H股代码：02238 H 股简称：广汽集团 A股代码：601238 A股简称：广汽集团 公告编号：临2025-047 广州汽车集团股份有限公司 第七届董事会第 4 次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重 大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 本议案在提交董事会审议前已经董事会薪酬与考核委员会审议通过。 二、审议通过了《关于广汽资本增设战略投资全资基金的议案》。同意全资 子公司广汽资本有限公司增设战略投资全资基金，基金总规模不超过 15 亿元。 表决结果：同意 10 票，反对 0 票，弃权 0 票。 三、审议通过了《关于设立广州智能网联汽车产业联盟基金的议案》。同意 公司与广州工业投资控股集团有限公司共同投资设立广州智能网联汽车产业联 盟基金（暂定名），规模为 10 亿元，双方各出资 50%；基金采用双 GP（普通合伙 人）模式，由广州盈蓬私募基金管理有限公司（简称"广州盈蓬"，公司全资附 属公司）和广州工控投资咨询有限公司担任基金 GP（普通合伙人），各出资 100 万元，且由广州盈蓬担任基金管理人和执行事务合伙人。 表决结果：同意 10 ...

广汽冯兴亚：目前广汽埃安支付员工利息和本金没有问题 未来退出渠道将多样化 智通财经6月20日电，广汽集团董事长、总经理冯兴亚今日表示，现在并不是广汽埃安上市最佳时机， 目前最重要的是将广汽埃安估值做大，寻找合适时机再进行资本运作，形式可能包括继续推动上市，或 者集团收购等。对于近日员工持股的相关问题，冯兴亚称，未来员工退出的渠道也可能会很多样，除上 市或集团收购，也可以股东方式获得企业分红。"目前支付员工利息和本金没有问题，如实在有困难， 公司也会尽力给予帮助。"此外，对于埃安未来，冯兴亚透露，广汽会不断把优质资源注入广汽埃安， 包括昊铂品牌。接下来，埃安计划将出租车（B端）单独打造一个新的品类，埃安专注C端，昊铂则定 位新能源车高端品牌。（智通财经记者 刘阳） ...

6月10日至6月11日，包括广汽集团在内的近20家国内主流乘用车企业先后发布声明，承诺将供应商支付 账期统一至60天内。广汽集团表示，供应链体系的健康发展是保障产品高安全、高品质的基础。为此， 广汽集团将一如既往，坚持以不超过60天的供应商账期，保障供应链资金高效周转，携手上下游伙伴， 共同促进行业高质量发展。 国内汽车经销商陷入"增量不增利"的窘境 近日有关"比亚迪山东经销商集团济南乾城汽车贸易有限公司资金出现问题"的消息引发业内外关注。5 月28日，比亚迪方面回应表示："网传信息不属实。过去几年我们对经销商的政策连续且稳定。据了 解，该经销商集团由于盲目急速扩张并加杠杆运营，导致资金链出现问题。去年底以来，该经销商集团 的部分4S店已被当地其他经销商收购。我们对该经销商集团也在进行纾困支持，协助该经销商集团妥 善处理其客户及员工的相关问题。" 继车企纷纷表态"将供应商支付账期统一至60天"之后，广汽集团又发大招了。 6月14日，广州汽车集团股份有限公司（即广汽集团）官方微信公众号发布承诺公告。广汽集团表示， 作为汽车产业链重要一环，经销商的稳健发展是确保用户服务和体验的关键因素。广汽集团积极响应中 国汽车 ...

Core Insights - GAC Group launched the GOVY AirCab flying car at the Hong Kong International Auto Expo, with a price not exceeding 1.68 million yuan, making it more affordable than traditional aircraft [2] - Within 24 hours of the price announcement, nearly 1,000 pre-orders for the GOVY AirCab were received, exceeding expectations [2] - The GOVY AirCab is set to enter the airworthiness certification phase, with plans for demonstration operations by the end of 2025 and mass production by the end of 2026 [2] Group 1: Industry Development - Guangzhou is leading the eVTOL (electric vertical takeoff and landing) sector in China, with GAC Group and XPeng's flying vehicles progressing towards mass production [2][3] - The production line for GAC's flying car is expected to be completed by early next year, with a focus on advanced manufacturing technologies and a robust supply chain [4] - Guangzhou has over 4,000 low-altitude economy-related enterprises, ranking second nationally, and has established a comprehensive new energy vehicle industry system [5] Group 2: Market Applications - The GOVY AirCab is designed for urban short-distance connections and tourism, with plans for demonstration operations in Guangzhou by the end of this year [6] - XPeng's "land aircraft" has received over 4,000 orders, indicating strong market interest beyond tourism and short-distance connections [7] - The flying cars are expected to evolve into a part of urban transportation, providing efficient commuting solutions [7] Group 3: Future Projections - The low-altitude economy is projected to reach a market scale of 2 trillion yuan by 2030, requiring real application scenarios to support this growth [8] - The development of low-altitude economy infrastructure in Guangzhou is progressing, with 99 application scenarios identified and 30 operational entities approved [10] - Experts highlight Guangzhou's advantages in low-altitude economy development due to its strong automotive industry base and supportive government policies [12]

