GWM Reports Strong Earnings for 2022: Operating Revenue Reaches Record High of CNY 137.3 Billion
GWM, a leading automaker, has released its preliminary earnings estimate for the year 2022 and achieved a historic high in operating revenue. With 137.351 billion CNY in revenue, the company has surpassed 100 billion CNY for the fourth consecutive year. Meanwhile, the net income attributable to shareholders increased by 23.09% year-on-year, totaling 8.279 billion CNY.
Despite the challenging business environment in 2022, GWM was able to maintain its momentum with record-high revenue and overseas sales, significant profit growth, optimized product mix, and premium brand positioning. The company’s overseas sales reached a new high with 173,200 units sold, a 21.28% increase from the previous year. GWM’s global brand strategy “ONE GWM” will continue to drive its expansion in the international market.
GWM’s product mix and brand value also saw notable improvement in 2022. The average unit price was 128,700 CNY, a 20.8% year-on-year increase, and the sales ratio of vehicles priced above 200,000 CNY rose to 15.27%. The company’s intelligent vehicle penetration rate reached 86.17%.
GWM’s focus on technology R&D has led to a strong product mix. With a long-standing commitment to investing in R&D, the company aims to own its core technology and further solidify its “Technology GWM” brand image. In 2022, GWM made progress in new energy vehicles, including pure electric, hybrid, and hydrogen technologies, and launched over 10 new energy products, such as the HAVAL H6 PHEV and WEY Coffee 01. The company’s Coffee Intelligence assisted driving system saw over 200,000 units sold and accumulated over 25 million kilometers driven.
In 2023, GWM will continue to prioritize the needs of its customers and renew its offerings to better serve them. The company plans to launch over 10 new energy products and transform its marketing approach by focusing on superior resources and stronger coordination. GWM will deepen its “ONE GWM” brand strategy for comprehensive restructuring and maintain its commitment to technology for sustained product improvement. The company aims to achieve an annual sales target of 1.6 million units in 2023.