巴西工厂的竣工投产，并非简单的海外落子，而是长城汽车全球化战略"生态出海"模式的关键落点。自1997年开启出海之路以来，作为中国首批"走出去"的车企之一，长城汽车已完成从单一产 支撑这一跨越的，是长城汽车"国际新四化"战略的深度落地——以产能在地化筑牢根基，以经营本土化融入市场，以品牌跨文化打破壁垒，以供应链安全化抵御风险。在这一框架下，长城汽车实 自进入巴西市场以来，长城汽车业绩稳步攀升：三年内实现年销量2.9万辆；2025年上半年销量突破1.57万辆，同比增长19.8%，超出行业平均水平17个百分点。这份亮眼成绩为巴西工厂投产 长城汽车的"生态出海"模式，不仅有效促进了中巴汽车产业资源整合与技术协同创新，更通过创造就业、带动产业链发展，激活了当地经济活力，实现真正的互利共赢。这一模式也为更多中国汽 未来，长城汽车将以巴西工厂为战略支点，持续深化"研产供销服"一体化的"生态出海"模式，加速拓展拉美市场。同时，依托拉美市场的辐射效应，公司将进一步优化全球市场布局。这一战略 责任编辑：江钰涵 北京时间8月16日凌晨，长城汽车巴西工厂正式竣工投产。巴西总统卢拉、副总统阿尔克明、中国驻巴西大使祝青桥、巴西劳工部部长 ...

Group 1 - The State Intellectual Property Office of China has published a patent application by Great Wall Motor Company Limited titled "Vehicle Control Method, Electronic Device, and Vehicle," with publication number CN120481988A and application date of June 2025 [1] - The patent describes a vehicle control method that determines target motor torque limits based on vehicle operation information when an idle control switch request is detected, allowing for a reduction in generator motor torque limits [1] - The method aims to stabilize engine idle control by minimizing fluctuations in engine load torque and speed, facilitating a switch from hybrid control unit to engine control module for idle control [1] Group 2 - Great Wall Motor Company Limited was established in 2001 and is located in Baoding City, primarily engaged in the automotive manufacturing industry [2] - The company has a registered capital of approximately 8.49 billion RMB and has invested in 75 enterprises, participated in 2,581 bidding projects, and holds 5,000 trademark and patent records [2] - Additionally, the company possesses 639 administrative licenses, indicating a robust operational framework and extensive involvement in various business activities [2]

Core Viewpoint - The completion and production launch of Great Wall Motors' factory in Brazil marks a significant milestone in the company's globalization strategy and serves as a model for high-quality export of the Chinese automotive industry, highlighting the deep integration of the automotive supply chain between China and Brazil [1][9]. Group 1: Factory Overview - The Great Wall Motors factory in Brazil is located in Iracemapolis, São Paulo, covering an area of 1.2 million square meters with a building area of 94,000 square meters [8]. - The factory has a production capacity of 50,000 vehicles per year and will initially produce key models such as the Haval H6 series and Haval H9 [8]. - The factory is strategically positioned to serve the Latin American market, connecting Eurasia, Southeast Asia, and Latin America [5][6]. Group 2: Strategic Importance - The factory serves as a strategic hub for Great Wall Motors in Latin America, facilitating shorter delivery times and enhanced local service capabilities [6]. - The establishment of the factory is part of Great Wall Motors' "ecological export" model, which has evolved from simple product exports to a comprehensive value chain approach [9][11]. - Great Wall Motors has over 1,400 overseas sales channels and has sold over 2 million vehicles globally, indicating a robust international presence [9]. Group 3: Local Integration and Economic Impact - Great Wall Motors has integrated deeply into Brazilian society through cultural initiatives, fostering a two-way cultural dialogue and enhancing local community ties [8][13]. - The company's operations have contributed to job creation and the development of the local automotive supply chain, stimulating economic activity in the region [13][14]. - Since entering the Brazilian market, Great Wall Motors has seen steady sales growth, achieving a 19.8% year-on-year increase in sales in the first half of 2025, surpassing the industry average [11]. Group 4: Future Outlook - Great Wall Motors plans to use the Brazilian factory as a strategic base to further deepen its "ecological export" model and expand its presence in the Latin American market [14]. - The company aims to optimize its global market layout, enhancing the competitiveness of "Chinese manufacturing" on the world stage [14].

Core Viewpoint - Great Wall Motors officially opened its factory in Brazil on August 16, marking a significant milestone in its international expansion strategy [1][2]. Group 1: Company Expansion - The opening of the Brazil factory signifies Great Wall Motors' commitment to establishing a presence in the Latin American market [2]. - The company has a history of international operations, having sold over 2 million vehicles overseas since its first international venture in 1997 [2]. Group 2: Technological Advancement - Great Wall Motors plans to introduce its advanced Hi4 hybrid four-wheel drive technology to the Latin American market through the new factory [2]. Group 3: Industry Impact - The establishment of the Brazil factory is seen as a new starting point for Great Wall Motors' "ecological overseas" strategy, aiming to showcase the strength of Chinese automotive manufacturing globally [2].

长城汽车董事长魏建军在微博发文称，长城汽车巴西工厂在北京时间8月16日凌晨正式开业，巴西总统 卢拉亲临现场。 ...

