GWM releases 2012 business report posting year-on-year net profit growth of 66%
On the night of March 21, Great Wall Motor (2333.HK 601633.SH) released the business report, posting a net profit of 5.692 billion yuan, up 66.14 percent year on year; business revenues of 43.16 billion yuan, up 43.4 percent year on year
On the night of March 21, Great Wall Motor (2333.HK 601633.SH) released the business report, posting a net profit of 5.692 billion yuan, up 66.14 percent year on year; business revenues of 43.16 billion yuan, up 43.4 percent year on year; a sales volume of 621,400 units, up 34.31 percent year on year; a total profit of 6.841 billion yuan, up 65.62 percent year on year; a profit-sales ratio of 15.85 percent; and an EPS of 1.87 yuan, up 53.3 percent year on year. By the end of last year, GWM's total assets had amounted to 42.569 billion yuan.
Data shows GWM has achieved a substantial increase in net profit and maintained steady growth on sales amid the "micro growth" of the auto market. According to industry experts, GWM's substantial business growth has been attributable to its moderate operation and strategy of focus. The analytical report said GWM's business growth has been owing to its product structure change,its great efforts in external market development and the scale merit from sales growth.
According to the data released by the China Association of Automobile Manufacturers, GWM sold a total of 620,000 units in 2012, up 28.3 percent year on year, above the average level of the industry. It ranked among the top eight in the auto industry and became the wind vane for independent brand profiting. 2012 saw the sales boom of GWM's all series. While the key models such as Haval H6, Great Wall C30, Great Wall C50 and Wingle sold well, Haval M4 ignited the Chinese mini SUV market by virtue of fashionable and dynamic appearance and 1.5L all-aluminum VVT engine.
This year, GWM will further perfect its product line, has planned to launch models like Haval H2, New Haval H6, New Great Wall C50 and Wingle 5-E. GWM aims to sell 700,000 units in 2013. An industry analyzed, "GWM has maintained its style of moderate operation by setting a sales target of 700,000 units. According to its market performance, GWM's all series have been in short supply since 2012. The constant enrichment and perfection of GWM's product lines and the constant development of its overseas markets will promote the continuous growth of its profitability in 2013."