The Operating Revenue of GWM in 2022 Exceeds CNY 137.3 Billion

Rhea-AI Summary

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.

Positive

• Record operating revenue of 137.351 billion CNY for 2022.
• Net income rose by 23.09% to 8.279 billion CNY.
• Overseas sales hit a record of 173,200 units, up 21.28%.
• Average vehicle price increased by 20.8% to 128,700 CNY.
• Sales of higher-end models increased, with 15.27% above 200,000 CNY.
• Strong investment in R&D continues to support technological advancements.
• Launch of over 10 new energy products expected in 2023.

Negative

• None.

BAODING, China, Feb. 6, 2023 /PRNewswire/ -- On February 2, GWM released Preliminary Earnings Estimate of 2022: GWM achieved a record high in the operating revenue. With the 137.351 billion CNY in 2022, it has exceeded 100 billion CNY for the fourth year, while the 8.279 billion CNY of the net income attributable to shareholders shows a year-on-year increase by 23.09%.

In the complex and ever-changing environment in 2022, GWM has still achieved record highs in revenue and overseas sales, substantial growth in profits, continuous optimization of product mix, and brand premiumization, keeping in a sustainable and healthy trend.

The overseas sales of GWM also made a record high. The 173,200 units sold overseas in 2022 shows a year-on-year increase by 21.28%. The "ONE GWM" global brand strategy announced in 2022 will continue to promote the expansion of its global market.

In 2022, the upgrading of the product mix and the increase of the brand value are remarkable. The average price per unit by 128,700 CNY shows a year-on-year increase of 20.8%, with the sales ratio of models above 200,000 CNY increasing to 15.27%. The penetration rate of intelligent models has reached 86.17%.

The excellent product mix comes from the investment insistence in strong technology R&D. Under the longstanding principle of over-investment in R&D, GWM aims to achieve the complete ownership of the core technology. The real strength of the "Technology GWM" will continue to be consolidated to build a more solid forest ecosystem and inject new energy and intelligent technology into more models.

In the new energy field, GWM continued to advance pure electric, hybrid, and hydrogen technologies, ushered in the first upgrade of the intelligent DHT, and launched more than 10 new energy products such as the HAVAL H6 PHEV, WEY Coffee 01, and some new models of ORA. As the accelerating intelligence in the field in 2022, the sales of vehicles equipped with Coffee Intelligence exceeding 200,000 units, and the cumulative mileage of the Coffee Intelligence assisted driving system exceeding 25 million kilometers.

In 2023, by putting more focus on the main channels of the auto market, GWM will be more user-centered to directly meet their needs with a comprehensive renewal. Over 10 more new energy products are expected to be launched throughout the year.

GWM will further promote the transformation of the marketing system, by focusing more on superior resources and strengthening strategic coordination. Especially in terms of brand strategy, it will deepen "ONE GWM" for comprehensive remodeling. In 2023, the company will continue to take technology as the base to steadily improve product strength, and stimulate system efficiency with innovation, trying to sprint for the annual sales target of 1.6 million units.

 

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SOURCE GWM

FAQ

What is GWM's preliminary earnings estimate for 2022?

GWM's preliminary earnings estimate for 2022 shows an operating revenue of 137.351 billion CNY, exceeding 100 billion CNY for the fourth consecutive year.

How much did GWM's net income increase in 2022?

GWM's net income attributable to shareholders increased by 23.09% to 8.279 billion CNY in 2022.

What were GWM's overseas sales figures for 2022?

In 2022, GWM achieved overseas sales of 173,200 units, reflecting a 21.28% increase year-on-year.

What is the average price per vehicle sold by GWM in 2022?

The average price per vehicle sold by GWM in 2022 was 128,700 CNY, marking a 20.8% increase from the previous year.

What are GWM's plans for new energy products in 2023?

GWM expects to launch over 10 new energy products throughout 2023, as part of their strategic focus.

What is GWM's sales target for 2023?

GWM aims for an annual sales target of 1.6 million units in 2023.