trending Market Intelligence /marketintelligence/en/news-insights/trending/mxVH4BFGk0kcdmhoQbaRdw2 content esgSubNav
In This List

Guangzhou Automobile Group Q2 profit climbs 91.8% YOY

Blog

Insight Weekly: Labor market recovery hurdles; power market integration; nonbank M&A hunt

Blog

Investment Banking Essentials Newsletter: October Edition

Blog

Banking Essentials Newsletter: October Edition

Blog

ESG & Technology: Impacts and Implications


Guangzhou Automobile Group Q2 profit climbs 91.8% YOY

Guangzhou Automobile Group Co. Ltd. said its normalized net income for the second quarter came to 23 fen per share, compared with the S&P Capital IQ consensus estimate of 27 fen per share.

EPS climbed 89.4% year over year from 12 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.51 billion yuan, an increase of 91.8% from 785.3 million yuan in the prior-year period.

The normalized profit margin increased to 13.5% from 13.0% in the year-earlier period.

Total revenue increased 86.4% on an annual basis to 11.28 billion yuan from 6.05 billion yuan, and total operating expenses climbed 70.2% from the prior-year period to 10.58 billion yuan from 6.22 billion yuan.

Reported net income rose 68.4% from the prior-year period to 2.05 billion yuan, or 32 fen per share, from 1.22 billion yuan, or 19 fen per share.

As of Aug. 26, US$1 was equivalent to 6.67 yuan.