Group 1 - GAC Group recently launched a new range extender technology called "Star Source" during the Haobo HL range extender version launch event [2] - This launch follows previous technological advancements under the "Star Spirit" brand, including intelligent technology, safety systems, and AI panoramic views [2] - The new technology addresses common issues faced by range extender vehicles, such as increased fuel consumption, power degradation, and heightened noise and vibration when battery levels are low [2] Group 2 - GAC Group has been working on range extender technology since 2010, participating in the national 863 program for the development and industrialization of range-extended electric vehicles [2] - The company launched China's first range extender sedan, the GAC Trumpchi GA5 REV, in 2014 and has since made significant advancements in powertrain and core technologies [2] - The new "Star Source" technology enhances the efficiency of the range extender, improves power response, and optimizes NVH performance, while also utilizing an AI energy control platform for better energy management [2][3] Group 3 - The industry standard for range extender fuel-to-electric conversion is approximately 3.4 kWh generated from 1 liter of fuel [3] - The "Star Source" technology aims to improve this conversion rate and reduce energy losses in the electric drive system, effectively addressing high fuel consumption during low battery conditions [3] - The first model equipped with the "Star Source" technology, the Haobo HL range extender version, has been officially launched, with plans to apply this technology to other GAC brands, including GAC Trumpchi and GAC Aion [3]

Core Viewpoint - The implementation of the revised "Regulations on Payment of Small and Medium-sized Enterprises" has revealed that only a few of the 17 major automotive companies have fulfilled their commitment to pay suppliers within 60 days, highlighting challenges in cash flow management and organizational capabilities in the industry [1][2][3]. Group 1: Company Commitments - 17 automotive companies, including major players like China FAW, GAC Group, and BYD, initially pledged to adhere to a 60-day payment term for suppliers [1]. - As of now, only three companies—China FAW, GAC, and Seres—have successfully implemented the 60-day payment term [2]. - Companies like Xpeng have signed supplementary agreements with some suppliers to formalize the 60-day payment commitment, although some suppliers are still in the process of signing [2][3]. Group 2: Industry Challenges - The average accounts payable turnover days for domestic listed automotive companies reached 182 days in 2024, indicating a long-standing issue of delayed payments in the industry [3]. - Reducing the payment cycle from over 100 days to 60 days would require automotive companies to release over 1 trillion yuan in cash flow, posing significant pressure on an industry already facing declining profit margins [3]. - The transition to a 60-day payment term involves complex organizational management challenges, including procurement, contract review, financial payments, and tax documentation [3]. Group 3: Regulatory Environment - The new regulations prohibit companies from forcing small and medium-sized enterprises to accept non-cash payment methods, which could extend payment periods [3]. - China FAW has committed to 100% cash payments to recognized small and medium-sized suppliers starting from June [3]. - Regulatory bodies are encouraged to enhance oversight to ensure compliance with the 60-day payment commitment and to address issues of hidden payment delays [4].

日前，广汽集团发布公告，董事会审议通过了《关于广汽埃安投资华望汽车的议案》。同意控股子 公司广汽埃安新能源汽车股份有限公司（简称"广汽埃安"）向华望汽车技术（广州）有限公司（简 称"华望汽车"）增资6亿元。完成本次增资后，广汽集团直接持有华望汽车71.43％股权，通过广汽埃安 间接持有华望汽车28.57％股权。 同日，广汽宣布华望汽车城市招募计划正式启动，优先招募城市为北京、天津、上海、南京、深圳、成 都、重庆、武汉等40城。据介绍，华望汽车坚持少商多店原则，以"1＋N"（用户中心＋体验中心）渠 道模式进行网点布局。 错失先机 重拾旧好 广汽与华为的渊源颇深，但经历曲折。 首先，与昊铂不同的是，华望汽车在技术赋能上从一开始就强调与华为的深度合作，借助华为在智能汽 车领域的技术，试图在产品的智能化方面打造差异化竞争优势。华为在辅助驾驶、智能座舱、智能车控 等方面拥有多年的技术积累和丰富的经验，其辅助驾驶系统在复杂路况下的表现更加稳定可靠，智能座 舱的交互体验也更加流畅便捷。华望汽车搭载华为的智能解决方案，有望在智能驾驶体验、人机交互等 方面实现跨越式发展，为用户带来更加优质的产品体验，从而形成差异化竞争。 在产 ...

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分內容而產生或 因依賴該等內容而引致的任何損失承擔任何責任。 GUANGZHOU AUTOMOBILE GROUP CO., LTD. 廣州汽車集團股份有限公司 ( 於中華人民共和國註冊成立的股份有限公司 ) (股份編號: 2238) 海外監管公告 本公告乃廣州汽車集團股份有限公司（「本公司」）按香港聯合交易所有限公司證 券上市規則第 13.10B 條發出。 隨附之文件乃本公司於二零二五年八月二十五日在中華人民共和國上海證券交 易所網頁登載之《廣州汽車集團股份有限公司關於召開 2025 半年度業績說明會 的公告》，僅供參閱。 承董事會命 廣州汽車集團股份有限公司 馮興亞 董事長 中國廣州，二零二五年八月二十五日 於本公告日期，本公司的執行董事為馮興亞，本公司的非執行董事為陳小沐、鄧蕾、 周開荃、王亦偉及洪素麗，以及本公司的獨立非執行董事為趙福全、肖勝方、王克 勤及宋鐵波。 H 股代码：02238 H 股简称：广汽集团 A 股代码：601238 A 股简称：广汽集团 ...

