人民财讯11月10日电，11月10日，广汽集团（601238）与宁德时代（300750）正式签署全面战略合作协 议。根据协议，广汽集团与宁德时代将开展十年长期合作，以此为基石充分发挥各自在智造、技术、资 源与市场等方面的优势，共同构建体系化生态圈与协同发展新格局。 在具体合作方面，双方将加强智能底盘、换电等领域的研发合作，助力广汽旗下乘用车品牌打造具有竞 争力的新能源汽车产品。此外，双方将在电池租赁、联合建站等业务领域开展长期深度合作。 ...

北京商报讯（记者 蔺雨葳）11月10日，广汽集团发布的公告显示，近日广汽集团与本田、本田中国及 广汽本田订立增资协议，决定将广汽本田的注册资本由5.41亿美元扩大至8.67亿美元。广汽集团、本田 及本田中国将按各自于广汽本田的出资比例，为增资事项合计认缴3.26亿美元。 ...

Core Insights - JD.com, GAC Group, and CATL jointly launched the "National Good Car" Aion UT Super, with a battery rental price of 49,900 yuan and a full vehicle price of 89,900 yuan, significantly lower than market expectations, achieving the goal of "affordable good cars" [1][4] - The vehicle will be exclusively sold on JD.com, allowing users to book test drives and pay deposits through the JD app [1][3] Pricing and Subsidies - The Aion UT Super offers various financial incentives, including government subsidies and brand-specific discounts, with battery rental users receiving a 2,000 yuan subsidy per vehicle and full vehicle buyers receiving a 4,000 yuan subsidy [4][5] - The effective price for battery rental users can drop to 45,400 yuan, while full vehicle buyers can expect a price of approximately 85,900 yuan after subsidies [4] Value-Added Services - The three parties introduced additional value-added services, such as a limited-time reduction in battery rental fees from 499 yuan to 399 yuan per month, and discounts on battery management service fees for full vehicle buyers [5] - Early adopters can also benefit from exclusive offers, including a special new car package and discounted insurance rates [5] Price Protection and User Rights - A "180-day price protection" policy guarantees that users who purchase before December 31 will receive a tenfold compensation for any price drops within 180 days after purchase [8] - Additional benefits include full subsidies for vehicle tax in case of delivery delays and a 100% credit for battery rental fees if users decide to buy the battery within three years [8] Strategic Collaboration - The collaboration between JD.com, GAC Group, and CATL integrates JD's user insights and sales capabilities with GAC's manufacturing and CATL's battery technology, aiming to redefine the value standard of "national good cars" [3][8]

Core Viewpoint - GAC Group is advancing its capital operations through GAC Honda by acquiring a 50% stake in Dongfeng Honda Engine and increasing its capital to achieve full ownership, thereby enhancing its supply chain for core components [1][2]. Group 1: Equity Acquisition and Capital Increase - GAC Honda signed a contract with Dongfeng Motor Group on October 30 to acquire a 50% stake in Dongfeng Honda Engine for 1.172 billion RMB (approximately 1.287 billion HKD) [2]. - To achieve full ownership, GAC Honda will increase its registered capital from 541 million USD to 867 million USD, with a total capital increase of 326 million USD (approximately 2.544 billion HKD) [2]. - GAC Group will contribute 50% of the capital increase, amounting to 163.1 million USD (approximately 1.172 billion RMB), while Honda and Honda China will contribute through their existing stakes [2][3]. Group 2: Financial Performance and Valuation of Dongfeng Honda Engine - Dongfeng Honda Engine's revenue is projected to improve significantly, increasing from 9.566 billion RMB in 2023 to 17.852 billion RMB in 2024, with a turnaround from a net loss of 228 million RMB to a profit of 84 million RMB [4]. - The independent valuation of Dongfeng Honda Engine shows a net asset book value of 2.029 billion RMB and an assessed value of 2.345 billion RMB, reflecting an increase of 316 million RMB (15.60%) [3][4]. Group 3: Strategic Implications and Financial Impact - The transaction aims to enhance GAC Honda's integrated operations in the engine sector, improving supply chain stability and reducing transaction costs [4]. - Post-transaction, Dongfeng Honda Engine will be included in GAC Group's consolidated financial statements, supporting the group's transition towards smart and electric vehicle production [4].

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。 GUANGZHOU AUTOMOBILE GROUP CO., LTD. 2238 關連交易 增資協議 背景 於2025年10月30日，本公司重大共同控制實體廣汽本田與東風汽車集團訂立產權交易 合同，據此，東風汽車集團（作為賣方）同意出售而廣汽本田（作為買方）同意收購東風 本田發動機50%的股權，代價為人民幣1,172,485,400元（折合約1,286,847,541港元），該 交易通過廣東聯合產權交易中心公開掛牌轉讓進行。 增資協議 於2025年11月10日，本公司與本田、本田中國及廣汽本田訂立增資協議，據此，廣汽 本田的註冊資本將由541,000,000美元擴大至867,215,960美元。本公司、本田及本田中 國將按彼等各自於廣汽本田之出資比例，為增資事項合計認繳326,215,960美元（折合 約2,544,484,488港元），惟受增資協議之條款及條件所規限。 上市規則之涵義 股權轉讓事項 ...

