Core Viewpoint - Despite achieving record high overseas sales, Great Wall Motors' profitability in its overseas business has further contracted, with a notable decline in gross margin [3]. Group 1: Financial Performance - In 2025, Great Wall Motors reported an overseas gross margin of 16.70%, down 2.06 percentage points from 18.76% in 2024 [3]. - The company's domestic gross margin for the same period was 18.61% [3]. - The overseas gross margin peaked at 26.01% in 2023, significantly higher than the domestic margin of 15.52% [3]. - The overseas gross margin has decreased by 9.31 percentage points from its 2023 high [3]. Group 2: Revenue and Sales Growth - Great Wall Motors achieved overseas revenue of 91.488 billion yuan in 2025, representing a year-on-year growth of 13.99% [3]. - The company sold 506,800 new vehicles in overseas markets in 2025, an increase of 11.60% year-on-year [3]. - Overseas sales accounted for nearly 40% of the company's total sales, making it a core driver of overall revenue growth [3]. Group 3: Market Expansion and Strategy - As of the end of 2025, Great Wall Motors has exported products to over 170 countries and regions, with more than 1,400 overseas sales channels [4]. - The company has achieved cumulative overseas sales exceeding 2 million units, positioning itself as a leading Chinese automotive enterprise in international markets [4]. - The completion of a full-process factory in Brazil in August 2025 marks a significant step in local production and technology adaptation for the Latin American market [4]. Group 4: Challenges and Risks - The company faces uncertainties in overseas markets due to international geopolitical conflicts and increasing trade barriers, which may raise operational costs [5]. - Factors such as increased scrap tax rates in Russia, a key export market, have contributed to rising automotive costs since 2024 [5]. - The company plans to deepen its "ONE GWM" global strategy, focusing on regional development and localized operations to mitigate risks associated with geopolitical tensions and trade barriers [5].

Core Viewpoint - Great Wall Motors reported a record high revenue of 222.824 billion yuan for the year 2025, marking a year-on-year growth of 10.2% [1] Financial Performance - The company's net profit attributable to shareholders reached 9.865 billion yuan [1] - The average revenue per vehicle sold was 168,300 yuan, an increase of approximately 4,500 yuan year-on-year [1] Sales Performance - Great Wall Motors achieved global sales of 1.324 million vehicles in 2025, representing a year-on-year increase of 7% [1] - Overseas sales reached 506,800 vehicles, showing a growth of 11.6% [1] Dividend Distribution - The company announced a profit distribution plan, proposing a cash dividend of 3.5 yuan per 10 shares (including tax) [1]

Core Viewpoint - Great Wall Motors has achieved record sales in overseas markets, but the profitability of its overseas business has further declined, indicating challenges in maintaining margins in international operations [1] Group 1: Financial Performance - In 2025, Great Wall Motors' overseas gross margin is reported at 16.70%, a decrease of 2.06 percentage points compared to 18.76% in the same period of 2024 [1] - The domestic business gross margin for the same period stands at 18.61%, indicating that domestic operations remain more profitable than overseas [1]

Core Viewpoint - Despite achieving record sales in overseas markets, the profitability of Great Wall Motors' overseas business has further contracted, with a notable decline in gross margin from previous years [2]. Group 1: Financial Performance - In 2025, the gross margin for Great Wall Motors' overseas business was 16.70%, a decrease of 2.06 percentage points compared to 18.76% in 2024 [2]. - The domestic business gross margin for the same period was reported at 18.61% [2]. - The overseas gross margin has significantly declined from a peak of 26.01% in 2023, marking a total drop of 9.31 percentage points by 2025 [2]. Group 2: Sales and Revenue Growth - Great Wall Motors achieved overseas revenue of 91.488 billion yuan in 2025, reflecting a year-on-year growth of 13.99% [2]. - The company sold 506,800 new vehicles in overseas markets, which is an increase of 11.60% year-on-year, with overseas sales accounting for nearly 40% of total sales [2]. Group 3: Market Expansion and Challenges - As of the end of 2025, Great Wall Motors has exported products to over 170 countries and regions, with more than 1,400 overseas sales channels and cumulative overseas sales exceeding 2 million vehicles [3]. - The company has established a full-process factory in Brazil, which commenced operations in August 2025, serving as a core hub for the Latin American market [3]. - The company faces uncertainties in overseas markets due to international geopolitical conflicts, increased trade barriers, and rising costs associated with local production and currency fluctuations [3]. - Great Wall Motors plans to deepen its "ONE GWM" global strategy, focusing on regional development and localized operations to mitigate risks associated with market dependency and trade barriers [3].

报告期公司实现销量和营业收入的同比增长，同时加速构建直连用户的新渠道模式，以及加大新车型、 新技术的上市宣传及品牌提升，投入增加导致净利润下降。 智通财经APP讯，长城汽车(601633.SH)披露2025年年度报告，报告期公司实现总营收2228.24亿元，同 比增长10.20%;归母净利润98.65亿元，同比下降22.07%;扣非净利润60.59亿元，同比下降37.50%;基本每 股收益1.16元。拟向全体股东每股派发现金红利人民币0.35元(含税)。 ...

