格隆汇1月4日丨长城汽车(601633.SH)公布2025年12月产销快报，12月销量总计124,020台，本年累计销 量1,323,672台，同比增长7.33%。12月海外销售57,418台，1-12月累计销售506,066台。12月新能源车销 售38,922台，1-12月累计销售403,653台。 ...

Core Insights - In December 2025, Great Wall Motors reported total sales of 124,020 units, a decrease of 8.33% compared to 135,286 units in the same month last year [2] - The total production for December was 116,812 units, down 16.38% from 139,697 units year-on-year [2] - For the entire year of 2025, total sales reached 1,323,672 units, reflecting a year-on-year growth of 7.33% from 1,233,292 units [2] - Total production for the year was 1,311,329 units, an increase of 5.71% compared to 1,240,483 units in the previous year [2] Monthly Performance by Brand - **Haval Brand**: December sales were 66,453 units, down 20.34% from 83,425 units last year; annual sales totaled 758,554 units, up 7.41% from 706,234 units [4] - **WEY Brand**: December sales increased by 46.45% to 12,899 units from 8,808 units; annual sales surged 86.29% to 101,954 units from 54,728 units [4] - **Great Wall Pickup**: December sales were 15,338 units, down 5.56% from 16,241 units; annual sales increased by 2.57% to 181,660 units from 177,100 units [5] - **Ora Brand**: December sales rose 71.60% to 8,134 units from 4,740 units; however, annual sales decreased by 23.68% to 48,289 units from 63,272 units [5] - **Tank Brand**: December sales were 21,129 units, down 3.43% from 21,879 units; annual sales increased by 0.74% to 232,713 units from 231,001 units [5] - **Others**: December sales were 67 units, down 65.28% from 193 units; annual sales decreased by 47.54% to 502 units from 957 units [6] Production Performance by Brand - **Haval Brand**: December production was 56,623 units, down 36.51% from 89,180 units; annual production totaled 731,889 units, a slight increase of 0.46% from 728,539 units [4] - **WEY Brand**: December production increased by 68.10% to 13,507 units from 8,035 units; annual production surged 94.65% to 105,267 units from 54,080 units [4] - **Great Wall Pickup**: December production was 16,332 units, up 16.29% from 14,044 units; annual production increased by 8.09% to 183,867 units from 170,113 units [5] - **Ora Brand**: December production rose 77.11% to 9,479 units from 5,352 units; annual production decreased by 18.61% to 48,735 units from 59,880 units [5] - **Tank Brand**: December production was 20,557 units, down 10.26% from 22,907 units; annual production increased by 5.85% to 240,568 units from 227,269 units [5] - **Others**: December production was 314 units, up 75.42% from 179 units; annual production increased by 66.61% to 1,003 units from 602 units [6] Additional Sales Information - In December 2025, Great Wall Motors sold 57,418 units overseas, with total overseas sales for the year reaching 506,066 units [6] - December sales of new energy vehicles were 38,922 units, with total sales for the year amounting to 403,653 units [6]

Core Insights - In 2025, Great Wall Motors achieved a record high in new car sales, totaling 1,323,672 units, representing a year-on-year growth of 7.33%. Sales of new energy vehicles reached 403,653 units, up 25.44%, while overseas sales hit 506,066 units, marking an 11.68% increase [1][3]. Group 1: Sales Performance - Great Wall Motors' new car sales in 2025 reached 1,323,672 units, a 7.33% increase year-on-year [1]. - Sales of new energy vehicles amounted to 403,653 units, reflecting a growth of 25.44% [1]. - Overseas sales reached 506,066 units, showing an 11.68% increase [1]. Group 2: Strategic Focus - The company is focusing on the smart new energy sector, emphasizing three main advantages: technology, off-road capability, and globalization [1]. - Great Wall Motors aims to enhance product high-end, intelligent, and youthful characteristics to improve user experience [1]. Group 3: User Engagement - The company launched a special live broadcast titled "Seeking Advice," where Chairman Wei Jianjun engaged with users, breaking traditional boundaries between the company and its customers [1][3]. - The live event received over 8,400 naming suggestions for the new platform, highlighting user involvement and cultural significance [3]. Group 4: New Platform Development - The new platform will support multiple power sources, including gasoline, diesel, pure electric, hybrid, and hydrogen, catering to diverse global market needs [5]. - Great Wall Motors has shortlisted ten popular names for the new platform, inviting public voting to finalize the name [5].

