AutoBeta(AutoBeta.net)03/22 Report--

Great Wall Motor released its annual report for 2018, with total operating income of 99.23 billion yuan, down 1.92% from the same period last year. Net profit belonging to shareholders of listed companies was 5.207 billion yuan, up 3.58% from the same period last year. Net profit belonging to shareholders of listed companies after deducting non-recurring profits and losses was 3.889 billion yuan, down 9.53% from the same period last year; basic earnings per share was 0.5705 yuan, with a proposed cash dividend of 0.29 yuan per share.

For comparison, Geely earned 106.595 billion yuan in 2018, up 15% from a year earlier, while net profit rose 18% to 12.55 billion yuan, 7.343 billion yuan higher than Great Wall Motor.

The announcement said that during the reporting period, the group increased the preferential amount of products to benefit consumers, resulting in a slight decline in gross profit margin compared with the same period last year. Spending on Great Wall automobile research and development totaled 3.959 billion yuan in 2018, an increase of 17.66 percent over the same period last year.

Great Wall Motor sold 1.053 million vehicles in 2018, down 1.6% from the same period last year. In the face of the overall downturn in the Chinese car market, Great Wall still set a sales target of 1.2 million vehicles in 2019. Great Wall Motor made a good start in the first two months of this year, with sales totaling 180752 vehicles from January to February, an increase of 7.35% year-on-year and 15.06% of the 2019 sales target.

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