Core Insights - Lightyear Zhihang and Chery Commercial Vehicles have established a strategic partnership for unmanned logistics, aiming to develop mass-production level L4 logistics vehicles [1] - The first unmanned logistics vehicle jointly developed by the two companies has already been deployed in cities such as Suzhou, Jinhua, and Wuhu, with plans for nationwide and global expansion [1] Company Collaboration - The collaboration focuses on promoting the large-scale application of unmanned logistics vehicles in urban delivery across various scenarios [1] - The strategic partnership signifies a significant step towards innovation in the logistics industry, leveraging advanced technology for efficiency [1] Market Expansion - The initial deployment of the unmanned logistics vehicle is part of a broader strategy to penetrate key urban distribution areas in China and eventually expand to global markets [1] - This initiative reflects the growing trend of automation in logistics, which is expected to reshape the industry landscape [1]

Core Viewpoint - The South African automotive market, traditionally dominated by Western brands, is undergoing a significant transformation with the rapid entry and expansion of Chinese automotive companies, which are leveraging a comprehensive strategy that includes product diversification, technological innovation, and local production [6][8][12]. Group 1: Market Dynamics - The South African automotive market, previously led by brands like Toyota and Volkswagen, is now seeing a shift as Chinese brands such as Chery, BYD, and Great Wall Motors establish a strong presence [6][10]. - Chinese automakers are not solely relying on price competition; they are focusing on product layout, technology routes, channel development, and local production to gain market share [6][8]. - By 2025, the active Chinese automotive brands in South Africa will reach 16, accounting for one-third of all brands available, with a significant proportion of new energy vehicles [16]. Group 2: Key Players and Strategies - Chery's return to South Africa in 2022 marked a pivotal moment, with its models quickly gaining traction, including the Omoda and Jaecoo brands targeting younger consumers [10][11]. - BYD has adopted a strategy of introducing a full range of electric vehicles, with models like the Dolphin and Sealion 6 gaining popularity due to their affordability and features [14][16]. - Great Wall Motors is focusing on the SUV and pickup segments, achieving notable sales figures and establishing itself as a key player among Chinese brands [12][14]. Group 3: Challenges and Responses - The influx of Chinese brands has raised concerns about market saturation and brand dilution, prompting calls for a more strategic approach to avoid internal competition [18][20]. - The South African government is considering measures to support local manufacturing, which may include increasing tariffs on imported vehicles, potentially impacting the competitive edge of Chinese brands [20][22]. - In response, leading Chinese automakers are shifting towards local production and investment in infrastructure, with plans for CKD (Completely Knocked Down) assembly plants and extensive dealer networks [22][24]. Group 4: Market Potential and Infrastructure - South Africa is viewed as a critical market due to its developed automotive industry, with an annual production exceeding 500,000 vehicles and significant consumer potential [26][30]. - The country's strategic geographical location, coupled with modern infrastructure, positions it as a hub for automotive exports across Africa and beyond [28][30]. - The establishment of a competitive local supply chain for automotive parts enhances the viability of South Africa as a manufacturing base for electric vehicles [30].

Core Insights - The Chinese automotive industry has achieved significant breakthroughs through continuous technological innovation and substantial R&D investments, with Chery Group leading the way by investing over 100 billion yuan in R&D [1] - The launch of the Zongheng G700, positioned as a luxury off-road SUV, aims to redefine the luxury off-road market and compete directly with models like Tank 500 and Leopard 8 [1][13] Off-Road Capabilities - The Zongheng G700 features advanced off-road configurations, including three locking differentials and a ground clearance of up to 320mm, significantly outperforming competitors like Tank 500 [3] - It is designed to handle extreme conditions with a water fording capability of 970mm, surpassing the Tank 500's 800mm and Leopard 8's 890mm, and is the only model among them with amphibious attributes [5][6] Luxury Experience - The interior design of the Zongheng G700 is inspired by Eastern aesthetics, featuring high-quality Nappa leather seats with extensive comfort features, including massage and heating functions [7] - The vehicle is equipped with a sophisticated "four-screen" setup, providing a premium multimedia experience, and a high-end audio system with 18 speakers, offering superior sound quality compared to competitors [9] Warranty and Brand Strength - Chery Group boasts 28 years of technological accumulation and a strong luxury gene from its collaboration with Jaguar Land Rover, providing a lifetime warranty for the Zongheng G700, which reflects confidence in product quality [11] - This warranty contrasts with the 5-year or 150,000 km warranty for Tank 500 and 6-year or 150,000 km for Leopard 8, emphasizing Chery's commitment to customer satisfaction [11] Market Positioning - The Zongheng G700 represents a new benchmark for luxury off-road vehicles in China, showcasing the industry's transition from scale to technology leadership, and aims to establish a strong presence in the global luxury off-road market [13]

