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Great Wall Motor Co Ltd Class H (HK:2333)
:2333

Great Wall Motor Co (2333) AI Stock Analysis

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HK:2333

Great Wall Motor Co

(2333)

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Neutral 67 (OpenAI - 5.2)
Rating:67Neutral
Price Target:
HK$15.00
▲(4.60% Upside)
The score is driven primarily by solid financial performance (notably stronger free cash flow and continued revenue growth), supported by reasonable valuation (moderate P/E and a ~3.5% dividend). These positives are tempered by weak technicals, with price trading below key moving averages and bearish momentum indicators.
Positive Factors
Revenue Growth
Consistent TTM revenue growth of 7.4% and multi-year expansion indicate sustained demand for GWM's SUVs, pickups and EVs. That demand supports scale economies, funds continued product development and dealer investment, and provides a firmer base for margin recovery over time.
Free Cash Flow Strength
A sharp rise in FCF (~23.8B, +42%) shows materially improved cash conversion, enabling internal funding of capex, EV R&D and potential debt paydown. Strong FCF reduces reliance on external financing and supports strategic investments that bolster long-term competitiveness.
Improving Leverage and ROE
Lower debt-to-equity and a healthy ROE (~13.1%) reflect stronger capitalization and financial flexibility. Reduced leverage gives the company resilience through auto cycles, allowing steady investment in EV platforms and international expansion without excessive refinancing risk.
Negative Factors
Margin Compression
Declining gross and net margins point to structural pressure from pricing, mix shifts or rising input costs. If sustained, this margin compression will impair cash generation and ROE, constraining the funding available for EV programs and competitive pricing over the medium term.
Relatively Low Operating Cash Conversion
Operating cash flow at ~29% of revenue is modest for an automaker; while improving, it leaves thinner operating buffers. Structurally stronger OCF conversion is needed to sustainably support capex, warranty and R&D spending without raising leverage during downturns.
Residual Debt Burden
Despite leverage improvements, lingering meaningful debt increases exposure to demand and rate shocks. Elevated debt levels can reduce strategic flexibility, increase interest costs and heighten refinancing risk, which can hamper investment pacing during adverse industry cycles.

Great Wall Motor Co (2333) vs. iShares MSCI Hong Kong ETF (EWH)

Great Wall Motor Co Business Overview & Revenue Model

Company DescriptionGreat Wall Motor Company Limited researches and develops, manufactures, and sells automobiles, and automotive parts and components in China, Russia, South Africa, Australia, Saudi Arabia, Chile, and internationally. The company offers pick-up trucks, SUVs, sedans, and energy vehicles primarily under the Haval, WEY, ORA, Tank, and Great Wall Pickup brand names; and unmanned vehicles. It also provides auto molds; new energy vehicle transmission and electric drive system; repairs automobiles; and transports general goods, as well as daily cargo transportation services. In addition, the company offers investment and financing, buildings rental, logistics, business information consultation, scrap car recycling and dismantling, finance leasing, asset management, equity investment, technology information and development, trade consultation, international trade, financial guarantee, and after-sales services, as well as automotive technology research, development, and technical consultation services. Further, it processes, recycles, and sells waste and used materials; and sells lubricants. Additionally, the company engages in the wholesale and retail of car accessories. It also exports its products. Great Wall Motor Company Limited was formerly known as Baoding Great Wall Motor Company Limited and changed its name to Great Wall Motor Company Limited in May 2003. The company was founded in 1984 and is headquartered in Baoding, China. Great Wall Motor Company Limited is a subsidiary of Baoding Innovation Great Wall Asset Management Company Limited.
How the Company Makes MoneyGreat Wall Motor generates revenue primarily through the sale of vehicles, including SUVs, pickup trucks, and electric vehicles. The company has a diversified revenue model that includes both domestic and international sales, with a strong presence in the Chinese automotive market. Key revenue streams consist of direct vehicle sales, as well as after-sales services and parts. Additionally, Great Wall Motor has formed strategic partnerships with various technology firms to enhance its electric vehicle development, further driving revenue growth. Factors contributing to its earnings include a growing demand for SUVs and electric vehicles, strong brand recognition, and expanding distribution channels both within China and in overseas markets.

