Great Wall Motor (HKG:2333) Full Year 2024 Results

Key Financial Results

• Revenue: CN¥202.2b (up 17% from FY 2023).
• Net income: CN¥12.7b (up 81% from FY 2023).
• Profit margin: 6.3% (up from 4.1% in FY 2023).
• EPS: CN¥1.49 (up from CN¥0.82 in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Great Wall Motor Meets Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) was also in line with analyst expectations.

The primary driver behind last 12 months revenue was the China segment contributing a total revenue of CN¥121.0b (60% of total revenue). Notably, cost of sales worth CN¥163.3b amounted to 81% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Research & Development (R&D) costs, amounting to CN¥9.28b (33% of total expenses). Over the last 12 months, the company's earnings were enhanced by non-operating gains of CN¥1.98b. Explore how 2333's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Auto industry in Hong Kong.

Performance of the Hong Kong Auto industry.

The company's shares are down 8.2% from a week ago.

Risk Analysis

Before you take the next step you should know about the 2 warning signs for Great Wall Motor that we have uncovered.

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