Great Wall Motors' revenue last year reached a record high of 222.8 billion yuan, with net profit dropping nearly 20 billion yuan.

Great Wall Motors warns that its overseas expansion faces uncertainties due to geopolitical conflicts.

On March 27, Great Wall Motors Co., Ltd. (Great Wall Motors, 601633) announced that it expects to achieve an operating revenue of 222.824 billion yuan in 2025, a year-on-year increase of 10.2%, setting a historical high; the net profit attributable to shareholders of the listed company is 9.865 billion yuan, a year-on-year decrease of 22.07%; basic earnings per share is 1.16 yuan; the company plans to distribute a cash dividend of 3.5 yuan (including tax) for every 10 shares.

In its performance flash report, Great Wall mentioned that during the reporting period, the company achieved year-on-year growth in both sales volume and operating revenue while accelerating the establishment of new direct-channel models to connect with users, as well as increasing promotion for new models and technologies, which led to a decline in net profit.

In terms of sales volume, Great Wall Motors achieved new car sales of 1.3238 million units in 2025, a year-on-year increase of 7.23%. Among them, overseas sales reached 506,800 new cars, a year-on-year increase of 11.6%; global sales of new energy vehicles reached 406,000 units, a year-on-year increase of 26%. The gross profit margin for the automotive business is 17.81%, a decrease of 1.61 percentage points year-on-year.

The overseas market has long been an important source of revenue for Great Wall Motors. Regarding the overseas expansion process, the financial report states that in 2025, Great Wall Motors’ overseas sales network will cover over 170 countries and regions, with more than 1,500 channels, a cumulative global user base exceeding 16 million, and cumulative overseas sales surpassing 2 million units, with overseas sales reaching 506,800 units in 2025, a year-on-year increase of 11.60%. The full-process plant in Brazil is set to be completed and put into operation in August 2025, becoming a core hub for the Latin American market, achieving localized production and technology adaptation.

However, Great Wall Motors stated that in the overseas market, increasing international geopolitical conflicts and trade barriers have brought uncertainties. In response to these risks, the company will deepen its “ONEGWM” global strategic layout, focusing on “regional deep cultivation + localized operation,” expanding into emerging markets, and reducing dependence on a single market; promoting localized production and supply chain support in overseas factories to avoid geopolitical risks and the deepening risks of trade barriers.

As of the close on the 27th, Great Wall Motors rose 0.72%, closing at 20.88 yuan per share.

The Paper reporter Wu Yuli