On April 28, Ge Longhui (000799.SZ) released its report for the first quarter of 2024. Operating income for the reporting period was 494 million yuan, down 48.80% year on year; net profit attributable to shareholders of listed companies was 73.3803 million yuan, down 75.56% year on year; net profit attributable to shareholders of listed companies after deducting non-recurring profit and loss was 69.5072 million yuan, down 76.75% year on year; basic earnings per share were 0.2258 yuan.

Although sales of the company's VW price range products from brands such as Xiangquan increased this quarter, the company's new production capacity was affected by the storage period and cannot be converted into finished products in the short term. At this stage, the company's Volkswagen price range products are still limited by production capacity, and it is not yet possible to form an effective sales revenue and profit supplement.