FilingReader Intelligence

China MeiDong Auto posts loss, plans share option scheme

April 23, 2025 at 05:14 PM UTCBy FilingReader AI

** China MeiDong Auto Holdings (HKEX:1268) announced a net loss of RMB2,258.8 million for the year ended December 31, 2024, a stark contrast to the RMB155.8 million profit in the previous year. This downturn was attributed to intense market competition, macroeconomic factors weakening luxury vehicle demand, and substantial non-cash impairment losses on goodwill and dealership rights totaling RMB2.91 billion. Revenue also decreased by 22.4% year-on-year to RMB22,154.0 million, while revenue from after-sales and mortgage facilitation services increased by 7.1% to RMB4,427.6 million.

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

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