GWM's Revenue in the First Half of 2021 Reached CNY 61.9 Billion

Rhea-AI Summary

Great Wall Motor Company Limited reported impressive first-half results for 2021, achieving a gross revenue of CNY 61.928 billion, representing a 72.36% year-on-year growth. The net profit surged to CNY 3.529 billion, a remarkable increase of 207.87%. Sales volume reached 614,389 vehicles, up 53.68%, while the average vehicle price rose to CNY 100,800, up 12.15%. GWM's overseas sales also hit an all-time high with a 133.24% growth, totaling 61,559 vehicles sold. The company aims for a goal of 1 million overseas vehicle sales by 2025.

Positive

• Gross revenue increased by 72.36% to CNY 61.928 billion.
• Net profit grew by 207.87% to CNY 3.529 billion.
• Sales volume rose by 53.68% to 614,389 vehicles.
• Average sales price of vehicles climbed by 12.15% to CNY 100,800.
• Overseas sales increased by 133.24% to 61,559 vehicles.

Negative

• None.

BAODING, China, Sept. 3, 2021 /PRNewswire/ -- On August 27, Great Wall Motor Company Limited released its first-half financial report of 2021. From January to June this year, the gross revenue of GWM reached CNY 61.928 billion, with a year-on-year growth of 72.36%; the net profit reached CNY 3.529 billion, with a year-on-year growth of 207.87%.

The revenue growth in pace with net profit growth can be attributed to GWM's steady increase in both the sales volume of finished automobile and the average sales price of a single vehicle. GWM's terminal sales have seen explosive growth in the first half of 2021, and 614,389 new vehicles have been sold, with a year-on-year sales growth of 53.68%. Its brand premium capacity has also been steadily improved, and the average sales price of a single vehicle reached CNY 100,800, with a year-on-year growth of 12.15%. The experience upgrade brought out by the continuous implementation of forward-looking technologies is also a key factor for the continuous increase of GWM's sales volume. In the first half of 2021, GWM invested nearly CNY 2.9 billion in science and technology research and development, with an increase of 63.15% compared with that for the same period last year. The investment has been used to accelerate the introduction of forward-looking technologies such as efficient fuel power, intelligent driving and intelligent cabin into new products, and to deepen the innovation of new energy and intelligent technologies.

Thanks to the outstanding performance of the 3rd Gen HAVAL H6, HAVAL JOLION, GWM POER, and other global models in overseas markets such as Russia, Australia, Chile, and South Africa, GWM's overseas sales hit new highs, with overseas sales volume totaling 61,559 vehicles in the first half of the year and a year-on-year growth of 133.24%, which further contributed to the steady growth of the half-year performance. Considering the great global market demand, GWM has put forward a new strategic goal of overseas sales volume totaling 1 million vehicles in 2025, and has made continuous efforts to this end. Recently, GWM and Daimler Group signed an agreement on the acquisition of the Erasemapolis factory in Brazil. This move will accelerate the development of GWM in the South American market. At the same time, GWM has also entered overseas markets including Nepal, Iraq and Brunei with its products such as the 3rd Gen HAVAL H6, HAVAL JOLION, and GWM POER, and continued to expand the market of South Asia, the Middle East and ASEAN.

Next, with the 2025 Strategy as the guiding principle and the transformation into a "global mobility technology company" as the goal, GWM will continue to make all-out efforts and overcome all difficulties to promote the continuous improvement of the product brand matrix and the scientific and technological R&D strength, deepen its global development, and try to achieve a new development peak.

View original content to download multimedia:https://www.prnewswire.com/news-releases/gwms-revenue-in-the-first-half-of-2021-reached-cny-61-9-billion-301368984.html

SOURCE GWM

FAQ

What were Great Wall Motor's revenue figures for the first half of 2021?

Great Wall Motor reported a gross revenue of CNY 61.928 billion for the first half of 2021.

How much did Great Wall Motor's net profit increase in the first half of 2021?

The net profit of Great Wall Motor increased by 207.87% to CNY 3.529 billion in the first half of 2021.

What was the sales volume for Great Wall Motor in the first half of 2021?

Great Wall Motor sold 614,389 vehicles, reflecting a year-on-year growth of 53.68%.

What is Great Wall Motor's target for overseas vehicle sales by 2025?

Great Wall Motor aims to achieve overseas sales of 1 million vehicles by 2025.