Recently, GAC Group released its 2023 annual report. During the reporting period, GAC Group achieved aggregated total revenue of approximately 502.3 billion RMB and consolidated total operating revenue of approximately 129.7 billion RMB, a year-on-year increase of 17.62%. During the reporting period, GAC Group achieved vehicle production and sales exceeding 2.5 million units. The production and sales of independent brands exceeded 890,000 vehicles, accounting for 35.4% of total sales. New energy vehicle sales accounted for nearly 22% of the entire group, and new energy vehicle sales among self-owned brands accounted for approximately 58%. New energy vehicle sales increased by 77.55% year-on-year. In addition, GAC Group announced that it plans to distribute a final dividend of 1 RMB(tax included) for every 10 shares to all shareholders. The planned dividend for the year is approximately 1.57 billion RMB, with a dividend payout rate of nearly 36%. On the same day, it also announced for the first time that it planned to repurchase A+H shares for a total of 500 million to 1 billion RMB.
“GAC Trumpchi Shadow Leopard”
“GAC AION S MAX”
Specifically, GAC Trumpchi’s annual production and sales exceeded 400,000 vehicles, a year-on-year increase of 8.24% and 12.12%, achieving both revenue and profit growth. Trumpchi has implemented hybridization of its entire range of models, with sales of over 45,000 hybrid electric vehicles (HEVs). Sales of MPV models were 164,200 units, a year-on-year increase of 59%. GAC Aion achieved production and sales of 500,000 vehicles and 480,000 vehicles, a year-on-year increase of 82.84% and 77.02% respectively.
“Toyota Veranda plug-in hybrid version”
“Honda Accord plug-in hybrid version”
In 2023, GAC’s joint venture brands will accelerate their electrification and intelligent transformation. GAC Toyota’s annual production and sales will exceed 950,000 vehicles, with new energy and energy-saving vehicles accounting for 33%. Guangqi Honda’s cumulative production and sales have exceeded 10 million units over the years, and its vehicle exports have exceeded 20,000 units throughout the year. In 2024, GAC Group will continue to increase the proportion of new energy and energy-saving vehicles, and strive to achieve sales of more than 1 million self-owned brands and increase total sales by 10%.
“The first batch of exported vehicles from GAC Aion are shipped to Laem Chabang Port in Thailand by sea”
In terms of exports, GAC Group will export 75,800 vehicles in 2023, a year-on-year increase of 130%, including 55,000 vehicles of its own brands. The market covers 41 countries and regions, and it has 236 overseas sales and service outlets. It has initially achieved complete vehicle exports and local sales. Production in parallel. GAC has deployed multiple assembly plants in Africa and Southeast Asia, among which the first batch of vehicles have been delivered off the assembly line in Nigeria and Tunisia. Construction of GAC’s Aion Thailand factory has started, and the first phase is scheduled to be completed in July this year. In 2024, GAC Group will accelerate the completion and commissioning of assembly plants in Thailand, Malaysia and other countries, continue to promote the Southeast Asian market layout, and focus on markets such as Saudi Arabia, Russia, and Mexico. In 2024, GAC will add about 200 new overseas outlets and strive to achieve the annual overseas sales target of over 150,000 vehicles.
“GAC Charging Station”
In terms of the layout of charging and swapping stations, GAC has created a full-scenario energy replenishment system that “combines speed and slowness, complements charging and swapping, and interacts with vehicle and network”. It has built and operated 930 charging stations across the country, with more than 6,855 charging terminals and 62 battery swapping stations, covering 159 cities. In 2024, GAC Group will further accelerate the ramp-up of Yinpai battery production capacity and continue to expand the energy replenishment network. It plans to add 5,000 fast charging terminals and 30 battery swap stations across the country, and build 2,000 charging stations and 500 battery swap stations by 2025. .
