On the night of March 21, GWM (2333.HK 601633.SH) released its business report for 2013, posting a net profit of 8.232 billion yuan, operating revenues of 56.784 billion yuan, a total profit of 9.920 billion yuan and earnings of 2.70 yuan per share, up 43.87 percent, 31.57 percent, 45 percent and 44.47 percent year-on-year respectively. By late 2013, GWM’s total assets had reached 52.605 billion yuan.
Data shows that GWM achieved a substantial increase in net profit and maintained steady growth in 2013. The report attributes GWM’s business growth to its commitment to building cost-effective products, paying attention to customer’s demand and improving product quality, thus boosting overall sales.
According to the report, in the future GWM will continue with products upgrading, enhance output and sales by means of automation, increase investment in independent R & D, and intensify vehicle and parts R & D to constantly perfect core parts, thus promoting overall vehicle performance. GWM’s new technology center expects to run into operation late 2014. The center is capable of preliminary research, modeling design, conceptual design and simulation design, covering the full series of pickups, SUVs, and cars.
As an important part of product quality improvement, GWM will continue deepening technical cooperation with world-famous automotive parts suppliers in a bid to improve product quality substantially, thus becoming an internationalized automaker. Besides, GWM will combine the professional management team with the talent team to enhance its internationalized production and management level, product innovativeness and cost performance, further consolidate the after-sales service system and perfect the R & D system, thus boosting GWM’s overall product competitiveness. In addition, guided by the national industrial policy, GWM will be committed to developing energy-saving, environmental-friendly, high-quality and high-performance vehicles and related parts.
According to sources, GWM will extend the focusing strategy in the coming new product development, and is expected to launch more Haval models in 2014, including Haval H8 and Haval H2. Equipped with 2.0L TDI engine and six-speed automatic transmission, Haval H8 is GWM’s first SUV priced above 200,000 yuan. In the passenger car segment, GWM will launch models like Great Wall C50 and Great Wall M4 (2014 Model) …etc.
Besides, in the pickup segment, GWM will keep developing new products and enhancing product performance to maintain the leading market share of Great Wall pickups.
