Core Insights - The launch of the new Tank 400 by Great Wall Motors is positioned as a "trendy off-road SUV" with a price range of 249,800 to 319,800 yuan, featuring gasoline, diesel, and Hi4 hybrid versions [2][3] Group 1: Product Features - The Tank 400 emphasizes three main characteristics: trendy appearance, robust performance, and luxurious intelligence, catering to various usage scenarios including urban commuting and outdoor off-roading [2] - The vehicle's design adopts a mech-style aesthetic aimed at young consumers, highlighting personalized expression [2] - Multiple powertrain options are available, including fuel and hybrid variants, with Hi4-Z and Hi4-T versions expanding electric off-road capabilities [2] Group 2: Market Strategy - Great Wall Motors has accumulated nearly 800,000 users globally for its Tank brand, establishing a significant off-road community [3] - The introduction of the Tank 400 is seen as a strategic move to further engage the young market and expand the "trendy off-road" niche [3] Group 3: User Experience - The launch event featured various themed exhibition areas and testimonials from users in different fields, highlighting the vehicle's spaciousness for skiing equipment, trunk extensibility, driving assistance systems, external power supply capabilities, and night vision features [2]

Core Insights - The launch event for the new Tank 400 SUV, themed "潮酷越野新时代," took place at Great Wall's technology center, showcasing a vehicle designed to meet diverse travel needs with a full power matrix [1] - The Tank 400 is available in multiple configurations, including gasoline, diesel, and Hi4 series, with prices ranging from 249,800 to 319,800 yuan [1] - The vehicle emphasizes three core advantages: trendy appearance, robust performance, and luxurious smart features, targeting urban youth as its primary user demographic [1][3] Product Features - The launch featured three experience officers who highlighted the vehicle's capabilities, including the Hi4-Z hybrid architecture for complex terrains, spacious interior with foldable rear seats, and smart temperature-controlled refrigerator [3] - Additional features discussed included the trunk's expandability, advanced driver assistance systems, and infrared night vision, catering to outdoor activities and creative photography [3] - The Tank 400 aims to serve as an all-around vehicle for various lifestyles, including skiing, outdoor adventures, and photography, positioning itself as a "full-scenario trendy lifestyle vehicle" [3] Market Positioning - The Tank brand has accumulated nearly 800,000 users globally and has established a strong community of off-road enthusiasts in China [5] - The company plans to leverage this launch to enhance engagement with younger consumers through trendy themed activities and user co-creation initiatives [5]

Core Insights - The automotive market in October 2025 experienced strong sales performance, driven by trade-in programs and favorable policies for new energy vehicles (NEVs) [1][3] - Major automotive groups reported positive year-on-year and month-on-month growth, indicating a robust market during the traditional sales peak [1][3] Sales Performance Summary - SAIC Motor sold 454,000 vehicles in October, a 13% increase year-on-year and a 3.18% increase month-on-month, achieving 81% of its annual sales target [2][3][9] - BYD sold 442,000 vehicles, marking an 11.62% month-on-month increase but a 12% year-on-year decline, with specific brand performances detailed [2][3] - Geely's sales reached 307,000 vehicles, up 35% year-on-year and 12% month-on-month, setting a new monthly sales record [2][3] - China FAW sold 305,000 vehicles, an 8.1% increase year-on-year, with a breakdown of sales between domestic and joint venture brands [2][4] - Chery sold 281,000 vehicles, a 3.3% increase year-on-year, with NEV sales growing by 54.7% [2][4] - Changan sold 278,000 vehicles, an 11% year-on-year increase [2][5] - BAIC Group reported sales of 160,000 vehicles, an 11% increase year-on-year [2][6] - Great Wall Motors sold 143,000 vehicles, a 22.5% increase year-on-year [2][6] Year-to-Date Sales and Targets - Cumulative sales for the first ten months of 2025 show Geely leading with 83% of its annual target achieved [9] - SAIC, BYD, Changan, and China FAW are all around 80% of their annual targets, indicating a strong likelihood of meeting their goals [9] - Chery reported a cumulative sales figure of 2.289 million vehicles, achieving a historical best for the same period [9] - BAIC's completion rate is at 57%, indicating a significant gap to its annual target [9] Market Outlook - The automotive market is expected to become more competitive as companies enter the year-end sales push [10] - The end of the NEV purchase tax exemption on December 31, 2025, is prompting companies to offer incentives to maintain sales momentum [10][11] - Predictions for the fourth quarter suggest continued support from vehicle scrappage programs and new model launches [11]

