Core Insights - Great Wall Motors reported significant growth in Q2 2023, achieving record sales, revenue, and net profit figures [1] - The company aims for high-quality development through a comprehensive product matrix and global expansion strategy by 2025 [1][2] Sales and Financial Performance - In Q2 2023, Great Wall Motors sold 313,000 vehicles, a year-on-year increase of 10.07% and a quarter-on-quarter increase of 21.87% [1] - Revenue for the same period reached 52.348 billion yuan, reflecting a year-on-year growth of 7.78% and a quarter-on-quarter growth of 30.81% [1] - Net profit stood at 4.586 billion yuan, marking a year-on-year increase of 19.46% and a remarkable quarter-on-quarter increase of 161.91% [1] Strategic Initiatives - The company is focusing on a long-term strategy that includes a full-scenario and full-power product matrix, alongside advancements in intelligence and global expansion [1] - Great Wall Motors is implementing the ONE GWM brand strategy and an "ecological overseas" strategy to enhance market share [1] Technological Advancements - In the field of intelligence, Great Wall Motors has established an end-to-end intelligent driving model and a new AI data intelligence system, achieving industry-leading levels in core technology areas [2] - The new intelligent driving system, Coffee Pilot Ultra, and the Coffee OS 3 smart space system have received positive user feedback, with Coffee Pilot Plus enabling full-scenario NOA without high-precision maps [2] Global Expansion - Great Wall Motors has expanded its overseas sales channels to over 1,400, transitioning from "product export" to "ecological export" [2] - Recent engagements include a meeting between the company's chairman and the Brazilian president, discussing further development in Brazil, and receiving recognition in Australia and Chile for its products [2]

| 证券代码：601633 | 证券简称：长城汽车 | 公告编号：2025-096 | | --- | --- | --- | | 转债代码：113049 | 转债简称：长汽转债 | | 长城汽车股份有限公司 关于"长汽转债"可选择回售的第三次提示性公告 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。 重要内容提示： 本次满足回售条款而"长汽转债"持有人未在上述回售期内申报并实施 回售的，本计息年度（即 2025 年 6 月 10 日至 2026 年 6 月 9 日）不能再行 使回售权。 风险提示：可转债持有人选择回售等同于以 100.20 元/张（含当期利息） 卖出持有的"长汽转债"。截至目前，"长汽转债"的收盘价格高于本次回售 价格，投资者选择回售可能会带来损失，敬请投资者注意风险。 长城汽车股份有限公司股份有限公司（以下简称"本公司"或"公司"）的 A 股股票自 2025 年 6 月 10 日至 2025 年 7 月 21 日连续三十个交易日的收盘价格 低于公司公开发行的 A 股可转换公司债券（以下简称"长汽转债"）当期 ...

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。 長 城 汽 車 股 份 有 限 公 司 GREAT WALL MOTOR COMPANY LIMITED* （ 於中華人民共和國註冊成立的股份有限公司 ） 股份代號 ：02333（港幣櫃台）及82333（人民幣櫃台） 海 外 監 管 公 告 此海外監管公告是根據香港聯合交易所有限公司證券上市規則第13.10B條發出。以下為長 城汽車股份有限公司於上海證券交易所網站（www.sse.com.cn）所刊發之「長城汽車股份 有限公司關於"長汽轉債"可選擇回售的第三次提示性公告」。 承董事會命 長城汽車股份有限公司 聯席公司秘書 李紅栓 中國河北省保定市 ，2025年7月24日 於本公告日期 ，董事會成員如下： 執行董事：魏建軍先生 、趙國慶先生及李紅栓女士。 非執行董事：何平先生。 獨立非執行董事：樂英女士、范輝先生及鄒兆麟先生。 * 僅供識別 本次满足回售条款而"长汽转债"持有人未在上述回售期内申 ...

