Great Wall Motor 2018 net profit growth of 3.58%, Wei Jianjun said "car market growth space is great."

On 25 March, Great Wall Motor (H Share Code: 2333, A Share Code: 601633) officially held the 2018 Annual Results Press Conference in Hong Kong. Chairman Wei Jianjun of Great Wall Motor attended the press conference and explained Great Wall Motor's 2018 Annual Results and future development plan. According to the results report, in 2018, Great Wall Motor achieved a total revenue of 99.23 billion yuan, down 1.92% year-on-year; Operating profit reached 6.232 billion yuan, up 6.45% year-on-year; The net profit attributable to the shareholders of the listed company was 5.207 billion yuan, up 3.58% year-on-year. After slashing profits in 2017, Great Wall Motor Co. Is on a steady rise in 2018. In 2018, Great Wall Motor continued to optimize its product mix, increase its brand promotion efforts and enhance its brand influence, resulting in a slight decrease in gross profit margin compared with the same period of last year due to the increase in preferential quota for products to benefit consumers. However, Great Wall Motor carries out fine management of R&D projects, capitalizes part of the R&D investment, and increases the interest income of the Group's funds, which promotes the year-on-year growth of net profit in 2018. Changing Against the Trend As we all know, China's auto market ended years of growth in 2018 with its first year-on-year decline in production and sales in 28 years. Faced with the tough auto market environment, Great Wall Motor Chairman Wei Jianjun said: "In 2018, the main economic indicators of the auto industry fell back. On the one hand, due to the full withdrawal of preferential tax policies for small-displacement vehicles; on the other hand, due to the macroeconomic growth slowdown, Sino-US trade friction, and consumption Which is caused by weak confidence and other factors. Domestic automobile industry is still in the popularization period, there is more room for growth. The automotive industry has entered the stage of brand upward and high-quality development. " In this development environment, Great Wall Motor completed the independent operation of its Harvard, WEY, Oula and Great Wall pickup trucks in 2018, realizing the systematic change of category brands, and the most direct manifestation of such change is the composition of its sales volume. In 2018, Great Wall Motor sold 1.053 million vehicles, including 766,100 under the Harvard brand, 139,500 under the WEY brand, 138,000 under the pickup truck brand and 3,515 under the Oula brand. In addition to the Harvard brand, the WEY, pickup truck and Euler brands have all been strong supporters of Great Wall's overall sales and have enabled the company to consistently exceed the million-dollar mark for the third consecutive year. In 2019, Great Wall Motor set a sales target of 1.2 million vehicles. Future planning for the future, Great Wall Motor has established a clean, intelligent and networked development direction for the goal. In the new energy vehicles, Great Wall Motor has synchronously carried out EV, HEV, PHEV three technical architecture model development and FCV planning. Currently, the company has released the plug-in hybrid model WEY P8 based on the Pi4 platform and the Euler iQ and Euler R1 based on the pure electric proprietary ME platform. In the future, the company will also introduce hybrid, hydrogen fuel cell models for new energy vehicles. In terms of intelligence, Great Wall Motor has been carrying out AD since 2010 Research on AS Technology. In 2017, Great Wall Motor released the i-Pilot "Smart Pilot" plan. Currently, the Company conducts product development in accordance with Level 4 and Level 5 standards of the United States, and Level 4 projects have reached the performance commissioning stage. It is planned that by 2020, mass-production vehicles will exceed the L3 level of self-driving; By 2025, fully automated driving at the L5 level will be achieved. In the aspect of networking, Great Wall Motor has established strategic cooperation with Internet giants at home and abroad, and has signed strategic cooperation agreements with Baidu, Huawei, JD.com and China Mobile to fully cooperate in vehicle networking technology and content, create exclusive vehicle networking services, and jointly build future automotive ecology. In 2018, Great Wall Motor, China Mobile and Huawei jointly developed 5G-based autonomous remote driving technology that passed tests at Great Wall Motor's Xushui test site. In November 2018, the Great Wall Motor "National Intelligent Vehicle and Intelligent Transportation Demonstration Zone (Beijing-Hebei)" was opened for operation, in which the closed test zone has the first high-speed roundabout covering LTE-V2X in the country and is also the first closed test zone covering urban road scenes with 5G network in China. Layout 2019, for Great Wall Motor, is the "first year of globalization." At present, Great Wall Motor has formed a global distribution of research, production and marketing, and strengthened foreign cooperation. In the field of R&D, Great Wall Motor has set up a global independent R&D team. It is understood that Great Wall Motor in Japan, the United States, Germany, India, Austria and South Korea has set up overseas research and development centers to build Baoding headquarters as the core, covering Europe and Europe. Globalization of R&D in Europe, Asia and North America. In the future, Great Wall Motor will invest 30 billion yuan to build a global R & D system and form a leading edge in active and passive safety technology, intelligent interconnection, self-driving and other aspects. When the factory is set up, the Russian Tula regional factory invested by Great Wall Motor will be officially put into operation soon. This is the first modernized manufacturing plant with four major processes that Chinese auto companies have built overseas. When the factory is completed and put into operation, it will not only promote the local sales scale, but also radiate to the Eastern European market. In addition, after Baoding, Xushui, Tianjin, Great Wall Motor Chongqing Yongchuan production base project will also be completed and put into operation by the end of this year. In terms of sales, Great Wall Motor actively launched a global layout, the current Russian, South African, Australian sales companies have basically completed brand switching. It is also worth mentioning that in July 2018, Great Wall Motor and BMW Holdings (Netherlands) signed a joint venture and cooperation agreement, in which the two sides each held a 50% stake to establish Light Beam Automotive Co., Ltd. To jointly develop a new generation of pure electric vehicle platform. It is reported that the platform in addition to the production of BMW MINI electric vehicles, but also the production of its own brand electric vehicles. Looking ahead, Wei Jianjun said, "Facing the era of 5G, big data, artificial intelligence and interconnection of all things, Great Wall Motor will maintain innovation awareness, accelerate the pace of internationalization, and prepare the company for global enjoyment through system, mechanism, mode and cultural innovation, so as to create the most valuable and world-class international brand."