广汽集团：3Q miss; new models, cost cut as key in FY25

31 Oct 2024 Earnings Summary CMB International Global Markets | Equity Research | Company Update GAC Group (2238 HK) 3Q miss; new models, cost cut as key in FY25 GAC posted the largest quarterly net loss (RMB1.4bn) in 3Q24 since at least 2013, partly due to the FX loss and lower government grants. Management is determined to revive its homegrown brands with a plethora of new models in 2025. The market demand for GAC Toyota and GAC Honda has also recovered a bit recently aided by the peak season and stimulus ...