Interim Results in Line With Steady Margin
Great Wall Motor reported interim 2015 revenue of CNY 42 billion, up 12% year on year. Operating profit was CNY 5.8 billion, up 3.6% year on year. Attributable net income totaled CNY 4.9 billion, up 4.5% year on year. Earnings per share before extraordinary gains and losses were CNY 0.53, up 5% year on year. The results are in line with the preliminary guidance and on track relative to our full-year projections. Hence, we maintain our fair value estimate of HKD 10, along with our no-moat rating ...
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