Dongfeng posts first net loss as ventures with Japan carmakers slump

GUANGZHOU — Dongfeng Motor Group has logged its first full-year net loss since the major state-owned Chinese automaker’s 2005 listing in Hong Kong, dragged down by plunging profits from joint ventures with Japanese partners.

The company reported Thursday a 3.9 billion yuan ($540 million) loss for 2023, reversing the year-earlier 10.2 billion yuan profit.