According to the Zhitong Finance App, GAHoldings (08126) announced results for the first quarter of 2023, with revenue of approximately HK$534 million, a year-on-year decrease of 12.63%; net loss of HK$4,877 million, net profit of HK$148.31 million for the same period last year; and a loss of HK$1.02 per share.
According to the announcement, the loss was mainly due to intense price competition among major Chinese automobile brands during the period.