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MarketScreener Homepage  >  Equities  >  SHANGHAI STOCK EXCHANGE  >  SAIC Motor Corporation    600104   CNE000000TY6

SAIC MOTOR CORPORATION (600104)
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South Korea weighs options for GM Korea: finance minister

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02/09/2018 | 05:02am CEST
A worker checks cars made by GM Korea in a yard of GM Korea's Bupyeong plant in Incheon

SEOUL (Reuters) - South Korea is considering several options regarding General Motors Co's operations in the country, the finance minister said on Friday after the U.S. automaker called for cooperation over its restructuring efforts.

GM's Korea operations have been struggling with rising labor costs and slumping domestic sales, fuelling concerns over a potential pullout.

"We are preparing for various possibilities," Finance Minister Kim Dong-yeon told lawmakers, asked if he had any contingency plan for GM's possible pullout.

Kim did not give further details.

Persistent talk of the carmaker's exit has raised concern in small South Korean cities where it operates manufacturing plants.

South Korea's state-run development bank holds a 17 percent stake in GM Korea, while GM has 77 percent and China's SAIC Motor Corp Ltd has 6 percent.

A South Korean vice finance minister said the Detroit-based automaker had told him in a recent meeting that it "needed cooperation". He declined to elaborate on whether GM had asked for financial support from the government.

(Reporting by Shinhyung Lee, Writing by Ju-min Park; Editing by Stephen Coates)

Stocks treated in this article : SAIC Motor Corporation, General Motors Corporation
Stocks mentioned in the article
ChangeLast1st jan.
GENERAL MOTORS CORPORATION 0.44% 36.375 Delayed Quote.-10.73%
SAIC MOTOR CORPORATION 0.91% 29.89 End-of-day quote.-7.55%
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Financials (CNY)
Sales 2018 943 B
EBIT 2018 32 774 M
Net income 2018 37 588 M
Finance 2018 76 037 M
Yield 2018 6,50%
P/E ratio 2018 9,32
P/E ratio 2019 8,59
EV / Sales 2018 0,29x
EV / Sales 2019 0,25x
Capitalization 346 B
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Mean consensus OUTPERFORM
Number of Analysts 29
Average target price 35,8  CNY
Spread / Average Target 21%
EPS Revisions
Managers
NameTitle
Zhi Xin Chen President, Director & Deputy Party Secretary
Hong Chen Chairman
Baiping Bian Chairman-Supervisory Board
Yong Wei Chief Financial Officer & Board Secretary
Xin Ping Cao Head-Commercial Vehicle Technology
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