--- title: "2025 Great Wall Motor First Half Review, Product Technology Summary" type: "Topics" locale: "en" url: "https://longbridge.com/en/topics/32016898.md" description: "Produced by Zhineng Auto Great Wall Motor's semi-annual report released in July 2025 showed slight growth in revenue and sales, but net profit was under pressure, especially after deducting non-recurring gains and losses, which fell by more than 30% year-on-year. Objectively speaking, under the industry conditions of 2025, Great Wall Motor's performance was stable, but it also faced structural pressures in the process of electrification transformation, brand strategy adjustment, and technological investment. Great Wall Motor achieved breakthroughs in certain markets through multi-brand operations and intelligent upgrades, but the pace of new energy products and the acceptance of the technology platform system..." datetime: "2025-07-21T01:05:32.000Z" locales: - [en](https://longbridge.com/en/topics/32016898.md) - [zh-CN](https://longbridge.com/zh-CN/topics/32016898.md) - [zh-HK](https://longbridge.com/zh-HK/topics/32016898.md) author: "[芝能-烟烟](https://longbridge.com/en/profiles/11273666.md)" --- # 2025 Great Wall Motor First Half Review, Product Technology Summary ​​ Produced by Zhineng Auto The semi-annual report released by Great Wall Motors in July 2025 showed slight growth in revenue and sales, but net profit was under pressure, especially after deducting non-recurring gains and losses, which fell by more than 30% year-on-year. Objectively speaking, in the industry environment of 2025, Great Wall Motors' performance is stable, but it also faces structural pressure in the process of electrification transformation, brand strategy adjustment, and technology investment.   Great Wall Motors achieved breakthroughs in local markets through multi-brand operations and intelligent upgrades, but the pace of new energy products and the acceptance of the technology platform system are key challenges. Overall, it is currently in the critical period of "switching between new and old dynamics," and short-term profit pressure is inevitable. The real test lies in whether it can establish sustainable competitive advantages at the product technology level.     ![图片](https://imageproxy.pbkrs.com/https://wx1.sinaimg.cn/mw1024/64f0c940ly4i3k6isxwjaj201q00w0ni.jpg) **Part 1** **Sales Slightly Increase, Profit Under Pressure:** **The Pain Period of Multi-Brand Synergy Strategy**   From the 2025 semi-annual financial report: ◎ Great Wall Motors' revenue reached 92.367 billion yuan, a year-on-year increase of 1.03%. ◎ Sales were 569,700 units, a slight year-on-year increase of 1.81%.   ◎ However, while revenue growth slowed, the company's net profit attributable to the parent company was 6.337 billion yuan, a year-on-year decrease of 10.22%; ◎ After deducting non-recurring items, net profit fell to 3.582 billion yuan, a year-on-year decrease of 36.38%, and Great Wall is currently facing the business situation of "selling more but earning less." The main factor causing profit pressure is the sharp increase in investment brought about by multi-line operations. In the first half of 2025, Great Wall Motors' cumulative sales were 569,800 units, a year-on-year increase of 1.81%. Among them, cumulative sales of new energy vehicles were 160,400 units, and cumulative sales in overseas markets were 197,700 units. In terms of sub-brands   ◎ Haval remains the core sales pillar of Great Wall Motors, with cumulative sales of 321,400 units in the first half of the year, a year-on-year increase of 7.24%;   ◎ Wei brand's cumulative sales in the first half of the year were 34,500 units, benefiting from the launch of the new Blue Mountain model, its sales increased by 73.62% year-on-year, making it the brand with the highest year-on-year increase under Great Wall Motors. From the brand dimension, Haval, Wei brand, Ora, Tank, and Great Wall Pickup share resources, and each is in its own product cycle replacement, requiring substantial marketing, channel, and technology investment to support the launch of new models. For example, after the launch of the Blue Mountain model, Wei brand's sales increased by 73.62% year-on-year, but behind it is high promotional investment and supply chain construction costs. We can review the domestic terminal data: ◎ First, let's look at Haval. The veteran H6 had cumulative sales of nearly 69,000 units in the first half of the year, still a mainstay in the Haval lineup. The Dragon performed well, breaking through 8,500 units in June alone, with a cumulative total of over 33,000 units, becoming the fastest-growing star in the Haval family. Another "newcomer," the Xiaolong MAX, has been ramping up since March, delivering 4,194 units in June, with a cumulative total of nearly 13,000 units, showing initial success in the transition to new energy. In contrast, former small hits like the M6, Shen Shou, and Chi Tu models are gradually fading from the main lineup. ◎ In terms of Wei brand, the Gaoshan model is strong. June sales exceeded 5,400 units, nearly ten times the beginning of the year, becoming a new dark horse in the plug-in hybrid MPV market. The Blue Mountain model remains stable, with monthly sales maintaining around 4,000 units. ◎ The Ora brand is overall running at a low level, with the Good Cat model accumulating less than 10,200 units in the first half of the year, while the Lightning Cat and Ballet Cat models are more niche, with the latter selling only 29 units in June, making product adjustments a priority. ◎ Finally, let's look at the tough Tank brand. The Tank 300 firmly holds the sales champion position, with cumulative sales exceeding 41,000 units in the first half of the year, and reaching 9,613 units in June, showing strong product resilience. The Tank 400 and 500 models perform steadily, maintaining monthly sales of over 3,000 units.   