Core Insights - Great Wall Motors announced the launch of the new Tank 400 on November 6, with a starting price of 249,800 yuan [1] Group 1 - The Tank 400 is positioned as a new model in Great Wall Motors' lineup, indicating the company's strategy to expand its product offerings in the SUV segment [1]

Core Insights - The launch of the new Tank 400 by Great Wall Motors features gasoline, diesel, and hybrid versions, with a price range of 249,800 to 319,800 yuan [1] - The Tank brand has been established for four and a half years, achieving nearly 800,000 users and capturing 50% of the domestic market share in its segment, while exporting to over 30 countries and regions [1] Product Details - The dimensions of the new Tank 400 are 4964 mm in length, 1970 mm in width, and 1905 mm in height, with a wheelbase of 2850 mm [1] - The interior includes a 15.6-inch central control screen with 2.5K resolution, a third-generation vehicle system, and advanced voice interaction capabilities [1] - Additional features include a 12.3-inch full LCD instrument panel and a head-up display [1] - The new Hi4-Z model offers terrain adaptability, equipped with four-wheel drive and a differential lock [1]

Core Points - The new Tank 400 has been launched with gasoline, diesel, and hybrid versions, priced between 249,800 to 319,800 yuan [1] - The Tank brand, established 4.5 years ago, has gained nearly 800,000 users and holds a 50% market share in its domestic segment, with exports to over 30 countries and regions [1] Group 1 - The dimensions of the new Tank 400 are 4964mm × 1970mm × 1905mm, with a wheelbase of 2850mm [3] - The interior features a 15.6-inch central control screen with 2.5K resolution, third-generation vehicle machine system, and large model voice interaction capabilities [3] - Additional interior equipment includes a 12.3-inch full LCD instrument panel and a head-up display [3] Group 2 - The new Tank 400 introduces the Hi4-Z model, which has some terrain adaptability, equipped with four-wheel drive and a differential lock [4]

| 证券代码：601633 | 证券简称：长城汽车 | 公告编号：2025-124 | | --- | --- | --- | | 转债代码：113049 | 转债简称：长汽转债 | | 长城汽车股份有限公司 关于召开 2025 年第三季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： 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 11 月 20 日（星期四）至 11 月 26 日（星期 三）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 zqb@gwm.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。 长城汽车股份有限公司（以下简称"公司"）已于 2025 年 10 月 24 日发布公司 2025 年第三季度报告，为便于广大投资者更全面深入 地了解公司 2025 年第三季度经营成果、财务状况，公司计划于 2025 年 11 月 27 日（星期四）09:00-1 ...

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：2333（港幣櫃檯）及82333（人民幣櫃檯） 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 關於召開2025年第三季度業績說明會的公告」。 承董事會命 長城汽車股份有限公司 公司秘書 李紅栓 中國河北省保定市 ，2025年11月6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。 | 证券代码：601633 | 证券简称：长城汽车 | 公告编号：2025-124 | | --- | --- | --- | | 转债代码：113049 | 转债简称：长汽转债 | | 长城 ...

