


Core Viewpoint - Great Wall Motors (02333) shares rose over 5%, currently up 5.15% at HKD 17.77, with a trading volume of HKD 410 million [1] Group 1: Product Launches - On August 19, Great Wall Motors launched the 2026 model of Haval Menglong PHEV, priced between RMB 173,800 and RMB 208,800, with a limited-time trade-in price of RMB 153,800 to RMB 188,800 [1] - The official announcement revealed that within 24 hours of the launch, orders for the Haval Menglong 2026 exceeded 21,856 units [1] - On August 11, the new Tank 500 Intelligent Version began pre-sales, with two versions priced at RMB 388,800 and RMB 360,000, respectively; within 24 hours, orders surpassed 11,000 units, and the first weekend saw daily orders exceed 1,932 units [1] Group 2: Market Analysis - Shenwan Hongyuan noted that the fundamental logic for Great Wall Motors has remained unchanged since Q2, focusing on the volume growth of its high-profit brands, Wei and Tank [1] - Following the upgrades of the Blue Mountain and the launch of the High Mountain 7, monthly sales for the Wei brand are expected to reach 20,000 units, with further increases in sales ceilings anticipated as new platform models are introduced [1] - The pre-sale performance of the Tank 500 has been impressive, and the company's current Hong Kong stock PE is relatively low, indicating high cost-effectiveness and sustained recommendation value in the short to medium term [1]