Guangzhou Automobile Group Co.,Ltd.’s Net Profit Dropped 54.9% in First Half 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 2.6 billion yuan in the first half of 2023, down 54.9% year-on-year.

Meanwhile, the company posted 61.6 billion yuan in revenue, up 27.2% year-on-year.

At the end of the reporting period, it had 201.9 billion yuan in total assets and 78.9 billion yuan in total liabilities, with a liability-to-asset ratio of 39.1%.