Summary by Moomoo AI
GREAT WALL AUTOMOBILE CO., LTD. (GWMOTOR) RELEASED ITS 2023 ANNUAL RESULTS REPORT ON JANUARY 23, 2024, SHOWING THAT THE COMPANY'S TOTAL ANNUAL OPERATING REVENUE REACHED RMB1,734.1 BILLION, AN INCREASE OF 26.26% COMPARED TO 2022. However, operating profit, total profit and net profit declined 10.34%, 11.89% and 15.06%, respectively, and net profit attributable to the Company's shareholders also decreased by 15.22% to $708 billion. Despite this, net profit excluding non-recurring losses increased by 4.58% compared to the same period last year. The company said that the decline in results was mainly driven by exchange rate gains and a decrease in the net profit ratio in the fourth quarter due to the year-end bonus calculation. During the report, Great Wall Automotive continued to drive new energy, smart transformation, and increased...Show More