Great Wall Motor Company Limited

Is Great Wall Motors publicly traded?
Yes, Great Wall Motor Company Limited is publicly traded on both the Hong Kong Stock Exchange (H shares: 02333 HKD counter, 82333 RMB counter, listed December 2003) and the Shanghai Stock Exchange (A shares: 601633, listed September 2011). The company is widely held by institutional and individual investors in domestic and international markets. Founder Wei Jianjun maintains significant influence through his shareholding and position as Chairman.

Who founded Great Wall Motors?
Great Wall Motors was founded in 1984 by Wei Jianjun in Baoding, Hebei Province, China. Wei Jianjun continues to serve as Chairman and maintains significant influence over the company's strategic direction. He has led the company's transformation from a small local manufacturer into one of China's major automotive manufacturers and exporters.

How many cars does Great Wall Motors sell?
Great Wall Motors sold 1,323,800 vehicles in 2025, up 7.23 percent year over year, achieving a record high. Overseas sales reached 506,800 units (up 11.60 percent), and new energy vehicle sales totaled 406,000 units (up 26.00 percent). NEV penetration was 30.5 percent of total sales. For 2026, GWM targets 1.8 million vehicle sales, a 36 percent increase.

What brands does Great Wall Motors own?
GWM operates seven brands: Haval (mainstream SUVs, 761,487 units in 2025), TANK (premium off-road SUVs, 234,442 units), WEY (premium new energy, 99,617 units), ORA (electric vehicles, 48,312 units), GWM Pickup (pickup trucks, 178,936 units), GWM SOUO (touring motorcycles, 500-plus units delivered in 2025), and GWM Commercial Vehicles (heavy-duty trucks, 502 units). The company also offers multiple powertrain options including gasoline, diesel, pure electric, hybrid, plug-in hybrid, and hydrogen fuel cell.

What is Great Wall Motors' revenue?
Great Wall Motors reported FY2025 total operating revenue of RMB 222.82 billion (approximately $30.6 billion), up 10.20 percent from RMB 202.19 billion in FY2024. Revenue from automobile sales was RMB 195.85 billion. Net profit attributable to shareholders was RMB 9.87 billion (down 22.07 percent), with basic EPS of RMB 1.16. R&D expenses were RMB 10.43 billion, and selling expenses were RMB 11.27 billion. The proposed dividend is RMB 0.35 per share.

Does Great Wall Motors sell cars internationally?
Yes, GWM has significant international operations. Overseas sales reached 506,800 units in 2025, up 11.60 percent, setting a record. The company has manufacturing plants in Thailand, Brazil, Russia, and Pakistan, and distribution networks across Europe, Africa, the Middle East, Asia, South America, and Oceania. The GWM Cannon pickup leads sales in Australia, South Africa, and Chile, with presence in over 60 countries. GWM closed its European headquarters in Munich in 2024 due to low sales but continues European operations through alternative channels.

What is Great Wall Motors' 2026 target?
GWM targets 1.8 million vehicle sales in 2026, a 36 percent increase from 2025's 1,323,800 units. New energy vehicle penetration is targeted to exceed 50 percent, up from 30.5 percent in 2025. This requires adding nearly 500,000 units to 2025's volume and significantly accelerating NEV adoption.

Great Wall Motors was founded in 1984 by Wei Jianjun in Baoding, Hebei Province, China. The company initially focused on manufacturing trucks and commercial vehicles, using a modified approach to vehicle production that drew on existing truck platforms. In the late 1990s, GWM expanded into passenger vehicles, positioning itself in the SUV and pickup truck segments.

The company's strategic focus on SUVs and pickup trucks proved successful as Chinese consumer preferences shifted toward these vehicle types. GWM became China's largest pickup truck manufacturer, a position it has held for 28 consecutive years as of 2025. The company also established itself as one of China's leading SUV producers.

GWM listed its H shares on the Hong Kong Stock Exchange in December 2003 (stock code 02333) and its A shares on the Shanghai Stock Exchange in September 2011 (stock code 601633). The dual listing provided access to both international and domestic capital markets.

In the 2010s, GWM began its international expansion, establishing manufacturing plants and distribution networks across Asia, Africa, South America, and Europe. The company invested in research and development, particularly in new energy vehicle technology, autonomous driving systems, and smart cockpit technologies. R&D centers were established in China, Japan, Germany, the United States, and India.

