GAC Group (601238.SH, 02238.HK) released its 2021 first quarter report on April 29. According to its financial report, during the reporting period, GAC Group’s combined business revenue stood at about 16.024 billion yuan, an increase of 47.31% year on year; the net profit attributable to shareholders of listed companies in the first quarter, 2.366 billion yuan, an increase of 2.247 billion yuan compared with the same period in 2020 and a growth rate of 1896.65%; the net profit attributable to shareholders of listed companies excluding non-recurring gains and losses, 2.226 billion yuan, an increase of 2896.96% compared with the same period in 2020 and 0.72% compared with the same period in 2019.

In the first quarter of 2021, GAC Group timely coordinated chip supply and realized outstanding production and sale performances. In the first quarter, GAC Group sold 496,560 vehicles, up 62.2% from the same period in 2020 and 0.39% from the same period in 2019, ranking 4th in the industry in terms of passenger car sale. It is evident that GAC Group’s production and sale performances not only got rid of the haze of the COVID-19 pandemic in early 2020, but also made further development compared with 2019.