BAIC Motor (1958) Q3 2024 earnings summary

Executive summary

• For the nine months ended September 30, 2024, total operating income was RMB 144.0 billion, down 6.7% year-over-year, with net profit at RMB 10.29 billion, a 22.2% decrease from the prior year period.

• Net profit attributable to owners was RMB 3.10 billion, down from RMB 4.02 billion year-over-year.

• Total comprehensive income was RMB 13.10 billion, compared to RMB 13.24 billion in the prior year.

Financial highlights

• Operating profit for the nine months was RMB 15.22 billion, down from RMB 19.72 billion year-over-year.

• Total assets increased to RMB 172.07 billion as of September 30, 2024, from RMB 168.72 billion at year-end 2023.

• Net cash flows from operating activities were RMB 18.06 billion, a decrease from RMB 23.03 billion in the prior year.

• Net cash used in investing activities was RMB -5.31 billion, an improvement from RMB -7.11 billion year-over-year.

• Net cash used in financing activities was RMB -9.48 billion, compared to RMB -14.84 billion in the prior year.

Outlook and guidance

• No explicit forward-looking guidance or projections were provided in the document.