Group 1 - The core viewpoint of the news is the launch and pre-sale of the new "V6 Cannon" pickup truck by Great Wall Motors at the Chengdu Auto Show, with a pre-sale price of 229,800 yuan and three pre-sale benefits for buyers [1] Group 2 - The V6 Cannon is developed on an intelligent professional off-road tank platform, featuring a short wheelbase, lightweight body, and a strong power system. It won six championships in the T2.1 production fuel category at the 2023 Rally of the Silk Road [3] - The vehicle is powered by a 3.0T V6 engine, delivering a maximum net power of 260 kW and peak torque of 500 N·m, with a 0-100 km/h acceleration time of around 6 seconds. It incorporates a 48V mild hybrid system to balance performance and fuel economy [3] - The transmission system features a self-developed 9AT gearbox with a maximum transmission efficiency exceeding 97% and a maximum load torque of 750 N·m. It also includes a BorgWarner electronically controlled silicone oil fan to enhance cooling performance for high-intensity off-road conditions [3] Group 3 - The V6 Cannon has a two-door single cab design, a wheelbase of 2745 mm, and a curb weight of 2285 kg. The vehicle is raised by 2 inches at the factory, with approach, departure, and breakover angles of 33°, 22°, and 26° respectively, and a minimum ground clearance of 240 mm, enhancing its off-road capability [5] - It is equipped with dual 8-stage adjustable nitrogen shock absorbers, a high-performance BorgWarner four-wheel drive transfer case, and features such as front and rear electronic differential locks, crawl mode, tank turn, and six all-terrain driving modes, including an off-road expert mode that can disable electronic assistance systems [5] - The V6 Cannon is positioned to meet the needs of off-road enthusiasts and specific event usage, reflecting Great Wall Motors' "testing vehicles through competition" philosophy [5]

Group 1 - The Weipai Gaoshan 7 was unveiled at the 2025 Chengdu International Auto Show and is set to begin pre-sales in mid-September, targeting the family vehicle market with a price expected to be under 300,000 yuan [1] - The cumulative delivery of the new Gaoshan series has reached nearly 20,000 units since its launch in May, and Weipai's total sales exceeded 40,000 units from January to July this year [1] - Weipai announced the upcoming launch of its next-generation all-power intelligent super platform, which will support five power forms and feature advanced technologies such as a dual 4-second 2.0 hybrid system and an 800V hybrid architecture [1] Group 2 - The Ora brand is enhancing its "Urban Classic" label by creating user co-creation experience spaces and plans to launch two new products globally in the second half of the year, focusing on breakthroughs in intelligence and comfort [2]

Group 1 - The 2025 Chengdu International Auto Show opened on August 29, showcasing several models from Great Wall Motors' high-end new energy brand, Wey, including the new MPV model "Gaoshan 7" which will start pre-sales on September 10 [1] - Wey's cumulative sales from January to July exceeded 40,000 units, with over 10,000 units delivered for two consecutive months, indicating a return to the mainstream of the domestic high-end new energy market [1] - The new Gaoshan has delivered nearly 20,000 units since its launch in May, frequently topping the weekly sales chart for new energy MPVs, while the large six-seat SUV, Blue Mountain, has surpassed 100,000 units in cumulative deliveries [1] Group 2 - The Gaoshan 7 is positioned as a "family mobile living room," emphasizing high space utilization, flexible interior, and intelligent configurations, and is the only MPV under 300,000 yuan to feature standard laser radar and intelligent four-wheel drive [1] - Wey has over 460 retail centers nationwide, covering more than 200 cities, with plans to expand to 700 by the end of the year, and is committed to a Direct to Consumer (DTC) model to enhance service experience [1] - During the auto show, Wey announced the development of the next-generation all-power intelligent super platform, compatible with five power forms, featuring 800V high-voltage architecture and hybrid battery technology with over 400 km of pure electric range [2] Group 3 - Wey's recent market recovery is attributed to the established recognition of products like Blue Mountain and Gaoshan in the 300,000 yuan segment, as well as rapid expansion of sales channels and enhanced user services [2]

