Changan Automobile Q1 Net Profit Plunges by 74%

[Financial Highlights] Changan Automobile reported a parent company net profit of RMB 351 million for Q1 2026, down 74.09% year-over-year.

Core Development: Foreign Exchange Gains Cause Significant Profit Volatility

Parent company net profit of RMB 351 million plunged 74.09% year-over-year, primarily due to substantial foreign exchange gains from exchange rate fluctuations in the same period last year. Excluding this factor, underlying profitability actually showed steady improvement.

Key Metrics: Slight Revenue Decline and Cash Flow Pressure

Q1 revenue stood at RMB 32.706 billion, down 4.26% year-over-year; operating cash flow was -RMB 11.647 billion, a sharp decline of 232.71% year-over-year; vehicle sales totaled 557,500 units, down 20.94% year-over-year.

Strategic Fundamentals: Cost Optimization Unable to Offset External Shocks

Administrative expenses decreased by 31.8%, but financial expenses surged by 129.26%, reflecting the significant impact of exchange rate volatility on profit structure.