格隆汇3月28日丨长城汽车(601633.SH)公布2025年年度报告，报告期内，公司实现营业收入2228.24亿 元，同比增长10.20%；实现利润总额117.58亿元，同比下降17.35%；归属于上市公司股东的净利润 98.65亿元，同比下降22.07%。拟向全体股东每股派发现金红利人民币0.35元(含税)。 ...

格隆汇3月28日丨长城汽车(601633.SH)公布2025年年度报告，报告期内，公司实现营业收入2228.24亿 元，同比增长10.20%；实现利润总额117.58亿元，同比下降17.35%；归属于上市公司股东的净利润 98.65亿元，同比下降22.07%。拟向全体股东每股派发现金红利人民币0.35元(含税)。 ...

Core Viewpoint - Great Wall Motors reported a revenue of 222.82 billion yuan for 2025, marking a year-on-year increase of 10.20%, while net profit attributable to shareholders decreased by 22.07% to 9.87 billion yuan [1] Financial Performance - Revenue for 2025 reached 222.82 billion yuan, up 10.20% year-on-year [1] - Net profit attributable to shareholders was 9.87 billion yuan, down 22.07% year-on-year [1] - Non-recurring net profit decreased by 37.5% to 6.06 billion yuan [1] - Accounts receivable stood at 9.60 billion yuan, an increase of 31.98% [1] - The asset-liability ratio was 60.99%, down 4.29% year-on-year [1] Cost Structure - Sales expenses surged by 43.93% to 11.27 billion yuan, attributed to the acceleration of new channel models and increased marketing for new models and technologies [1] - R&D expenses rose by 12.13% to 10.43 billion yuan [1] - Management expenses slightly decreased by 0.83% to 4.75 billion yuan [1] Executive Compensation - Total compensation for directors and senior management was 19.04 million yuan (pre-tax), an increase from 18.01 million yuan in 2024 [1] - Key executives, including the Vice Chairman and CFO, received salary increases [1] Sales Performance - Total vehicle sales for 2025 increased by 7.33% to 1.32 million units [2] - Sales by brand showed growth for Haval, WEY, Great Wall Pickup, and Tank brands, while sales for the Ora brand decreased by 23.68% to 48,300 units [2] Brand Strategy - The Ora brand has completed a strategic transformation, shifting from a focus on "refined women" to targeting "global young urban dwellers," expanding from a pure electric brand to a full-power coverage brand [3] Market Performance - As of March 27, Great Wall Motors' A-shares rose by 0.72% to 20.88 yuan per share, with a total market capitalization of 178.7 billion yuan [4] - The company's Hong Kong shares increased by 0.48% to 12.48 HKD per share, with a market capitalization of 106.8 billion HKD [4]

格隆汇3月27日丨长城汽车(02333.HK)公布2025年年度业绩，2025年，长城汽车迎来成立35周年的重要 里程碑，公司始终坚持研发创新、坚持长期主义、坚持高质量发展，逐步成为中国汽车工业发展的中坚 力量。2025年，长城汽车实现新车销量132.38万辆，同比增长7.23%。其中，海外年销售新车50.68万 辆，同比增长11.60%，公司持续推进"ONE GWM"品牌战略，强化研、产、供、销、服全面出海的"生 态出海"模式，海外销量再创历史新高；2025年全年，公司新能源车型全球销量为40.60万辆，同比增长 26.00%，长城汽车锁定智能新能源赛道，旗下品牌市场影响力持续提升。 长城汽车在"ONE GWM"为品牌战略的引领下，以"一车多动力、一车多品类、一车多姿态"的全场景适 配能力为支撑，为全球不同市场、不同地区、不同能源条件的用户提供科技出行，2025年营业收入创历 史新高，实现2,228.24亿元(人民币，下同)，同比增长10.20%。公 司2025年度归属于上市公司股东的净 利润为人民币98.65亿元，同比减少22.07%，拟向全体股东每股派发现金红利人民币0.35元(含税)。 ...

证券代码：601633 证券简称：长城汽车 公告编号：2026-020 转债代码：113049 转债简称：长汽转债 长城汽车股份有限公司 关于选举董事的公告 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。 一、重选及选举董事 鉴于长城汽车股份有限公司（以下简称"本公司"或"公司"）第八届董事会截至 2026 年 6 月 15 日届满，公司需重新选举董事会成员。根据《长城汽车股份有限公司章 程》（以下简称"《公司章程》"）要求及本公司股东保定创新长城资产管理有限公司提名， 重选魏建军先生、赵国庆先生、李红栓女士、何平先生为本公司第九届董事会成员。根 据董事会建议，重选邹兆麟先生、范辉先生为本公司第九届董事会独立非执行董事。 独立非执行董事乐英女士任期已满六年不再重选连任。本公司董事会建议提名田雅 娟女士为本公司第九届董事会独立非执行董事，以代替乐英女士。于年度股东会获委任 为董事的前提下，魏建军先生、赵国庆先生、李红栓女士、何平先生、邹兆麟先生、范 辉先生、田雅娟女士将与本公司签订服务协议，任期自 2025 年年度股东会审议通过 ...