长城汽车股份有限公司 财务报表及审阅报告 截至二零二五年六月三十日止六个月期间 | 1 | | | | --- | --- | --- | | 2 | - | 5 | | 6 | - | 7 | | 8 | - | 9 | | 10 | - | 13 | | 14 | - | 143 | 审阅报告 德师报(阅)字(25)第 R00044 号 (第1页,共1页) 长城汽车股份有限公司全体股东: 2025年8月29日 WorldCl 智启非) 我们审阅了后附的长城汽车股份有限公司(以下简称"长城汽车")的财务报表,包括 2025年 6月 30日的合并及公司资产负债表,截至 2025年 6月 30 目止六个月期间的合并及公司利润 表、合并及公司现金流量表和合并及公司股东权益变动表以及财务报表附注。这些财务报表 的编制是长城汽车管理层的责任,我们的责任是在实施审阅工作的基础上对这些财务报表出 具审阅报告。 我们按照《中国注册会计师审阅准则第 2101 号 -- 财务报表审阅》的规定执行了审阅业 务。该准则要求我们计划和实施审阅工作,以对财务报表是否不存在重大错报获取有限保证。 审阅主要限于询问长城汽车有关人员和对财务 ...

Group 1 - The fourth-generation Changan CS55 PLUS features upgrades in exterior design, interior layout, and intelligent assistance configurations [1] - The vehicle adopts a new family design language with a boundary-less front grille and star-ring light groups, enhancing visual width [3] - Dimensions are 4550×1868×1675mm with a wheelbase of 2656mm, showing slight increases in length and width, while height is reduced [3] Group 2 - The Jietu Shanhai L7 PLUS is positioned as a mid-size SUV with a price range of 119,900 to 161,900 yuan, offering both 5-seat and 7-seat versions [4] - The vehicle features a distinctive front design with a continuous light strip and LED sources for improved nighttime visibility [5] - It is powered by a fifth-generation 1.5TGDI hybrid engine with a combined output of 265kW and a peak torque of 530Nm, offering a pure electric range of 220km [7] Group 3 - The Haval Dog PLUS has been officially pre-sold, featuring a new design language and a half-closed front grille [8] - The vehicle dimensions are 4705×1908×1780mm with a wheelbase of 2810mm, maintaining consistency with the previous model [10] - It continues to use a 1.5T turbocharged engine combined with an electric motor, offering various pure electric range options [12] Group 4 - Cadillac's 2025 model, the Cadillac Lyriq, is a significant electric product featuring a closed front grille and classic LED headlight design [15] - The vehicle's design includes a striking exterior with blacked-out wheels to enhance its presence [15] Group 5 - The Volvo XC70 has begun pre-sales with a price range of 299,900 to 329,900 yuan, set to launch on September 26 [21] - The vehicle features a closed front grille and distinctive Thor's Hammer daytime running lights for better recognition [23] - It has a length of 4815mm and a wheelbase of 2895mm, providing spacious interior space [25] Group 6 - The Jietu Zongheng G700 was showcased at the auto show and is planned for release in the third quarter [28] - The interior features a 92-inch AR-HUD and a 15.4-inch central control screen for enhanced usability [29] Group 7 - The new Lynk & Co 08 EM-P has received exterior upgrades for a sportier appearance, maintaining its classic headlight design [33] - It features a hybrid system with a maximum combined power of 436kW and various pure electric range options [35] Group 8 - The Cadillac XT5 Sailimu has dimensions of 4825×1915×1660mm and a wheelbase of 2848mm, with new color options [36] - The interior includes a 33-inch ultra-high-definition screen and enhanced comfort features [38] - The vehicle continues to use a 2.0T turbocharged engine with a 48V mild hybrid system [40] Group 9 - The Geely Galaxy M9 is a large 6-seat SUV that received over 40,000 orders within 24 hours of pre-sale, with a price range of 193,800 to 258,800 yuan [41] - The vehicle features a closed grille and continuous LED light strips, emphasizing a high-tech and futuristic feel [43] - It utilizes a new generation of hybrid technology with a comprehensive range exceeding 1500km [45]