Core Insights - The Chinese automotive industry is entering a critical transition period in 2025, shifting from policy-driven growth to self-sustained growth, with an expected annual production and sales growth rate of 9% [1] - Great Wall Motors' chairman, Wei Jianjun, emphasizes the importance of integrating traditional Chinese culture into the automotive industry, positioning it as a source of strength for national brands and a driving force for sustainable development [1][2] Group 1: Cultural and Technological Integration - Great Wall Motors adopts a differentiated development strategy by deeply integrating culture and technology, drawing inspiration from various cultural elements such as the wisdom of Dujiangyan and the spirit of Dunhuang [2] - The Hi4-Z architecture utilizes power distribution technology inspired by Dujiangyan's philosophy, balancing mechanical performance with energy efficiency, thus addressing the issue of industry "involution" [2] - The long-term research and development strategy of Great Wall Motors is influenced by Dunhuang culture, with new vehicle colors inspired by the murals of Mogao Caves, leading to successful product launches [2] Group 2: Market Performance and Sales Growth - In 2025, Great Wall Motors achieved new car sales of 1.3237 million units, a year-on-year increase of 7.33%, with new energy vehicle sales reaching 403,700 units, up 25.44% [3] - Overseas sales reached 506,100 units, marking an 11.68% increase and setting new records for both new energy and overseas sales [3] Group 3: Global Expansion and Ecosystem Development - Great Wall Motors is transitioning to a "thicker" growth model, focusing on comprehensive industry chain development and achieving multi-dimensional progress in global markets [7] - The company has established a robust overseas sales network covering over 170 countries and regions, with more than 1,400 channels and a cumulative overseas sales volume exceeding 2 million units [7] - The "ecological export" model promotes resource integration and technological collaboration, enhancing local economic vitality and providing a replicable model for other Chinese automotive brands [7] Group 4: Competitive Positioning and Future Outlook - Great Wall Motors is experiencing significant growth in various regional markets, with Central Asia emerging as a new growth driver and Australia maintaining its position as the top market for Chinese brands [8] - The company's commitment to long-termism and a technology-driven strategy, combined with cultural and technological dual-driven development, positions it favorably in the transition from scale expansion to quality competition [8] - The cultural accumulation, technological advancements, and global layout established in 2025 are expected to create a competitive "moat" for Great Wall Motors, with further value growth potential as new high-end models are produced and overseas markets deepen [8]

Core Viewpoint - Great Wall Motors (601633.SH) reported a total vehicle sales of 1,323,672 units in 2025, reflecting a year-on-year growth of 7.33%. The sales of new energy vehicles reached 403,653 units from January to December [1]. Group 1 - Great Wall Motors achieved a total vehicle sales of 1,323,672 units in 2025 [1] - The year-on-year growth in vehicle sales was 7.33% [1] - New energy vehicle sales for the entire year amounted to 403,653 units [1]

智通财经APP讯，长城汽车(601633.SH)发布产销快报，2025年实现汽车销量1,323,672台，同比增长 7.33%。其中，新能源车1-12月累计销售403,653台。 ...

Core Viewpoint - The company reported a total vehicle sales of 1,323,672 units for the year 2022, reflecting a year-on-year growth of 7.33% [1] Group 1: Sales Performance - Total vehicle sales for December 2022 reached 124,020 units [1] - Total vehicle production for December 2022 was 116,812 units [1] - Cumulative sales of new energy vehicles for December 2022 amounted to 38,922 units [1] Group 2: Yearly Performance - Cumulative sales of new energy vehicles for the year 2022 reached 403,653 units [1] - Year-on-year growth data for new energy vehicle sales was not disclosed [1]

本公告乃由长城汽车股份有限公司（「本公司」）自愿刊发。 证券代码：601633 证券简称：长城汽车 公告编号：2026-001 转债代码：113049 转债简称：长汽转债 长城汽车股份有限公司 2025 年 12 月产销快报 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。 特此公告。 长城汽车股份有限公司董事会 2026年1月1日 1 本公司董事会谨此宣布，本公司于2025年12月产销量详细如下(单位:台)： | 车型 | | | 销量 | | | | | | 产量 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 月度同比 | | 年度同比 | | | | 月度同比 | | 年度同比 | | | | | 本月 | 去年同期 | 增减(%) | 本年累计 | 去年同期 | 增减(%) | 本月 | 去年同期 | 增减(%) | 本年累计 | 去年同期 | 增减(%) | | 哈弗品牌 | 66 ...

