JAC Motors Forecasts a Net Loss of RMB 1.68 Billion for 2025

[Earnings Forecast] JAC Motors expects a net loss attributable to shareholders of RMB 1.68 billion for 2025, representing a year-over-year reduction in losses of RMB 1.04 billion.

Key Data: Significant Drag from Joint Ventures

• -

  Non-GAAP net loss for 2025 is projected at RMB 24.70 billion;

• -

  Investment loss from Volkswagen Anhui amounts to RMB 10.8 billion;

• -

  Since its launch in May 2025, the Zunjie S800 has recorded 11,924 units in compulsory traffic insurance registrations.

Strategic Underpinnings: Export Pressure and Joint Venture Drag Coexist

• -

  Export business declined due to international geopolitical conditions and intensified overseas competition;

• -

  Volkswagen Anhui (75% owned by Volkswagen, 25% by JAC), serving as its NEV joint venture platform, reported its first-ever operating loss;

• -

  The premium brand Zunjie, co-developed by JAC and Huawei, aims to break through profitability constraints with million-yuan-class vehicles.