Financial Performance - The company's operating revenue for Q1 2023 was ¥26,392,882,331, representing a year-on-year increase of 14.03%[4] - The net profit attributable to shareholders decreased by 48.89% to ¥1,537,865,790 compared to the same period last year[4] - The basic and diluted earnings per share were both ¥0.15, reflecting a decline of 48.28% year-on-year[4] - Net profit for Q1 2023 was ¥1.31 billion, down 56.4% from ¥2.99 billion in Q1 2022[19] - Operating profit decreased to ¥1.14 billion in Q1 2023, compared to ¥2.85 billion in Q1 2022, reflecting a decline of 60%[18] - The company reported a total comprehensive income of ¥1.35 billion in Q1 2023, a decrease from ¥2.86 billion in Q1 2022[19] - The total operating costs for Q1 2023 were ¥28.19 billion, an increase of 14.5% from ¥24.60 billion in Q1 2022[18] - The company recorded investment income of ¥2.95 billion in Q1 2023, down from ¥4.23 billion in Q1 2022[18] Cash Flow and Liquidity - The net cash flow from operating activities increased by 76.95% to ¥738,369,880[4] - The net cash flow from operating activities was -¥738.37 million in Q1 2023, worsening from -¥3.20 billion in Q1 2022[20] - Cash and cash equivalents decreased to ¥34,636,092,974 from ¥39,524,425,339[16] - The cash and cash equivalents at the end of the period were $32,967,800,446, down from $37,478,546,717 at the beginning of the period[21] - Total cash and cash equivalents decreased by $4,510,746,271 during the period, compared to a decrease of $3,258,182,887 in the previous period[21] - The company experienced a negative impact of $15,359,789 on cash and cash equivalents due to exchange rate fluctuations[21] Assets and Liabilities - Total assets at the end of the reporting period were ¥196,943,574,539, up 3.64% from the previous year[7] - Current assets totaled ¥89,520,053,758, a decrease from ¥91,792,172,989 in the previous period[16] - Non-current assets reached ¥107,423,520,781, up from ¥98,228,574,413[16] - Total liabilities were ¥73,303,543,654, compared to ¥67,772,458,376 at the end of the previous year[16] - Shareholders' equity totaled ¥123,640,003,088, an increase from ¥122,248,289,026[17] - Total equity attributable to shareholders increased by 1.43% to ¥114,854,362,957[7] Government Support and Subsidies - The company received government subsidies amounting to ¥104,679,780, which are closely related to its normal business operations[5] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 159,434[10] Research and Development - Research and development expenses increased to ¥397.19 million in Q1 2023, up from ¥240.72 million in Q1 2022, marking a growth of 64.9%[18] - The company reported a decrease in development expenditures to ¥3,604,016,082 from ¥3,751,655,472[15] Management and Governance - The company’s management team includes Zeng Qinghong as the responsible person, Wang Dan as the accounting supervisor, and Zheng Chao as the head of the accounting institution[21] Debt and Financing Activities - Cash paid for debt repayment was $6,609,732,468, compared to $3,356,447,023 in the previous period, indicating increased debt servicing[21] - Cash inflow from financing activities totaled $8,941,442,280, compared to $6,995,034,578 in the previous period, indicating a significant increase[21] - Cash outflow from financing activities amounted to $8,058,869,825, up from $5,001,028,241, reflecting a rise in financing costs[21] - The net cash flow from financing activities was $882,572,980, compared to $1,994,006,337 in the previous period, showing a decrease[21] Accounting Standards - The company did not apply new accounting standards or interpretations for the first time in 2023[21] Preferred Shares and Bonds - The company has no outstanding preferred shares or perpetual bonds as of the reporting date[17]

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。 GUANGZHOU AUTOMOBILE GROUP CO., LTD. 廣 州 汽 車 集 團 股 份 有 限 公 司 （於中華人民共和國註冊成立的股份有限公司） （股份編號：2238） 海外監管公告 二零二三年第一季度報告 本第一季度報告由廣州汽車集團股份有限公司（「本公司」）根據香港聯合交易所有限公司 證券上市規則第13.09及13.10B條發出。本報告載列的本公司及其附屬公司（「本集團」）第 一季度業績乃根據中國企業會計準則編製，未經審計。本報告之原文以中文撰寫。 重要內容提示 （一） 本公司董事會（「董事會」）、監事會及董事、監事、高級管理人員保證季度報告內容 的真實、準確、完整，不存在虛假記載、誤導性陳述或重大遺漏，並承擔個別和 連帶的法律責任。 （二） 本公司全體董事出席董事會審議季度報告。 （三） 本公司負責人、主管會計工作負責人及會計機構負責人（會計主管人員）保證季度報 ...

