Di Yi Cai Jing·2025-09-01 09:51Core Viewpoint - The Chinese automotive market is experiencing a "price war," leading to an average profit margin of less than 5%, the lowest in recent years. However, Great Wall Motors is entering a new cycle of high-quality growth, as evidenced by its strong financial performance in Q2 2025 [1][12]. Financial Performance - In Q2 2025, Great Wall Motors reported revenue of 52.316 billion yuan, a year-on-year increase of 7.72% and a quarter-on-quarter increase of 30.73%, marking the best Q2 revenue in history [1]. - The net profit for the same period reached 4.586 billion yuan, up 19.42% year-on-year and a staggering 161.87% quarter-on-quarter, also the best Q2 performance historically [1]. Sales Growth - Great Wall Motors achieved cumulative sales of 312,000 vehicles in Q2 2025, representing a year-on-year increase of 11.63% and a quarter-on-quarter increase of 21.51%, the best Q2 sales performance ever [2]. - Sales of new energy vehicles reached 97,900 units, up 38.69% year-on-year and 56.46% quarter-on-quarter [2]. Product Strategy - The growth in profit is attributed to a deep optimization of product structure, with an increasing proportion of high-end models contributing to higher vehicle value [3]. - The high-end brand Wey has seen sales exceed 40,000 units from January to July 2025, with the new flagship model, Wey's "Gao Shan," achieving significant sales [3]. Market Positioning - Great Wall Motors is a pioneer in the off-road vehicle market in China, with its Tank brand leading in this segment. The Tank 300, a popular model, has been upgraded to meet diverse customer needs [5]. - The company emphasizes "quality market share" over merely increasing sales through lower prices, focusing on technology and product value [8]. Global Expansion - Great Wall Motors is expanding its high-value models into overseas markets, with several models launched in countries like Thailand, Australia, and Mexico, adopting a "localization" strategy [6]. - The establishment of a factory in Brazil serves as a strategic hub for the Latin American market, enhancing local service capabilities [6]. R&D and Innovation - The company has invested over 10 billion yuan in R&D for three consecutive years, with a team of 23,000 and nearly 50,000 patent applications [9]. - Great Wall Motors leads in the number of patents in the intelligent cockpit field and has made significant advancements in electric and intelligent technologies [9][10]. Future Outlook - The company plans to launch multiple new products in the second half of 2025, including entries into the motorcycle and heavy truck markets, further broadening its business scope [11]. - Great Wall Motors is transitioning from "scale growth" to "value growth," driven by a long-term strategy focused on value creation [12].