HK Stock Market Move | Great Wall Motor (02333) falls more than 4%, performance affected by exchange gains and losses, net profit for the first quarter decreased by 46.01% year-on-year.

Great Wall Motor (02333) fell more than 4%, falling by 4.16% to HK$12.45, with a turnover of HK$3.07 billion. On the news front, on the evening of April 24, Great Wall Motor released its first quarter report for 2026, reporting a total operating income of 45.109 billion yuan, a year-on-year increase of 12.72%; the net profit attributable to shareholders of the listed company was 945 million yuan, a year-on-year decrease of 46.01%. The decrease in net profit during the reporting period was mainly due to exchange rate fluctuations that resulted in exchange gains in the same period last year. Morgan Stanley stated that Great Wall Motor's performance in the first quarter of this year fell short of expectations. The bank believes that the forex headwinds have been priced in by the market, and the delayed tax refund from Russia will eventually be received. However, the short-term volatility and the lack of surprises in the company's full-year profit forecast will exert downward pressure on the stock price.