Group 1 - The core viewpoint of the article highlights that Great Wall Motors (601633) reported significant growth in both production and sales for September 2023, indicating a strong performance in the automotive market [1] Group 2 - In September 2023, Great Wall Motors achieved total sales of 133,639 units, representing a year-on-year increase of 23.29% [1] - The total production for the same month was 134,404 units, which reflects a year-on-year growth of 25.38% [1]

Core Insights - The establishment of the desert off-road base by Great Wall Motors marks a strategic move to deepen its commitment to the off-road vehicle sector, integrating training, events, research, and testing into a comprehensive ecosystem [2][3] - The base is designed to enhance the company's "technology-driven enterprise" strategy, facilitating the transformation of competitive racing experiences into practical vehicle performance improvements [2] - Great Wall Motors aims to popularize automotive sports in China and elevate automotive culture through this initiative, making off-road events more accessible to the public [3] Group 1: Strategic Development - The desert off-road base includes three core functions: off-road testing, rally car testing, and a training academy, reflecting Great Wall Motors' strategic focus on the off-road segment [2] - The company has maintained a 35-year commitment to independent research and development across various powertrains and environments, building a global technical solution framework [2] - The chairman emphasizes that real-world testing in extreme conditions is essential for validating vehicle performance, which the new base will support [2] Group 2: Cultural Impact - The base is a significant step towards making off-road motorsport more mainstream and enhancing automotive culture in China [3] - Great Wall Motors is actively participating in and co-creating events like the 2025环塔拉力赛 and 2025敦煌耐力赛, aiming to broaden the appeal of off-road racing [3] - The off-road academy will provide professional training to enthusiasts, lowering barriers to entry for participation in off-road events [3]

格隆汇10月2日丨长城汽车(02333.HK)发布2025年9月产销快报，本月销量总计为133,639台，同比增长 23.29%。此外，9月海外销售50,269台，1-9月累计销售334,181台。9月新能源车销售45,961台，1-9月累 计销售278,463台。 ...

长城汽车（601633）(02333)发布公告，于2025年9月，汽车销量合计约13.36万台，同比增长23.29%;产 量约13.44万台，同比增长25.38%。 1-9月，汽车销量合计约92.34万台，同比增长8.15%;产量合计约91.98万台，同比增长8.03%。 ...

格隆汇10月1日｜长城汽车：9月汽车销量133639辆，新能源汽车销量45961辆。 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 致：香港交易及結算所有限公司 公司名稱: 長城汽車股份有限公司 呈交日期: 2025年10月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02333 | | 說明 | 無 | | | | | | | | 多櫃檯證券代號 | 82333 | RMB | 說明 | 無 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | | 2,318,776,000 | RMB | | | 1 RMB | | 2,318,776,000 | | 增加 / 減少 (-) | | | | 0 | | | | RMB | | | | 本月底結存 | | | | 2,318,776,000 | RMB ...

长城汽车：9月汽车销量133639辆，新能源汽车销量45961辆。 ...

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 ： 02 33 3（ 港 幣 櫃 台 ） 及 823 33（ 人 民 幣 櫃 台 ） 自願公告 2025年9月產銷快報 9月海外銷售50,269台，1-9月累計銷售334,181台。 9月新能源車銷售45,961台，1-9月累計銷售278,463台。 務請注意，上述產銷量數字未經審核，亦未經本公司審計師確認，或會予以調整並有待最終確認。本公司刊發財務業績後，股東及潛在投資者務必詳閱。 本公告乃承本公司董事會之命而刊發 ...