Core Insights - Great Wall Motors (02333) reported a total revenue of 92.335 billion yuan for the six months ending June 30, 2025, representing a year-on-year increase of 0.99% [1] - The net profit attributable to shareholders decreased by 10.21% to 6.337 billion yuan, with basic earnings per share at 0.74 yuan [1] - The company sold a total of 568,852 vehicles in the first half of 2025, marking a year-on-year growth of 2.52%, with 160,435 of those being new energy vehicles, which saw a significant increase of 23.64% [1] Brand Performance - The Haval brand, positioned as a "global SUV expert," achieved sales of 323,702 units, reflecting an 8.89% year-on-year increase [2] - Haval's technological advancements include the Hi4 intelligent four-wheel drive hybrid technology and Coffee OS 3 smart cockpit system, enhancing user experience and brand value [2] - The second-generation Haval H9 won the T2.1 category at the 2025 Rally of China, showcasing its off-road reliability [2] Tank Brand Development - The Tank brand sold 104,129 units in the first half of 2025, reaching a global sales milestone of over 700,000 units [3] - The brand's "Four Full Strategy" includes a comprehensive vehicle lineup, a full power matrix, and solutions for various driving scenarios, emphasizing its commitment to user needs [3] - The Tank brand has expanded its global sales network to over 30 countries and regions, including Australia, Mexico, and the Middle East, while also achieving success in competitive events [3]

Core Insights - The company reported a total revenue of RMB 92.335 billion for the first half of 2025, reflecting a year-on-year growth of 0.99% [1] - Net profit attributable to shareholders decreased by 10.21% to RMB 6.337 billion, with basic earnings per share at RMB 0.74 [1] - The company is entering a new product cycle, which has led to an increase in sales and revenue, while investments in new models and technologies have impacted net profit [1] Sales Performance - The company sold a total of 568,852 vehicles in the first half of 2025, marking a year-on-year increase of 2.52% [2] - Sales of new energy vehicles reached 160,435 units, showing a significant growth of 23.64% compared to the previous year [2] Strategic Focus - The company is committed to the intelligent new energy vehicle sector, enhancing its market influence across its various brands, including Haval, Wey, Tank, Great Wall Pickup, Ora, Great Wall Soul, and Great Wall Commercial Vehicles [2] - The product range includes SUVs, sedans, pickups, MPVs, motorcycles, and heavy trucks, with a focus on both traditional and new energy powertrains [2] - The company aims to strengthen its off-road and global advantages while accelerating its transition to intelligent new energy vehicles [2]

