图为比赛现场。 作为拥有170余年历史的国际机油品牌，法国摩特长期深耕赛车运动领域，凭借顶尖的技术与专业赛事 经验，为参赛车辆提供全方位的润滑解决方案。在本次赛事中，针对长城汽车参赛的哈弗、坦克以及长 城炮车型，法国摩特配备了多款高性能产品，包括采用酯类技术的300V赛车机油，其卓越的抗高温、 高转速保护性能，确保发动机在极端条件下依旧稳定输出；Gear Competition75W140齿轮油为变速箱和 差速器提供持久保护与顺畅操控；RBF660高性能制动液则保证在严苛环境下的制动响应；同时，Auto Cool-25℃高性能防冻液也为赛车在高负荷条件下提供高效冷却与防沸保障。这些专业级产品的应用， 为长城车队在极具挑战的赛段上提供坚实保障。 中新网甘肃新闻9月17日电 (张凯静)2025中国汽车越野拉力锦标赛金塔分站赛暨第六届敦煌越野耐力赛 于9月13日至16日举行，全球知名润滑油品牌法国摩特(Motul)再度以赞助商的身份支持长城汽车参赛。 这是继2025中国环塔(国际)拉力赛之后，法国摩特与长城汽车在中国越野赛场上的又一次深度合作。 第六届敦煌越野耐力赛是2025赛季中国汽车越野拉力锦标赛年度第四站，比 ...

Core Viewpoint - The successful completion of the 2025 China Automobile Off-Road Rally Championship in Dunhuang highlights the strength and reliability of the Great Wall Tank brand in the new energy off-road vehicle segment, demonstrating that performance compromises are unnecessary in this category [1][3][21]. Group 1: Event Overview - The Dunhuang endurance race covered approximately 1200 kilometers, with nearly 1000 kilometers of special stages, testing the technical and psychological skills of the drivers [3]. - The Tank Hi4 team, competing in the T2.E mass-produced new energy category, successfully completed the race, showcasing the brand's technical prowess and reliability under extreme conditions [3][6]. Group 2: Technical and Product Strength - The Tank brand's success is attributed to Great Wall's strong vertical integration and comprehensive industry chain, with recognized component manufacturers in various fields [8]. - The Tank Hi4 models, equipped with advanced engines and transmission systems, have demonstrated exceptional performance in real-world conditions, reinforcing the brand's reputation in the off-road vehicle market [8][18]. Group 3: Driver and Team Dynamics - The Tank Hi4 team consists of passionate drivers with diverse backgrounds, united by their love for off-road racing, which adds a unique spirit to the competition [11][13]. - The involvement of Great Wall's chairman, Wei Jianjun, in the races emphasizes the company's commitment to making off-road experiences accessible to more enthusiasts [13]. Group 4: New Model Introduction - The newly launched Tank 500 Hi4-Z model, which participated in the endurance race, features a versatile design suitable for both high-intensity off-road and family use, attracting significant attention [15][18]. - The Tank 500 Hi4-Z boasts impressive specifications, including a maximum combined horsepower of 863 and over 200 kilometers of pure electric range, making it a competitive option in both off-road and urban settings [17][18]. Group 5: Future Outlook - The completion of the Dunhuang endurance race marks the beginning of a new chapter for the Tank brand in the new energy off-road segment, with plans to continue participating in more events to enhance technology and consumer safety [21]. - The brand aims to leverage its racing experiences to improve product reliability and performance, contributing to the advancement of China's automotive industry from a scale leader to a technology leader [21].

Core Viewpoint - The report from Ping An Securities highlights Great Wall Motors' comprehensive hybrid power solutions, showcasing its advanced Hi4 hybrid technology system and its strategic positioning in the automotive market [1] Group 1: Hybrid Technology - Great Wall Motors has developed a hybrid technology system called Hi4, which includes four main technical branches: Hi4 intelligent four-wheel drive, Hi4-T off-road super hybrid, Hi4-Z general off-road super hybrid, and Hi4-G intelligent hybrid heavy trucks, covering various vehicle scenarios from urban to off-road [1] - The company is one of the early entrants in AI-assisted driving, continuously iterating its navigation assistance in urban areas, with the VLA (Vision-Language-Action) model set to be integrated into its vehicles [1] Group 2: Product Strategy - The high-end home-use brand Wey will standardize advanced assisted driving features across its entire lineup, while the Tank brand, positioned for high-end off-road vehicles, is expected to expand its market presence through advanced intelligent driving capabilities [1] - The upcoming launch of the flagship SUV from the Wey brand is supported by a direct sales system, enhancing market penetration [1] Group 3: Market Positioning - Great Wall Motors is experiencing a strategic upgrade in its high-end offerings within the off-road/general off-road and family vehicle segments, with a strong competitive edge in off-road technology and product variety [1] - The company's overseas business stability is backed by three comprehensive manufacturing plants, and the export proportion of high-end products like the Tank brand is increasing [1]