Core Insights - The interview with Wei Jianjun, Chairman of Great Wall Motors, reveals the company's strategy to navigate the challenges in the Chinese automotive market, emphasizing a shift from chaotic competition to value-based competition [5][23]. Group 1: Market Context - In 2025, the Chinese automotive market is experiencing an 8% year-on-year increase in passenger car sales, but industry profit margins have dropped to 5.1%, the lowest in five years, due to issues like excessive marketing and homogenized competition [1][5]. Group 2: Company Strategy - Wei Jianjun advocates for a long-term approach to overcome market challenges, encapsulated in the principle of "integrity and conscientious manufacturing," which serves as a guiding star against industry volatility [6][8]. - The company has committed over 10 billion yuan in R&D for three consecutive years, with a projected R&D investment ratio of 5.2% in 2024, positioning it among the leaders in domestic automotive R&D [8][9]. Group 3: R&D and Innovation - Great Wall Motors has established a robust R&D framework, including advanced facilities like the environmental wind tunnel and Asia's largest independent safety testing lab, reflecting its commitment to high-quality vehicle development [9][10]. - The company has a team of 23,000 engineers and has applied for nearly 50,000 patents, with over 30,000 granted, of which more than 40% are in the field of new energy [8][12]. Group 4: Global Expansion - Great Wall Motors has established three full-process bases in Thailand and Brazil, along with KD factories in Ecuador, and has over 1,400 overseas service channels, achieving cumulative overseas sales of over 2 million vehicles [10][12]. - The company's global strategy focuses on comprehensive output of technology, industry, and services, with overseas sales projected to reach 454,100 units in 2024, marking a 44.61% year-on-year increase [12][21]. Group 5: Value Principles - The company adheres to the "Four Not to" principles, which include respecting capital, valuing users, maintaining ethical standards, and protecting the industry ecosystem, aiming to reject short-term profit temptations [15][16]. - These principles are operationalized through a "user value audit" mechanism, ensuring that new vehicles meet rigorous real-world testing standards before market release [15][16]. Group 6: Strategic Framework - The "Four Modernizations Strategy" includes equal emphasis on fuel and electric vehicles, diversification of new energy sources, and strategic globalization, which are not isolated but interconnected approaches to enhance competitiveness [16][18]. - The company aims to ensure that fuel and electric vehicles meet the same quality standards, which has led to growth in a declining fuel vehicle market [18][20]. Group 7: Future Outlook - Wei Jianjun expresses optimism for the future of the automotive industry in China, suggesting that with perseverance, the country could emerge as a leading automotive power in 20 years [23].

Core Insights - Longhua Automobile plans to launch a supercar by the end of next year, showcasing its ambition to enter new market segments despite challenges in the automotive industry [1][7] - The company emphasizes value creation, integrity, and customer satisfaction as its core principles, which guide its operations and strategic decisions [1][4] Investment and R&D - Longhua has invested over 3 billion yuan in a state-of-the-art wind tunnel testing facility, which can simulate various environmental conditions, making it one of the few in the country [2][3] - The company has consistently invested over 10 billion yuan annually in R&D for the past three years, totaling over 50 billion yuan, and has established 11 core technology testing labs [3][8] - Longhua has completed over 600 million kilometers of vehicle validation, demonstrating its commitment to safety and quality [3][4] Safety and Quality Assurance - The company adheres to a strict quality control process, emphasizing safety as a top priority, with significant investments in crash testing and safety validation [4][9] - Longhua's recent crash tests showcased the effectiveness of its safety features, with high costs associated with the testing process, reflecting its dedication to protecting drivers [4][9] Strategic Vision - Longhua's strategic approach includes a "Four No's" principle, focusing on long-term value rather than short-term gains, and maintaining integrity in its operations [8][12] - The company aims for a global presence, with local production and job creation in international markets, such as achieving a 50% localization rate in Thailand and creating 2,000 jobs in Brazil [10][11] Market Performance - In Q2, Longhua reported revenue of 52.316 billion yuan, a year-on-year increase of 7.72%, and a net profit of 4.586 billion yuan, reflecting a strong performance in a challenging market [9][10] - The company sold 312,000 vehicles in Q2, marking an 11.63% increase year-on-year, indicating robust demand and operational efficiency [9][10] Future Outlook - Longhua is preparing to launch its supercar after four to five years of development, supported by significant investments in technology and talent acquisition [7][8] - The company advocates for a balanced approach to energy sources, promoting a diverse range of vehicle technologies, including internal combustion, hybrid, and electric vehicles [11][12]