A 股代码：601238 A 股简称：广汽集团 公告编号：临 2025-056 H 股代码：02238 H 股简称：广汽集团 广州汽车集团股份有限公司 关于召开 2025 半年度业绩说明会的公告 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： 会议召开时间：2025 年 9 月 2 日（星期二）11:00-12:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 8 月 26 日（星期二）至 9 月 1 日（星期一）16:00 前 登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 ir@gac.com.cn 进行提问。公司将在说明会上对投资者普遍关注的问题进行回答。 广州汽车集团股份有限公司（下称"公司"或"本公司"）将于 2025 年 8 月 29 日发布公司 2025 年半年度报告，为便于广大投资者更全面深入地了解公司 20 ...

Market Overview - The Shanghai Composite Index closed at 3855.41 points, above the six-month moving average, with an increase of 0.78% [1] - The total trading volume of A-shares reached 26,577.24 billion yuan [1] Stocks Breaking the Six-Month Moving Average - A total of 64 A-shares have surpassed the six-month moving average today [1] - Notable stocks with significant deviation rates include: - ST Yilianzhong (18.16%) - Kun工科技 (6.71%) - Huazhi Wine (5.98%) [1] Stock Performance Details - The following stocks showed notable performance: - ST Yilianzhong: Increased by 19.90% with a turnover rate of 6.52% [1] - Kun工科技: Increased by 10.57% with a turnover rate of 10.49% [1] - Huazhi Wine: Increased by 7.16% with a turnover rate of 5.21% [1] - Other stocks with smaller deviation rates include: - Huaxia Happiness - Lihigh Food - Huaihe Energy, which just crossed the six-month line [1]

Market Overview - The Shanghai Composite Index closed at 3883.56 points, above the six-month moving average, with an increase of 1.51% [1] - The total trading volume of A-shares reached 31,769.48 million yuan [1] Stocks Breaking the Six-Month Moving Average - A total of 83 A-shares have surpassed the six-month moving average today [1] - Notable stocks with significant deviation rates include: - ST Yilianzhong (18.16%) - Kunlun Technology (7.79%) - Huazhi Wine (7.67%) [1] Detailed Stock Performance - The following table summarizes the performance of selected stocks that broke the six-month moving average: | Stock Code | Stock Name | Daily Change (%) | Turnover Rate (%) | Six-Month Average (yuan) | Latest Price (yuan) | Deviation Rate (%) | | --- | --- | --- | --- | --- | --- | --- | | 300096 | ST Yilianzhong | 19.90 | 6.74 | 4.08 | 4.82 | 18.16 | | 831152 | Kunlun Technology | 11.70 | 11.86 | 20.98 | 22.62 | 7.79 | | 300755 | Huazhi Wine | 8.88 | 5.96 | 18.21 | 19.61 | 7.67 | | 600539 | Shitou Co. | 10.02 | 11.47 | 11.30 | 11.97 | 5.94 | | 603198 | Yingjia Wine | 7.22 | 2.79 | 44.61 | 47.08 | 5.54 | | 000002 | Vanke A | 9.15 | 8.16 | 6.81 | 7.16 | 5.20 | | 688646 | ST Yifei | 5.53 | 4.39 | 31.37 | 32.82 | 4.63 | | 003041 | True Love Home | 4.93 | 6.05 | 28.37 | 29.59 | 4.29 | | 839371 | Oufu Industry | 4.59 | 4.82 | 11.15 | 11.62 | 4.20 | | 601933 | Yonghui Supermarket | 5.04 | 5.91 | 5.03 | 5.21 | 3.66 | | 600325 | Huafa Co. | 4.19 | 4.88 | 5.05 | 5.22 | 3.37 | | 601238 | GAC Group | 3.04 | 1.05 | 7.89 | 8.13 | 3.00 | | 600657 | Xinda Real Estate | 3.16 | 2.50 | 4.13 | 4.25 | 2.91 | | 603108 | Runda Medical | 3.00 | 7.99 | 18.43 | 18.90 | 2.54 | | 600988 | Chifeng Gold | 4.03 | 5.40 | 24.67 | 25.30 | 2.54 | | 000069 | Overseas Chinese Town A | 3.86 | 3.88 | 2.36 | 2.42 | 2.44 | | 600872 | Zhongju Gaoxin | 3.29 | 4.97 | 19.37 | 19.78 | 2.14 | | 003000 | Jin Zai Food | 2.46 | 7.48 | 13.07 | 13.35 | 2.13 [1]

