43.51亿元的亏损数字如惊雷般炸响，广汽集团扣非净利润上市12年来首次亏损。合资品牌辉煌不再，自主品牌难挑重担，新能源转型陷入困境，广汽从云 端跌落至泥潭。 广汽的溃败不仅是企业之殇，更让广州汽车产业的半壁江山陷入风雨飘摇。 日前，广汽集团交出了一份堪称"灾难级"的财报。2024年，广汽集团归母净利润仅8.24亿元，同比锐减81.4%。 事实上，这已经是广汽连续第二年净利润暴跌。 而且，这还是广汽通过资产腾挪，勉强维持账面盈利的结果。 一是获的政府23.5亿元补贴，占净利润比重285%；二是向控股股东溢价9倍出售巨湾技研股权，增厚利润22.6亿元；三是会计手段调节，将如祺出行等亏损 资产移出合并报表。 很明显，广汽集团是通过政府输血和财务手段，勉强让报表"化腐为奇"。如果没有这些，广汽净利润肯定是亏损的，这一点我们从扣非净利润可以看出。 2024年，广汽集团扣非净利润巨亏43.51亿元，同比暴跌221.80%，为上市12年以来首次亏损。 业绩如此支持，资本市场用脚投票。 广汽集团A股股价目前徘徊在8.5元附近，较2021年9月20.36元高点回落54.38%，已遭腰斩；最新总市值约为870亿元，较前期峰值缩 ...

运营商财经网 李广艳/文 近日，广汽集团正式发布了2024年度业绩报告，除了营收和利润之外，研发投入也是关注的焦点，接下 来运营商财经网将试图揭秘广汽集团在研发方面的具体情况。 财报显示，2024年广汽集团研发投入合计75.08亿元，与2023年的83.88亿元相比减少了8.8亿元，研发投 入总额占营业收入比例为6.97%，较上一年增长了0.5个百分点。其中，费用化研发投入为14.39亿元， 资本化研发投入为60.69亿元。 针对研发投入下降的原因，广汽集团在报告中表示，主要是报告期内根据市场环境的变化调整研发投入 节奏及降本增效等综合所致。 截至目前，广汽集团研发人员数量为7317人，占公司总人数的比例为19.1%。但值得注意的是，其研发 人员中有不少是高中及以下学历。 具体来看，在目前广汽集团研发人员学历结构中，博士研究生有128人，硕士研究生有2674人，本科生 有3741人，专科生有509人，高中及以下学历的共有265人。 作为对比，广汽集团2023年财报曾披露，公司拥有博士研究生有116人，硕士研究生有2643人，本科生 有3656人，专科生有569人，高中及以下学历198人。 很显然，广汽集团高中 ...

Core Insights - GAC Group reported a year-on-year increase in production for March 2025, but a decline in sales, with positive growth in the new energy and energy-saving vehicle segments [1] Production and Sales Data - In March 2025, GAC Group's vehicle production reached 188,863 units, a 17.65% increase compared to the same month last year [1][2] - The sales for March 2025 were 173,929 units, reflecting a 3.01% decrease year-on-year [1][2] - Cumulative production for the year to date was 411,205 units, up 2.09% year-on-year, while cumulative sales were 371,087 units, down 9.42% [1] Segment Performance - GAC Honda's March production was 43,527 units, a 29.02% increase, but sales fell by 8.86% to 47,930 units [2] - GAC Toyota produced 70,865 units in March, a 19.20% increase, with sales rising by 5.54% to 68,600 units [3] - GAC Trumpchi's March production was 40,973 units, up 21.44%, but sales decreased by 2.25% to 32,465 units [3] - GAC Aion's production was 33,241 units, a slight increase of 0.26%, while sales dropped by 11.49% to 24,656 units [3] New Energy and Energy-Saving Vehicles - In March, new energy vehicle production was 47,232 units, a 21.33% increase, with sales slightly down by 0.72% to 33,362 units [3] - Energy-saving vehicle production reached 43,469 units, a significant 44.73% increase, with sales up 14.6% to 40,439 units [4]

