SAIC 2026 H1 Revenue RMB294.99B, Net Profit RMB5.15B Down 14.38%

SAIC Motor released its 2026 interim report on the evening of August 28. In the first half, the company achieved consolidated total operating revenue of RMB298.65 billion, of which operating revenue was RMB294.99 billion, up 0.22% year on year. Net profit attributable to shareholders of the listed company was RMB5.15 billion, down 14.38% year on year. Basic earnings per share stood at RMB0.451. Core net profit attributable to shareholders, excluding exchange and impairment effects, was RMB7.87 billion, up 72% year on year. The company's gross margin was 12.6%, up 3 percentage points from the same period in 2025. Net cash flow from operating activities reached RMB54.3 billion, up 158% year on year.

During the reporting period, the company achieved wholesale vehicle sales of 2.045 million units and retail sales of 2.075 million units, making it the only Chinese automaker to surpass the 2 million unit mark in the first half. Among these, self-owned brand sales reached 1.469 million units, up 12.6% year on year, accounting for 71.8% of total vehicle sales, an increase of 8.3 percentage points from the same period in 2025. New energy vehicle sales totaled 796,000 units, up 23.1% year on year. Overseas market sales reached 735,000 units, up 48.7% year on year. By brand, the MG4 family maintained monthly sales above 10,000 units, while the new Shangjie models Z7 and Z7T exceeded 10,000 units in monthly deliveries shortly after launch. Following the launch of the Zhiji LS8, Zhiji brand sales doubled in the first half. SAIC-GM-Wuling's Bingo and other key models performed steadily, and the Huajing S topped the plug-in hybrid large SUV sales chart.

In the joint venture segment, SAIC Volkswagen concentrated on launching new energy models such as the ID. ERA 9X and AUDI E7X, covering extended-range, hybrid, and pure electric markets. SAIC-GM's new energy vehicle sales grew by more than 80% in the first half, and the Buick Zhijing E7 became the best-selling new energy model among joint venture brands in its first month on the market. In addition, SAIC and Audi signed a strategic cooperation agreement and established the Audi Innovation Technology Center to jointly develop multiple luxury intelligent electric products for the Chinese market. In overseas expansion, the company deepened its presence in traditional markets such as Europe while expanding into emerging markets including Central Asia and Africa, and continued to advance localized production. Overseas localized parts bases reduced production costs and improved delivery efficiency, while regional service centers strengthened after-sales support. With new vessels such as the Anji Jisheng entering service, annual ocean shipping capacity exceeded 600,000 vehicles, with routes covering major global markets. The company also strengthened financial empowerment through measures such as establishing a captive insurance company and launching dedicated overseas financial service solutions.

In technology, semi-solid-state battery technology has been applied in mass production across multiple SAIC models, and the MG4 family equipped with second-generation semi-solid-state batteries has been launched. Self-developed steer-by-wire technology has been installed in mass production on the Zhiji LS9 and LS8. Advanced driver assistance technology has been applied to models such as the AUDI E7X. Roewe released the first AI-native vehicle, the Jiayue 07, which received over 11,000 orders within seven days of blind booking. SAIC's Robotaxi cumulative orders exceeded 420,000, with driving mileage surpassing 8 million kilometers. The company established the SAIC Chassis Innovation Center to accelerate the implementation of core technologies such as intelligent braking and intelligent suspension, and invested in embodied intelligence and artificial intelligence startups, with multiple robots already deployed in production lines.