BAIC Motor (1958) H1 2025 earnings summary

Executive summary

• Achieved sales of 421,000 vehicles and consolidated revenue of RMB82,398.5 million for H1 2025, with profit attributable to equity holders at RMB360 million and EPS of RMB0.04.

• New energy vehicles, intelligent driving, and off-road sector expansion drove product innovation and overseas market breakthroughs.

• Strategic focus on the "Three-year Leap Forward Action" and new model launches, including BJ40e REEV Edition and pure electric CLA, supported steady terminal sales growth domestically and internationally.

• No interim dividend was declared for H1 2025.

• The group maintained a strong capital position and continued R&D investment.

Financial highlights

• Revenue for H1 2025 was RMB82,398.5 million, down 12.6% year-over-year due to price competition and sales decline.

• Net profit attributable to equity holders was RMB360.0 million, down 81.8% year-over-year; basic EPS was RMB0.04.

• Gross profit was RMB11,920.5 million, down 32.2% year-over-year.

• Net cash from operating activities was RMB1,961.0 million, down 83.0% year-over-year.

• Cash and cash equivalents at June 30, 2025, were RMB25,540.8 million.

Outlook and guidance

• The second half of 2025 will see implementation of large-scale equipment renewal and consumer goods trade-in policy, expected to drive auto consumption.

• The group will focus on marketing empowerment, cost control, and quality improvement to expand market share and achieve operational goals.

• Beijing Brand to deepen presence with BJ40 Range-Extender and BJ30, while Beijing Benz and Beijing Hyundai aim to consolidate and improve market positions.

• Industry competition is expected to remain fierce amid a complex external environment.