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SAIC Motor (600104) investor relations material
SAIC Motor Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue for Q1 2026 reached RMB 140.42 billion, nearly flat year-over-year, with a slight decrease of 0.31%.
Net profit attributable to shareholders was RMB 3.03 billion, up 0.09% year-over-year.
Operating cash flow surged 699.67% year-over-year to RMB 31.99 billion, driven by improved vehicle sales and financial business cash flows.
Financial highlights
Operating income increased 0.61% year-over-year to RMB 138.52 billion.
Total profit rose 9.21% year-over-year to RMB 5.41 billion.
Net profit after deducting non-recurring items decreased 2.60% year-over-year.
Basic EPS was RMB 0.265.
Total assets at quarter-end were RMB 937.95 billion, down 2.32% from year-end 2025.
Outlook and guidance
Management highlighted continued improvement in vehicle sales and manufacturing business operations.
- Net profit soared 506% on robust NEV and export growth, with a 30% payout cash dividend proposed.600104
H2 20252 Apr 2026 - Revenue and profit declined, but new energy and overseas sales saw robust growth.600104
Q2 202422 Dec 2025 - Q3 profit fell 93.53% year-over-year as revenue and margins declined amid fierce price wars.600104
Q3 202422 Dec 2025 - Revenue steady, profit down, NEV and overseas sales up, strong cash flow, 2024 growth targeted.600104
Q4 202322 Dec 2025 - Revenue and profit declined sharply, but new energy vehicle sales hit record highs.600104
Q4 202422 Dec 2025 - Revenue up, NEV sales strong, but net profit down 9.21% year-over-year.600104
Q2 202522 Dec 2025 - Q3 net profit jumped 644.88% year-over-year on strong sales and cost control.600104
Q3 202531 Oct 2025 - Net profit surged 28% in Q1 2025 as vehicle sales rebounded and cash flow improved.600104
Q1 20256 Jun 2025
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