FAW Jiefang(000800) 搜狐财经·2025-04-02 01:56Core Viewpoint - The financial performance of FAW Jiefang Group Co., Ltd. in 2024 shows significant declines in key metrics, indicating operational pressures and challenges in profitability despite a slight increase in vehicle sales [2][3]. Financial Performance - In 2024, FAW Jiefang achieved total revenue of 58.581 billion yuan, a year-on-year decrease of 8.93% [2]. - The net profit attributable to shareholders was 622 million yuan, down 22.78% year-on-year [2]. - The net profit after deducting non-recurring gains and losses was a loss of 570 million yuan, a staggering decline of 584.54% year-on-year [2]. - The net cash flow from operating activities was a loss of 5.85 billion yuan, a decrease of 243.05% year-on-year [2]. Sales and Market Performance - The total sales volume for the year was 251,100 units, reflecting a year-on-year growth of 3.9%, but revenue did not increase correspondingly, indicating a decline in per-unit profit margins [2]. - FAW Jiefang's overseas market performance was strong, with exports reaching 57,000 units, a year-on-year increase of 27.4% [2]. Quarterly Breakdown - In Q1 2024, the revenue was 18.981 billion yuan with a net profit of 169 million yuan [2]. - In Q2 2024, the revenue was 16.621 billion yuan with a net profit of 309 million yuan [2]. - In Q3 2024, the revenue dropped to 9.533 billion yuan, resulting in a net loss of 115 million yuan [2]. - In Q4 2024, the revenue was 13.446 billion yuan with a net profit of 259 million yuan [2]. Asset and Liability Overview - As of December 31, 2024, total assets were 72.749 billion yuan, an increase of 6.85% year-on-year [3]. - Total liabilities were 46.155 billion yuan, up 7.24% year-on-year, resulting in a debt-to-asset ratio of 63.44%, which is considered reasonable [3]. Management Changes - Significant personnel changes occurred at the end of last year, with the former general manager Li Sheng promoted to chairman and former executive vice president Yu Changxin appointed as general manager [3].