(Yicai Global) Jan. 29 -- Great Wall Motor Co. said earnings dropped 53 percent last year because of higher advertising costs, increased marketing expenditure and boosted spending on research and development.

Net profit fell to CNY5.04 billion (USD796 million) in 2017, the Baoding-based maker of sport utility vehicles said yesterday. Operating revenue rose 2.6 percent to CNY101 billion, while unit sales fell 0.4 percentage points to 1 million. It gave no further details.

Shares of Great Wall Motor [SHE:601633] ended trading little changed today, gaining 0.24 percent to CNY12.55 (USD1.98) after rising as much as 2.1 percent.