Core Viewpoint - The emergence of Great Wall Motors' ultra-luxury sports car project, named "Great Wall Brand Ultra-Luxury BG," is gaining attention, with a focus on high quality and low volume production [3][5]. Group 1: Project Overview - Great Wall Motors' ultra-luxury car project is personally supervised by Chairman Wei Jianjun, with a new organization established for this purpose [3]. - The project aims to develop a sports car featuring a 4.0T V8 twin-turbo engine combined with an electric motor, targeting a total output of around 1000 horsepower and a 0 to 100 km/h acceleration time of under 2.5 seconds [3]. Group 2: Market Context - The ultra-luxury car market is currently experiencing a decline in sales, with notable brands like Bentley, Rolls-Royce, Ferrari, and Lamborghini reporting significant year-on-year decreases in sales [5]. - Despite the small market share of ultra-luxury vehicles, the high brand premium presents a new direction for Great Wall Motors, potentially enhancing brand recognition and long-term profit growth [5]. Group 3: Financial Performance - Great Wall Motors reported a decline in operating profit of 15.35% year-on-year, amounting to 6.862 billion yuan, attributed to increased investments in new products and marketing [5]. - The company experienced a slight increase in overall sales of 1.81% year-on-year, with specific brands like Tank and pickup trucks showing mixed performance [6]. Group 4: International Expansion - Great Wall Motors is exploring international markets, including the United States, with plans to leverage partnerships, such as with FF, to enter these markets [6][7]. - The company has established a research and development center in the U.S. and is reassessing its European strategy while investigating opportunities in North America and Japan [7].

Core Viewpoint - Great Wall Motors is reportedly leveraging its partnership with FF, a U.S. automotive company founded by Jia Yueting, to facilitate its entry into the U.S. market [1] Group 1: Company Developments - Great Wall Motors has not yet confirmed its collaboration with FF regarding the U.S. market entry despite inquiries from the media [1] - The first model under FF's second brand, FX, named FX Super One, has faced allegations of design plagiarism from Great Wall Motors' Wei brand model, the Gaoshan 9 [1] - The FX Super One's promotional page initially included the term "Gaoshan 9," which was later removed, indicating potential issues with intellectual property [1] Group 2: Industry Implications - The plagiarism allegations suggest a deeper, possibly covert collaboration between Great Wall Motors and FF, raising questions about competitive practices in the automotive industry [1]

Group 1: Regulatory Developments - The Public Security Bureau will strengthen the regulatory management of "intelligent driving" systems, indicating that current systems do not possess true "autonomous driving" capabilities, which poses significant traffic safety risks and potential legal consequences for drivers [1] Group 2: Strategic Partnerships - Changan Automobile has announced a cross-industry collaboration with Haier Group, focusing on areas such as vehicle-home integration, automotive supply chain development, and global brand marketing, which may enhance market competitiveness and expand international presence [2] Group 3: Product Innovations - Great Wall Motors has teased a new luxury sports car, potentially competing with the Ferrari SF90, which could elevate the brand's image and attract high-end consumers, thereby broadening its product line [3] - Xiaoma Zhixing has received road testing permits for its seventh-generation autonomous driving vehicle in Beijing, Guangzhou, and Shenzhen, marking significant progress in L4-level autonomous driving technology and enhancing market competitiveness [4]

Core Viewpoint - The company announces the second notice regarding the conditional repurchase of its convertible bonds, "Changqi Convertible Bonds," due to the stock price falling below a certain threshold, allowing bondholders to sell their bonds back to the company at a specified price [1][2]. Summary by Sections Repurchase Terms and Price - The repurchase price is set at 100.20 RMB per bond, including accrued interest and tax [1][4]. - The repurchase period is from July 29, 2025, to August 4, 2025, with funds to be disbursed on August 7, 2025 [1][4]. - During the repurchase period, the "Changqi Convertible Bonds" will stop being convertible into shares [1][4]. - The repurchase is not mandatory, and bondholders who do not exercise their repurchase rights during the specified period will lose the right for the current interest year [1][2]. Conditions for Repurchase - The repurchase clause is activated when the company's A-share stock price is below 70% of the current conversion price for 30 consecutive trading days [2][3]. - The calculation for accrued interest is based on a formula that considers the bond's face value, interest rate, and the number of days in the interest period [3][4]. Repurchase Process - Bondholders can choose to sell back part or all of their unconverted bonds during the repurchase period [4][5]. - The repurchase must be executed through the Shanghai Stock Exchange trading system, and once confirmed, the repurchase request cannot be revoked [4][5]. - If the total face value of the convertible bonds in circulation falls below 30 million RMB due to the repurchase, trading will continue until the end of the repurchase period [5].