Great Wall Motors is also attempting to transition to a direct-to-user model, strengthening channel control, but in the short term, the construction of such new retail systems also means high capital expenditure and operational integration costs. To enhance user reach experience, some stores are piloting Coffee OS 3.0 smart cockpit interaction experience areas, increasing software and hardware iteration investment, raising the cost baseline. In terms of gross profit margin, although the main brand Haval's sales increased by 7.24% year-on-year, it is concentrated in the market below 120,000 yuan, and the price war in the industry limits the gross profit space. The Haval Big Dog 2026 model released in the first half of the year uses a limited-time rights price strategy to capture the market, further compressing profit margin space. Although the 1.5T/2.0T powertrain is mature and reliable, the technology platform lacks breakthrough innovation, making it difficult to support high premiums.   Great Wall's asset-liability structure is generally stable, with total assets of 222.448 billion yuan, total liabilities of 138.001 billion yuan, and an asset-liability ratio of about 62%. The financing structure and asset operation are still controllable, with certain ability to cope with stage financial fluctuations. Currently, Great Wall Motors forms a scissors gap between sales structure and revenue capacity. Although the multi-brand architecture is strategically beneficial for market segmentation and product positioning, it exacerbates resource dispersion and investment overlap issues in the short term.   In the transition phase of the new product cycle, a stable profit return mechanism has not yet been formed, which is one of the core reasons for the decline in net profit.   ![图片](https://imageproxy.pbkrs.com/https://wx1.sinaimg.cn/mw1024/64f0c940ly4i3k6it7k46j201d00u0m3.jpg) **Part 2** **Intelligent and Electrification Dual-Line Advancement:** **Technical Layout Still Needs Deepening** ● From the model level, Great Wall launched a series of new models in 2025, including the second-generation Haval Xiaolong MAX, the new Ora Good Cat, the Tank 300 Hook Edition, and the Tank 700 Hi4-T, among which the most noteworthy is its technological progress in smart cockpits and hybrid systems.   ● In the field of smart cockpits, the Haval Big Dog 2026 model is equipped with a 14.6-inch central control screen and built-in Coffee OS 3 smart cockpit system. This system supports multi-modal voice recognition, car-machine mobile phone interconnection, remote control, and other functions, further enhancing the user's interaction experience in the car.   ● From the software architecture perspective, Coffee OS 3 is led by Great Wall's subsidiary Halmot Intelligent, and has evolved towards SOA service, making function scheduling more flexible and upgrade cycles shorter.   However, compared to the closed-loop experience of leading brands like XPeng's XNGP platform and Huawei's Harmony cockpit system, Coffee OS is still mainly "basically usable," with weak ecological integration, and there is room for improvement in AI voice interaction delay control and multi-device collaboration. Although Great Wall has a complete set of Hi4 technology lines, it has not yet established a stable product line in the A-level and below markets, resulting in the overall performance of new energy models not yet establishing a flywheel effect in sales. ● In terms of pure electric products, the Ora brand, as the main force of new energy, has seen growth stagnation due to the lack of new platform models. The current main sales model, Ora Good Cat, is still built on the old platform, with a front-mounted permanent magnet motor, a maximum power of 105kW, and a lithium iron phosphate battery, with moderate endurance performance, lacking core highlights in intelligent driving and three-electric efficiency. Great Wall started the research and development of a new energy exclusive platform in 2023, including the SEV platform (small electric vehicles) and the L.E.M.O.N pure electric platform, but as of the first half of 2025, it has not been widely productized. This means that its advancement speed on the "second curve" of electrification is difficult to support the medium- and long-term sales ramp-up. Great Wall Motors has made breakthroughs in both intelligent and electrification dual-line technology paths, but currently, it is still mainly focused on local optimization and has not formed a systematic technology closed loop. The smart cockpit still needs time in terms of interaction experience and ecological integration, the hybrid platform has not achieved coverage in the mid-to-low-end market, and the electric platform update pace is lagging, resulting in the new energy business not yet becoming a new growth pillar.   **Summary** From the 2025 semi-annual financial report, Great Wall Motors is in the transition period of technology system reconstruction and brand structure adjustment, facing pressure from sales structure shift and new energy penetration. Through a multi-brand strategy, it maintains overall sales stability; however, the profit space is constrained by high-intensity investment and the need for technology platforms to be accepted, which is a meticulous effort. Coffee OS and Hi4 architecture technology still need time to be recognized by consumers.​​​​ ### Related Stocks - [82333.HK](https://longbridge.com/en/quote/82333.HK.md) - [601633.CN](https://longbridge.com/en/quote/601633.CN.md) - [02333.HK](https://longbridge.com/en/quote/02333.HK.md)