Performance Summary - China Railway Construction (01186.HK) reported a revenue of 489.2 billion yuan, a decrease of 5.2% year-on-year, with a net profit of approximately 10.7 billion yuan, down 10.1% [2] - Industrial and Commercial Bank of China (01398.HK) achieved a revenue of 409.1 billion yuan, an increase of 1.8% year-on-year, while net profit fell by 1.4% to 168.1 billion yuan [2] - Agricultural Bank of China (01288.HK) recorded a revenue of 369.79 billion yuan, up 0.7% year-on-year, and a net profit of 139.51 billion yuan, an increase of 2.66% [2] - China Construction Bank (00939.HK) reported a revenue of 385.91 billion yuan, a 3% increase year-on-year, with net profit around 162.08 billion yuan, down 1.4% [2] - Bank of China (03988.HK) had a revenue of 329.42 billion yuan, up 3.61% year-on-year, while net profit decreased by 0.85% to 117.59 billion yuan [2] - Postal Savings Bank of China (01658.HK) reported a revenue of 179.53 billion yuan, a 1.5% increase year-on-year, with net profit of 49.23 billion yuan, up 0.85% [2] - China Merchants Bank (03968.HK) achieved a revenue of 169.92 billion yuan, down 1.7% year-on-year, while net profit increased by 0.3% to 74.93 billion yuan [2] - Bank of Communications (03328.HK) reported a revenue of 133.50 billion yuan, up 0.7% year-on-year, with net profit of 46.02 billion yuan, an increase of 1.6% [2] - Minsheng Bank (01988.HK) had a revenue of 70.70 billion yuan, up 7.8% year-on-year, while net profit decreased by 4.9% to 21.38 billion yuan [2] - China Everbright Bank (06818.HK) reported a revenue of 65.95 billion yuan, down 5.6% year-on-year, with net profit of 24.62 billion yuan, an increase of 0.55% [2] - BYD Company (01211.HK) achieved a revenue of 371.28 billion yuan, up 23.3% year-on-year, with net profit of 15.51 billion yuan, an increase of 13.8% [2] - China Communications Construction Company (01800.HK) reported a revenue of 335.45 billion yuan, down 5.8% year-on-year, with net profit of 9.99 billion yuan, down 16.9% [2] - Lenovo Holdings (03396.HK) achieved a revenue of 281.59 billion yuan, up 21% year-on-year, with net profit of 699 million yuan, an increase of 144% [2] - Great Wall Motors (02333.HK) reported a revenue of 92.34 billion yuan, up 1% year-on-year, with net profit of 6.34 billion yuan, down 10.2% [2] - BYD Electronics (00285.HK) achieved a revenue of 80.61 billion yuan, up 2.6% year-on-year, with net profit of 1.73 billion yuan, an increase of 14% [2] - Country Garden (02007.HK) reported a revenue of 72.57 billion yuan, with a net loss of 19.078 billion yuan [2] - China Reinsurance (01508.HK) achieved a revenue of 61.03 billion yuan, up 0.6% year-on-year, with net profit of 6.244 billion yuan, an increase of 9.03% [2] - Yanzhou Coal Mining Company (01171.HK) reported a revenue of 53.966 billion yuan, down 13.17% year-on-year, with net profit of 4.731 billion yuan, down 38.7% [2] - Jitu Express (01519.HK) achieved a revenue of 5.499 billion USD, up 13.1% year-on-year, with net profit of 156 million USD, an increase of 147.1% [2] - AVIC Industry (02357.HK) reported a revenue of 37.465 billion yuan, up 11.43% year-on-year, with net profit of 1.03 billion yuan, down 17.67% [2] - CITIC Financial Assets (02799.HK) achieved a revenue of 31.136 billion yuan, up 2.9% year-on-year, with net profit of 6.168 billion yuan, an increase of 15.7% [2] - Bank of China Hong Kong (02388.HK) reported a net interest income of 25.06 billion HKD, down 3.5% year-on-year, with net profit of 22.12 billion HKD, an increase of 10.54% [2] - Zoomlion Heavy Industry (01157.HK) achieved a revenue of 24.855 billion yuan, up 1.3% year-on-year, with net profit of 2.765 billion yuan, an increase of 20.84% [2] - New Town Development (01030.HK) reported a revenue of 22.1 billion yuan, down 34.82% year-on-year, with net profit of 895 million yuan, down 32.11% [2] - Huatai Securities (06886.HK) achieved a revenue of approximately 20.98 billion yuan, up 5.86% year-on-year, with net profit of 7.549 billion yuan, an increase of 42.16% [2] - China Sanjiang Chemical (02198.HK) reported a revenue of 9.106 billion yuan, down 1.5% year-on-year, with net profit of 301 million yuan, an increase of 95.5% [2] - Tianjin Bank (01578.HK) achieved a revenue of 8.828 billion yuan, up 0.8% year-on-year, with net profit of 1.988 billion yuan, an increase of 1.1% [2] - Harbin Bank (06138.HK) reported a revenue of 7.386 billion yuan, up 2.6% year-on-year, with net profit of 915 million yuan, an increase of 20% [2] - Qingjian International (01240.HK) achieved a revenue of approximately 4.404 billion HKD, down 9.8% year-on-year, with net profit of 2.992 million HKD, an increase of 25.6% [2] - Xingye Alloy (00505.HK) reported a revenue of 4.389 billion yuan, up 22.1% year-on-year, with net profit of 106 million yuan, down 24.7% [2] - 3SBio (01530.HK) achieved a revenue of 4.355 billion yuan, down 0.8% year-on-year, with net profit of 1.358 billion yuan, an increase of 24.6% [2] - Huya Technology (01860.HK) reported a revenue of 938 million USD, up 47% year-on-year, with adjusted EBITDA of 88.681 million USD, an increase of 41% [2] - Haitong Securities (01905.HK) achieved a revenue of 3.521 billion yuan, down 12.6% year-on-year, with net profit of 785 million yuan, down 3.4% [2] - Dazhong Public Utilities (01635.HK) reported a revenue of approximately 3.449 billion yuan, down 5.8% year-on-year, with net profit of approximately 333 million yuan, an increase of 172.6% [2] Company News - China Biologic Products (01177.HK) received approval for the launch of Zongaitini tablets for the treatment of HER2-mutant non-small cell lung cancer [3] - Shandong High-Speed New Energy (01250.HK) reported a total operating power generation of approximately 3.6744 million MWh, an increase of approximately 6.9% year-on-year [3] - Fosun International (00656.HK) reached a settlement with Cainiao regarding a share buyback involving 350 million USD [3] Buyback Activities - Tencent Holdings (00700.HK) repurchased approximately 55 million HKD worth of shares, buying back 919,000 shares at prices ranging from 594.5 to 605 HKD [3] - China Hongqiao (01378.HK) repurchased approximately 22.7 million HKD worth of shares, buying back 8.9235 million shares at a price of 25.44 HKD [3] - HSBC Holdings (00005.HK) repurchased approximately 15.3 million HKD worth of shares, buying back 1.5276 million shares at prices ranging from 99.8 to 100.7 HKD [3] - Hang Seng Bank (00011.HK) repurchased approximately 2.3517 million HKD worth of shares, buying back 210,000 shares at prices ranging from 111.5 to 112.5 HKD [3] - MGM China (02282.HK) repurchased approximately 1.60602 million HKD worth of shares, buying back 1 million shares at prices ranging from 15.92 to 16.27 HKD [3] - Sinopec Engineering (02386.HK) canceled 136,500 shares that had been repurchased [3]

