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SAIC Motor' 2011 net profit rose 23.38%

Mar. 30, 2012 (China Knowledge) - SAIC Motor Corp Ltd<600104>, China's No.1 carmaker, announced yesterday that its net profit grew 23.38% year on year to RMB 20.22 billion in 2011.

Basic earnings per share were RMB 1.83 in 2011, and the company proposed a dividend of RMB 3 per ten shares.

The automaker's operating revenue rose 18.89% year on year to RMB 434.8 billion.

In 2011, SAIC Motor saw its auto sales exceed 4 million units, 12% more than in the previous year. The growth rate was 9.5 percentage points higher than the national average.

Profit margin at the auto manufacturing sector fell 0.37 percentage points to 18.75% last year.

The company aims to sell 4.3 million vehicles and realize RMB 450 billion in operating revenue this year.

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