JAC Group's net profit shoots up 1,029% YoY in Q3 2024

Beijing (Gasgoo)- On October 29, Anhui Jianghuai Automobile Group Corp., Ltd. (JAC Group) released its latest quarterly finance report, showing a total operating revenue of 32.27 billion yuan for the first three quarters of 2024.

Photo credit: JAC Group

The group's net profit attributable to shareholders reached 625 million yuan in the Jan.-Sept. period, soaring 239.86% year over year.

In the third quarter (Q3) alone, JAC Group's net profit attributable to shareholders skyrocketed 1,028.38% from the year-ago period to 324 million yuan.

The company attributes this growth to an optimized product lineup and continued investment in cost-effective, smart new energy vehicles, which underpin its sustainable sales momentum and high-quality development trajectory.

While solidifying its presence in the Chinese market, JAC Group has also expanded its footprint in strategic overseas markets. During the IAA TRANSPORTATION 2024 in Hannover, Germany, JAC launched its Europe Strategy, themed "For Greener Cities, NOW." Through localized operations covering products, marketing, and service, the Chinese automaker aims to set a new standard for "last-mile" green logistics, integrating resources from energy suppliers to logistics and finance. 

Additionally, JAC Group continues to advance its collaboration with Huawei. The first model from their joint brand MAEXTRO will debut at the Auto Guangzhou 2024 and enter the market in spring 2025. Priced above 1 million yuan, this high-performance vehicle marks a new milestone for JAC's premium offerings.