Beijing (ZXZC)- On January 30, Anhui Jianghuai Automobile Group Co., Ltd. (JAC Group), announced its anticipated 2023 annual financial results, forecasting a net profit attributable to shareholders of the parent company of approximately 136 million yuan for the year.

Photo credit: JAC Group

The remarkable growth, as highlighted by JAC Group, stems from seizing international market opportunities, prioritizing technological innovation, and implementing cost-effective measures. With a year-on-year surge of 18.4% in annual sales volume, and a 3-percentage-point rise in the main business gross profit margin compare to a year ago, the company attributes its success to these strategic initiatives.

The latest annual sales report indicates that JAC Group achieved an annual sales volume of 592,500 vehicles in 2023, 169,600 units of which were sold in overseas markets, which leapt 47.99% from the previous year. 

The company's dedication to intelligent new energy technologies in the passenger vehicle sector resulted in a 18.2% year-on-year increase in annual sales. Key releases, such as the JAC QX PHEV and the RF8 MPV, further solidify the company's commitment to innovation and sustainable growth.

In the realm of commercial vehicles, JAC Group's steadfast commitment to the new energy transition has resulted in positive year-on-year growth in sales across all categories. The strengthening of both domestic and international connections, coupled with substantial sales growth in the pickup and heavy-duty vehicle segments, signifies a promising trajectory for JAC Group in 2023.