FAW Jiefang forecasts 96% profit decline in first half

FAW Jiefang Group expects its net profit for the first half of 2025 to fall 96% to between 18m yuan and 22m yuan, compared to 507m yuan in the same period last year.

The company also projects a substantial loss in non-recurring profit and loss, with an estimated deficit between 373m yuan and 377m yuan, down from a profit of 284m yuan year-on-year.

The company attributes the decline to increased competition in the commercial vehicle market and accelerated energy structure transformation.