Production and Sales Performance - GAC Group's total vehicle production and sales in 2022 reached 2.4799 million and 2.4338 million units, respectively, representing year-on-year growth of 15.99% and 13.50%, outperforming the industry average by 12.6 and 11.4 percentage points[9] - The company's total vehicle sales in 2022 were 2.5 million units, with a significant portion being energy-efficient and new energy vehicles, which accounted for 900,000 units[21] - The company's automobile production and sales in 2022 were 2.4799 million and 2.4338 million units, up 15.99% and 13.50% year-on-year, outperforming the industry average by 12.6 and 11.4 percentage points[58] - Total vehicle sales for 2022 reached 2,433,801 units, a 13.50% year-on-year increase, with passenger vehicle sales growing by 13.61% to 2,433,201 units[136] - GAC Honda achieved production and sales of 767,826 and 741,808 vehicles, down 2.45% and 4.93% year-on-year, with revenue of RMB 115.113 billion, up 0.26% year-on-year[145] - GAC Toyota achieved production and sales of 1,009,265 and 1,005,000 vehicles, up 22.59% and 21.38% year-on-year, with revenue of RMB 163.534 billion, up 26.32% year-on-year[145] - GAC Motor achieved production and sales of 373,499 and 362,548 vehicles, up 15.55% and 11.83% year-on-year, with revenue of RMB 47.809 billion, down 9.60% year-on-year[145] - GAC Aion achieved production and sales of 273,504 and 271,156 vehicles, up 125.33% and 125.67% year-on-year, with revenue of RMB 38.703 billion, up 124.17% year-on-year[145] Financial Performance - GAC Group's consolidated sales revenue reached approximately RMB 514.605 billion, a year-on-year increase of 19.74%, with the company's own sales revenue growing 45.36% to RMB 110.006 billion[10] - Net profit attributable to shareholders of the parent company was RMB 7.983 billion, a year-on-year increase of 6.28%, with basic earnings per share of RMB 0.77[10] - The company's consolidated sales revenue reached 600 billion yuan in 2022, with energy-efficient and new energy vehicle sales contributing 120 billion yuan[21] - The company's net profit attributable to parent company shareholders was 8 billion yuan in 2022, with R&D investment reaching 7 billion yuan[21] - Sales revenue for the reporting period was approximately RMB 110.006 billion, a year-on-year increase of 45.36%, with net profit attributable to parent company shareholders at RMB 7.983 billion, up 6.28% year-on-year[99] - The company's total sales revenue reached approximately RMB 514.605 billion, a year-on-year increase of 19.74%[99] - The company's gross margin decreased by 1.10 percentage points year-on-year, mainly due to the impact of chip shortages and rising raw material prices[105] - Mainland China sales revenue was RMB 106.877 billion, with a gross margin of 3.87%, a year-on-year decrease of 18.53%[108] - Overseas sales revenue was RMB 3.129 billion, with a gross margin of 10.39%, a year-on-year decrease of 50.12%[108] - Total sales revenue was RMB 110.006 billion, with a gross margin of 4.05%, a year-on-year decrease of 21.36%[108] R&D and Innovation - The company invested approximately RMB 6.5 billion in R&D, filed 3,255 new patent applications (including 1,316 invention patents), and accumulated over 14,000 patent applications[12] - The company's self-developed "four-in-one" electric drive system has officially entered production, achieving deep integration of "dual motors + controller + two-speed reducer"[13] - The company's independently developed microcrystalline super iron phosphate battery effectively addresses issues such as slow charging rate, low battery capacity, and weak performance in traditional lithium iron phosphate batteries[13] - The company has leading independent R&D capabilities in new energy and intelligent connected vehicles, including the GEP3.0 pure electric vehicle platform, deep integration "three-in-one" electric drive system, and two-speed dual-motor "four-in-one" integrated electric drive system[47] - R&D expenditure totaled RMB 6.497 billion, accounting for 5.91% of total sales revenue, with a year-on-year increase of RMB 1.389 billion[116] New Energy Vehicles - GAC Group's self-owned brands achieved record sales of 633,700 units, with GAC Trumpchi selling 362,500 units (up 11.83% YoY) and GAC Aion selling 271,200 units (up 125.67% YoY)[10] - GAC Aion's second intelligent manufacturing center was completed and put into operation, with the GAC Intelligent Connected New Energy Vehicle Industrial Park securing investments totaling RMB 45.33 billion[11] - The company plans to achieve a production and sales target of 3.3 million vehicles by the end of the "14th Five-Year Plan" period, with new energy vehicles accounting for over 25% of total vehicle production and sales[15] - The company aims to achieve an annual revenue of RMB 1 trillion and a profit tax of RMB 100 billion by 2030, with a production and sales target exceeding 4.75 million vehicles[15] - GAC Aion's production and sales reached 273,500 and 271,200 vehicles in 2022, a YoY increase of 125.33% and 125.67%, significantly higher than the industry average for new energy passenger vehicles[66] - GAC Aion launched new models including AION Y Plus, AION LX Plus, and Hyper GT, with AION Y and AION S series each selling over 100,000 units, leading their respective market segments[68] - GAC Aion's Hyper GT, unveiled at the Guangzhou Auto Show, features advanced technologies including the AEP 3.0 pure electric platform and the Xingling architecture, along with innovative design elements like electric gull-wing doors and a three-stage electric rear wing[66] - New energy vehicle sales surged by 124.91% year-on-year to 271,449 units, with production increasing by 124.86% to 273,900 units[140] - Revenue from new energy vehicles amounted to RMB 36.666 billion, with subsidies totaling RMB 3.159 billion, accounting for 8.62% of revenue[141] - GAC Aion's new energy vehicle sales exceeded 270,000 units, a year-on-year increase of 125.67%[100] Market Share and Industry Position - The company's market share increased to approximately 9.1%, maintaining its position as the fourth-largest domestic automotive enterprise group[9] - The company's passenger vehicle production and sales in 2022 were 2.4794 million and 2.4332 million units, up 16.11% and 13.61% year-on-year, with a market share of approximately 10.33%[59] - The company's new energy passenger vehicle production and sales in 2022 were 315,900 and 309,500 units, up 118.33% and 116.69% year-on-year[59] - The company's self-owned brand production and sales in 2022 were 647,000 and 633,700 units, with new energy vehicle sales accounting for approximately 43%[60] - GAC Motor achieved annual production and sales of 373,500 and 362,500 vehicles, up 15.55% and 11.83% YoY respectively, despite a significant decline in the conventional energy vehicle market[61] - GAC Toyota's production and sales exceeded 1 million vehicles in 2022, a YoY increase of over 20%, marking a historic high for the company[71] - GAC Toyota sold 294,000 energy-efficient vehicles in 2022, a 60.6% YoY increase, while GAC Honda sold 121,000 energy-efficient vehicles, up 4.4% YoY[71] Capital and Investment - The company completed a total financing of RMB 20.86 billion in 2022, with GAC Aion's post-A-round valuation exceeding RMB 100 billion[14] - The company proposed a final cash dividend of RMB 1.8 per 10 shares (tax inclusive), bringing the total annual dividend payout to approximately RMB 2.516 billion, representing 31.52% of net profit attributable to shareholders[4] - The company issued nearly RMB 18 billion in ABS (Asset-Backed Securities) in 2022, with GAC Financial issuing RMB 15 billion and GAC Leasing issuing RMB 3 billion, significantly reducing