GAC GROUP(SH:601238) Guo Ji Jin Rong Bao·2025-08-15 14:59Group 1 - GAC Group's board approved a capital increase of 600 million yuan for Huawang Automobile, resulting in a direct ownership of 71.43% and an indirect ownership of 28.57% through GAC Aion [1] - Huawang Automobile has launched a city recruitment plan targeting 40 cities, with over 120 dealers participating, primarily from existing GAC dealers and partners [1] - The company plans to introduce two models, a sedan and an SUV, with both pure electric and range-extended powertrains, targeting the high-end market priced around 300,000 yuan [1] Group 2 - The collaboration between GAC Group and Huawei began in July 2021, focusing on a joint development model that combines GAC's manufacturing and Huawei's intelligence [2] - The project aims to create a new generation of smart vehicles based on GAC's GEP3.0 platform and Huawei's CCA, utilizing a co-creation approach [2] Group 3 - The Huawang Automobile project has seen a total investment of 788 million yuan, initially set for mass production by the end of 2023, but has faced delays [4] - GAC Aion's annual compound growth rate exceeded 120% from 2017 to 2021, with 2022 sales reaching 271,000 units, and 2023 sales projected at 480,000 units, making it the second in the new energy sector after BYD and Tesla [4] - GAC Aion has set a target of at least 700,000 units for 2024, but is facing challenges with a projected decline in sales to 374,900 units, a year-on-year decrease of 21.9% [4] Group 4 - GAC Aion's monthly sales have dropped from over 50,000 units at peak to around 25,000 units, with several months showing a year-on-year decline exceeding 20% [5] - In July 2025, GAC Aion's sales were reported at 26,557 units, reflecting a year-on-year decrease of 24.6% [5]