Summary by Moomoo AI
Peking Autos Co., Ltd. has issued a profit warning. According to the unaudited consolidated management accounts, the net profit attributed to equity holders of the company for the fiscal year 2024 is expected to be approximately RMB 0.95 billion, a significant decrease of about 68.6% compared to the same period in 2023. This performance change is primarily affected by intensified competition in the domestic Passenger Vehicle Industry, leading to a decline in the company's auto sales.The company stated that to enhance market competitiveness, it has increased investment in business policies during the period, which is also one of the key factors contributing to the decline in net profit. The company anticipates releasing the full-year earnings announcement for 2024 on March 28, 2025. The data currently disclosed are preliminary review results and may be adjusted after further internal review.
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