GWM Expects Net Profit of CNY 1.15-1.55 billion in H1 2023

GWM News 2023-07-19

On July 14, Great Wall Motor Co., Ltd. (stock code: 601633.SH, 02333.HK; hereinafter referred to as "GWM") released the midyear performance estimates for 2023. In 2023, GWM has been comprehensively accelerating the advancement of intelligent new energy, and the company's operation has been improving. In the first quarter, the cumulative sales reached to 220,000, and the net profit attributable to the shareholders is CNY174 million. With the development of many new energy products such as HAVAL Xiaolong series and WEY Blue Mountain DHT-PHEV, the cumulative sales volume in the second quarter reached 299,000 vehicles, the net profit attributable to the shareholders is estimated at CNY 976 million to 1.376 billion, and the net profit Excl. extraordinary will be CNY 817 million to 1,067 billion. In the second half of the year, the continuous revitalization of the product matrix and the launch of multiple new energy products will help the company achieve stable performance and accelerate the high-quality development of intelligent new energy.

In the first half of the year, GWM comprehensively deepened the strategic layout of smart new energy, accelerated the returnning to the 4mains: namely main category, main style, main price and main segment, and enabled smart new energy products to refresh with technological innovation. Hot products attracted market attention, and 519,226 vehicles were sold from January to June; The intelligent new energy strategy achieved remarkable results, with 93,225 new energy vehicles sold, up 46.60% year on year.

Under background of the dual circulation of internal and international, GWM has accelerated launching of new energy products and going global with the "ecosystem", boosting a comprehensive development in the overseas market. From January to June, 123,930 vehicles were sold overseas, up 97.27% year on year.

Intelligent new energy products are rapidly landing overseas. In the first half of the year, multiple models such as the HAVAL H6 HEV, ORA 03, TANK 300, and TANK 500 were launched in overseas markets such as Jordan, Saudi Arabia, Oman, the United Arab Emirates, the Philippines, Chile, Australia, and Madagascar.

GWM has accelerated its pace of going global with ecosystem. The first accessories center in the Middle East was operated in the United Arab Emirates. Vice President of Brazil visited the Brazilian factory and witnessed the launch of the first hybrid flexible fuel pickup project in Brazil. The overseas dealer system has been continuously improved, and strategic partnerships have been established with Inchcape plc Group, Vietnam TAG Group, Singapore Cycle&Carriage Group and other dealers to comprehensively accelerate the expansion of the global sales network and provide overseas consumers with more intelligent and cleaner products.

With technical reserves in new energy and intelligent fields, GWM not only has the confidence to face fierce market competition, but also has the strength to accelerate its pace of product layout. The blessing of new products will also stimulate a new round of development potential of GWM.

In the future, GWM will continue to deepen its efforts in the field of intelligent new energy, adhere to the value of Tech For Social Good and People Foremost, adhere to the Longtermism principle, pursue product quality, regard user safety as the lifeline, promote the implementation of globalization strategy, and accelerate the high level development of enterprises.