GAC Group Posts Solid 2024 Year-End Results

The GAC Group has announced its 2024 year-end results, showcasing strong performance across various aspects of the company.

In terms of net income, the group's total operating revenues reached approximately CNY 14.0165 trillion, with a combined net income of around CNY 107.8 billion. The overseas market achieved a gross profit margin of 14.72%. In the year 2024, the group produced over 1.9166 million vehicles and sold around 2.0031 million units, with sales increasing consecutively for five months from August to December.

The company reported increased sales in both domestic and foreign markets. Specifically:

• China brand revenue accounted for a significant portion of total sales, reaching 40% market share.
• New energy automobile sales reached 43,080 vehicles in 2024, accounting for 55% of China brand sales.
• Geely Automobile sales totaled 415,000 units, with new energy vehicle sales increasing by 129.8% compared to the same period last year. The MPV segment saw around 184,000 units sold.

Segmented Sales Data

• Baojun: 41.5 million units
  • New Energy Vehicles: 43,080 units (growth of 129.8% compared to the same period last year)
  • MPV Sales: approximately 184,000 units
• Eeshaan: 37.5 million units
  • Year-over-year growth rate: 96.8%
• Geely Honda: 48.1 million units
• Toyota Gaoyuan: 77 million units

Future Expansion Plans

For 2025, the group plans to launch more than 20 new vehicle models with seven model variants exclusively tailored for Chinese brand owners.

• A diverse lineup of electric and hybrid powertrains is expected in 2025.
• GAC Group aims to become a global player in the automotive industry to cross over the one million unit sales for the first time.

In addition to continuing market expansion, the group plans to enter new international markets, reaching 87 countries with export volumes totaling around 180,000 units (year-over-year growth of 40%). For more information on the GAC Group's future business strategies and development plans, please stay tuned for further updates.