Great Wall Motor said that the increase in net profit attributable to shareholders of the parent company was mainly due to the company’s optimization of product structure during the reporting period, the increase in gross profit due to the increase in the selling price of bicycles, and the increase in exchange rate gains.
However, in terms of research and development, Great Wall Motors also invested a lot in the first half of the year. The research and development expenses in the first half of the year were 3.18 billion yuan, a year-on-year increase of 70.99%, exceeding the growth rate of net profit.
Great Wall Motor pointed out in the financial report,The increase in research and development expenses was mainly due to the increase in research and development investment in intelligent, electrified and new model projects during the reporting period;
In terms of sales volume, due to factors such as the epidemic in the first half of the year, limited parts supply and logistics, and rising raw material costs, Great Wall Motors sold 512,553 vehicles in the first half of the year, a year-on-year decrease of 16.58%.
According to the previous plan, the annual sales target of Great Wall Motors this year is 1.9 million units, and Great Wall Motors only completed 27.3% of the annual sales target in the first half of the year.