Great Wall Motor Co Financial Statement Overview

Summary
Great Wall Motor Co demonstrates solid financial health with strong revenue and profit growth, efficient cost management, and robust cash flow generation. The increase in debt requires monitoring, but the company's strong equity position and cash flow capabilities provide a buffer against potential financial challenges.
Income Statement
72
Positive
Great Wall Motor Co has shown impressive growth with a consistent increase in total revenue from 2019 to 2024. The gross profit margin and net profit margin have improved over the years, indicating enhanced efficiency and profitability. The EBITDA and EBIT margins are robust, reflecting the company's ability to manage its operational costs effectively. Revenue growth has been strong, particularly from 2023 to 2024, demonstrating a positive growth trajectory.
Balance Sheet
70
Positive
The company's balance sheet shows a healthy equity ratio, indicating a strong capital structure with a significant portion of total assets funded by equity. The debt-to-equity ratio is reasonable, suggesting manageable leverage levels. Return on equity has improved, highlighting the company's ability to generate profit from shareholder investments. However, there is a notable increase in total debt from 2022 to 2024, which could pose potential risks if not managed carefully.
Cash Flow
74
Positive
Great Wall Motor Co exhibits strong cash flow management with a significant increase in free cash flow from 2023 to 2024, reflecting its ability to generate cash after capital expenditures. The operating cash flow to net income ratio is healthy, indicating efficient conversion of net income into cash. The company has shown resilience in maintaining positive free cash flow, which supports potential reinvestment and debt repayment strategies.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue215.44B199.61B173.21B137.34B136.40B103.31B
Gross Profit38.06B38.78B32.44B26.60B22.04B17.78B
EBITDA13.15B16.05B11.99B16.06B13.46B11.25B
Net Income11.11B12.69B7.02B8.27B6.73B5.36B
Balance Sheet
Total Assets241.49B217.27B201.27B185.36B175.41B154.01B
Cash, Cash Equivalents and Short-Term Investments56.01B47.14B50.01B37.83B39.09B19.41B
Total Debt52.76B57.89B57.93B30.72B21.48B20.07B
Total Liabilities147.03B138.27B132.76B120.14B113.28B96.67B
Stockholders Equity94.46B78.99B68.50B65.20B62.12B57.34B
Cash Flow
Free Cash Flow23.77B16.05B1.04B22.22B
Operating Cash Flow36.43B27.78B17.75B12.31B35.32B5.18B
Investing Cash Flow-38.03B-23.30B-10.45B
Financing Cash Flow-10.25B-12.18B1.05B11.37B

Great Wall Motor Co Technical Analysis

Technical Analysis Sentiment
Negative
Last Price14.34
Price Trends
50DMA
14.93
Negative
100DMA
16.04
Negative
200DMA
14.24
Positive
Market Momentum
MACD
-0.16
Positive
RSI
44.93
Neutral
STOCH
20.84
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2333, the sentiment is Negative. The current price of 14.34 is below the 20-day moving average (MA) of 14.59, below the 50-day MA of 14.93, and above the 200-day MA of 14.24, indicating a neutral trend. The MACD of -0.16 indicates Positive momentum. The RSI at 44.93 is Neutral, neither overbought nor oversold. The STOCH value of 20.84 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:2333.

Great Wall Motor Co Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
72
Outperform
HK$184.40B9.6117.60%1.95%
67
Neutral
HK$186.52B10.3613.04%3.41%7.93%-12.94%
64
Neutral
HK$80.05B-11.30-3.15%1.35%-8.79%-212.16%
61
Neutral
$18.38B12.79-2.54%3.03%1.52%-15.83%
59
Neutral
HK$131.31B28.017.01%-10.21%-54.95%
53
Neutral
HK$153.30B-50.65-9.03%86.21%51.50%
40
Underperform
HK$84.31B-3.33-297.21%14.73%2.81%
* Consumer Cyclical Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
HK:2333
Great Wall Motor Co
14.34
1.91
15.33%
HK:0175
Geely Automobile Holdings
17.17
3.83
28.68%
HK:2238
Guangzhou Automobile Group Co
3.91
0.89
29.64%
HK:2015
Li Auto, Inc. Class A
65.05
-20.35
-23.83%
HK:9866
NIO Inc. Class A
37.72
6.07
19.18%
HK:9868
XPeng, Inc. Class A
82.10
32.00
63.87%

