Great Wall Motor's net profit quadrupled in the first half of this year

The 2010 interim results report released by Great Wall Motor (2333.HK) shows that in the first half of this year, the company achieved operating income of 9.125 billion yuan, an increase of 77% over the same period of last year; net profit increased from 279 million yuan to 907 million yuan in the same period of last year. The profit per share rose from 0.24 yuan in the same period of last year to 0.79 yuan, an increase of 230.9% year-on-year.

Due to the gradual improvement of the international economic situation, the company’s export situation has shown a momentum of reversal, and the number and amount of exports have increased significantly. Up to now, the company's Haffer exports have increased by 613.4% year-on-year, Tengyi sedan has grown by 339.2%, and pickup trucks have fallen by 8.3% year-on-year. Exports to 121 countries such as Australia, Russia, Italy, South Africa and Iraq have formed a solid marketing network.

In the future, the company will increase the research and development of core components and accelerate the development of engines and transmissions. At present, 2.0 liters of high-efficiency and energy-saving diesel engines with an output of 55 kilowatts or more have already entered trial production, and will be the first to be carried on the Haval H5 model in September.