Summary by Moomoo AI
In 2024, MEIDONG AUTO's revenue was 22.154 billion yuan, a year-on-year decrease of 22.4%. Affected by changes in the macroeconomic environment and intense competition in the automotive distribution Industry, a net loss of 2.259 billion yuan was recorded for the year, primarily due to the recognition of non-cash goodwill and intangible asset impairments totaling 2.911 billion yuan. The gross profit for the year was 1.561 billion yuan, a year-on-year decrease of 24.9%, with an overall gross margin declining by 0.3 percentage points to 7.0%. The Board of Directors proposed a final dividend of 0.0445 yuan per share.Revenue from new car sales decreased by 27.4% year-on-year to 17.726 billion yuan, primarily influenced by the high average discount rates in the luxury car market. Revenue...Show More
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