Long article translation requested, so here it is:
In the first quarter of this year, following last year’s increase in revenue without profit growth, Great Wall Motors Co., Ltd. (Great Wall Motors) saw a 12.72% year-on-year increase in total operating revenue, but a significant 46.01% decrease in net profit attributable to the parent company.
On the evening of April 24, Great Wall Motors announced that in the first quarter of 2026, the total operating revenue reached 45.109 billion yuan, a 12.72% increase year-on-year. Net profit attributable to the parent company was 945 million yuan, a 46.01% decrease year-on-year. Non-GAAP net profit was 482 million yuan, down by 67.19% year-on-year, with basic earnings per share of 0.11 yuan, a 47.62% decrease year-on-year.
Great Wall Motors stated in its financial report that the main reason for the decline in net profit year-on-year was mainly due to higher exchange gains brought about by exchange rate fluctuations during the same period in 2025.
In terms of sales performance, in the first quarter of 2026, Great Wall Motors saw overall sales volume growth, selling a total of 269,100 new vehicles, a 4.79% increase year-on-year. Among them, in March, the monthly sales of new vehicles reached 106,200, an 8.38% increase year-on-year. By market, overseas markets have become the core growth engine, with accumulated overseas sales reaching 130,000 vehicles in the first quarter, a 43.1% increase year-on-year, accounting for 48.3% of total sales.
As of the close of trading on the 24th, Great Wall Motors fell by 1.08% to 20.23 yuan per share.
On March 29, the company released its “2025 Annual Report.”
The report showed, “In 2025, operating income reached a record high of 222.824 billion yuan, up 10.20% year-on-year.” Meanwhile, net profit attributable to shareholders of listed companies was 9.865 billion yuan, a 22.07% decrease year-on-year. This indicates that the rate of decline in net profit accelerated in the first quarter of this year.
Of note is that Great Wall Motors had previously lowered its sales target for 2026 from no less than 2.49 million vehicles to no less than 1.8 million vehicles.
Public data shows that Great Wall Motors was established in 1984, headquartered in Baoding, Hebei Province. Its businesses include automobile and component design, research and development, production, sales, and services, with six major brands: Haval, WEY, ORA, Tank, Great Wall Pickup, and Great Wall EV. It was listed on the Hong Kong Stock Exchange in 2003 and the A-share market in 2011.