According to the Zhitong Finance App, Wuling Auto (00305) disclosed the final results for the year ended December 31, 2023. The company's revenue was 10.484 billion yuan, down 16.8% year on year; gross profit of 1,037 billion yuan, up 14.1% year on year; profit attributable to company owners was 234.77 million yuan, up 3.8% year on year. Basic earnings per share were 0.71 points. A final dividend of HK0.5 cents is proposed per share.
For the year ended December 31, 2023, the total revenue of the Automotive Powertrain Division (based on external sales) was $2.48 billion, a slight decrease from last year. The total revenue of the Auto Parts and Other Industrial Services segment (based on external sales) was 6.13 billion yuan, a slight increase of about 1.4% compared to the younger generation. This is mainly due to the fact that although SAIC-GM-Wuling's business volume declined due to the difficult and fiercely competitive business environment during the year, the volume of business contributed by new customers continued to grow. The total revenue of the commercial vehicle division operated by Wuling Industries (based on external sales) was 1,838 billion yuan, a sharp decrease of about 49.2% from last year.