April 3rd news: Recently, five listed car companies including BYD, Great Wall Motor, GAC Group, SAIC Motor, and Geely Auto have all released their 2023 financial reports.
The performance of these companies varies significantly. Among them, while SAIC Motor still ranks first in revenue, BYD stands out as a clear leader in terms of group profitability.
Data shows that the combined net profit of the five car companies amounts to 60.906 billion CNY, with BYD alone accounting for nearly half of it. BYD's attributable net profit reached a staggering 30.041 billion CNY, a year-on-year increase of 80.72%.
Affected by changes in the competitive landscape of the automotive market, SAIC Motor achieved a revenue of 726.199 billion CNY in 2023, a slight increase of 0.72% year-on-year. Although it has the highest revenue among the five car companies, its attributable net profit of 14.106 billion CNY decreased by 12.48% year-on-year, hitting the lowest point in nearly five years.
GAC Group achieved operating income of 128.757 billion CNY, a year-on-year increase of 17.48%; however, its attributable net profit of 4.429 billion CNY decreased by 45.08% year-on-year, almost halved.
Great Wall Motor's operating income in 2023 reached 173.212 billion CNY, an increase of 26.12% year-on-year, but its attributable net profit fell to 7.021 billion CNY, down 15.06% year-on-year.
As for Geely Auto, its operating income in 2023 was 179.2 billion CNY, a year-on-year increase of 21%, with attributable net profit of 5.308 billion CNY.
