JAC Group boasts 198.92 million yuan of net profit in Jan.-Apr. 2023 period

Beijing (Gasgoo)- Chinese major automaker JAC Group reported a strong business performance for the period of January to April in 2023, with a total of 182,897 vehicles sold, which marked a rise of 16.68% compared to the same period last year.

JAC at the 2023 Costa Rica Expomovil Auto Show; photo credit: JAC Group

In the first four months of this year, JAC Group achieved an operating revenue of 14.451 billion yuan, representing a 19.8% year-on-year jump. The net profit attributable to the owners of the parent company reached 198.92 million yuan, which signifies a remarkable turnaround from the 457.04 million yuan of net loss reported in the same period of the previous year.

The company's robust performance during this period was primarily driven by the continuous growth of its export business, which contributed to both scale and profitability, said JAC Group. 

Regarding JAC Group’s performance in the overseas markets, an outstanding 96.55% year-on-year hike was scored as the Chinese automaker exported 12,019 vehicles in April 2023. In the first four months of the year, JAC Group’s cumulative export volume came in at 58,181 vehicles, which leapt 96.98% from a year ago.