关于安徽江淮汽车集团股份有限公司 向特定对象发行股票申请文件的 审核问询函的回复 容诚专字[2025]230Z1202 号 容诚会计师事务所(特殊普通合伙) 中国·北京 关于安徽江淮汽车集团股份有限公司 向特定对象发行股票申请文件的 审核问询函的回复 容诚会计师事务所（特殊普通合伙） 总所：北京市西城区阜成门外大街 22 号 1 幢 10 层 1001-1 至 1001-26 (100037) TEL:010-6600 1391 FAX:010-6600 1392 E-mail:bj@rsmchina.com.cn https://www.rsm.global/china/ 容诚专字[2025]230Z1202 号 上海证券交易所： 安徽江淮汽车集团股份有限公司（以下简称"江淮汽车""发行人"或"公司"） 于 2025 年 1 月 27 日收到上海证券交易所（以下简称"上交所"）出具的《关于 安徽江淮汽车集团股份有限公司向特定对象发行股票申请文件的审核问询函》 （上证上审（再融资）〔2025〕21 号）（以下简称"审核问询函"），容诚会 计师事务所（特殊普通合伙）（以下简称"申报会计师"或"本所"）作为公司本 ...

Core Viewpoint - The "Light Truck First Influence Index" for major domestic light truck brands shows a decline in scores, indicating a potential decrease in market influence and interest in the light truck sector [1][16]. Group 1: Influence Index and Rankings - In June 2025, the total score for the "Light Truck First Influence Index" was 1431, down 17.1% from May 2025 and down 4.8% year-on-year from June 2024 [1]. - The top three brands in the index are Jianghuai 1 Card, FAW Liberation Light Truck, and China National Heavy Duty Truck HOWO Light Truck, with scores of 306, 202, and 200 respectively [2][16]. Group 2: Brand Performance Highlights - Jianghuai 1 Card delivered 100 units of its new energy quality milk special vehicle to Kunming, showcasing its capabilities in cold chain logistics [8][20]. - FAW Liberation Light Truck signed a contract for 500 units of the Tiger 6G electric light truck, emphasizing its commitment to the new energy sector [21]. - China National Heavy Duty Truck HOWO launched a new CNG light truck product matrix, highlighting its technological advancements in green logistics [13][23]. - The Dongfeng Light Truck successfully delivered vehicles for the 618 shopping festival, focusing on user needs with its new model [25]. - The Remote Light Commercial Vehicle brand ranked fifth, showcasing its innovative ethanol-hydrogen electric light truck technology, which significantly reduces operational costs [27]. Group 3: Market Trends and Future Outlook - The light truck market is entering a traditional off-season, prompting brands to enhance their promotional efforts in July [29]. - The focus on new energy vehicles, product launches, and large orders remains a key trend in the industry, indicating a shift towards sustainable logistics solutions [4][20].

Group 1 - The core viewpoint of the article highlights the successful collaboration between JAC Motors, CATL, and the innovative "Chocolate Battery Swap" technology, marking a significant advancement in the commercial vehicle battery swapping infrastructure in China [1][2]. Group 2 - The first commercial vehicle utilizing the "Chocolate Battery Swap" technology has completed joint debugging, indicating a key step forward in the battery swapping ecosystem for commercial vehicles [1].

Group 1 - Volkswagen leads the automotive industry with a market value of 545.6 billion, showing a 6.79% increase [2] - General Motors follows with a market value of 501.77 billion, reflecting a 3.54% increase [2] - Porsche has a significant growth of 15.8%, reaching a market value of 468.58 billion [2] Group 2 - Ford's market value stands at 460.88 billion, with a 3.57% increase [2] - Maruti Suzuki shows a decline of 3.94%, with a market value of 459.19 billion [2] - Mahindra & Mahindra's market value is 442.25 billion, with a slight decrease of 0.31% [2] Group 3 - Honda's market value is 405.95 billion, increasing by 9.01% [2] - Hyundai's market value is 383.16 billion, with a growth of 9.78% [2] - Geely's market value is 216.85 billion, reflecting a 4.38% increase [2] Group 4 - Changan Automobile has a market value of 156.1 billion, with a 1.33% increase [3] - Subaru's market value is 126.39 billion, showing a 3.06% increase [3] - NIO's market value is 76.54 billion, with a growth of 1.97% [3]

