Changan Automobile boasts 24.78% YoY jump in 2023 annual revenue

Beijing (Gasgoo)- Chinese automaker Chongqing Changan Automobile Co., Ltd. (Changan Automobile) released its 2023 financial report on April 17. The report reveals that Changan Automobile's annual revenue for 2023 reached 151.298 billion yuan, marking a jump of 24.78% compared to the previous year.

Photo credit: Changan Automobile

In 2023, Changan Automobile achieved a net profit of 11.327 billion yuan attributable to shareholders, indicating a 45.25% year-on-year surge from the 7.8 billion yuan recorded in the same period last year. After deducting non-recurring gains and losses, the company’s annual net profit reached 3.782 billion yuan, up by 16.19% from the previous year.

Notably, Changan Automobile's revenue hit 43.091 billion yuan in the fourth quarter of 2023, with the net profit attributable to shareholders standing at 1.445 billion yuan and a post-deduction net profit of 169.38 million yuan.

For the full year of 2023, Changan Automobile achieved a yearly sales volume of 2.553 million vehicles, marking an 8.8% year-on-year rise. The company excelled in new energy vehicle and export sales, with sales of self-owned brands’ new energy vehicles reaching 474,000 units, surging 74.8% from a year ago, and exports reaching 358,000 units, leaping 43.9% year on year.