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分內容 而產生或因依賴該等內容而引致的任何損失承擔任何責任。 GUANGZHOU AUTOMOBILE GROUP CO., LTD. 廣 州 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） （股份編號：2238） 二零二三年中期業績公告 重要提示 （一） 本公司董事會、監事會及董事、監事、高級管理人員保證本公告內容的真實、準 確、完整，不存在虛假記載、誤導性陳述或重大遺漏，並承擔個別和連帶的法律責 任。 （二） 本公司全體董事出席董事會會議，惟劉志軍非執行董事因其他公務授權委託曾慶洪 董事長代為出席董事會會議。 （三） 本公司半年度財務報告未經審計。本公司審計委員會已審閱本公司截至2023年6月 30日止六個月的未經審計中期業績，並同意提交董事會審核批准。 （四） 本公司負責人曾慶洪及總經理馮興亞、主管會計工作負責人王丹及會計機構負責人 （會計主管人員）鄭超聲明：保證本公告中財務報告的真實、準確、完整。 ...

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。 GUANGZHOU AUTOMOBILE GROUP CO., LTD. 廣 州 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） （股份編號：2238） 海外監管公告 二零二三年第一季度報告 本第一季度報告由廣州汽車集團股份有限公司（「本公司」）根據香港聯合交易所有限公司 證券上市規則第13.09及13.10B條發出。本報告載列的本公司及其附屬公司（「本集團」）第 一季度業績乃根據中國企業會計準則編製，未經審計。本報告之原文以中文撰寫。 重要內容提示 （一） 本公司董事會（「董事會」）、監事會及董事、監事、高級管理人員保證季度報告內容 的真實、準確、完整，不存在虛假記載、誤導性陳述或重大遺漏，並承擔個別和 連帶的法律責任。 （二） 本公司全體董事出席董事會審議季度報告。 （三） 本公司負責人、主管會計工作負責人及會計機構負責人（會計主管人員）保證季度報 ...

Production and Sales Performance - GAC Group's total vehicle production and sales in 2022 reached 2.4799 million and 2.4338 million units, respectively, representing year-on-year growth of 15.99% and 13.50%, outperforming the industry average by 12.6 and 11.4 percentage points[9] - The company's total vehicle sales in 2022 were 2.5 million units, with a significant portion being energy-efficient and new energy vehicles, which accounted for 900,000 units[21] - The company's automobile production and sales in 2022 were 2.4799 million and 2.4338 million units, up 15.99% and 13.50% year-on-year, outperforming the industry average by 12.6 and 11.4 percentage points[58] - Total vehicle sales for 2022 reached 2,433,801 units, a 13.50% year-on-year increase, with passenger vehicle sales growing by 13.61% to 2,433,201 units[136] - GAC Honda achieved production and sales of 767,826 and 741,808 vehicles, down 2.45% and 4.93% year-on-year, with revenue of RMB 115.113 billion, up 0.26% year-on-year[145] - GAC Toyota achieved production and sales of 1,009,265 and 1,005,000 vehicles, up 22.59% and 21.38% year-on-year, with revenue of RMB 163.534 billion, up 26.32% year-on-year[145] - GAC Motor achieved production and sales of 373,499 and 362,548 vehicles, up 15.55% and 11.83% year-on-year, with revenue of RMB 47.809 billion, down 9.60% year-on-year[145] - GAC Aion achieved production and sales of 273,504 and 271,156 vehicles, up 125.33% and 125.67% year-on-year, with revenue of RMB 38.703 billion, up 124.17% year-on-year[145] Financial Performance - GAC Group's consolidated sales revenue reached approximately RMB 514.605 billion, a year-on-year increase of 19.74%, with the company's own sales revenue growing 45.36% to RMB 110.006 billion[10] - Net profit attributable to shareholders of the parent company was RMB 7.983 billion, a year-on-year increase of 6.28%, with basic earnings per share of RMB 0.77[10] - The company's consolidated sales revenue reached 600 billion yuan in 2022, with energy-efficient and new energy vehicle sales contributing 120 billion yuan[21] - The company's net profit attributable to parent company shareholders was 8 billion yuan in 2022, with R&D investment reaching 7 billion yuan[21] - Sales revenue for the reporting period was approximately RMB 110.006 billion, a year-on-year increase of 45.36%, with net profit attributable to parent company shareholders at RMB 7.983 billion, up 6.28% year-on-year[99] - The company's total sales revenue reached approximately RMB 514.605 billion, a year-on-year increase of 19.74%[99] - The company's gross margin decreased by 1.10 percentage points year-on-year, mainly due to the impact of chip shortages and rising raw material prices[105] - Mainland China sales revenue was RMB 106.877 billion, with a gross margin of 3.87%, a year-on-year decrease of 18.53%[108] - Overseas sales revenue was RMB 3.129 billion, with a gross margin of 10.39%, a year-on-year decrease of 50.12%[108] - Total sales revenue was RMB 110.006 billion, with a gross margin of 4.05%, a year-on-year decrease of 21.36%[108] R&D and Innovation - The company invested approximately RMB 6.5 billion in R&D, filed 3,255 new patent applications (including 1,316 invention patents), and accumulated over 14,000 patent applications[12] - The company's self-developed "four-in-one" electric drive system has officially entered production, achieving deep integration of "dual motors + controller + two-speed reducer"[13] - The company's independently developed microcrystalline super iron phosphate battery effectively addresses issues such as slow charging rate, low battery capacity, and weak performance in traditional lithium iron phosphate batteries[13] - The company has leading independent R&D capabilities in new energy and intelligent connected vehicles, including the GEP3.0 pure electric vehicle platform, deep integration "three-in-one" electric drive system, and two-speed dual-motor "four-in-one" integrated electric drive system[47] - R&D expenditure totaled RMB 6.497 billion, accounting for 5.91% of total sales revenue, with a year-on-year increase of RMB 1.389 billion[116] New Energy Vehicles - GAC Group's self-owned brands achieved record sales of 633,700 units, with GAC Trumpchi selling 362,500 units (up 11.83% YoY) and GAC Aion selling 271,200 units (up 125.67% YoY)[10] - GAC Aion's second intelligent manufacturing center was completed and put into operation, with the GAC Intelligent Connected New Energy Vehicle Industrial Park securing investments totaling RMB 45.33 billion[11] - The company plans to achieve a production and sales target of 3.3 million vehicles by the end of the "14th Five-Year Plan" period, with new energy vehicles accounting for over 25% of total vehicle production and sales[15] - The company aims to achieve an annual revenue of RMB 1 trillion and a profit tax of RMB 100 billion by 2030, with a production and sales target exceeding 4.75 million vehicles[15] - GAC Aion's production and sales reached 273,500 and 271,200 vehicles in 2022, a YoY increase of 125.33% and 125.67%, significantly higher than the industry average for new energy passenger vehicles[66] - GAC Aion launched new models including