2025年中期业绩 2025 Interim Results 2025年8月 Aug. 2025 声明Disclaimer 本介绍片由长城汽车股份有限公司（「公司」）编制，只作企业通讯和一般参考之用。公司无意在任何司 法管辖区使用本介绍片作为出售和招揽他人购买公司任何证券的要约，或用作投资公司证券的决定基础。 未经咨询专业意见的情况下，不得使用或依赖此等全部资料。本介绍纯属简报性质，并非完整地描述公司、 公司业务、目前或过去的经营业绩或业务未来前景。 公司不会为本介绍片发出任何明文或隐含的保证或声明。公司特此强调，不会对任何人使用或依赖本介绍 片的任何资料（财务或其它资料）承担任何责任。 This presentation is prepared by Great Wall Motor Company Limited (the "Company") and is solely for the purpose of corporate communication and general reference only. The presentation is not intended as an offer to ...

金融界2025年8月29日消息，国家知识产权局信息显示，长城汽车股份有限公司取得一项名为"车载空调 的控制方法、装置、电子设备及车辆"的专利，授权公告号CN 116080342 B，申请日期为2023年01月。 声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 天眼查资料显示，长城汽车股份有限公司，成立于2001年，位于保定市，是一家以从事汽车制造业为主 的企业。企业注册资本855894.5933万人民币。通过天眼查大数据分析，长城汽车股份有限公司共对外 投资了75家企业，参与招投标项目2601次，财产线索方面有商标信息5000条，专利信息5000条，此外企 业还拥有行政许可640个。 ...

Group 1 - Hong Kong automotive stocks collectively rose, with Li Auto up over 6%, BYD up nearly 5%, Great Wall Motors and NIO up over 3%, and XPeng Motors and Leap Motor up over 2% [1] - Recent earnings reports show Li Auto's Q2 revenue at 30.2 billion yuan, a quarter-on-quarter increase of 16.7%, with an operating profit of 827 million yuan, a year-on-year increase of 76.7% and a quarter-on-quarter surge of 204.4% [1] - Leap Motor achieved Q2 revenue of 14.23 billion yuan, with a gross margin of 13.6% and a net profit of 160 million yuan, marking a profitable quarter that exceeded expectations [1] Group 2 - XPeng Motors reported a net profit of -66.05 million USD for the second fiscal quarter of FY2025, an increase of 62.68% year-on-year [1] - BYD is expected to announce its Q2 results on August 30, forecasting a net profit between 10.5 billion to 12.914 billion yuan, representing a year-on-year growth of 15.9% to 42.5% [1] - Analysts suggest that Chinese automotive brands have gained the capability to compete with global traditional giants in design, technology, and experience, particularly in electrification and intelligence [1]

Group 1 - Hong Kong automotive stocks collectively rose, with Li Auto up over 6%, BYD up nearly 5%, Great Wall Motors and NIO up over 3%, and XPeng Motors and Leap Motor up over 2% [1] - Li Auto reported Q2 revenue of 30.2 billion yuan, a quarter-on-quarter increase of 16.7%, with an operating profit of 827 million yuan, a year-on-year increase of 76.7% and a quarter-on-quarter increase of 204.4% [1] - Leap Motor achieved Q2 revenue of 14.23 billion yuan, with a gross margin of 13.6% and a net profit of 160 million yuan, marking a profitable quarter that exceeded expectations [1] Group 2 - XPeng Motors reported a net profit of -66.05 million USD for the second fiscal quarter of FY2025, an increase of 62.68% year-on-year [1] - BYD is expected to announce its Q2 results on August 30, predicting a net profit of 10.5 to 12.914 billion yuan, a year-on-year increase of 15.9% to 42.5% [1] - Analysts suggest that Chinese automotive brands have the capability to compete with global traditional giants, particularly in electrification and intelligence, and are actively entering developed markets such as Europe and Australia, while positioning Mexico as a gateway to the North American market [1]

