CIMC Vehicles (Group) Full Year 2024 Earnings: Misses Expectations

March 30, 2025

CIMC Vehicles (Group) (SZSE:301039) Full Year 2024 Results

Key Financial Results

Revenue: CN¥21.0b (down 16% from FY 2023).
Net income: CN¥1.09b (down 56% from FY 2023).
Profit margin: 5.2% (down from 9.8% in FY 2023). The decrease in margin was driven by lower revenue.
EPS: CN¥0.56 (down from CN¥1.22 in FY 2023).

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revenue-and-expenses-breakdown — SZSE:301039 Revenue and Expenses Breakdown March 30th 2025

All figures shown in the chart above are for the trailing 12 month (TTM) period

CIMC Vehicles (Group) Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 8.3%. Earnings per share (EPS) also missed analyst estimates by 19%.

The primary driver behind last 12 months revenue was the Sales of Vehicles segment contributing a total revenue of CN¥18.0b (86% of total revenue). Notably, cost of sales worth CN¥17.6b amounted to 84% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to CN¥1.14b (50% of total expenses). Explore how 301039's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Machinery industry in China.

Performance of the Chinese Machinery industry.

The company's shares are up 1.7% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 2 warning signs for CIMC Vehicles (Group) that you should be aware of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.