Gasgoo Munich-on August 25 that Great Wall Motor (601633) released its 2026 interim report. Financial data shows revenue rose to 102.101 billion yuan in the first half, a 10.58% increase from a year earlier, while cumulative vehicle sales increased 1.22% to 575,764 units.
Overseas operations have become the main driver of growth. During the reporting period, overseas sales rose 45.46% to 289,016 units, accounting for more than 50% of total volume. This shift highlights the importance of global business to the company's overall performance.
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While revenue exceeded the 100-billion-yuan mark, profitability declined significantly. Net income attributable to listed shareholders fell 61.11% to 2.465 billion yuan in the first half, while net profit excluding non-recurring items fell 55.04% to 1.61 billion yuan.
External factors, including delayed recovery of overseas tax subsidies and currency fluctuations, were the primary causes of the profit decline. Great Wall Motor is expanding abroad rapidly, with overseas shipments now representing half of total volume, but the scale benefits of this expansion have not fully translated into profit growth. Slow domestic growth and international challenges have resulted in rising revenue but falling profits.
Looking ahead, Great Wall Motor plans to expand its global presence while accelerating the rollout of new-energy vehicles in the domestic market. The goal is to balance expansion with profitability and manage operational pressures associated with global expansion.