AION Y Plus, AION LX Plus, and Hyper GT, with AION Y and AION S series each selling over 100,000 units, leading their respective market segments[68] - GAC Aion's Hyper GT, unveiled at the Guangzhou Auto Show, features advanced technologies including the AEP 3.0 pure electric platform and the Xingling architecture, along with innovative design elements like electric gull-wing doors and a three-stage electric rear wing[66] - New energy vehicle sales surged by 124.91% year-on-year to 271,449 units, with production increasing by 124.86% to 273,900 units[140] - Revenue from new energy vehicles amounted to RMB 36.666 billion, with subsidies totaling RMB 3.159 billion, accounting for 8.62% of revenue[141] - GAC Aion's new energy vehicle sales exceeded 270,000 units, a year-on-year increase of 125.67%[100] Market Share and Industry Position - The company's market share increased to approximately 9.1%, maintaining its position as the fourth-largest domestic automotive enterprise group[9] - The company's passenger vehicle production and sales in 2022 were 2.4794 million and 2.4332 million units, up 16.11% and 13.61% year-on-year, with a market share of approximately 10.33%[59] - The company's new energy passenger vehicle production and sales in 2022 were 315,900 and 309,500 units, up 118.33% and 116.69% year-on-year[59] - The company's self-owned brand production and sales in 2022 were 647,000 and 633,700 units, with new energy vehicle sales accounting for approximately 43%[60] - GAC Motor achieved annual production and sales of 373,500 and 362,500 vehicles, up 15.55% and 11.83% YoY respectively, despite a significant decline in the conventional energy vehicle market[61] - GAC Toyota's production and sales exceeded 1 million vehicles in 2022, a YoY increase of over 20%, marking a historic high for the company[71] - GAC Toyota sold 294,000 energy-efficient vehicles in 2022, a 60.6% YoY increase, while GAC Honda sold 121,000 energy-efficient vehicles, up 4.4% YoY[71] Capital and Investment - The company completed a total financing of RMB 20.86 billion in 2022, with GAC Aion's post-A-round valuation exceeding RMB 100 billion[14] - The company proposed a final cash dividend of RMB 1.8 per 10 shares (tax inclusive), bringing the total annual dividend payout to approximately RMB 2.516 billion, representing 31.52% of net profit attributable to shareholders[4] - The company issued nearly RMB 18 billion in ABS (Asset-Backed Securities) in 2022, with GAC Financial issuing RMB 15 billion and GAC Leasing issuing RMB 3 billion, significantly reducing comprehensive financing costs[98] - The company has invested RMB 10.9 billion in Yinpai Battery, with plans to build a 36GWh production line by 2025[89] - The company has established a 12GWh standard production capacity at Times GAC, achieving an output of approximately 18GWh in 2022[89] - The company has invested RMB 4.96 billion in GAC Energy to build a charging, swapping, and energy storage ecosystem[89] - The company has invested RMB 2.16 billion in Ruipai Power to enter the self-developed and self-produced electric drive phase[90] - The company has completed investments in 25 new projects, including Huada Semiconductor and Sunwoda EVB, focusing on power batteries, intelligent connectivity, and automotive chips[91] Corporate Governance and Strategy - The company plans to achieve a year-on-year growth of 10% in vehicle production and sales in 2023, maintaining a growth rate higher than the industry average[16] - The company established Youpai Energy Technology as the main entity for its energy sector, aiming to build a diversified energy ecosystem and create a new growth point for a RMB 100 billion-level industry[17] - The company is accelerating internationalization efforts, expanding overseas market layouts and increasing exports of self-branded products[17] - The company is advancing the spin-off and listing of GAC Aion and enhancing capital operation capabilities, focusing on strategic investments in upstream raw materials and chips in the new energy sector[18] - The company is promoting digital transformation across the entire industry chain, driving the upgrade of production and operation digitization[18] - The company aims to achieve annual production and sales of 3.65 million vehicles by the end of the 14th Five-Year Plan, with new energy vehicles accounting for over 25% of total production and sales[149] - The company plans to challenge a 10% year-on-year growth in vehicle sales for 2023, aiming to maintain growth above the industry average[152] - The company plans to launch over 10 new and facelifted models in 2023, including new energy MPVs and SUVs, and hybrid versions of existing models[152] - The company aims to achieve annual production and sales exceeding 4.75 million vehicles, with annual revenue of RMB 1 trillion and taxes and profits of RMB 100 billion by 2030[150] - The company plans to implement the "GLASS Green Plan" to achieve carbon neutrality across the product lifecycle by 2050, with a challenge to achieve it by 2045[150] Industry Trends and Challenges - In 2022, the domestic automobile production and sales were 27.021 million and 26.864 million units, respectively, with year-on-year growth of 3.4% and 2.1%[51] - Passenger vehicle production and sales in 2022 were 23.836 million and 23.563 million units, up 11.2% and 9.5% year-on-year, with SUV production and sales leading at 11.381 million and 11.187 million units, respectively[52] - Chinese brand passenger vehicle sales reached 11.766 million units, a 22.8% increase, accounting for 49.9% of total passenger vehicle sales[55] - Commercial vehicle production and sales in 2022 were 3.185 million and 3.300 million units, down 31.9% and 31.2% year-on-year[57] - The company expects the domestic automotive market to grow by around 3% in 2023, with new energy vehicle market penetration expected to exceed 30%[148] - Global chip supply shortages persist, particularly for high-performance chips like MCUs, posing significant supply chain risks for domestic automakers[156] - Battery-grade lithium carbonate prices remain high, exerting cost pressure on automakers despite a slight