Core Viewpoint - GAC Group has entered into a significant equity transaction with Dongfeng Motor Group, involving the sale of a 50% stake in Dongfeng Honda Engine to GAC Honda for approximately RMB 1.1725 billion [1] Group 1: Equity Transaction Details - On October 30, 2025, GAC Honda and Dongfeng Motor Group signed an equity transaction contract [1] - The transaction involves Dongfeng Motor Group selling a 50% stake in Dongfeng Honda Engine for about RMB 1.1725 billion [1] - Following the contract, on November 10, 2025, GAC Honda, Honda, and Honda China entered into a capital increase agreement [1] Group 2: Capital Increase Agreement - The registered capital of GAC Honda will increase from USD 541 million to approximately USD 867 million [1] - The total capital increase amounting to about USD 326 million (approximately HKD 2,544,484,488) will be subscribed by GAC Group, Honda, and Honda China according to their respective shareholding ratios [1] - GAC Group will contribute approximately RMB 1.1725 billion as part of the capital increase, subject to the terms and conditions of the agreement [1] Group 3: Shareholding Structure - After the completion of the capital increase, GAC Group, Honda, and Honda China will maintain their respective shareholding ratios in GAC Honda, holding 50%, 40%, and 10% respectively [1]

Core Viewpoint - GAC Group is engaging in a significant equity transaction involving GAC Honda and Dongfeng Motor Group, which will enhance its capital structure and maintain ownership ratios among stakeholders [1] Group 1: Equity Transaction Details - GAC Honda has entered into a property transaction contract with Dongfeng Motor Group to acquire 50% of Dongfeng Honda Engine for approximately RMB 1.1725 billion [1] - Following the property transaction, an equity increase agreement was signed on November 10, 2025, which will raise GAC Honda's registered capital from USD 541 million to approximately USD 867 million [1] - The total capital contribution for the equity increase will amount to about USD 326 million (approximately HKD 2.544 billion), with GAC Group contributing around RMB 1.1725 billion [1] Group 2: Ownership Structure - Post completion of the capital increase, GAC Group, Honda, and Honda China will maintain their respective ownership stakes in GAC Honda at 50%, 40%, and 10% [1]

Core Viewpoint - GAC Group has entered into a capital increase agreement with Honda, Honda China, and GAC Honda, which will raise GAC Honda's registered capital from $541 million to $867.22 million [1] Group 1 - The total capital increase amounts to $326.22 million, equivalent to approximately HKD 2.54 billion, which will be subscribed according to the respective shareholding ratios of GAC Group, Honda, and Honda China in GAC Honda [1]

格隆汇11月10日丨广汽集团(02238.HK)公告，于2025年10月30日，公司重大共同控制实体广汽本田与东 风汽车集团订立产权交易合同，据此，东风汽车集团(作为卖方)同意出售而广汽本田(作为买方)同意收 购东风本田发动机50%的股权，代价为人民币1,172,485,400元(折合约1,286,847,541港元)，该交易通过广 东联合产权交易中心公开挂牌转让进行。 于2025年11月10日，公司与本田、本田中国及广汽本田订立增资协议，据此，广汽本田的注册资本将由 5.41亿美元扩大至8.67亿美元。本公司、本田及本田中国将按彼等各自于广汽本田之出资比例，为增资 事项合计认缴326,215,960美元(折合约2,544,484,488港元)，惟受增资协议之条款及条件所规限。 股权转让事项完成后，广汽本田将持有东风本田发动机50%的股权，而公司于东风本田发动机之应占权 益将变更为25%。 ...

於2025年10月30日，本公司重大共同控制實體廣汽本田與東風汽車集團訂立產權交易 合同，據此，東風汽車集團（作為賣方）同意出售而廣汽本田（作為買方）同意收購東風 本田發動機50%的股權，代價為人民幣1,172,485,400元（折合約1,286,847,541港元），該 交易通過廣東聯合產權交易中心公開掛牌轉讓進行。 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。 增資協議 GUANGZHOU AUTOMOBILE GROUP CO., LTD. 2238 關連交易 增資協議 背景 - 1 - 一項須予披露交易，故股權轉讓事項毋須遵守該章有關公告及股東批准的規定。就股 權轉讓事項而言，東風汽車集團屬獨立第三方。因此，股權轉讓事項並不構成上市規 則第14A章項下本公司一項關連交易，且毋須遵守該章披露規定。 於2025年11月10日，本公司與本田、本田中國及廣汽本田訂立增資協議，據此，廣汽 本田的註冊資本將由541,000,000美元擴大至867,21 ...