FilingReader Intelligence

GAC Group's 2024 profit plummets amid strategic shift

March 28, 2025 at 05:04 PM UTC•By FilingReader AI

Guangzhou Automobile Group (GAC Group, HKEX:2238) reported a significant drop in profitability for 2024, as highlighted in its annual results announcement. Net profit attributable to shareholders fell by 81.40% year-over-year to RMB824 million, with basic earnings per share decreasing by 80.95% to RMB0.08. The decline is attributed to intense competition and price wars in the Chinese automobile market, impacting the profitability of its self-developed brands.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

Primary Source Document

(1) POLL RESULTS OF 2025 SECOND EXTRAORDINARY GENERAL MEETING HELD ON 28 MARCH 2025 AND (2) ELECTION OF NEW SESSION OF THE BOARD OF DIRECTORS AND CHANGE OF DIRECTORSMarch 28, 2025 at 02:36 PM UTC

Supplementary Source Documents

(1) POLL RESULTS OF 2025 SECOND EXTRAORDINARY GENERAL MEETING HELD ON 28 MARCH 2025 AND (2) ELECTION OF NEW SESSION OF THE BOARD OF DIRECTORS AND CHANGE OF DIRECTORSMarch 28, 2025 at 02:42 PM UTC

Final dividend for the year ended 31 December 2024March 28, 2025 at 02:42 PM UTC

Guangzhou Automobile Group

HKEX:2238•Hong Kong Exchange

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