Great Wall Motor (GWM), China’s leading sport utility vehicle (SUV) and pickup manufacturer, said Tuesday that its first half-year net profit more than tripled due to vehicle sales growth and increased profit margins.
In a filing with the Shanghai Stock Exchange, the company said net profit attributable to its shareholders surged 205.19 percent year on year to nearly 3.5 billion yuan (about 539 million U.S. dollars) in the January-June period.
Its revenue in the six months jumped 73 percent year on year to nearly 62.16 billion yuan.
The carmaker said earlier this month that it sold 618,211 auto vehicles in the first half-year, a year-on-year increase of 56.47 percent.
Headquartered in Baoding, north China’s Hebei Province, Great Wall Motor owns several vehicle brands, including HAVAL, GWM Pickup, WEY, and ORA.