Gelonghui, March 28 | Dongfeng Group Co., Ltd. (00489.HK) announced that the Group's revenue in 2023 was approximately RMB 99.315 billion, an increase of about RMB 6.652 billion, or about 7.2%, compared with approximately RMB 92,663 billion in the same period last year. The total gross profit for the current period was 9.466 billion yuan, an increase of 639 million yuan over 8.827 billion yuan in the same period last year, an increase of 7.2%. The gross margin for the current period was 9.5%, which is basically the same as the same period.
By the end of 2023, the Group had sufficient cash reserves, amounting to over 100 billion yuan. In 2023, the Group continued to optimize its asset structure and operating efficiency. The current balance ratio was 51.7%, and the balance and liability structure was stable. Operating cash flow increased by 1,991 billion yuan over the same period last year, operating cash ratio was 8.61%, and operating cash flow increased steadily.
The Group sold about 348 million new energy vehicles in the current period, accounting for an increase of 2.7 percentage points in the Group's sales volume. Among them, the high-end brand Rantu sold more than 50,000 units, an increase of 159.1% over the previous year. The Group's overseas export business maintained a good growth trend, achieving export sales of 1691,000 vehicles, an increase of 14.3% over the previous year, the best level in history.
The Group's overall sales target for 2024 is 2.7 million units, an increase of about 29% compared to 2023 sales. With the influence of the Group's strategic layout, transformation breakthroughs, and continuous optimization in terms of brand upgrading, and the orderly and gradual launch of new models, the passenger car sales target is 2.28 million units, an increase of 30% over the previous year. As the integration of the Group's commercial vehicle business accelerates, the layout of gas vehicles, new energy, and high-horsepower models gradually showed strength. The commercial vehicle sales target was 420,000 units, an increase of 22% over the previous year.