本报讯 （记者张晓玉）在8月29日开幕的第二十八届成都国际汽车展览会上，长城汽车旗下坦克品牌全新坦克500Hi4- T/Hi4-Z智享版车型正式亮相。据悉，该车型于8月27日在都江堰上市后，两小时内获得超过12000个大定订单。 展会期间，长城汽车董事长魏建军亲自在动态体验区驾驶车辆带用户体验，展示对产品的信心。企业表示此举体现其"以 用户为中心"的造车理念。 （编辑 郭之宸） 技术方面，全新坦克500采用第二代Hi4-T架构，电机峰值电流从450A提升至600A，功率提升至130kW，扭矩达495Nm。 动力电池充电倍率和功率提升近一倍，30%-80%快充时间缩短至16分钟。Hi4-Z架构则采用功率分流+三档DHT+双电机四驱技 术，旨在实现高效能量分配。 新车定位"全场景智能豪华越野SUV"，在保留越野性能的基础上，搭载长城汽车第三代辅助驾驶系统Coffee Pilot Ultra和 Coffee OS 3智慧空间系统，并配备冰箱、娱乐屏和舒适座椅等配置。厂家宣称其"比传统豪华品牌更智能，比同类竞品更专 业，比新势力适用场景更多"。 车展现场，坦克品牌宣布演员张雨绮出任"首席体验官"。张雨绮在交车仪式上表 ...

