Investment Summary
H1 Results Were Outstanding, with Profit up by 205% Y-o-Y
According to the results report, in the first half of 2021, GWM reported operating revenue of
RMB62.16 billion, up by 73.0% Y-o-Y. The net profit attributable to the parent company was
RMB3,498 million, up by 205.2% Y-o-Y. The net profit attributable to the parent company
excluding non-recurring items was RMB2.83 billion, up by 252.8% Y-o-Y.
On a closer look at the quarters, in Q1 and Q2, the Company recorded operating revenue of
RMB31.12 billion and RMB31,042 million, up by 150.62% and 32.02% Y-o-Y, respectively.
The net profit attributable to the parent company was RMB1,639 million and RMB1,859
million, up by 352.2% and 3.51% Y-o-Y, respectively. The net profit attributable to the parent
company excluding non-recurring items was RMB1,335 million and RMB1,496 million, up by
278% and down by 3.6% Y-o-Y, respectively. The main reason for the results growth was the
increase in the overall model sales volume and the upgrade of product mix, which led to the
improvement in profitability.