GWM Achieved A Revenue of Nearly 36 Billion Yuan in H1 of 2020, up 25.4% YOY in Q2

From January to June in 2020, GWM achieved a revenue of 35.9 billion yuan, and its revenue in Q2 was 23.5 billion yuan, up 25.4% YOY.

“Precise R&D, excessive investment”: In H1 of 2020, GWM’s total R&D expenditure exceeded 1.2 billion yuan, an increase of 33% YOY.

GWM released three technical brands,  aiming to gradually transform into a global tech mobility company.

On August 28, Great Wall Motor Company Limited (hereinafter referred to as “GWM”, stock code: A-Share 601633, H-Share 2333) released its 2020 First-Half-Year Report. In the first half of 2020, GWM had a total revenue of 35.9 billion yuan. With the gradual recovery of Chinese auto market, GWM increased its sales and performance in Q2, with an increase YOY and month-on-month for three consecutive months in Q2. In terms of performance, its revenue in Q2 was 23.5 billion yuan, an increase of  25.4% YOY and 89.4% quarter-on-quarter, and its net profit in Q2 was 1,796 million yuan, an increase of 136.98% YOY. As of June 30, 2020, the total assets of GWM reached 119.4 billion yuan, an increase of 5.5% over the end of 2019.

In the first half of this year, the global auto market was hit by factors such as the epidemic. In the face of the rapidly changing external environment, GWM unswervingly promoted the “new four modernizations” and the globalization process, and accelerated its organizational reform. Guided by technology and aiming at transforming into a global tech mobility company, GWM has been accumulating strength to become a more influential global auto enterprise.

Product and marketing facilitate the continuous growth in sales and performance

In the face of the impact of the epidemic, GWM insisted on expanding its market share by virtue of its product and innovative marketing. In addition, GWM made full use of the Internet, perfect marketing network and service system to get through online and offline channels, thus achieving growth in sales and performance.

From January to June this year, GWM sold a total of 399,777 new vehicles. Since March, GWM has enjoyed a strong recovery in the terminal market, with sales increasing month-on-month for four consecutive months. In the first half of this year, the average selling price of GWM was nearly 100,000 yuan, an increase of 8% YOY, which is far higher than that of Chinese auto brands and even close to that of some joint-venture auto brands.

In the first half of 2020, HAVAL brand sold more than 260,000 units, becoming the first professional Chinese SUV brand to enter the 6-million Club. WEY brand sold nearly 27,000 units, with a total sales volume of 350,000 units. ORA brand performed well in the A00 New Energy market segment. Great Wall Pickup remained the sales champion in domestic pickup market, with a market share of nearly 50%.

In the second half of this year, GWM will bring a feast of new technologies and new products to Chinese auto market together with its four subordinate brands.

Among them, Generation III HAVAL H6 received more than 1,000 advance orders on the first day, demonstrating the acceleration of the “national legend car”. HAVAL Big Dog endowed more possibilities to vehicles, opening up a new blue ocean market. Tank 300 perfectly combined cross-country and luxury. ORA “Cat Family” expanded its share in the new energy vehicle market with a stronger family lineup. The Passenger Pickup Diesel 8AT Model of GWM P-series pickup was launched, further enriching its family lineup.

The launch of new models will not only inject fresh vitality into the Chinese auto market and provide consumers with more high-quality choices, but also further improve the market competitiveness of GWM and drive its continuous growth in sales and performance in the second half of the year.

Building core technology competence and driving the continuous improvement of brand value

Adhering to the principle of “precise R&D, excessive investment”, GWM is committed to building core technology competence and driving the continuous improvement of brand value. Making users around the world feel the surprise brought by technological innovation has always been the vision of GWM.

In the first half of 2020, GWM’s total R&D expenditure exceeded 1.2 billion yuan, an increase of 33% YOY. Meanwhile, in the face of the industrial transformation brought by the digital and intelligent transformation, GWM put forward the transformation from a Chinese auto enterprise to a global tech mobility company and made a thorough change.

In this reform, GWM first transformed its enterprise organization model and realized “two getting through”. On one hand, GWM should pay attention to competition, market and customers in the stage of commodity layout, and get through and connect the path from commodity layout to product development. On the other hand, GWM should promote process and digital transformation to strengthen the management of brand company, so that people who can “hear the gunfire” make decisions.

On July 20, GWM released three technical brands, officially announcing that GWM has taken the first step in transforming itself into a global tech mobility company.

As the global and future oriented manifesto of GWM, the three technical brands is a value innovation technology system of the whole industrial chain covering automobile R&D, design, production and auto life, representing the brand new “car-making concept” of GWM. It is the powerful accumulation of core technologies of GWM, as well as the solid foundation of the global development of GWM.

In the face of the tide of “new four modernizations” and the accelerated transformation of the global auto industry, GWM will focus on R&D in technology, promote sustainable development through enterprise change and technological innovation, and provide better experience for global users with better products and services.