△ In 2023, Great Wall Motor will achieve nine major growths. The total operating income was RMB173.212 billion, up 26.12% year-on-year, net profit attributable to the parent company was RMB4.834 billion, up 7.98% year-on-year, overseas revenue was RMB53.611 billion, up 100.41% year-on-year, and total assets reached RMB201.270 billion, up 8.59% year-on-year.
△In 2023, Great Wall Motor will achieve sales of 1.23 million units, a year-on-year increase of 15.85%. Among them, the sales of new energy vehicles were 256,400, a year-on-year increase of 113.88%, and the overseas annual sales were 314,000, a year-on-year increase of 82.37%;
△In 2023, Great Wall Motor's average revenue per vehicle will be 141,400 yuan, an increase of 12,000 yuan year-on-year, and the sales of models above 200,000 yuan will be 225,800 units, a year-on-year increase of 3.09 percentage points.
On March 28, Great Wall Motor Co., Ltd. (stock code 601633. SH, 02333.HK, 82333.HK; hereinafter referred to as "Great Wall Motor") released its 2023 annual report, thanks to the long-term strategy, Great Wall Motor's total operating income in 2023 was 173.212 billion yuan, a year-on-year increase of 26.12%, a record high, net profit reached 7.023 billion yuan, net profit deducted from non-attributable parent company was 4.834 billion yuan, a year-on-year increase of 7.98%, and overseas revenue was 53.611 billion yuan, a year-on-year increase of 100.41%; Total assets reached RMB201.270 billion, representing a year-on-year increase of 8.59%.
After 34 years of accumulation and several economic cycles and market changes, Great Wall Motor's achievements in 2023 are the best proof of adhering to long-termism, practicing the enterprise spirit of "making a little progress every day", and achieving continuous self-innovation.
Achieved nine major growth results, and achieved remarkable strategic transformation and successful market expansion
In 2023, Great Wall Motors achieved significant nine major growths. While the total operating income, overseas revenue, net profit deducted from non-attributable to the parent company and total assets increased, Great Wall Motor will achieve sales of 1.23 million units in 2023, a year-on-year increase of 15.85%. Among them, the sales of new energy vehicles were 256,400 units, a year-on-year increase of 113.88%, and the overseas annual sales were 314,000 units, a year-on-year increase of 82.37%, a record high.
At the brand level, Great Wall Motors has also achieved remarkable results. In 2023, Great Wall Motor's average revenue per vehicle will be 141,400 yuan, an increase of 12,000 yuan year-on-year, a record high, and the sales of models above 200,000 yuan will be 225,800 units, accounting for 18.36%, a year-on-year increase of 3.09 percentage points, a record high. The nine major growth shows the strong strength of Great Wall Motors, and also reflects the success of the company's strategic transformation and market expansion.
In 2023, with the support of the forest ecosystem, Great Wall Motor will make full efforts to develop intelligent new energy, accelerate the optimization of product structure, and develop the layout of all categories of the five major brands, and realize the coverage of all scenarios and categories. Thanks to this, Great Wall Motor's brand influence is increasing day by day, and both have achieved year-on-year sales growth. Among them, Haval relies on Hi4 intelligent four-wheel drive electric hybrid technology, and the annual sales of new energy have soared year-on-year, tank SUVs have become the first choice for off-road new energy, and Great Wall pickup trucks occupy the TOP1 in their market segments, with a domestic terminal market share of nearly 50%.
R&D investment exceeds 10 billion yuan, and technology leads to show the hard power of the industry
Nowadays, the relationship between R&D investment and sales growth is becoming more and more important. In 2023, Great Wall Motor's R&D investment will reach 11.034 billion yuan, accounting for 6.37% of revenue, and the number of R&D personnel will exceed 24,100, accounting for 29.30% of the total number of people. This once again demonstrates that Great Wall Motors has always attached great importance to technology research and development, and is the key foundation for Great Wall Motors to stand out in the fierce market competition.
In 2023, Great Wall Motor will adhere to the independent research and development of core technologies, and have made important progress in multiple technical routes such as hybrid, pure electric, and hydrogen energy. Among them, Great Wall Motor's Hi4, Hi4-T, Hi4 performance version, as well as pictureless full-scene intelligent NOA, etc., are all Great Wall Motor's innovative achievements and breakthroughs in the field of intelligent new energy. These technologies can not only enhance the competitiveness of Great Wall Motor's products, but also bring users a better and intelligent travel experience.
The globalization strategy is advancing rapidly, opening up a new path for high-quality ecology to go to sea
In 2023, with the "ONE GWM" brand as its program, Great Wall Motor has always adhered to high-quality overseas expansion, landing in more than 170 countries and regions, with more than 1,000 international sales channels and more than 1.4 million international users becoming GWM owners. High-value models such as the Tank 300 and Tank 500 have been launched globally, accelerating their landing in more than 30 countries and regions around the world, and the Tank 300 has ranked second in the world's hard-core off-road sales, creating a new business card for Chinese automobiles.
In order to further expand the overseas market, Great Wall Motor will make every effort to accelerate overseas localized production and product layout in 2023, among which the Great Wall cannon produced by the KD plant in Ecuador officially rolled off the production line, and the KD plant in Pakistan also ushered in a milestone moment, and the sales volume of new energy locally produced products ranked first in the local market. In Malaysia, Uzbekistan and other markets, Great Wall Motors is working with partners to actively promote localized production and embark on a new path of "vehicle manufacturing + supply chain system" to go overseas.
In 2024, Great Wall Motor's overseas sales will continue to break through, and all five major brands will achieve overseas sales. Ora Good Cat rolled off the assembly line at the Rayong factory in Thailand, realizing the overseas mass production of the first pure electric vehicle model, and the pre-sale of the Shanhai Cannon at the Bangkok Motor Show, etc., opened a magnificent prelude to the "ecological going to sea" and then speeding up.
2023 is the epitome of Great Wall Motor's long-term strategy, not only continuing to deepen in the domestic market, but also actively deploying in the global market, drawing a grand global blueprint for GWM. In 2024, Great Wall Motor will continue to uphold long-termism, rely on the integrated ecology of research, supply, production and sales, build an aircraft carrier-level product cluster to go overseas, build a reliable GWM brand image for global users, and make greater contributions to the sustainable development of the global automotive industry.