SAIC 2026 Interim Report: Revenue, Profit and Sales Update

H1 2026 Financial Performance and Vehicle Sales

SAIC Motor Corporation Limited reported CNY 298.65 billion in consolidated operating revenue for the first half of 2026, down 0.3% year-over-year, according to its August 28 interim report. Gross profit margin rose to 12.6%, an increase of 3 percentage points, while net profit attributable to owners of the parent declined 14.4% to CNY 5.15 billion. Core net profit, excluding foreign exchange and impairment effects, increased 72% to CNY 7.87 billion. Operating cash flow reached CNY 54.3 billion, up 158%, while R&D expenses were CNY 8.11 billion, down 0.7% year-over-year.

Sales Mix and Brand Performance

Amid stronger industry competition and pressure on domestic demand, the company improved profitability through changes to its production and sales mix and tighter cost control. In H1 2026, total vehicle sales reached 2,045,375 units, a 0.4% year-over-year decline, making it the only Chinese automaker to exceed 2 million vehicle sales during the period. Self-owned brands accounted for 1.469 million units, up 12.6% and representing 71.8% of total sales, an increase of 8.3 percentage points. New energy vehicle sales rose 23.1% to 796,000 units, while overseas sales climbed 48.7% to 735,000 units.

The company accelerated product launches across its own brands and joint ventures during the first half. Monthly sales of the MG4 family repeatedly exceeded 10,000 units, while deliveries of the new SAIC Shangjie Z7 and Z7T also surpassed 10,000 units per month after launch. IM Motors Technology Co., Ltd. introduced the LS8, expanding its intelligent electric vehicle lineup, and its sales doubled during the period. The commercial vehicle business continued strengthening its position in light-duty vans, light-duty trucks, and pickups, with operating performance improving across these segments.

SAIC-GM-Wuling Automobile Co., Ltd. maintained steady demand for models such as the Bingo, while the Huajing S led sales among large plug-in hybrid SUVs and supported the brand's move toward higher-value products. SAIC Volkswagen Automotive Co., Ltd. introduced new energy models including the ID. ERA 9X and AUDI E7X, covering range-extended, hybrid, and battery-electric segments. SAIC General Motors Corporation Limited increased NEV sales by more than 80% year-over-year in H1 2026. The company also signed a strategic cooperation agreement with AUDI AG to establish the AUDI Innovation & Technology Center and jointly develop premium intelligent electric models for the Chinese market.

Overseas Expansion and Localization

Overseas expansion remained another major growth area, with the company reinforcing its position in Europe while entering emerging markets in Central Asia and Africa. It continued developing localized production through joint ventures, wholly owned facilities, contract manufacturing, and other arrangements. Multiple knock-down plants have been established in Kazakhstan and other markets, while construction began on a production base in Spain. The company also expanded overseas localized parts production to lower manufacturing costs and improve delivery efficiency, while regional service centers strengthened its end-to-end after-sales support capabilities.

Technology Commercialization and Intelligent Mobility

Technology commercialization advanced across batteries, vehicle control, driver assistance, artificial intelligence, and manufacturing automation. Semi-solid-state battery technology entered mass production and was deployed across multiple models, with cumulative deliveries of the MG4 family using the second-generation semi-solid-state battery exceeding 5,000 units. In-house steer-by-wire technology entered mass production on the IM LS9 and LS8, while advanced driver assistance systems continued expanding into models such as the AUDI E7X. Roewe also launched the Jiayue 07, its first AI-native vehicle, integrating large AI models with vehicle architecture; blind orders exceeded 11,000 units within seven days.

The company is also expanding intelligent mobility and manufacturing capabilities. Its Robotaxi service has accumulated more than 420,000 orders and traveled over 8 million kilometers, while the newly established chassis innovation center is accelerating technologies such as intelligent braking and intelligent suspension. In parallel, the company has increased investment in technology and innovation companies focused on areas including embodied intelligence and artificial intelligence. Multiple robot models have already been deployed on production lines, supporting the broader adoption of intelligent equipment in automotive manufacturing and extending automation beyond conventional production processes.

Frequently Asked Questions

What were the key financial results in SAIC Motor's first half of 2026?
The company reported CNY 298.65 billion in consolidated operating revenue, down 0.3% year-over-year, while gross profit margin increased to 12.6%. Net profit attributable to owners of the parent fell 14.4% to CNY 5.15 billion, but core net profit excluding foreign exchange and impairment effects rose 72% to CNY 7.87 billion. Operating cash flow increased 158% to CNY 54.3 billion, indicating stronger cash generation despite relatively stable revenue and continued pressure from competition and domestic demand.

How did vehicle sales and overseas operations perform in H1 2026?
Total vehicle sales reached 2,045,375 units, down 0.4% year-over-year, while self-owned brands increased sales 12.6% to 1.469 million units. NEV sales rose 23.1% to 796,000 units, and overseas sales increased 48.7% to 735,000 units. The company continued expanding localized manufacturing across Europe, Central Asia, and Africa, including production activities in Kazakhstan and construction of a production base in Spain. Overseas parts production and regional service centers were also expanded to improve cost efficiency, delivery performance, and after-sales support.