Great Wall Motor Co Corporate Events

Great Wall Motor Posts Higher 2025 Full-Year Sales on Overseas and NEV Growth Despite Softer December
Jan 1, 2026

Great Wall Motor reported total December 2025 vehicle sales of 124,020 units, down 8.33% year on year, but full-year 2025 sales rose 7.33% to 1,323,672 units, reflecting broad-based annual growth across most core brands despite mixed monthly performance. Haval sales fell 20.34% in December but still delivered 7.41% growth for the year, while the premium WEY brand nearly doubled its year-to-date sales, and pickup and TANK models posted modest annual gains, underscoring a strengthening product mix. ORA’s December sales surged 71.60% even as its full-year volumes declined from the prior year, indicating a potential recovery in the new energy segment. Overseas sales reached 57,418 units in December and 506,066 units for the year, highlighting the company’s increasing international footprint, while new energy vehicle sales totaled 38,922 units in December and 403,653 units for 2025, reinforcing Great Wall Motor’s strategic shift toward electrification and its growing relevance in global EV markets. The company noted that all reported figures are unaudited and subject to final confirmation in its forthcoming financial results.

The most recent analyst rating on (HK:2333) stock is a Hold with a HK$16.50 price target. To see the full list of analyst forecasts on Great Wall Motor Co stock, see the HK:2333 Stock Forecast page.

Great Wall Motor Eases 2026 Sales Targets in Equity Incentive Schemes, Seeks Shareholder Approval
Dec 29, 2025

Great Wall Motor Company Limited has approved adjustments to the 2026 company-level sales volume performance appraisal targets embedded in its 2023 Restricted Share Incentive Scheme, 2023 Share Option Incentive Scheme and 2023 Second Employee Stock Ownership Plan. The board has resolved to amend the relevant terms and associated appraisal and management measures for these equity incentive programmes, with the changes deemed material and beneficial to participants and therefore subject to shareholder approval at an upcoming extraordinary general meeting and class meetings, while all other elements of the schemes remain unchanged.

The most recent analyst rating on (HK:2333) stock is a Hold with a HK$16.50 price target. To see the full list of analyst forecasts on Great Wall Motor Co stock, see the HK:2333 Stock Forecast page.

Great Wall Motor Raises 2026 Cap on Connected-Party Leasing Arrangements
Dec 29, 2025

Great Wall Motor Company Limited has signed a supplemental agreement with its chairman, Wei Jian Jun, and his associates to revise the 2026 annual cap for long-term leasing of assets such as plants, land, equipment and dormitories from entities connected to him. The revised cap, which falls between 0.1% and 5% under Hong Kong Listing Rules, reclassifies these arrangements as continuing connected transactions subject to reporting, announcement and annual review requirements, but does not require independent shareholders’ approval; pricing will continue to follow market-based, arm’s length principles, using open tenders and comparisons with independent third-party transactions, aiming to ensure compliance and transparency in the company’s use of key operating assets.

The most recent analyst rating on (HK:2333) stock is a Hold with a HK$16.50 price target. To see the full list of analyst forecasts on Great Wall Motor Co stock, see the HK:2333 Stock Forecast page.

Great Wall Motor Calls January 2026 EGM to Approve Related Party Deal with Spotlight Automotive
Dec 29, 2025

Great Wall Motor Company Limited has convened an extraordinary general meeting for 21 January 2026 in Baoding, Hebei, where shareholders will vote on approving ordinary related party transactions with Spotlight Automotive under applicable stock exchange rules. The notice outlines share registration, proxy, and attendance procedures for H-share holders, underscoring the importance of shareholder participation in formalising this related party arrangement, which may influence the company’s operational collaboration framework and governance of transactions with key partners.

The most recent analyst rating on (HK:2333) stock is a Hold with a HK$16.50 price target. To see the full list of analyst forecasts on Great Wall Motor Co stock, see the HK:2333 Stock Forecast page.