Group 1: Company Developments - Meituan has launched a pilot program to provide pension insurance subsidies for delivery riders, starting in Quanzhou, Fujian, and Nantong, Jiangsu, with plans for nationwide coverage [1] - Dongpeng Beverage has submitted an IPO application to the Hong Kong Stock Exchange, with Huatai International, Morgan Stanley, and UBS as joint sponsors [2] - XPeng Motors has established a new sales service company in Chengdu with a registered capital of 5 million RMB, focusing on the sale of new energy vehicles and related services [3] - Douyin Group has acquired a land parcel in Guangzhou for 1.214 billion RMB, intended for the construction of a South China innovation base [4] - Alibaba Pictures has founded a new company, Luming Interactive Technology, in Shanghai with a registered capital of 1 million RMB, focusing on esports and digital content production [5] Group 2: Financial Performance - GAC Group reported March automobile sales of 173,929 units, a year-on-year decline of 3.01%, with new energy vehicle sales at 33,362 units, down 0.72% [6] - Lier Chemical expects a net profit of 145 million to 155 million RMB for Q1 2025, representing a year-on-year growth of 203% to 224% [8] Group 3: Investment and Financing - "Unstoppable Technology" has completed a multi-million dollar Series B financing round, led by Wuyuan Capital, to accelerate product iteration and enhance global delivery capabilities [9] - DeepBlue Technology has secured several hundred million RMB in Pre-IPO financing from Pudong Venture Capital Group, focusing on AI and robotics [10] Group 4: New Products and Innovations - OpenAI has introduced PaperBench, a benchmark for evaluating AI agents' ability to replicate cutting-edge AI research [11] - Mercedes-Benz has tested its next-generation hydrogen fuel cell trucks, with plans for commercial deployment by the end of 2026 [11]

Group 1 - The report indicates that Guangzhou Automobile Group Co., Ltd. has not experienced any changes in its registered capital or the number of shares issued for both A-shares and H-shares as of March 31, 2025 [1] - The total registered capital at the end of the month is RMB 10,197,065,900, with A-shares totaling 7,383,697,595 and H-shares totaling 2,813,368,305 [1] - The number of issued shares (excluding treasury shares) remains unchanged at 7,370,186,145 for A-shares and 2,813,368,305 for H-shares [1] Group 2 - There were no new shares issued or treasury shares transferred during the month, resulting in a net change of zero in issued shares [1] - The report confirms that there are no outstanding warrants or convertible securities related to the company [1]

Core Viewpoint - Guangzhou Automobile Group Co., Ltd. reported a significant increase in vehicle production and sales for March 2025, indicating a positive trend in the automotive sector [1]. Production and Sales Summary - In March 2025, the total vehicle production reached 188,863 units, representing a year-on-year increase of 17.65%. Cumulatively, the production for the year amounted to 411,205 units, up by 2.09% compared to the previous year [1]. - The total vehicle sales for March 2025 were not explicitly stated but are implied to follow the production trends, with a cumulative sales figure of 371,087 units for the year, reflecting a decrease of 9.42% [1]. Breakdown by Subsidiaries - **Guangzhou Honda Automobile Co., Ltd.**: Produced 43,527 units in March, a 29.02% increase year-on-year, with cumulative production of 91,013 units, up 8.71% [1]. - **Guangzhou Toyota Automobile Co., Ltd.**: Achieved production of 70,865 units, a 19.20% increase year-on-year, with cumulative production of 171,892 units, up 3.37% [1]. - **GAC Trumpchi Automobile Co., Ltd.**: Produced 40,973 units, a 21.44% increase year-on-year, but cumulative production decreased by 10.12% to 84,011 units [1]. - **GAC Aion New Energy Automobile Co., Ltd.**: Specific production figures were not provided, but the overall trend in new energy vehicles showed a year-on-year increase of 21.33% for March [1]. Vehicle Type Analysis - **Passenger Vehicles**: Total production was 188,606 units, a 17.49% increase year-on-year, with cumulative production of 410,845 units, up 2.00% [1]. - **SUVs**: Notable growth with production of 104,019 units in March, reflecting a 28.03% increase year-on-year [1]. - **MPVs**: Production increased by 18.26% to 25,359 units in March, although cumulative production showed a decline of 12.22% [1]. - **Commercial Vehicles**: A significant increase in production was noted, with a 3500% rise in March, although the absolute figures were low [1].