Share Structure and Listings - The company reported a total of 8,558,945,933 shares issued as of June 30, 2025, including 6,240,169,933 A-shares and 2,318,776,000 H-shares[29]. - The A-shares are listed on the Shanghai Stock Exchange with a stock code of 601633, while H-shares are listed on the Hong Kong Stock Exchange with stock codes 02333 (HKD) and 82333 (RMB)[29]. - The company has a total of 100 shares per lot for A-shares and 500 shares per lot for H-shares[29]. Financial Performance - Total operating revenue for the first half of the year reached ¥92.33 billion, a year-on-year increase of 0.99%[35]. - Net profit attributable to shareholders decreased by 10.21% to ¥6.34 billion compared to the same period last year[35]. - The net profit after deducting non-recurring gains and losses fell by 36.39% to ¥3.58 billion[35]. - The company's total assets increased by 2.02% to ¥222.13 billion compared to the end of the previous year[35]. - Basic earnings per share decreased by 10.84% to ¥0.74[36]. - The weighted average return on net assets dropped by 2.51 percentage points to 7.56%[36]. - Total revenue for the period ending June 30, 2025, was RMB 92.33 billion, a 0.99% increase from RMB 91.43 billion for the same period in 2024[55]. - Vehicle sales revenue reached RMB 79.75 billion, up 1.04% from RMB 78.93 billion year-over-year[55]. - Gross profit decreased to RMB 16.97 billion, reflecting a 6.92% decline compared to RMB 18.24 billion in the previous year[55]. - The gross margin decreased by 1.57 percentage points to 18.38% from 19.95%[55]. Operational Highlights - The company is entering a new product cycle, aiming to enhance sales and operating revenue while accelerating the establishment of direct user channels[35]. - Significant investments in new vehicle models and technologies are being made to boost brand promotion[35]. - The company continues to focus on expanding its market presence in the SUV and pickup segments, leveraging its diverse brand portfolio[43]. - Great Wall Motors has established 9 R&D bases and 5 software R&D centers, with nearly 50,000 patent applications and over 30,000 authorized patents by June 2025, covering more than 40 countries and regions[44]. - The company has launched the Hi4 family of hybrid architectures, including four major structures, enhancing user experience with superior range and performance[46]. - Great Wall Motors has a global production layout of "10+3+N," with 10 manufacturing bases in China and 3 overseas, ensuring stable production and quality[47]. - The company has built over 360 retail centers and 50 delivery centers in the first half of the year, enhancing user experience through standardized services[48]. Market Trends and Sales - In the first half of 2025, the automotive industry saw production and sales of 15.62 million and 15.65 million vehicles, respectively, representing year-on-year growth of 12.5% and 11.4%[49]. - The passenger car market continued to perform well, with production and sales reaching 13.52 million and 13.53 million vehicles, reflecting year-on-year growth of 13.8% and 13%[50]. - New energy vehicle production and sales reached 6.97 million and 6.94 million units, with year-on-year growth of 41.4% and 40.3%, accounting for 44.3% of total new car sales[51]. - The export of vehicles reached 3.08 million units in the first half of the year, with a year-on-year increase of 10.4%, including a 75.2% increase in new energy vehicle exports[53]. - Total vehicle sales reached 568,852 units in the first half of 2025, reflecting a year-on-year increase of 2.52%[78]. - Sales of new energy vehicles amounted to 160,435 units, marking a significant year-on-year growth of 23.64%[78]. - Haval brand sold 323,702 units in the first half of 2025, achieving an 8.89% increase compared to the same period last year[80]. - Tank brand's sales reached 104,129 units, contributing to a total global sales milestone of over 700,000 units[80]. - Wey brand saw a remarkable sales increase of 60.34%, with 32,369 units sold in the first half of 2025[82]. - Great Wall Pickup achieved sales of 93,649 units in the first half of the year, a year-on-year increase of 4.01%, maintaining a nearly 50% market share in China[84]. Research and Development - The company continues to enhance its global sales network, now covering over 30 countries and regions[80]. - The introduction of the next-generation all-power intelligent platform is expected to enhance the company's competitive edge in the high-end new energy market[82]. - The company is committed to technological innovation and expanding its product offerings in the smart new energy sector[81]. - Great Wall Motors has developed the Hi4 family of hybrid technology, including four major architectures, enhancing power response efficiency by 20% and achieving over 1000 horsepower with a unique three-engine intelligent power structure[91]. - The company has established R&D systems in Germany, Japan, and India, and has set up three complete vehicle production bases in Thailand and Brazil, enhancing its global business layout[95]. Financial Management and Governance - The company has not faced any significant risks that could materially impact its production and operations during the reporting period[6]. - The financial information in the report is prepared in accordance with the Chinese Accounting Standards and relevant regulations[4]. - The company guarantees the truthfulness, accuracy, and completeness of the semi-annual report, with no false records or major omissions[7]. - There are no non-operational fund occupations by controlling shareholders or related parties reported[6]. - The company has not violated any decision-making procedures regarding external guarantees[6]. - The report includes a risk statement indicating that future plans do not constitute a substantive commitment to investors[5]. - The company did not engage in any significant acquisitions or asset sales during the reporting period[62]. - The company has no significant future investment or acquisition plans as of June 30, 2025[130]. - The audit committee has reviewed the mid-term performance announcement and financial reports, confirming compliance with applicable accounting standards[138]. - There are no significant events after the reporting period that require disclosure[143]. Employee Incentives and Stock Options - Great Wall Motors announced the implementation of the 2023 restricted stock incentive plan, with the first grant of restricted stocks completed[155]. - The company reported the completion of the cancellation of part of the restricted stocks under the 2023 incentive plan[157]. - Great Wall Motors disclosed the results of the self-exercise of convertible bonds and stock options under the 2021 incentive plan[158]. - The first unlocking of the restricted stocks under the 2023 incentive plan was announced, indicating progress in employee incentives[158]. - The company confirmed the completion of the first grant of stock options under the 2023 stock option incentive plan[156]. - The company is focusing on enhancing employee motivation through stock options and restricted stock grants[158]. - The incentive plans aim to transform employees from "workers" to "partners," promoting long-term development and aligning interests with shareholders[162]. - The plans are designed to attract and stabilize talented management and core personnel, enhancing the company's human resource advantages[163]. - The performance targets set in the plans are intended to boost competitiveness and motivate management and core personnel[163]. - The total number of shares available for issuance under the 2021 Restricted Stock Incentive Plan is 43.184 million shares, accounting for 0.50% of the total shares issued as of the semi-annual report date[164]. - The total number of stock options available under the 2021 Stock Option Incentive Plan is 397.101 million options, representing 4.64% of the total shares issued as of the semi-annual report date[164].

