Shen Zhen Shang Bao·2026-01-04 06:42Core Viewpoint - Great Wall Motors (601633) is significantly behind its sales target for 2025, achieving only 33.09% of the goal with 132.37 million vehicles sold in 2025, while the target was set at 400 million vehicles [2] Group 1: Sales Performance - In 2025, Great Wall Motors reported total sales of 132.37 million vehicles, a year-on-year increase of 7.33%, but this is only 33.09% of the 400 million vehicle target [2] - The company’s overseas sales reached 506,100 vehicles, surpassing the sales of new energy vehicles, which totaled 403,600 units [2] - December sales were disappointing, with a total of 124,000 vehicles sold, reflecting an 8.33% year-on-year decline, and the Haval brand saw a 20.34% drop in sales [2] Group 2: Financial Performance - For the first three quarters of 2025, Great Wall Motors reported revenue of 153.58 billion yuan, a 7.96% increase year-on-year, but net profit fell by 16.97% to 8.635 billion yuan [3] - In Q3 alone, revenue was 61.25 billion yuan, up 20.51% year-on-year, while net profit decreased by 31.23% to 2.298 billion yuan [3] - Sales expenses surged to 7.948 billion yuan from 5.110 billion yuan in the previous year, while R&D expenses increased to 6.636 billion yuan from 6.210 billion yuan [3] Group 3: Strategic Goals and Investments - The chairman of Great Wall Motors, Wei Jianjun, set ambitious targets in June 2021, aiming for annual sales of 4 million vehicles, with 80% being new energy vehicles and revenue exceeding 600 billion yuan by 2025 [2] - The company plans to invest a total of 100 billion yuan in R&D over the next five years [2] - Great Wall Motors has been focusing on building new channels to connect directly with users and increasing marketing efforts for new models and technologies [3]