GREAT WALL MOTOR CO ADR - GWLLY STOCK NEWS

On March 15, GWM launched its new global pickup model, POER KINGKONG, at the GWM Brand Model Conference in Riyadh, Saudi Arabia. This model, designed for the Middle East market, features an upgraded design with a large grille and efficient 2.0T engine. GWM has sold over 2 million pickup trucks globally, with POER achieving cumulative sales exceeding 400,000 units since its launch just over three years ago. The POER model has won multiple awards for quality and safety. GWM aims to continue expanding its product lineup in the global market, with POER KINGKONG expected to launch in additional markets this year.

XPeng Inc. (XPEV) announced its Q4 and fiscal year 2022 financial results, revealing a 39.9% decrease in quarterly revenues to RMB5.14 billion (US$0.75 billion) and 46.8% drop in vehicle deliveries to 22,204 units. Yearly vehicle deliveries rose 23.0% to 120,757, with total revenues at RMB26.86 billion (US$3.89 billion), marking a 28.0% annual increase. However, gross margin fell to 11.5%, and net losses expanded to RMB9.14 billion (US$1.33 billion). The company projects Q1 2023 deliveries between 18,000 and 19,000, with revenues expected to decline further.

On March 14, 2023, GWM launched its Hi4 (Hybrid Intelligent 4WD) platform during Intelligent NEV Day in Baoding, China. This innovative hybrid technology aims to enhance efficiency across various driving conditions. The Hi4 platform features two powertrains with a maximum power of 340 kW and an impressive thermal efficiency of 41.5%. With a pure electric range exceeding 100km and fast charging capabilities, the platform incorporates advanced technologies such as a new e-hybrid architecture and intelligent Torque Vectoring Control (iTVC), improving performance, stability, and safety. GWM's Hi4 is positioned to significantly impact the hybrid SUV market, appealing to efficiency-conscious consumers.

On March 10, 2023, GWM hosted the Intelligent NEV Day, showcasing advancements in new energy vehicle technologies. President Mu Feng announced the new brand declaration focused on efficiency, range, and safety. GWM revealed its upgraded Hi4 hybrid technology, set to launch its first model in April 2023. The new system integrates hybrid, intelligent, and four-wheel drive capabilities. GWM aims to equip its new energy product line with electric four-wheel-drive tech by 2024. The company emphasizes a user-centered approach while pursuing carbon neutrality goals, enhancing its position in China's new energy industry chain.

GWM has disclosed remarkable growth in its patent portfolio, reporting a total of 6,042 patent disclosures and 4,652 authorizations in 2022, representing increases of 62.86% and 42.87%, respectively. In the new energy vehicles (NEV) sector, GWM ranks first in China with 1,966 patent disclosures, a 51.11% rise, and 1,650 authorizations, up 80.53%. The company emphasizes R&D, investing CNY 8.544 billion in the first three quarters of 2022, a 64.74% increase year-on-year. GWM aims to accumulate CNY 100 billion in R&D investment by 2025, focusing on new energy and intelligent technologies to enhance product innovation.

GWM recently showcased its new energy vehicles in Australia, emphasizing its commitment to the NEV market. The HAVAL H6 HEV's sales growth positions it as a popular hybrid choice among consumers. The event also marked the debut of the GWM ORA series, which received positive media feedback for its design and performance. The GWM TANK300 continues to captivate Australian customers with its off-road capabilities. Following the event, GWM organized a dealer conference to strengthen market confidence. The company plans to introduce more NEV models, including the GWM TANK and ORA series, in Australia throughout 2023.

GWM reported robust preliminary earnings for 2022, achieving 137.351 billion CNY in operating revenue, marking its fourth consecutive year over 100 billion CNY. Net income attributable to shareholders rose by 23.09% to 8.279 billion CNY. The company also excelled in overseas sales, selling 173,200 units, a 21.28% year-on-year increase. The average price per vehicle increased by 20.8% to 128,700 CNY, with a significant rise in higher-end model sales. GWM continues to invest heavily in R&D and plans to launch over 10 new energy products in 2023, aiming for annual sales of 1.6 million units.

On January 16, 2023, a documentary aired showcasing GWM's advancements in hybrid technology, power batteries, and global strategy. Despite challenges in the automobile market, GWM made strides in its globalization strategy in 2022, heavily investing in technology R&D, totaling over CNY 8.5 billion, a 64% year-over-year increase. GWM introduced new energy products and entered luxury markets with its WEY brand, achieving high safety ratings. Additionally, the company is advancing in hydrogen energy, earmarking CNY 2.5 billion for fuel battery vehicle production, positioning itself as a leader in the intelligent technology sector.

In 2022, GWM achieved global sales of 1,067,523 units, surpassing one million for the seventh consecutive year. Sales outside China totalled 173,180 vehicles, reflecting a year-on-year increase of 21.28%. GWM's focus on new energy vehicles paid off, with sales exceeding 610,000 units, particularly for HAVAL, which launched multiple HEV/PHEV models. GWM Pickup also saw sales exceed 180,000 units. The company plans to launch over ten intelligent new energy vehicles in 2023, reinforcing its position in global markets.