According to the Guolian Securities Research Report, SAIC Motor Group (600104.SH) sales in February were under short-term pressure due to the Spring Festival holiday. In terms of retail sales, the company achieved 736,000 vehicle sales in January-February, an increase of 11% over the previous year, maintaining the lead in the industry. By brand, with the exception of SAIC-GM-Wuling, Zhiji Auto, and MG India, sales of all other brands declined year-on-year in February. The wholesale sales volume of Shangtong 5, Zhiji Auto and MG India in February was 7.5/0.2/50,000 units, respectively, up 4%/60%/12% year on year, respectively. The sales performance was relatively good. In addition, the company's wholesale NEV sales volume in February was 61,000 units, up 37% year on year. The cumulative wholesale sales volume in January-February was 125,000 units, up 63% year on year, and NEV sales maintained high growth. As the company's products accelerate the transformation of new energy sources and continue to strengthen the brand's overseas expansion, it is recommended to continue to pay attention.