Guangzhou Automobile Group (SHA:601238, HKG:2238) posted 2024 net profit attributable to shareholders of 823.6 million yuan, or 0.08 yuan per share, down 81% from 4.43 billion yuan, or 0.42 yuan per share, the previous year.
The automaker's revenue declined 17% year over year to 106.8 billion yuan from 128.8 billion yuan, according to a filing with the Shanghai bourse.
GAC declared a final dividend of 0.02 per share.
Shares of the company rose 2% in recent trade on the Hong Kong bourse, but declined 1% on the Shanghai bourse.
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