| A股代码: 601238 | | --- | | H股代码:02238 | H股代码：02238 H 股简称：广汽集团 A股代码：601238 A股简称：广汽集团 公告编号：临2025-033 广州汽车集团股份有限公司 关于以集中竞价方式回购股份的进展公告 公司分别于 2024 年 3 月 28 日及 2024 年 5 月 20 日组织召开了第六届董事 会第 60 次会议、2023 年年度股东大会及 2024 年第一次 A/H 股类别股东会，审 议通过了《关于以集中竞价交易方式回购股份方案的议案》，同意公司在 A 股和 H 股以集中竞价交易方式回购公司股份。其中，A 股回购股份资金总额不低于人 民币 1 亿元且不超过人民币 2 亿元（均包含本数）；H 股回购股份资金总额不低 于人民币 4 亿元且不高于 8 亿元（均包含本数，最终依据汇率折算港元）；回购 期限为自本公司股东大会审议通过本次回购股份方案之日起不超过 12 个月或至 本公司下一次年度股东大会之日止。详细内容请见公司于 2024 年 5 月 31 日披露 的《广汽集团关于以集中竞价方式回购股份的回购报告书》（公告编号：临 2024- 039）。 ...

截至月份: 2025年3月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 廣州汽車集團股份有限公司(於中華人民共和國註冊成立的股份有限公司) 呈交日期: 2025年4月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | A | | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 601238 | 說明 | A股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 7,383,697,595 | RMB | | 1 | RMB | | 7,383,697,595 | | 增加 / 減少 (-) | | | 0 | | | | RMB | | 0 | | 本月底結存 | | | 7,383,697,595 | RMB | | 1 | RMB | | 7,383,697,595 | | 2. 股份分類 | 普通股 | 股份類 ...

| 单 | 位 | | | 产 | 量（辆） | | | | | 销 | 量（辆） | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 本月数 | 去年 | 月度 | 本年 | 去年 | 累计 | 本月数 | 去年 | 月度 | 本年 | 去年 | 累计 | | | | | 同期 | 同比 | 累计 | 累计 | 同比 | | 同期 | 同比 | 累计 | 累计 | 同比 | | 广汽本田汽车有限公司 | | 43,527 | 33,736 | 29.02% | 91,013 | 83,723 | 8.71% | 47,930 | 52,587 | -8.86% | 92,729 | 116,976 -20.73% | | | 广汽丰田汽车有限公司 | | 70,865 | 59,452 | 19.20% | 171,892 | 166,290 | 3.37% | 68,600 | 65,000 | 5.54% | 161,600 | 156,054 | 3.55% ...

Financial Performance - GAC Group reported a revenue of 106.8 billion yuan for 2024, a decrease of 17.1% compared to 2023 [1] - The net profit attributable to shareholders was 824 million yuan, down 81.4% year-on-year [1] - The net profit after deducting non-recurring gains and losses showed a loss of 4.35 billion yuan, a decline of 221.8% [1] - Operating cash flow net amount was 10.92 billion yuan, an increase of 62.3% year-on-year [1] - The total assets at the end of 2024 were 232.46 billion yuan, up 6.44% from the previous year [1] Automotive Production and Sales - GAC Group's total automotive production and sales for 2024 were 1.9166 million and 2.0031 million units, respectively [2] - The sales proportion of self-owned brands increased to approximately 39.41% [2] - New energy vehicle sales reached 430,800 units, accounting for about 55% of self-owned brand sales [2] - GAC Trumpchi's annual sales were approximately 415,000 units, with new energy vehicle sales growing by 129.8% year-on-year [2] - GAC Aion's annual sales were about 375,000 units [2] Export and Overseas Market - GAC Group's automotive export volume reached 127,000 units, a year-on-year increase of 67.6% [2] - The overseas market gross profit margin was 14.72% [2] - Self-owned brand automotive sales in overseas markets exceeded 100,000 units for the first time, growing by 92.3% [2] Executive Compensation - The total remuneration for GAC Group's directors, supervisors, and senior management in 2024 was 24.58 million yuan [3] - Chairman and General Manager Feng Xingya received a salary of 1.984 million yuan, the highest in the company [3] - Feng Xingya's salary has decreased consecutively over the past two years, with a reduction of 50.16% [4] Company Overview - GAC Group's main business includes research and development, complete vehicles (cars, motorcycles), parts, trade services, and finance, forming a complete automotive industry chain [5] - The company has established an industrial layout that covers South China and radiates to Central, East, Northwest China, and the Bohai Rim region [5]