The latest update is out from BAIC Motor ( (HK:1958) ).
BAIC Motor Corporation Limited has issued a profit warning, indicating a significant decrease in net profit for the year ended December 31, 2024. The company expects a net profit of approximately RMB950 million, marking a 68.6% decline compared to the previous year. This downturn is attributed to increased competition in the domestic passenger vehicle industry and heightened investments aimed at enhancing competitiveness, which have collectively impacted the company’s financial performance.
More about BAIC Motor
BAIC Motor Corporation Limited is a joint stock company incorporated in the People’s Republic of China, operating in the automotive industry. The company is primarily focused on the production and sale of passenger vehicles, with a market presence in the domestic Chinese market.
YTD Price Performance: 12.76%
Average Trading Volume: 5,867
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $2.68B
For detailed information about 1958 stock, go to TipRanks’ Stock Analysis page.