decrease from 2022 peaks[157] - The termination of new energy vehicle purchase subsidies in 2023 shifts the industry from policy-driven to market-driven, requiring companies to adjust product development and enhance competitiveness[159] Corporate Governance and Board Activities - The company held 21 board meetings and 15 specialized committee meetings in 2022, reflecting robust corporate governance practices[162] - The company established 8 new internal management systems and revised 50 existing ones, including the Data Security Management System, to enhance governance[162] - Shareholders holding 10% or more of voting shares can request an extraordinary general meeting, which must be convened within 2 months of the request[162] - Shareholders holding 3% or more of shares can propose agenda items for general meetings 10 days prior to the meeting[163] - The company held 1 annual general meeting, 2 extraordinary general meetings, and 1 class meeting for A-share and H-share shareholders in 2022[165] - The board consists of 11 members, including 4 independent directors with diverse professional backgrounds, ensuring balanced decision-making[167] - The board is responsible for key decisions, including annual financial budgets, medium-to-long-term development plans, and investment strategies[168] - The company's Board of Directors is responsible for supervising the preparation of annual financial statements, ensuring they reflect the true and fair financial performance and position of the company[172] - The Board of Directors has established various specialized committees, including the Strategy Committee, Audit Committee, and Compensation Committee, to oversee key areas such as long-term development strategies, financial audits, and executive compensation[183] - The company has implemented an Independent Director system to ensure independent perspectives and opinions are provided on major decisions, with independent directors fulfilling their duties without influence from controlling shareholders[179] - The Audit Committee, composed of three independent directors, held 7 meetings during the reporting period to review annual, interim, and quarterly reports, profit distribution, and internal control systems[183] - The company has adopted a Standard Code of Conduct for directors' securities transactions, and all directors confirmed compliance with this code during the 2022 fiscal year[177] - The Board of Directors has established and reviewed corporate governance policies, compliance manuals, and employee conduct guidelines to ensure adherence to legal and regulatory requirements[173] - The company has provided training to directors on corporate governance, director responsibilities, and operational management, with all directors meeting the professional training requirements under the listing rules[176] - The company has developed and reviewed plans for profit distribution, capital increase or reduction, and major acquisitions, ensuring compliance with legal and regulatory frameworks[170] - The company has established a risk management, compliance management, and internal control system, with the Board responsible for overseeing its implementation and effectiveness[170] - The company has submitted annual reports and audit arrangements to independent directors, who have communicated with auditors regarding audit-related issues[180] Human Resources and Diversity - The company's female employees accounted for 17.8% of the total workforce, with 17,792 female employees and 82,329 male employees as of December 31, 2022[189] - The company plans to add one or more female directors to the board by December 31, 2024, to achieve gender diversity[186] - The company's senior management compensation for 2022 ranged from RMB 1,000,001 to RMB 4,000,000, with 6 executives in the RMB 1,000,001-2,000,000 range and 6 in the RMB 3,000,001-4,000,000 range[196] - The company's board of directors consists of 6 members, with 3 being independent directors and 3 being employee representatives[192] - The company's nomination committee held 1 meeting in 2022 to review and propose recommendations on the appointment and removal of senior management[185] - The company's remuneration and assessment committee held 3 meetings in 2022 to review and propose recommendations on senior management compensation and stock option incentive plans[184] - The company's board of directors has a diversity policy that considers gender, age, education, race, professional experience, skills, and knowledge when appointing members[186] - The company's nomination committee is responsible for evaluating and selecting director candidates, considering the company's strategy and the benefits of board diversity[190] - The company's senior management is responsible for implementing the board's resolutions, managing daily operations, and proposing the appointment or dismissal of deputy managers and financial officers[195] - The company's board of directors has a nomination policy that requires the nomination committee to review the board's size and composition annually and propose changes to align with the company's strategy[190] Investor Relations and Communication - The company has established an "Investor Relations Management System" and an "Investor Complaint Handling Work System" to ensure effective communication with shareholders[199] - The company engages with investors through various channels including shareholder meetings, the SSE e-interaction platform, the company's official website investor relations section, investor open days, investor hotlines, email, on-site research visits, earnings briefings, roadshows, and reverse roadshows[199] - The company's external auditor is PricewaterhouseCoopers, and the auditor's fees are disclosed in the "Important Matters" section of the report under "Appointment and Dismissal of Accounting Firms"[198]

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分內容 而產生或因依賴該等內容而引致的任何損失承擔任何責任。 GUANGZHOU AUTOMOBILE GROUP CO., LTD. 廣 州 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） （股份編號：2238） 二零二二年年度業績公告 董事會欣然宣佈，本集團截至二零二二年十二月三十一日止年度的經審核綜合業績及截 至二零二一年十二月三十一日止的比較數字。本業績已經由本公司審核委員會及董事會 審閱。 ...

