GAC Swings to Loss in Q3 as Revenue Slides 22%

MT Newswires Live

2024/11/01

Guangzhou Automobile or GAC (HKG:2238) swung to an attributable loss of 1.40 billion yuan in the third quarter from a profit of 1.54 billion yuan in the year-ago period.

The automobile company swung to a loss per share of 0.13 yuan from earnings per share of 0.15 yuan a year earlier.

Revenue from operations declined 22% year over year to 28.2 billion yuan, according to a Wednesday filing with the Hong Kong Exchange.

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