格隆汇9月22日丨长城汽车(02333.HK)然宣布，联交所已确认公司现任联席公司秘书李红栓符合上市规 则第3.28条下担任公司公司秘书的资格。因此，吴嘉雯已辞任联席公司秘书一职，自2025年9月22日起 生效。吴嘉雯辞任后，李红栓将继续担任公司的唯一公司秘书。 ...

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：02333（港幣櫃檯）及82333（人民幣櫃檯） 聯席公司秘書辭任及公司秘書資格更新 茲提述長城汽車股份有限公司（「本公司」）日期為二零二二年九月二十三日的公 告，內容有關（其中包括）委任李紅栓女士（「李女士」）及吳嘉雯女士（「吳女士」） 為本公司聯席公司秘書（「聯席公司秘書」），及香港聯合交易所有限公司（「聯交 所」）向本公司授出的須嚴格遵守聯交所證券上市規則（「上市規則」）第3.28及第 8.17條規定的豁免（「該豁免」），其豁免期至二零二五年九月二十二日。 本公司董事會（「董事會」）欣然宣佈，聯交所已確認本公司現任聯席公司秘書李女 士符合上市規則第3.28條下擔任本公司公司秘書的資格。因此，吳女士已辭任聯 席公司秘書一職，自二零二五年九月二十二日起生效。吳 ...

Core Perspective - Great Wall Motors is integrating the spirit of Dunhuang culture into its brand identity, emphasizing a journey of cultural heritage and modern automotive innovation [1][3][9] Group 1: Cultural Resonance - Dunhuang, as the western terminus of the Great Wall, symbolizes over two millennia of cultural exchange and defense, resonating with Great Wall Motors' brand ethos of exploration and resilience [3] - The company's mission is driven by its name, which reflects both honor and responsibility, pushing it to innovate in core automotive technologies and achieve self-sufficiency in key components [3][8] Group 2: Aesthetic Revival - The "Dunhuang Green" color of the Tank 500 is inspired by the art of Mogao Caves, merging traditional aesthetics with modern automotive design [5][6] - This initiative not only revives ancient beauty but also pays tribute to cultural preservation efforts, as the company donated vehicles to local conservation workers [6] Group 3: Corporate Responsibility - The essence of Dunhuang's "ten-thousand-mile spirit" encompasses exploration, confidence, perseverance, transmission, and symbiosis, which Great Wall Motors aims to embody [8] - The company is committed to technological breakthroughs and a comprehensive self-reliant industrial layout, transitioning from being an automotive powerhouse to a strong global player [8] - Great Wall Motors emphasizes long-term commitment to quality and integrity, rejecting opportunism in the face of industry changes [8][9]

Core Insights - The article highlights how traditional manufacturing, exemplified by Great Wall Motors, is seeking transformation through the integration of cultural elements, specifically from Dunhuang culture [2][3] - Great Wall Motors has launched innovative products inspired by Dunhuang culture, such as the "Dunhuang Green" color for the Tank 500 model, which has achieved significant market acceptance [2][3] Group 1: Cultural Integration in Manufacturing - Great Wall Motors is leveraging Dunhuang cultural elements as a key strategy for differentiation in a competitive market [3] - The company aims to provide products with cultural value, reflecting a shift from price competition to cultural and emotional resonance with consumers [3][4] Group 2: Global Market Strategy - Great Wall Motors is adopting a "cultural integration" approach in its global market expansion, focusing on deep local engagement rather than mere market penetration [4] - The company is actively establishing a comprehensive local presence in over 170 regions and countries, including Europe, the Middle East, and Africa, to meet local market demands [4] Group 3: Commitment to Quality and Reliability - The company emphasizes the importance of product reliability and durability, particularly in the off-road vehicle sector, as a priority for user safety [5] - Great Wall Motors acknowledges the need for improvement in product reliability to compete with world-renowned brands [5] Group 4: Industry Challenges and Opportunities - The automotive industry is facing intense competition, leading to concerns about "involution" and declining product quality due to cutthroat pricing strategies [5] - The integration of cultural elements into product development is seen as a potential pathway for the industry to escape low-level price competition and establish brand differentiation [5]

Core Viewpoint - Great Wall Motors has introduced the "Wanli Spirit," which emphasizes "exploration, perseverance, confidence, and inheritance," linking the company's 35-year development with the cultural heritage of Dunhuang, aiming to promote Chinese culture globally through the automotive industry [1][3][21] Group 1: Exploration - The "Wanli Spirit" embodies the essence of exploration, reflecting the historical significance of Dunhuang as a cultural hub along the Silk Road, and aligns with Great Wall Motors' commitment to technological and market breakthroughs [3][4] - Great Wall Motors has made significant advancements in energy and intelligence, such as the launch of the 4.0TV8 engine, which breaks foreign brands' monopolies in the high-end V8 engine market, and the Hi4 technology system that integrates core technologies for hybrid vehicles [8] - The company has successfully penetrated various markets with models like the Tank 300 and Tank 500 Hi4-T, leading the off-road segment, and the Haval H6, which has maintained over 100 months as the best-selling SUV in China [8][9] Group 2: Perseverance - The spirit of perseverance is reflected in Great Wall Motors' commitment to quality and long-termism, avoiding short-term profit pressures and focusing on maintaining a high-quality market share [10][13] - The company has invested nearly 10 billion in testing facilities to ensure product performance, including the establishment of advanced testing labs and a high-standard quality management system [13][15] - Great Wall Motors has consistently upheld its commitment to high-quality manufacturing, whether in the era of fuel vehicles or during the transition to new energy vehicles [15] Group 3: Confidence and Inheritance - Great Wall Motors aims to combine Chinese automotive technology with Dunhuang culture to reach global markets, establishing a comprehensive system for local research, development, production, and calibration in overseas markets [16][21] - The company's "ecological export" model emphasizes adapting products to local needs while incorporating Eastern design aesthetics, similar to Dunhuang's historical role as a cultural melting pot [16][21] - The initiative to promote Chinese culture through automotive design and branding activities reflects the company's commitment to cultural output, allowing global audiences to appreciate Chinese craftsmanship and cultural depth [21]

