HUAYU AUTOMOBILE 2023 results announced, revenue reaches 168.5 billion yuan

Huayu Automotive's 2023 performance report shows that the company achieved operating income of 168.594 billion yuan, an increase of 6.52% over the previous year. Net profit attributable to shareholders of listed companies reached 7.214 billion yuan, an increase of only 0.15%. The company's main source of income is vehicle customers other than SAIC Group, accounting for 53.82%. In addition, the supporting amount of new energy vehicle-related businesses accounted for more than 65%, and the supporting amount of domestic independent brands accounted for more than 40%. In terms of electric drive systems, Huayu Automotive Electric Systems Co., Ltd. has formed a full range of drive motor products covering 400V and 800V, and the sales volume of drive motors reached 360,000 units (sets) in 2023.