GWM 2025 Annual Report: Historic RM 146 Billion Revenue as Overseas Sales Near 40%

Great Wall Motor (GWM) — the parent company behind Malaysia's beloved ORA and TANK brands — has officially released its 2025 Annual Financial Report. In a year defined by brutal "price wars" and escalating global competition, GWM's latest scorecard demonstrates remarkable resilience.

Core Data: Record Revenue, Profits Squeezed by Price Wars

In 2025, GWM achieved an operating revenue of RMB 222.82 billion (approx. RM 146 billion), a 10.2% year-on-year (YoY) increase, setting a new historical record. However, against the backdrop of a global automotive price war, profit margins faced significant headwinds:

Net Profit Attributable to Shareholders: RMB 9.865 billion (approx. RM 6.46 billion), down 22.07% YoY.

Non-recurring Net Profit: RMB 6.059 billion (approx. RM 3.97 billion), down 37.50% YoY.

This "revenue growth without profit growth" phenomenon is primarily the result of GWM's aggressive strategic investment in 2025. Selling expenses surged to RMB 11.27 billion (approx. RM 7.38 billion) — a 43.93% increase — driven by an intensive cycle of new model launches and the acceleration of its retail channel transformation.

Brand Performance: High-Margin Heroes vs. Mainstream Struggles

WEY: Annual sales reached 102,000 units, a staggering 86.29% surge. The Gaoshan MPV has become a cornerstone of this growth, successfully penetrating the premium segment above RMB 300,000 (approx. RM 196k).

TANK: With 232,700 units sold annually, Tank remains the undisputed leader in the global hardcore off-road segment. In Malaysia, the TANK 300 remains a top choice for off-road enthusiasts.

HAVAL: Annual sales totaled 758,600 units, up 7.41%. While growing, it faces immense pressure from rivals like BYD, Geely, and Chery. 

ORA: Annual sales were 48,000 units, a YoY decline of 23.68%. The brand is currently navigating a "cool-off" period in the pure EV segment.

New Energy & Overseas Markets: The Second Growth Curve

GWM's performance in NEV and international markets remains a highlight.

New Energy Vehicles (NEVs): Annual sales reached 406,000 units, up 26%, far outperforming the overall market growth.

Overseas Markets: 2025 overseas revenue reached RMB 91.488 billion (approx. RM 59.9 billion), up 13.99%. Overseas sales exceeded 506,800 units, accounting for nearly 40% of total sales.

2026 Outlook: Aiming for "Volume and Profit" Growth

GWM expressed strong confidence for the future, announcing its 2026 performance guidance.

Target Sales: No less than 1.8 million units.

Target Net Profit: No less than RMB 10 billion (approx. RM 6.55 billion).

This implies GWM plans to achieve over 36% sales growth in 2026 and a decisive return to positive profit growth. With new model production capacity ramp-ups and global strategies — including CKD local assembly plans in Malaysia — taking full effect, GWM is poised to overcome short-term market volatility in favor of sustainable, high-quality growth.

While net profits dipped due to industry-wide "price wars", GWM's investments in premium branding (TANK, WEY) and globalization strategy have paid off. For the Malaysian market, the introduction of a more diverse model lineup suggests significant room for growth in both brand premium and market share.