GAC Group announced the first quarter report of 2022 on April 27. During the reporting period, the Company achieved a total operating income of RMB 23.145 billion, a year-on-year increase of 45.67%; net profit attributable to the parent Company was RMB 3.009 billion, a year-on-year increase of 27.17%.

In the first quarter of this year, the domestic auto market was affected by negative factors such as multipoint frequent outbreak of COVID-19, increase in raw material price, with the profitability of auto companies greatly suppressed. However, GAC still handed in a satisfactory answer sheet. While achieving year-on-year positive growth in production and sales, the Group reaped a rise in both revenue and profit, fully demonstrating its ability to flexibly to respond to various risks and challenges, and adjust business ideas in a timely manner to ensure business performance.

This year is very critical for the “14th Five-Year” Plan. GAC will spare no effort to strive for the goal of increasing production and sales by 15%. The group and its subsidiaries are still making efforts to achieve this goal. A number of vehicles with high product competitiveness are rolled out one after another, accelerating the production of electric vehicles and achieving steady, high-speed development.