Financial Performance - Revenue for the third quarter reached RMB 31.53 billion, representing a 51.58% increase year-on-year[3] - Net profit attributable to shareholders increased by 144.07% to RMB 2.31 billion for the third quarter[3] - The basic earnings per share rose by 155.56% to RMB 0.23 for the third quarter[3] - Total revenue for the first three quarters of 2022 reached RMB 80.37 billion, a 44.8% increase from RMB 55.51 billion in the same period of 2021[20] - Operating profit for the first three quarters of 2022 was RMB 7.84 billion, up 50.7% from RMB 5.19 billion in the first three quarters of 2021[21] - Net profit attributable to shareholders of the parent company for the first three quarters of 2022 was RMB 8.06 billion, compared to RMB 5.28 billion in the same period of 2021, representing a 52.5% increase[21] - The total comprehensive income for the first three quarters of 2022 was RMB 7.85 billion, compared to RMB 4.99 billion in the same period of 2021, indicating a 57.5% increase[21] - Net profit attributable to shareholders increased by 52.59%, primarily due to the growth in sales and operating revenue, along with substantial increases in investment income from joint ventures and associates[31] - Basic earnings per share for the first three quarters of 2022 were RMB 0.78, compared to RMB 0.51 in the same period of 2021, reflecting a 52.9% increase[21] Asset and Liability Management - Total assets increased by 12.50% to RMB 173.47 billion compared to the end of the previous year[2] - Current liabilities reached 60,108,381,264 RMB, up from 48,806,258,545 RMB in the previous year[17] - Non-current liabilities decreased to 9,458,913,492 RMB from 12,795,545,116 RMB year-over-year[18] - The total liabilities of the company were 69,567,294,756 RMB, compared to 61,601,803,661 RMB in the previous year[18] - The company's equity attributable to shareholders increased to RMB 103.91 billion as of September 30, 2022, from RMB 92.59 billion at the end of 2021, reflecting an increase of 12.5%[19] Cash Flow and Investment - Net cash flow from operating activities showed a significant improvement, with a 72.56% increase year-to-date, totaling RMB -2.01 billion[3] - Operating cash flow for the first three quarters of 2022 was -2,005,511,838 RMB, an improvement of 72.56% compared to -7,309,661,191 RMB in the same period of 2021[22] - Cash inflow from investment activities for the first three quarters of 2022 was 16,444,987,607 RMB, compared to 15,423,451,597 RMB in the same period of 2021[23] - Cash inflow from financing activities totaled 23,036,600,865 RMB in the first three quarters of 2022, significantly up from 9,807,433,618 RMB in 2021[24] - The net increase in cash and cash equivalents for the first three quarters of 2022 was 10,969,942,656 RMB, compared to a decrease of 4,624,296,483 RMB in 2021[24] Sales and Market Performance - Sales of self-owned brand vehicles significantly increased, with "Aion" new energy vehicle sales exceeding 180,000 units, a year-on-year growth of 132.09%[6] - Operating revenue increased by 45.10%, driven by a significant rise in sales of self-branded vehicles, particularly the "Aion" new energy vehicles, which saw cumulative sales exceed 180,000 units, a growth of 132.09% year-on-year[31] Research and Development - Research and development expenses for the first three quarters of 2022 were RMB 947.20 million, up 24.5% from RMB 760.74 million in the same period of 2021[20] - The company plans to continue expanding its market presence and investing in new technologies to enhance product offerings and drive future growth[31] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 108,639[8] - The largest shareholder, Guangzhou Automobile Industry Group Co., Ltd., holds 52.64% of the shares[8] - Guangzhou Automobile Group Co., Ltd. holds 5,508,160,069 shares, accounting for approximately 52.64% of the total share capital[12] Governance and Leadership - The company implemented new accounting standards starting in 2022, affecting the financial statements from the beginning of the year[50] - The board of directors includes both executive and non-executive members, ensuring diverse oversight[50] - The chairman of the board is Zeng Qinghong, indicating strong leadership presence[50] - The executive directors are Zeng Qinghong and Feng Xingya, responsible for strategic decisions[50] - The independent non-executive directors include Zhao Fuquan, Xiao Shengfang, Wang Keqin, and Song Tiebo, enhancing governance[50] - The company is committed to transparency in its financial reporting practices[50]

