GWM 2022 Annual Performance Report: 12.18 billion CNY R&D investment, up 34%

Rhea-AI Summary

GWM released its 2022 annual report on March 30, 2023, highlighting a total operating revenue of 137.34 billion CNY and a net profit attributable to shareholders of 8.27 billion CNY, marking a 22.90% increase year-on-year. The company invested 12.18 billion CNY in research and development, reflecting a 34.34% rise, accounting for 8.87% of total revenue. GWM is positioned as a leader in the intelligent and new energy automotive sectors with a comprehensive industrial chain. Innovations such as the new intelligent four-wheel drive hybrid technology, Hi4, are set for rollout in upcoming models. GWM's strategy emphasizes sustainability and technological advancement in the rapidly evolving automotive landscape.

Positive

• Total operating revenue rose to 137.34 billion CNY.
• Net profit increased to 8.27 billion CNY, a 22.90% year-on-year growth.
• R&D investment climbed to 12.18 billion CNY, up 34.34%, representing 8.87% of revenue.
• Established a comprehensive industrial ecosystem in new energy and intelligent automotive technology.
• New intelligent four-wheel drive hybrid technology, Hi4, to enhance product offerings.

Negative

• None.

BAODING, China, April 6, 2023 /PRNewswire/ -- On March 30, GWM released its 2022 annual report. In 2022, the total operating revenue of GWM was 137.34 billion CNY. The net profit attributable to shareholders of listed companies was 8.27 billion CNY, a year-on-year increase of 22.90%.

In 2022, GWM maintained a healthy and sustainable financial situation by accelerating the pace of intelligent and new energy transformation, releasing product potential and market momentum. And it has made progress in new energy, intelligence, globalization, and system transformation.

In 2023, the company will continue to take technology development as the foundation, take global development as the wing, adhere to the new energy declaration of "Greener, Higher, Safer", let conscientiousness and honesty be the essence of car-making, let core technology lead as the essence of competition, and let technology realize equal rights for all people.

Under the background of the intelligent and the new energy revolution in the industry, GWM continued to strengthen scientific and technological innovation. In 2022, the company invested 12.18 billion CNY in research and development, a year-on-year increase of 34.34%, accounting for 8.87% of the total operating revenue. It continued to strengthen research and development capabilities, consolidate its foundation with technological innovation, and further enhance its core competitiveness.

As the only automotive company in China and the only one of two in the world that has completed a flat, networked, and decentralized layout of the entire industrial chain in the two major fields of energy and intelligence, GWM has established a forest ecosystem with multiple species interacting and continuously evolving, forming a complete industrial layout, achieving independent control of core technologies and efficient collaboration of organizational systems.

In the field of new energy, GWM has established a parallel development strategy of hybrid, pure electric, and hydrogen energy, with multiple technological routes. It has built an industry-leading energy system of "photovoltaic + distributed energy storage + centralized energy storage", and completed the entire value chain layout of "solar energy - battery - hydrogen energy - vehicle power".

The recently released new intelligent four-wheel drive hybrid technology Hi4 has achieved a "new configuration" of three power sources with dual axis distribution, a "new breakthrough" in iTVC intelligent torque vector control system, and a "new height" in electromechanical coupling transmission systems. This technology will be first applied on the newly launched HAVAL new energy model, and the full range of new energy products from GWM will also be fully popularized in 4WD by 2024.

In the future, in the face of increasingly fierce market competition, GWM forest ecosystem will continue to exert its strength, comprehensively deploy intelligent new energy fields with new sequences, new channels, new models, new technologies, and new products, to continuously improve its product mix and meet the diverse needs of consumers.

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SOURCE GWM

FAQ

What were GWM's 2022 annual revenue and profit figures?

GWM's total operating revenue for 2022 was 137.34 billion CNY, and the net profit was 8.27 billion CNY.

How much did GWM invest in R&D in 2022?

GWM invested 12.18 billion CNY in research and development in 2022, a year-on-year increase of 34.34%.

What new technology is GWM launching in 2023?

GWM is launching the new intelligent four-wheel drive hybrid technology, Hi4, in its next energy model.

What strategies is GWM implementing for future growth?

GWM focuses on advancing new energy technologies and enhancing its industrial ecosystem to meet competitive market demands.

How did GWM perform compared to the previous year?

GWM's 2022 results showed significant growth with a 22.90% increase in net profit compared to the previous year.