Wuling Motors Group Holdings Co., Ltd. (Wuling Motors) has announced its interim financial report for the six months ended June 30, 2024. The report shows that the group's total revenue was RMB 3,946,324,000, a decrease of 22.5% compared to the same period in 2023. Gross profit was RMB 425,824,000, an increase of 3.7% compared to the same period in 2023. Net profit for the period was RMB 21,125,000, an increase of 72.3% compared to the same period in 2023, and net profit attributable to the owners of the company was RMB 1,586,000, an increase of 4.3% compared to the same period in 2023. Wuling Motors stated that the decrease in revenue was mainly due to a decrease in customer orders in the automotive powertrain division and the company's repositioning strategy for modified...Show More

Wuling Motors Group Holdings Co., Ltd. (Wuling Motors) has announced its interim financial report for the six months ended June 30, 2024. The report shows that the group's total revenue was RMB 3,946,324,000, a decrease of 22.5% compared to the same period in 2023. Gross profit was RMB 425,824,000, an increase of 3.7% compared to the same period in 2023. Net profit for the period was RMB 21,125,000, an increase of 72.3% compared to the same period in 2023, and net profit attributable to the owners of the company was RMB 1,586,000, an increase of 4.3% compared to the same period in 2023. Wuling Motors stated that the decrease in revenue was mainly due to a decrease in customer orders in the automotive powertrain division and the company's repositioning strategy for modified vehicles since the second half of 2023. During the reporting period, Wuling Motors did not declare an interim dividend (which was also the case in the same period in 2023). The main business divisions of Wuling Motors usually experience higher product demand in the second half of the year, which is consistent with the industry practice in the automobile industry.