Great Wall Motor Reports 10% Revenue Growth in 2025 but 22% Profit Drop Amid Soaring Sales Expenses

On March 27, Great Wall Motor released its 2025 financial report: full-year revenue reached RMB 222.82 billion, up 10.2% year-over-year; however, net profit attributable to shareholders amounted to RMB 9.86 billion, a sharp decline of 22.07% compared to the previous year. The company explained that the drop in net profit was primarily due to a significant increase in sales expenses, which totaled RMB 11.27 billion for the year—a surge of 43.9% year-over-year—mainly allocated toward building its direct-sales channel network and promoting new models and technologies. Since 2024, Great Wall has accelerated the expansion of its direct-sales system, with a strategic focus on advancing its premium new energy brand, WEY. All five of its core brands—Haval, WEY, TANK, ORA, and Great Wall Pickup—have benefited from this strategy, aiming to strengthen brand influence and enhance market penetration of its new energy vehicles.