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） | 证券代码：601633 | 证券简称：长城汽车 | 公告编号：2025-117 | | --- | --- | --- | | 转债代码：113049 | 转债简称：长汽转债 | | 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 第八屆董事會第四十二次會議決議公告」。 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9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。 職工董事： ...

（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） 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* 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 .1 0B 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 公司關於公司股票期權限制行權期間的提示性公告」。 承董事會命 長城汽車股份有限公司 公司秘書 李紅栓 ，2025 9 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。 職工董事：盧彩娟女士。 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 海外監管公告 长城汽车股份有限公司 关于公司股票期权限制行权期间的提示性公告 本公司董事会 ...

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 關於調整購買理財產品額度的公告」。 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9月24日 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 。 海外監管公告 | 证券代码：601633 | 证券简称：长城汽车 | 公告编号：2025-116 | | --- | --- | --- | | 转债代码：113049 | 转债简称：长汽转债 | | 长城汽车股份有限公司 关于调整购买理财产品额度的公告 本公司董事会及全体董事保证本公 ...

Core Insights - The Great Wall V6 Cannon has officially launched, showcasing its performance and reliability through successful participation in various off-road competitions, including winning six stages in the T2 production group at the 4500 km Rally of the Silk Road and securing top positions in the Dunhuang 1000 Off-Road Endurance Race [1][7] Design and Performance - The V6 Cannon features a short wheelbase lightweight design with a length of 2745 mm, enhancing its capability in navigating small terrains and sand dunes. The vehicle has a ground clearance of 240 mm, an approach angle of 33°, a departure angle of 22°, and a breakover angle of 26°, which collectively improve its all-terrain performance [2] - Equipped with a 3.0T V6 engine, the V6 Cannon delivers a maximum net power of 260 kW and a peak torque of 500 N·m, while also incorporating a 48V electric motor to balance power and fuel efficiency. The vehicle's cooling system has been significantly enhanced, achieving a maximum cooling capacity of 100 kW [4] Upgraded Features - Built on the Tank platform, the V6 Cannon has undergone structural optimizations to improve weight distribution and handling. The vehicle's climbing ratio has reached 63.5, with a single wheel maximum torque of 6872 N·m, indicating superior climbing capabilities. The upgraded dual-direction adjustable nitrogen shock absorbers provide 64 different damping combinations for various terrains [6] - The V6 Cannon is equipped with a high-performance four-wheel-drive system capable of handling a torque of 3300 N·m, along with features such as electronic differential locks, crawl mode, tank turn, and six all-terrain driving modes. The chassis is constructed from 99% high-strength steel, enhancing its strength and torsional rigidity for extreme off-road conditions [6] Market Positioning - With its competition-validated performance, factory modification convenience, and competitive pricing, the V6 Cannon aims to deliver a high-level off-road driving experience to a broader audience. The company plans to continue innovating in vehicle categories to meet diverse consumer needs for travel and off-road adventures [7]

Core Viewpoint - The Chinese lithium battery industry is accelerating its global presence driven by strong demand in electric vehicles and energy storage, despite facing challenges such as price wars and geopolitical uncertainties [1] Group 1: Industry Trends - In the first eight months of 2025, China's lithium-ion battery exports exceeded 3.003 billion units, marking an 18.66% year-on-year increase, with export value reaching $48.296 billion, up 25.79% [1] - The industry is experiencing a significant price war, particularly in the electric vehicle and energy storage sectors, with prices for energy storage systems dropping over 80% in the past three years [2][4] Group 2: Historical Lessons - The current price competition in the new energy sector mirrors the historical decline of the Chinese motorcycle industry in the 1990s, where aggressive pricing led to a loss of market trust and quality issues [2][4] - The decline in quality due to price cuts could result in a loss of overseas markets and damage the reputation of Chinese products globally [4] Group 3: Policy Responses - The Chinese government is implementing a series of anti-involution policies starting in 2024 to regulate competition in the lithium battery and new energy vehicle sectors, aiming to prevent a repeat of past industry failures [5][6] - New regulations, including the revised Anti-Unfair Competition Law, prohibit selling below cost, providing a legal basis to combat price dumping [5] Group 4: Market Adjustments - As a response to the anti-involution policies, some companies are adjusting their strategies, moving away from aggressive pricing to prioritize quality [6][7] - The lithium battery material market is showing signs of recovery, with prices for key materials like lithium hexafluorophosphate beginning to rise [7] Group 5: Sustainable Development - The focus is shifting towards a collaborative ecosystem across the entire supply chain, emphasizing the importance of maintaining healthy profit margins for all players involved [9] - The industry is encouraged to prioritize technological and quality advancements over price competition to establish a sustainable growth path [10]

证券之星消息，9月24日乘用车板块较上一交易日下跌2.47%，上汽集团领跌。当日上证指数报收于 3853.64，上涨0.83%。深证成指报收于13356.14，上涨1.8%。乘用车板块个股涨跌见下表： 从资金流向上来看，当日乘用车板块主力资金净流出9.27亿元，游资资金净流入2.67亿元，散户资金净流 入6.6亿元。乘用车板块个股资金流向见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净点比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 601127 | 赛力斯 | 6873.26万 | 1.38% | -7316.25万 | -1.47% | 442.99万 | 0.09% | | 601238 广汽集团 | | 1853.07万 | 7.62% | 678.23万 | 2.79% | -2531.30万 | -10.41% | | 601633 长城汽车 | | -207.19万 | -0.71% | 11.97万 | 0.04% | 195.22万 | ...