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 .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 於開展外匯衍生 交易業務的 行性分析報告」。 承董事會命 長城汽車股份有限公司 聯席公司秘書 李紅栓 中國河北省保定市 ，2025年8月29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 关于开展外汇衍生品交易业务 ...

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 。 承董事會命 長城汽車股份有限公司 聯席公司秘書 李紅栓 中國河北省保定市 ，2025年8月29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。 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 .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 於開展外匯衍生 交易業務的公告」。 | 证券代码：601633 | 证券简称：长城汽车 | 公告编号：2025-110 | | --- | --- | --- | | 转债 ...

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 。 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 .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 於2023年員工 股計劃第二個鎖定期屆滿暨解鎖條 成 」。 承董事會命 長城汽車股份有限公司 聯席公司秘書 李紅栓 中國河北省保定市 ，2025年8月29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。 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） * 僅供識別 海外監管公告 | 证券代码：601633 | 证 ...

Core Insights - The Chengdu International Auto Show showcased the new Tank 500, which gained significant attention for its advanced features and strong market presence [1][10] - The Tank 500 achieved over 12,000 pre-orders within just 2 hours of its launch, highlighting its appeal in a competitive automotive market [3][12] - The vehicle is positioned as a luxury off-road SUV, integrating advanced technology and design elements that cater to modern consumer preferences [4][6][9] Product Features - The Tank 500 is available in four versions, with prices ranging from 335,000 to 375,000 yuan, and includes various luxury features and technology packages [3][4] - It incorporates the third-generation Coffee Pilot Ultra driving assistance system and Coffee OS 3 smart space system, enhancing its competitive edge over traditional luxury brands [6][13] - The vehicle's design reflects a blend of modern luxury and traditional Chinese aesthetics, appealing to a diverse consumer base [7][9] Market Strategy - The Tank brand is focusing on a dual technology approach with the Hi4-T and Hi4-Z hybrid architectures, aiming to lead in the new energy off-road vehicle segment [13][15] - The Hi4-T architecture has been upgraded to improve performance, with significant enhancements in electric motor power and charging efficiency [13][15] - The brand's commitment to user-centric design is exemplified by the CEO's direct engagement with customers at the auto show, reinforcing the company's dedication to understanding consumer needs [10][12]

中國河北省保定市 ，2025年8月29日 於本公告日期，董事會成員如下： 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 .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 公司財務報表及審閱報告」。 承董事會命 長城汽車股份有限公司 聯席公司秘書 李紅栓 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 。 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 财务报表及审阅报告 截至二零二五年六月三十日止六个 ...