AutoBeta(AutoBeta.net)08/30 Report--

On August 30, Great Wall Motor released its results for the first half of this year. The report shows that the total revenue of Great Wall Motor in the first half of this year was 91.429 billion yuan, an increase of 30.67 percent compared with 69.971 billion yuan in the same period last year; the net profit in the first half was 7.079 billion yuan, compared with 1.361 billion yuan in the same period last year, and the net profit increased by 419.99 percent over the same period last year; deducting 5.651 billion yuan in net profit, an increase of 654.04 percent over the same period last year; gross profit was 18.962 billion yuan, up 60.82 percent over the same period last year.

As for the increase in net profit, officials said that it was mainly due to an increase in overseas sales and further optimization of the domestic product mix, resulting in a sharp increase in net profit in the first half of this year compared with the same period last year. In terms of sales, Great Wall sold 554900 vehicles in the first half of this year, up 6.95 per cent from the same period last year. Among them, sales of new energy vehicles were 129800, an increase of 44.89% over the same period last year.

From the official first-half results, it can be seen that Great Wall's growth in the first half is related to the successive introduction of new models by its brands and an increase in sales in overseas markets. Since the beginning of this year, Great Wall has launched a tank 700Hi4-T model in February in an effort to boost sales, with a price range of 42.8-700000. In April, its Harvard brand launched the new Harvard H6, with a total of five models with a price range of 11.79 yuan to 143900 yuan. The Wei brand new mocha Hi4 also went on sale in May at a price of 238800 yuan. In addition, the official launch of 2024 Euler cats, 22.4T Great Wall Gun and other models, a few days ago also opened a new generation of Harvard H9 pre-sale. With the layout of the new model, the sales of Great Wall also play a certain role.

As we all know, the Great Wall has a total of five major brands: Harvard, Tank, Euler, Wei Brand and pickup. Among them, the Harvard brand is the main source of sales of Great Wall Motor. Figures show that the Harvard brand sold 299700 vehicles in the first half of this year, up 2.42 per cent from a year earlier. Wei Brand, as Great Wall entered the high end of the market, sold 19900 vehicles in the first half, up 9.46 per cent from a year earlier. The tank brand saw the biggest increase in Great Wall cars in the first half of this year, with cumulative sales of 116000 vehicles in the first half of this year, up 98.94 per cent from a year earlier. At present, tank brands are selling tank 300,400,500,700, of which tank 300 is the most eye-catching, with a cumulative sales of 41800 vehicles in the first half of the year, accounting for nearly half of the tank brand sales. The Euler brand sold a total of 23419 vehicles in the first half of this year, with most of its sales coming from Euler cats.

The growth in overseas markets has brought a substantial increase in the overall sales of Great Wall Motor. Figures show that Great Wall sold 199800 vehicles in overseas markets in the first half of this year, up 62.09 per cent from a year earlier. With regard to the subsequent layout of overseas markets, officials said that they will focus on the "international new four modernizations" of localized production capacity, local operation, cross-cultural brands and supply chain security, and promote research, production, supply, sales, and service to the sea in an all-round way, with plans to achieve overseas sales of more than 1 million vehicles by 2030.

It is worth mentioning that Great Wall Motor released the first half of the results, although achieved both sales and revenue growth. But in fact, from June to July, only tank sales of several Great Wall brands have maintained a trend of growth. Sales of several other brands have declined, and even individual brands have seen a sharp decline in sales. As a reference, Great Wall sold 91300 vehicles in July, down 16.32 per cent from a year earlier. Of these, the Harvard brand, which was supported by sales in July, sold 52900 vehicles, down 15.92 per cent from a year earlier. Sales of both Wei and Euler brands halved in July, with sales of 2765 vehicles in July, down 58.43 per cent from a year earlier. Euler sold 4780 vehicles in July, down 52.75% from a year earlier. Sales of Great Wall pickups were 12028 in July, down 24.07 per cent from a year earlier.

According to the official plan, the annual target for this year is 1.6 million. From January to July, Great Wall sold 650100 vehicles, only 40% of its annual target, and it will be difficult to achieve nearly 1 million sales in the next few months.

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