董事会认为，以元控智驱为独立主体开展智能驾驶业务符合本集团发展战略，有利于提升业务转化效 能，完善创新机制，优化资源配置及鼓励团队自主性。董事会相信，元控智驱的成立将与本集团现有业 务形成协同效应，并为本集团的长期发展注入新动力。 五菱汽车(00305)发布公告，为把握汽车产业智能化战略机遇，本集团已成立一家间接非全资拥有的附 属公司—广西元控智驱科技有限公司(元控智驱)，以独立业务主体主营低速智能驾驶系统及解决方案业 务。该等业务目前由本公司直接非全资拥有的附属公司—柳州五菱汽车工业有限公司(五菱工业)负责经 营。元控智驱目前为五菱工业直接全资拥有的附属公司。 元控智驱主要从事低速智能驾驶业务，专注于线控底盘与低速智能无人车的研发及制造，并提供其解决 方案。主要产品包括系列化线控底盘产品及场景化整车产品，其均可满足智能充电机器人、无人接驳、 无人物流等方面的需求，部份产品已成功推出市场。元控智驱的成立旨在借助本集团现有资源及优势， 进一步精准孵化、赋能及促进本集团智能驾驶业务的发展。 ...

元控智驱主要从事低速智能驾驶业务，专注于线控底盘与低速智能无人车的研发及制造，并提供其解决 方案。主要产品包括系列化线控底盘产品及场景化整车产品，其均可满足智能充电机器人、无人接驳、 无人物流等方面的需求，部份产品已成功推出市场。元控智驱的成立旨在借助本集团现有资源及优势， 进一步精准孵化、赋能及促进本集团智能驾驶业务的发展。 董事会认为，以元控智驱为独立主体开展智能驾驶业务符合本集团发展战略，有利于提升业务转化效 能，完善创新机制，优化资源配置及鼓励团队自主性。董事会相信，元控智驱的成立将与本集团现有业 务形成协同效应，并为本集团的长期发展注入新动力。 智通财经APP讯，五菱汽车(00305)发布公告，为把握汽车产业智能化战略机遇，本集团已成立一家间接 非全资拥有的附属公司—广西元控智驱科技有限公司(元控智驱)，以独立业务主体主营低速智能驾驶系 统及解决方案业务。该等业务目前由本公司直接非全资拥有的附属公司—柳州五菱汽车工业有限公司 (五菱工业)负责经营。元控智驱目前为五菱工业直接全资拥有的附属公司。 ...

董事会认为，以元控智驱为独立主体开展智能驾驶业务符合集团发展战略，有利于提升业务转化效能， 完善创新机制，优化资源配置及鼓励团队自主性。董事会相信，元控智驱成立将与集团现有业务形成协 同效应，并为集团的长期发展注入新动力。 格隆汇11月19日丨五菱汽车(00305.HK)公告，为把握汽车产业智能化战略机遇，集团已成立一家间接非 全资拥有附属公司—广西元控智驱科技有限公司("元控智驱")，以独立业务主体主营低速智能驾驶系统 及解决方案业务。该等业务目前由公司直接非全资拥有附属公司—柳州五菱汽车工业有限公司("五菱工 业")(现时由公司持有约60.9%权益及由公司控股股东—广西汽车集团有限公司持有约39.1%权益)负责经 营。元控智驱目前为五菱工业直接全资拥有附属公司。 元控智驱主要从事低速智能驾驶业务，专注于线控底盘与低速智能无人车研发及制造，并提供其解决方 案。主要产品包括系列化线控底盘产品及场景化整车产品，其均可满足智能充电机器人、无人接驳、无 人物流等方面的需求，部份产品已成功推出市场。元控智驱的成立旨在借助本集团现有资源及优势，进 一步精准孵化、赋能及促进本集团智能驾驶业务发展。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任何部份內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 自願公告 成立專注於低速智能駕駛系統及解決方案業務之附屬公司 此乃五菱汽車集團控股有限公司（「本公司」及連同其附屬公司「本集團」） 之自願公佈。 本公司董事會（「董事會」）欣然宣佈，為把握汽車產業智能化戰略機遇， 本集團已成立一家間接非全資擁有之附屬公司—廣西元控智驅科技有限公司 （「元控智驅」），以獨立業務主體主營低速智能駕駛系統及解決方案業務。該 等業務目前由本公司直接非全資擁有之附屬公司—柳州五菱汽車工業有限公司 （「五菱工業」）（現時由本公司持有約60.9%之權益及由本公司控股股東—廣 西汽車集團有限公司持有約39.1%之權益）負責經營。元控智驅目前為五菱工業 直接全資擁有之附屬公司。 元控智驅主要從事低速智能駕駛業務，專注於線控底盤與低速智能無人車之 研發及製造，並提供其解決方案。主要產品包括系列化線控底盤產品及場景化整 車產品，其均可滿足智能充電機器人、無人接駁、無人物流等方面的需求，部份 ...