The Haval brand became GWM's volume leader, with the Haval H6 serving as China's best-selling SUV for multiple years. In 2025, the Haval Dargo series emerged as the brand's new best-seller with 182,300 units sold, replacing the Haval H6 in that role.

GWM restructured its brand portfolio in the 2020s, launching TANK as a separate premium off-road brand (previously a Haval sub-brand), positioning ORA as an electric vehicle brand, and elevating WEY as a premium new energy brand. The company also expanded beyond passenger vehicles, launching GWM SOUO touring motorcycles in 2025 and GWM Commercial Vehicles.

In 2024, GWM closed its European headquarters in Munich due to low sales volumes (only 6,300 vehicles sold in Europe in 2023). European operations continue through alternative distribution channels, including direct dealer relationships. Despite this setback, overseas sales reached a record 506,800 units in 2025, driven by strong performance in markets such as Australia, South Africa, and Chile.

In 2025, GWM launched several new models including the ORA 5 (the brand's first SUV, launched December 16, 2025, with deliveries starting December 19), the TANK 500 and TANK 400 relaunches with Coffee Pilot Ultra smart driving system, and the GWM SOUO S2000 cruiser motorcycle (launched October 2025). The WEY brand's Gaoshan 7 MPV achieved deliveries exceeding 10,000 units for three consecutive months after its launch on October 15, 2025.

GWM has invested in multiple powertrain technologies to support the transition to cleaner energy. The company offers pure electric, hybrid, plug-in hybrid, and hydrogen fuel cell vehicles across its brand portfolio. NEV sales reached 406,000 units in 2025, up 26.00 percent. The company's hydrogen fuel cell program is one of the more advanced among Chinese automakers.

GWM's R&D expenses were RMB 10.43 billion in FY2025, up 12.13 percent, supporting development of intelligent driving technologies (Coffee Pilot Plus and Coffee Pilot Ultra), smart cockpit systems (Coffee OS 3), and hybrid powertrain technologies (Hi4). The company operates R&D centers in China, Japan, Germany, the United States, and India.

The company states that it aims to serve a triple bottom line of financial performance, social impact, and environmental responsibility. GWM's "ONE GWM" strategy emphasizes providing technological mobility solutions tailored to users in different markets, regions, and energy contexts.

GWM and its brands have received recognition in the automotive industry:

• Haval brand ranked among China's top-selling SUV brands for multiple years
• TANK brand ranked first in China's off-road SUV market
• GWM Pickup ranked first in China's pickup truck market for 28 consecutive years
• GWM SOUO achieved over 25 percent market share in the premium large-displacement heavyweight motorcycle segment within its launch year
• WEY brand achieved six-year sales high in 2025 with 79.36 percent growth

GWM has faced several challenges and controversies:

The company closed its European headquarters in Munich in August 2024 due to low sales volumes. European sales were only 6,300 vehicles in 2023, reflecting the challenges Chinese automakers face in penetrating developed markets with established brand preferences and regulatory requirements. The EU's imposition of tariffs on Chinese electric vehicles has further complicated GWM's European expansion plans.

GWM's net profit declined 22.07 percent in FY2025 despite revenue growth, driven by a 43.93 percent increase in selling expenses. The company invested heavily in direct-to-consumer channels, new model launches, and brand building, which raised questions about the sustainability of its marketing spend and the effectiveness of its channel transformation.

The ORA brand faced significant headwinds, with annual sales falling 23.68 percent to 48,312 units in 2025. The brand underwent a strategic transformation from a dedicated pure-electric brand to one encompassing comprehensive powertrains, raising questions about its positioning in the rapidly growing Chinese NEV market. GWM's overall NEV penetration of 30.5 percent in 2025 lagged the broader Chinese market penetration of 47.94 percent.

Intense competition in the Chinese automotive market has put pressure on all manufacturers. BYD, Geely, Chery, and Changan have aggressively expanded their NEV offerings, creating competitive pressure on GWM's traditional strength in ICE-powered SUVs and pickup trucks. The company's 2026 target of 1.8 million vehicle sales (a 36 percent increase) and 50 percent NEV penetration represents an ambitious acceleration.

GWM operates in multiple international markets with varying regulatory environments. The company faces trade barriers, including EU tariffs on Chinese EVs, and must comply with different safety, emissions, and homologation standards across its export markets. Manufacturing operations in Russia have drawn scrutiny given geopolitical tensions.