Great Wall net profit rises 5% in first half

Great Wall Motor Co.'s net profit increased 5 percent year on year to 4.9 billion yuan ($740 million) in the first six months of the year.
Revenue at China's largest manufacturer of crossovers and SUVs increased 12 percent from a year earlier to 41.7 billion yuan during the period.
The company attributed the rise in revenue and earnings to strong sales of crossovers, especially a new model, the Haval H7.
In the first half, Great Wall's sales of crossovers and SUVs advanced 13 percent from a year earlier to 334,390 vehicles. 
Deliveries of the Haval H7, which went on sale in late April, reached 8,059 vehicles in the first half. The vehicle has a starting price of 149,800 yuan, higher than Great Wall¡¯s other crossovers. 
The company's overall sales, including SUVs, sedans and pickups, rose 8 percent to 450,252 vehicles in the first six months.
Great Wall, headquartered in the north China city of Baoding, is listed in Hong Kong and Shanghai.

Source:Automotive News China

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