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    2333   CNE100000338

GREAT WALL MOTOR COMPANY LIMITED

(2333)
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Great Wall Motor : CLARIFICATION OF PRESS ARTICLES

04/25/2021 | 06:18am EDT

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

長 城 汽 車 股 份 有 限 公 司

GREAT WALL MOTOR COMPANY LIMITED*

(a joint stock company incorporated in the People's Republic of China with limited liability)

(Stock Code: 2333)

ANNOUNCEMENT

CLARIFICATION OF PRESS ARTICLES

This announcement is made by Great Wall Motor Company Limited (the "Company" and the "Great Wall Motor") pursuant to 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

  1. Summary of the press articles The press articles stated that:

Affected by the shortage of chip supply, Great Wall Motor encountered the bottleneck of production capacity. In May and June, the two major production bases of Chongqing Yongchuan and Xushui are expected to face the shutdown of production, which would affect various popular models including Haval H6, Great Wall POER and TANK 300.

To ensure the timeliness and fairness of information disclosure and safeguard the interests of investors, the board of directors of the Company has promptly conducted a thorough investigation to verify the relevant facts.

  1. Clarification

After investigation, the above news report is not true. The two major production bases of the Company, Chongqing and Xushui, have no plan to stop production. At present, the Great Wall Motor is facing a shortage of chip supply. The production by certain factories have been affected to certain extent, but none of them has stopped production. In view of the tight supply of chip market, the Company is actively taking various measures to respond, including actively purchasing chips worldwide, strengthening supply chain management, etc, to alleviate the impact of chip supply shortage.

The shareholders of the Company and potential investors are advised to exercise caution when dealing in the securities of the Company.

This announcement is available on the website of The Stock Exchange of Hong Kong Limited (www.hkexnews.hk), the website of Shanghai Stock Exchange (www.sse.com.cn) and the official website of the Company (www.gwm.com.cn).

By order of the Board

Great Wall Motor Company Limited

Xu Hui

Company Secretary

Baoding, Hebei Province, the PRC, 25 April 2021

As at the date of this announcement, members of the Board comprise:

Executive Directors: Mr. Wei Jian Jun, Ms. Wang Feng Ying and Ms. Yang Zhi Juan.

Non-executive Director: Mr. He Ping.

Independent Non-executive Directors: Ms. Yue Ying, Mr. Li Wan Jun and Mr. Ng Chi Kit.

* For identification purpose only

Disclaimer

Great Wall Motor Co. Ltd. published this content on 25 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 April 2021 10:17:00 UTC.


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Sales 2021 134 B 20 753 M 20 753 M
Net income 2021 8 260 M 1 280 M 1 280 M
Net Debt 2021 10 479 M 1 624 M 1 624 M
P/E ratio 2021 23,6x
Yield 2021 2,07%
Capitalization 339 B 52 375 M 52 526 M
EV / Sales 2021 2,61x
EV / Sales 2022 2,22x
Nbr of Employees 63 174
Free-Float 43,8%
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Mean consensus OUTPERFORM
Number of Analysts 28
Last Close Price 21,09 CNY
Average target price 23,10 CNY
Spread / Average Target 9,52%
EPS Revisions
Managers and Directors
Feng Ying Wang Vice Chairman & General Manager
Hong Shuan Li Chief Financial Officer
Jian Jun Wei Chairman
Cai Juan Lu Member-Supervisory Chairman
Li Hui Ma Independent Non-Executive Director
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