Core Viewpoint - GAC Group's investment in Huawang Automotive marks a new phase in its strategic partnership with Huawei, aiming to penetrate the 300,000 RMB electric vehicle market with a focus on high-end intelligent vehicles [1][2] Group 1: Investment and Ownership Structure - GAC Group has increased its investment in Huawang Automotive by 600 million RMB, achieving a direct ownership of 71.43% and an indirect ownership of 28.57% through GAC Aion, thus gaining absolute control over Huawang Automotive [1] - Huawang Automotive was established with an initial investment of 1.5 billion RMB from GAC Group, serving as a key platform for deepening collaboration with Huawei [2] Group 2: Product Development and Market Strategy - Huawang Automotive plans to launch its first model in 2026, targeting the luxury intelligent electric vehicle segment with two planned models, including a mid-to-large sedan and an SUV, utilizing both pure electric and range-extended powertrains [2] - The collaboration will leverage Huawei's technology for smart driving software and intelligent cockpit systems, while GAC Group will focus on vehicle development and supply chain management [3] Group 3: Market Position and Challenges - GAC Group's overall vehicle sales growth has slowed, necessitating a high-end strategy to overcome development bottlenecks, as evidenced by a 15.38% year-on-year decline in vehicle sales in July [4] - The "Panyu Action" reform initiative is aimed at improving operational performance and sustainable development, with Huawang Automotive being a crucial component of this strategy [5] - Despite the promising outlook for Huawang Automotive, challenges include competition from established brands like Tesla and BYD, as well as resource allocation issues due to Huawei's partnerships with other automakers [6]

Group 1 - The core viewpoint of the articles highlights the rising prominence of range-extended electric vehicle (REEV) technology in the automotive industry, with major companies actively developing and launching new models featuring this technology [1][2][4] - GAC Group's brand Haobo has launched the Haobo HL range-extended version, utilizing the new "Xingyuan Range-Extended" technology, which boasts an industry-leading fuel-to-electricity conversion rate of 3.73 kWh/L and an electric drive efficiency of 99% [1] - Zhiji Automotive has introduced its self-developed "Star" super range-extended technology in collaboration with CATL, featuring the mass-produced 66 kWh and 800V dedicated range-extended battery [1][2] Group 2 - The market for range-extended vehicles is evolving towards larger battery capacities and ultra-fast charging capabilities, driven by both market demand and technological innovation [2] - CATL has been a key player in supporting the development of range-extended vehicles, with its "Xiaoyao" battery designed for range-extended hybrid models launched in late 2024 [2] - Companies like Xinwangda and Honeycomb Energy are also making strides in the market, with Xinwangda's lithium iron phosphate battery achieving over 300 km of range and Honeycomb Energy securing supply orders for multiple range-extended models [3] Group 3 - The sales growth of range-extended electric vehicles is expected to slow down by 2025, with a reported decline in retail sales of range-extended vehicles by 11.4% year-on-year in July 2025 [3] - The market is witnessing a shift in the structure of new energy vehicle sales, with the proportion of pure electric vehicles increasing from 43% to 64% compared to range-extended vehicles [3] - The competitive landscape for range-extended electric vehicles is becoming more diverse, with joint ventures and established brands entering the market to replicate the success of domestic brands [4]

Core Viewpoint - The launch of the Haopu HL Extended Range version marks a significant advancement in GAC Group's "Xingyuan Extended Range" technology, addressing key industry pain points such as high fuel consumption, slow acceleration, and noise during low battery conditions, thus creating a new era of extended range experience [1][20]. Product Features - The Haopu HL Extended Range version features a large battery capacity of 60 kW·h, providing a pure electric range of 350 kilometers, which meets the commuting needs of most users for a week [7]. - The vehicle boasts a comprehensive range of 1,369 kilometers and a low fuel consumption of only 6.7L when the battery is depleted, offering an economical travel experience [7]. - It incorporates the unique 800V/5C ultra-fast charging technology, allowing users to gain 210 kilometers of range in just 10 minutes of charging, significantly reducing waiting times [9]. Customer Benefits - Customers purchasing the vehicle will enjoy lifetime free charging, free home charging pile, free basic maintenance, free data plan, and lifetime warranty on the three electric systems, along with a 2-year interest-free financing policy and first-year assisted driving insurance [3][11]. - The vehicle is positioned to disrupt the new energy SUV market in the 260,000 to 300,000 yuan price range with its comprehensive offerings [3][19]. Luxury and Comfort - The Haopu HL Extended Range version adopts a "fully equipped" philosophy, including luxury features typically found in vehicles priced at 500,000 yuan, all as standard [13]. - It features NASA-standard zero-gravity seats with 18-point heat stone massage and 12 massage modes, providing a premium seating experience [15]. - The vehicle is equipped with advanced technology, including the Qualcomm Snapdragon 8295P chip, enhancing voice interaction and overall user experience [15]. Safety and Stability - The vehicle's chassis utilizes a front double-wishbone and rear five-link aluminum alloy suspension, equipped with intelligent adjustable shock absorbers and air springs, improving ride comfort and stability [17]. - It has achieved a 2024 version C-NCAP five-star certification, ensuring high safety standards with a robust body structure [17]. Future Prospects - The "Xingyuan Extended Range" technology will be applied to new models from GAC's Haopu, GAC Trumpchi, and GAC Aion brands, catering to diverse user needs in the future [22].