Core Insights - The automotive industry in China is experiencing a trend of "anti-involution," with 17 companies committing to reduce supplier payment terms to within 60 days, aimed at alleviating financial pressure on parts manufacturers [1] - Despite a reduction in total accounts payable and notes to 10,209.03 billion yuan, the average turnover days increased to 192.46 days, indicating a divergence between total amount reduction and extended payment terms [1][2] - BYD, SAIC Motor, and Geely are the top three companies in terms of accounts payable, each exceeding 100 billion yuan [1] Accounts Payable Changes - 14 companies reported a decrease in accounts payable compared to the end of last year, with Changan Automobile, SAIC Motor, and Geely showing the largest reductions of 240.85 billion yuan, 105.91 billion yuan, and 81.24 billion yuan respectively [2] - NIO, Xpeng Motors, and Leap Motor saw increases in accounts payable, with Xpeng Motors rising by 76.07 billion yuan, a 32.96% increase [4] Turnover Days Analysis - Only six companies improved their accounts payable turnover days, with Xpeng Motors achieving the most significant reduction of approximately 63 days, bringing it down to 170 days [5][6] - Companies like SAIC Motor and Changan Automobile also saw improvements, while others like BYD and Ideal Auto experienced increases in turnover days [8] Cash Flow and Payment Terms - Ideal Auto reported a significant increase in cash used in operating activities but a worsening free cash flow, attributed to the adjustment of supplier payment terms to 60 days [9] - The adjustment of payment terms is complex and requires coordination across various departments within companies, posing challenges for timely payments [10][11] Cash Reserves and Coverage - Among 18 companies, only Jiangling Motors and Haima Automobile have cash reserves sufficient to cover their accounts payable [13] - Companies like BYD, Geely, and NIO have cash reserves that fall short of their accounts payable, indicating pressure on short-term liquidity [13]

Group 1 - The core point of the article is the establishment of a new company, Kexin Power Battery System (Hubei) Co., Ltd., which is fully owned by Dongfeng Hongtai Holding Group Co., Ltd., a subsidiary of Dongfeng Motor Group Co., Ltd. [1] - The registered capital of Kexin Power Battery System is 200 million yuan, indicating a significant investment in the battery manufacturing sector [1] - The business scope of the new company includes battery manufacturing, battery sales, production of battery accessories, and manufacturing of new energy power equipment, highlighting its focus on the growing renewable energy market [1]

Group 1 - The core point of the article indicates that Dongfeng Group's automobile sales decreased by 5% in August [1] Group 2 - The decline in sales may reflect broader trends in the automotive industry, suggesting potential challenges ahead for manufacturers [1]

格隆汇9月8日丨东风集团股份(00489.HK)公告，公司2025年1-8月累计汽车销量为1,138,573辆，同比下 降约5.0%。其中，新能源汽车销量为304,770辆，同比增长约38.2%。公司母公司东风汽车集团有限公司 1-8月累计汽车销量为1,472,385辆，同比下降约7.0%。公司附属公司东风汽车股份有限公司(A股证券代 码600006，以下称"股份公司")1-8月累计汽车销量为84,713辆，同比下降约17.4%。 ...

Group 1 - The core point of the article is that Dongfeng Group's cumulative automobile sales for January to August 2025 have decreased by approximately 5.0% year-on-year, totaling 1,138,573 vehicles [1] - The sales of new energy vehicles for the same period reached 304,770 units, reflecting a significant year-on-year growth of approximately 38.2% [1] - Dongfeng Motor Group Co., Ltd., the parent company, reported a cumulative automobile sales of 1,472,385 units from January to August 2025, which is a decline of about 7.0% year-on-year [1] Group 2 - Dongfeng Motor Co., Ltd. (A-share stock code 600006) recorded a cumulative automobile sales of 84,713 units for the same period, showing a year-on-year decrease of approximately 17.4% [1]

