Great Wall Motors warns of 58.6pc profit drop

Business | 19 Jul 2019 6:27 pm

Great Wall Motors (2333) released a profit warning saying net profit for the first half will plunge by 58.6 percent to 1.53 billion yuan (HK$1.74 billion).

The company said it has increased its product incentives and expanded investment in research and development, resulting in a drop in net profit.

Revenue is expected to fall  by 15 percent to 41.38 billion yuan.

Great Wall Motors has adjusted its sales target for 2019 to 1.07 million units.

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