Core Viewpoint - GWM (Great Wall Motors) has evolved from a small factory focused on pickup trucks to a comprehensive automotive manufacturer with a global presence, emphasizing self-research and development, and a shift towards an "ecological overseas" strategy [3][4][6][14]. Group 1: Company Evolution - GWM was founded in 1984 as a small factory with fewer than 100 employees, initially relying on pickup trucks in a market dominated by joint ventures and foreign brands [3]. - Over 35 years, GWM has focused on self-research, developing its own engines and components, and now supplies parts to major international automakers like BMW and Mercedes [4]. - The company has established a complete technical loop, showcasing its ability to manufacture vehicles and supply components to others [4][5]. Group 2: Global Expansion Strategy - GWM's "ecological overseas" strategy involves not just exporting vehicles but also establishing local R&D centers, factories, and service channels in foreign markets [6][8]. - The company has expanded its overseas sales channels to over 1,400 locations across Europe, South America, the Middle East, and Australia, with cumulative overseas sales exceeding 2 million vehicles [8]. - GWM's investment in local production, such as the planned factory in Brazil with an annual capacity of 100,000 vehicles, aims to mitigate risks associated with tariffs and trade barriers [9]. Group 3: Challenges and Competitiveness - GWM faces challenges in scaling its operations, particularly in the competitive electric vehicle market, where it lags behind rivals like BYD and Geely [11]. - The company has strengths in traditional manufacturing but needs to enhance its capabilities in software and intelligent vehicle technology to remain competitive [12]. - GWM's multi-brand strategy, while extensive, risks resource dilution and strategic conflicts among its various product lines [13]. Group 4: Future Outlook - GWM's ability to convert its reliability and long-term approach into competitive advantages in the rapidly evolving automotive landscape will be crucial for its future success [16]. - The company must balance speed and stability in its global expansion efforts to avoid potential pitfalls associated with heavy asset investments [13].

8月27日，坦克品牌全新坦克500上市，推出Hi4-Z、Hi4-T及3.0T V6燃油三种动力版本，其中Hi4-Z智享版37.5万元， Hi4-T智享版35.5万元，Hi4-T基础版33.5万元，3.0T造境版35.5万元。 相比于老款车型，全新坦克500新增智享版车型，对整车舒适性和豪华感方面做了较大升级。例如，座椅采用纯天然 全粒面Nappa真皮，前后排四座均支持通风、加热与按摩功能，冷暖车载冰箱支持-6℃冷藏到50℃加热，新增后排娱乐 屏等配置。 因此，坦克品牌选择将坦克500作为重点车型来培育，其核心就是在坦克500身上首搭Hi4-Z泛越野电混架构。 Hi4-Z技术的核心优势在于联动"功率分流+三档DHT+双电机四驱"，对整车动力进行"分流"。其中，功率分流行星轮 将发动机的动力一分为二，一部分动力直接驱动车轮，另一部分动力则流向发电机转化为电能，时刻进行电池补能； 三档DHT则精准控制动力"流量"；双电机的作用则是稳定能量"水流"。三者配合使Hi4-Z可以将动力"按需分配"，满足 不同用户场景需求。这样做的最大好处就是可以提高能源效率，降低能耗，减少用户的使用成本。 长城汽车的Hi4-Z泛越野混动架 ...

"2025年度新财富杂志最佳董秘暨港股最佳IR评选"于2025年5月正式启动。 本届评选以A/B股上市公司董事会秘书及证券事务代表成员、港股上市公司IR团队为评选对象，涉及5267家A/B股上市公司以及2464家港股上市公司。近 3500家机构、超20万资本圈人士参与投票，覆盖资本市场主流公募基金、券商资管、保险资管、银行理财子公司、信托公司以及私募基金，管理的资产规 模合计近30万亿元。 多达31个省市区的地方证券监管机构、香港公司治理公会均参与了辖区优秀董秘及证代的推荐。此外，本届评选还集结了上市公司治理的"最强大脑"，包 括"金殿堂奖"获奖者、公司治理专家、券商研究相关负责人、投资机构相关负责人、知名学者等超200位专家，组建成"专家评审团"，他们来自170余家上 市公司、30余家公募基金、30家券商研究所和多所知名高校。 最终，300位"最佳董秘"、50个"最佳证代"团队、102个"港股最佳IR"团队脱颖而出，以下为详细名单。 | 5 | 300232 | 洲明科技 | 陈一帆 | | --- | --- | --- | --- | | 6 | 002466 | 天齐锂业 | 张文宇 | | 7 | ...

