly 80,000 people.
At present, the epidemic situation in Shanghai is generally stable and improving, in order to comprehensively promote the prevention and control of the epidemic and economic and social development, SAIC Motor's SAIC Passenger Vehicles, SAIC Volkswagen, SAIC-GM, United Electronics, Anji Logistics and other vehicles, parts and components and logistics enterprises have completed the stress test of resuming work and production in key areas such as personnel support, supply chain guarantee, logistics guarantee, closed production management and epidemic prevention measures, and gradually resumed orderly production, which will effectively promote the comprehensive recovery of the automotive industry chain in the Yangtze River Delta region.
In 2022, SAIC motor will adhere to the general tone of "seeking progress in stability and the key is in progress" and continuously enhance the resilience and quality of economic operation. Strive to sell more than 6 million vehicles, an increase of more than 10% year-on-year; the growth rate of independent brand sales strives to reach more than 20%, accounting for more than 50% of the company's total sales; new energy vehicle sales exceed 1.1 million, the growth rate strives to exceed 50%; overseas sales exceed 800,000 vehicles, the growth rate strives to exceed 20%.
Author: Zhou Yuan
Editor: Zhang Yi
Editor-in-Charge: Rong Bing
*Wenhui exclusive manuscript, please indicate the source when reprinting.