Guangzhou Automobile Group Co ( (HK:2238) ) has issued an update.
Guangzhou Automobile Group Co., Ltd. has announced its consolidated financial results for the year ending December 31, 2024, showing a significant decrease in revenue and profit compared to the previous year. The company reported a revenue of RMB 107.78 billion and a net loss of RMB 494.05 million, attributing the decline to increased selling and administrative costs, as well as net impairment losses on financial assets. Despite these challenges, the company managed to achieve other net gains and a share of net profit from joint ventures and associates, highlighting its efforts to navigate a difficult market environment.
More about Guangzhou Automobile Group Co
Guangzhou Automobile Group Co., Ltd. is a joint stock company incorporated in the People’s Republic of China, operating in the automotive industry. The company focuses on manufacturing and selling vehicles and related components, serving both domestic and international markets.
YTD Price Performance: 7.62%
Average Trading Volume: 3,734
Technical Sentiment Signal: Sell
Current Market Cap: $9.77B
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