Great Wall Motor Shareholders Approve 2025 Employee Stock Ownership Plan at EGM
Dec 23, 2025

Great Wall Motor Company Limited announced that shareholders have overwhelmingly approved all resolutions put forward at its extraordinary general meeting held on 23 December 2025 in Baoding, Hebei Province. The meeting, which achieved a quorum with about 70% of the company’s issued share capital represented through on-site and online voting, passed the 2025 Employee Stock Ownership Plan (ESOP) with over 99% of votes cast in favour across both A and H shareholders, underscoring strong investor support for the company’s incentive framework and its efforts to align employee interests with long-term corporate performance.

The most recent analyst rating on (HK:2333) stock is a Hold with a HK$16.50 price target. To see the full list of analyst forecasts on Great Wall Motor Co stock, see the HK:2333 Stock Forecast page.

Great Wall Motor Proposes 2025 Employee Stock Ownership Plan
Dec 3, 2025

Great Wall Motor Company Limited has announced the proposed adoption of the 2025 Employee Stock Ownership Plan (ESOP), which aims to enhance corporate governance and promote sustainable development by aligning the interests of business partners and core management with the long-term value of the company. The ESOP is designed to motivate and retain key staff, with a focus on voluntary participation and compliance with legal regulations, and is subject to approval at the upcoming extraordinary general meeting.

The most recent analyst rating on (HK:2333) stock is a Buy with a HK$23.70 price target. To see the full list of analyst forecasts on Great Wall Motor Co stock, see the HK:2333 Stock Forecast page.

Great Wall Motor Announces EGM to Discuss 2025 ESOP and Incentive Plans
Dec 3, 2025

Great Wall Motor Company Limited has announced an Extraordinary General Meeting (EGM) scheduled for December 23, 2025, to discuss and approve several key resolutions, including the 2025 Employee Stock Ownership Plan (ESOP) and related management measures. This meeting is significant for stakeholders as it addresses long-term incentive strategies and remuneration management, which could impact the company’s operational efficiency and market competitiveness.

The most recent analyst rating on (HK:2333) stock is a Buy with a HK$23.70 price target. To see the full list of analyst forecasts on Great Wall Motor Co stock, see the HK:2333 Stock Forecast page.

Great Wall Motor Reports Strong November 2025 Sales Performance
Dec 1, 2025

Great Wall Motor Company Limited reported a positive production and sales performance for November 2025, with a total sales volume increase of 4.57% compared to the same period last year. Notably, the WEY model saw a significant year-over-year sales increase of 81.14%, while the company’s NEV sales reached 40,113 units in November. The announcement highlights the company’s strategic focus on boosting its NEV sales and expanding its international market presence, with overseas sales reaching 57,309 units for the month.

The most recent analyst rating on (HK:2333) stock is a Buy with a HK$23.70 price target. To see the full list of analyst forecasts on Great Wall Motor Co stock, see the HK:2333 Stock Forecast page.

Great Wall Motor Reports Strong October 2025 Sales Growth
Nov 2, 2025

Great Wall Motor Company Limited announced its production and sales figures for October 2025, revealing a substantial increase in both areas compared to the previous year. The company reported a total sales volume of 143,078 units, marking a 22.50% year-on-year growth, with notable increases in the sales of its Haval, WEY, and Great Wall Pickup models. Overseas sales reached 57,158 units, while NEV sales achieved 46,155 units, highlighting the company’s strong performance and strategic focus on expanding its market presence and enhancing its product offerings.

The most recent analyst rating on (HK:2333) stock is a Buy with a HK$17.00 price target. To see the full list of analyst forecasts on Great Wall Motor Co stock, see the HK:2333 Stock Forecast page.

Great Wall Motor Reports Q3 2025 Financial Results: Revenue Up, Profits Down
Oct 24, 2025

Great Wall Motor Company Limited announced its unaudited financial results for the third quarter of 2025, revealing a significant increase in total operating income by 20.51% compared to the same period last year. However, the company experienced a decline in total profit and net profit attributable to shareholders, with decreases of 21.25% and 31.23% respectively, indicating challenges in profitability despite revenue growth.

The most recent analyst rating on (HK:2333) stock is a Hold with a HK$17.50 price target. To see the full list of analyst forecasts on Great Wall Motor Co stock, see the HK:2333 Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jan 14, 2026