FAW Jiefang Group: Net profit dropped 96% year-over-year as revenue fell and industry competition intensified
· Issued by Faw Jiefang Group Co., Ltd Class A
Operating income fell 23% year-over-year to CNY 28.08 billion, with net profit plunging 96% to CNY 19.66 million. The company saw strong cash flow and asset growth but faced sharp profit declines amid intense competition and industry transition to new energy.
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