Great Wall Motor Company Limited’s Net Profit Dropped 89.2% in First Quarter of 2023

Great Wall Motor Company Limited (长城汽车股份有限公司) (601633.SH) reported a net profit of 175.6 million yuan in the first quarter of 2023, down 89.2% year-on-year.

Meanwhile, the company posted 29 billion yuan in revenue, down 13.6% year-on-year.

At the end of the reporting period, it had 178.1 billion yuan in total assets and 114.8 billion yuan in total liabilities, with a liability-to-asset ratio of 64.4%.