Core Viewpoint - The 2025 Dunhuang Rally highlights the commitment of Great Wall Motors and its chairman Wei Jianjun to promote motorsport culture and demonstrate the reliability of their production vehicles through direct participation in competitive events [1][3][14] Group 1: Event Overview - The 2025 China Automotive Off-Road Rally Championship Dunhuang Station officially commenced on September 11, 2025, with the starting ceremony held on September 13 [1] - Wei Jianjun, as a driver, showcased respect for the competition by starting second, adhering to the event's traditions and rules [3] Group 2: Company Representation - Wei Jianjun led three brands under Great Wall Motors—Haval, Tank, and Great Wall Pickup—demonstrating confidence in their products [3] - The participation of the chairman in the rally is seen as a milestone in Chinese motorsport history, pushing off-road rallying into the public eye and fostering the development of the motorsport industry [5] Group 3: Product Performance - The vehicles participating in the T2 group must maintain original factory specifications, emphasizing the performance of mass-produced models in extreme conditions [5][11] - The Haval H9 diesel version driven by Wei Jianjun features a 2.4T diesel engine with a maximum power of 137 kW and a torque of 490 N·m, showcasing its capability in diverse terrains [7] - The Tank 300 Hi4-T and Tank 500 Hi4-Z models exhibit advanced hybrid technology, enhancing performance and efficiency in competitive scenarios [8][10] Group 4: Event Support and Infrastructure - Great Wall Motors provided comprehensive support during the event, including a complete spare parts system and emergency supplies, ensuring efficient operations [11] - All participating vehicles were based on production models, ensuring a high level of quality and reliability for users [11] Group 5: Industry Impact and Future Directions - Great Wall Motors has established a "human-vehicle-field" grading system for off-road vehicles, aiming to enhance user experience and safety [12] - The chairman's involvement reflects a long-term vision for promoting motorsport culture and inclusivity within the industry [14]

Group 1 - The company has a comprehensive hybrid power solution covering various vehicle scenarios, including passenger cars and commercial vehicles [1] - The high-level intelligent assisted driving has entered the end-to-end 2.0 era, with the VLA model set to be equipped in high-end home-use vehicles [1] - The Tank brand is expanding rapidly to a broader user base, leveraging strong user loyalty and high resale value of main models [1] Group 2 - The flagship SUV of the Wei brand is set to launch, with expectations of sales returning to over 10,000 units by June 2025 [2] - The company maintains net profit forecasts of 14.7 billion, 15.9 billion, and 18.3 billion for 2025 to 2027, supported by strong off-road technology and a rich hybrid technology framework [2] - The company is entering a high-end strategic leap period in both off-road and family vehicle segments, maintaining a "recommend" rating [2]

Core Insights - Great Wall Motors (601633) has launched the pre-sale of the Wei brand Gaoshan 7 at a price of 289,800 yuan [1] - The CEO of Wei brand, Feng Fuzhi, highlighted that the Gaoshan family consists of three models, each targeting different family needs: Gaoshan 9 for business and family, Gaoshan 8 for large families, and Gaoshan 7 for young families [1] Product Features - Gaoshan 7 is positioned as the smallest turning radius mid-to-large MPV, challenging the perception that MPVs are difficult to park and drive [1] - The vehicle measures 5,050 mm in length and has a wheelbase of 3,085 mm, allowing it to fit into standard parking spaces easily, with a minimum turning radius of just 5.6 meters [1] - The Gaoshan 7 boasts a 61.1% space utilization rate, the highest in its class, and features a flat floor design for enhanced interior space [1] - The vehicle includes unique seating layout flexibility through its second and third-row shared track technology [1] Technology and Safety - Gaoshan 7 is the only MPV in its class to come standard with laser radar and is equipped with the Coffee Pilot Ultra driver assistance system, which is among the industry's top tier [1] - The vehicle supports parking from space to space and can recognize over 200 types of parking spaces, achieving a parking space recognition success rate of 96% [1]