comprehensive financing costs[98] - The company has invested RMB 10.9 billion in Yinpai Battery, with plans to build a 36GWh production line by 2025[89] - The company has established a 12GWh standard production capacity at Times GAC, achieving an output of approximately 18GWh in 2022[89] - The company has invested RMB 4.96 billion in GAC Energy to build a charging, swapping, and energy storage ecosystem[89] - The company has invested RMB 2.16 billion in Ruipai Power to enter the self-developed and self-produced electric drive phase[90] - The company has completed investments in 25 new projects, including Huada Semiconductor and Sunwoda EVB, focusing on power batteries, intelligent connectivity, and automotive chips[91] Corporate Governance and Strategy - The company plans to achieve a year-on-year growth of 10% in vehicle production and sales in 2023, maintaining a growth rate higher than the industry average[16] - The company established Youpai Energy Technology as the main entity for its energy sector, aiming to build a diversified energy ecosystem and create a new growth point for a RMB 100 billion-level industry[17] - The company is accelerating internationalization efforts, expanding overseas market layouts and increasing exports of self-branded products[17] - The company is advancing the spin-off and listing of GAC Aion and enhancing capital operation capabilities, focusing on strategic investments in upstream raw materials and chips in the new energy sector[18] - The company is promoting digital transformation across the entire industry chain, driving the upgrade of production and operation digitization[18] - The company aims to achieve annual production and sales of 3.65 million vehicles by the end of the 14th Five-Year Plan, with new energy vehicles accounting for over 25% of total production and sales[149] - The company plans to challenge a 10% year-on-year growth in vehicle sales for 2023, aiming to maintain growth above the industry average[152] - The company plans to launch over 10 new and facelifted models in 2023, including new energy MPVs and SUVs, and hybrid versions of existing models[152] - The company aims to achieve annual production and sales exceeding 4.75 million vehicles, with annual revenue of RMB 1 trillion and taxes and profits of RMB 100 billion by 2030[150] - The company plans to implement the "GLASS Green Plan" to achieve carbon neutrality across the product lifecycle by 2050, with a challenge to achieve it by 2045[150] Industry Trends and Challenges - In 2022, the domestic automobile production and sales were 27.021 million and 26.864 million units, respectively, with year-on-year growth of 3.4% and 2.1%[51] - Passenger vehicle production and sales in 2022 were 23.836 million and 23.563 million units, up 11.2% and 9.5% year-on-year, with SUV production and sales leading at 11.381 million and 11.187 million units, respectively[52] - Chinese brand passenger vehicle sales reached 11.766 million units, a 22.8% increase, accounting for 49.9% of total passenger vehicle sales[55] - Commercial vehicle production and sales in 2022 were 3.185 million and 3.300 million units, down 31.9% and 31.2% year-on-year[57] - The company expects the domestic automotive market to grow by around 3% in 2023, with new energy vehicle market penetration expected to exceed 30%[148] - Global chip supply shortages persist, particularly for high-performance chips like MCUs, posing significant supply chain risks for domestic automakers[156] - Battery-grade lithium carbonate prices remain high, exerting cost pressure on automakers despite a slight decrease from 2022 peaks[157] - The termination of new energy vehicle purchase subsidies in 2023 shifts the industry from policy-driven to market-driven, requiring companies to adjust product development and enhance competitiveness[159] Corporate Governance and Board Activities - The company held 21 board meetings and 15 specialized committee meetings in 2022, reflecting robust corporate governance practices[162] - The company established 8 new internal management systems and revised 50 existing ones, including the Data Security Management System, to enhance governance[162] - Shareholders holding 10% or more of voting shares can request an extraordinary general meeting, which must be convened within 2 months of the request[162] - Shareholders holding 3% or more of shares can propose agenda items for general meetings 10 days prior to the meeting[163] - The company held 1 annual general meeting, 2 extraordinary general meetings, and 1 class meeting for A-share and H-share shareholders in 2022[165] - The board consists of 11 members, including 4 independent directors with diverse professional backgrounds, ensuring balanced decision-making[167] - The board is responsible for key decisions, including annual financial budgets, medium-to-long-term development plans, and investment strategies[168] - The company's Board of Directors is responsible for supervising the preparation of annual financial statements, ensuring they reflect the true and fair financial performance and position of the company[172] - The Board of Directors has established various specialized committees, including the Strategy Committee, Audit Committee, and Compensation Committee, to oversee key areas such as long-term development strategies, financial audits, and executive compensation[183] - The company has implemented an Independent Director system to ensure independent perspectives and opinions are provided on major decisions, with independent directors fulfilling their duties without influence from controlling shareholders[179] - The Audit Committee, composed of three independent directors, held 7 meetings during the reporting period to review annual, interim, and quarterly reports, profit distribution, and internal control systems[183] - The company has adopted a Standard Code of Conduct for directors' securities transactions, and all directors confirmed compliance with this code during the 2022 fiscal year[177] - The Board of Directors has established and reviewed corporate governance policies, compliance manuals, and employee conduct guidelines to ensure adherence to legal and regulatory requirements[173] - The company has provided training to directors on corporate governance, director responsibilities, and operational management, with all directors meeting the professional training requirements under the listing rules[176] - The company has developed and reviewed plans for profit distribution, capital increase or reduction, and major acquisitions, ensuring compliance with legal and regulatory frameworks[170] - The company has established a risk management, compliance management, and internal control system, with the Board responsible for overseeing its implementation and effectiveness[170] - The company has submitted annual reports and audit arrangements to independent directors, who have communicated with auditors regarding audit-related issues[180] Human Resources and Diversity - The company's female employees accounted for 17.8% of the total workforce, with 17,792 female employees and 82,329 male employees as of December 31, 2022[189] - The company plans to add one or more female directors to the board by December 31, 2024, to achieve gender diversity[186] - The company's senior management compensation for 2022 ranged from RMB 1,000,001 to RMB 4,000,000, with 6 executives in the RMB 1,000,001-2,000,000 range and 6 in the RMB 3,000,001-4,000,000 range[196] - The company's board of directors consists of 6 members, with 3 being independent directors and 3 being employee representatives[192] - The company's nomination committee held 1 meeting in 2022 to review and propose recommendations on the appointment and removal of senior