Glonghui November 7 | According to the Dongwu Securities Research Report, SAIC Motor Group (600104.SH) wholesale in October was +2% month-on-month, and the monthly wholesale/export/new energy volume all hit new highs during the year. The company's core technology, the new energy three-power system, and the intelligent software and hardware full-stack layout, reached further cooperation with Audi, demonstrating the company's comprehensive strength in the field of electric intelligence. Feifan+Zhiji promotes the high-end of its own brands, while the company's export performance continues to be impressive. The bank maintained the company's 2023-2025 net profit forecast of 134.17/166.17/22.709 billion yuan, corresponding EPS of 1.15/1.42/1.94 yuan, corresponding PE of 13/11/8 times, maintaining the company's “buy” rating.