On July 10, Great Wall issued a semi-annual performance forecast for 2024.
According to the announcement of Great Wall Motor, the net profit attributed to the owner of the parent company is expected to be 6.
5 billion yuan to 7.
3 billion yuan in 2024, an increase of 5.
14 billion yuan to 5.
94 billion yuan compared with the same period last year, an increase of 377.
49% to 436.
26% over the same period last year.
The non-net profit deducted by the owner of the parent company is expected to be 5 billion yuan to 6 billion yuan, an increase of 567.
13% to 700.
56% compared with the same period last year.
According to Great Wall’s previously disclosed 2023 annual report, its 2023 return net profit is also 7 billion yuan, that is, Great Wall is expected to achieve last year’s profit performance in the first half of this year.
Great Wall Motor said: “the main reason for the pre-increase in the current performance is mainly due to the company’s commitment to high-quality development, sticking to quality, creating a highly productive product experience, achieving overseas sales growth and further optimization of domestic product structure.
This led to a substantial year-on-year increase in net profit belonging to the owner of the parent company.
In terms of overseas sales, according to KuaiBao’s production and sales in June, its overseas sales reached 38104 units in June, and its cumulative sales from January to June reached 201500 units, an increase of 62.
59% over the same period last year.
This year, Great Wall Motor has obviously accelerated the pace of globalization.
During the Beijing Auto Show, Great Wall officially released the “new four modernizations” strategy for global development: production capacity localization, operation localization, brand cross-cultural, supply chain security, and announced that it will increase investment in overseas markets and support overseas expansion.
Under a Great Wall brand, promote research, production, supply, sales and service to the sea in an all-round way, and plan to achieve overseas sales of more than 1 million vehicles by 2030, accounting for more than 1 per cent of high-end model sales.
At present, Great Wall Motor has been exported to more than 170 countries and regions around the world, with more than 1000 overseas sales channels.
As for product structure, according to production and marketing KuaiBao, the total sales of Great Wall cars from January to June this year was 559669 units, an increase of 7.
79 percent over the same period last year.
Among them, sales of Great Wall pickup trucks and Euler brands declined compared with the same period last year, while sales of Harvard and WEY brands increased slightly by 2.
42% and 9.
46% respectively.
According to the announcement of Great Wall Motor, it is worth noting that Great Wall Motor sold 140533 models worth more than 200000 yuan in the first half of the year, an increase of 64.
28% over the same period last year.
The bulk of the increase in sales is the tank brand.
In the first half of the year, sales of full-range tank models reached 116038, an increase of 99 percent over the same period last year.
Among them, the sales of tank new energy products was 49726, accounting for 43%.
It can be said that the sharp rise in net profit of Great Wall in the first half of the year was mainly due to the increase in sales of high-value models of tanks.
The construction of tank brand is beginning to take shape.
In February this year, the 300,000th tank in the world officially went offline.
on February 26th, the tank 700Hi4-T went on the market, and in March, national delivery began.
and in April, the third anniversary of the establishment of the tank brand, sales of nearly 400000 vehicles in three years.
With the development of the tank brand, the product structure of Great Wall Motor is also changing further.
On the whole, Great Wall’s performance forecast for the first half of 2024 reflects that it has achieved certain results in expanding overseas markets, optimizing product structure, brand upgrading and other measures.
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