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告的內 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 不對因本公告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。 DONGFENG MOTOR GROUP COMPANY LIMITED* 東風汽車集團股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：489） 有關於全國銀行間債券市場發行之債券的公告 本 公 司 於 中 華 人 民 共 和 國（「中 國」）全 國 銀 行 間 債 券 市 場 發 行 若 干 債 務 工 具。 根 據 中 國 相 關 法 律 法 規， 於 該 等 債 務 工 具 存 續 期 間， 本 公 司 須 於 相 關 季 度 結 束 後 一 個 月 內 刊 發 未 經 審 計 季 度 報 告（「 未經審 計季度報告」）。截 至 二零二五年九月三十日 止 九個月 之未經審計季 度報告，載 列 本 集 團 及 本 公 司（不 包 括 其 附 屬 公 司）作 為 母 公 司 截 至 二零二五年九月三十日 止 九個 ...

Core Viewpoint - Dongfeng Group plans to sell 50% stake in Dongben Engine to GAC Honda for approximately RMB 1.172 billion (around HKD 1.29 billion) as part of its strategy to optimize fuel vehicle asset structure and accelerate transition to the new energy sector [1] Group 1 - The sale is scheduled for October 30, 2025 [1] - The decision is influenced by the increasingly competitive landscape of the Chinese automotive industry [1] - The transaction aligns with the company's strategic planning for future growth [1]

Core Viewpoint - Dongfeng Group plans to sell a 50% stake in Dongben Engine to GAC Honda for approximately RMB 1.172 billion (around HKD 1.29 billion) by October 30, 2025, as part of its strategy to optimize its fuel vehicle asset structure and accelerate its transition to the new energy sector [1] Group 1 - The sale is a response to the increasingly competitive landscape of the Chinese automotive industry [1] - The transaction aligns with the company's strategic planning to adjust its fuel vehicle assets [1] - The divestment will facilitate the company's shift towards new energy vehicles [1]

Group 1 - The core point of the article is that Dongfeng Group has agreed to sell a 50% stake in Dongben Engine to GAC Honda for approximately RMB 1.172 billion (around HKD 1.29 billion) as part of its strategy to optimize its fuel vehicle asset structure and accelerate its transition to the new energy sector [1][1][1] Group 2 - The transaction will be conducted through a public bidding process at the Guangdong United Property Rights Exchange, which is a public asset and equity trading platform in China [1] - The decision to sell is influenced by the increasingly competitive landscape of the Chinese automotive industry [1] - The sale aligns with the company's strategic planning to enhance its focus on new energy vehicles [1]

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告的內 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 不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致之 任 何 損 失 承 擔 任 何 責 任。 DONGFENG MOTOR GROUP COMPANY LIMITED* 東風汽車集團股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：489） 關連交易 出售東本發動機50%股 權 出售東本發動機50%股 權 董 事 會 欣 然 宣 佈，於 二 零 二 五 年 十 月 三 十 日（交 易 時 段 後），本 公 司 與 廣汽本田訂立 產權交易合同，據 此，本 公 司 同 意 出 售 且 廣 汽 本 田 同 意 收購東本發動機50%股權，對價為約人民幣11.72億元（約合港幣12.90億元）。 該 交 易 通 過 廣 東 聯 合 產 權 交 易 中 心（為 中 國 一 個 公 開 的 資 產 及 權 益 交 易 平 台）以 公 開 掛 牌 招 標 程 式 進 行。 上市規則涵義 於 本 公 告 日 期，本 田 及 其 ...

Core Insights - The 2025 Hubei Top 100 Enterprises list has been released, with the entry threshold raised from 8.124 billion to 8.615 billion yuan, an increase of 6% [1] - Total operating revenue reached 42,132 billion yuan, a year-on-year increase of 1.2% (509 billion yuan), with 70 companies reporting revenue growth, and 35 of them exceeding 10% growth [1] - Total profit decreased by 12% to 1,158 billion yuan, with 53 companies reporting profit growth and 11 companies incurring losses [1] - Total assets surpassed 10 trillion yuan for the first time, growing by 12.1% to 10,562.9 billion yuan, with an increase of 3 "billion-level" enterprises to 24 and 5 "hundred-level" enterprises to 58 [1] - The top ten companies are all state-owned or state-controlled, accounting for 56% of the total assets of the top 100 enterprises [1] Financial Performance - The total tax contribution of the top 100 enterprises reached 139.7 billion yuan, a year-on-year decrease of 6%, with 31 companies paying over 1 billion yuan in taxes [1] - The total number of employees decreased by 60,000 to 1.07 million [1] - R&D expenditure from 89 companies totaled 75 billion yuan [1] Company Distribution - There are 61 state-owned or state-controlled enterprises, accounting for 72.0% of total revenue (30,353 billion yuan), 66.2% of total profit (767 billion yuan), and 77.7% of total tax (1,086 billion yuan) [3] - 39 private enterprises are included, with two in the top ten [3] Industry Breakdown - The service and manufacturing sectors each have 41 companies, while the construction sector has 17 and the mining sector has 1 [3] - Revenue from these sectors is 14,888 billion yuan (35.3%), 16,417 billion yuan (39%), 10,630 billion yuan (25.2%), and 197 billion yuan (0.5%) respectively [3] Geographic Distribution - Wuhan leads with 69 companies, an increase of 2 from the previous year, followed by Huangshi with 9, Yichang with 8, and Jingmen with 4 [3] Notable Companies - Nine companies have entered the "billion revenue club," maintaining the same number as last year, with 卓尔智联 (Zall Group) being the largest private enterprise in Hubei [5] - Dongfeng Motor achieved revenue of 369.179 billion yuan, a decrease of 10.4%, and ranked second overall [7] - The top ten companies by revenue include China Construction Third Engineering Bureau, Dongfeng Motor Group, Zall Group, and others [8][9]

