Gelonghui, April 3 | Guolian Securities Research Report pointed out that gross vehicle margins improved, SAIC Motor Group (600104.SH) withheld non-profit increased year-on-year in '23, joint ventures were under pressure and autonomy, and operations in 2024 are worth looking forward to. The company's sales target for 2024 is 5.45 million vehicles, and the comprehensive promotion of electrification and intelligence is expected to help increase the company's sales volume. In view of the company accelerating the transformation of new energy sources, continuing to lay out overseas markets, and improving the quality of joint ventures, the company was given 15 times PE in 2024, corresponding to a target price of 20.3 yuan, with a “buy” rating based on comparable company valuations.