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    2333   CNE100000338

GREAT WALL MOTOR COMPANY LIMITED

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Delayed Hong Kong Stock Exchange  -  05/24 04:08:14 am EDT
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GWM's New Category HAVAL DARGO is Entering the Global Market

01/25/2022 | 12:48am EDT

BAODING, China, Jan. 24, 2022 /CNW/ -- In January, GWM's 3/4 scale model HAVAL DARGO went on sale in Saudi Arabia and attracted worldwide attention.

At the first sight of HAVAL DARGO at the Jeddah International Motor Show, Saudi Arabian buyer Mr Ebrahim was attracted by its tough modelling and placed an order immediately following a test drive.

"The 3/4 scale model HAVAL DARGO suits me very much. It can fully meet my demand for both daily commuting and traveling on weekends," Ebrahim said.

Actually, the new concept of the 3/4 scale model invented by GWM is to define a new category between urban SUVs and off-road SUVs. According to GWM, 1/4 scale represents the station wagons for travel, 2/4 scale means urban SUVs, and 4/4 scale stands for off-road SUVs used in outdoor scenarios. The company has researched users' needs and identifies that there should also be a new model which could combine hard-core and urban SUVs to meet the diversified users' demands in their daily life.

This kind of new concept not only grants HAVAL DARGO a tough appearance but also offers the product a comfortable configuration. Regarding the appearance, HAVAL DARGO is designed with a square body, a large trapezoidal air-inlet grille, a stubby front bumper, and vintage round headlights, giving people a very strong visual impact. In terms of interior design, it has a spacious cabin, a multifunctional steering wheel, novel dashboards and a central console screen.

Directed by the 3/4 scale model concept, HAVAL DARGO would be the best transportation tool for daily activities and also can let users enjoy cross-country travel. Multiple driving modes, such as "NORMAL", "SPORT", "MUD", "SAND" and "SNOW", are enabled by the intelligent 4WD system and differential locks on this model. When driving in a desert, snowfield and other road conditions, drivers can turn on the differential locks to ensure the steady power output and increased safety of the SUV, so that they will not lose control of the vehicle due to the slippery road surface.

To prove its acceptance via some overseas local tests, the HAVAL DARGO has been previewed by the key motoring media in Australia before its global launch, where it received comprehensive recognition and advices."This car is definitely a fresh take in the overcrowded medium SUV market, and this one would definitely stand out," CarsAdvice commented.

The 3/4 scale model has been favoured by users upon its launch in China in 2020. It has been attracting the attention of many young consumers for its comfort and powerful off-road capability, generating cumulative sales of over 100,000 units in 2021.

This year, according to the company, HAVAL DARGO will be in the markets of Russia, Iraq, Chile and Ukraine to allow more consumers to have a chance to feel the charm of the 3/4 scale model.

Cision
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SOURCE GWM

© Canada Newswire, source Canada Newswire English

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Financials
Sales 2022 180 B 27 059 M 27 059 M
Net income 2022 8 689 M 1 306 M 1 306 M
Net cash 2022 674 M 101 M 101 M
P/E ratio 2022 11,3x
Yield 2022 4,07%
Capitalization 244 B 36 683 M 36 683 M
EV / Sales 2022 1,35x
EV / Sales 2023 1,07x
Nbr of Employees 77 934
Free-Float 44,2%
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Number of Analysts 30
Last Close Price 10,53 CNY
Average target price 17,14 CNY
Spread / Average Target 62,8%
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Feng Ying Wang General Manager
Hong Shuan Li Chief Financial Officer & Executive Director
Jian Jun Wei Chairman
Cai Juan Lu Chairman-Supervisory Board
Wan Jun Li Independent Non-Executive Director
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