Core Viewpoint - Great Wall Motors' stock price has experienced a decline of 4.02% year-to-date, with a recent drop of 3.01% over the last five trading days, despite a notable increase of 18.97% over the past 60 days [2] Financial Performance - For the first half of 2025, Great Wall Motors achieved a revenue of 92.335 billion yuan, reflecting a year-on-year growth of 0.99%. However, the net profit attributable to shareholders decreased by 10.48% to 6.337 billion yuan [2] - Cumulatively, since its A-share listing, Great Wall Motors has distributed a total of 34.696 billion yuan in dividends, with 8.95 billion yuan distributed over the last three years [3] Stock Market Activity - On September 18, Great Wall Motors' stock price fell by 2.01%, trading at 24.84 yuan per share, with a total transaction volume of 417 million yuan and a turnover rate of 0.27%. The company's total market capitalization stands at 212.578 billion yuan [1] - The net outflow of main funds amounted to 29.3879 million yuan, with large orders showing a buy of 67.6615 million yuan and a sell of 91.1915 million yuan [1] Shareholder Structure - As of June 30, 2025, Great Wall Motors had 178,500 shareholders, an increase of 18.73% from the previous period. The average circulating shares per person remained at 0 [2] - The top three circulating shareholders include China Securities Finance Corporation with 197 million shares, Hong Kong Central Clearing Limited with 85.5192 million shares (a decrease of 1.9369 million shares), and E Fund Consumption Industry Stock with 51.0764 million shares [3]

Core Viewpoint - The establishment of Great Wall Motors' factory in Brazil marks a significant step in the company's "ecological going global" strategy, emphasizing deep localization and integration into local markets rather than merely exporting vehicles [2][3][4]. Group 1: Factory Establishment and Strategic Importance - Great Wall Motors' factory in Brazil has officially commenced production, with an annual capacity of 50,000 vehicles, serving as a strategic hub for the Latin American market [2]. - The factory represents a shift from previous export-oriented strategies to a more complex and challenging approach focused on local integration and cultural adaptation [2][4]. Group 2: Ecological Going Global Strategy - The "ecological going global" strategy involves a comprehensive approach that includes R&D, production, supply chain, distribution, and service, aiming to create a complete value chain [4][5]. - This strategy seeks to address cultural and consumer behavior differences in various markets, moving beyond simple trade to establish brand recognition and local relevance [4][5]. Group 3: Market Opportunities and Challenges - The global automotive market is characterized by mature markets (North America, Europe, Japan, South Korea) that are difficult to penetrate, leading Great Wall Motors to focus on emerging markets like Latin America, the Middle East, and Southeast Asia [7][8]. - In Brazil, the automotive market presents a strong demand due to insufficient public transportation, making it a critical area for growth despite potential challenges such as policy uncertainty and infrastructure issues [8]. Group 4: Long-term Strategy and Development Philosophy - Great Wall Motors emphasizes a long-term approach to development, prioritizing trust and sustained relationships with customers over short-term gains [13][14]. - The company aims to balance domestic and international sales, targeting a near 1:1 ratio in the next three years, reflecting a commitment to both markets [14]. Group 5: Technological Adaptation and Product Strategy - The company adopts a multi-powertrain strategy, allowing for flexibility in different markets based on local energy policies and infrastructure [10][12]. - This modular approach to technology enables Great Wall Motors to quickly adapt to varying market demands and regulatory environments, positioning itself for long-term success [12].

| | 皇公司 都在用的商业查询工具 | 直老板 商关系 音风险 | | | | | --- | --- | --- | --- | --- | --- | | | 家中小企业发展子其余旗下机构 | 魏智选(上海)汽车销售服务有限公司 | × 天眼一下 | 平 应用 ▼ | 商务合作 1 | | 基本信息 4 | 法律诉讼 | 经营风险 | 经营信息 | 公司发展 | 知议 | | 工商信息 ● | | | | | | | 工商信息 历史工商信息0 | | | | | | | 企业名称 | 魏智选（上海）汽车销售服务有限公司 | | | | | | 法定代表人 | 遭健 谱 | 登记状态 ② | 存续 | | 天眼评分 2 | | | | 成立日期 | 2025-09-11 | | | | 统一社会信用代码 2 | 91310114MAEUEFWY9C | 注册资本 ② | 500万人民币 | | 实缴资本 | | 工商注册号 | 310114006318733 | 纳税人识别号 ② | 91310114MAEUEFWY9C | | 组织机构代码 2 | | 营业期限 | 2025-09-11 至 无固定期限 ...

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]

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]