Geely Automobile Holdings Ltd

00175: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	HK$55.00	Hwf	Mmfrgvtzf

Great Wall Earnings: Preliminary Results Indicate More Challenging Margin Pressure

Vincent Sun

Jan 24, 2024

No-moat Great Wall Motor, or GWM, reported a 15.2% year-over-year decline in its preliminary net profit for 2023 to CNY 7.0 billion, which was in line with our estimate of CNY 7.1 billion. Management attributed the earnings decline to an increase in sales expenses and accelerated investment in new energy vehicles, or NEVs.

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