On August 27, SAIC Released its performance report for the first half of 2020. Data show that in the first half of this year, SAIC realized a total revenue of 283.74 billion yuan, down 24.6% year on year. Net profit attributable to mother reached 8.394 billion yuan, down 39.01% year-on-year; After deducting non-recurring gains and losses, net profit attributable to mother was 7.176 billion yuan, a year-on-year decline of 42.57%.

      It is clear that the epidemic in the first half of this year has had a significant impact on SAIC. According to the report, coVID-19 has had a huge impact on the global auto industry, and the domestic auto market has seen a deep downturn. However, with the effective control of the epidemic in China and the introduction of a series of "steady growth and consumption promotion" policies by the central and local governments, the car market has seen a month-on-month increase in sales since the second quarter.

      From the comparison between the first quarter and the second quarter, saic realized a huge increase of 101.8% in vehicle sales in the second quarter compared with the first quarter, which also drove the synchronous growth of revenue and net profit in the second quarter. In the second quarter of this year, SAIC realized a total operating revenue of 177.794 billion yuan, and its net profit rose to 7.273 billion yuan from 1.21 billion yuan in the first quarter, a year-on-year increase of 31.92% and a quarter-on-quarter increase of 6.5 times.

      In total, in the first half of this year, SAIC realized vehicle sales of 2.049 million, down 30.2% year-on-year. Among them, 1.63 million passenger vehicles were sold, down 35.8% year-on-year, while 419,000 commercial vehicles were sold, up 5.0% year-on-year. In terms of new-energy vehicles, a total of 58,000 new vehicles were sold, outpacing the overall new-energy vehicle market by about 12 percentage points. In the overseas market, SAIC realized vehicle export and overseas sales of 132,000 vehicles in the first half of the year, including overseas sales of 79,000 vehicles under its own brands, up 17.3% year on year. The company continues to rank first in terms of vehicle export sales in China.