management[185] - The company's remuneration and assessment committee held 3 meetings in 2022 to review and propose recommendations on senior management compensation and stock option incentive plans[184] - The company's board of directors has a diversity policy that considers gender, age, education, race, professional experience, skills, and knowledge when appointing members[186] - The company's nomination committee is responsible for evaluating and selecting director candidates, considering the company's strategy and the benefits of board diversity[190] - The company's senior management is responsible for implementing the board's resolutions, managing daily operations, and proposing the appointment or dismissal of deputy managers and financial officers[195] - The company's board of directors has a nomination policy that requires the nomination committee to review the board's size and composition annually and propose changes to align with the company's strategy[190] Investor Relations and Communication - The company has established an "Investor Relations Management System" and an "Investor Complaint Handling Work System" to ensure effective communication with shareholders[199] - The company engages with investors through various channels including shareholder meetings, the SSE e-interaction platform, the company's official website investor relations section, investor open days, investor hotlines, email, on-site research visits, earnings briefings, roadshows, and reverse roadshows[199] - The company's external auditor is PricewaterhouseCoopers, and the auditor's fees are disclosed in the "Important Matters" section of the report under "Appointment and Dismissal of Accounting Firms"[198]

Financial Performance - The company achieved total automotive production and sales of 2.4799 million and 2.4338 million units, representing year-on-year growth of 15.99% and 13.50%, respectively, outperforming the industry average by 12.6 and 11.4 percentage points[13]. - Total revenue reached approximately CNY 514.605 billion, a year-on-year increase of about 19.74%, while consolidated revenue was approximately CNY 110.006 billion, up 45.36%[15]. - Net profit attributable to shareholders was approximately CNY 8.068 billion, reflecting a year-on-year growth of 10.00%[15]. - The total revenue for 2022 was approximately ¥109.33 billion, an increase of 45.57% compared to ¥75.11 billion in 2021[33]. - The net profit attributable to shareholders for 2022 was approximately ¥8.07 billion, up 10% from ¥7.33 billion in 2021[33]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately ¥7.50 billion, representing a 25.42% increase from ¥5.98 billion in 2021[33]. - The total revenue for the reporting period was approximately RMB 1,100.06 billion, an increase of about 45.36% compared to the same period last year[116]. - The net profit attributable to shareholders was approximately RMB 80.68 billion, reflecting a year-on-year increase of about 10.00%[116]. Dividends and Shareholder Returns - The company plans to distribute a final cash dividend of CNY 1.8 per 10 shares, with total cash dividends for the year amounting to approximately CNY 2.516 billion, representing about 31.19% of the net profit attributable to shareholders[6]. Research and Development - R&D investment exceeded CNY 6.5 billion, with 3,255 new patent applications filed, including 1,316 invention patents, bringing the total patent applications to over 14,000[18]. - The R&D expenses increased by 72.60% to RMB 17.07 billion, indicating a strong focus on innovation and product development[118]. - The company’s R&D personnel numbered 6,581, accounting for 18.1% of the total workforce[134]. Production and Sales Goals - The company aims to achieve a production and sales volume of 3.3 million vehicles by the end of the 14th Five-Year Plan, with a target of 3.65 million vehicles[19]. - By 2030, GAC Group targets to exceed 4.75 million in production and sales, with total revenue reaching 1 trillion yuan and tax revenue of 100 billion yuan[19]. - GAC Group plans to increase the proportion of new energy vehicles to over 25% of total vehicle production and sales[19]. - The company aims to produce and sell 4.75 million vehicles and achieve revenue of RMB 100 billion by 2025 as part of its long-term development plan[45]. Market Position and Share - The company’s market share increased to approximately 9.1%, maintaining its position as the fourth largest automotive group in China[13]. - GAC Group's total automotive production capacity reached 3.065 million units per year, following the completion of several capacity expansion projects[102]. - GAC Group's international business established 120 outlets globally, with exports of self-owned brand vehicles reaching 33,000 units in 2022, a year-on-year increase of 59.7%[58]. New Energy Vehicles and Innovation - GAC Group is committed to a year-on-year growth of 10% in vehicle production and sales, maintaining growth above the industry average[21]. - GAC Aion achieved a production and sales volume of 273,500 and 271,200 units in 2022, representing a year-on-year growth of 125.33% and 125.67%, significantly outperforming the new energy passenger vehicle industry average[55]. - GAC Aion launched new models including AION Y Plus, AION LX Plus, and AION V Plus, with AION Y and AION S series each exceeding 100,000 units in sales, maintaining a leading position in their market segments[55]. - The company launched the ADiGO PILOT intelligent driving system, which supports full-scene intelligent travel, and initiated demonstration operations for its autonomous Robotaxi[18]. Financial Health and Cash Flow - The net cash flow from operating activities for 2022 was approximately -¥5.35 billion, a slight improvement from -¥5.59 billion in 2021[33]. - The net cash flow from operating activities for the reporting period was a net outflow of approximately RMB 5.349 billion, a decrease of RMB 240 million compared to the same period last year[136]. - The group's cash and cash equivalents as of December 31, 2022, were approximately RMB 37.479 billion, an increase of approximately RMB 15.139 billion compared to December 31, 2021[136]. Strategic Initiatives and Future Plans - The company is focusing on "new four modernizations" and aims to establish three ecological carriers: energy technology, industrial chain, and industrial cluster[21]. - GAC Group is advancing digital transformation across the entire industry chain to promote digital upgrades in production and operations[22]. - The company is pursuing mixed ownership reform and plans to accelerate the spin-off listing of GAC Aion[22]. - GAC Group plans to implement the "GLASS Green Clean Plan" to achieve carbon neutrality in product life cycles by 2050, with a challenge to reach this goal by 2045[165]. Risks and Challenges - The company faces risks from macroeconomic fluctuations, including decreased consumer purchasing power and external economic uncertainties[168]. - Ongoing global chip supply shortages pose significant supply chain risks, particularly for high-performance chips[169]. - Rising raw material costs, especially for battery-grade lithium carbonate, continue to exert pressure on automotive production costs[171]. - The termination of new energy vehicle purchase subsidies in 2023 requires companies to adjust product development and enhance competitiveness[172]. Governance and Management - The board of directors consists of 11 members, including 4 independent directors, representing over one-third of the board[180]. - The company held 21 board meetings during the reporting period, adhering to legal and procedural requirements[180]. - The company has implemented measures to ensure the independence of its operations and governance structure[193].

