Wei Jianjun of Great Wall Motors: Enterprises are to create value, and long-term losses are unsustainable

Tencent News frontline

2024-05-10 15:58Posted on the official account of Hebei Tencent News

Tencent News "Frontline" Aodun

On May 10, Wei Jianjun, chairman of Great Wall Motors, said at the company's annual general meeting of shareholders that from the perspective of the entire industry, the losses of the electric vehicle industry will continue to increase in 2023, and the competition in the automobile market will remain fierce from 2024 to 2026.

"Enterprises are all about creating value, and long-term losses are unsustainable." Wei Jianjun said that in the long run, the car should do something and not do something, give full play to the company's long version, and continue to vigorously promote products that do not lose or lose slightly.

According to the financial report, Great Wall Motor Co., Ltd. achieved operating income of 42.86 billion yuan in the first quarter, a year-on-year increase of 47.6%; net profit was 3.228 billion yuan, a year-on-year increase of 1752.55%; Basic earnings per share was 0.38 yuan, a year-on-year increase of 1800%.

In the first quarter of 2024, Great Wall Motor sold 275,300 new vehicles, a year-on-year increase of 25.11%. Among them, the sales volume of new energy vehicles was 59,200, a year-on-year increase of 112.82%; Overseas sales reached 92,800 units, a year-on-year increase of 78.51%.

Wei Jianjun said that pickup trucks, tanks, and Haval are the long versions of Great Wall Motors, although Great Wall Motors is not the first in terms of exports, but the earliest export car company, Great Wall Motors' overseas sales will exceed 300,000 units in 2023, and this year's goal is to ensure 400,000 units and strive for 500,000 sales.

When it comes to the transformation of new energy, Li Ruifeng, CGO of Great Wall Motors, said that Great Wall Motors is currently a model of parallel development of PHEV and BEV routes, and in terms of products, Haval, Tank and Wei brands are making parallel efforts.

In response to the question that "ORA is a niche brand", Li Ruifeng responded that as a positioning female brand, ORA is remembered in such a fiercely competitive BEV market, which in itself shows that ORA is successfully creating a new category, and consumer minds are gradually forming.

According to the data, ORA sold 15,029 units in the first quarter, a year-on-year decrease of 15.4%. Wei Jianjun said that although ORA is a niche, it has few losses, "the losses of the models with large sales are small, and the losses of those that sell less are large, and this strategy will continue."

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