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Great Wall shines in 2011
By Jin Jing |
March 22, 2012, Thursday
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Print Edition
Print Edition
GREAT Wall Motor Co reported its net profit for 2011 gained an annualized 26.8 percent on stronger demand for its new models and surging exports.
Net income of Great Wall rose to 3.4 billion yuan (US$536 million) last year, compared with 2.7 billion yuan in 2010, according to its statement to the Hong Kong stock exchange. Sales increased by 31 percent to 30 billion yuan in 2011.
Great Wall, the nation's largest sport utility vehicle producer, said its growth managed to outpace the industry average thanks to the launch of new products and increased sales in overseas markets.
The Baoding, Hebei Province-based company achieved total auto sales of 462,679 units in 2011, up 27 percent from 2010, after it launched new Hover H6 SUV and Voleex C50 sedans.
Its exports volume surged 58.7 percent last year, totalling 79,277 units. It main export destinations were the Middle East, Africa and the Asia-Pacific region.
In order to sustain the growth, Great Wall said it will increase investment in more fuel-efficient models and technologies. It will continue to launch more products such as Hover M4 to woo consumers.
Net income of Great Wall rose to 3.4 billion yuan (US$536 million) last year, compared with 2.7 billion yuan in 2010, according to its statement to the Hong Kong stock exchange. Sales increased by 31 percent to 30 billion yuan in 2011.
Great Wall, the nation's largest sport utility vehicle producer, said its growth managed to outpace the industry average thanks to the launch of new products and increased sales in overseas markets.
The Baoding, Hebei Province-based company achieved total auto sales of 462,679 units in 2011, up 27 percent from 2010, after it launched new Hover H6 SUV and Voleex C50 sedans.
Its exports volume surged 58.7 percent last year, totalling 79,277 units. It main export destinations were the Middle East, Africa and the Asia-Pacific region.
In order to sustain the growth, Great Wall said it will increase investment in more fuel-efficient models and technologies. It will continue to launch more products such as Hover M4 to woo consumers.
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