Core Viewpoint - Chery Automobile faced a significant incident during an extreme testing event at Tianmen Mountain, which raised safety and environmental concerns among the public [1][2]. Group 1: Incident Details - On November 12, an extreme testing event for a Chery vehicle resulted in the vehicle losing control and crashing into a guardrail due to a safety device failure [1][2]. - The incident occurred on the "Heavenly Ladder," a steep staircase with 999 steps, leading to Tianmen Cave, with a vertical drop of 150 meters [1]. - Fortunately, there were no injuries reported, but the guardrail sustained damage [2]. Group 2: Company Response - Chery issued an apology, acknowledging the oversight in risk assessment and detail management during the planning and execution of the test [2]. - The company expressed regret for occupying public resources and committed to repairing the damage caused [2]. Group 3: Marketing and Safety Measures - The event was described as a cross-industry marketing activity aimed at showcasing the vehicle's performance through extreme challenges [2][3]. - The Tianmen Mountain scenic area management stated that adequate measures were taken to ensure visitor safety, with tourists kept at a safe distance from the testing area [3]. Group 4: Environmental Considerations - The scenic area management confirmed that the activity was reported to the relevant forestry authorities and would not impact the natural ecological environment [4]. - The activity was conducted on man-made structures, and the management emphasized that it was not a reckless decision [3][4]. Group 5: Financial Impact - The damage to the guardrail was estimated to be minor, around several tens of thousands of yuan, with repairs expected to restore the area within 8-10 days [6]. Group 6: Visitor Experience - The incident resulted in some visitors missing the opportunity to climb the "Heavenly Ladder," but the management offered free access to an alternative service to compensate for the inconvenience [7]. Group 7: Public Perception - The management acknowledged public concerns and criticisms regarding the event, emphasizing their commitment to safety and environmental protection [8].

Core Viewpoint - Chery Automobile issued an apology following an unexpected incident during an extreme challenge test at Tianmen Mountain, which has garnered significant public attention and concern [1][3][4]. Summary by Sections Incident Details - On November 12, 2025, during a challenge test of the Chery Fengyun X3L at Tianmen Mountain in Hunan, an unexpected incident occurred, leading to the interruption of the test [4]. - The direct cause of the incident was the accidental detachment of a safety harness's fixed point, which caused the protective rope to entangle the right rear wheel, resulting in the vehicle sliding and colliding with a guardrail, damaging it [4]. - Fortunately, there were no injuries reported, and the natural environment remained unharmed [4]. Company Response - Chery expressed sincere apologies to the Tianmen Mountain scenic area, visitors, partners, and all concerned parties [4]. - The company acknowledged shortcomings in risk assessment and detail management during the planning and execution of the test, particularly regarding public concerns about conducting such tests in scenic areas [4]. - Chery committed to repairing the damage caused to the Tianmen Mountain site and taking full responsibility for compensation and follow-up actions [4]. Public Reaction - The incident sparked widespread discussion online, leading to the term "Chery Apology" trending at the top of Weibo's hot search list [3]. - Concerns were raised by netizens regarding the appropriateness of holding such activities in a scenic area and the potential value of the damaged guardrails [5].

