RELEASE: GWM Annual Earnings Report 2022: R&D Investment RMB 12.18bn, Up 34%

BAODING, China, April 6, 2023 /PRNewswire/ -- On March 30, GWM released its 2022 annual report.

RELEASE: GWM Annual Earnings Report 2022: R&D Investment RMB 12.18bn, Up 34%

BAODING, China, April 6, 2023 /PRNewswire/ -- On March 30, GWM released its 2022 annual report. In 2022, GWM's total operating income amounted to CNY 137.34 billion. Net profit attributable to shareholders of listed companies was CNY 8.27 billion, up 22.90% year-on-year.

In 2022, GWM maintained a healthy and sustainable financial position by accelerating the pace of smart transformation and new energy, unlocking product potential and market momentum. And it has made progress in new energy, intelligence, globalization and systems transformation.

In 2023, the company will continue to take technological development as the foundation, global development as the wing, adhering to the new energy statement of "Greener, Higher, Safer", let conscientiousness and honesty be the essence of the automobile manufacturing, let core technology lead as the essence of competition, and let technology make equal rights for all people a reality.

Under the backdrop of the intelligent revolution and new energy in the industry, GWM continued to strengthen scientific and technological innovation. In 2022, the company invested CNY 12.18 billion in research and development, up 34.34% year-on-year and accounted for 8.87% of total operating revenue. It continued to strengthen research and development capabilities, consolidating its foundation with technological innovation, and further enhancing its core competitiveness.

As the only auto company in China and the only one of the two in the world to have completed a flat, networked and decentralized arrangement of the entire industrial chain in the two major fields of energy and intelligence, GWM has established a forest ecosystem with multiple species that continuously interact and evolve, forming a complete industrial arrangement, achieving independent control of basic technologies and effective collaboration of organizational systems.

In the field of new energies, GWM has established a strategy of parallel development of hybrid, pure electric and hydrogen energy, with multiple technological routes. It has built an industry-leading energy system of "photovoltaic energy distributed energy storage centralized energy storage", and completed the design of the entire value chain of "solar energy - battery - hydrogen energy - vehicle energy".

The newly launched Hi4 four-wheel drive intelligent hybrid technology has achieved a "new configuration" of three power sources with dual-axle distribution, a "new breakthrough" in iTVC intelligent torque vectoring control system, and a "new height" in electromechanically coupled drive systems. This technology will be applied for the first time in the newly launched HAVAL new energy model, and GWM's entire range of new energy products will also be fully popularized in 4x4 by 2024.

In the future, in the face of increasingly fierce market competition, GWM's forest ecosystem will continue to exert its strength, comprehensively rolling out new fields of smart energy with new sequences, new channels, new models, new technologies and new products, to continually improve its product mix and meet the diverse needs of consumers.

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