Core Insights - The global automotive industry is undergoing a restructuring phase, with Chinese automotive exports expected to accelerate by 2025, leading to a projected production scale of nearly 30 million vehicles by 2030 for Chinese brands [1][2] - The penetration rate of new energy vehicles (NEVs) in China is anticipated to exceed 50% by 2025, positioning Chinese brands as leaders in the domestic market [2] - Global consumer awareness of electric and intelligent technologies has been established, prompting a rapid transition to NEVs among European, American, and Japanese automakers [2] Industry Overview - The transformation towards electric and intelligent vehicles in China is nearly complete, with a significant market share achieved by local brands [2] - Chinese automotive exports are expected to maintain their position as the largest globally, with a shift towards deeper international expansion for domestic brands [2] - The demand for NEVs in non-Chinese markets is projected to increase, driven by both supply and demand dynamics, leading to a potential "Davis Double Play" opportunity for the Chinese supply chain [2] Company Recommendations - Recommended companies for investment include leading Chinese automakers with established export strategies such as BYD, Leap Motor, Great Wall Motors, Geely, and Xpeng [3] - International component suppliers with strong global presence and technological leadership, such as Minth Group, Fuyao Glass, Sanhua Intelligent Controls, Changshu Automotive Trim, and Coboda, are also highlighted as potential beneficiaries of the NEV transition [3]

Core Insights - The article discusses the emergence of the Ora 5 as a potential disruptor in the global electric vehicle market, particularly in the A-class segment, amidst a backdrop of economic challenges and evolving consumer preferences [2][9][11] Market Trends - The automotive industry is witnessing a shift from A0 to A-class electric vehicles, driven by technological advancements and changing consumer demands for higher quality and personalized features [2][7] - There is a notable gap in the market for A-class electric vehicles that combine technology, personalization, and high quality, which the Ora 5 aims to fill [2][9] Product Development - The Ora 5 is positioned as a flagship product for the Ora brand, with significant investment of 3 billion yuan and three years of development, set to be unveiled at a tasting event on September 25 [4][11] - The design of the Ora 5 emphasizes a unique aesthetic to differentiate it from competitors, appealing to younger consumers seeking individuality [6][9] Technological Advancements - The Ora 5 is expected to incorporate advanced technologies, including laser radar for high-level intelligent driving capabilities, which could enhance its competitive edge in the market [14] - The vehicle is built on a new platform that addresses common issues faced by new entrants, ensuring better performance and functionality [14][15] Global Market Strategy - Long-term experience in the SUV and pickup markets positions the Ora 5 favorably for global competition, leveraging insights into consumer preferences and regulatory requirements across different regions [15][17] - The existing customer base of over 2 million vehicles sold globally provides a strong foundation for the Ora 5's market entry and expansion [17]

Core Viewpoint - The article discusses the emergence of the Ora 5 as a potential disruptor in the global pure electric vehicle market, particularly in the A-class segment, highlighting its unique design, technological advancements, and the strategic positioning of the brand in response to market demands [2][11][23]. Industry Trends - Economic downturns have led to a demand for substantial premium products across all consumer sectors, including the automotive industry, where A0-class electric vehicles have gained popularity due to their affordability, style, and environmental benefits [2]. - The transition from A0-class to A-class electric vehicles is marked by the entry of luxury brands like BMW and Mercedes, as well as domestic brands like NIO, indicating a shift in consumer preferences towards higher quality and more technologically advanced vehicles [2][9]. Product Positioning - The Ora 5 is positioned to fill the gap in the market for high-quality, personalized, and technologically advanced A-class electric vehicles, addressing the current shortcomings of existing products in terms of pricing, intelligence, and safety [2][4]. - The design of the Ora 5 emphasizes a unique aesthetic to differentiate itself from competitors, aiming to attract younger consumers seeking individuality [7][11]. Technological Advancements - The Ora 5 is expected to incorporate advanced technologies, including laser radar for high-level intelligent driving capabilities, which could enhance its competitive edge in the market [16]. - The vehicle is built on a new platform that addresses common issues faced by traditional sedans, such as inadequate off-road capability and stability, making it suitable for a wider range of consumer needs [16][17]. Global Market Strategy - Long-term experience in the SUV and pickup markets positions the Ora 5 to leverage global market insights, ensuring it meets diverse consumer preferences and regulatory requirements [19][22]. - With over 2 million units sold globally, the existing customer base will support the Ora 5's entry into international markets, enhancing its potential for success [23].

Core Viewpoint - The Great Wall V6 Cannon pickup has been launched with a price of 229,800 yuan, designed specifically for desert conditions based on the intelligent professional off-road tank platform [1]. Group 1: Product Features - The V6 Cannon features a robust design with a length of 4963 mm, width of 1975 mm, height of 1950 mm, and a wheelbase of 2745 mm, providing a ground clearance angle of 33 degrees and a departure angle of 22 degrees [11]. - It is equipped with a self-developed 3.0T V6 gasoline engine, delivering a maximum power of 265 kW and a peak torque of 500 Nm, paired with a 9AT transmission [11]. - The vehicle includes advanced off-road capabilities such as a BorgWarner part-time four-wheel drive system, low-speed four-wheel drive, and various off-road accessories like a winch and water fording kit [11]. Group 2: Promotional Offers - The company has introduced several promotional offers including a 15,000 yuan trade-in gift, a 5,000 yuan loyalty gift for existing Great Wall vehicle owners, and three free maintenance services for the first non-commercial vehicle owner [6][3]. - Financing options include a two-year interest-free plan for amounts up to 110,000 yuan, available from Great Wall's financial services [6][3]. - The promotional period for these offers is from September 23, 2025, to October 31, 2025, with specific conditions for eligibility [3].