Great Wall Motor Says Net Rises 29 Percent to 3.47 Billion Yuan

Great Wall Motor Co. (2333), a Chinese maker of sports utilities vehicles and pickup trucks, said preliminary full-year net income rose 29 percent to 3.47 billion yuan ($550 million).

Operating income increased to 30 billion yuan in 2011 from 23 billion yuan the previous year, the Baoding, Hebei province - based maker of the Haval brand SUV said in a Shanghai stock exchange statement today.

China’s auto sales growth slowed last year, trailing the U.S. for the first time in at least 14 years, after the government ended stimulus measures and economic expansion showed signs of easing, according to data released by the China Association of Automobile Manufacturers yesterday.

To contact Bloomberg News staff for this story: Henry Sanderson in Beijing at hsanderson@bloomberg.net

To contact the editor responsible for this story: Shelley Smith at ssmith118@bloomberg.net

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