[Financial Statement Summary](index=2&type=section&id=%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) [Consolidated Statement of Comprehensive Income](index=2&type=section&id=%E5%90%88%E4%BD%B5%E7%B6%9C%E5%90%88%E6%94%B6%E7%9B%8A%E8%A1%A8) In FY2022, revenue grew 45.36% to RMB 110.01 billion, but a wider operating loss was offset by profits from associates, resulting in a net profit of RMB 7.91 billion Key Performance Indicators | Metric (RMB in thousands) | 2022 | 2021 | YoY Change | | :--- | :--- | :--- | :--- | | **Sales Revenue** | 110,006,437 | 75,675,765 | +45.36% | | **Gross Profit** | 4,456,909 | 3,898,920 | +14.31% | | **Operating Loss** | (6,667,851) | (3,625,562) | +83.91% | | **Share of Net Profit of JVs & Associates** | 14,065,159 | 11,403,900 | +23.33% | | **Profit for the Year** | 7,912,342 | 7,565,697 | +4.58% | | **Profit Attributable to Owners of the Company** | 7,982,930 | 7,511,030 | +6.28% | Earnings Per Share | Metric (RMB) | 2022 | 2021 | | :--- | :--- | :--- | | **Basic Earnings Per Share** | 0.77 | 0.73 | | **Diluted Earnings Per Share** | 0.77 | 0.73 | [Consolidated Balance Sheet](index=4&type=section&id=%E5%90%88%E4%BD%B5%E8%B3%87%E7%94%A2%E8%B2%A0%E5%82%B5%E8%A1%A8) As of year-end 2022, total assets reached RMB 190.07 billion and total equity grew 32.01% to RMB 122.30 billion, driven by business expansion and GAC AION's financing Key Balance Sheet Items | Metric (RMB in thousands) | Dec 31, 2022 | Dec 31, 2021 | YoY Change | | :--- | :--- | :--- | :--- | | **Total Assets** | 190,074,774 | 154,250,589 | +23.22% | | **Total Liabilities** | 67,772,460 | 61,601,804 | +9.99% | | **Total Equity** | 122,302,314 | 92,648,785 | +32.01% | | **Equity Attributable to Owners of the Company** | 113,288,706 | 90,313,311 | +25.44% | - Current assets increased by 50% from RMB 61.19 billion to RMB 91.79 billion, primarily driven by increases in **cash and cash equivalents** (from RMB 17.24 billion to RMB 34.22 billion) and **inventories** (from RMB 8.11 billion to RMB 12.36 billion)[4](index=4&type=chunk) [Segment Information](index=8&type=section&id=3.%20%E5%88%86%E9%83%A8%E4%BF%A1%E6%81%AF) The auto segment contributed most revenue (RMB 106.44 billion) but incurred a loss, making the Group's profit highly dependent on investment income from associates Segment Performance (2022) | Segment (RMB in thousands) | Revenue (from external customers) | Segment Results | | :--- | :--- | :--- | | **Automobiles & Related Trading** | 106,435,467 | (5,895,702) | | **Others** | 3,570,970 | 320,085 | - The Automobiles segment recognized significant impairment losses, including **RMB 1.51 billion on investments in joint ventures** and **RMB 1.09 billion on intangible assets**, which were major contributors to the segment's loss[13](index=13&type=chunk)[19](index=19&type=chunk) [Chairman's Statement](index=22&type=section&id=%E8%91%A3%E4%BA%8B%E9%95%B7%E8%87%B4%E8%BE%AD) The Chairman highlighted counter-cyclical growth despite challenges, progress in NEV transformation, and the "Trillion GAC 1578" development plan for the future 2022 Key Performance | 2022 Key Performance | Data/Performance | | :--- | :--- | | **Auto Production/Sales** | 2.48 million units / 2.43 million units | | **Production/Sales YoY Growth** | 15.99% / 13.50% | | **Proprietary Brand Sales** | 633,700 units (All-time high) | | **GAC AION Sales** | 271,200 units (YoY growth of 125.67%) | | **Group Sales Revenue** | RMB 110.01 billion (YoY growth of 45.36%) | | **Net Profit Attributable to Parent** | RMB 7.98 billion (YoY growth of 6.28%) | - The core strategy is to build a vertically integrated new energy industry chain, covering the entire closed loop from lithium mining and battery production to battery recycling[42](index=42&type=chunk) - The "Trillion GAC 1578 Development Outline" blueprint aims for **over 4.75 million units in sales**, **revenue exceeding RMB 1 trillion**, and profit and tax over RMB 100 billion by 2030[43](index=43&type=chunk) - For 2023, the company targets a **10% YoY growth in auto production and sales**, focusing on the "New Four Modernizations" transformation[44](index=44&type=chunk)[45](index=45&type=chunk) [Business Overview and Core Competencies](index=27&type=section&id=%E5%85%AC%E5%8F%B8%E6%A5%AD%E5%8B%99%E6%A6%82%E8%A6%81) [Company Business Overview](index=27&type=section&id=%EF%BC%88%E4%B8%80%EF%BC%89%E6%A5%AD%E5%8B%99%E6%A6%82%E8%A6%81) The Group's business covers the entire automotive value chain, with vehicle manufacturing as its core, operated through subsidiaries and joint ventures - Business segments form a complete automotive industry closed loop: R&D, vehicle manufacturing, parts, commercial services, finance, and mobility[46](index=46&type=chunk) - The vehicle product matrix is extensive, covering sedans, SUVs, and MPVs, with a total annual production capacity of **3.065 million units** as of the reporting period[47](index=47&type=chunk)[48](index=48&type=chunk) - A dual-track sales model of "direct + dealership, online + offline" is used, with **2,684 4S stores** nationwide and expansion into 28 overseas countries and regions[48](index=48&type=chunk) [Core Competency Analysis](index=29&type=section&id=%EF%BC%88%E4%BA%8C%EF%BC%89%E5%A0%B1%E5%91%8A%E6%9C%9F%E5%85%A7%E6%A0%B8%E5%BF%83%E7%AB%B6%E7%88%AD%E5%8A%9B%E5%88%86%E6%9E%90) Core competencies are built on a complete industry chain, advanced manufacturing, a diverse product line, a unique R&D system, and a dual-listing capital platform - The company possesses one of China's most complete automotive industry chains and is enhancing its new energy layout by establishing companies like In-power Battery and Hyptec Power[54](index=54&type=chunk) - In the NEV field, the company holds core technologies such as the **GEP3.0 pure electric platform**, sponge silicon anode battery technology, and magazine battery technology[58](index=58&type=chunk) - In intelligent connectivity, the company has independently developed the **ADiGO PILOT intelligent driving system** and the "X-Soul" E/E architecture[58](index=58&type=chunk) - An **A+H share capital platform** has been established, facilitating financing and resource allocation through both domestic and international capital markets[59](index=59&type=chunk) [Management Discussion and Analysis](index=32&type=section&id=%E7%B6%93%E7%87%9F%E6%83%85%E6%B3%81%E7%9A%84%E8%A8%8E%E8%AB%96%E8%88%87%E5%88%86%E6%9E%90) [Industry