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

SAIC MOTOR CORPORATION (600104)
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Alibaba, Ford to cooperate in search for new retail opportunities

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12/07/2017 | 11:38am CEST
FILE PHOTO: The Ford Motor Company logo is pictured at the Los Angeles Auto Show

BEIJING/SHANGHAI (Reuters) - Alibaba Group Holding Ltd (>> Alibaba Group Holding) has signed a deal with Ford Motor Co (>> Ford Motor Company) to explore cooperation in areas such as cloud computing, connectivity and retail which could involve the sale of Ford cars on Alibaba's online retail platform Tmall.

BEIJING/SHANGHAI (Reuters) - Alibaba Group Holding Ltd (>> Alibaba Group Holding) has signed a deal with Ford Motor Co (>> Ford Motor Company) to explore cooperation in areas such as cloud computing, connectivity and retail which could involve the sale of Ford cars on Alibaba's online retail platform Tmall.

Alibaba in a statement on Thursday said digital marketing-focused Alimama and operating system firm AliOS would be among subsidiaries working with Ford under the three-year agreement.

One avenue under consideration is the sale of Ford cars on Tmall, an Alibaba spokeswoman said. Reuters on Wednesday reported that Ford was planning to sign such a deal as it overhauls its China strategy to stimulate growth.

"The agreement aims to explore new ways to redefine how consumers purchase and own vehicles, as well as how to leverage digital channels to identify new retail opportunities," Alibaba said in its statement.

The Chinese e-commerce firm and U.S. automaker will initially "explore a pilot study" for new retail opportunities, Alibaba said.

Ford President and Chief Executive Officer Jim Hackett in the statement said collaborating with technology firms builds on its vision to make "smart vehicles".

Ford's China sales have been sluggish in recent months as it struggles to keep pace with rapidly changing trends, including increased demand for entry-level cars in smaller cities.

Meanwhile Alibaba is increasing its presence in the automotive sector with Banma Technologies, a partnership with SAIC Motor Corp Ltd (>> SAIC Motor Corporation Limited) developing Internet-connected cars.

(Reporting by Beijing Monitoring Desk and Brenda Goh in SHANGHAI; Additional Reporting by Norihiko Shirouzu; Editing by Sherry Jacob-Phillips and Christopher Cushing)

Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING -0.98% 148.14 Delayed Quote.-16.40%
FORD MOTOR COMPANY -0.45% 8.76 Delayed Quote.-30.82%
SAIC MOTOR CORPORATION 2.10% 27.72 End-of-day quote.-15.73%
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Financials (CNY)
Sales 2018 946 B
EBIT 2018 34 767 M
Net income 2018 37 993 M
Finance 2018 88 955 M
Yield 2018 7,21%
P/E ratio 2018 8,38
P/E ratio 2019 7,72
EV / Sales 2018 0,24x
EV / Sales 2019 0,20x
Capitalization 315 B
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Mean consensus OUTPERFORM
Number of Analysts 29
Average target price 34,8  CNY
Spread / Average Target 28%
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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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