GWM Releases 2012 Business Report Showing Net Profit Growth of 62.6%
OREANDA-NEWS. January 28, 2013. Great Wall Motor Company Limited (2333.HK 601633.SH) recently released its business report for 2012. The company posted a net profit of 5.708 billion yuan, and a net profit of 5.68 billion yuan attributable to the shareholders of the parent company. The company showed a total profit of 6.813 billion yuan, and operating revenues of 43.16 billion yuan. This meant that the company earned shareholders 1.87 yuan per share. GWM also listed its total assets at 42.58 billion yuan in late 2012. All of these numbers were up 62.6 percent, 65.7 percent, 64.9 percent, 43.4 percent, 53.3 percent, and 28.5 percent year on year, respectively.
Data has shown a substantial and steady growth of GWM's net profits. This came even within the context of "micro growth" within the auto market. According to industrial experts, GWM's enormous business growth amid the depression in the auto industry can be attributed to its steady operations and focused strategy. Furthermore, constant introductions of new models, as well as quality improvements, are the other major reasons for GWM's sales growth.
According to data released by the Chinese Association of Automobile Manufacturers, GWM sold 620,000 units in 2012, registering a year-on-year growth of 28.3 percent above the average industry level. This ranked GWM in the top 8 within the auto industry. GWM exported 96,500 units, up 16.1 percent over last year. All three vehicle categories also showed steady growth. 281,200 SUV units were sold, up 71.0 percent year on year. This meant that the company was successfully able to defend the sales title for the 10th consecutive year. 206,200 Great Wall passenger cars were sold, up 2.8 percent year on year, and 137,200 Wingle pickups were sold, up 12.7 percent year on year. This meant GWM was able to secure the pickup sales title for the 15th consecutive year.
In terms of the company’s plan for 2013, GWM expected to sell 700,000 units, further perfect its existing product lines, and introduce new models in all the three categories. 13 new models are now projected to be launched this year. These will include: the Haval H2, Haval H8, Great Wall C50 2013, and the Wingle 6.
As industrial analysis noted, "GWM has maintained its moderate style by setting a sales target of 700,000 units. According to its market performance, all series of GWM vehicles have been in short supply since 2012. The constant enrichment and perfection of GWM's product lines will continue to boost the company’s profitability in 2013.
According to sources, GWM has consistently been touted by both authorities and the media for its steadily improved business quality since going public on the A-share market in 2011. It has been listed among the "Automakers with Investment Potential", "Automakers with Investment Value", "China's Top 100 Listed Companies" and "Most Valuable Chinese Brands".
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