Decline in commercial vehicle revenue affects total revenue, Wuling Motors' net profit turns positive

According to news on August 24, Wuling Motors released its interim performance report for the first half of the year yesterday. Data show that total revenue in the first half of the year reached 5.089 billion yuan, a decrease of 18.9% compared with the same period last year. However, what is gratifying is that the net profit was 12.26 million yuan, which was a significant improvement from the net loss of 1.39 billion yuan in the same period last year.

The report pointed out that Wuling Motors’ commercial vehicle segment revenue declined, while the automotive power system segment and auto parts and other industrial services segment revenue also declined. A moderate decline. Together, these factors impact the company's total revenue.

In addition, according to the editor's understanding, Wuling Motors specifically mentioned in its financial report that measures related to the restructuring of the new energy vehicle business and cost control led to a reduction in expenses during the period and had a positive impact on net profit. This is also one of the key factors that led to the company's net profit turning around.

Based on the above data and information, Wuling Motors achieved encouraging performance in the first half of 2023. Despite the decline in total revenue, the growth in net profit shows that the company has made significant progress in operations and management. Compared with the same period last year, the company's financial condition has improved significantly, which has laid a stronger foundation for its future development.

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