On May 10, Great Wall Motors held the "Great Wall Motors Annual General Meeting of Shareholders On-site Exchange Meeting", Great Wall Motors Chairman Wei Jianjun, President Mu Feng, Chief Growth Officer Li Ruifeng, Chief Technology Officer Wang Yuanli and other senior leaders, in an open and honest way to introduce the operation of Great Wall Motors, the future product technology development route, and how to continue to maintain the advantage of tanks in the future competition, etc., through more than 1 hour of on-site exchanges, so that we can clearly see the future development direction of Great Wall Motors.
Adhering to long-termism and high-quality growth, the eight major growth shows the initial success of the Great Wall's strategic transformation
Before the start of the exchange, Li Hongshui, secretary of the board of directors of Great Wall Motors, made a brief report on the operation of Great Wall Motors, of which the total operating income in 2023 will be 173.2 billion yuan, a year-on-year increase of 26.12%, while the net profit will reach 7.023 billion yuan, and the overseas revenue will reach 53.6 billion yuan, a year-on-year increase of 100%. In terms of sales, it will end in 2023 with 1.23 million units, a year-on-year increase of 15.85%, of which new energy vehicles will increase by 113.88% year-on-year. In addition, it has achieved all-round growth in eight aspects, including non-net profit attributable to the parent company, total assets of the enterprise, overseas annual sales, and sales of models of more than 200,000 yuan, demonstrating the hard core strength of Great Wall Motors and the initial success of the company's strategic transformation.
Not only that, in the first quarter of 2024, Great Wall Motors is still very strong, with its operating income in the first quarter reaching 42.86 billion yuan, a year-on-year increase of 47.60%, and sales of 275,300 new cars, a year-on-year increase of 25.11%. Even at a time when the new energy market is being impacted, the brand's sales of new energy vehicles are doubling compared with the same period last year. And these boil down to the brand's bottom-line thinking, long-termism, when the loss of electric vehicles is serious, moderately less sales, give full play to the longboard advantages in pickup trucks and tank models.
Adhering to long-termism and high-quality growth, technology empowers Great Wall Motors to make steady progress in the era of great change
As we all know, the current automobile industry is a subversive era, in this change not only technological change and consumption change, but also the entire consumer environment is also undergoing earth-shaking changes, and then there are new energy and intelligent emerging forces to join, how to gain a firm foothold in the fierce market competition, establish a market position is a problem that every car company urgently needs to solve.
Through the answers of the leaders, it is not difficult for us to find that in order to achieve sales growth, in addition to expanding the brand marketing "store" in marketing, the goal will also turn to the channel, starting from May this year, the brand will adopt the "double sales" model, simply put, to maintain the existing dealer system, increase the "Great Wall Zhixuan" direct sales model, the formation of a mutually complementary channel form, according to Wei Jianjun said that "the reason for doing direct sales, is really no way." Although the product strength of the WEY brand is not bad, there are deficiencies in the car sales channel, and the "double sales" model can reduce the pressure on the dealer's inventory in the front warehouse, showing the reserve function at the same time, and can do 1+1+N, N is directly connected with the customer or closer to the scene, better connect users.
To this end, Wang Yuanli, chief technology officer of Great Wall Motors, said that "in the past few years, we have invested heavily in research and development, and we have a lot of forward-looking research and development projects in the fields of power, new energy, intelligent cockpit, automatic driving, intelligent chassis, etc." In addition, Wang Yuanli also said that Great Wall Motors is also increasing investment in research and development capabilities, such as the only wind tunnel laboratory in China's main engine factory under construction, which can realize a series of experiments on commonly used cars, even racing cars, sports cars, and motorcycles, and has eight technology research and development bases in China, increasing investment in software and AI intelligence, including intelligent driving models, AI code models, language models, etc.
It is worth noting that, according to Wang Yuanli, the 4C supercharging capacity of Great Wall Motors has been developed, and the verification of 6C ultra-fast charging cells is currently being done, and the technology can achieve 5,000 kilometers of energy in 10 minutes. In addition, solid-state batteries are also under development, and now have the ability of all-solid-state pouch cells, and will launch 800V high-voltage electric drive all-in-one products in the future, with a comprehensive working efficiency of 93%.
Adhering to long-termism and high-quality growth, Great Wall Motor has created its own market rhythm
Friends in the car circle may have discovered that there are more and more models of square boxes now, and this is probably due to the tank brand, you must know that since the advent of the tank brand in 2020, it has only taken more than 4 years to have 400,000 customer groups, achieving a 55% market share of domestic off-road vehicles.
Perhaps, as Wei Jianjun said, "the square box car does not represent off-road, and now the square box car can only represent a trend of styling, and I will make a supplement to the degree that everyone likes." However, from the price range of 300, 400 to 500 and 700, from 200,000 to 500,000, the rich product layout just meets the diversified needs of today's consumers. Of course, with the addition of new energy, the tank brand also uses Hi4-T intelligent off-road exclusive platform, as well as Hi4-T exclusive four-wheel drive technology, to create its own unique technical advantages, and can also cover gasoline 3.0, even HEV, PHEV and other power, so that customers will not choose Jeep Wrangler, only Rubicon or Sahara, fuel, plug-in hybrid single single and several fixed options.
Write to the end:
I have to say that through this exchange meeting, it is not difficult for us to find that Great Wall Motors has made a relatively long-term and comprehensive layout in terms of technology, products, and marketing, and has walked out of its own exclusive upward road by relying on the development strategy of adhering to long-termism and insisting on quality growth, so that Great Wall Motors is not afraid of challenges in the face of fierce market competition!