On October 29, GAC Group (601238. SH; 2238. HK) released its 2020 Q3 report. In the first three quarters this year, GAC Group recorded consolidated business revenue of about 42.846 billion yuan, up by 0.38% as compared with the same period of last year; net profits excluding non-recurring profits and losses and attributable to shareholders of the parent company of about 4.364 billion yuan, slightly up by 0.08% year on year.

By quarter, the business revenue and net profits excluding non-recurring profits and losses and attributable to shareholders of the parent company of GAC Group in the third quarter reached 17.407 billion yuan and 2.340 billion, up by 19.55% and 113.87% year on year. After the great shock of the COVID-19 epidemic to the entire automobiles industry in the first half of the year, GAC Group has got rid of the influence of the epidemic, and operation situation has recovered fully since the third quarter.