Group 1 - The core viewpoint of the article highlights the significant developments in the automotive industry, particularly focusing on Great Wall Motors' new supercar and General Motors' second-quarter financial performance [1][4][8]. Group 2 - Great Wall Motors' new supercar features a monocoque body and a two-door design, likely utilizing a rear-engine layout with the latest 4.0T twin-turbo V8 engine, and is expected to compete with the Ferrari SF90 [3]. - The new supercar aims to deliver impressive lap times and emotional value, indicating a strategic move towards high-performance vehicles [3]. Group 3 - Avita's new factory design has been revealed, with a production capacity of 350,000 units, supporting its goal of achieving global sales of 400,000 units by 2027 and launching 17 new models by 2030 [6]. Group 4 - General Motors reported a second-quarter sales figure of 974,000 units, a year-on-year decline of 6.3%, with revenue of $47.12 billion, down 1.8% [8]. - The company faced over $1.1 billion in losses due to Trump's 25% tariffs on imported vehicles and parts, leading to a 31.6% drop in adjusted EBIT to $3 billion and a 35.4% decrease in net profit to $1.9 billion [8]. - Despite the overall decline, GM's Chevrolet became the second-best-selling electric vehicle brand in the U.S., and Cadillac led in luxury electric vehicle sales, indicating progress in its electrification strategy [8].

Group 1 - Great Wall Motors plans to invest 800 million to 1 billion RMB in DeepRoute.AI, primarily for purchasing computing power cards [1] - DeepRoute.AI, founded in February 2019, focuses on advanced intelligent driving technology and has over 20,000 units of its driving solutions in production [1] - In November 2024, DeepRoute.AI secured a $100 million Series C funding round led exclusively by Great Wall Motors [1] Group 2 - DeepRoute.AI's VLA model is expected to enter mass production in Q3 2025 and is designed for commercial application, enhancing the driving capabilities of Great Wall's vehicles [2] - The VLA model, which supports both LiDAR and pure vision solutions, boasts strong reasoning capabilities and improved interpretability of driving decisions [2] - If Great Wall Motors successfully integrates the VLA model, it will significantly enhance the competitive edge of its vehicles in the intelligent driving market [2] Group 3 - The VLA model's production has faced delays due to reliance on the NVIDIA Thor chip, which has a computing power of 2000 TFLOPS, eight times that of Orin [3] - Industry observers note that after several rounds of eliminations, few intelligent driving solution providers remain, prompting Great Wall Motors to deepen its collaboration with DeepRoute.AI [3] - Great Wall Motors previously spun off its intelligent driving division, Haomo Zhixing, which faced strategic and technical challenges, impacting its high-level driving plans [3] Group 4 - Great Wall Motors is increasingly inclined to adopt external intelligent driving solutions, with DeepRoute.AI launching the first domestic solution that does not rely on high-precision maps [4] - The intelligent driving algorithms for Great Wall's upcoming models, such as the Weipai Lanshan and Weipai Gaoshan, will be provided by DeepRoute.AI [4] - In addition to DeepRoute.AI, Great Wall Motors is collaborating with Zhuoyue Technology to develop intelligent driving solutions for its budget models [4]

| 证券代码：601633 | 证券简称：长城汽车 | 公告编号：2025-095 | | --- | --- | --- | | 转债代码：113049 | 转债简称：长汽转债 | | 长城汽车股份有限公司 关于"长汽转债"可选择回售的第二次提示性公告 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。 重要内容提示： 本次满足回售条款而"长汽转债"持有人未在上述回售期内申报并实施 回售的，本计息年度（即 2025 年 6 月 10 日至 2026 年 6 月 9 日）不能再行 使回售权。 风险提示：可转债持有人选择回售等同于以 100.20 元/张（含当期利息） 卖出持有的"长汽转债"。截至目前，"长汽转债"的收盘价格高于本次回售 价格，投资者选择回售可能会带来损失，敬请投资者注意风险。 长城汽车股份有限公司股份有限公司（以下简称"本公司"或"公司"）的 A 股股票自 2025 年 6 月 10 日至 2025 年 7 月 21 日连续三十个交易日的收盘价格 低于公司公开发行的 A 股可转换公司债券（以下简称"长汽转债"）当期 ...