China Harmony Auto reports loss despite revenue decline

China Harmony Auto Holding Limited (HKEX: 3836) reported a revenue of RMB15,617.4 million for the year ended December 31, 2024, a 5.8% decrease compared to the previous year. Despite the overall revenue decline, revenue from Hong Kong and overseas operations increased significantly, reaching RMB1,788.5 million. New vehicle sales volume rose by 4.6% to 40,247 units. The company recorded a net loss of RMB285.7 million, which included non-recurring losses. Excluding these, the adjusted loss would be RMB146.1 million. The gross profit amounted to RMB699.7 million. Basic and diluted loss per share were both RMB0.20. The company will not be paying a dividend for the year.