Part 2/9:
Publicly traded and operating under a state-owned enterprise framework, Great Wall Motors manages an array of brands, including Haval, Ora, Tank, and Great Wall Pickups. The company has encountered fierce price competition within China's auto market, significantly affecting its profitability. By 2023, Great Wall reported a net profit of 7 billion yuan, reflecting a 15% decline year-over-year. The negative trend continued into 2024, where profits plunged an additional 7.8% in the third quarter.