Operating income increased by 32.04% year-on-year, net profit increased by 25.41% year-on-year, bicycle selling price increased by 15.02% year-on-year, total assets increased by 13.89% year-on-year, net cash flow increased by 581.61% year-on-year, and cash balance at the end of the period increased by 105.33% year-on-year...... This series of year-on-year growth is the report card handed over by Great Wall Motors in 2021.
Recently, Great Wall Motor released the 2021 financial report shows that last year, the company's operating income reached 136.4 billion yuan, of which overseas revenue was 16.16 billion yuan; net profit reached 6.73 billion yuan, net profit after restoring equity incentive expenses was 7.63 billion yuan; net cash flow from operating activities was net inflow of 35.32 billion yuan; total assets reached 175.41 billion yuan, and the balance of cash and cash equivalents at the end of the period was 27.91 billion yuan; the company paid dividends of 3.42 billion yuan for the whole year, with a dividend ratio of more than 50.81%.
Combined with the sales announcement released at the beginning of this year, although Great Wall Motors did not complete the expected assessment target in 2021, the total sales of 1.28 million vehicles and double-digit year-on-year growth, coupled with the continuous good financial report of this indicator, Great Wall Motors' operating conditions in 2021 are still commendable.
As of noon on March 30, Great Wall Motors had risen 4.81% intraday, and many institutions recommended buying.
Category innovation breaks the deadlock of a single model
In the fourth quarter of last year, Wei Jianjun said at an event, "Great Wall Motors has not crossed the business that is not related to automobiles for so many years, and has been working hard in the automotive field. "It's true. Compared with some auto companies in recent years, some auto companies have begun to try to cross-border and expand their business scope, Great Wall Motors has been committed to "tossing" cars.
In 2021, Great Wall Motors' persistent and tossing enthusiasm finally came to fruition. On the basis of the original four major brands of Haval, Weipai, Euler and Great Wall Pickup Truck, the emergence of tanks and salons has made Great Wall Motors face six major brand camps in different market segments. If you count the BC brand that has not yet been officially released, but has been determined to return to the car market, Great Wall Motors will undoubtedly create a "seven-star array" of its own.
From past experience, multi-brand operation is more stressful than opportunity for Chinese auto brands. Because it is subject to the relationship of brand premium, it is impossible to break through the price ceiling, and having more children is not necessarily easy to fight, and it is more likely that internal friction is formed between brands. At the same time, resources are too dispersed, which not only increases costs, but also increases risk. Regarding these problems, Great Wall Motors gave a solution - category innovation and increased premium.
The most eye-catching operation of Great Wall Motors in 2021 is to continue to activate the category market and break down category barriers. From tank 300 city version to Euler good cat GT, from Haval first love, red rabbit, divine beast to Wei brand "coffee trilogy", from mecha dragon to dream, a variety of dazzling subdivision categories of new cars, not only let Great Wall Motors form a strong product offensive in the market, help its market influence to increase rapidly, more importantly, help Great Wall Motors successfully reduce its dependence on the meritorious model Haval H6, break the situation that a single model determines the life and death of the enterprise, and achieve the improvement of market share of the market segment.
According to the data, the Euler brand sold 135,000 vehicles in 2021, an increase of 140% year-on-year, and continued to rank first in the domestic new energy vehicle market; the tank brand delivered 85,000 vehicles throughout the year, accounting for more than 50% of the hardcore off-road vehicle market share, and sat firmly in the top spot in China's hardcore off-road vehicle market; the Great Wall pickup truck won the first place in pickup truck sales, maintaining the first domestic and export sales for 24 consecutive years, selling 233,000 vehicles in 2021, and the global cumulative sales exceeded 2 million.
The brand premium ability has been significantly improved
Category innovation has also enabled Great Wall Motors to continuously optimize its product structure and enhance its premium capabilities. According to the data, the overall average bicycle price of Great Wall Motors in 2021 exceeded 106,000 yuan, an increase of 15.02% year-on-year. From January to February this year, the sales volume of great wall motors with more than 150,000 yuan has reached 15.5%, of which the proportion of high-value and high-intelligence product models has increased to 88.1%, gradually becoming the company's main sales force.
