Wuling Motors (HKG:0305) expects an attributable profit of 42 million yuan for the year 2024, up 79% from around 23.5 million yuan a year prior, a Wednesday filing by the new-energy vehicle company with the Hong Kong bourse said.

The higher anticipated profit came about despite a decline in revenue and was attributed mainly to the compensation rebate related to the supply of electric vehicle components, lower general and administrative expenses, a rise in government grants income, and a decline in shares of losses of associates.