Harmony Auto reverses loss with profit amid international expansion

China Harmony Auto Holding Limited announced robust financial performance for the six months ended June 30, 2025, with total revenue reaching RMB9,636.6 million, a 29.1% increase from RMB7,466.3 million in the corresponding period of 2024. New vehicle sales volume surged by 60.6% to 30,666 units, up from 19,100 units in 2024. Gross profit also saw a significant boost, increasing by 52.8% to RMB559.8 million from RMB366.3 million.

The company achieved a notable turnaround, with the loss attributable to owners narrowing to RMB11.8 million, a substantial improvement from the RMB76.3 million loss in 2024. Excluding non-recurring expenses related to store closures totaling RMB32.5 million, the adjusted net profit reached RMB20.7 million, including RMB2.8 million from Hong Kong and Overseas operations. Basic and diluted loss per share improved by 84.3% to RMB0.008 from RMB0.051.

Growth was predominantly fueled by Hong Kong and Overseas markets, where revenue increased five-fold to RMB3,901.6 million, now accounting for 40.5% of total revenue. Mainland China revenue, however, decreased by 15.8% to RMB5,735.0 million due to weak consumer spending and intense price competition. The Group’s capital expenditure rose by 104.5% to RMB364.4 million, primarily allocated to expanding its overseas sales network.