The improvement of premium capabilities has also helped enterprises expand their price positions, the space for play between brands has become larger, and through the innovative play of focusing on subdivision categories, the market has been subdivided and subdivided through subdivision, the brand's target customer base has not only become more focused, but also the internal friction problem of multi-brand operation has been solved.
Entering 2022, the innovation of great wall automobile category is still the same. For example, Mocha DHT-PHEV has created a new category of "0 anxiety intelligent electric", focusing on the 300,000 yuan high-end new energy SUV market; the tank 500 breaks the "import monopoly" of large-displacement off-road SUVs and redefines the standard of medium and large business luxury off-road SUVs.
In addition, Weipai's two high-end MPV and a large six-seat SUV, Haval's Cool Dog, the fourth-generation H6, Euler's Lightning Cat, Punk Cat, Ballet Cat, Great Wall Pickup's full-size pickup, Salon's Mecha Dragon, etc., are expected to meet consumers in 2022. This will undoubtedly set off a wave of category climax in the market, which is very worth looking forward to.
The stage of the Great Wall of Science and Technology is very large
The large investment in technology research and development is also the key to Great Wall Motor's successful breakthrough through category innovation in 2021 and the successful take-off of breakthroughs in the sub-category market.
In fact, for Chinese auto brands represented by Great Wall Motors, if they cannot grasp the core technology, they cannot carry out scientific and technological innovation, they cannot achieve high-quality development, and they cannot completely get rid of the traditional image of following the automobile industry and become the leader on the new track.
To this end, in 2021, Great Wall Motor's R&D investment reached 9.07 billion yuan, an increase of 76.05% year-on-year, accounting for 6.65% of operating income, ranking among the best in the industry, providing strong technical support for product experience upgrades.
At present, Great Wall Motors has established a global R&D system of "Seven Countries and Ten Places", created three major technology brands of "lemon", "tank" and "coffee intelligence", and formed a value innovation technology system covering the whole industry chain of automobile research and development, design, production and automobile life.
In recent years, Great Wall Motors has accelerated the advancement of enterprise electrification in the field of electrification, and the Dayu battery technology, known as "never fire, never explode", will be fully applied in its new energy series models, improving the loading rate of thermal runaway protection technology for power batteries, and cobalt-free batteries will also achieve larger-scale installation.
In the field of energy-saving vehicles, Great Wall Motors has developed the world's first transverse 9-speed wet dual-clutch transmission through multi-technical routes such as high-efficiency fuel, hybrid and hydrogen energy, created China's first mass-produced longitudinal 9AT gearbox, developed a 3.0T V6 engine, and developed related energy-saving technologies such as lemon hybrid DHT and hydrogen energy, helping the implementation of the national carbon neutrality and carbon emission reduction strategy.
In the field of intelligence, Great Wall Motors has achieved vehicle networking application coverage in Haval, Weipai, Euler, tanks and Great Wall Guns. In 2022, we will continue to improve the intelligence depth of its products on this basis, of which a new electronic and electrical architecture based on central computing and regionalization will be launched in China, and the intelligent driver assistance computing platform IDC 3.0 will also be installed in 2022.
Wei Jianjun once said that Great Wall Motors will invest a total of 100 billion yuan in research and development in the next 5 years, and the global R & D personnel will reach 30,000 people, of which 10,000 are software developers. At present, the R&D team of Great Wall Motor has reached more than 19,000 people, and the number of R&D personnel accounts for more than 30% of the total number of the company.
There is no doubt that in the process of transformation towards "global intelligent technology companies", Great Wall Motors, which continues to increase investment in technology research and development, will bring new inspiration to the entire industry, and the future stage will continue to expand.
Kanche said:
Last year, Wei Jianjun revealed the strategic goal of Great Wall Motors - to achieve annual global sales of 4 million vehicles by 2025, with operating income of more than 600 billion yuan. Judging from the 2021 financial report data, it is indeed difficult to increase net sales by nearly 3 million vehicles in four years, while the operating income has more than tripled on the existing basis. However, we believe that by adhering to the innovation of subdivision categories and continuing to increase investment in research and development, the seeds planted by Great Wall Motors today have the opportunity to break through the ground and grow into towering trees, especially with the gradual increase in the proportion of global business, Great Wall Motors will usher in a bigger stage in the global market.