Investment Rating - The report maintains a "Recommended" rating for Great Wall Motors [1] Core Views - Great Wall Motors is positioned to expand its Tank brand to a broader user base, leveraging its advanced hybrid technology and intelligent driving systems [6][11] - The company is expected to enter a new growth cycle with the launch of its flagship SUV under the Wey brand, supported by a robust direct sales system [35][44] - The investment outlook remains positive due to the company's strong competitive advantages in off-road technology and a diversified product matrix [6][11] Summary by Sections 1. Hybrid Power Base: Complete Hi4 Technology System - The Hi4 technology system covers various vehicle usage scenarios, including passenger cars and commercial vehicles [12] - It includes multiple technical branches such as Hi4, Hi4-T, Hi4-Z, and Hi4-G, catering to different driving environments [12][14] 2. Intelligent Driving Assistance: Entering End-to-End 2.0 Phase - Great Wall Motors is advancing its AI intelligent driving capabilities, with the VLA model set to enhance user experience through improved understanding of driving environments [16][18] - The company has launched the Coffee Pilot Ultra system, which does not rely on high-precision maps, enhancing its autonomous driving capabilities [16][18] 3. Tank Brand Continues to Expand - The Tank brand has achieved over 700,000 units in cumulative sales, with a high resale value, solidifying its position in the off-road market [25] - The brand is transitioning from a niche market to a broader audience, supported by diverse product offerings and advanced technology [24][25] 4. Wey Brand: Intelligent Focus on High-End Household Vehicles - The Wey brand is set to launch a flagship SUV, with expectations of returning to a monthly sales volume of over 10,000 units by mid-2025 [35][44] - The product matrix is being expanded to include more models, enhancing the brand's competitiveness in the high-end market [36][41] 5. Profit Forecast and Investment Recommendations - The report forecasts net profits for Great Wall Motors at 14.7 billion, 15.9 billion, and 18.3 billion yuan for 2025 to 2027 [6] - The investment recommendation remains positive, reflecting the company's strong market position and growth potential in both off-road and family vehicle segments [6][11]

Group 1 - Great Wall Motors Co., Ltd. has applied for a patent titled "An Insulation Detection System and Method for On-Board Chargers," with publication number CN120652165A, and the application date is June 2025 [1] - The patent describes an insulation detection system that includes a switch module, first and second monitoring modules, and a control module, aimed at enhancing vehicle technology [1] - The system features different detection precisions for the first and second monitoring modules, allowing for dual-path detection to meet various detection needs, thereby improving reliability and reducing false alarms [1] Group 2 - Great Wall Motors Co., Ltd. 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 855.89 million RMB and has invested in 74 enterprises, participated in 2,630 bidding projects, and holds 5,000 trademark and patent records [2] - Additionally, the company possesses 640 administrative licenses, indicating a robust operational framework [2]

2025中国汽车越野拉力锦标赛金塔分站赛暨第六届敦煌越野耐力赛于9月13日至16日举行。本届敦煌越 野耐力赛为中国汽车越野拉力锦标赛年度第四站，共设4个特殊赛段，总里程近1000公里。赛段涵盖沙 漠、戈壁、河道等多种复杂地形，昼夜温差较大，对车手和车队提出了较高要求。法国润滑油品牌摩特 （Motul）作为赞助商，为长城汽车提供赛事支持。这是继2025中国环塔（国际）拉力赛后，双方在中 国越野赛事中的再次合作。 代表长城汽车坦克Hi4车队参赛的车手姚卫强表示，从环塔拉力赛到敦煌耐力赛，持续使用摩特机油。 在本次比赛复杂路况和高负荷环境下，发动机仍保持稳定输出，动力表现顺畅。 法国摩特是一家拥有超过170年历史的国际机油品牌，长期参与全球赛车运动。此次比赛中，摩特为长 城汽车旗下的哈弗、坦克及长城炮等参赛车型提供了多款润滑产品。其中包括采用酯类技术的300V赛 车机油，该产品有助于发动机在高温、高转速条件下保持稳定表现；Gear Competition 75W140齿轮油用 于保护变速箱和差速器；RBF 660高性能制动液提升制动系统在严苛环境中的响应能力；Auto Cool -25°C防冻液则为发动机提供冷却和 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 長城汽車股份有限公司 呈交日期： 2025年9月16日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 FF305 確認 | 第一章節 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | A | | 於香港聯交所上市 | 否 | | | | 證券代號 (如上市) | 601633 | 說明 | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | | 事件 | | 已 ...