Battery - Avesta Holding, a Belgian high-tech company, has signed an agreement to establish a GWh-level solid-state battery project in Jintan, Jiangsu, with an initial investment of €5 million and a planned second phase investment of €100 million, expecting an annual output value of ¥2 billion and tax revenue exceeding ¥100 million upon reaching full production [2] - Great Wall Motors has initiated a recall of 67 electric vehicles due to potential safety hazards related to battery production issues, offering free replacements for the affected battery modules [3] - BMW has commenced road testing of its BMW i7 equipped with large solid-state batteries developed by Solid Power, in collaboration with Umicore, aiming to enhance electric vehicle performance and sustainability [4][5] Materials - Kodali has announced a change in its project location from Malaysia to Thailand, with a new investment of up to ¥210 million, aiming for an annual output value of approximately ¥480 million upon completion [7][8] - Greeenme announced a net profit of ¥799 million for the first half of 2025, with a revenue of ¥17.561 billion, reflecting a year-on-year growth of 1.28% in revenue and 13.91% in net profit [9] Equipment - Winbond Technology has successfully shipped multiple high-performance coating machines to a battery factory in Hungary, supporting a production line with a capacity of 40 GWh, marking a significant achievement in its European strategic layout [12][13] Recycling - Shaanxi Jiaokong and Shenzhen Qiantai have signed a cooperation agreement to expand the recycling and dismantling business of new energy vehicles, focusing on battery disposal and providing expertise in battery storage and utilization [10]

（文/观察者网 张家栋 编辑/高莘） 8月27日，全新坦克500正式上市，新车定位全场景智能豪华越野SUV，推出Hi4-Z、Hi4-T及3.0T V6燃 油三种动力版本，全系价格33.5万—37.5万元。 在此前预售发布时，坦克500已经展现出其增添家用化属性的倾向，而在本次发布会上，长城汽车董事 长也更进一步明确了坦克500的定位，"是实现越野梦想的可靠伙伴，也可以是城市日常通勤的舒适座 驾，更是全家出行的移动保障。" 全新坦克500售价 坦克品牌官网 坦克500敦煌绿配色 文中未标注图片均来自观察者网 这也意味着，以往专注且聚焦于硬派越野的坦克品牌，正在从"单一功能"到"全维价值"的提升。 从市场环境来看，坦克品牌的转变并非偶然。 自坦克300诞生以来，聚焦于越野领域的"方盒子"产品便迎来爆发期。2024年上半年，国内车企对于越 野SUV的打造与营销更是达到高峰，在这一产品周期内，包括长城、比亚迪、奇瑞、吉利、东风、福 特、丰田等在内的多家车企，在中国市场曾推出不下20款越野车产品。 但面对各家车企对于产品的定位不同，以坦克、猛士等为代表的硬派越野品牌，却逐渐与泛越野产品拉 开差距。尤其对标签化已经极其明 ...

