Guangzhou Automobile Group's 2022 Net Profit Rose 6.3%
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Dow Jones
By Justina Lee
Guangzhou Automobile Group Co. posted a 6.3% increase in 2022 net profit, supported by higher vehicle production and sales volumes.
Net profit rose to 7.98 billion yuan ($1.16 billion) from CNY7.51 billion for 2021, the company said late Wednesday after market close.
Revenue climbed 45% to CNY110.01 billion.
The board proposed a final dividend of CNY0.18 for 2022.
The company said it is "striving for the challenging goal of a 10% year-on-year growth in automobile production and sales volume, while continuing to maintain a growth trend higher than the industry average."
Write to Justina Lee at justina.lee@wsj.com
(END) Dow Jones Newswires
March 29, 2023 21:08 ET (01:08 GMT)
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