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SAIC MOTOR CORPORATION LIMITED Annual Report 2017

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SAIC MOTOR ANNUAL REPORT 2017 Company Code: 600104 Abbreviation of Company: SAIC SAIC MOTOR CORPORATION LIMITED Annual Report 2017 1 / 206 SAIC MOTOR ANNUAL REPORT 2017 Important Note 1. Board of directors (the "Board"), board of supervisors, directors, supervisors and senior management of the Company certify that this report does not contain any false or misleading statements or material omissions and are jointly and severally liable for the authenticity, accuracy and integrity of the content. 2. All directors attended Board meetings (Wang Fanghua (an independent director) attended board meetings on behalf of Xie Rong (a director) as Xie Rong was not available for board meetings due to business reason.). 3. Deloitte Touche Tohmatsu Certified Public Accountants LLP issued standard unqualified audit report for the Company. 4. Mr. Chen Hong, Chairman of the Board, Mr. Wei Yong, the chief financial officer, and Ms. Gu Xiao Qiong, Head of Accounting Department, certify the authenticity, accuracy and integrity of the financial statements contained in the annual report of the current year. 5. Plan of profit distribution or capital reserve capitalization approved by the Board The Company plans to distribute cash dividends of RMB 18.30 (inclusive of tax) per 10 shares, amounting to RMB 21,380,734,297.95 in total based on total shares of 11,683,461,365. The Company has no plan of capitalization of capital reserve this year. The cash dividend distribution for the recent three years accumulates to RMB 55,653,216,165.64 in total (including the year of 2017). 6. Risk statement of forward-looking description √Applicable □N/A The forward-looking description on future plan and development strategy in this report does not constitute substantive commitment to investors. Please note the investment risk. 7. Does the situation exist where the controlling shareholders and their related parties occupy the funds of the Company for non-operational use? No. 8. Does the situation exist where the Company provides external guarantee which is not in compliance with the required decision-making procedures? No. 9. Significant risk alert There are no significant risks which have substantive effects on Company's production and operation during the reporting period. The Company has described the possibly existing relevant risks exposure in the process of production and operation in this report. Relevant details can refer to "Possible Risks" in Section IV Discussion and Analysis for Operation. 10. Others □Applicable √ N/A 2 / 206 SAIC MOTOR ANNUAL REPORT 2017 Contents Contents Contents ......................................................................................................................................... 3 Section I Definitions ...................................................................................................................... 4 Section II General Information and Financial Indicators of the Company.................................... 5 Section III The Company's Business Overview ............................................................................ 9 Section IV Discussion and Analysis for Operation ..................................................................... 10 Section V Important Events ......................................................................................................... 23 Section VI Share Capital Changes and Information of Shareholders .......................................... 34 Section VII Preferred Stock Information..................................................................................... 38 Section VIII Directors, Supervisors, Senior Management and Employees ................................. 39 Section IX Corporate Governance ............................................................................................... 46 Section X Circumstances about Corporate Bonds ....................................................................... 51 Section XI Financial Statements ................................................................................................. 52 Section XII List of Documents Available For Inspection ......................................................... 