Shulou(Shulou.com)11/24 Report--

CTOnews.com, October 22, October 21, Great Wall Motor announced in a notice on the Hong Kong Stock Exchange that the company plans to jointly invest with Wei Jianjun and Wensheng Technology (Tianjin) Co., Ltd. to establish Core Semiconductor Technology Co., Ltd. (provisional name, final subject to industrial and commercial registration).

According to the announcement, the registered capital of Xinzhong Semiconductor Technology Co., Ltd. is 50 million yuan, of which Wei Jianjun subscribed 5 million yuan, accounting for 10%; Great Wall Motor subscribed 10 million yuan, accounting for 20%; and Wensheng Technology (Tianjin) Co., Ltd. subscribed 35 million yuan, accounting for 70%.

According to Great Wall Motor, Wei Jianjun is the chairman and actual controller of Great Wall Motor Company, and Wensheng Technology (Tianjin) Co., Ltd. is a company directly controlled by Wei Jianjun. This related party transaction is conducive to the smooth progress of the company's new energy development strategy and create maximum value for the company and its shareholders.

CTOnews.com learned that yesterday Great Wall Motor disclosed its third-quarter 2022 report that the company's third-quarter operating income was about 37.346 billion yuan, an increase of 29.36 percent over the same period last year; net profit belonging to shareholders of listed companies was about 2.56 billion yuan, up 80.74 percent from the same period last year; and basic earnings per share was 0.28 yuan per share. Data show that in the first three quarters, the total operating income of Great Wall Motor was about 99.48 billion yuan, an increase of 9.56 percent over the same period last year; the net profit belonging to shareholders of listed companies was about 8.16 billion yuan, an increase of 65.03 percent over the same period last year; and basic earnings per share was 0.89 yuan per share.

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