Great Wall Motor Overseas Sales Surpass Domestic, Half-Year Revenue Grows Nearly 10 Billion, But Net Profit Falls Sharply

Author | Zhang Rui

Editor | Zhi Hao

Great Wall Motor's first-half revenue increased year-on-year by nearly 10 billion yuan, and net profit attributable to parent company decreased year-on-year by 3.872 billion yuan.

Chexidong on August 25 reported, just now, Great Wall Motor Co., Ltd. (hereinafter referred to as Great Wall Motor) released its 2026 half-year report.

In the first half of 2026, Great Wall Motor'srevenue was 102.101 billion yuan RMB, a year-on-yearincrease of 10.58%,net profit attributable to parent company was 2.465 billion yuan, a year-on-yeardecline of 61.11%.

▲ Great Wall Motor's 2026 First-Half Major Financial Data

In terms of sales volume, Great Wall Motor's new carsales volume was 575,800 units in the first half of 2026. Among them,domestic sales volume was 286,700 units,overseas sales volume was 289,000 units, based on the dataoverseas sales volume has surpassed domestic.

Overall, Great Wall Motor's financial performance in the first half of 2026 had both good and bad aspects, with opportunities and challenges coexisting. Currently, overseas sales volume has seen a significant growth, even surpassing domestic sales volume. Whether Great Wall Motor can make further progress in performance in the second half of the year will make the overseas market even more critical.

01.

Revenue of 102.101 billion yuan RMB

Net profit attributable to parent company declined 61.11% year-on-year

In the first half of 2026, Great Wall Motor'srevenue was 102.101 billion yuan RMB, an increase of 9.766 billion yuan compared to the same period last year,representing a year-on-year increase of 10.58%.

▲ Great Wall Motor's 2026 First-Half Major Financial Data

Regarding net profit attributable to parent company, Great Wall Motor's first-half of 2026net profit attributable to parent company was 2.465 billion yuan, a decrease of 3.872 billion yuan compared to 6.337 billion yuan in the first half of 2025,a year-on-year decline of 61.11%. Great Wall Motor explained that the year-on-year decline in net profit attributable to parent company was mainly due to the delayed recovery of overseas tax policy subsidy income, as well as exchange rate fluctuations.

Regarding gross margin, in the first half of 2026, Great Wall Motor'sgross margin was 18.37%, a year-on-year decrease of 0.01 percentage points from the same period last year's 18.38%.

In terms of sales volume, in the first half of 2026, Great Wall Motor achieved new carsales of 575,800 units, a year-on-yearincrease of 1.22%. Among them,domestic cumulative new car sales were 286,700 units, a year-on-yeardecrease of 22.53%,overseas cumulative new car sales were 289,000 units, a year-on-yearincrease of 45.46%. From the results, currently Great Wall Motor's overseas sales volume has surpassed domestic.

▲ Great Wall Motor 2026 First-Half Sales Volume

Breaking down by vehicle category, Great Wall Motor's pickup sales volume declined 3.71% year-on-year in the first half of 2026, SUV sales volume declined 1.12% year-on-year, and sedan and others (mainly new energy vehicles) sales volume increased 58.80% year-on-year.

02.

3 Full-Process Complete Vehicle Production Bases Established Overseas

Overseas Sales Channels Exceed 1600

In addition to releasing first-half financial data, Great Wall Motor also revealed the company's development situation in the report.

Currently, Great Wall Motor owns brands such as Haval, Tank, WEY, ORA, Great Wall Pickup, Great Wall Soul Motorcycle, Great Wall Commercial Vehicle, etc. Products mainly cover categories such as SUV, Sedan, Pickup, MPV, Motorcycle, Heavy Truck, etc. Power includes gasoline, diesel, hybrid, plug-in hybrid, pure electric, and hydrogen energy.

▲ Great Wall Motor 2026 First-Half Development Situation

Great Wall Motor stated that its global layout has been fully implemented. In terms of production, Great Wall Motor has established 3 full-process complete vehicle production bases in Thailand, Brazil, etc., and owns multiple KD factories in Ecuador, Malaysia, Pakistan, etc.

In terms of market expansion, Great Wall Motor products cover more than 170 countries and regions such as Europe, Australia, Africa, Central and South America, Southeast Asia, and the Middle East; in terms of channel construction, nearly 200 new stores were added. As of June 2026, overseas sales channels exceeded 1600.

Great Wall Motor also provided possible risks and challenges faced in the report. Internationally, international environment changes, increased trade barriers, etc., bring risks of international trade uncertainty, which may cause fluctuations in the automotive industry. In the domestic market, Great Wall Motor stated that the domestic automotive market is in stock competition, and homogenization competition is intensifying.

Facing the above risks and challenges, Great Wall Motor stated that it will mainly take the following measures to cope:

1. Deepen the "ONE GWM" global strategic layout, with "regional deep dive + localization operation" as the core, expand high momentum and emerging markets such as Europe, reduce dependence on a single market; promote localization production and supply chain support of overseas factories, avoid geopolitical risks and the risks of deepening trade barriers; create big single products suitable for diverse needs of global users, achieve "one car multiple power" global product model.

2. Continue technology and category innovation, optimize product matrix. With Guiyuan Platform, Hi4 Hybrid, Coffee Intelligent Driving Technology, achieve multi-power compatibility and AI empowerment, launch more competitive products to the market; relying on off-road, high-end, new energy MPV, box-like four major tracks, launch high value-added models; strengthen Tank brand off-road ecosystem barriers, consolidate high-end market; WEY brand seeks high-end differentiated breakthrough by building "Guiyuan S Technology Platform + Full Industry Chain Ecosystem + Trust Mindset"; ORA achieves global growth with new models, low cost, high adaptability global vehicles.

3. Deeply cultivate core technology, brand service, product quality, carry out long-term value communication, resource tilt towards brand upward, user service, digital middle platform long-term construction, rely on brand, channel, user long-term assets to traverse industry cycles, achieve sustainable high-quality growth.

03.

Conclusion: Great Wall Motor Begins to Seek New Growth Points

Overall, Great Wall Motor's report card for the first half of 2026 was mixed.

In the first half of 2026, Great Wall Motor's revenue increased 10.58% year-on-year, sales volume increased 1.22% year-on-year, overseas sales volume increased 45.46% year-on-year, but Great Wall Motor's net profit attributable to parent company decreased 61.11% year-on-year.

And next, Great Wall Motor stated to reduce dependence on a single market, optimize product matrix, and launch more competitive products to the market. In the fierce competition in the auto market, what performance Great Wall Motor will bring next, we wait and see.