Core Insights - The article highlights the significant growth of Chinese electric vehicle (EV) exports, with 1.203 million units exported in 2023, marking a 77.6% year-on-year increase [1] - The expansion of the EV market is evident in various regions, including South America, the Middle East, and Russia, where Chinese brands are gaining popularity [2][4] - Challenges such as increased competition, patent disputes, and stringent certification requirements are emerging as obstacles for companies in the international market [10][13] Group 1: Export Growth and Market Expansion - In 2023, Chinese EV exports reached 1.203 million units, a 77.6% increase from the previous year, with projections of 1.284 million units in 2024, a 6.7% growth [1] - South America, particularly Brazil, is becoming a key market, with Chinese brands accounting for 91.4% of imported EV sales in the first half of 2024, generating $1.2 billion in sales [2] - Companies like Great Wall Motors are successfully penetrating various international markets, with 229,800 units sold in Russia, capturing approximately 12% of the local passenger car market [2][4] Group 2: Regional Market Characteristics - South American consumers show a preference for larger EVs with advanced technology features, while markets like Egypt favor smaller vehicles due to road conditions [4][5] - The demand for EVs in regions like the Middle East and Russia is driven by the need for spacious vehicles and long-range capabilities, with local consumers valuing these attributes [5] Group 3: Challenges in International Expansion - Patent disputes are a growing concern, with companies like BYD and Geely facing lawsuits over alleged patent infringements in markets like Brazil and Germany [10][12] - Certification processes in international markets, particularly in the EU, are complex and costly, posing additional barriers for Chinese manufacturers [13] - The emergence of "parallel exports," where vehicles are sold as used cars to avoid high tariffs, is becoming a common practice, although it raises concerns about brand integrity [6][7] Group 4: Competitive Landscape and Strategies - The competitive landscape is intensifying, with profit margins shrinking due to increased competition among exporters, leading to a reduction in gross margins from 15% to nearly half [8] - Companies are investing in localizing their products and improving logistics to enhance competitiveness in foreign markets [5][8] - To navigate the challenges, firms are focusing on technological innovation, patent strategies, and enhancing market presence through various promotional activities [13]

Core Viewpoint - The article highlights the rapid expansion of Chinese electric vehicle (EV) exports, showcasing significant growth in international markets while also addressing the challenges faced by companies in this competitive landscape [2][3][23]. Export Performance - In 2023, Chinese EV exports reached 1.203 million units, marking a year-on-year increase of 77.6%. Projections for 2024 estimate exports at 1.284 million units, a growth of 6.7%, and for the first five months of 2025, exports totaled 855,000 units, up 64.6% [2]. - In Brazil, Chinese brands accounted for 91.4% of the total imported EV sales in the first half of 2024, generating sales worth $1.2 billion [4]. Market Expansion - Chinese EV manufacturers are increasingly targeting markets in South America, the Middle East, and Africa, with companies like BYD, Great Wall, and Geely leading the charge [5][6]. - The demand for EVs in South America is bolstered by favorable weather conditions and ongoing infrastructure development, such as charging stations [6]. Challenges Faced - The industry is experiencing intensified competition, patent disputes, and stringent certification requirements, which pose significant hurdles for companies [3][17]. - In Russia, high import taxes and localization requirements for vehicle systems have complicated market entry for Chinese EVs, leading to inflated prices and consumer hesitance [7][8]. Innovative Export Strategies - The "parallel export" model has emerged as a cost-effective method for entering foreign markets, allowing vehicles to be registered domestically before being exported as used cars, thus reducing costs [9][10]. - This model has gained popularity among dealers, despite concerns from manufacturers about brand integrity [10][12]. Legal and Certification Issues - Chinese EV manufacturers face legal challenges, including patent lawsuits from companies like Nokia and LG, which could hinder market access and sales [18][19]. - The certification process for entering markets like the EU is complex and costly, requiring compliance with numerous technical standards [21][22]. Conclusion - The journey of Chinese EVs into global markets is marked by both opportunities and challenges, necessitating a focus on technological innovation, patent management, and market adaptability to thrive in the competitive landscape [23].

8月27日，坦克品牌在世界文化遗产都江畔举行全新坦克500上市发布会，主题为"开启越野新时代"。此次发布会是都江堰首次承办汽车品牌活动，长城汽车 Hi4技术与坦克品牌借此向都江堰所体现的中国传统智慧致敬。 全新坦克500的设计融入中国元素，前脸中网灵感来自古建"举折"屋顶形态，副仪表盘设计参考传统丹陛石造型，新增敦煌绿色彩选项源自敦煌壁画矿物颜 料。在预售中，该配色版本订单占比达35%。 内饰方面，车辆配备Nappa真皮座椅，支持通风、加热与按摩功能，并搭载冷暖车载冰箱及多屏互联系统，提供智能语音助手和后排娱乐屏。 智能驾驶系统方面，新车搭载Coffee Pilot Ultra辅助驾驶系统，支持无图城市NOA和全场景智能导航辅助。 综合来看，全新坦克500在越野性能、智能科技与豪华配置方面均有所提升，覆盖多场景用车需求。 在预售阶段，全新坦克500在24小时内订单突破11000辆，目前订单数量仍在增长。 发布会期间，央视新闻《首屈一指》栏目在都江堰进行现场对话，巴蜀文化专家赵文侨与长城汽车董事长魏建军参与交流，探讨了都江堰治水哲学与长城 Hi4智能四驱电混技术在理念上的共通之处。魏建军表示，都江堰体现了可持续 ...