Sumfonda gp (01771.HK) announced on August 29th that during the period from January 1, 2024 to June 30, 2024, the revenue was RMB 4.515 billion, a decrease of 14.3% compared to the same period in 2023; the loss attributable to the owners of the parent company was RMB 96.9 million (RMB 8.2 million profit in the same period of 2023). The basic and diluted loss per share attributable to the owners of the parent company during the period was RMB 0.16 (profit of RMB 0.01 per share in the same period of 2023).
In the first half of 2024, within the rapidly changing competitive landscape of the automobile market, the group actively adjusted its operational strategy. By selling new cars with a focus on "maintaining pace and adjusting structure", continuously enhancing derivative level businesses, identifying potential in accident business after-sales services, and expanding the second-hand car market while deepening existing holdings, the group is forming a "customer ecosystem" and steadily facing market changes.
The fierce competition in the automobile consumer market in 2024 led to a decrease in transaction prices, thereby affecting the profitability of new car sales. Faced with the severe market challenges, the group's sales division continues to focus on the contribution of level businesses. By adjusting the financial business structure and redeveloping derivative businesses, the contribution of level businesses increased by 3.35 percentage points year-on-year, to some extent, improving the impact of new car price reductions on the company's profits.
