SAIC Motor cancels shares, reports mixed half-year financials

SAIC Motor Corporation Limited is set to cancel 80,021,941 shares on August 29, 2025, reducing its total share capital from 11,575,299,445 shares to 11,495,277,504 shares. This action results from a 2021 share repurchase plan, with the company opting to cancel the shares as the holding period nears its end. Creditors were notified, and no claims for early repayment or guarantees were received.

The company's 2025 semi-annual report shows a 6.23% increase in operating revenue to RMB294,336,270,589.52, while net profit attributable to shareholders decreased by 9.21% to RMB6,017,510,073.12. Operating cash flow improved significantly, rising 85.89% to RMB21,037,274,857.33.

SAIC Motor is also making a RMB1.235 bn provision for asset impairment in the first half of 2025, primarily for accounts receivable, inventory, and long-term assets, to accurately reflect asset values amid intensified market competition. Additionally, SAIC Motor will establish new subsidiaries for passenger vehicle sales and supply chain management, and reorganize its internal departments.