ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Automobiles

China's Great Wall Motor posts profit surge on Russia business

SUV maker records gains as Western rivals wind down operations

Great Wall Motor boosted its market share of its core brand Haval to 3.7% in Russia as Western rivals pull out of the country.   © Getty Images

HONG KONG -- Great Wall Motor, the largest Chinese SUV maker, has reported 59% year-on-year growth in net profit for the first six months of this year, owing to its operations in Russia, where Western competitors are winding down their presence since the Ukraine invasion.

The automaker's first-half net profit of 5.60 billion yuan ($812 million) marked a sharp increase from 3.52 billion yuan a year ago. But that profit figure shrinks to just 2.05 billion yuan after removing nonrecurring gains, which jumped by 5.2 times to 3.54 billion yuan.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more