Core Insights - The passenger car sector experienced a slight increase of 0.22% on November 6, with Haima Automobile leading the gains [1] - The Shanghai Composite Index closed at 4007.76, up by 0.97%, while the Shenzhen Component Index rose by 1.73% to 13452.42 [1] Passenger Car Sector Performance - Notable stock performances included: - Haima Automobile (000572) closed at 9.00, up by 2.39% with a trading volume of 6.5994 million shares and a turnover of 6.006 billion yuan [1] - BYD (002594) closed at 97.52, up by 1.80% with a trading volume of 402,000 shares and a turnover of 3.898 billion yuan [1] - Great Wall Motors (601633) closed at 22.81, up by 1.60% with a trading volume of 163,800 shares and a turnover of 373 million yuan [1] - GAC Group (601238) closed at 7.88, up by 1.16% with a trading volume of 368,800 shares and a turnover of 291 million yuan [1] - Changan Automobile (000625) closed at 12.31, up by 0.24% with a trading volume of 556,900 shares and a turnover of 685 million yuan [1] - SAIC Motor (600104) closed at 15.88, down by 0.13% with a trading volume of 412,000 shares and a turnover of 655 million yuan [1] - BAIC Blue Valley (600733) closed at 8.25, down by 2.37% with a trading volume of 1,004,400 shares and a turnover of 832 million yuan [1] - Seres (601127) closed at 142.13, down by 2.67% with a trading volume of 399,200 shares and a turnover of 5.663 billion yuan [1] Fund Flow Analysis - The passenger car sector saw a net outflow of 1.492 billion yuan from institutional investors, while retail investors contributed a net inflow of 1.246 billion yuan [1] - Specific fund flows included: - BYD experienced a net inflow of over 224 million yuan from institutional investors, but a net outflow of 193 million yuan from speculative funds [2] - SAIC Motor had a net inflow of 48.72 million yuan from institutional investors, with a net outflow of 51.19 million yuan from speculative funds [2] - GAC Group saw a net inflow of 12.08 million yuan from institutional investors, but a net outflow of 1.34 million yuan from retail investors [2] - Great Wall Motors had a net outflow of 412,460 yuan from institutional investors, while retail investors contributed a net inflow of 1.13 million yuan [2] - Changan Automobile faced a significant net outflow of 71.20 million yuan from institutional investors, but retail investors provided a net inflow of 56.70 million yuan [2] - BAIC Blue Valley had a substantial net outflow of 1.42 billion yuan from institutional investors, while speculative funds saw a net inflow of 713 million yuan [2] - Seres experienced a net outflow of 702 million yuan from institutional investors, with a net inflow of 217 million yuan from speculative funds [2] - Haima Automobile had a net outflow of 858 million yuan from institutional investors, but retail investors contributed a net inflow of 666 million yuan [2]

Core Insights - Hebei Province's industrial added value increased from 1.18135 trillion yuan to 1.49085 trillion yuan from 2020 to 2024, with a manufacturing value added accounting for 26.3% of GDP, 1.4 percentage points higher than the national average [1] - The province has developed two trillion-level industries in advanced steel and high-end equipment, along with several hundred billion-level industries, showcasing significant industrial growth [1] Group 1: Industrial Growth - The annual growth rate of industrial added value for large-scale industries is 6.2%, with operating income rising from 4.21 trillion yuan to 5.17 trillion yuan [1] - Hebei has established six national advanced manufacturing clusters, including high-end equipment in Baoding and emergency equipment in the Beijing-Tianjin-Hebei region [1] Group 2: Specialty Industries - Hebei has created 107 provincial-level key specialty industry clusters, with 90 clusters establishing shared factories and over 10,000 shared devices, involving more than 13,000 enterprises [2] - The province has nurtured 589 "leading" enterprises within these clusters, driving the collaborative development of over 3,200 cluster enterprises [2] Group 3: Enterprise Development - The number of large-scale industrial enterprises in Hebei increased by 4,286 from the end of 2020, reaching a total of 18,525 [3] - Hebei aims to cultivate 30 national-level manufacturing champions and 456 "little giant" enterprises, enhancing the vitality and competitiveness of small and medium-sized enterprises [3]