Investment Rating - The report maintains a "Positive" investment rating for the heavy truck industry [3] Core Insights - The heavy truck industry is experiencing a significant recovery in demand, driven by policies encouraging vehicle replacement and infrastructure investments [9][12][22] - The sales of natural gas heavy trucks and new energy heavy trucks are showing strong growth, while exports have seen a decline but are expected to improve in the long term [32][50][75] Summary by Sections Overall Performance - In September 2025, wholesale sales of heavy trucks reached 100,000 units, a year-on-year increase of 73.3% and a month-on-month increase of 9.1% [9] - The number of registered heavy trucks was 83,000 units, up 92.0% year-on-year and 24.9% month-on-month [9] - Heavy truck exports totaled 32,000 units, down 22.7% year-on-year but up 8.3% month-on-month [9] - Inventory levels are decreasing, indicating a trend towards inventory destocking [13] Natural Gas Heavy Trucks - In September 2025, the sales of natural gas heavy trucks reached 23,000 units, marking a year-on-year increase of 148.8% and a month-on-month increase of 40.4% [33] - The penetration rate of natural gas heavy trucks was 28.1%, up 6.4 percentage points year-on-year [33] New Energy Heavy Trucks - New energy heavy truck sales reached 23,000 units in September 2025, representing a year-on-year increase of 209.5% and a month-on-month increase of 33.6% [50] - The penetration rate for new energy heavy trucks was 28.2%, an increase of 10.7 percentage points year-on-year [50] Export Trends - Heavy truck exports in September 2025 were 32,000 units, down 23% year-on-year but up 8.3% month-on-month [75] - The export distribution by continent showed significant growth in Africa and Asia, while Europe experienced a decline [78]

Core Viewpoint - Dongfeng Motor Corporation is undergoing leadership changes in its R&D Institute to enhance its focus on technological innovation and sustainable development [2][3]. Group 1: Leadership Changes - Tang Jing is no longer the Party Secretary, Party Committee Member, Vice President, and Union Chairman of the R&D Institute, with a new appointment pending [2]. - Yang Yanding has been appointed as the Party Secretary of the R&D Institute [2]. - Zhan Xin has been appointed as the Vice President of the R&D Institute [2]. Group 2: Strategic Focus - The new leadership team is urged to elevate their political stance and strengthen their mission commitment to accelerate transformation and development [3]. - Emphasis is placed on focusing on technological innovation to build a competitive edge and sustainable platforms [3]. - There is a call for deepening Party leadership and enhancing work style to solidify the foundation for continuous development [3].

Core Viewpoint - The leadership team of Dongfeng Motor Group's R&D Institute has undergone significant adjustments, emphasizing the need for political awareness, mission responsibility, and a focus on technological innovation for sustainable competitive advantage [1]. Group 1: Leadership Changes - Tang Jing has been removed from his positions as Party Secretary, Party Committee Member, Vice President, and Labor Union Chairman of the R&D Institute, with another appointment pending [1]. - Yang Yanding has been appointed as the new Party Secretary of the R&D Institute [1]. - Zhan Xin has been appointed as the Vice President of the R&D Institute [1]. Group 2: Strategic Focus - The new leadership is urged to enhance political positioning and strengthen mission commitment while accelerating transformation and development [1]. - There is a strong emphasis on focusing on technological innovation to build a technological high ground and create sustainable competitive platforms [1]. - The leadership is also encouraged to deepen the role of Party building and strengthen work style construction to solidify the foundation for sustainable development [1].

Core Viewpoint - Dongfeng Motor Corporation's R&D Institute has announced leadership changes, indicating a strategic shift within the organization [1] Group 1: Leadership Changes - Tang Jing is no longer serving as the Party Secretary, Party Committee Member, Vice President, and Labor Union Chairman of the R&D Institute, with another appointment pending [1] - Yang Yanding has been appointed as the Party Secretary of the R&D Institute [1] - Zhan Xin has been appointed as the Vice President of the R&D Institute [1]