Jinwu Financial News | Guangzhou Automobile Group (02238) announced that in the first quarter of 2024, it recorded net profit attributable to shareholders of 1.22 billion yuan (RMB, same below), a year-on-year decrease of 20.65%. Basic earnings per share were $0.12.
During the period, revenue of 21.346 billion yuan was recorded, a year-on-year decrease of 19.12%. The gross profit reached 1,131 billion yuan, an increase of 85.5% over the previous year. The gross margin was 5.24%, up 2.95 percentage points from the same period last year. Meanwhile, GAC Trumpchi and GAC Aian's profit and loss narrowed by 23.9% compared to the same period last year.