This Afternoon, Great Wall announced its reporter of first reason. According to the reporter, Great Wall has realized operation income of 14.73 billion CNY, which has increased 15.52% over last year market performance. Profit belongs to shareholders and net profit excluding non-recurring gains and losses are 2.01 billion CNY, which has increased 5.75% over last year. Compared with 70% growth last year, its growth has largely reduced already.
An anonymity analyst tells reporter that profit of first season of Great Wall reduced because of no new car market launching. As it known, H8 has delayed 3 months already.
H6 successful market introducing largely improved Great Wall profitability before. Standing at a relatively high point, Great Wall is still able to realize profit growth, so it is a good score on the other hand. The above analyst tells reporter that “Great Wall will back to track again” with H8 etc. products market launching.
Great Wall H8 is planed to launch market in Jan this year, but H8 quality was not reach market launching requirement at that moment. After diagnose, H8 has “safe belt alarm too early when vehicle initialing; steering wheel too light; barker system operation time too long; door position imitator obscure; part function too complex to operate; engine too loud and noise control needs improve etc,” problems.
On Jan 13, Great Wall announced that “because of some problems unsolved and continued perfection of our product, we decide to keep improving Harvard H8, which shall delay for 3 month market launching, and stop order in advance now.”
H8 is a middle and large size SUV Great Wall plans to introduce to market. The segment has been controlled by joint venture brand before. Great Wall, which is famous for its SUV products, wants to keep company profit growth by the product.
What is awkward, the second day after Great Wall open for order, some organization investors test drive. One car slides and hit fence by road. It causes car scrap, and 3 tire burst. Many organization investors and automobile analyst believe that “coincident will not influence investor confidence”, but it is not a good news for market.
