BAIC motor renews agreements, adds financial services, reports profit drop

BAIC Motor Corporation has renewed its Property and Facility Leasing, Products and Services Purchasing, Provision of Products and Services, and Trademark Licensing Framework Agreements with BAIC Group for three years, from January 1, 2026, to December 31, 2028. Additionally, the company entered a new Financial Services Framework Agreement with BAIC Group, effective for the same period, for deposits, loans, and other financial services. The proposed annual caps for these renewed and new agreements are subject to Independent Shareholders' approval at the 2025 Second EGM.

Annual caps for sales of vehicles by Beijing Benz to Mercedes-Benz AG and its associates were also proposed for 500 million yuan annually for each of the three years ending December 31, 2028.

In its interim results for the first half of 2025, BAIC Motor reported 82,398,455 yuan revenue, a decrease from 94,322,292 yuan in the first half of 2024. Net profit attributable to owners of the parent decreased to 359,961 yuan, from 1,978,021 yuan in the prior year, with basic earnings per share of 0.04 yuan.