Financial Performance - Guangzhou Automobile Group reported a total vehicle sales of 1,149,900 units, representing a year-on-year increase of 12.02%[9]. - The company's total revenue reached approximately RMB 242.782 billion, an increase of about 18.85% compared to the same period last year[8]. - Net profit attributable to shareholders was approximately RMB 6.074 billion, reflecting a year-on-year growth of 40.05%[9]. - The basic earnings per share increased to approximately RMB 0.59, up by 40.48% year-on-year[8]. - The total revenue for the first half of 2022 was RMB 48.689 billion, compared to RMB 24.278 billion in the same period of 2021, indicating a substantial growth[20]. - Net profit attributable to shareholders for the first half of 2022 was RMB 6.074 billion, reflecting a 40.05% increase from RMB 4.84 billion in the first half of 2021[20]. - The company's market share in the domestic market increased to 9.54%, ranking fourth in the industry[54]. - The company's total sales revenue for the first half of 2022 reached RMB 48,688,649 thousand, a significant increase from RMB 34,571,754 thousand in the same period of 2021, representing a growth of approximately 40.8%[137]. Sales and Production - GAC Aion's sales exceeded 100,000 units, marking a significant year-on-year growth of 133.9%[8]. - Sales of energy-saving and new energy vehicles surged to 332,900 units, marking a significant 91.08% increase year-over-year[20]. - In the first half of 2022, the company achieved automobile production and sales of 1.1517 million and 1.1499 million units, respectively, representing year-on-year growth of 15% and 12%, significantly outperforming the industry by nearly 19 percentage points[54]. - GAC Aion achieved production and sales of 99,700 units and 100,300 units, respectively, in the first half of 2022, with year-on-year growth of 134.51% and 133.88%[58]. - GAC Toyota's sales exceeded 500,000 units in the first half of 2022, with a year-on-year growth of nearly 20%, achieving a historical high market share of nearly 5% in the domestic passenger car market[63]. Research and Development - The company filed 564 new patent applications in the first half of the year, including 262 invention patents, bringing the total to over 11,000 patents[9]. - GAC introduced a breakthrough composite battery technology, enhancing energy density and charging capabilities[9]. - The company is focusing on the development of core technologies in the ICV (Intelligent Connected Vehicle) and EV (Electric Vehicle) sectors, enhancing its R&D capabilities[16]. - Research and development investment for the first half of 2022 amounted to RMB 2.597 billion, which is a 25.97% increase compared to the same period in 2021[20]. - The company has established a global R&D network and integrated innovation platforms to enhance its research and development capabilities in electric vehicles and intelligent connected systems[40]. Strategic Initiatives - The company is advancing its "New Four Modernizations" strategy, focusing on technology transformation and innovation[12]. - GAC is establishing a comprehensive energy supply ecosystem, including a focus on battery recycling and smart charging solutions[12]. - The company plans to deepen strategic cooperation with partners like Huawei and Tencent to build a new ecosystem for the automotive industry[16]. - The company is committed to enhancing product competitiveness and optimizing product layout to focus resources on key models[14]. - The company is actively promoting mixed-ownership reform and has achieved breakthroughs in employee equity incentives at GAC Aion[13]. Investments and Financial Management - A new investment fund of RMB 1.5 billion has been established to accelerate the development of the new energy vehicle industry chain in Guangzhou[13]. - The company has established a comprehensive capital operation platform (A+H) to optimize financing structure and enhance financial support for its main business[41]. - The company reported a net cash inflow from financing activities of RMB 2,283 billion, significantly higher than RMB 141,885 thousand in the same period last year[143]. - The company completed approximately RMB 1 billion in Series A financing for "如祺出行" to accelerate the deployment of Robotaxi vehicles[73]. Dividends and Shareholder Returns - The board proposed an interim dividend of RMB 0.6 per 10 shares, totaling approximately RMB 628 million[8]. - The company plans to distribute a mid-term cash dividend of RMB 0.6 per 10 shares, approved by the board on August 30, 2022[94]. - The company declared dividends amounting to RMB (1,778,872) thousand during the reporting period[140]. Operational Challenges - The company is facing supply chain risks due to ongoing chip shortages, which may impact normal operations[114]. - Inventory increased by 17.01% compared to the previous period, primarily due to ongoing semiconductor supply shortages and high raw material prices[87]. - The logistics service sector effectively coordinated resources during the pandemic, ensuring the supply chain remained operational[70]. Employee and Management Changes - The company has completed the appointment of 8 professional managers through a combination of reappointment and public recruitment[13]. - The company appointed new senior management, including Wang Dan as Chief Accountant and Jiang Xiuyun as Deputy General Manager, effective June 20, 2022[128]. - The company has adopted a competitive salary policy to retain talent and ensure employee welfare[118].