长城汽车（601633）(02333)发布截至2025年6月30日止6个月中期业绩，该集团取得营业总收入923.35亿 元，同比增加0.99%;归属于上市公司股东的净利润63.37亿元，同比减少10.21%;基本每股收益0.74元。 2025年，长城汽车迎来成立35周年的重要里程碑，公司始终坚守造车初心，以长期主义驱动高质量发 展，追求有质量的市场佔有率，不短视，不盲从，在稳健、可持续经营的同时，致力打造多方共赢的发 展平台。上半年累计销售568,852辆，同比增长2.52%。新能源车型销售160,435辆，同比增长23.64%， 长城汽车锁定智能新能源赛道，旗下品牌市场影响力持续提升。 哈弗品牌以"全球SUV专家"定位持续引领市场，上半年累计销售323,702辆，同比增长8.89%。哈弗品牌 通过"专注、科技、安心、进取"的品牌价值体系，以Hi4智能四驱电混技术、Coffee OS3智能座舱系统 及长城Coffee Pilot Plus智能辅助驾驶系统为核心技术支撑，覆盖城市型SUV、泛越野SUV、越野SUV三 大品类，推动"技术普惠"与"科技平权"，实现用户价值与品牌势能双增长。技术层面，Hi42.0再进 ...

Core Points - The board of directors of Great Wall Motors convened its 41st meeting to discuss various proposals related to the company's mid-year performance and other operational matters [1][2][3] Group 1: Mid-Year Performance and Reports - The board approved the proposal regarding the company's mid-year performance for 2025, with 8 votes in favor and no opposition [1] - The board also approved the 2024 semi-annual report and summary, receiving unanimous support with 8 votes in favor [2] Group 2: Dividend and Employee Stock Plan - The board decided not to propose any interim dividend distribution for the first half of 2025, with the decision receiving 8 votes in favor [2] - The second lock-up period of the 2023 employee stock ownership plan has been fulfilled, allowing 2,767 eligible employees to unlock their stock rights, with the proposal passing with 6 votes in favor [3] Group 3: Foreign Exchange Derivatives - The board approved the proposal for the company and its subsidiaries to engage in foreign exchange derivatives trading to meet operational needs, with unanimous support of 8 votes [3]

Business Background - The company, Great Wall Motor Co., Ltd., is expanding its overseas operations, leading to increased foreign exchange income and expenditure, which has resulted in a growing foreign exchange risk exposure due to mismatches in currency and timing [1] - To mitigate the adverse effects of significant exchange rate fluctuations and reduce financial costs, the company plans to engage in foreign exchange hedging through derivatives based on specific business needs [1] Types of Transactions - The foreign exchange derivative transactions include but are not limited to forward foreign exchange contracts, foreign exchange swaps, currency swaps, foreign exchange options, interest rate swaps, interest rate options, and their combinations [1] Transaction Amounts and Limits - The maximum contract value held at any point during the period from board approval until the 2025 annual board meeting will not exceed RMB 20 billion or its equivalent in other currencies [2] - The estimated transaction margin and premiums will not exceed RMB 3.5 billion or its equivalent in other currencies during the same period [2] Duration and Funding Sources - The duration of the transactions will generally not exceed three years and will match the underlying transaction period [2] - The funding for these foreign exchange derivative transactions will primarily come from the company's own funds [2] Counterparties and Liquidity Arrangements - Transactions will be conducted with domestic and international financial institutions that have the qualifications and good credit for foreign exchange derivative trading [2] - The business amounts and durations will generally align with the expected income and expenditure plans to ensure liquidity [2] Risk Analysis - Market risk arises from differences between contract rates and actual rates at maturity, which can lead to trading gains or losses [3] - Liquidity risk may occur if foreign exchange derivatives are not appropriately arranged, potentially impacting the company's cash flow [3] - Performance risk is minimized by selecting counterparties with good credit and established long-term business relationships [3] Risk Control Measures - The company will only engage in simple foreign exchange derivatives closely related to its core business, adhering to prudent and safe risk management principles [4] - A strict management system for foreign exchange derivative trading has been established, detailing operational principles, approval authority, and risk management procedures [4] - Regular audits of derivative trading activities will be conducted by the internal audit department to ensure compliance and risk management [4] Feasibility Conclusion - The company aims to enhance financial stability by addressing exchange rate and interest rate risks through foreign exchange derivative transactions based on actual business needs [5]