Group 1: Automotive Industry Overview - The automotive industry is experiencing varied performance among major players, with Volkswagen leading at 541.3 billion, followed by General Motors at 508.5 billion and Ford at 469.63 billion [2] - Notable declines are observed in companies like Honda, which saw a decrease of 16.38%, and Stellantis with a decline of 15.53% [2] - Emerging companies such as Li Auto and Xpeng are showing growth, with Li Auto increasing by 8.17% to 275.2 billion and Xpeng decreasing by 8.81% to 167.66 billion [2] Group 2: Company Performance Metrics - Volkswagen's revenue stands at 541.3 billion, reflecting a slight increase of 0.59% [2] - General Motors reported a revenue of 508.5 billion, with a significant decline of 10.48% [2] - Ford's revenue is at 469.63 billion, showing a decrease of 8.9% [2] - Other notable companies include Porsche at 453.57 billion (-3.2%), and Mahindra at 442.32 billion (-0.31%) [2] Group 3: Emerging and Regional Players - Companies like SAIC Motor and Geely are performing steadily, with SAIC at 281.27 billion (+1.46%) and Geely at 211.2 billion (+1.28%) [2] - New entrants such as Leapmotor and VinFast Auto are also in the mix, with Leapmotor at 88.93 billion and VinFast at 85.13 billion, the latter experiencing a decline of 3.15% [3] - NIO and Zeekr are also noteworthy, with NIO at 76.12 billion (-2.23%) and Zeekr at 66.01 billion (+0.03%) [3]

Industry Developments - The National Development and Reform Commission and three other departments announced a plan to promote the construction of high-power charging facilities, aiming for over 100,000 units by the end of 2027, with a focus on open access for self-built networks by electric vehicle companies [2] - China has officially released the international standard ISO 34505:2025 for autonomous vehicle testing scenarios, which includes evaluation processes and testing methods for autonomous driving systems [4] - A new mandatory national standard for passenger car braking systems will take effect on January 1, 2026, introducing requirements for electric transmission braking systems and single-pedal braking [5] Company News - Honda has suspended the development of a large electric SUV due to anticipated declines in electric vehicle demand in the U.S. market [6] - Audi has decided to pause its price increase plans in the U.S. market after experiencing a 19% year-on-year decline in sales for the second quarter, marking the sixth consecutive quarter of sales decline [7] - LG Energy Solution expects a 152% year-on-year increase in operating profit for the second quarter, despite a 9.7% decrease in revenue [8][9] - Nissan is considering issuing bonds worth approximately $4 billion, with plans for five, seven, and ten-year dollar bonds [10] - Chery Automobile has restructured its organization, establishing a domestic business group led by Li Xueyong [11] - NIO and JAC's joint venture company has been dissolved, with a registration capital of 510 million RMB [12] - Zhongtong Bus reported a 2.66% year-on-year decrease in sales for June, with 1,026 units sold [13] - Byton's associated company has been listed for operational abnormalities due to failure to disclose annual reports on time [14] - Huatai Automobile Group has been executed for over 500 million RMB, with multiple legal issues reported [15] - Sichuan Yema Automobile has undergone significant executive changes, with a new legal representative appointed [16]

Group 1 - The U.S. stock market experienced a collective decline, with the Dow Jones falling by 0.94%, Nasdaq by 0.92%, and S&P 500 by 0.79% [3] - The U.S. will impose a 25% tariff on all products from Japan and South Korea starting August 1, leading to significant drops in stocks of companies like Nissan (down over 7%) and LG Display (down over 8%) [3] - International oil prices surged, with WTI crude oil rising by 1.37% to $67.92 per barrel and Brent crude oil increasing by 1.84% to $69.56 per barrel [4] Group 2 - The People's Bank of China has increased its gold reserves for the eighth consecutive month, reaching 7.39 million ounces (approximately 2298.55 tons) as of the end of June [7] - The State Administration of Foreign Exchange reported that China's foreign exchange reserves rose by $32.2 billion to $3317.4 billion by the end of June, marking a 0.98% increase [7] Group 3 - The Shanghai Stock Exchange and China Securities Index Co. will launch the Shanghai Stock Exchange Specialized and Innovative Index on July 21, which will include the top 50 companies from the Sci-Tech Innovation Board [10] - Longxin Technology, a major player in the semiconductor industry, has begun the IPO process, indicating a positive development trend in the sector [16][17] Group 4 - BYD has partnered with Hong Kong University of Science and Technology to establish a joint laboratory focused on embodied intelligence, investing tens of millions of Hong Kong dollars for future operations [18] - Alibaba's Tongyi has officially open-sourced the WebSailor network intelligence model, showcasing significant performance advantages over other models [20] Group 5 - NIO and Jianghuai Automobile's joint venture company has announced its intention to dissolve, which is closely related to NIO's plans for independent production [27][28] - Donghai Securities has been fined a total of 60 million yuan due to significant omissions and false records in a major asset restructuring project from 2015 [23]

