Xin Lang Cai Jing·2025-10-24 23:49Core Insights - Great Wall Motors reported a revenue increase in Q3 but experienced a significant decline in net profit, indicating challenges in profitability despite higher sales [1][2]. Financial Performance - The company achieved a revenue of 61.25 billion yuan in Q3, representing a year-on-year growth of 20.51% [1][2]. - Net profit attributable to shareholders was 2.30 billion yuan, down 31.23% compared to the previous year [1][2]. - Basic earnings per share were 0.27 yuan, a decrease from 0.39 yuan in the same period last year [2]. Sales and Expenses - Sales expenses surged to 7.95 billion yuan, a substantial increase of 55.74% from 5.11 billion yuan in the previous year [3]. - For the first nine months of the year, Great Wall Motors sold 919,800 vehicles, marking an 8.03% increase year-on-year [3]. - The sales of the Ora brand, targeting the female market, were disappointing, with only 30,000 units sold, down 30.12% year-on-year [3]. Brand Performance - The Haval, Great Wall Pickup, and Tank brands showed slight growth, while the high-end WEY brand experienced a remarkable increase of 99.85% [3]. - Overseas sales remained strong, with 334,200 units sold in the first nine months, accounting for 36.2% of total sales [3]. New Energy Vehicles - Great Wall Motors sold 278,500 new energy vehicles in the first nine months, representing 30.28% of total sales [3]. - The company's new energy vehicle penetration rate is projected to be 26.1% in 2024, still below the overall market penetration rate of approximately 50% [3].