Group 1 - Brazilian President Lula expressed an open attitude towards business cooperation and welcomed companies to operate in Brazil during the inauguration of Great Wall Motors' factory in São Paulo [1][4] - Lula emphasized trust in the Brazilian government and stated that companies wishing to leave are free to do so, while those willing to come will be warmly welcomed [4] - The president criticized the 50% tariff imposed by the United States on Brazilian goods and mentioned that Brazil is facing "unnecessary turmoil" [4] Group 2 - Great Wall Motors' Brazilian subsidiary has an annual production target of 50,000 vehicles and is expected to create over 2,000 jobs as it plans to export cars to Latin America [4]

【中泰汽车|何俊艺团队】汽车周报（08/04-08/10） 持续看好强势自主整车，年度重视整车&智驾&机器人 汽车行业首席分析师：何俊艺 S0740523020004 hjy@zts.com.cn 汽车行业分析师：汪越 S0740525010002 汽车行业分析师：刘欣畅 S0740522120003 liuxc03@zts.com.cn 汽车行业分析师：白臻哲 S0740524070006 baizz@zts.com.cn wangyue07@zts.com.cn 证券研究报告 2025年8月15日 目 录 一 、核心观点：持续看好强势自主整车，年度重视整车&智驾&机器人 二、行情跟踪：全行业&汽车板块&覆盖标的跟踪 三、行业景气度：终端&订单&出口总量+分车企数据跟踪 四、重要新闻 五、个股跟踪 六、风险提示 2 汽车行业分析师：毛䶮玄 S0740523020003 核心观点：持续看好强势自主整车，年度重视整车&智驾&机器人 n 周度核心数据： maoyx@zts.com.cn • ①内销：本周（8/04-8/10）上险总量38.3w，低于40w周度荣枯线（同比-21%/环比-18.5% ）。新能源周度上 ...

Core Insights - Great Wall Motors is actively developing its ultra-luxury brand, with a recent tender announcement for suppliers to assist in building the brand [1][2] - The ultra-luxury brand is still in the early stages of development, focusing on brand positioning and product naming [2] - The brand's leadership includes Chairman Wei Jianjun, CEO Song Dongxian, and CTO Zhang Xiaobo, with a focus on a "dual-core" organizational structure [2][4] Brand Development - The ultra-luxury brand is expected to feature a hybrid powertrain, combining a 4.0T V8 twin-turbo engine with an electric motor, targeting around 1000 horsepower and a 0-100 km/h acceleration time of under 2.5 seconds [3] - The brand aims to compete not only with Ferrari but also with other high-end brands like Rolls-Royce, Porsche, and Lamborghini, as indicated by the tender requirements for suppliers [3][4] Supplier Requirements - The tender specifies that suppliers must have at least three core team members with over eight years of experience in the ultra-luxury or luxury goods sector, along with unique strategies targeting high-net-worth individuals [4] - The company emphasizes a "high quality, small batch" philosophy, indicating a significant departure from mass production practices [4] Market Context - Great Wall Motors is eager to enter the ultra-luxury market, reflecting a shift in Chinese consumer perceptions of luxury vehicles [5] - At least seven domestic brands have recently targeted the million-yuan luxury car market, indicating a growing trend among Chinese manufacturers to establish credibility in high-end automotive production [5]

从资金流向上来看，当日乘用车板块主力资金净流出3.51亿元，游资资金净流入1200.67万元，散户资金净流入3.39亿元。乘用车板块个股资金流 向见下表： 证券之星消息，8月15日乘用车板块较上一交易日上涨0.82%，北汽蓝谷领涨。当日上证指数报收于3696.77，上涨0.83%。深证成指报收于 11634.67，上涨1.6%。乘用车板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 600733 | 北汽蓝谷 | 8.92 | 3.48% | 144.63万 | 12.76亿 | | 601633 | 长城汽车 | 23.45 | 2.18% | 29.42万 | 6.88亿 | | 600104 | 上汽集团 | 18.40 | 1.88% | 97.76万 | 18.17亿 | | 000572 | 步写汽车 | 4.50 | 0.90% | - 35.79万 | 1.61亿 | | 601238 | 广汽集团 | 7.55 | 0.67% | 25.78万 | 1.95 ...

Core Viewpoint - The company is actively combating malicious online defamation and misinformation during a significant transformation in the automotive industry, emphasizing the importance of fair competition and legal protection of its reputation [2][3][4]. Group 1: Company Actions - The company adheres to compliant operations and utilizes legal means to protect its rights and reputation against malicious infringement [2]. - Recent legal actions have resulted in a court ruling against an account that maliciously attacked the company, leading to a compensation of 200,000 yuan and a requirement for public apology [3]. - Multiple accounts have been identified for spreading defamatory content, and legal actions have led to the deletion of harmful posts and public apologies from the operators [4]. Group 2: Industry Context - The automotive industry is undergoing a profound transformation, where healthy competition should drive technological advancement, but some media outlets exploit the situation to spread false information [2]. - The actions taken by the company are part of a broader initiative to maintain market order and support industry upgrades amidst challenges posed by misinformation [2].