Analysis](index=32&type=section&id=%EF%BC%88%E4%B8%80%EF%BC%89%E8%A1%8C%E6%A5%AD%E6%83%85%E6%B3%81%E5%88%86%E6%9E%90) In 2022, China's auto market saw stable growth, with domestic brands' market share rising to 49.9% and the NEV market reaching a 25.6% penetration rate - In 2022, domestic auto production and sales reached **27.02 million** and **26.86 million units**, up 3.4% and 2.1% YoY, respectively[60](index=60&type=chunk) - NEV production and sales reached **7.06 million** and **6.89 million units**, growing 96.9% and 93.4% YoY, with a market penetration rate of **25.6%**[61](index=61&type=chunk) - Sales of Chinese brand passenger cars grew 22.8% YoY, capturing a **market share of 49.9%**, while German, Japanese, American, and Korean brands saw their shares decline[60](index=60&type=chunk) [Company Performance Analysis](index=33&type=section&id=%EF%BC%88%E4%BA%8C%EF%BC%89%E5%85%AC%E5%8F%B8%E7%B6%93%E7%87%9F%E6%83%85%E6%B3%81%E5%88%86%E6%9E%90) The Group achieved significant growth in auto sales, driven by record sales from its proprietary brands and the doubling of GAC AION's sales Production and Sales Volume | Category | 2022 Production (million units) | 2022 Sales (million units) | YoY Growth (Sales) | | :--- | :--- | :--- | :--- | | **Group Total** | 2.48 | 2.43 | +13.50% | | **Proprietary Brands** | 0.65 | 0.63 | - | | **GAC AION** | 0.27 | 0.27 | +125.67% | | **GAC Toyota** | 1.01 | 1.01 | +21.38% | - GAC AION completed its mixed-ownership reform, raising a total of **RMB 20.86 billion** through employee stock ownership and Series A financing, achieving a post-money valuation of **over RMB 100 billion**[68](index=68&type=chunk)[69](index=69&type=chunk) - The company accelerated its NEV industry chain layout, including investments in lithium resources and establishing entities for power batteries (In-power) and electric drives (Hyptec Power)[70](index=70&type=chunk)[71](index=71&type=chunk) - Significant R&D achievements include the mass production of the GMC hybrid system and a proprietary "four-in-one" electric drive, with the ADiGO PILOT system deployed in multiple models[72](index=72&type=chunk)[73](index=73&type=chunk) [Main Business Analysis](index=43&type=section&id=%EF%BC%88%E5%9B%9B%EF%BC%89%E4%B8%BB%E7%87%9F%E6%A5%AD%E5%8B%99%E5%88%86%E6%9E%90) In 2022, sales revenue grew 45.36% to RMB 110.01 billion, driven by proprietary brand sales, but a faster rise in costs squeezed the overall gross margin to 4.05% Performance by Business Segment | By Industry (RMB in hundred millions) | Sales Revenue | Cost of Sales | Gross Margin (%) | | :--- | :--- | :--- | :--- | | **Vehicle Manufacturing** | 786.72 | 778.03 | 1.10 | | **Parts Manufacturing** | 38.31 | 35.45 | 7.47 | | **Commercial Services** | 239.32 | 221.30 | 7.53 | | **Financial & Other** | 35.71 | 20.72 | 41.98 | | **Total** | 1,100.06 | 1,055.50 | 4.05 | - Total R&D expenditure was **RMB 6.50 billion**, a 27.17% YoY increase, accounting for 5.91% of sales revenue, with a high capitalization rate of **78.16%**[91](index=91&type=chunk) - The share of profit from joint ventures and associates was **RMB 14.07 billion**, up 23.33% YoY, serving as the core source of the Group's profit, mainly from Japanese joint ventures[79](index=79&type=chunk)[92](index=92&type=chunk) [Analysis of Assets and Liabilities](index=50&type=section&id=%EF%BC%88%E4%BA%94%EF%BC%89%E8%B3%87%E7%94%A2%E3%80%81%E8%B2%A0%E5%82%B5%E6%83%85%E6%B3%81%E5%88%86%E6%9E%90) Significant changes were noted in balance sheet items, including a 52.41% increase in inventories and a 476.87% surge in certain financial assets Analysis of Major Balance Sheet Changes | Item (RMB in hundred millions) | Closing Balance | Change (%) | Primary Reason | | :--- | :--- | :--- | :--- | | **Inventories** | 123.62 | +52.41 | Increased stocking for production and sales growth | | **Current Borrowings** | 138.13 | +39.68 | Increased funding needs for business development | | **Financial Assets at FVTOCI (Current)** | 40.90 | +476.87 | Increased holdings of transferable CDs | [Financial Condition Analysis](index=51&type=section&id=%EF%BC%88%E5%85%AD%EF%BC%89%E8%B2%A1%E5%8B%99%E7%8B%80%E6%B3%81%E5%88%86%E6%9E%90) As of year-end 2022, the Group's financial position was robust with improved liquidity, as the current ratio rose to 1.62 and the gearing ratio remained healthy Key Financial Ratios | Financial Metric | Dec 31, 2022 | Dec 31, 2021 | | :--- | :--- | :--- | | **Current Ratio** | 1.62 | 1.25 | | **Quick Ratio** | 1.40 | 1.08 | | **Gearing Ratio** | 13.76% | - | [Automobile Manufacturing Operational Information Analysis](index=52&type=section&id=%EF%BC%88%E4%B8%83%EF%BC%89%E6%B1%BD%E8%BB%8A%E8%A3%BD%E9%80%A0%E8%A1%8C%E6%A5%AD%E7%B6%93%E7%87%9F%E6%80%A7%E4%BF%A1%E6%81%AF%E5%88%86%E6%9E%90) In 2022, total vehicle sales reached 2.43 million units, with GAC Toyota and GAC AION operating at high capacity utilization rates of 113.32% and 145.71% Plant Capacity Utilization | Major Plant | Design Capacity (million units) | Production Volume (million units) | Capacity Utilization (%) | | :--- | :--- | :--- | :--- | | **GAC Honda** | 0.77 | 0.77 | 99.71 | | **GAC Toyota** | 1.00 | 1.01 | 113.32 | | **GAC Motor (incl. AION)** | 1.08 | 0.67 | 70.05 | | **GAC AION Smart Eco-Factory** | 0.36 | 0.27 | 145.71 | Sales by Vehicle Type | Vehicle Category | 2022 Sales (units) | YoY Change (%) | | :--- | :--- | :--- | | **Passenger Vehicles** | 2,433,201 | +13.61% | | **of which: Sedans** | 1,125,733 | +11.15% | | **of which: SUVs** | 1,085,039 | +12.07% | | **of which: MPVs** | 222,429 | +38.40% | | **Total Automobiles** | 2,433,801 | +13.50% | [Future Outlook and Risks](index=57&type=section&id=%E6%9C%AA%E4%BE%86%E7%99%BC%E5%B1%95%E7%9A%84%E8%A8%8E%E8%AB%96%E8%88%87%E5%88%86%E6%9E%90) [Industry Landscape and Trends](index=57&type=section&id=1.%20%E8%A1%8C%E6%A5%AD%E6%A0%BC%E5%B1%80%E5%92%8C%E8%B6%A8%E5%8B%A2) China's auto market is in a transitional phase, characterized by the rising share of domestic brands, accelerating electrification, and strong export growth - In 2023, the market share of **domestic brands is expected to exceed 50%**, and the **NEV market penetration rate is projected to surpass 30%**[111](index=111&type=chunk) - Supply chain issues such as **"expensive batteries and chip shortages"** will remain severe challenges for the industry in 2023[111](index=111&type=chunk) [Company Development Strategy](index=58&type=section&id=2.