Group 1 - GAC Haobo announced that the pure electric large six-seat SUV Haobo HL extended range version will be delivered in August [1]

Group 1 - Guangzhou Automobile Group Co., Ltd. (GAC Group) and Huawei Technologies Co., Ltd. have established a joint venture named Huawang Automotive Technology (Guangzhou) Co., Ltd. to focus on smart vehicle development [1] - Huawang Automotive has initiated a large-scale recruitment drive with over 50 positions available across various fields, emphasizing R&D roles such as battery management and intelligent driving systems [1] - The company aims to create a new high-end automotive brand that will integrate Huawei's smart driving software and solutions [1][2] Group 2 - The first product from Huawang Automotive is expected to be launched in 2026, with Huawei leading the product definition and positioning [2] - GAC Group and Huawei are collaborating to develop a luxury smart electric vehicle priced around 300,000 yuan, based on a new architecture and advanced technology [2] - GAC Group's existing brands are being positioned with distinct intelligent driving missions, targeting different consumer segments within a price range of 100,000 to 1 million yuan [3]

Group 1 - The automotive industry is responding to government calls to shorten payment terms to 60 days, aiming to avoid "involution" competition and improve financial conditions for companies [2][6] - A meeting was held on June 16 by the Trading Association to support high-quality development in the automotive sector, with major automakers and underwriters participating to discuss financing needs and challenges [2][3] - Nine automakers, including FAW, SAIC, BYD, and NIO, committed to a 60-day payment term for suppliers, highlighting the industry's efforts to optimize financing environments [2][3] Group 2 - The Trading Association emphasized the introduction of new financing tools, such as technology innovation bonds and green bonds, to enhance the convenience of bond financing for automotive companies [3][5] - Green bonds are specifically aimed at funding environmentally beneficial projects, with a total issuance of 375 green bonds amounting to 188.37 billion yuan by the Shenzhen Stock Exchange by the end of 2024 [3][4] - The automotive industry is capital-intensive and requires long-term funding for R&D and production, especially during the transition to electrification and smart technologies [4][5] Group 3 - The commitment to a 60-day payment term is part of a broader effort to alleviate financial pressure on upstream suppliers and stabilize the supply chain [6][8] - GAC Group has pledged to complete dealer rebate payments within two months, which is crucial for maintaining dealer stability and ensuring customer service [6][7] - The automotive industry is experiencing significant challenges, with over 4,000 dealers exiting the market in 2024 due to financial pressures, highlighting the need for improved cash flow and support [7][8] Group 4 - The Trading Association aims to strengthen bond market infrastructure and product innovation to better serve the automotive industry's financing needs, promoting a shift towards intelligent, high-end, and green development [5][8] - The ongoing support from the bond market is expected to facilitate a virtuous cycle of reduced payment terms, improved financing, and innovation within the automotive sector [8]

Group 1: Gree Electric and Shield Environment Collaboration - Gree Electric announced a collaboration with Shield Environment for a commercial energy storage project, which is not a rooftop photovoltaic project [1] - The project aims to enhance energy efficiency and facilitate green transformation in factories, reducing energy costs and serving as an emergency backup power source [1] - Gree and Shield will deeply cooperate in energy storage technology and equipment manufacturing, planning to build multiple energy projects in the Yangtze River Delta and Pearl River Delta regions [1] Group 2: Liquor Industry Insights - Guotai Junan's report indicates that the liquor industry is still in a bottoming phase in Q2 2025, with price pressures outweighing volume pressures [2] - The liquor pricing system is undergoing restructuring, with high-end liquor prices trending downward, emphasizing the strategic significance of a "full price layout" [2] - The growth logic of the liquor industry is shifting, with market share becoming more important than price/profit, leading to a competitive advantage for companies with market share [2] Group 3: Leadership Changes in Luxury Goods - Kering Group's board approved the appointment of Luca de Meo as CEO, effective September 15, 2025, following his departure from Renault [3] - The upcoming shareholders' meeting will focus on the proposal for de Meo's appointment and the approval of the new compensation policy under the new organizational structure [3] Group 4: Swine Production Adjustments - Reports indicate that the national breeding sow inventory will be reduced by approximately 1 million heads, bringing the total down to 39.5 million heads [4] Group 5: Xiaomi's Growth and Environment - Xiaomi's founder Lei Jun expressed gratitude for Beijing's favorable business environment and talent resources during the company's 15th anniversary [6] - The company has thrived in Beijing, benefiting from the local ecosystem [6] Group 6: Ba Nu International's IPO - Ba Nu International Holdings submitted an application for an IPO in Hong Kong, with adjusted net profits of RMB 76.7 million for Q1 [7] - The company reported revenues of RMB 1.433 billion, RMB 2.112 billion, and RMB 2.307 billion for the years 2022, 2023, and 2024 respectively [7] Group 7: GAC Aion's Response to Rumors - GAC Group issued a statement denying false information regarding employee stock ownership at GAC Aion, labeling it as malicious rumors [8] Group 8: Xiaomi Automotive Updates - Xiaomi Automotive clarified that there are currently no official channels for large customer orders or cash subsidies, urging the public to verify information through official sources [10] Group 9: Cao Cao Mobility's IPO Plans - Cao Cao Mobility announced plans to issue approximately 44.18 million shares through an IPO in Hong Kong, with an expected trading start date of June 25 [11] Group 10: Norse's Future Plans - Norse stated it will not independently develop innovative drugs but may consider acquiring CRO companies in the future [13] Group 11: Bitcoin Acquisition by Strategy - Strategy company acquired 10,100 bitcoins for $1.05 billion, bringing its total holdings to 592,100 bitcoins with an average cost of $70,666 per bitcoin [14]