Core Viewpoint - Dongfeng Group reported a decline in total vehicle sales for the first eight months of 2025, while showing significant growth in electric vehicle sales [1] Summary by Category Overall Sales Performance - Dongfeng Group's cumulative vehicle sales from January to August 2025 reached 1,138,573 units, representing a year-on-year decrease of approximately 5.0% [1] - The parent company, Dongfeng Motor Group Co., Ltd., recorded cumulative vehicle sales of 1,472,385 units during the same period, down about 7.0% year-on-year [1] Electric Vehicle Sales - The sales of new energy vehicles (NEVs) amounted to 304,770 units, reflecting a year-on-year increase of approximately 38.2% [1] Subsidiary Performance - Dongfeng Motor Co., Ltd. (A-share stock code 600006) reported cumulative vehicle sales of 84,713 units from January to August 2025, which is a year-on-year decline of about 17.4% [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） 自願公告 2025 年 8 月產銷快報 此乃東風汽車集團股份有限公司（以下稱「本公司」）作出的自願公告。 本公司 2025 年 1-8 月累計汽車銷量為 1,138,573 輛，同比下降約 5.0%。其中，新能源汽車銷量為 304,770 輛，同比增长約 38.2%。本 公司之母公司東風汽車集團有限公司 1-8 月累計汽車銷量為 1,472,385 輛，同比下降約 7.0%。本公司之附屬公司東風汽車股份有限公 司（A 股證券代碼 600006，以下稱「股份公司」）1-8 月累計汽車銷量為 84,713 輛，同比下降約 17.4%。 中國，武漢 二零二五年九月八日 於本公告日期，本公司的執行董事為楊青先生及 ...

就東風汽車集團股份有限公司的股份的交易披露 2025 年 9 月 8 日 執行人員接獲依據香港《公司收購及合併守則》規則 22 作出以下的證券交易的披露： | 交易方 | 日期 | | | 有關證券的說 | 交易性質 | 買入／賣 | 涉及的股份 | 已支付／已收取 | 已支付或已 | 已支付或已 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | 明 | | 出 | 總數 | 的總金額 | 收取的最高 | 收取的最低 | | | | | | | | | | | 價（H） | 價（L） | | CICC | 2025 | 年 9 | 月 5 | 其他類別的證 | 將因客戶主動發出且由客戶需求帶動的交易而 | 買入 | 352,000 | $3,099,958.2000 | $8.8067 | $8.8067 | | Financial | 日 | | | 券 (例如: 股 | 產生的自營交易持倉清結／平倉／解除。我確 | | | | | | | Trading | | | | 權互換) | 認，這已於最 ...

完 註： CICC Financial Trading Limited 是與要約人有關連的獲豁免自營買賣商。 2025 年 9 月 8 日 透過合併進行私有化 就東風汽車集團股份有限公司的股份的交易披露 執行人員接獲依據香港《公司收購及合併守則》規則 22 作出以下的證券交易的披露： | 交易方 | 日期 | | | 有關證券的說 | 產品說明 | 交易性質 | 與衍生工具有 | 到期日或清結 | | 參考價 | 已支付／已收取 | 交易後數額（包 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | 明 | | | 關的參照證券 | 日 | | | 的總金額 | 括與其訂有協議 | | | | | | | | | | 數目 | | | | | 或達成諒解的任 | | | | | | | | | | | | | | | 何人士的證券） | | | CICC | 2025 | 年 9 | 月 5 | 衍生工具 | 其他類別產品 | 清結衍生工具合約 | 352,000 ...

Group 1 - The 2025 Qilu Autumn Auto Show and the 52nd Qilu Automobile Exhibition opened on September 4 at the Shandong International Convention and Exhibition Center [1] - Dongfeng Zhuolian showcased five major self-owned brands and the joint venture brand Dongfeng Nissan at the auto show, inviting consumers to visit their booth [3] - Dongfeng Zhuolian, established at the end of 2021, focuses on automotive marketing and services, representing nine major brands under Dongfeng Motor Group [3] Group 2 - Dongfeng Zhuolian has 108 4S stores across 22 cities, with a focus on expanding into county markets to provide convenient services [7] - In the past eight months, Dongfeng Zhuolian's sales reached 37,000 units, achieving over 70% sales growth despite intense competition [7] - The company believes that the future of the automotive industry will be led by smart technology and new energy, with a return to product and value-oriented market dynamics [7] Group 3 - Shandong is a key market for Dongfeng Zhuolian, with over 15 stores in Jinan, and plans to expand services such as certified used cars and new media marketing [9] - The Qilu Auto Show is recognized as the longest-running and most comprehensive auto show in Shandong, emphasizing direct consumer engagement and transparency [12] - Dongfeng Zhuolian aims to leverage the auto show to deliver quality products to consumers across Shandong [12]