Core Points - A vehicle from Chery Automobile was involved in an incident during an extreme challenge test at Tianmen Mountain Scenic Area in Zhangjiajie, Hunan, resulting in damage to the guardrail [1][4] - The company issued an apology, acknowledging the incident was caused by a safety harness failure, which led to the vehicle sliding and hitting the guardrail [4] - Chery Automobile expressed regret for the public concern caused by conducting the test in a scenic area and committed to repairing the damage and taking responsibility for the incident [4] Summary by Sections - **Incident Description** - On November 12, a vehicle was involved in an accident during a challenge test at Tianmen Mountain, leading to damage to the guardrail [1][4] - The incident was triggered by the unexpected detachment of a safety harness, causing the vehicle to slide [4] - **Company Response** - Chery Automobile issued a formal apology to the scenic area, visitors, and partners, acknowledging the oversight in risk assessment and detail management during the test [4] - The company committed to repairing the damage and taking full responsibility for the incident [4] - **Public Reaction** - The incident sparked significant online discussion, highlighting concerns over the use of public resources for such tests [4]

Core Points - An incident occurred at Zhangjiajie Tianmen Mountain National Forest Park where a car failed to climb the "Heavenly Ladder" and damaged the guardrail during a promotional event for a car brand [2][3] - The "Heavenly Ladder" is approximately 300 meters long with a vertical drop of 150 meters and consists of 999 steps, serving as the main route to Tianmen Cave [3] - The event was organized by Chery Automobile, which rented the venue, and no injuries were reported [3][4] Company and Industry Insights - The promotional activity was part of a challenge for the Chery brand's Fengyun X3L model, which is set to launch on September 17, 2025 [4] - Previous similar events have taken place, including a successful climb by Land Rover in 2018, which set a record for the "99 Bends" route [3] - The Tianmen Mountain staff confirmed that the "Heavenly Ladder" would be closed to tourists on the 12th and 13th for this event, allowing access only via the mountain elevator [3][4]

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：香港交易及結算所有限公司 | | | | 公司名稱: | 澳洲成峰高教集團有限公司 | | | 呈交日期: | 2025年11月4日 | | | I. 法定/註冊股本變動 | 不適用 | | | 備註： | | | | 根據《澳洲公司法》，註冊公司概無設定法定股本，且並無就有關已發行股份採用「面值」的概念。 | | | FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 (A). 股份期權（根據發行人的股份期權計劃） | 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) | 01752 | 說明 | | | | | | | 股份期權計劃詳情 | 上月底結存的股份期權數 | 本月內變動 | ...

Group 1 - Chery's new flagship SUV, the Fengyun T11, was launched globally, focusing on safety, space, luxury, and intelligence [1] - The Fengyun T11 features a robust safety configuration, including a 2.0 Rock Solid body and 11 airbags, along with over 20 intelligent driving assistance functions [1] - The vehicle is equipped with the Falcon advanced driving assistance system, featuring 27 perception units and a computing power of 200 TOPS, supporting full-scene intelligent driving capabilities [1] Group 2 - The Fengyun T11's engine boasts a high thermal efficiency of 45.79% and a fuel-to-electric conversion rate of 3.71 kWh/L, marking a significant energy efficiency breakthrough [1] - Chery is positioning the Fengyun brand as a pioneer in its new energy strategy, focusing on hybrid electric vehicles [1] - The Zongheng G700, another new model, was launched as a luxury off-road SUV, featuring a 35.4-inch panoramic screen and Huawei's advanced driving assistance system [2] - The G700 aims to democratize luxury off-road experiences through advanced intelligent hybrid technology and innovative system capabilities [2]

TOP EDUCATION GROUP LTD 澳洲成峰高教集團有限公司 (Registered in New South Wales, Australia with limited liability) ( 於澳洲新南威爾士州註冊成立的有限公司 ) (ACN 098 139 176) (Stock code 股份代號: 1752) 28 October 2025 Dear non-registered shareholder(s), Top Education Group Ltd (the "Company") Notice of publication of 2025 Annual Report, Circular containing Notice of Annual General Meeting (the "Current Corporate Communication s") The Current Corporate Communications of the Company have been published in English and Chinese languages and are ...