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Globalization strategy facilitated GWM to enter the secondary growth cycle

Great Wall Motor Company Limited released its Final Result Announcement 2019. During the year full of challenge, GWM still had made a stable performance and had achieved a total revenue of 96.211 billion yuan

On March 31, Great Wall Motor Company Limited (hereinafter referred to as “GWM”, stock code: SH 601633, HK 2333) released its Final Result Announcement 2019. In 2019, a year full of challenge, GWM still had made a stable performance. As of December 31, 2019, GWM had achieved a total revenue of 96.211 billion yuan, a total profit of 5.101 billion yuan, a net profit of 4.531 billion yuan, and a net profit of 4.497 billion yuan attributable to shareholders of the parent company.

In 2019, GWM comprehensively upgraded its globalization strategy. It had made an excellent performance in its overseas market, with its overseas revenue reaching 5.522 billion yuan, a YOY increase of 66.61%. Under the background of the in-depth reform of the “new four modernizations” of automobiles, GWM is committed to precise and excessive R&D, transformation and innovation, which paved the way for its stronger presence as a global automobile brand.

Both revenue and net profit rose in the second half of the year of 2019

In 2019, in the face of the transformation of the auto industry and the declined domestic auto market, GWM continued to maintain stable operation with product structure optimization and brand building. In 2019, its total revenue was 96.211 billion yuan and the net profit was 4.531 billion yuan. Meanwhile, starting from the second quarter of 2019, its net profit continued to grow substantially. The net profit of the third quarter increased by 84.73% from the previous quarter, and the net profit of the fourth quarter increased by 12.79% from the previous quarter. In the second half of the year, both revenue and net profit were increased. Specifically, the total revenue increased by 8.47% YOY and 32.52% from the previous half, and the net profit increased by 94.61% YOY and 92.11% from the previous half.

The four brands lead the market segment

In 2019, GWM delivered 1.06 million new vehicles globally, a YOY increase of 1.43% in spite of the downward trend of the auto market. GWM has achieved the sales volume of more than one million units for the fourth consecutive year.

The four brands, namely HAVAL, WEY, ORA and Great Wall Pickup, further consolidated their market position. HAVAL brand had hold the sales champion title in the SUV market in China for 10 consecutive years, with a global total sale of nearly 6 million units. The global accumulative sales volume of the ideal Chinese car HAVAL H6 exceeded 3 million units, setting a record for the sales volume of a single model of a Chinese brand. HAVAL F7, the flagship model of HAVAL F Series, had sold more than 10,000 units per month for 13 months.

In 2019, WEY brand launched the fuel vehicle VV7GT, as well as plug-in hybrid models VV7 PHEV and VV7GT PHEV, forming a strong family lineup with VV5 and VV6. Its annual sales volume exceeded 100,000 units in 2019, and the cumulative sales volume since its establishment exceeded 320,000 units. WEY brand became the first Chinese luxury SUV brand to sell more than 300,000 units.

In 2019, ORA brand’s cumulative sales rose by 184.85% YOY, creating the highest sales growth rate in the A00 segment.

Great Wall Pickup brand had hold the first place in domestic and export sales for 22 consecutive years, with more than 1.6 million units worldwide and a domestic market share of more than 35%. In the past year, Great Wall Pickup launched a new brand, Great Wall “P”. In the three months since its launch, Great Wall “P” sold 18,200 units in total, becoming the sales champion of 100,000-yuan high-end pickup segment.

Focus on users and enhance brand value

In the past year, models of GWM kept improving in intelligence, cleanliness, quality and value. Models with a price of more than 100,000 yuan accounted for more than 65%, and new energy and fuel-efficient models accounted for 68.3%, becoming the major development momentum of GWM.

Meanwhile, starting from user demand and user experience, GWM created a better experience for users in both the product service and the after-sales service . In September 2019, China Association for Quality released the evaluation results of 2019 CACSI. HAVAL brand and its models (HAVAL H6, HAVAL H7, HAVAL M6) got the highest score in the industry, and won the first place in several awards of “sales service satisfaction”, “100,000-150,000-yuan Grade A SUV”, “high-profile new vehicles”, and “Grade A SUV below 70,000-yuan”. Meanwhile, WEY brand won the first place in the annual “after-sales service satisfaction”, and WEY VV6 won the first place in the “2019 high-profile new vehicles (100,000-150,000-yuan SUV)”.

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