HK Stock Market Move | BAIC MOTOR (01958) fell more than 9%, with a net loss of approximately 830 million yuan in the first quarter, and revenue decreased by nearly 26% year-on-year.

BAIC MOTOR (01958) fell more than 9%, as of press time, it fell 9.27% to 1.37 Hong Kong dollars, with a turnover of 151.646 million Hong Kong dollars. On the news front, on the evening of April 27, BAIC MOTOR announced its first quarter performance in 2026, with total operating income of about 31.412 billion yuan, a year-on-year decrease of 25.99%; the net loss attributable to owners of the parent company was about 830 million yuan, turning from profit to loss year-on-year. Bank of America Securities previously mentioned in a research report that BAIC MOTOR's net profit in 2025 was 123 million yuan, in line with the earlier preliminary performance announcement. In response to the fourth-quarter performance, the bank raised revenue forecasts for 2026 and 2027 by 2% each, mainly due to higher forecasts for sales of BAIC's own-brand vehicles. However, considering the intensified competition and increased discounts, it lowered the gross profit margin forecasts by 1.3 percentage points for the same period. Overall, profit forecasts for 2026 and 2027 were revised down by 7% and 34% respectively.