JAC Group’s revenue jumps 25.87% YoY in H1 2023

Beijing (Gasgoo)- JAC Group achieved a total revenue of 22.369 billion yuan in the first half of 2023, marking a robust year-on-year growth of 25.87%, according to the company’s semi-annual report released on August 25. 

Photo credit: JAC Group

During the first half of this year, JAC Group’s net profit attributable to the shareholders of the listed company reached 155 million yuan, and the company's total assets grew to 49.094 billion yuan, representing a 4.27% increase from a year ago.

This impressive performance is attributed to the continual rise in sales volume and a significant enhancement of JAC Group’s market reputation. In the first six months of this year, JAC Group's cumulative car sales reached 278,800 vehicles, marking an impressive year-on-year growth of 18.53%. In international markets, the company exported a total of 89,200 vehicles in H1, reflecting a remarkable 82.98% soar from the previous year.

Driven by an emphasis on "intelligence" as a core element, JAC Group leverages its technological innovation advantages to foster industry collaboration and intensify R&D investment. With the introduction of its new brand strategy, JAC Group's R&D expenses reached 819 million yuan in H1 2023, marking a 23.4% jump compared to the previous year.

JAC Group's commitment to intelligent platforms and products is evident through its MIS intelligent architecture, DI platform for passenger cars, and MUSE collaborative intelligent electric architecture for MPVs. Notably, the MUSE architecture is China's first MPV-exclusive framework, offering both hybrid and pure-electric power options to meet diverse scenarios. During events like the Auto Shanghai 2023 and the ongoing Chengdu Motor Show, JAC Group unveiled concept cars under the MUSE architecture, setting the stage for a comprehensive product lineup spanning various vehicle segments and powertrains in the coming years.