Financial Performance - The total vehicle production and sales for the year were 2.1381 million and 2.1444 million units, respectively, representing year-on-year growth of 5.08% and 4.92%[9]. - The total sales revenue reached approximately RMB 429.755 billion, an increase of about 8.66% compared to the previous year, while the automotive sales revenue was approximately RMB 75.676 billion, up by 19.82%[10]. - The net profit attributable to shareholders was approximately RMB 7.511 billion, reflecting a year-on-year increase of about 25.94%[11]. - The consolidated sales revenue for the group was RMB 756.76 billion, representing an increase of 8.66% compared to the previous year[20]. - The net profit attributable to shareholders of the parent company was RMB 75.11 billion, with a profit margin of 25.94%[20]. - The total sales revenue of the group's vehicles increased by 4.92% year-on-year, with sales of self-owned brand new energy vehicles exceeding 101.80% year-on-year[80]. - The total gross profit was approximately RMB 3.90 billion, an increase of about RMB 1.60 billion, representing a growth of approximately 69.82% year-on-year[83]. - The gross profit margin increased by 1.51 percentage points year-on-year, attributed to overcoming challenges such as chip supply shortages and rising raw material prices[83]. Dividends and Shareholder Returns - The company proposed a final cash dividend of RMB 1.7 per 10 shares, in addition to an interim dividend of RMB 0.5 per 10 shares, totaling approximately RMB 2.3 billion in dividends for the year[10]. - The distributable reserves as of December 31, 2021, amounted to RMB 35,332,425 thousand, an increase from RMB 25,563,568 thousand in 2020[198]. Research and Development - The company invested over RMB 5.1 billion in R&D throughout the year, resulting in 2,580 new patent applications, including 1,108 invention patents, bringing the total to 10,620 applications, with 3,861 being invention applications[15]. - Research and development investment amounted to RMB 51.08 billion, reflecting a growth of 19.82% year-on-year[20]. - The company is investing heavily in R&D, with a budget increase of 20% for new technologies and innovations[162]. - The company is investing in core technologies such as self-developed battery cells and integrated controllers, and is accelerating digital transformation initiatives[120]. Sustainability and Carbon Neutrality - The company aims to achieve carbon neutrality across the entire product lifecycle by 2050, with a target to establish a zero-carbon factory by 2023[12]. - The company is actively exploring solutions for carbon emission management throughout the entire supply chain, from R&D to production and consumer usage[12]. - The company has launched the "GLASS Green Low-carbon for Achieving Sustainable Success" plan to support national carbon neutrality goals[12]. - The group aims to achieve carbon neutrality in product lifecycle by 2050 under the "GLASS Green Plan" initiative[44]. Market Expansion and Product Development - The company plans to increase the proportion of its self-owned brand new energy vehicles to 50% by 2025 and maintain that level by 2030[13]. - The company continues to enhance its product structure with new models such as the GAC Trumpchi Yingbao and AION series, improving product competitiveness[9]. - The company plans to launch over ten new and updated models in 2022, including the GAC Trumpchi EMKOO and AION LX Plus[119]. - The company aims to achieve a sales target of 3.5 million vehicles by the end of the 14th Five-Year Plan, with NEVs accounting for 50% of its self-owned brand sales[118]. - The group launched several new models, including AION Y, GAC Trumpchi Yingbao, AION S Plus, and Trumpchi GS4 PLUS, enhancing its product lineup[80]. Strategic Partnerships and Collaborations - The company is advancing strategic cooperation with Huawei to develop its first vehicle model, while also investing in several specialized companies in the intelligent connected new energy vehicle industry chain[15]. - The company is expanding its market presence through strategic partnerships and joint ventures with brands like Honda and Toyota[30]. - A strategic acquisition of a technology firm was completed, enhancing the company's capabilities in autonomous driving technology[167]. Corporate Governance - The company is committed to enhancing corporate governance and compliance, having held 22 board meetings and implemented 12 new management policies in the past year[126]. - The board of directors consists of 11 members, including 2 executive directors and 4 independent directors, ensuring over one-third of the board is independent[129]. - The company emphasizes the importance of corporate governance and has adopted policies to review and monitor compliance with legal and regulatory standards[134]. - The company has established a remuneration decision-making process for senior management, which is based on performance evaluations and company performance[173]. Challenges and Risks - The company faces supply chain risks due to ongoing global chip shortages, which could significantly impact production and operations if the situation persists[122]. - Rising raw material costs pose a significant challenge, with the company actively implementing cost control measures to mitigate profit uncertainties[122]. - The ongoing COVID-19 pandemic may disrupt logistics and consumer spending, potentially impacting the company's production and sales[124]. Employee and Operational Insights - The total number of employees in the company and its major subsidiaries is 96,989, with 273 in the parent company and 96,716 in major subsidiaries[191]. - The company conducted employee training for a total of 1,186,400 person-times during the reporting period[194]. - The company has not experienced any major production safety accidents during the reporting period, maintaining a stable safety production situation[196]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12%[162]. - Future outlook indicates a target to expand electric vehicle sales by 30% in the next fiscal year, aiming for a total of 300,000 units sold[169]. - The company plans to enhance its market presence in Southeast Asia, targeting a 20% market share by 2025[170].

Financial Performance - Revenue for the first quarter reached RMB 23,145,454,186, representing a year-on-year increase of 45.67%[3] - Net profit attributable to shareholders was RMB 3,008,640,272, an increase of 27.17% compared to the same period last year[3] - Basic earnings per share for the period were RMB 0.29, reflecting a 26.09% increase compared to the previous year[3] - Operating profit for Q1 2022 was RMB 2.85 billion, an increase of 25.2% compared to RMB 2.28 billion in Q1 2021[20] - Net profit for Q1 2022 was RMB 2.99 billion, up 27.4% from RMB 2.35 billion in Q1 2021[20] - The net profit excluding non-recurring gains and losses for Q1 2022 was ¥2,898,227,945, up 30.18% from the previous year[27] Cash Flow - The net cash flow from operating activities was negative RMB 3,202,935,526, reflecting a decrease of 39.00% year-on-year[3] - Cash flow from operating activities in Q1 2022 was negative RMB 3.20 billion, an improvement from negative RMB 5.25 billion in Q1 2021[21] - The company reported a decrease in cash and cash equivalents by CNY -3.26 billion in Q1 2022, an improvement from CNY -7.37 billion in Q1 2021[47] - The net cash flow from financing activities for Q1 2022 was ¥1,994,006,337, compared to ¥434,368,482 in Q1 2021[26] Assets and Liabilities - Total assets at the end of the reporting period were RMB 156,260,797,975, a slight increase of 1.34% from the end of the previous year[4] - Total liabilities decreased to RMB 55.53 billion from RMB 61.60 billion, a reduction of about 9.83%[17] - The company's total assets as of March 31, 2022, amount to 156,260,797,975 RMB, an increase from 154,196,563,667 RMB at the end of 2021[40] - Current liabilities total 46,235,669,009 RMB, a decrease from 48,806,258,545 RMB at the end of 2021[40] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 136,433[7] - The largest shareholder, Guangzhou Automobile Industry Group Co., Ltd., held 52.56% of the shares[7] - The total number of common shareholders at the end of the reporting period is 136,433, with 70.70% of A shares held by the largest shareholder, Guangzhou Automobile Industry Group Co., Ltd.