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In July, when Great Wall Motor celebrated its 30th birthday, Chairman Wei Jianjun kept asking himself, "will Great Wall Motor survive next year?" in a "micro movie". There was no celebration atmosphere at all. Under the double influence of the decline in the market and the epidemic situation, the largest car companies of Great Wall Motor have been seriously affected, to sales and revenue decline.

But as the global auto market gradually recovers, Great Wall has shown clear signs of picking up, especially in its recently released third-quarter results. According to its financial results for the third quarter of 2020, Great Wall Motor achieved a total operating income of 26.21 billion yuan in the third quarter, an increase of 23.6% over the same period last year and 11.5% over the same period last year. The net profit attributed to the parent company was 1.44 billion yuan, up 2.9% from the same period last year, and the gross profit margin was 19%, up 0.5% from the same period last year.

In the first three quarters, Great Wall Motor achieved a cumulative operating revenue of 62.14 billion yuan, which is close to the data for the same period last year (62.578 billion yuan), a slight decrease of 0.69% from the same period last year. This is not easy under the influence of many adverse factors, such as epidemic situation, market adjustment, and so on.

This is also due to the fact that the launch of new products has helped sales continue to pick up. Great Wall's Harvard, WEY, Euler and Great Wall pickup brands have ushered in the debut and launch of new models one after another. Although many models are still not on the market or have just been launched, there are also models such as Great Wall Gun under the Great Wall pickup truck, which successfully help brands catch up with data once they are launched.

At present, a number of new models have been successfully unveiled, including the third generation Harvard H6, Harvard Dog, Harvard first Love, WEY Tank 300, VV7 GT brabus, Euler Cat Family, Chao School, Great Wall Gun modified model Black bomb, Electric Gun and other new models.

With the strong support of product power, the sales of Harvard, WEY, Euler and Great Wall pickup trucks all increased significantly in the third quarter compared with the same period last year. Among them, Harvard brand sold 183000 vehicles in the third quarter, up 8.5% year on year, 24000 vehicles, up 3% over the same period last year. Euler and Great Wall pickup trucks rose strongly, up 179.9% and 93.2% respectively in the third quarter, leading their respective market segments in an all-round way.

At the same time, R & D spending on new product models also increased, with R & D expenses totaling 1.9 billion yuan in the first three quarters, an increase of 28.5% over the same period last year, of which R & D expenditure in the third quarter was 670 million yuan, an increase of 21.3% over the same period last year. The successful launch of three major technology brands such as "Lemon", "Tank" and "Coffee Intelligence", as well as new cars based on brand-new technology platforms such as the third generation Harvard H6, Harvard Dog and Tank 300, will further boost brand sales figures in the future.

For this reason, under the trend of the new platform product matrix Huanxin gathering, brand marketing visualization and scene upgrading, as well as the trend that Great Wall Motor achieved revenue and sales leadership in the third quarter of this year, Great Wall Motor shares soared all the way in the A-share market, with a total market capitalization exceeding 200 billion yuan.

As we all know, in the current environment of increasing competition in the automobile industry and accelerating the reshuffle of the industry, car companies that do not have core competitiveness will face collapse one by one. According to Wei Jianjun, Great Wall Motor has developed rapidly in the past 30 years, but in the face of great changes in the current market, in the face of the global economic downturn, new car-building forces, and the "sandwiched attack" of foreign brands, coupled with the superimposed impact of the epidemic, the future development prospect of Great Wall Automobile is not optimistic.

In this regard, when Great Wall Motor ushered in "standing at the age of thirty", Wei Jianjun chose to have an insight into the development trend of the industry, replaced celebration with reflection, and clearly put forward the goal of transformation to a "global science and technology travel company", and embarked on the journey of self-reform. a number of achievements, including product and marketing innovation, have been achieved, which fundamentally endow Great Wall with full growth in sales, performance and market capitalization.

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