Guangzhou Automobile Group (2238) Q1 2026 earnings summary

Executive summary

• Revenue from operations for Q1 2026 increased by 1.98% year-over-year to RMB 20.04 billion.

• Net loss attributable to shareholders narrowed by 10.29% year-over-year to RMB -656 million.

• Net profit after non-recurring items declined sharply, reflecting significant one-off impacts.

Financial highlights

• Total profit for Q1 2026 was RMB -1.07 billion, a 16.28% improvement year-over-year.

• Basic and diluted EPS improved to RMB -0.06 from RMB -0.07 year-over-year.

• Net cash flow from operating activities improved significantly to RMB -3.25 billion from RMB -11.21 billion year-over-year.

• Total assets rose 4.15% from year-end 2025 to RMB 223.86 billion.

• Owners' equity attributable to shareholders decreased by 0.94% from year-end 2025.

Outlook and guidance

• Net profit improvement attributed to disposal of equity interest and valuation premium, offset by exchange losses and higher interest expenses from green bond issuance.

• Operating cash flow benefited from increased sales volume during the period.