[35] Investments and R&D - Research and development expenses for Q1 2022 were RMB 240.72 million, slightly down from RMB 260.31 million in Q1 2021[19] - The company plans to enhance its product offerings and invest in new technologies to drive future growth[19] - The company reported investment income of RMB 4.23 billion in Q1 2022, an increase from RMB 3.44 billion in Q1 2021[43] Inventory and Receivables - Accounts receivable increased to RMB 8.12 billion from RMB 7.22 billion, marking a rise of approximately 12.41%[14] - The company's inventory increased to RMB 8.88 billion from RMB 8.11 billion, representing a growth of about 9.52%[14]

Financial Performance - The company's total sales revenue reached approximately RMB 204.28 billion, an increase of about 27.91% compared to the same period last year[16]. - Net profit attributable to shareholders was approximately RMB 4.34 billion, representing an increase of about 87.10% year-on-year, with basic earnings per share of RMB 0.42, up 82.61%[16]. - The sales revenue for the reporting period was approximately RMB 34.57 billion, up approximately 34.83% year-on-year, with net profit attributable to shareholders reaching approximately RMB 4.34 billion, an increase of about 87.10%[71]. - The company reported a net profit attributable to the owners of the company for the first half of 2021 was RMB 4,336,516 thousand, compared to RMB 2,317,770 thousand in the same period of 2020, representing an increase of 87%[161]. - The net profit attributable to the group for the six months ended June 30, 2021, was RMB 10,674,445 thousand, up from RMB 7,163,861 thousand for the same period in 2020, reflecting an increase of approximately 48.5%[195]. Production and Sales - In the first half of 2021, the company achieved a total vehicle production and sales volume exceeding 1 million units, with year-on-year growth of 25.6% and 24.5% respectively[16]. - The company's total vehicle production and sales were 1.0014 million and 1.0265 million units, with year-on-year growth of 25.61% and 24.49%, respectively, and a market share of 7.96%[61]. - The production and sales of new energy vehicles reached 1.215 million and 1.206 million units, respectively, representing a year-on-year growth of 200%[58]. - The domestic automobile market saw production and sales of 12.569 million and 12.891 million vehicles, respectively, representing year-on-year growth of 24.2% and 25.6%[50]. - Domestic passenger car sales exceeded 10 million units, with production and sales of 9.840 million and 10.007 million units, respectively, showing year-on-year growth of 26.8% and 27.0%[52]. Product Development and Innovation - The company launched several popular models in the first half of 2021, including the GAC Trumpchi Yingbao and GS4 PLUS, as well as the AION Y and AION S PLUS from GAC Aion[16]. - The company filed 1,343 new patent applications, including 614 invention patents, bringing the total to over 9,300 applications[18]. - The company is collaborating with Huawei to develop a series of smart vehicles equipped with Huawei's full-stack intelligent automotive solutions, with the first model expected to launch by the end of 2023[18]. - The company is advancing the application of Toyota's THS hybrid system and GAC's self-developed GMC dual-motor hybrid system, promoting a full-chain green low-carbon ecosystem[21]. - The company plans to increase the proportion of new energy vehicle sales to 20% by 2025, with over 20% of traditional fuel vehicles being hybrid[20]. Financial Health and Investments - The total assets as of June 30, 2021, were RMB 141,265,772 thousand, slightly down from RMB 142,860,688 thousand at the end of 2020[160]. - The company's total liabilities decreased to RMB 51,197,454 thousand as of June 30, 2021, from RMB 56,147,060 thousand at the end of 2020, indicating improved financial health[160]. - The company maintained an AAA credit rating with no changes reported during the period[127]. - The company plans to invest RMB 1.5 billion in various projects, with a focus on new energy vehicles and advanced technology research and development[131]. - The company has established a capital operation platform that integrates A+H shares, facilitating effective resource allocation and maximizing corporate value[46]. Corporate Governance and Structure - The unaudited interim results for the six months ended June 30, 2021, were reviewed by the audit committee and approved by the board[5]. - The company has improved its management structure through reforms, including the introduction of a performance-linked compensation mechanism for model directors[19]. - The company has a complete automotive industry chain, including R&D, vehicle manufacturing, parts, trade services, finance, and mobility[32]. - The company is committed to deepening reforms and accelerating digital and intelligent upgrades to stimulate corporate momentum[21]. - The company appointed Jiang Xiuyun as the Chief Financial Officer, with a term aligned with the current board of directors[152]. Market Position and Strategy - The company achieved a ranking of 176 in the Fortune Global 500, improving by 30 places from the previous year[17]. - The company is positioned as a value creator for mobile living, aiming to become a world-class enterprise trusted by customers and expected by society[26]. - The company is actively pursuing technological innovation and transformation into a technology-driven enterprise through the e-TIME action plan, focusing on customer experience, smart manufacturing, and electrification[49]. - The company is focused on enhancing digital marketing capabilities and establishing a responsive service system to improve customer lifecycle engagement[21]. - The company aims to implement seven major actions to ensure the achievement of annual plan goals, focusing on product enhancement and brand loyalty[21]. Challenges and Risks - The company faced risks related to chip supply shortages, which could impact the achievement of annual automotive production and sales targets[137]. - Rising raw material costs due to global liquidity and domestic economic recovery are expected to increase cost pressures, creating uncertainty for profit targets[137]. - The company plans to continue coordinating resources to ensure supply stability amid ongoing global chip shortages, which are expected to impact production targets[70]. - The company has initiated the "GLASS Green Plan" to support carbon peak and carbon neutrality goals, focusing on low-carbon development actions[20]. - The domestic economy is expected to continue its recovery in the second half of the year, providing stable support for automotive consumption[21].

