---
title: "Great Wall Motor's revenue in 2024 exceeds 200 billion yuan, with a year-on-year net profit increase of 80.8% and overseas sales growth of 44.6% | Financial Report Insights"
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/233631258.md"
description: "Great Wall Motor's total vehicle sales for the year reached 1.2345 million units, of which new energy vehicle sales increased by 25.65% to 322,200 units, and overseas sales grew by 44.61% to 454,100 units, accounting for 36.8% of total sales, with cumulative overseas sales exceeding 1.8 million units. The company plans to distribute a cash dividend of 0.45 yuan per share to all shareholders"
datetime: "2025-03-28T12:14:48.000Z"
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  - [zh-HK](https://longbridge.com/zh-HK/news/233631258.md)
---

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# Great Wall Motor's revenue in 2024 exceeds 200 billion yuan, with a year-on-year net profit increase of 80.8% and overseas sales growth of 44.6% | Financial Report Insights

In the fiercely competitive automotive market, Great Wall Motor delivered an impressive performance in 2024, with both revenue and profit experiencing significant growth, showcasing a strong recovery momentum. Additionally, Great Wall Motor seems to have found a new growth engine, with overseas sales reaching 454,100 units last year, setting a new historical high.

On Friday, Great Wall Motor's 2024 annual report was released, with the following key points:

> **Revenue Situation:** In 2024, revenue surpassed the 200 billion yuan mark, reaching 202.2 billion yuan, a year-on-year increase of 16.73%.
> 
> **Profitability:** The annual net profit was 12.692 billion yuan, a year-on-year surge of 80.76%, with a net profit excluding non-recurring items of 9.735 billion yuan, a year-on-year increase of 101.4%.
> 
> **Core Business Progress:** Annual vehicle sales reached 1.2345 million units, of which new energy vehicle sales grew by 25.65% to 322,200 units, and overseas sales increased by 44.61% to 454,100 units, accounting for 36.8% of total sales, with cumulative overseas sales exceeding 1.8 million units.
> 
> **Cash Flow:** Operating cash flow was 27.783 billion yuan, a year-on-year increase of 56.49%, with a gross profit margin of 19.51%, up 1.36 percentage points year-on-year.
> 
> **Shareholder Returns:** A cash dividend of 0.45 yuan per share is proposed for all shareholders.
> 
> 
## Increased Proportion of High-Priced Models and Overseas Premium... Driving Net Profit Surge of 80.8%

The financial report shows that Great Wall Motor's revenue reached 202.2 billion yuan in 2024, a year-on-year increase of 16.73%, indicating an improved market acceptance of Great Wall Motor's products. More notably, net profit soared to 12.692 billion yuan, a year-on-year increase of 80.76%. Behind this high profit growth are three main supports:

**Structural Optimization Drives Gross Profit Improvement:** The proportion of high-priced models has increased, with Tank brand sales reaching 232,200 units (+42.57%), and the average price of Wey brand exceeding 250,000 yuan; significant overseas premium, with an overseas business gross profit margin of 18.76%, and revenue proportion increasing to 39.7% (+5.9 percentage points); effective cost control, with raw material cost proportion decreasing by 1.24 percentage points, and accounts payable cycle extended to 193 days;

**Scale Effect Release:** The capacity utilization rate of the Russian factory reached 165.61%, Jingmen base at 159.4%, and fixed asset turnover rate increased by 0.38 times year-on-year; R&D expense ratio decreased from 4.65% to 5.17%, but the absolute amount increased by 1.23 billion yuan, with technological accumulation entering a harvest period;

**Exchange Rate Gains Contribution:** Foreign currency assets generated exchange rate gains of 912 million yuan (compared to a loss of 126 million yuan last year), hedging against exchange rate risks in overseas markets.

## New Energy Vehicle Sales Increased by 25.6% Year-on-Year, Overseas Sales Increased by 44.6%, Setting New Historical Highs

In the field of new energy, Great Wall Motor continues to maintain a high growth trend. The annual sales of new energy vehicles reached 322,200 units, a year-on-year increase of 25.65%, with the penetration rate of new energy in domestic passenger cars reaching 43.99%. Great Wall Motor's layout in the new energy sector has begun to show results, with the company launching the new generation intelligent driving system Coffee Pilot Ultra and the new generation smart space system Coffee OS 3.

At the same time, Great Wall Motor's globalization strategy has achieved significant results. In 2024, overseas sales reached 454,100 units, setting a new historical high, with a year-on-year increase of 44.61%. Cumulative overseas sales have exceeded 1.8 million units.

### 相關股票

- [Great Wall Motor (601633.CN)](https://longbridge.com/zh-HK/quote/601633.CN.md)
- [GWMOTOR (02333.HK)](https://longbridge.com/zh-HK/quote/02333.HK.md)

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