Great Wall Motor H1 2026 Net Profit Plummets; Wei Jianjun Prioritizes Healthy Growth

Great Wall Motor released its unaudited profit forecast for the first half of 2026 on July 14, estimating net profit attributable to equity holders of the parent company for the period from January to June 2026 to be between RMB 2.35 billion and RMB 2.6 billion, representing a year-on-year decline of 58.97% to 62.92%. In response, Chairman Wei Jianjun attributed the profit drop primarily to two factors: first, the delayed recognition of subsidies related to overseas tax policies; and second, increased foreign exchange losses due to currency fluctuations. According to the announcement, although vehicle sales volume and revenue rose year-over-year during the reporting period—bolstered by strong overseas operations and higher-value domestic models that have enhanced the company’s global brand positioning—the company recognized RMB 2.274 billion in overseas tax-related subsidies in the same period last year, whereas such income has not yet been recognized in the current period. Additionally, after offsetting gains from foreign exchange hedging instruments, the company incurred an unaudited net foreign exchange loss of approximately RMB 266 million this period, compared to a foreign exchange gain of RMB 14.93 billion in the same period last year—a year-on-year reduction of about RMB 17.59 billion. Wei Jianjun emphasized that the company prioritizes sustainable and healthy business development over superficial financial figures. Domestically, Great Wall Motor is implementing a channel strategy of “selling more while delivering less,” resulting in an inventory-to-sales ratio better than the industry average, thereby ensuring stable operations for both the company and its dealers. He noted that achieving the current results amid a complex and fiercely competitive market environment has been no easy feat, and expressed gratitude to consumers both at home and abroad for their support. Great Wall Motor will continue adhering to transparent data reporting and sound operational quality, uphold a long-term orientation, and proceed with its planned H-share repurchase program as scheduled.