Great Wall Motors income falls to 4.4b yuan

Business | 21 Feb 2020 6:25 pm

Great Wall Motors (2333) said net profit dropped by 13.73 percent from a year ago to 4.49 billion yuan (HK$4.97 billion) due to higher research and development expenses.

The basic earnings per share were 49 fen.

Revenue slid by 2.8 percent to 96.46 billion yuan.

The decrease in net profit was mainly due to the continued improvement in brand building and introduction of services such as long-term warranty to promote brand image and brand loyalty, the increase in the investment in research and development and the decline in non-operational interest income, said the automaker.

Shares in the company slid by 0.5 percent to HK$5.92.

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