BAIC Motor (1958) H1 2026 earnings summary

Executive summary

• Sales volume for H1 2026 was 328,900 units, with consolidated revenue of RMB57.73 billion, down 29.9% year-over-year, and a net loss attributable to equity holders of RMB1.59 billion, reversing from profit in H1 2025.

• Gross profit dropped 51.3% year-over-year to RMB5,809.6 million, mainly due to price competition and sales decline.

• The Group accelerated its new energy strategy, launched new models, and deepened digital transformation and overseas expansion.

• No interim dividend was recommended or declared for the period.

Financial highlights

• Revenue decreased by 29.9% year-over-year to RMB57,725.7 million, mainly due to price competition and lower sales.

• Gross profit dropped 51.3% year-over-year to RMB5,809.6 million.

• Net loss attributable to equity holders was RMB1,593.9 million, with basic loss per share of RMB0.20.

• Net cash outflow from operating activities was RMB8,232.8 million, compared to an inflow of RMB1,961.0 million in H1 2025.

• Cash and cash equivalents at period end were RMB10,521.4 million.

Outlook and guidance

• The Group will focus on enhancing system value, expanding high-value product sales, and leveraging new energy and intelligent technologies.

• Plans include launching new luxury off-road and light off-road sub-brands and flagship new energy models in H2 2026.

• Beijing Benz to support new all-electric models; Beijing Hyundai to stabilize sales and boost exports; Fujian Benz to focus on quality and efficiency.

• The industry faces challenges from rising raw material costs and intensifying overseas competition.