Core Viewpoint - The dissolution of Jianglai Advanced Manufacturing Technology (Anhui) Co., Ltd. indicates the end of the manufacturing collaboration between NIO and JAC Motors, while other forms of cooperation in the smart electric vehicle sector will continue [1][3][4]. Group 1: Company Actions - Jianglai Company has announced its dissolution, with the reason cited as a resolution to dissolve, effective from June 10, 2025, to July 24, 2025 [2]. - The collaboration between NIO and JAC Motors in manufacturing began in 2016, where JAC produced NIO's vehicles under its brand [3][6]. - In 2021, NIO and JAC Motors signed a joint venture agreement to establish Jianglai Company, focusing on manufacturing management, supply chain management, and technical consulting [6]. Group 2: Future Collaborations - Although the manufacturing partnership has ended, NIO and JAC Motors will continue their collaboration in the battery swap business, having signed a strategic cooperation framework agreement in 2024 [4][6]. - NIO has obtained independent factory and production qualifications, leading to the termination of the manufacturing collaboration with JAC Motors [6].

2025.07. 07 本文字数：751，阅读时长大约1分钟 作者 | 第一财经 葛慧 2025年7月7日，一则关于蔚来汽车与江淮汽车合资公司注销的消息引发关注。第一财经从接近蔚来 人士处得知，此次合资公司注销与蔚来汽车实现独立生产相关。 有信息显示，江来先进制造技术（安徽）有限公司（下称"江来公司"）于近日发布注销备案公告，注 销原因为"决议解散"，公告期自6月10日起至7月24日止。 公开信息显示，江来公司成立于2021年3月，注册资本为5.1亿人民币，经营范围主要包括道路机动 车辆生产、生产线管理服务以及供应链管理服务等。 事实上，蔚来与江淮汽车的合作可追溯至2016年。当时双方宣布将共同开展新能源汽车项目。江淮 汽车为蔚来汽车提供生产服务。 2021年3月4日，江淮汽车与蔚来签署合资意向书，双方在双方新能源汽车制造合作的基础上更进一 步，引入资本层面的合作，成立合资公司。江来公司主要聚焦工厂整车及零部件的制造管理、供应链 管理、技术咨询等。 2023年12月5日，蔚来在港交所发布公告称，将从江淮汽车收购第一先进制造基地和第二先进制造 基地的生产设备和资产，不含税总价约为31.6亿元。此前，蔚来所有产品 ...

Group 1 - NIO and JAC Motors' joint venture, Jianglai Advanced Manufacturing Technology (Anhui) Co., Ltd., has been officially dissolved due to a resolution for dissolution, which is linked to NIO's achievement of independent production capabilities [1][4] - The dissolution of the joint venture does not affect the existing cooperation between NIO and JAC Motors, as both companies have established a strong friendship since their strategic partnership began in 2016 [3] - NIO has acquired production equipment and assets from JAC Motors for approximately 3.16 billion yuan, marking the end of their manufacturing collaboration [4] Group 2 - NIO's CEO, Li Bin, indicated that manufacturing costs would decrease by 10% if NIO manufactures its vehicles independently [5] - In June, NIO delivered 24,900 vehicles, representing a year-on-year increase of 17.5%, with a total of 114,200 vehicles delivered in the first half of the year, up 30.57% year-on-year [5]