Guangzhou Automobile Group (02238) posted a non-GAAP net loss of approximately 1.384 billion yuan in the first quarter, a year-on-year increase of 55.03%.

Guangzhou Automobile Group (02238) announced that in the first quarter of 2026, the operating income was approximately 20.39 billion yuan, a year-on-year increase of 1.98%; the net loss attributable to the shareholders of the listed company was 656 million yuan, a year-on-year narrowing of 10.29%; the non-recurring net loss was approximately 1.384 billion yuan, a year-on-year increase of 55.03%; and the basic loss per share was 0.06 yuan. The announcement stated that the increase in non-recurring net loss was mainly due to exchange rate changes leading to exchange losses in the reporting period, while in the same period of the previous year, there were exchange gains; the net amount of exchange losses increased compared to the same period of the previous year, and the issuance of green technology innovation bonds led to an increase in interest expenses, resulting in a comprehensive impact.