New Car Launches - Aion UT Super launched at a price of 89,900 yuan, featuring a 100kW motor and a 54.04kWh lithium iron phosphate battery with a CLTC range of 500km [1][3][9] - Changan Qiyuan A06 launched with prices ranging from 109,900 to 149,900 yuan, offering both pure electric and range-extended versions [1][17] - Wuling Hongguang family launched with prices between 54,800 and 77,800 yuan, available in fuel, pure electric, and range-extended versions [1][19] - Zhiji LS9 launched with a price range of 322,800 to 352,800 yuan, featuring advanced interior and exterior designs [1][26][31] - Wuling Xingguang 730 launched with prices from 73,000 to 109,800 yuan, available in fuel, plug-in hybrid, and pure electric versions [1][34] - Aion i60 launched at a price range of 109,800 to 135,800 yuan, offering both pure electric and range-extended versions [1][6] - Ora 5 opened for pre-sale with a price range of 109,800 to 142,800 yuan, targeting the young market with its design [1][52] - Nissan N6 opened for pre-sale with a price range of 109,900 to 121,900 yuan, featuring a hybrid powertrain [1][58] - Xingtou ET5 opened for pre-sale with a price range of 159,900 to 174,900 yuan, equipped with advanced driving assistance systems [1][66] - Hongqi HS6 PHEV opened for pre-sale with a price range of 178,800 to 228,800 yuan, featuring a luxurious design and advanced technology [1][72] Company Dynamics - FAW-Volkswagen has produced its 30 millionth vehicle, becoming the first passenger car company in China to reach this milestone [1][79] - Faraday Future reported a third-quarter loss of $206.8 million, with ongoing financial challenges despite receiving over 11,000 paid orders for its new FX Super One model [1][84][87] - Dongfeng Motor plans to mass-produce solid-state batteries next year, with a projected energy density of 350Wh/kg [1][88][91] - Leap Motor announced it has surpassed 500,000 cumulative sales this year, achieving its 2025 sales target ahead of schedule [1][92][94] Industry News - In October, the retail penetration rate of new energy vehicles reached 57%, with 1.282 million new energy vehicles sold out of a total of 2.242 million vehicles [1][112][113]

Core Viewpoint - Wuling Motors has launched the Wuling Darion, Indonesia's first pure electric and plug-in hybrid MPV, aimed at meeting the evolving needs of Indonesian consumers for comfort, efficiency, and added value [2]. Company Summary - Wuling Motors produced the Darion at its factory in Cikarang, West Java, marking a significant step in the local automotive market [2]. - Since its establishment in 2017, Wuling has sold over 80,000 MPVs in Indonesia, establishing a strong presence in the market [2]. - The Darion is designed to provide a comfortable, stylish, and environmentally friendly option for Indonesian families, reflecting Wuling's commitment to local manufacturing [2]. Industry Summary - The MPV market in Indonesia is evolving, with consumers increasingly prioritizing comfort and efficiency over mere functionality [2]. - Rising vehicle prices and operating costs have created an opportunity for Wuling to introduce a more advanced and efficient MPV like the Darion [2]. - The Darion features a spacious cabin, competitive pricing within its class, and reduced operating costs due to electrification technology, catering specifically to family users [2].

FF301 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00305 | 說明 | 五菱汽車 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 25,380,350,000 | HKD | | 0.004 HKD | | 101,521,400 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 25,380,350,000 | HKD | | 0.004 HKD | | 101,521,400 | 本月底法定/註冊股本總額： HKD 101,521,400 第 1 頁 共 10 頁 v 1.1.1 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年10月31日 狀態: 新提交 致：香 ...

Core Insights - The article highlights the rapid growth and increasing market acceptance of high-end MPVs in China, driven by their comfort, spaciousness, and suitability for various travel needs [2][14] - The domestic MPV market has shown significant growth, with a total of 878,597 units sold in the first three quarters of 2025, representing a year-on-year increase of 26.3% [3][14] Market Overview - In the first three quarters of 2025, the cumulative sales of domestic MPVs reached 879,000 units, with a year-on-year growth of 26.3%, and exports accounted for 57,000 units, up 16.7% [2][3] - The top 15 MPV models accounted for 78.5% of the market share, indicating a trend towards market concentration [3][4] Top Models Performance - The top-selling model, SAIC-GM Wuling Hongguang, achieved sales of 98,820 units, a staggering increase of 163.6% year-on-year [4][5] - Buick GL8 ranked second with sales of 88,239 units, reflecting a growth of 104.4% [4][6] - BYD's Tengshi D9, ranked third, sold 81,760 units, marking a modest increase of 2.9% [4][7] - The newly launched BYD Xia, positioned below Tengshi D9, sold 61,834 units, showcasing strong market entry [4][8] Emerging Trends - The article notes a shift towards hybrid and electric models, with the Buick GL8's PHEV sales surpassing those of traditional fuel vehicles, indicating a successful transition to new energy vehicles [6][7] - The increasing popularity of high-end MPVs is attributed to changing consumer preferences, particularly among younger families seeking comfort and versatility [14] Competitive Landscape - The competitive landscape is characterized by a mix of established brands and new entrants, with companies like GAC Toyota and Lantu Automotive also making significant strides in the MPV segment [9][10][11] - BYD is expanding its product lineup with models like the M9, aimed at international markets, further enhancing its competitive position [12] Future Outlook - The article concludes that the high-end MPV market is poised for rapid growth, driven by consumer demand for quality travel experiences and the increasing availability of new energy models [14]

