Beijing (Gas Goo) – Chongqing Changan Automobile Co., Ltd. (Changan Automobile) releases an impressive performance report with operating revenue of 42.714 billion yuan for the third quarter (Q3) of 2023, a significant increase of 48.43% year-on-year. Did.
Photo provided by: Changan Automobile
Changan’s net profit attributable to shareholders reached 2.229 billion yuan in the third quarter, an increase of 113.9% year-on-year. Net income attributable to shareholders excluding non-ordinary gains and losses for the current period was 2.13 billion yuan, an increase of 184.49% compared to the same period last year.
Regarding the cumulative performance of the first three quarters of this year, Changan reported operating revenue of 108.206 billion yuan, an increase of 26.78% year-on-year. Net profit attributable to shareholders reached 9.882 billion yuan, an increase of 43.22% over the same period last year. In addition, net cash flow from operating activities surged to 17.479 billion yuan, representing a staggering 362.06% year-on-year increase.
Changan Automobile attributes its success to the steady performance of various tasks throughout the first three quarters of 2023, stating that “in general, sales growth exceeds sales volume growth, and profit margins “We exceeded sales growth and maintained a high level.” Favorable development pattern with both scale and profitability. ”
Changan Automobile also invested heavily in research and development in the first three quarters of this year, with research and development expenses reaching 4.543 billion yuan, an increase of 31.99% over the same period last year. As stated in Changan’s financial report, this increase was mainly due to the impact of the acquisition of new energy vehicle brand Deepal and increased research and development expenses.
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