Core Viewpoint - Toyota's joint venture GAC Toyota is setting a precedent for foreign brands by collaborating with local tech giants Huawei and Xiaomi, indicating a shift in the approach of foreign automakers towards local partnerships in the competitive Chinese market [4][5][10]. Group 1: Collaboration and Market Strategy - GAC Toyota's recent event showcased a collaboration between Huawei, Xiaomi, and Momenta, highlighting a significant shift in the attitude of foreign automakers towards local tech companies [4][5]. - GAC Toyota has upgraded its partnership with Huawei to a full-scale collaboration, which may encourage other joint ventures to follow suit [5][10]. - The upcoming GAC Toyota model, the Platinum Smart 7, will be the first to integrate Huawei's DriveONE motor, HarmonyOS cockpit, and Xiaomi's ecosystem, showcasing a comprehensive tech integration [7][10]. Group 2: Market Performance and Trends - In the first five months of the year, GAC Group's total sales reached 605,225 units, a year-on-year decline of 13.48%, while GAC Toyota's sales increased by nearly 3% to 273,600 units [8][9]. - The collaboration with tech companies is expected to attract both Huawei and Xiaomi's customer bases, potentially boosting GAC Group's sales performance [10][20]. - The changing consumer preferences, with a significant portion of users opting for traditional brands over new entrants, presents an opportunity for foreign automakers to regain market share [19][20]. Group 3: Industry Dynamics - The automotive industry is witnessing a transformation as foreign automakers recognize the importance of local technology partnerships to enhance their competitiveness in the Chinese market [12][16]. - The collaboration between traditional automakers and local tech firms is seen as a rapid way to improve their smart technology capabilities, which are becoming essential in the current market landscape [14][16]. - The shift in strategy among joint ventures, as exemplified by GAC Toyota, serves as a model for other foreign automakers in adapting to the evolving market demands in China [16][20].

Economic Performance - In May, the national economy showed stable growth with industrial production increasing by 5.8% year-on-year, and equipment manufacturing and high-tech manufacturing growing by 9% and 8.6% respectively, outpacing the overall industrial growth by 3.2 and 2.8 percentage points [1] - The service sector's production index rose by 6.2% year-on-year in May, with significant contributions from information transmission, software, and IT services (11.2%), leasing and business services (8.9%), and wholesale and retail (8.4%) [1] - Retail sales saw a notable recovery, with total retail sales of consumer goods reaching 41,326 billion yuan, a year-on-year increase of 6.4%, accelerating by 1.3 percentage points from the previous month [1] Employment and Prices - The urban survey unemployment rate in May was 5%, a decrease of 0.1 percentage points from the previous month, indicating overall employment stability [2] - The Consumer Price Index (CPI) fell by 0.1% year-on-year and 0.2% month-on-month, while the core CPI, excluding food and energy, increased by 0.6% year-on-year, reflecting a slight acceleration in inflation [2] Investment and Trade - Fixed asset investment (excluding rural households) from January to May totaled 191,947 billion yuan, growing by 3.7% year-on-year, with a notable 7.7% growth when excluding real estate development investment [1] - The total value of goods imports and exports in May reached 38,098 billion yuan, with exports increasing by 6.3% and imports decreasing by 2.1% [1] Corporate Developments - GAC Aion faced employee stock valuation issues, with employees potentially recovering only 42% of their investments due to significant devaluation [5] - Tencent launched an algorithm competition with substantial rewards to attract global talent, supporting its recruitment efforts and enhancing its machine learning capabilities [5] - Xiaomi's automotive factory achieved a production capacity of 20,000 to 30,000 vehicles per month, showcasing high levels of automation [6] - Gree Titanium New Energy announced a court-ordered freeze on its 100% stake in Zhuhai Guangtong Automobile, stemming from past management issues, but stated that operations remain unaffected [6] International Developments - The U.S. Department of Justice is reviewing Alphabet's proposed $32 billion acquisition of cybersecurity startup Wiz for potential antitrust concerns [8] - Santos received a non-binding acquisition offer from a consortium led by Abu Dhabi National Oil Company, valuing the company at $18.7 billion [8] - MicroStrategy announced the purchase of 10,100 bitcoins for approximately $1.05 billion, bringing its total holdings to 592,100 bitcoins [9]