Financial Performance - The group achieved a total sales revenue of approximately RMB 395.498 billion, an increase of about 5.87% compared to the previous year[37]. - The net profit attributable to shareholders was approximately RMB 5.964 billion, a decrease of about 9.85% year-on-year[39]. - The total sales revenue for the company reached RMB 631.57 billion, a decrease of 13.95% compared to the previous year[83]. - The net profit attributable to shareholders was approximately RMB 59.64 billion, a decrease of 9.85% year-on-year[92]. - The sales cost for the period was approximately RMB 608.61 billion, an increase of about 6.44% compared to the previous year, leading to a gross profit margin decrease of 0.59 percentage points[80]. - The company reported a cash dividend of RMB 0.15 per share for the year-end 2020, totaling approximately RMB 1.55 billion based on the total share capital as of February 28, 2021[120]. - In 2020, the company distributed a total cash dividend of RMB 1.86 billion, which represents 31.18% of the net profit attributable to ordinary shareholders[119]. Production Capacity and Sales - The total production capacity for motorcycles reached 1.25 million units per year, while the total automobile production capacity was 2.733 million units per year as of the end of the reporting period[20]. - The company aims to achieve automotive production and sales of 3.5 million units by the end of the 14th Five-Year Plan, focusing on six major sectors including R&D and vehicle manufacturing[43]. - The automotive sales increased from 1.3 million units at the end of the 12th Five-Year Plan to 2.04 million units at the end of the 13th Five-Year Plan, achieving a compound annual growth rate of 9.5%[42]. - The production and sales volume of sedans was 56,261 units, with a sales decrease of 3.96% year-on-year[84]. - The total production and sales of commercial vehicles were 523,120 and 513,330 units, representing a year-on-year increase of 19.96% and 18.69%[55]. Research and Development - The company invested over RMB 5.1 billion in R&D throughout the year, resulting in 1,961 new patent applications, including 823 invention patents, bringing the total to 8,040 applications, with 2,753 being invention patents[40]. - The group constructed a global R&D network with a world-class production system, ranking sixth nationally and first in the automotive industry in the national technology center evaluation[27]. - The group’s R&D is primarily managed by the GAC R&D Institute, focusing on new products and technologies[15]. - The company has developed a leading pure electric vehicle platform (GEP) and an integrated "three-in-one" electric drive system, launching the Aion series of new energy vehicles[29]. Market Position and Strategy - The company's market share in the domestic market increased to 10.11%, outperforming the industry average by approximately 5 percentage points[64]. - The company has established strategic partnerships with Baidu and Huawei in the fields of intelligent driving and connectivity, and invested in strategic projects like Horizon Robotics and AVIC Lithium Battery[40]. - The company launched the e-TIME action plan to transform into a technology-oriented enterprise, focusing on customer experience, technological innovation, intelligent networking, smart manufacturing, and electrification[48]. - The company aims to strengthen its brand and enhance its sales system capabilities while focusing on consumer-preferred star models as part of its marketing strategy[44]. Supply Chain and Operational Risks - The company faces risks from economic fluctuations, trade tensions, and increasing competition in the automotive market[115]. - Supply chain risks were highlighted, particularly due to global chip shortages affecting the automotive industry, which may hinder future development[116]. - The company is focused on strengthening its supply chain and promoting localization of key components[114]. - The company is committed to establishing a secure and self-controlled supply chain for key components to mitigate future risks[116]. Social Responsibility and Community Engagement - The company has committed RMB 146 million to poverty alleviation and public welfare initiatives, helping 1,259 impoverished households and 5,676 individuals to escape poverty[41]. - The company has invested over RMB 60 million in poverty alleviation efforts, successfully lifting all 229 impoverished households out of poverty, with an average disposable income exceeding RMB 20,000[178]. - The company has implemented a "1+1+1+2" support model, ensuring each impoverished village receives at least RMB 3.5 million annually[181]. - The company has established a monitoring mechanism to prevent the re-emergence of poverty among previously impoverished populations[186]. Corporate Governance and Compliance - The company revised and improved 112 internal regulations to strengthen corporate governance and risk control[75]. - The auditor's report indicated no issues with the approval of related party transactions by the board of directors[171]. - The company confirms compliance with the disclosure requirements under Chapter 14A of the Listing Rules regarding related party transactions[149]. - The independent non-executive directors confirmed that the related party transactions were conducted in the ordinary course of business and on normal commercial terms[169]. Incentive Plans and Employee Engagement - The group implemented an A-share stock option and restricted stock incentive plan to enhance employee motivation and promote long-term stable development[39]. - The 2020 A-share stock option and restricted stock incentive plan granted 102,101,330 A-share stock options and 102,101,330 restricted stocks to 2,872 incentive targets on December 4, 2020[139]. - The incentive plans aim to align the interests of shareholders, the company, and key personnel, promoting long-term development[139]. - A total of 350,551,698 options were canceled during the reporting period due to reasons such as resignation and failure to meet performance conditions[148].