SAIC MOTOR(SH:600104)2023-04-28 16:00Financial Performance - Total revenue for 2022 was ¥744.06 billion, a decrease of 4.59% compared to 2021[18]. - Net profit attributable to shareholders was ¥16.12 billion, down 34.30% from the previous year[18]. - The net profit after deducting non-recurring gains and losses was ¥8.99 billion, a decline of 51.59% year-on-year[18]. - Operating cash flow net amount was ¥9.50 billion, a decrease of 56.03% compared to 2021[18]. - Total operating income was ¥720.99 billion, down 5.12% from 2021[18]. - Basic earnings per share decreased by 33.96% to CNY 1.400 in 2022 from CNY 2.120 in 2021[20]. - The weighted average return on equity fell by 3.35 percentage points to 5.84% in 2022 from 9.19% in 2021[20]. - The company reported a significant loss of CNY 1.65 billion in Q4 2022 for net profit after deducting non-recurring gains and losses[23]. - The company achieved a net profit of 16,117,549,650.39 RMB for the year, with dividends representing 24.04% of this profit[116]. Revenue and Sales - Total revenue for Q4 2022 was CNY 216.65 billion, showing a significant increase compared to Q3 2022's CNY 211.42 billion[23]. - The total revenue for the first three quarters of 2022 was CNY 522.66 billion, indicating a challenging year overall[23]. - The company achieved total vehicle sales of 5.303 million units in 2022, maintaining the top position in the country for 17 consecutive years[28]. - Sales of self-owned brand vehicles reached 2.785 million units, accounting for 52.5% of total sales; new energy vehicle sales increased by 46.5% year-on-year to 1.073 million units[28]. - Overseas sales reached 1.017 million units, a year-on-year increase of 45.9%, with the company being the first in China to achieve annual sales of "one million" in both new energy and overseas markets[28]. Operational Efficiency - The company did not face any significant operational risks during the reporting period[6]. - There were no non-operating fund occupations by controlling shareholders or related parties[5]. - The company experienced a decline in sales volume due to supply chain disruptions and increased competition, impacting profitability[21]. - The total production volume for the company was 5,323,722 units, a decrease of 2.74%, while sales volume was 5,302,644 units, down 2.94%[41]. - The automotive manufacturing cost was ¥651.70 billion, a decrease of 5.10% from the previous year, accounting for 99.30% of total costs[42]. Research and Development - Total R&D investment for 2022 reached ¥20,866,192,927.48, accounting for 2.89% of operating revenue[48]. - The company increased R&D expenses by 8.33% to ¥18,030,919,437.98 compared to the previous year[47]. - The company established the "SAIC Group Innovation Research and Development Institute" to enhance its core capabilities and accelerate the development of its proprietary brands[50]. - The company is actively pursuing technological advancements in solid-state batteries, 800V high voltage systems, and artificial intelligence applications[33]. Strategic Initiatives - The company plans to enhance its overseas sales to 1.2 million vehicles, accounting for over 20% of total sales[85]. - The company is actively exploring strategic investments in sectors such as new energy, semiconductors, and advanced manufacturing to enhance profitability[29]. - The company launched its first high-end smart electric vehicle, the L7, in June 2022, marking a significant step in its electric vehicle strategy[50]. - The company is focusing on digital transformation and innovation to strengthen its core capabilities in electric and intelligent connected vehicles[84]. Governance and Management - The company held 1 shareholders' meeting in 2022, ensuring equal rights for all shareholders through both on-site and online voting methods[88]. - The board of directors consists of 7 members, including 3 independent directors, and held 6 meetings during the reporting period[88]. - The company has a stable management team with no significant changes in board members during the reporting period[96]. - The total pre-tax remuneration for the board members and senior management during the reporting period amounted to CNY 35.31 million[93]. Environmental Responsibility - The company invested ¥53,251,000 in environmental protection during the reporting period[122]. - The total approved discharge of major pollutants included 1,821 tons of COD, 149 tons of NH3-N, 460 tons of NOx, and 75 tons of SO2, with actual emissions significantly lower at 148 tons, 7 tons, 64 tons, and 5 tons respectively[124]. - The company has implemented a comprehensive environmental management system to enhance compliance with environmental regulations[131]. - The company has committed to integrating environmental protection into its long-term business development plans[130]. Financial Health - The company's current ratio decreased by 5.65% from 1.1343 in 2021 to 1.0702 in 2022[194]. - The debt-to-asset ratio increased from 64.14% in 2021 to 66.03% in 2022, an increase of 2.95%[194]. - The interest coverage ratio dropped by 45.31%, from 20.2493 in 2021 to 11.0753 in 2022, primarily due to a 29.51% decrease in earnings before interest and taxes[194]. - The company has no impairment provisions for entrusted loans, indicating a stable financial position[173]. Shareholder Engagement - The total number of ordinary shareholders as of the end of the reporting period is 233,175, a decrease from 233,637 in the previous month[177]. - The company has a comprehensive cash dividend policy that complies with its articles of association and shareholder resolutions[114]. - The company provided cash dividends of 3.37 RMB per 10 shares, totaling 3,873,908,518.85 RMB[115]. - The company has no significant changes in the controlling shareholder or actual controller during the reporting period[182].