Guangzhou Automobile Group Co.,Ltd.’s Net Profit Dropped 56.4% in First Quarter of 2023

Guangzhou Automobile Group Co.,Ltd. (广州汽车集团股份有限公司) (601238.SH) reported a net profit of 1.3 billion yuan in the first quarter of 2023, down 56.4% year-on-year.

Meanwhile, the company posted 26.4 billion yuan in revenue, up 14.1% year-on-year.

At the end of the reporting period, it had 196.9 billion yuan in total assets and 73.3 billion yuan in total liabilities, with a liability-to-asset ratio of 37.2%.