206 3 / 206 SAIC MOTOR ANNUAL REPORT 2017 Section I Definitions I. Definition In this report, unless the context otherwise indicated, the following terms are defined as below: Definition of usual words CSRC Refers to China Securities Regulatory Commission SSE Refers to Shanghai Stock Exchange Shanghai State-owned Assets Shanghai SASAC Refers to Supervision and Administration Commission Company, the Company, the Group, SAIC Refers to SAIC Motor Corporation Limited Motor SAIC Refers to Shanghai Automotive Industry Corporation (Group) SAIC VOLKSWAGEN Refers to SAIC Volkswagen Automobile Co., Ltd. SAIC GM Refers to SAIC General Motors Co., Ltd. SAIC Motor Corporation Limited Passenger Vehicle SAIC Passenger Vehicle Refers to Branch SGMW Refers to SAIC GM Wuling Co., Ltd. SAIC Maxus Refers to SAIC Maxus Vehicle Co., Ltd. Shanghai Sunwin Refers to Shanghai Sunwin Bus Co., Ltd. IVECO Hongyan, SAIC-IVECO Hongyan Refers to SAIC-IVECO Hongyan Commercial Vehicle Co., Ltd. Nanjing Iveco Refers to Nanjing Iveco Automobile Co., Ltd. SAIC Motor-CP Refers to SAIC Motor-CP Co., Ltd. SAIC Indonesia Refers to SAIC-GM-Wuling Motor Indonesia HASCO Motor, HASCO Refers to HUAYU Automotive Systems Co., Ltd. SFC Refers to SAIC Finance Co., Ltd. SAIC-GMAC Refers to SAIC-GMAC Automotive Finance Co., Ltd. Anyo Charging Refers to Shanghai SAIC Anyo Charging Technology Co., Ltd. Car Sharing Technology Refers to Shanghai Car Sharing Technology Industry Co., Ltd. Global Car Sharing Refers to Global Car Sharing and Rental Co., Ltd. Zhonghaiting Refers to Wuhan Zhonghaiting Data Technology Co., Ltd. Anji Logistics Refers to Anji Automotive Logistics Co., Ltd. Anyo Energy-saving Refers to Shanghai Anyo Energy-saving Technology Co., Ltd. SAIC Insurance Sales Refers to SAIC Insurance Sales Co., Ltd. 4 / 206 SAIC MOTOR ANNUAL REPORT 2017 Section II General Information and Financial Indicators of the Company I. Information of the Company Legal company name in Chinese 上海汽车集团股份有限公司 Abbreviation of legal company name in Chinese 上汽集团 Legal company name in English SAIC Motor Corporation Limited Abbreviation of legal company name in English SAIC Motor Legal representative of the Company Mr. Chen Hong II. Contacts Secretary to the Board Securities affairs representative Name Ms. Wang Jianzhang Mr. Wei Yong No.489,Weihai Road, Jing'an No.489,Weihai Road, Jing'an Address District, Shanghai, China District, Shanghai, China Telephone number (021)22011138 (021)22011138 Facsimile number (021)22011777 (021)22011777 E-mail [email protected] [email protected] III. Basic information of the Company Room 509, No.1 Tower, No. 563 Songtao Road, Pilot Free Registration address Trade Zone, Shanghai, China Post code of registration address 201203 Office address No. 489 Weihai Road, Jing'an District, Shanghai, China Post code of office address 200041 Website http://www.saicmotor.com E-mail [email protected] IV. Information disclosure and the locations "Shanghai Securities News", "China Securities Designated newspapers for information disclosure Journal" and "Securities Times" Website designated by CSRC for the publication of http://www.sse.com.cn the Company's annual report The Company's annual report is available at Office of the Board V. Abbreviation of the Company's shares Abbreviation of the Company's shares Former short Class of shares Stock exchange Short name Stock code name Shanghai Stock Shanghai A shares SAIC MOTOR 600104 Exchange Automotive 5 / 206 SAIC MOTOR ANNUAL REPORT 2017 VI. Other relevant information Deloitte Touche Tohmatsu Name Certified Public Accountants LLP Information of the accounting F/30,Bund Center, No. 222 Yan An firm appointed by the Company Office address Road East, Shanghai (domestic) Signing Certified Public Yuan Shouqing, Ma Tiantian Accountant Name Guotai Junan Securities Co., Ltd. F/29, No.168 Yincheng Middle Sponsor performing continuous Office address Road, Pudong New Area, Shanghai supervision duties in the Authorized sponsor reporting period* Chi Huitao, Ding Yinghua representative Continuous supervision period January 19, 2017-December 31, 2018 VII. Major accounting data and financial indicators in recent three years (1) Major accounting data Unit: RMB 2016 Major accounting data 2017 Year-on-year (%) 2015 After adjustment Before adjustment Total operating income 870,639,427,000.07 756,414,060,141.04 756,416,165,065.29 15.10 670,448,223,139.34 Operating income 857,977,717,906.64 746,234,636,304.31 746,236,741,228.56 14.97 661,373,929,792.65 Net profit attributable to shareholders of the 34,410,339,492.71 32,005,700,516.10 32,008,610,688.65 7.51 29,793,790,723.65 Company Net profit excluding non- recurring profit or loss attributable to 32,915,755,236.71 30,328,970,857.53 30,328,970,857.53 8.53 27,330,818,075.38 shareholders of the Company Net cash flow from 24,301,071,935.41 11,360,916,342.78 11,376,933,816.05 113.90 25,992,574,916.30 operating activities December 31, 2016 December 31,2017 Year-on-year (%) December 31, 2015 After adjustment Before adjustment Net assets attributable to shareholders of the 225,335,302,711.77 192,098,045,637.18 191,920,977,560.73 17.30 175,128,738,657.93 Company Total assets 723,533,131,261.59 590,710,298,719.06 590,628,137,524.05 22.49 512,955,958,115.78 (II) Major financial indicators 2017 2016 Year-on-year (%) 2015 Major financial indicators Before After adjustment
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