Great Wall Motor Q1 2026 Revenue Rises, Net Profit Plummets

Great Wall Motor reported RMB 45.109 billion in operating revenue for the first quarter of 2026, an increase of 12.72% year-over-year. Net profit attributable to shareholders of the listed company amounted to RMB 9.46 billion, down 46.01% year-over-year. Net profit after deducting non-recurring gains and losses stood at RMB 4.82 billion, a decline of 67.19% year-over-year. Both basic and diluted earnings per share were RMB 0.11 per share, down 47.62% year-over-year. The weighted average return on net assets was 1.07%, a decrease of 1.10 percentage points compared to the same period last year. Net cash flow from operating activities reached RMB 32.71 billion, compared to -RMB 89.80 billion in the same period last year. Research and development expenses totaled RMB 22.42 billion, up 17.59% year-over-year. The year-over-year decline in net profit was primarily due to significant foreign exchange gains from currency fluctuations in the same period last year, which did not recur this period. During the reporting period, the company’s sales volume and operating revenue increased year-over-year, with a higher proportion of overseas sales driving up both average revenue per vehicle and gross margin. The substantial improvement in operating cash flow was mainly attributable to increased cash receipts from higher overseas sales volumes.