On April 29, Saic Motor Corporation Limited (Securities Code: 600104) announced its financial report for the first quarter of 2026. During the January to March period, the company actively responded to adverse factors such as market adjustments and rising raw material costs, achieving a strong start to the year with positive operational results. Saic Motor sold 973,000 vehicles in wholesale terms, a 3% year-on-year increase, maintaining its leading position in the domestic market and becoming the only automaker in China to exceed one million retail sales in the first quarter.
The company reported revenue of 138.52 billion yuan, up 0.61% compared to the same period last year. Net profit attributable to shareholders reached 3.03 billion yuan, a slight increase of 0.09%. Net cash flow from operating activities surged to 31.99 billion yuan, reflecting a substantial growth of 699.67%. Despite significant pressure on both supply and demand sides of the market, Saic Motor achieved stable and improved performance by advancing comprehensive reforms, prioritizing innovation and quality enhancement, and strengthening management efficiency.
The company's proprietary brands emerged as the primary growth drivers. Sales of Saic Motor Passenger Vehicle increased by 40.4% year-on-year, while IM Motors saw a remarkable surge of 96.9%. Maxus sales also grew by 14.3%. Popular new energy vehicle models contributed significantly to this growth; for instance, the MG4 achieved monthly sales exceeding 10,000 units for six consecutive months. The IM LS8 received over 8,000 orders within one hour of its launch, and the Z7 from the new brand secured 12,000 orders in just 27 minutes.
Overseas markets also demonstrated robust performance, with sales reaching 325,000 units, a 48.3% increase from the previous year. In Europe alone, sales totaled 90,000 vehicles, up 20% year-on-year. The solid performance in the first quarter underscores the effectiveness of Saic Motor's comprehensive reform initiatives and accelerated innovation-driven transformation. From the strong performance of its proprietary brands to rapid expansion in international markets, and from the successive launch of popular new energy models to the revitalization of joint venture brands, Saic Motor is reinforcing its stable and progressive growth trajectory through systematic product planning and technological implementation.
At the Beijing International Automotive Exhibition, which opened on April 24, Saic Motor showcased its theme "Understanding Cars, Understanding You," featuring more than 10 brands, over 100 exhibit vehicles, and more than 10 debut models. Highlights included the Roewe Jia Yue 07 concept car, the 2026 MG4, the IM LS8, the Z7, the Volkswagen ID. ERA 9X, the Audi E7X, the Buick Zhi Jing E7, the Wuling Hua Jing S, and the Wuling Xing Guang L, all of which garnered significant market attention. With a pipeline of new intelligent and electric vehicles set for release and continued benefits from ongoing reforms, Saic Motor is poised to begin the next five-year plan with a solid foundation for high-quality development.
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