Great Wall Motor obtains 2-digit YoY growth in 2022 annual net profit

Shanghai (Gasgoo)- Great Wall Motor Company Limited (“GWM”) saw its annual revenue edge up 0.69% from a year earlier to 137.34 billion yuan in 2022, according to the financial results the company released on Thursday.

During the same period, the Baoding-based Chinese automaker scored a 22.9% year-on-year jump in its full-year net profit attributable to shareholders, which reached around 8.266 billion yuan. Excluding the impact of certain non-recurring gains and losses, its yearly net profit still rose 6.51% from a year earlier to roughly 4.477 billion yuan.

Haval H6; photo credit: GWM

In addition, the company’s basic earnings per share for the year of 2022 stood at 0.91 yuan, versus the 0.73 yuan for the year-ago period.

The automaker said via its WeChat account that its R&D investment amounted to 12.181 billion yuan in 2022, growing 34.34% from the previous year and accounting for up to 8.87% of the company’s total revenue.

In addition, the automaker sold 1,067,523 vehicles through 2022, 15.27% of which were priced at or above 200,000 yuan.

GWM has been accelerating its overseas expansion with a complete R&D, production, and sales system, as well as localized user operations. In 2022, it sold 172,200 vehicles in overseas markets, representing an increase of 23.09% year-on-year, setting a historical record.

Last year, GWM's global hotter-selling models, such as the WEY Coffee 01 PHEV, the ORA Good Cat, the HAVAL H6 HEV/PHEV, the TANK 300, and Great Wall Poer, were launched in Europe, South America, ASEAN, the Middle East, and other regions.