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Great Wall Motor said that its net profit attributable to shareholders for the first half of the year is expected to amounted to 1.15 billion – 1.55 billion yuan, slumping 72.32% – 79.47% from a year earlier.
The decline was mainly due to the company’s deepening transformation into new energy and intelligence, adjustments to product structures, increased investments in brands and channels for new products, investments in new energy and intelligence R&D, as well as the decrease in foreign exchange gains, it said.
Great Wall Motor sold about 105,000 units of cars in June, rising by 3.7% from a year earlier, and in the first half of the year, it sold a total of 519,200 cars, rising slightly by 0.14% year over year, it said.
In particular, the company’s new energy vehicle sale reached 26,700 units in June, surging 110.3% from a year earlier, and its NEV sales in the first half reached 93,200 units, rising by 46.6% from a year earlier.