On August 30, Great Wall Motor released the financial report data for the first half of this year. The report shows that the total revenue of Great Wall Motor in the first half of this year was 91.429 billion yuan, an increase of 30.67% compared with 69.971 billion yuan in the same period last year; the net profit in the first half of the year was 7.079 billion yuan, compared with 1.361 billion yuan in the same period last year, the net profit increased by 419.99% year-on-year; the non-net profit attributable to the parent company was 5.651 billion yuan, an increase of 654.04% year-on-year; the gross profit was 18.962 billion yuan, an increase of 60.82% year-on-year. Regarding the growth of net profit, the official said that it was mainly due to the growth of overseas sales and the further optimization of the domestic product structure, which led to a significant year-on-year increase in net profit in the first half of this year. In terms of sales volume, Great Wall Motor sold a cumulative 554,900 vehicles in the first half of this year, an increase of 6.95% year-on-year. Among them, the sales volume of new energy vehicles was 129,800 units, an increase of 44.89% year-on-year; It can be seen from the financial report data released by the official in the first half of the year that the growth of Great Wall Motor in the first half of the year is related to the successive launch of new models by its brands and the improvement of sales in the overseas market layout. Since this year, in order to increase sales, Great Wall Motor launched the Tank 700 Hi4-T model in February, and the new car price range was 428,000 – 700,000 yuan. In April, its Haval brand launched the new Haval H6. The new car launched a total of 5 models, and the price range was 117,900 – 143,900 yuan. The Wei brand’s New Mocha Hi4 was also refreshed and listed in May, with a price of 238,800 yuan. In addition, the official also launched the 2024 Euler Good Cat, 22.4T Great Wall Cannon and other models, and a few days ago, the pre-sale of the new generation Haval H9 was also started. With the layout of new models, it has also played a certain role in promoting the sales of Great Wall Motor. As is known to all, Great Wall has a total of five brands including Haval, Tank, Euler, Wei and Pickup. Among them, the Haval brand is the main source of sales for Great Wall Motor. The data shows that the cumulative sales volume of the Haval brand in the first half of this year was 299,700 units, an increase of 2.42% year-on-year. As Wei brand of Great Wall Motor’s entry into the high-end market, the cumulative sales volume in the first half of the year was 19,900 units, an increase of 9.46% year-on-year. The Tank brand had the largest growth rate of Great Wall Motor in the first half of this year. The cumulative sales volume in the first half of this year was 116,000 units, an increase of 98.94%. Currently, the Tank brand’s models on sale include Tank 300, Tank 400, Tank 500 and Tank 700. Among them, the sales volume of Tank 300 was the most outstanding, with a cumulative sales volume of 41,800 units in the first half of the year, accounting for nearly half of the Tank brand’s sales volume. The cumulative sales volume of the Euler brand in the first half of this year was 23,419 units, and most of the sales mainly came from the Euler Good Cat. The growth of the overseas market has brought a significant increase to the overall sales volume of Great Wall Motor. The data shows that the overseas market sales volume of Great Wall Motor in the first half of this year was 199,800 units, an increase of 62.09% year-on-year. Regarding the subsequent layout of the overseas market, the official said that it will focus on the “international new four modernizations” of localized production capacity, localized operation, cross-cultural brand and secure supply chain, promote the comprehensive going overseas of research, production, supply, sales and service, and plans to achieve overseas sales of more than one million units in 2030. It is worth noting that although the financial report data released by Great Wall Motor in the first half of this year achieved double growth in sales volume and revenue. But in fact, since June to July, only the sales volume of the Tank brand among several brands of Great Wall Motor has maintained a growth trend. The sales volume of several other brands has declined, and even the sales volume of some individual brands has declined significantly. For reference, Great Wall Motor sold 91,300 units in July, a year-on-year decline of 16.32%. Among them, the Haval brand, which was the sales support in July, sold 52,900 units, a year-on-year decline of 15.92%. The sales volume of Wei brand and Euler brand both halved in July. The sales volume of Wei brand was 2,765 units in July, a year-on-year decline of 58.43%. Euler’s sales volume in July was 4,780 units, a year-on-year decline of 52.75%. Great Wall Pickup’s sales volume in July was 12,028 units, a year-on-year decline of 24.07%. According to the official plan, the annual target for this year is 1.6 million units. From January to July, Great Wall Motor’s cumulative sales volume was 650,100 units, only completing 40% of the annual target. It is also difficult to achieve a sales volume of nearly one million in the following months.
Profits soared! Great Wall Motor’s financial report was announced
