Great Wall Motors html released its third quarter report on the evening of the 221st, showing that the company achieved a net profit of 8.149 billion yuan in the first three quarters, and increased by 64.80% year-on-year, of which the net profit of 2.557 billion yuan in the third quarter, an increase of 80.55% year-on-year.
Tonghuashun data shows that as of the close of October 21, Great Wall Motors was 26.28 yuan per share, with a total market value of 240.7 billion yuan.
Data source: Tonghuashun
Profit increased significantly year-on-year
From January to September this year, Great Wall Motor achieved a total operating income of 99.48 billion yuan, a year-on-year increase of 9.56%; net profit of 8.149 billion yuan, a year-on-year increase of 64.80%. In terms of sales volume of
, Great Wall Motor sold 802,300 new cars in the first three quarters of this year. Among them, 96,900 new energy vehicle sales were sold, an increase of 14.31% year-on-year; 111,700 overseas vehicles were sold, an increase of 14.09% year-on-year. In terms of the price of
, from January to September, the average price of Great Wall Motors reached 124,000 yuan, an increase of 20.72% year-on-year; the sales volume of models above 200,000 yuan accounted for 14.56%.
Overseas market has become the second growth pole of Great Wall Motor's sales. On October 17, Great Wall Motors' Weipai Mocha PHEV (Coffee 01) and Ora Good Cat were officially launched in Europe. Among them, Weipai Mocha PHEV (Coffee 01) is priced at approximately RMB 390,000-420,000, entering the European high-end new energy market. On August 12, Great Wall Motor announced that it had officially signed a distribution authorization agreement with Omani auto agent Bahwan Group's subsidiary OTE and reached a medium- and long-term strategic cooperation on . The release plans and service model upgrade plans of the two major brands of Great Wall Motors' Haval and pickup trucks in the Oman market are about to be implemented.
CITIC Securities said that countries are currently actively introducing new energy vehicle guidance policies, such as government subsidies, low tariffs, etc., providing a golden window for my country's electric vehicle to go overseas. It is estimated that in 2025 and 2030, the overseas sales of Chinese auto companies are expected to reach 3 million and 5.5 million respectively. In 2030, my country's overseas sales of electric vehicles are expected to reach 2.5 million.
Increases R&D investment
Great Wall Motor recently announced its new energy vehicle strategy. From now until 2025, it plans to increase the sales of Haval new energy vehicle models to 80%, and will officially stop selling fuel vehicles in 2030. Great Wall Motors President Mu Feng said that as the largest vehicle segment under Great Wall Motors, Haval will usher in a comprehensive transformation of new energy. Haval's transformation also marks the full implementation of Great Wall Motor's new energy strategy.
In order to achieve a comprehensive transformation of new energy and improve product intelligence and electrification performance, Great Wall Motors continues to increase its investment in technology research and development. Data shows that in the first three quarters of this year, Great Wall Motor's total R&D investment reached 8.544 billion yuan, a year-on-year increase of 64.74%, accounting for 8.59% of its operating income, mainly used for research and release in high-tech fields such as new energy and intelligence.
At present, Great Wall Motor has laid out new energy, intelligence and other related technical industries in core fields such as hybrid, pure electric, and hydrogen energy , and has built a "forest-style ecology" system to empower all its brands. In terms of battery technology, Great Wall Motors' Honeycomb Energy has deployed power batteries with multi-chemical systems such as lithium iron phosphate , cobalt-free, ternary, solid-state, etc.; in terms of hydrogen fuel cell , the "hydrogen power system" independently developed by its subsidiary Weishi Energy can provide automotive-grade full-scene solutions. In terms of hybrid technology, the Lemon Hybrid DHT independently developed by Great Wall Motor is a highly integrated, high-efficiency, multi-mode oil-electric hybrid system. It adopts dual-motor hybrid hybrid technology and has completely independent intellectual property rights. It has a total of 199 patents (including more than 80 core patents), which can achieve a balance between high efficiency and high performance in full speed domain and all scenarios.
The relevant person in charge of Great Wall Motors said that under the open and comprehensive "forest-style ecology" system, the integration and integration of industrial layout can achieve efficient integration of resources, and can flow freely on various industrial nodes, break organizational barriers, and form a strong and stable internal coordination mechanism to jointly resist external risks.
CITIC Securities believes that under the great wave of integration of automobile electrification and intelligence, smart electric vehicles are the future industry trend.Currently, in the field of new energy vehicles, Chinese auto companies are leading overseas auto companies in their understanding and application of electrification and intelligence, and can better meet customers' needs for new automobile products, new technologies and new functions. For Chinese auto brands, the development direction of smart electric vehicles is a brand new track, providing Chinese auto companies with an opportunity to overtake.
Editor: Song Zhaoqing Ya Wenhui
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