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Consumer Durables

Great Wall Motor Co., Ltd.

Company Background

Great Wall Motor is a privately-run Chinese automaker headquartered in Hebei Province. It is among the top three privately-run Chinese automakers, along with Zhejiang Geely Holding Group and Chery Automobile.

Founded in 1984, Great Wall Motor has mainly produced sport utility vehicles and pick-up trucks. It recently launched a line of passenger cars as well. The company went public on the Hong Kong stock exchange in 2003 and got listed on the Shanghai Stock Exchange in 2011.

The automaker has about 60,000 employees on its payroll and operates four domestic plants in China. It has ramped up sales of the Great Wall series of SUVs as well as pickup trucks over the years. The company's annual domestic sales came to about 700,000 units in 2014.

Great Wall Motor started exporting vehicles in 1998. Russia, Chile and South Africa are its main export destinations. The company plans to build a new SUV plant in Thailand.

Wei Jianjun serves as Great Wall Motor's chairman and is referred to as a "military man" due to his strict management style. As such, he strictly supervises production management at its auto plants, research and development as well as sales and marketing strategies.

The company has achieved growth without forming partnerships with major foreign carmakers. It is now trying to develop eco-friendly vehicles, such as plug-in hybrids.

Business Summary

Great Wall Motor Co., Ltd. engages in the design, development, production, sale, and distribution of automobiles. The firms products include sport utility vehicles, cars, pickups, and car-related automotive. Its brands include HAVAL, WEY, ORA, and GWM PICKUP. The company was founded on August 30, 1984 and is headquartered in Baoding, China.

Financial Highlights

Dec 2020 HKDUSD
Revenue112,835.48M14,548.16M
Gross Profit16,464.98M2,122.87M
Operating income4,998.51M644.47M
Income before tax5,972.81M770.08M
Net income6,025.79M776.92M
EBITDA10,480.03M1,351.21M
Diluted EPS0.650.08
Dividends Per Share0.330.04
Total Assets182,602.21M23,549.87M
Total liabilities110,510.94M14,252.39M
Total equity67,986.80M8,768.13M
Operating cash flow6,570.17M847.10M
Currency in HKDCurrency in USD

Historical Data

 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 110,746.09M 112,153.61M 113,236.87M 105,501.95M 112,835.48M
Gross Profit 23,608.54M 17,323.73M 16,094.64M 14,469.36M 16,464.98M
Operating income 14,470.37M 6,477.23M 6,575.41M 4,739.31M 4,998.51M
Income before tax 14,585.43M 7,187.15M 7,671.79M 5,439.22M 5,972.81M
Net income 12,328.16M 5,796.91M 6,167.82M 5,099.08M 6,025.79M
EBITDA 17,463.60M 10,167.04M 11,173.64M 9,970.96M 10,480.03M
Diluted EPS 1.35 0.63 0.67 0.55 0.65
Dividends Per Share 0.39 0.21 0.33 0.27 0.33
Total Assets 103,138.75M 132,705.71M 127,492.39M 126,509.12M 182,602.21M
Total liabilities 48,466.97M 71,810.59M 65,033.62M 63,205.35M 110,510.94M
Total equity 52,764.03M 58,983.31M 59,897.06M 60,850.72M 67,986.80M
Operating cash flow 10,366.51M -1,083.66M 23,574.80M 15,961.58M 6,570.17M
 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 14,266.88M 14,391.92M 14,448.00M 13,465.12M 14,548.16M
Gross Profit 3,041.37M 2,223.03M 2,053.53M 1,846.71M 2,122.87M
Operating income 1,864.14M 831.18M 838.96M 604.87M 644.47M
Income before tax 1,878.97M 922.27M 978.85M 694.20M 770.08M
Net income 1,588.17M 743.87M 786.95M 650.79M 776.92M
EBITDA 2,249.75M 1,304.66M 1,425.65M 1,272.58M 1,351.21M
Diluted EPS 0.17 0.08 0.08 0.07 0.08
Dividends Per Share 0.05 0.02 0.04 0.03 0.04
Total Assets 13,302.81M 16,975.90M 16,283.90M 16,236.18M 23,549.87M
Total liabilities 6,251.26M 9,186.11M 8,306.38M 8,111.77M 14,252.39M
Total equity 6,805.49M 7,545.22M 7,650.32M 7,809.58M 8,768.13M
Operating cash flow 1,335.46M -139.05M 3,007.93M 2,037.16M 847.10M

Valuation Measures

Dec 2020
PER40.29
ROA3.89%
ROE9.35%
Operating margin4.42%
Profit margin5.34%

Key executives

  • Vice Chairman & General Manager: Feng Ying Wang
  • Chief Financial Officer: Hong Shuan Li
  • Deputy General Manager: Guo Qing Zhao
  • Senior Manager: Qian Ye
  • Securities Representative: Yong Jun Chen

Shareholders

  • Schroder Investment Management Ltd. (3.9%)
  • The Vanguard Group, Inc. (3.3%)
  • BlackRock Fund Advisors (2.4%)
  • Bosera Asset Management Co., Ltd. (1.8%)
  • Schroder Investment Management (Hong Kong) Ltd. (1.6%)
  • Fidelity Management & Research Co. LLC (1.3%)
  • WEI JIAN JUN (1.2%)
  • Dimensional Fund Advisors LP (0.9%)
  • China Universal Asset Management Co., Ltd. (0.9%)
  • Orient Securities Asset Management Co. Ltd. (0.8%)

Contact Details

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Competitors

  • Guangzhou Automobile Group Co., Ltd. Class H
  • Beiqi Foton Motor Co., Ltd. Class A
  • General Motors Company
  • Volkswagen AG Pref
  • SAIC Motor Corporation Limited Class A
  • Toyota Motor Corp.
  • Brilliance China Automotive Holdings Limited
  • BAIC Motor Corporation Limited Class H
  • Jiangling Motors Co., Ltd. Class A
  • Nissan Motor Co., Ltd.
  • Anhui Jianghuai Automobile Group Corp., Ltd. Class A
  • Dongfeng Motor Group Co., Ltd. Class H
  • Tesla Inc
  • BYD Company Limited Class H
  • Chongqing Changan Automobile Company Limited Class A
  • Honda Motor Co., Ltd.
  • Isuzu Motors Limited
  • Li Auto, Inc. Class A
  • Niocan Inc.
  • Dongfeng Automobile Co., Ltd. Class A
  • Hanma Technology Group Co., Ltd. Class A
Last Updated on 25 Oct, 2021

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