SAIC MOTOR(SH:600104) 3 6 Ke·2025-08-27 11:12Core Insights - The launch of the Shangjie H5 has begun with a pre-sale price starting at 169,800 yuan, receiving over 25,000 small orders within the first hour, boosting internal confidence in achieving sales targets [1][3] - SAIC and Huawei have set a monthly sales target of 20,000 units for the Shangjie H5, with a yearly production plan of 400,000 units [1][2] - The Shangjie brand plans to release two additional models next year, including a sedan and an SUV, with the SUV expected to launch in the first half of the year [1] Production and Delivery - SAIC has established a dedicated factory for Shangjie in Lingang and acquired part of the production lines from the SAIC-GM Jinqiao factory to ensure sufficient production capacity [1][2] - The sales strategy includes utilizing both the Hongmeng Smart Travel user center and a dedicated user center created by SAIC and Huawei, forming a dual-channel service system [1] Market Response and Expectations - The capital market has shown enthusiasm for the Shangjie brand, with SAIC's stock price rising by 10% following the announcement of the Shangjie H5 pre-sale [2] - The vehicle is positioned in the mid-sized new energy SUV market, offering both range-extended and pure electric powertrains, with a comprehensive range of 1,360 km for the range-extended version [3][4] Competitive Landscape - The success of the Shangjie H5 will be tested in the price-sensitive market segment below 200,000 yuan, where value for money is crucial for consumers [5][6] - Other SAIC brands, such as Zhiji and MG, are also attempting to penetrate the market with competitive pricing and features, indicating a broader strategy for market recovery [9][11] Conclusion - The combined efforts of SAIC and Huawei in launching the Shangjie H5 reflect a significant push into the competitive mid-range electric vehicle market, with high expectations for sales performance and market impact [10][12]