Great Wall Motor mid-term performance is unsatisfactory

Shanghai, September 10 (Gasgoo.com) With the rising prices of raw materials and sales expense hike, Great Wall Motor‘s mid-term performance didn’t come up to the market expectation, according to Stockstar News today.

Chinese top SUV maker Great Wall Motor Co. announced its 2008 mid-term performance yesterday, which reported that in the period the company posted a slight net profit increase by 0.6% year on year to 408 million yuan ($59.5million), while its gross profit margin declined by 3.4%.

According to a report, Great Wall Motor failed to get approval from China Securities Regulatory Commission on its return to A-share Stock Market. But Great Wall’s vice general manager and secretary Bai Xuefei said that failing to get listed will not affect the company’s finance and operations, and the company will seek other choices for fund-raising.