Guangzhou Automobile Group Faces Major Profit Decline

Guangzhou Automobile Group Co (HK:2238) has released an update.

Guangzhou Automobile Group Co. has reported a significant downturn in their financial performance for the third quarter of 2024, with a notable 21.73% decrease in operational revenue and a staggering 190.40% drop in net profit attributable to shareholders. The company’s net cash flow from operating activities also saw a substantial decline of 75.56% compared to the same period last year. Despite these challenges, the total assets increased by 2.14%, reflecting a mixed financial outlook.

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