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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 2021 HKDUSD
Revenue159,293.39M20,493.59M
Gross Profit21,131.37M2,718.61M
Operating income4,473.16M575.48M
Income before tax7,792.35M1,002.51M
Net income8,106.36M1,042.90M
EBITDA11,214.54M1,442.78M
Diluted EPS0.880.11
Dividends Per Share0.440.05
Total Assets214,570.60M27,522.10M
Total liabilities133,539.78M17,128.61M
Total equity75,994.62M9,747.52M
Operating cash flow43,227.98M5,561.41M
Currency in HKDCurrency in USD

Historical Data

 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 112,153.61M 113,236.87M 105,501.95M 112,835.48M 159,293.39M
Gross Profit 17,323.73M 16,094.64M 14,469.36M 16,464.98M 21,131.37M
Operating income 6,477.23M 6,575.41M 4,739.31M 4,998.51M 4,473.16M
Income before tax 7,187.15M 7,671.79M 5,439.22M 5,972.81M 7,792.35M
Net income 5,796.91M 6,167.82M 5,099.08M 6,025.79M 8,106.36M
EBITDA 10,167.04M 11,173.64M 9,970.96M 10,480.03M 11,214.54M
Diluted EPS 0.63 0.67 0.55 0.65 0.88
Dividends Per Share 0.21 0.33 0.27 0.33 0.44
Total Assets 132,705.71M 127,492.39M 126,509.12M 182,602.21M 214,570.60M
Total liabilities 71,810.59M 65,033.62M 63,205.35M 110,510.94M 133,539.78M
Total equity 58,983.31M 59,897.06M 60,850.72M 67,986.80M 75,994.62M
Operating cash flow -1,083.66M 23,574.80M 15,961.58M 6,570.17M 43,227.98M
 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 14,391.92M 14,448.00M 13,465.12M 14,548.16M 20,493.59M
Gross Profit 2,223.03M 2,053.53M 1,846.71M 2,122.87M 2,718.61M
Operating income 831.18M 838.96M 604.87M 644.47M 575.48M
Income before tax 922.27M 978.85M 694.20M 770.08M 1,002.51M
Net income 743.87M 786.95M 650.79M 776.92M 1,042.90M
EBITDA 1,304.66M 1,425.65M 1,272.58M 1,351.21M 1,442.78M
Diluted EPS 0.08 0.08 0.07 0.08 0.11
Dividends Per Share 0.02 0.04 0.03 0.04 0.05
Total Assets 16,975.90M 16,283.90M 16,236.18M 23,549.87M 27,522.10M
Total liabilities 9,186.11M 8,306.38M 8,111.77M 14,252.39M 17,128.61M
Total equity 7,545.22M 7,650.32M 7,809.58M 8,768.13M 9,747.52M
Operating cash flow -139.05M 3,007.93M 2,037.16M 847.10M 5,561.41M

Valuation Measures

Dec 2021
PER30.34
ROA4.08%
ROE11.26%
Operating margin2.80%
Profit margin5.08%

Key executives

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

Shareholders

  • E Fund Management Co., Ltd. (4.9%)
  • Schroder Investment Management (Hong Kong) Ltd. (3.5%)
  • The Vanguard Group, Inc. (3.5%)
  • BlackRock Fund Advisors (2.5%)
  • Bosera Asset Management Co., Ltd. (2.3%)
  • Schroder Investment Management (Singapore) Ltd. (2.1%)
  • Orient Securities Asset Management Co. Ltd. (1.7%)
  • WEI JIAN JUN (1.2%)
  • China Merchants Fund Management Co., Ltd. (1.0%)
  • Aegon-Industrial Fund Management Co., Ltd. (0.7%)

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.
  • 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
  • Hanma Technology Group Co., Ltd. Class A
Last Updated on 24 Jun, 2022

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