- GWM’s net income for 2025 came in at RMB 9.91 billion ($1.43 billion), representing a year-on-year decrease of 21.71%.
- The decline was primarily due to increased expenditures from new channel development and intensified marketing efforts for new models and technologies.
GWM (HKG: 2333, SHA: 601633) previewed a net income decline for 2025 amid rising expenditures.
The Chinese automaker’s 2025 net income was RMB 9.91 billion ($1.43 billion), down 21.71% from RMB 12.66 billion in 2024, according to its earnings preview released on Friday.
After excluding non-recurring gains and losses, GWM’s net income was RMB 6.16 billion, a 36.48% decrease from RMB 9.70 billion in 2024.
The company’s 2025 revenue came in at RMB 222.79 billion, marking a 10.19% year-on-year increase.
GWM accelerated the development of new direct-to-consumer channels in 2025, intensifying marketing efforts for new models and technologies while enhancing its brand, leading to increased investments, it said.
GWM sold 1,323,672 vehicles in 2025, a 7.33% increase from 2024, according to data compiled by CnEVPost.
| Year | Sales | Growth |
|---|---|---|
| 2021 | 1,280,993 | 15.2% |
| 2022 | 1,067,523 | -16.7% |
| 2023 | 1,230,530 | 15.3% |
| 2024 | 1,233,292 | 0.2% |
| 2025 | 1,323,672 | 7.3% |
GWM annual vehicle sales
Sales
YoY Growth
Overseas sales emerged as a bright spot, reaching 506,066 units in 2025 — an 11.68% year-on-year increase.
GWM’s new energy vehicle (NEV) sales in 2025 totaled 403,653 units, rising 25.44% year-on-year.
Among its brands, Haval remained dominant, selling 758,554 units in 2025 — a 7.41% year-on-year increase — contributing 57.31% of GWM’s total sales during the period.
Momenta will provide smart driving solutions for two new GWM models, expected to be launched early next year.
($1 = RMB 6.9484)
