Saic Motor Corporation Limited(600104) cultivated hydrogen energy “dark horse” is expected to be split and landed on the science and innovation board.
on the afternoon of May 20, Saic Motor Corporation Limited(600104) held the 2021 annual general meeting of shareholders. The general meeting of shareholders deliberated and approved the relevant proposal of the company to spin off hydrogen jet technology focusing on the industrialization of hydrogen fuel cells to be listed on the science and innovation board
Chen Hong, chairman of Saic Motor Corporation Limited(600104) said at the meeting that Saic Motor Corporation Limited(600104) must adhere to the “long-term principle”. The company will continue to increase investment in key areas such as new energy and intelligent Internet connection, as well as chips, adhere to improving key core capabilities, accelerate the digital transformation, and let the capital market see a “new SAIC”.
promote “pure electric, hybrid, fuel cell”
three technical routes
According to the general meeting of shareholders, Saic Motor Corporation Limited(600104) 2021 saw the wholesale sale of 5.464 million vehicles and the terminal retail sales reached 5.811 million, with a year-on-year increase of 5.5%. The sales volume of complete vehicles remained the first in China for 16 consecutive years. In 2021, the company achieved a total operating revenue of 779.85 billion yuan, a year-on-year increase of 5.1%; The overall gross profit margin of the company increased by 0.62 percentage points; The net profit attributable to shareholders of listed companies reached 24.53 billion yuan, a year-on-year increase of 20.1%.
Independent brands, new energy vehicles and overseas operations have become the “new troika” driving Saic Motor Corporation Limited(600104) growth. SAIC’s own brand vehicle sales reached 2.857 million, an increase of 10% year-on-year, accounting for more than 50% of the company’s total sales for the first time; 733000 new energy vehicles were sold, with a year-on-year increase of 128.9%; Overseas sales reached 697000 vehicles, with a year-on-year increase of 78.9%. The export of complete vehicles has remained the first in China’s industry for six consecutive years, and six “50000 vehicle level” regional markets have been formed in Europe, Australia and New Zealand, the Americas, the Middle East, ASEAN and South Asia.
Chen Hong introduced that under the background of “double carbon” strategy, the development of new energy vehicles is ushering in important opportunities. On the one hand, Saic Motor Corporation Limited(600104) will vigorously promote the core capacity building and product planning and layout of the three technical routes of “pure electricity, hybrid and fuel cell”; On the other hand, Saic Motor Corporation Limited(600104) will accelerate the integrated development of electrification and intelligent networking, build the car into a “big terminal” integrating transportation, communication, entertainment, office, social networking and other functions, and drive the co construction of new retail, entertainment and social networking, travel services, network security and other ecological forms, as well as the synchronous development of digital transformation of cities such as smart traffic management and smart city operation.
jiehydrogen technology will be split and landed on the science and innovation board
The shareholders’ meeting also deliberated and approved the relevant proposals on the company’s spin off of jiehydrogen technology to be listed on the science and innovation board Saic Motor Corporation Limited(600104) introduction: through this spin off, not only the market-oriented development of hydrogenation technology will be accelerated, but also the company has taken an important step in deepening the reform of system and mechanism. In the future, the accelerated innovation and development of jiehydrogen technology will also help to improve SAIC’s comprehensive competitiveness and the overall interests of shareholders.
Shanghai jiehydrogen Technology Co., Ltd. (hereinafter referred to as “jiehydrogen technology”), which focuses on the industrialization of hydrogen fuel cells, was founded in 2018. Jiehydrogen technology currently provides fuel cell products and engineering services for the industry. It has completed the development of a variety of fuel cell stacks and fuel cell systems, with a power of 6kW ~ 260kw. It is widely used in passenger cars, light buses, city buses, highway buses, light, medium and heavy trucks, locomotives, forklifts Trailer and many other fields, and can be extended to distributed power generation, cogeneration, ship, aviation and other non vehicle fields.
In October 2021, JHT launched the first hydrogen fuel cell stack platform – M4 stack platform. At the same time, the first fuel cell stack based on the platform, the hydrogen ignition m4h, and the fuel cell system, the hydrogen ignition P4H and p4l, appeared simultaneously. Among them, the degree of autonomy and localization rate of m4h stack have reached 100% Saic Motor Corporation Limited(600104) relevant people said that the core performance indicators of the above products and technologies have been comparable to the world’s top level. It is expected that by the end of 2022, the supply of independent fuel cell stacks / systems of hydrogen jet technology will exceed 4000 sets / set
SAIC strives to produce and sell in May
close to the same period last year
According to the shareholders’ meeting, Saic Motor Corporation Limited(600104) is actively promoting the resumption of work and production and the rapid recovery of production capacity. In the first quarter of 2021, the sudden local epidemic seriously disrupted the production and marketing rhythm of the company. Since mid March, Saic Motor Corporation Limited(600104) affiliated enterprises have successively started closed-loop operation. Especially in the middle and early ten days of April, with the shutdown of supply chain and the interruption of logistics in Jiangsu, Zhejiang and Shanghai, the company suffered a lot of production losses. However, while ensuring the epidemic prevention safety of 35000 employees in the closed plant, the company actively promoted the resumption of work and production, and spared no effort to contribute to the fight against the epidemic in Shanghai.
On the premise of strict epidemic prevention, Saic Motor Corporation Limited(600104) is accelerating the key work such as personnel return, supply chain recovery and logistics connection. At present, SAIC’s vehicle base in Shanghai has realized single shift production, and the production capacity is also recovering rapidly. We strive to make the production and sales in May as close as possible to the level of the same period last year , and strive to reduce the loss and impact caused by the epidemic. In addition, due to full preparation, SAIC has abundant cash reserves, and key innovation projects will continue to be invested and accelerated.
“At present, the chip shortage this year has improved compared with last year, but the overall supply is still tight.” With regard to the impact of “lack of core” in automobiles and SAIC’s layout in chip localization, Chen Hong said that under the current situation of repeated epidemic and unstable supply chain, various automobile enterprises are still sparing no effort to grab chips, strengthen resource reserves, speed up multi-point layout, and vigorously promote the localization and replacement of vehicle specification chips.
Chen Hong revealed that Saic Motor Corporation Limited(600104) will establish the customization capacity of Saic Motor Corporation Limited(600104) chips by expanding the landing of mature chips, implementing key projects and improving the industrial ecosystem
