Anhui Jianghuai Automobile Group Corp (600418) Q2 2025 earnings summary

Executive summary

• Revenue for H1 2025 was RMB 19.36 billion, down 9.10% year-over-year; net loss attributable to shareholders was RMB -772.81 million, compared to a profit of RMB 300.83 million in H1 2024, mainly due to intensified international competition and high-end NEV ramp-up phase.

• Total vehicle sales were 190,600 units, down 7.54% year-over-year; passenger car sales fell 16.12%, while pickup sales rose 15%.

• The company is accelerating its transformation toward high-end intelligent NEVs, with the launch of the Zunjie S800 in May 2025 and increased R&D investment.

Financial highlights

• Operating income: RMB 19.36 billion, down 9.10% year-over-year.

• Net loss attributable to shareholders: RMB -772.81 million, compared to a profit of RMB 300.83 million in H1 2024.

• Operating cash flow: RMB -3.15 billion, a significant decrease from RMB 606 million in H1 2024.

• Basic and diluted EPS: RMB -0.35, down from RMB 0.14 year-over-year.

• Gross margin: 9.0% (calculated from disclosed data).

Outlook and guidance

• The company expects continued pressure from international market competition and industry profitability.

• Focus remains on high-end NEV ramp-up, product structure optimization, and global market expansion.