Core Viewpoint - Great Wall Motors (601633.SH) reported a total sales volume of 115,600 units in August 2025, representing a year-on-year increase of 22.33% [1] - Cumulative sales for the year reached 789,700 units, showing a year-on-year growth of 5.94% [1] - In August, overseas sales amounted to 45,166 units, while sales of new energy vehicles reached 37,495 units [1] Summary by Category - **Sales Performance** - Total sales in August 2025 were 115,600 units, up 22.33% year-on-year [1] - Year-to-date cumulative sales reached 789,700 units, reflecting a 5.94% increase compared to the previous year [1] - **Market Segmentation** - Overseas sales in August totaled 45,166 units [1] - Sales of new energy vehicles in August were 37,495 units [1]

长城汽车(601633.SH)发布公告，公司2025年8月总计销量11.56万台，同比增长22.33%;本年累计销量 78.97万台，同比增长5.94%。8月海外销售45166台，8月新能源车销售37495台。 ...

Core Points - The announcement details the conversion of convertible bonds and the results of the 2023 stock option incentive plan by Great Wall Motor Co., Ltd. [1][4] Convertible Bonds Conversion - From August 1 to August 31, 2025, a total of 1,000 yuan of "Changqi Convertible Bonds" was converted into 25 shares of the company's stock. [1] - Cumulatively, from December 17, 2021, to August 31, 2025, 4,900,000 yuan of "Changqi Convertible Bonds" has been converted into 128,529 shares, representing 0.0014% of the company's total issued shares before conversion. [1][5] - As of August 31, 2025, the amount of convertible bonds that have not been converted is 3,495,099,000 yuan, accounting for 99.86% of the total issued convertible bonds. [6] Convertible Bonds Issuance Overview - The company issued 35 billion yuan worth of convertible bonds on June 10, 2021, with a face value of 100 yuan per bond, approved by the China Securities Regulatory Commission. [2] - The initial conversion price was set at 38.39 yuan per share, which has been adjusted to 39.16 yuan per share due to various corporate actions. [2][5] 2023 Stock Option Incentive Plan - The first exercise period for the 2023 stock option incentive plan allows for the exercise of 18,948,783 shares, with a self-exercise method from May 12, 2025, to January 25, 2026. [4] - As of August 31, 2025, no shares have been exercised from this plan, representing 0% of the total available options for the first exercise period. [4][12] Stock Option Exercise and Fundraising - Through the self-exercise method, a total of 30 shares have been registered and 807.60 yuan has been raised, which will be used to supplement working capital. [12] - The stock options exercised will be listed for trading on the second trading day after the exercise date. [12] Changes in Share Capital - The total number of shares before the changes was 8,558,946,263, and after the conversion of convertible bonds and stock options, it increased to 8,558,946,288 shares. [13] - The distribution of shares remains compliant with listing conditions after the changes. [13]

Investment Rating - The report maintains a "Strong Buy" rating for the company, with a target price of 33.7 CNY for A-shares and 27.6 HKD for H-shares [2][8]. Core Views - The company's 2Q performance met expectations, with a revenue of 523 billion CNY, reflecting a year-on-year increase of 1% and a quarter-on-quarter increase of 31%. The wholesale vehicle sales reached 313,000 units, marking a 10% increase year-on-year and 22% quarter-on-quarter [2][8]. - The report highlights the strong performance of new vehicle models, particularly in the WEY and Tank brands, which are expected to drive sales growth in the upcoming quarters [8]. - The company has shown resilience in maintaining performance amid a prolonged price war in the automotive sector, with adjusted net profit forecasts for 2025-2027 reflecting growth rates of 14%, 15%, and 11% respectively [8]. Financial Summary - For the first half of 2025, the company reported total revenue of 923 billion CNY, a year-on-year increase of 1%, and a net profit attributable to shareholders of 6.337 billion CNY, a decrease of 10% year-on-year. The non-recurring net profit was 3.58 billion CNY, down 37% year-on-year [2][4]. - Key financial metrics for 2025E include total revenue of 220,753 million CNY, net profit of 14,413 million CNY, and earnings per share of 1.68 CNY [4][9]. - The company’s gross margin for 2Q25 was reported at 18.8%, with a net profit margin of 8.8%, indicating a strong operational efficiency despite fluctuations in sales mix [8].

格隆汇9月1日丨长城汽车(601633.SH)公布8月产销快报，销量总计115558台，同比增长22.33%。8月海 外销售45,166台，1-8月累计销售283,912台。8月新能源车销售37,495台，1-8月累计销售232,502台。 ...

Core Viewpoint - Great Wall Motors announced its production and sales figures for August 2025, showing a mixed performance across different brands with overall sales increasing year-on-year. Group 1: Sales Performance - The total sales volume for August 2025 reached 115,558 units, representing a year-on-year increase of 22.33% compared to 94,461 units in August 2024 [3] - Cumulative sales for the year reached 789,719 units, up 5.94% from 745,415 units in the same period last year [3] Group 2: Brand-Specific Performance - Haval brand sold 68,912 units in August 2025, a 22.69% increase from 56,166 units in August 2024, with cumulative sales of 446,560 units, up 9.22% [3] - WEY brand experienced significant growth, with sales of 8,028 units in August 2025, a 167.51% increase from 3,001 units last year, and cumulative sales of 52,567 units, up 105.08% [3] - The sales of Great Wall Pickup decreased slightly by 2.89% to 13,322 units in August 2025, while cumulative sales increased by 4.81% to 123,322 units [3] - Ora brand saw a minor increase of 1.40% in August sales to 5,223 units, but cumulative sales dropped significantly by 43.78% to 23,431 units [3] - Tank brand sales increased by 22.46% to 20,022 units in August 2025, with cumulative sales slightly down by 4.88% to 143,702 units [3] - Other brands reported a significant decline in sales, with a 32.00% decrease in August sales to 51 units and a 73.75% drop in cumulative sales to 137 units [3]

证券代码：601633 证券简称：长城汽车 公告编号：2025-112 转债代码：113049 转债简称：长汽转债 长城汽车股份有限公司 2025 年 8 月产销快报 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。 本公告乃由长城汽车股份有限公司（「本公司」）自愿刊发。 | 车型 | | | 销量 | | | 产量 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 月度同比 | | | 年度同比 | | 月度同比 | | | | 年度同比 | | | | | 本月 | 去年同期 | 增减(%) | 本年累计 | 去年同期 | 增减(%) | 本月 | 去年同期 | 增减(%) | 本年累计 | 去年同期 | 增减(%) | | 哈弗品牌 | 68,912 | 56,166 | 22.69 | 446,560 | 408,848 | 9.22 | 64,729 | 57,604 | 12 ...

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 截至月份: 2025年8月31日 狀態: 新提交 第 1 頁 共 10 頁 v 1.1.1 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9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 | | | | ...

长城汽车（601633）(02333)发布公告，于2025年8月，汽车销量合计约11.56万台，同比增长22.33%;产 量约11.32万台，同比增长15.64%。 1-8月，汽车销量合计约78.97万台，同比增长5.94%;产量合计约78.54万台，同比增长5.53%。 ...

Core Insights - Great Wall Motors (长城汽车) reported a total vehicle sales of approximately 115,600 units in August 2025, representing a year-on-year increase of 22.33% [1] - The production for the same period reached approximately 113,200 units, showing a year-on-year growth of 15.64% [1] - For the period from January to August, total vehicle sales amounted to approximately 789,700 units, reflecting a year-on-year increase of 5.94% [1] - The production during the same January to August period totaled approximately 785,400 units, with a year-on-year growth of 5.53% [1]