%20%E5%85%AC%E5%8F%B8%E7%99%BC%E5%B1%95%E6%88%B0%E7%95%A5) The Group's strategy is guided by the "1615" plan and the "Trillion GAC 1578" blueprint, focusing on innovation, electrification, and carbon neutrality - The "14th Five-Year" target is to challenge annual production and sales of **3.65 million units**, with NEVs accounting for over **25%** and proprietary brands reaching **1 million units**[112](index=112&type=chunk) - The "Trillion GAC 1578" blueprint aims for **sales over 4.75 million units** and **revenue exceeding RMB 1 trillion** by 2030, becoming a world-class technology company[112](index=112&type=chunk) [2023 Business Plan](index=59&type=section&id=3.%20%E7%B6%93%E7%87%9F%E8%A8%88%E5%8A%83) For 2023, the Group targets a 10% YoY growth in vehicle sales, supported by the launch of over 10 new models and a focus on its core industrial chain - The 2023 business objective is to challenge a **10% year-over-year growth in total vehicle sales**[113](index=113&type=chunk) - Over **10 new models are planned for launch**, including the Trumpchi GS3 Yingsu and AION Hyper SSR/GT, to enhance the product mix[113](index=113&type=chunk) - The company will strengthen its supply chain through a three-pronged approach of **independent R&D, joint ventures, and M&A** to build a self-reliant core industry chain[114](index=114&type=chunk) [Potential Risk Analysis](index=60&type=section&id=4.%20%E5%8F%AF%E8%83%BD%E9%9D%A2%E5%B0%8D%E7%9A%84%E9%A2%A8%E9%9A%AA) The company faces risks from macroeconomic fluctuations, supply chain disruptions, high raw material costs, and intensified competition post-NEV subsidies - **Macroeconomic Volatility**: Economic pressures of contracting demand, supply shocks, and weakening expectations may impact auto consumption[115](index=115&type=chunk) - **Supply Chain Risk**: The ongoing global chip shortage, especially for high-compute MCUs, continues to affect production and operations[116](index=116&type=chunk) - **Raw Material Cost Risk**: High prices of raw materials like battery-grade lithium carbonate create uncertainty for profit targets[117](index=117&type=chunk) - **Policy Risk**: The termination of national NEV subsidies in 2023 shifts the industry to market-driven dynamics, intensifying competition[118](index=118&type=chunk) [Other Disclosures](index=62&type=section&id=%E5%85%B6%E4%BB%96%E6%8A%AB%E9%9C%B2%E4%BA%8B%E9%A0%85) [Dividend Policy](index=62&type=section&id=%EF%BC%88%E4%BA%94%EF%BC%89%E8%82%A1%E6%81%AF) The Board proposed a final dividend of RMB 0.18 per share, bringing the total annual dividend to RMB 0.24 per share, with a total payout of RMB 2.52 billion Dividend Payout | Dividend Item | FY 2022 | FY 2021 | | :--- | :--- | :--- | | **Interim Dividend (per share, RMB)** | 0.06 | 0.05 | | **Proposed Final Dividend (per share, RMB)** | 0.18 | 0.17 | | **Total Annual Dividend (per share, RMB)** | 0.24 | 0.22 |

广州汽车集团股份有限公司 关于召开 2022 年度业绩说明会的公告 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。 重要内容提示： 会议召开时间：2023 年 3 月 30 日(星期四) 上午 9:30-10:45 | A股代码:601238 | | --- | | H股代码:02238 | H股代码：02238 H 股简称：广汽集团 A股代码：601238 A股简称：广汽集团 公告编号：临2023-027 会议召开地点：上证路演中心（http://roadshow.sseinfo.com/）、广汽 集团微信视频号、全时（https://l.qsh1.cn/activity/4igUTGl） 会议召开方式：网络直播和文字互动 投资者可于 2023 年 03 月 23 日(星期四) 至 03 月 29 日(星期三)16:00 前 登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 ir@gac.com.cn 进行提问。公司将在说明会上对投资者普遍关注的问题进行回 答。 广州汽车集团股份有限公司（下称"公司"或"本公司" ...

Financial Performance - The company's operating revenue for Q3 2022 reached ¥31,527,181,459, representing a year-on-year increase of 51.58%[4] - Net profit attributable to shareholders was ¥2,311,632,940, a significant increase of 144.07% compared to the same period last year[4] - The net profit after deducting non-recurring gains and losses was ¥2,087,296,736, reflecting a remarkable growth of 292.70% year-on-year[4] - Total operating revenue for the first three quarters of 2022 reached ¥80.37 billion, a 44.8% increase from ¥55.51 billion in the same period of 2021[17] - Net profit for the third quarter of 2022 was ¥8.05 billion, up 52.5% from ¥5.29 billion in the third quarter of 2021[18] - Total profit for the third quarter of 2022 was ¥7.84 billion, a 50.4% increase from ¥5.20 billion in the same quarter of 2021[18] - Investment income for the first three quarters of 2022 was ¥12.27 billion, up 48.0% from ¥8.28 billion in the same period of 2021[17] Earnings and Shareholder Returns - The basic earnings per share for the period was ¥0.23, an increase of 155.56% compared to the same period last year[4] - The diluted earnings per share also stood at ¥0.23, reflecting a growth of 130.00% year-on-year[4] - Earnings per share for the third quarter of 2022 was ¥0.78, compared to ¥0.51 in the same quarter of 2021, reflecting a 52.9% increase[19] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥173,474,416,350, an increase of 12.50% from the end of the previous year[5] - The company's total equity attributable to shareholders was CNY 100.41 billion, compared to CNY 90.26 billion in the previous year, marking an increase of around 11.7%[16] - The company's total liabilities reached CNY 69.57 billion, up from CNY 61.60 billion, representing an increase of about 12.8%[15] - Total current liabilities increased to CNY 60.11 billion from CNY 48.81 billion, reflecting a rise of approximately 23.2%[15] Cash Flow - The net cash flow from operating activities for the year-to-date was -¥2,005,511,838, showing a decrease of 72.56% compared to the previous year[4] - The company reported a net cash outflow from operating activities of ¥2.01 billion, an improvement from a net outflow of ¥7.31 billion in the same period last year[21] - The company generated cash inflow from operating activities totaling ¥108.38 billion, significantly higher than ¥62.85 billion in the previous year[21] - Net cash flow from financing activities amounted to ¥6,976,933,905, a significant increase compared to a net outflow of ¥122,121,466 in the previous period[22] Inventory and Investments - The inventory level rose to CNY 11.46 billion, up from CNY 8.11 billion, which is an increase of approximately 41.5% year-over-year[14] - The company's long-term equity investments increased to CNY 40.90 billion from CNY 36.90 billion, showing a growth of about 10.4%[14] Research and Development - Research