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saicmotor.com

Founded Year

1958

Stage

IPO | IPO

Date of IPO

11/25/1997

About SAIC Motor

SAIC Motor (SH: 600104) engages in auto development, auto component, auto e-commerce, and other auto businesses.

SAIC Motor Headquarter Location

489 Weihai Road

Shanghai, Shanghai, 200041,

China

+86-021-22011888

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SAIC Motor Patents

SAIC Motor has filed 4 patents.

The 3 most popular patent topics include:

  • Acoustics
  • Automobile transmissions
  • Automotive transmission technologies
patents chart

Application Date

Grant Date

Title

Related Topics

Status

5/14/2020

7/20/2021

Engine technology, Acoustics, Internal combustion piston engines, Frequency domain analysis, Combustion

Grant

Application Date

5/14/2020

Grant Date

7/20/2021

Title

Related Topics

Engine technology, Acoustics, Internal combustion piston engines, Frequency domain analysis, Combustion

Status

Grant

Latest SAIC Motor News

SAIC Buys Majority Stake in Auto Finance Firm Dongzheng AFC for USD237 Million SAIC Buys Majority Stake in Auto Finance Firm Don...

May 20, 2022

(Yicai Global) May 20 -- China’s biggest automaker SAIC Motor bought a 71 percent stake in automobile finance firm Shanghai Dongzheng Auto Finance Company for CNY1.6 billion (USD237 million) through a judicial auction. SAIC, which was the sole bidder, yesterday won the auction the Shanghai Financial Court launched for the underlying assets on April 16, the Shanghai-based company announced late yesterday. The deal will be subject to regulatory approval. After the regulatory approval, SAIC Motor will own two auto finance companies: SAIC-GMAC Automotive Finance and Dongzheng AFC. “The acquisition of a controlling stake in Dongzheng AFC is conducive to the cooperation between both companies at the business level,” SAIC Motor said. After the transaction, the carmaker can provide a wide range of customer resources for Dongzheng AFC, it added, noting that the acquisition will also help the development of SAIC’s auto finance business. Shares of SAIC [SHA: 600104] were trading up 1.4 percent at CNY16.76 (USD2.49) as of today’s lunch break. Dongzheng AFC [HKG: 2718] suspended trading yesterday, after closing at HKD1 (13 US cents) on May 18. The stock has risen as much as 40 percent since the launching of the auction on April 16. Founded in 2015, Shanghai-based Dongzheng AFC is one of the 25 authorized auto finance companies in China and it was focused on providing financial services to its then controlling shareholder, auto dealer China Zhengtong Auto Services Holdings, SAIC noted. Dongzheng AFC was put out for auction after the Shanghai branch of the China Banking and Insurance Regulatory Commission ruled that Zhengtong Auto Services was to sell all its assets in Dongzheng AFC as it improperly obtained regulatory approval to establish the auto finance firm by improper means and used the unit as a channel to pump interests back to the parent through various related-party transactions. Dongzheng AFC’s revenue slumped over 45 percent to CNY316 million (USD47 million) in 2021 from a year earlier. Net loss was CNY840 million, versus a net profit of CNY54.98 million (USD8.2 million) in the period. Zhengtong’s stock price [HKG: 1728] was trading up 5.6 percent at 57 Hong Kong cents (7 US cents) as of 11.55 a.m. Hong Kong time today. Editor: Tang Shihua, Futura Costaglione Follow Yicai Global on RELATED

SAIC Motor Web Traffic

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SAIC Motor Rank

  • When was SAIC Motor founded?

    SAIC Motor was founded in 1958.

  • Where is SAIC Motor's headquarters?

    SAIC Motor's headquarters is located at 489 Weihai Road, Shanghai.

  • What is SAIC Motor's latest funding round?

    SAIC Motor's latest funding round is IPO.

  • Who are the investors of SAIC Motor?

    Investors of SAIC Motor include SEB Venture Capital, Industrifonden and Neomed Management.

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