SAIC MOTOR(SH:600104) Xin Lang Cai Jing·2025-11-04 06:23Core Insights - The company reported a significant increase in sales for October 2025, with wholesale sales reaching 454,000 units, representing a year-on-year growth of 13.0% and a cumulative sales figure of 3.647 million units for the first ten months, up 19.5% year-on-year [1][2] Sales Performance - In October 2025, the sales breakdown by brand showed SAIC Volkswagen sold 94,000 units (down 4.5% year-on-year), SAIC General sold 53,000 units (up 37.8%), SAIC Passenger Vehicles sold 93,000 units (up 24.0%), SAIC-GM Wuling sold 168,000 units (up 35.2%), and SAIC New Energy sold 207,000 units (up 42.5%) [1][2] - Cumulatively, for the first ten months of 2025, SAIC New Energy sales reached 1.29 million units, reflecting a substantial year-on-year increase of 42.5% [2] Strategic Partnerships - The company launched the H5 SUV in collaboration with Huawei, which has received a positive market response. The vehicle features advanced technology such as the HarmonyOS cockpit and Huawei's ADS 4 driving assistance system [3] Management Changes - The company is undergoing significant management changes as part of its state-owned enterprise reform, with a focus on domestic market and new energy vehicle development. The new management team is younger and emphasizes resource integration and collaboration [4] Financial Projections - The company is expected to benefit from state-owned enterprise reforms and its partnership with Huawei, with projected revenues of 687.8 billion, 722.1 billion, and 776.2 billion yuan for 2025-2027, and net profits of 12.41 billion, 14.28 billion, and 16.85 billion yuan respectively [4]