Core Viewpoint - Great Wall Motors (601633) is significantly behind its sales target for 2025, achieving only 33.09% of the goal with 132.37 million vehicles sold in 2025, while the target was set at 400 million vehicles [2] Group 1: Sales Performance - In 2025, Great Wall Motors reported total sales of 132.37 million vehicles, a year-on-year increase of 7.33%, but this is only 33.09% of the 400 million vehicle target [2] - The company’s overseas sales reached 506,100 vehicles, surpassing the sales of new energy vehicles, which totaled 403,600 units [2] - December sales were disappointing, with a total of 124,000 vehicles sold, reflecting an 8.33% year-on-year decline, and the Haval brand saw a 20.34% drop in sales [2] Group 2: Financial Performance - For the first three quarters of 2025, Great Wall Motors reported revenue of 153.58 billion yuan, a 7.96% increase year-on-year, but net profit fell by 16.97% to 8.635 billion yuan [3] - In Q3 alone, revenue was 61.25 billion yuan, up 20.51% year-on-year, while net profit decreased by 31.23% to 2.298 billion yuan [3] - Sales expenses surged to 7.948 billion yuan from 5.110 billion yuan in the previous year, while R&D expenses increased to 6.636 billion yuan from 6.210 billion yuan [3] Group 3: Strategic Goals and Investments - The chairman of Great Wall Motors, Wei Jianjun, set ambitious targets in June 2021, aiming for annual sales of 4 million vehicles, with 80% being new energy vehicles and revenue exceeding 600 billion yuan by 2025 [2] - The company plans to invest a total of 100 billion yuan in R&D over the next five years [2] - Great Wall Motors has been focusing on building new channels to connect directly with users and increasing marketing efforts for new models and technologies [3]

Core Viewpoint - The founder and chairman of Great Wall Motors, Wei Jianjun, emphasizes that China lacks true high-end automotive brands, including his own, and that high-end does not equate to high price or flashy technology [2][3]. Group 1: High-End Brand Definition - Wei Jianjun argues that many Chinese automotive brands claiming to be high-end are merely high-end products, lacking the essential brand value and integrity [3][4]. - He believes that a true high-end brand must establish a clear value proposition in the minds of consumers, built on "correct value propositions" and "unwavering integrity" [4]. Group 2: Safety and Luxury - The emphasis on "safety is the greatest luxury" reflects Wei's fundamental defense of luxury, addressing the frequent software issues in modern vehicles and advocating for accountability [4]. - This approach contrasts with other manufacturers that engage in public relations games during crises, positioning Great Wall's brand value as rooted in honesty and reliability [4]. Group 3: Profit Model Reconstruction - Great Wall Motors is adopting a core strategy of "one vehicle, multiple powertrains, multiple categories, and multiple forms," aiming to reconstruct the profit model through a platform-based approach [5]. - The company has a comprehensive range of engine options, which allows for cost reduction in development, manufacturing, and logistics, ultimately enhancing market competitiveness [5][6]. Group 4: Global Market Adaptation - The strategy includes adapting to different global energy structures and driving habits, allowing for greater flexibility in international markets [6]. - Wei Jianjun notes that Great Wall has the highest average selling price among Chinese automakers, but clarifies that this is due to product value rather than brand value [6]. Group 5: Leadership Challenges - The frequent changes in CEO positions at Great Wall Motors are attributed to the immense pressure associated with the role, which requires a comprehensive skill set [7][8]. - Wei Jianjun acknowledges the challenges faced by leaders in the highly competitive Chinese automotive market, where traditional experiences may not apply [7]. Group 6: Brand Evolution and Communication - The frequent leadership changes reflect ongoing trials and adjustments in Great Wall's journey toward high-end branding, indicating a shift towards direct consumer engagement [8]. - Wei Jianjun's self-reflection on his leadership capabilities highlights the need for adaptability in the evolving automotive landscape [8]. Group 7: Long-Term Vision for High-End Branding - The nine-year journey of Great Wall Motors is characterized by a pursuit of confidence and a commitment to establishing a foothold in the international market [9]. - The launch of the new Blue Mountain Intelligent Advanced Edition signifies a step towards achieving true high-end brand status, emphasizing the importance of cost control and quality in building brand reputation [9].