Great Wall Sees Net Profit Up Almost 27% in 2011 image

In 2011 Great Wall saw earnings of 3.43 billion yuan ($543.89m) in net profit, 26.86% higher than it was in 2010.

The company’s total business returns for the year totaled 30.09 billion yuan ($4.78b), which translates in year-on-year increase of 30.9%. The manufacturer’s combined assets were valued at 3.31 billion yuan ($5.26b) at the end of 2011, growing 39.82% from the previous year, 4.45 billion yuan ($706.46m) in cash flow being generated from its marketing promotions, an increase of 39.39% from 2010.

Last year Great Wall sold 463,000 units, 27.3% up compared to 2010, from which 187,500 sedans (up 52.6%), 147,300 SUVs (up 7.6%) and 121,700 pickup trucks (up 23.3%). Exports also saw an increase of 58.7%, totaling 79,000 units, from which 36,400 pickup trucks, 30,500 SUVs and 12,200 sedans.

Ministry of Industry and Information Technology Minister Miao Wei believes that the increasing variety of vehicles available in China and the maturing of domestic manufacturers have helped the country to gain its own place in the global automobile industry. “I believe the one million target will be exceeded within just one or two years,” he said.