SAIC MOTOR(SH:600104) Ge Long Hui A P P·2026-01-09 08:02Core Viewpoint - The report from Aijian Securities highlights that SAIC Motor Corporation is experiencing significant innovation effects driven by the new product cycle in smart technology and international expansion, with a projected sales target of 4.507 million vehicles in 2025, representing a year-on-year increase of 12.3% [1] Group 1: Sales and Market Performance - The company aims to achieve terminal retail sales of 4.67 million vehicles, exceeding wholesale figures, with improvements in channel inventory and terminal sales [1] - SAIC General anticipates that the sales proportion of new energy vehicles will exceed 50% by 2026 and rise to 60% by 2027, while the number of fuel vehicle models will be reduced to approximately 8 [1] Group 2: Innovation and Production Strategy - The company has established three major R&D innovation centers in London and four production bases in Thailand, Indonesia, India, and Pakistan [1] - Over the next three years, the company plans to launch 17 new models for overseas markets, accelerating local manufacturing and channel development in Malaysia and Europe [1] Group 3: Strategic Outlook - The company is actively promoting the transition to electric and intelligent vehicles from a top-down approach and is strengthening external collaborations, maintaining a "buy" rating [1]