and development expenses increased to ¥947.20 million, representing a 24.5% rise compared to ¥760.74 million in the previous year[17] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 108,639[9] Other Financial Metrics - The weighted average return on net assets was 2.32%, with an increase of 1.23 percentage points compared to the same period last year[4] - The company reported a decrease in financial expenses, with interest expenses dropping to ¥192.48 million from ¥325.02 million in the previous year[17] Cash and Cash Equivalents - The company's cash and cash equivalents reached CNY 35.04 billion, up from CNY 24.04 billion in the previous year, indicating a year-over-year increase of about 45.7%[14] - Total cash and cash equivalents at the end of the period reached ¥33,309,470,468, up from ¥21,666,989,083 in the previous year, indicating a net increase of ¥10,969,942,656[22] Financing Activities - Cash inflows from financing activities totaled ¥23,036,600,865, compared to ¥9,807,433,618 in the previous period, reflecting a growth of approximately 134.5%[22] - Cash outflows from financing activities were ¥16,059,666,960, an increase from ¥9,929,555,084, representing a rise of about 61.9%[22] - Cash received from borrowings was ¥14,106,361,222, compared to ¥7,283,160,940, showing an increase of approximately 93.5%[22] - Cash paid for debt repayment was ¥9,855,939,511, up from ¥6,691,760,171, indicating a rise of about 47.5%[22] - Cash received from other financing activities was ¥6,012,420,490, compared to ¥2,420,514,713, marking an increase of approximately 148.5%[22] Accounting Standards - The company did not apply new accounting standards or interpretations for the first time in 2022[23] - The company’s board of directors announced the financial results on October 28, 2022[23]

Financial Performance - Revenue for the third quarter reached RMB 31.53 billion, representing a 51.58% increase year-on-year[3] - Net profit attributable to shareholders increased by 144.07% to RMB 2.31 billion for the third quarter[3] - The basic earnings per share rose by 155.56% to RMB 0.23 for the third quarter[3] - Total revenue for the first three quarters of 2022 reached RMB 80.37 billion, a 44.8% increase from RMB 55.51 billion in the same period of 2021[20] - Operating profit for the first three quarters of 2022 was RMB 7.84 billion, up 50.7% from RMB 5.19 billion in the first three quarters of 2021[21] - Net profit attributable to shareholders of the parent company for the first three quarters of 2022 was RMB 8.06 billion, compared to RMB 5.28 billion in the same period of 2021, representing a 52.5% increase[21] - The total comprehensive income for the first three quarters of 2022 was RMB 7.85 billion, compared to RMB 4.99 billion in the same period of 2021, indicating a 57.5% increase[21] - Net profit attributable to shareholders increased by 52.59%, primarily due to the growth in sales and operating revenue, along with substantial increases in investment income from joint ventures and associates[31] - Basic earnings per share for the first three quarters of 2022 were RMB 0.78, compared to RMB 0.51 in the same period of 2021, reflecting a 52.9% increase[21] Asset and Liability Management - Total assets increased by 12.50% to RMB 173.47 billion compared to the end of the previous year[2] - Current liabilities reached 60,108,381,264 RMB, up from 48,806,258,545 RMB in the previous year[17] - Non-current liabilities decreased to 9,458,913,492 RMB from 12,795,545,116 RMB year-over-year[18] - The total liabilities of the company were 69,567,294,756 RMB, compared to 61,601,803,661 RMB in the previous year[18] - The company's equity attributable to shareholders increased to RMB 103.91 billion as of September 30, 2022, from RMB 92.59 billion at the end of 2021, reflecting an increase of 12.5%[19] Cash Flow and Investment - Net cash flow from operating activities showed a significant improvement, with a 72.56% increase year-to-date, totaling RMB -2.01 billion[3] - Operating cash flow for the first three quarters of 2022 was -2,005,511,838 RMB, an improvement of 72.56% compared to -7,309,661,191 RMB in the same period of 2021[22] - Cash inflow from investment activities for the first three quarters of 2022 was 16,444,987,607 RMB, compared to 15,423,451,597 RMB in the same period of 2021[23] - Cash inflow from financing activities totaled 23,036,600,865 RMB in the first three quarters of 2022, significantly up from 9,807,433,618 RMB in 2021[24] - The net increase in cash and cash equivalents for the first three quarters of 2022 was 10,969,942,656 RMB, compared to a decrease of 4,624,296,483 RMB in 2021[24] Sales and Market Performance - Sales of self-owned brand vehicles significantly increased, with "Aion" new energy vehicle sales exceeding 180,000 units, a year-on-year growth of 132.09%[6] - Operating revenue increased by 45.10%, driven by a significant rise in sales of self-branded vehicles, particularly the "Aion" new energy vehicles, which saw cumulative sales exceed 180,000 units, a growth of 132.09% year-on-year[31] Research and Development - Research and development expenses for the first three quarters of 2022 were RMB 947.20 million, up 24.5% from RMB 760.74 million in the same period of 2021[20] - The company plans to continue expanding its market presence and investing in new technologies to enhance product offerings and drive future growth[31] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 108,639[8] - The largest shareholder, Guangzhou Automobile Industry Group Co., Ltd., holds 52.64% of the shares[8] - Guangzhou Automobile Group Co., Ltd. holds 5,508,160,069 shares, accounting for approximately 52.64% of the total share capital[12] Governance and Leadership - The company implemented new accounting standards starting in 2022, affecting the financial statements from the beginning of the year[50] - The board of directors includes both executive and non-executive members, ensuring diverse oversight[50] - The chairman of the board is Zeng Qinghong, indicating strong leadership presence[50] - The executive directors are Zeng Qinghong and Feng Xingya, responsible for strategic decisions[50] - The independent non-executive directors include Zhao Fuquan, Xiao Shengfang, Wang Keqin, and Song Tiebo, enhancing governance[50] - The company is committed to transparency in its financial reporting practices[50]