Great Wall Motor : 2021Annual Report

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

H Share Stock Code: 2333

A Share Stock Code: 601633

* For identification purpose only

ANNUAL REPORT 2021

IMPORTANT NOTICE

• I. The Board, the Supervisory Committee and the directors, supervisors and senior management of the Company warrant that the contents of this annual report are true, accurate and complete and do not contain any false representations, misleading statements or material omissions, and jointly and severally take legal liability for its contents.

• II. All the directors of the Company attended the Board meeting.

• III. Deloitte Touche Tohmatsu Certified Public Accountants LLP has issued the standard audited report for the Company without qualified opinion.

• IV. Wei Jian Jun, person-in-charge of the Company, Li Hong Shuan, person-in-charge of the accounting affairs and Wang Hai Ping, person-in-charge of the accounting department (head of the accounting department), declare that they warrant the truthfulness, accuracy and completeness of the financial report in this annual report.

• V. Proposal of profit distribution or capitalization of capital reserve during the Reporting Period reviewed and approved by the Board

  As audited by Deloitte Touche Tohmatsu Certified Public Accountants LLP, the net profit of the Group and net profit attributable to shareholders of the Company in 2021 amounted to RMB6,725,014,517.95 and RMB6,726,093,883.72 respectively. The Company has implemented the profit plan for the interim period of 2021, pursuant to which it distributed a cash dividend of RMB0.30 (tax inclusive) per share to all shareholders, with a total cash dividend of RMB2,771,008,419.60 (tax inclusive) distributed. Having comprehensively considered the Company's profit distribution for the interim period of 2021, and the Company's actual operating conditions, for the final period of 2021, the Company proposes to distribute to all Shareholders cash dividends was RMB0.07 (tax included) per share for the year ended 31 December 2021 based on the total share capital on the equity registration date when the Company implements profit distribution. For the final period of 2021, the proposed distribution amount was RMB646,509,998.12. The cash dividends distributed in 2021 accounted for 50.81% of the Company's net profit attributable to shareholders of the Company for 2021. This proposal is subject to the approval at the 2021 annual general meeting of the Company.

• VI. Risks relating to forward-looking statements

  √ Applicablec Not applicable

  Forward-looking statements, such as future plans and development strategies, contained in this report do not constitute any actual commitment of the Company to its investors. Investors should be aware of the investment risks.

• VII. Was there any non-operational appropriation of the Company's funds by controlling shareholders and its related parties?

  No

• VIII. Was there any provision of guarantee for external parties in violation of the stipulated decision-making procedures?

  No

• IX. Was there over half of the directors unable to guarantee the truthfulness, accuracy, and completeness of the annual report disclosed by the Company?

  No

• X. Reminder of material risks

  During the Reporting Period, there were no material risks resulting in any significant impact on the production and operation of the Company. Risks that the Company may encounter in the course of production and operation and its corresponding measures have detailed in "Discussion and Analysis concerning the Future Development of the Company" under item VI of Section 4 headed "Management Discussion and Analysis" of this report.

• XI. Others

   Applicablec√ Not applicable

CONTENTS

Section 1

Definitions 16

Section 7

Corporate Governance 104

Section 2

Corporate Profile and Key Financial

Indicators 18

Section 3

Chairman's Statement 27

Section 4

Management Discussion and Analysis 29

Section 5

Report of the Board 90

Section 6

Report of the Supervisory Committee 98

Index of Documents Available for Inspection

Section 8

Environment and Social Responsibilities 170

Section 9

Significant Events 188

Section 10

Changes in Shares and Shareholders 208

Section 11

Description of Preference Shares 220

Section 12

Description of Bonds 221

Section 13

Financial Report (Auditor's Report) 226

The original financial statements signed and sealed by the legal representative, person in-charge of the accounting affairs and person-in-charge of the accounting department.

The original auditor's report with the seal of the accounting firm and signatures and seals of the certified public accountants.

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