Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizen Xiao Zhan for the clue delivery! According to CTOnews.com news on October 26, GAC GROUP announced today that operating income in the first three quarters was 97.656 billion yuan, up 22.11 percent over the same period last year. Net profit belonging to shareholders of listed companies was 4.511 billion yuan, down 44.05 percent from the same period last year. Basic earnings per share were 0.43 yuan.

Of this total, the operating income in the third quarter was 36.069 billion yuan, an increase of 14.40% over the same period last year; the net profit belonging to shareholders of listed companies was 1.545 billion yuan, down 33.18% from the same period last year.

GAC GROUP said that the decline in net profit from the same period last year was mainly due to the decline in car sales and profits of the joint venture, resulting in a decrease in net profit compared with the same period last year.

According to previous reports from CTOnews.com, GAC GROUP recently issued an announcement saying that it intends to restructure GAC-Mitsubishi, GAC-Mitsubishi Motor sales Company and other restructuring matters. After the completion of the restructuring, GAC-Mitsubishi will become a wholly-owned subsidiary of GAC GROUP, while GAC-Ean will use the GAC-Mitsubishi plant to increase production and capacity, and plans to achieve mass production in June 2024.

GAC GROUP's cumulative car sales in the first nine months of this year were 1.7943 million, down 1.69 percent from the same period last year, of which 393900 were new energy vehicles, up 92.27 percent from the same period last year.

In September this year, GAC EA delivered 51596 new cars in September 2023, an increase of 72 per cent over the same period last year, with a cumulative sales volume of 350986 vehicles from January to September, an increase of 93 per cent over the same period last year.

According to the 2023 semi-annual report disclosed by GAC GROUP, GAC has made a profit for two consecutive months in June and July this year, which means that GAC has become the third domestic new energy vehicle brand to make a profit after BYD and ideal.

In addition, GAC Ean achieved production and sales of 267 million vehicles and 209300 vehicles in the first half of the year, up 117.39 per cent and 108.81 per cent respectively over the same period last year, and has maintained sales of more than 40,000 units for seven consecutive months.

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