Orient Securities's recent research report pointed out that the profitability of SAIC Motor Group's own brands has improved dramatically, and exports are an important profit growth point. The company's net profit for the first half of the year was 5.152 billion yuan, a year-on-year decrease of 14.4%; net profit to mother for the second quarter was 2.126 billion yuan, -29.0%/-29.7%, respectively. The company's autonomy, new energy, and overseas sales all performed well in the first half of the year, which led to a significant improvement in the company's operating profit. Domestic and overseas sales of independent brands have increased significantly, supporting significant improvements in independent profitability. Overseas sales are expected to be an important profit growth point. After the company's organizational structure is adjusted, it is expected that the profit of bicycle exports will increase. Overseas sales will grow rapidly throughout 2026, and the overseas market will become an important growth pole for sales and profits. The bank predicts EPS for 2026-2028 at 1.01 yuan, 1.06, and 1.09 yuan respectively (originally 1.09, 1.16, and 1.26 yuan, adjusted gross margin and expense ratio, etc.), maintaining a comparable company's average valuation of 16 times PE and a target price of 16.16 yuan, maintaining a “buy” rating.

Orient Securities's recent research report pointed out that the profitability of SAIC Motor Group's own brands has improved dramatically, and exports are an important profit growth point. The company's net profit for the first half of the year was 5.152 billion yuan, a year-on-year decrease of 14.4%; net profit to mother for the second quarter was 2.126 billion yuan, -29.0%/-29.7%, respectively. The company's autonomy, new energy, and overseas sales all performed well in the first half of the year, which led to a significant improvement in the company's operating profit. Domestic and overseas sales of independent brands have increased significantly, supporting significant improvements in independent profitability. Overseas sales are expected to be an important profit growth point. After the company's organizational structure is adjusted, it is expected that the profit of bicycle exports will increase. Overseas sales will grow rapidly throughout 2026, and the overseas market will become an important growth pole for sales and profits. The bank predicts EPS for 2026-2028 at 1.01 yuan, 1.06, and 1.09 yuan respectively (originally 1.09, 1.16, and 1.26 yuan, adjusted gross margin and expense ratio, etc.), maintaining a comparable company's average valuation of 16 times PE and a target price of 16.16 yuan, maintaining a “buy” rating.