The Revenue of GWM in 2021 Exceeding CNY 136.3 Billion

Rhea-AI Summary

GWM reported a strong financial performance for 2021, with total revenue surpassing CNY 136.3 billion, reflecting a 31.95% year-on-year growth. The net profit reached CNY 6.781 billion, up by 26.45%. GWM sold 1.28 million vehicles globally, marking a 15.2% increase, and launched several new models to cater to diverse customer needs. The company also made significant investments in technology and opened new international subsidiaries, enhancing its global market presence. Notably, GWM's HAVAL brand was recognized in the Brand Finance Global 500 2022.

Positive

• Revenue increased to CNY 136.3 billion, a 31.95% growth.
• Net profit rose to CNY 6.781 billion, reflecting a 26.45% growth.
• Global vehicle sales reached 1.28 million, a 15.2% increase.
• Expansion into South America with new factory ownership.
• Investment of CNY 20 billion in R&D to develop intelligent platforms.
• HAVAL brand recognized in Brand Finance Global 500 2022.

Negative

• None.

BAODING, China, Feb. 8, 2022 /PRNewswire/ -- Recently, GWM announced that the total revenue in 2021 has exceeded CNY 136.3 billion, with 31.95% of growth year-on-year, and its net profit has reached CNY 6.781 billion, with 26.45% of growth year-on-year, which marks further expansion of GWM's market share.

In 2021, GWM sold 1.28 million new vehicles worldwide, with an increase of 15.2% year on year. The global sales have exceeded one million for sixth consecutive years and reached a new record. In 2021, GWM launched a variety of products globally, including the GWM POER, 3^rd generation HAVAL H6 and HAVAL JOLION, to meet different needs of all kinds of customers and further contribute to the growth of revenue.

The continuous expansion of the globalized market layout is an important reason for the revenue growth of GWM. In January 2022, GWM officially completed the transfer of the ownership of the Iracemapolis factory in Brazil, starting the intelligent and digital transformation and upgrading of the factory. It forms a strategic layout with Brazil as the fulcrum to cover the entire South American market. Previously, GWM had opened a subsidiary in Munich of Germany and set up a European headquarters to accelerate its strategy implementation in Europe. With the active development in the markets of South Asia, South America, Europe and North Africa, GWM has entered a new stage of globalization.

The huge investment in technology research and development is another core factor contributing to GWM's revenue growth. The company have invested CNY 20 billion into Intelligent platforms, including the L.E.M.O.N., TANK and Coffee Intelligence, which have brought to customers a large number of new vehicles, such as the HAVAL Shenshou(for the Chinese market) , WEY Latte DHT(for the Chinese market) and HAVAL DARGO to start a new product cycle globally. According to the "2025 Strategy", the total investment in R&D will reach CNY 100 billion in the next five years in order to enhance the level of electrification and intelligentization.

Currently, GWM has set up overseas R&D centers in Japan, the US, Germany, India, Austria and South Korea, and actively attracted global talents to form the global R&D system to accelerate the transformation into a global intelligent technology company.

The excellent performance of GWM in revenue has further boosted the brand value. Recently, GWM's HAVAL brand was included in the list of "Brand Finance Global 500 2022" for the first time, released by Brand Finance, an international authoritative brand value assessment agency. This shows that the brand value of Chinese automobiles has won international recognition.

Based on such good performance on the yearly revenue, GWM will continue to concentrate on electrification and intelligentizion in 2022. The company plans to launch and deliver WEY Coffee 01, ORA GOODCAT, HAVAL H6 PHEV and models of the TANK Brand in overseas markets to promote the development of globalized products and accelerate the implementation of the 2025 strategic goals.

 

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SOURCE GWM

FAQ

What were GWM's total revenue and net profit in 2021?

GWM's total revenue in 2021 was CNY 136.3 billion and net profit was CNY 6.781 billion.

How much did GWM's vehicle sales increase in 2021?

GWM's vehicle sales increased by 15.2% in 2021, totaling 1.28 million vehicles.

What strategic developments did GWM undertake in 2022?

GWM started the digital transformation of its Brazilian factory and opened a subsidiary in Germany.

How much is GWM investing in R&D in the next five years?

GWM plans to invest CNY 100 billion in R&D over the next five years.

What recognition did GWM's HAVAL brand receive recently?

HAVAL was included in the Brand Finance Global 500 2022 list for the first time.