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WULING MOTORS: Interim Report 2024
Wuling Motors Gains Shareholder Backing for 2025 Plans
Wuling Motors' Profit Up Slightly in H1
Soochow Securities: Domestic local electric vehicle sales impressive, industry chain Q3 demand improvement.
Domestic electric vehicle sales in July met expectations, with an expected annual growth rate of around 25%. Sales growth in Europe, America, and other regions continues to be weak.
Wuling Motors (0305.HK) 2024 interim report: The transformation of new energy brings high-quality development, and going global opens up new momentum.
On August 22, Wuling Motors (0305.HK) released its mid-term performance for 2024. In the first half of this year, Wuling Motors' total revenue was 3.946 billion yuan, with a gross margin of 10.8%, an increase of about 270 basis points from the same period in 2023. The net profit for the period was 21.125 million yuan, a year-on-year increase of 72.3%. Despite intensified market competition and the pressure of industry transformation, the automotive industry remained on an upward trend in the first half of the year, with the revenue of China's automotive industry from January to June reaching 4,767.2 billion yuan, a year-on-year increase of 5%. The improvement in the production and sales of vehicles also boosted the profitability of upstream companies in the industry chain, it can be said.
Wuling Motors (00305) announced its interim performance with a group revenue of 3.931 billion yuan and a net profit attributable to shareholders of 1.586 million yuan.
Wuling Motors (00305) released its performance for the 6-month period ending on June 30, 2024, with group revenue of RMB 39...
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