Changes in Hong Kong stocks | Rantu Auto (07489) fell more than 4% in August, delivery volume fell year-on-month, and upstream costs dragged down profits in the first half of the year

The Zhitong Finance App learned that Rantu Auto (07489) fell by more than 4%. As of press release, it fell 4.29% to HK$2.565, with a turnover of HK$1,734,600.

According to the news, Rantu Auto announced yesterday that it will deliver 13,003 new cars in August, a slight decrease of about 3.7% year on year and a slight decrease of 1.4% month on month. Notably, this is the first time since February 2023 that Rantu has not achieved year-over-year growth.

On August 27 this year, Rantu Auto handed over its first semi-annual report since listing on the Hong Kong Stock Exchange. In the first half of this year, Rantu Auto achieved total revenue of 18.159 billion yuan, an increase of 42.4% over the previous year. However, gross margin narrowed from 21.4% in the same period last year to 17.7% during the period, and net profit changed from 464 million yuan to a net loss of 389 million yuan. The company mentioned in its financial report that the rise in raw material prices was the main reason.