Core Viewpoint - The integration of artificial intelligence (AI) into manufacturing is revitalizing the industrial landscape in Liuzhou, Guangxi, with significant advancements in various sectors, including robotics and smart vehicles [1][4]. Group 1: AI Integration in Manufacturing - Liuzhou's manufacturing sector is experiencing a transformation through AI, with the first industrial humanoid robot and low-speed autonomous vehicles being tested [1][2]. - The production value of AI products in Liuzhou reached 8.87 billion yuan from January to July, with a 23.7% year-on-year increase in smart terminals and robots [3]. - Companies like Guangxi Liugong Machinery and Zhituo Technology are leveraging AI for precision tasks, enhancing efficiency in production and maintenance processes [2][3]. Group 2: Traditional Industries Transformation - Traditional industries in Liuzhou, such as automotive and steel, are undergoing digital transformation, with 435 small and medium-sized enterprises adopting AI technologies [4][7]. - The Guangxi Liugong Group's smart factory can produce an excavator in just 13 minutes, showcasing the efficiency brought by AI [7]. - The local steel industry is implementing AI platforms to optimize production costs and energy consumption [7]. Group 3: Government Support and Policy Framework - The local government has established a dedicated task force to promote AI development, implementing various policies to support the growth of AI and manufacturing sectors [8][10]. - Liuzhou aims to achieve a breakthrough of 50 billion yuan in AI-related industries by 2027, with a focus on integrating AI into manufacturing processes [8][10]. - The city has created over 100 demonstration application scenarios for emerging industries, facilitating market access for new products [10]. Group 4: Collaborative Efforts and Future Prospects - Liuzhou is fostering collaboration with national institutions and enterprises to enhance technological advancements in AI [9]. - The partnership between SAIC-GM-Wuling and Huawei aims to develop smart vehicles, indicating a shift towards intelligent and connected automotive solutions [5][6]. - The establishment of a comprehensive AI ecosystem encompassing various sectors is underway, with a focus on smart manufacturing and supply chain optimization [6].

Core Insights - The report indicates a significant shift in the automotive brand landscape, highlighting intense evolution in the passenger car market and stable consolidation in the commercial vehicle market [1][5] Passenger Car Market - Domestic brands occupy seven out of the top ten positions in brand influence, with BYD leading at 784.54 points, followed by Tesla at 780.22 points, showcasing strong local brand performance [2][5] - The new player, AITO, made a remarkable entry into the top five with a score of 767.19, reflecting explosive growth in online presence [2] - Traditional joint venture brands are facing challenges as they maintain sales but experience high complaint volumes, indicating a decline in user satisfaction compared to local brands [2][5] Commercial Vehicle Market - The commercial vehicle sector shows a clearer competitive landscape, with China FAW leading the heavy truck market at 728.99 points, followed closely by China National Heavy Duty Truck and Dongfeng [3] - In the pickup segment, Great Wall maintains a strong lead with 699.74 points, while Changan and SAIC Maxus follow [3] - The light truck market is highly competitive, with Changan leading at 718.38 points, and JAC and Beiqi Foton closely trailing [3] Brand Influence and User Engagement - The report emphasizes the importance of synergy between media presence and user reputation in enhancing brand influence, particularly in the passenger car sector [4] - AITO's rise exemplifies the effective combination of technology, ecosystem, and user satisfaction, supported by a low complaint volume [4] - In the commercial vehicle sector, brand influence is built on reliability and long-term professional credibility, with China FAW showcasing a unique advantage in policy-driven markets [4] Industry Evolution - The third-quarter index indicates a transition in the Chinese automotive industry from scale competition to lifecycle value competition, driven by electrification and intelligence [5] - The focus on brand building has shifted from mere volume growth to a comprehensive competitive strength that includes communication breadth, user reputation, technical capability, and market performance [5]