2024 Interim Report of Wuling Motors (0305.HK), Business News
Business new tamfitronics HONG KONG, Aug 27, 2024 - (ACN Newswire) - On August 22, Wuling Motors (0305.HK) released its 2024 interim results. For the first half of the year, Wuling Motors reported total revenue of RMB 3.946 billion, with a gross profit margin of 10.8%, up about 270 basis points from 8.1% in the same period of 2023. The profit for the period was RMB 21.125 million, representing a 72.3% year-on-year increase.Despite intensified market competition and pressures from industry transformation, the automobile sector showed an overall upward trend in the first half of the year. From January to June, revenue in China's automotive industry reached RMB 4.767 trillion, reflecting a 5% year-on-year increase. The growth in vehicle production and sales also improved profitability for upstream industry chain companies. Wuling Motors' latest results are notably strong.Steady...
