AutoBeta(AutoBeta.net)07/24 Report--

On July 24, Great Wall Motor announced that the position of General Manager of Great Wall Motor had been changed. Wang Fengying, general manager of Great Wall Motor, stepped down as general manager, and Mu Feng took over the position.

According to the Great Wall Automobile announcement, the board of directors received a written resignation report from Ms. Wang Fengying, general manager of Great Wall Motor. Ms. Wang Fengying applied to resign as general manager of the company due to job adjustment, and Ms. Wang Fengying will continue to work in strategic management related to the company. Ms. Wang Fengying has confirmed that they have no disagreement with the Board of Directors of the Company and that there are no matters relating to her resignation that need to be brought to the attention of the shareholders of the Company and the Exchange.

According to public data, Wang Fengying was born in October 1970 and graduated from Tianjin Institute of Finance and Economics in 1999. In 1991, Wang Fengying joined Great Wall Motor, responsible for the company's marketing management, and then served as Vice Chairman, Executive Director, General Manager and General Manager of Baoding Great Wall Automobile sales Co., Ltd. In January 2022, Wang Fengying will resign as executive director, vice chairman and member of the Strategy and Sustainable Development Committee of Great Wall Motor Company and continue to serve as General Manager of Great Wall Motor Company. Wang Fengying will no longer serve as executive director and vice chairman of Great Wall Motor Company.

According to the contents of the announcement today, after the fourth nomination Committee of the Seventh Board of Directors of the company and the consideration of the directors of the company, the board of directors agreed to change the general manager, agreed to nominate Mu Feng as general manager, and Mu Feng will sign a service agreement with the company. the term of office is from the date of examination and approval of the board of directors to the expiration of the seventh session of the board of directors, and the board of directors is authorized to determine his remuneration in accordance with Mu Feng's work and responsibilities. According to the announcement, Mu Feng, 47, is currently mainly responsible for the overall management of the company. He joined Great Wall Motor in 2007. He was in charge of Great Wall Automobile Research and Development, Commodity Strategy and vehicle Business. At the same time, he is responsible for managing the company's technology research and development branch, and serves as the executive director and legal representative of the company's wholly-owned subsidiary Shanghai Great Wall Automotive Technology Co., Ltd. Executive director, manager and legal representative of Hebei Xiongan Great Wall Automotive Technology Co., Ltd., and executive director and legal representative of Zhangjiagang Great Wall Automobile Research and Development Co., Ltd.

Great Wall Automobile, founded in 1984, is one of the well-known independent brand car companies in China. At present, Great Wall Motor mainly focuses on the vehicle business, with five sub-brands with different positioning, namely, Harvard, WEY, Euler, Tank and Great Wall pickup trucks, and the new independent automotive technology company Salon Zhihang incubated by Great Wall Motor, involving three categories of products including SUV, cars and pick-up trucks. Among them, Harvard brand was founded in 2013 to position as "China's SUV global leader"; Wei Brand was established in 2016 to position "new generation smart cars"; Eula brand was founded in 2018 to position "global car brands that love women more"; Great Wall pickup truck positioning "pickup leader"; tank brand announced its official independence in 2021, positioning "tide play cross-country SUVs" In addition, Sharon Automobile is a new high-end automobile project planned by Great Wall at the end of 2020 and a new energy vehicle brand of "hydrogen and electric dual energy". It was officially launched at the Guangzhou Auto Show in 2021. The first model is an intelligent pure electric model that is located at more than 400000 yuan.

According to the pre-increase announcement of Great Wall Motor's financial results for the first half of 2022, the net profit belonging to shareholders of listed companies in the first half of the year was 53-5.9 billion yuan, an increase of 17.7-2.37 billion yuan over the same period last year, or 50.20%, 67.20% year-on-year. Great Wall Motor said in its announcement that the increase in performance during the reporting period was mainly due to the company's improved product mix, higher bicycle prices, higher gross profit margin and gross profit margin, as well as increased exchange earnings. However, the company is determined to transform to a global intelligent technology company to promote the development of new energy and intelligence, resulting in an increase in R & D investment and equity incentive fees compared with the same period last year.

In terms of sales, the latest figures show that Great Wall Motor Group sold 518000 vehicles in the first half of this year, reaching 27.3% of its annual sales target of 1.9 million vehicles. In terms of specific brands, the Harvard brand is still the pillar of Great Wall sales, with cumulative sales of 288900 vehicles in the first half of the year, down 26.21% from the same period last year, making it the brand with the highest decline. Wei Brand is the first high-end brand launched by Great Wall, with cumulative sales of 21985 vehicles in the first half, down 4.35% from the same period last year. As the new energy vehicle brand of Great Wall, the Euler brand sold 59126 vehicles in the first half of the year, up 12.52 per cent from the same period last year. Tanks were the biggest growth brand of Great Wall, with 54094 vehicles sold in the first half, up 63.56 per cent from the same period last year. The automobile industry is concerned that although the major brands of Great Wall will launch tank 500, Wei Brand realize Dream, Harvard H6 hybrid model, Euler Ballet Cat, Lightning Cat, Punk Cat and other models this year, but the sales of the listed models such as Tank 500 are very general, and the once magnificent Harvard H6 model has now fallen to the altar. Under the circumstances, it is difficult, even "radical", for Great Wall to meet the remaining 72.7% sales target.

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