Group 1: Conference Overview - The 2025 Intelligent Automotive Basic Software Ecosystem Conference and the Fourth China Automotive Chip Conference were held in Chongqing, focusing on open-source collaboration and sustainable ecosystem development [1] - The event gathered over 500 experts, scholars, and industry representatives from various sectors, promoting deep integration between the automotive industry and chip technology [1] Group 2: Open Source Model - The open-source model is seen as an innovative path for creating value in the automotive industry, reducing redundant investments and fostering collaboration among various stakeholders [3][4] - The open-source automotive operating system aims to connect chips, service providers, testing, production, and talent, forming a sustainable and mutually beneficial ecosystem [3] Group 3: Industry Challenges and Opportunities - The automotive industry is undergoing a transformation characterized by electrification, intelligence, and connectivity, facing challenges such as insufficient ecosystem collaboration and the need for core technology breakthroughs [4][10] - Open-source initiatives can accelerate technological iteration and promote collaboration across the industry, enhancing competitiveness and reducing development costs [10][11] Group 4: Launch of Open Source Initiatives - The "Starry Sky Plan" was launched to build a new ecosystem for the intelligent automotive industry, focusing on collaboration among various stakeholders [6] - The plan aims to create a network for efficient resource flow and talent cultivation, establishing a robust foundation for the development of open-source automotive software [6][7] Group 5: Future Directions - The automotive industry is shifting towards digitalization and globalization, with a focus on collaboration between automotive and ICT companies to drive innovation [7][9] - The complexity of automotive software systems necessitates a collaborative approach to overcome challenges and redefine industry boundaries through open-source initiatives [8][12]

Investment Rating - The report maintains a "Recommended" investment rating for the automotive industry [6] Core Insights - The automotive market is experiencing a hot demand driven by brand strength, with significant orders for new models from leading brands [2][3] - The penetration rate of L2 and above intelligent driving features in new energy vehicles reached 82.6% in the first half of 2025, indicating a strong trend towards AI integration in the automotive sector [3][40] - The report highlights the importance of leading car manufacturers enhancing their competitive edge in differentiated markets and the future opportunities arising from the integration of smart vehicles and AI [4] Summary by Sections 1. Weekly Market Review (2025.08.23-08.29) - The automotive sector index rose by 0.35% during the week, underperforming the Shanghai Composite Index which increased by 2.71% [12] - The retail sales of passenger vehicles from August 1-24 reached 1.285 million units, a year-on-year increase of 3% [20] - The wholesale volume for passenger vehicles during the same period was 1.341 million units, reflecting a 12% year-on-year growth [20] 2. Weekly Data Tracking (2025.08.23-08.29) - New energy vehicle retail sales reached 727,000 units from August 1-24, with a penetration rate of 56.6% [20] - Cumulative retail sales of new energy vehicles for the year reached 7.182 million units, a 27% increase year-on-year [20] 3. Industry News (2025.08.23-08.29) - Geely's new SUV, the Galaxy M9, received over 40,000 pre-orders within 24 hours of its announcement [33] - Huawei's collaboration with SAIC on the HarmonyOS vehicle, the Shangjie H5, saw over 25,000 initial orders within the first hour of pre-sale [36] - The report notes the establishment of the SAIC Audi manufacturing base, which will produce 360,000 vehicles annually [38]

Core Insights - The era of "intelligent driving equality" is accelerating, with a focus on core industry foundations such as operating systems and chips entering a critical phase [1] - The development of intelligent connected vehicles in China faces challenges, including the need for breakthroughs in core technologies and the establishment of a complete data system [2][3] - The consensus in the industry is shifting towards open-source solutions for vehicle software systems, although there are risks of ecological fragmentation [2][6] Industry Developments - The 2025 Intelligent Vehicle Basic Software Ecological Conference and the Fourth China Automotive Chip Conference were held in Chongqing, highlighting the importance of integrated development of software and hardware [1] - As of 2025, Changan Automobile plans to stop developing non-intelligent new products and aims to launch 35 smart vehicles in the next three years, with full scene L3 autonomous driving by 2026 and L4 by 2028 [3] - The open-source movement is gaining traction, with companies like Li Auto and Dongfeng Motor launching their own open-source operating systems [6] Challenges and Recommendations - Current issues in the intelligent connected vehicle sector include insufficient safety reliability, incomplete data systems, and a lack of a profitable business model [2][3] - Experts suggest that leading companies should adopt a long-term perspective, integrate vehicle-grade chips and basic software, and promote the establishment of technical standards [3][7] - The focus should be on creating a unified operating system baseline and developing a collaborative ecosystem to avoid fragmentation [7]

Group 1 - The U.S. has increased tariffs on Indian goods to 50%, prompting India's Minister of Commerce and Industry, Piyush Goyal, to assert that India will not "yield" but will focus on exploring new markets. He mentioned that the Indian government will introduce several measures to support various industries and boost exports, projecting that this year's export figures will exceed those of 2024-2025 [2] - The 7th China-Arab States Expo, held from August 28 to August 31 in Yinchuan, Ningxia, featured a new artificial intelligence exhibition area, showcasing humanoid robots, big data computing centers, and AI application ecosystems [2] - The domestic open-source vehicle operating system in China has begun to establish its own industrial ecosystem, collaborating with over 10 automotive manufacturers and nearly 30 chip companies to promote self-controllable core technologies in intelligent connected vehicles [2] Group 2 - South Africa successfully performed its first robot-assisted donor kidney removal surgery, involving a mother donating a kidney to her daughter. The procedure was completed in under 90 minutes, utilizing a robotic platform that minimized incision size, reduced postoperative pain, and accelerated recovery [2]

Group 1 - The 2025 Shanghai Cooperation Organization Summit will be held from August 31 to September 1 in Tianjin, with President Xi Jinping presiding over the meeting and delivering a keynote speech [2] - The Chinese Ministry of Education issued a warning regarding the deteriorating security situation for Chinese citizens in the Philippines, advising caution for those planning to study there [3] - The Chinese automotive industry is developing a domestic open-source vehicle operating system, which aims to enhance self-sufficiency in core technologies and reduce R&D costs [3] - Reports indicate that China's electricity consumption accounted for 30% of total energy consumption, significantly higher than the global average, and is expected to rise to over 40% by 2035 [3] - The global nano patent count exceeded 1.078 million since 2000, with China holding 464,000 patents, representing 43% of the total, and the global nano market is projected to reach $1.5 trillion by 2025 [3] - The Shanghai cruise port has seen over 1.377 million inbound and outbound travelers this year, a 48.71% increase compared to the previous year [3] - The CSI 300 ETF has experienced significant growth, with total assets increasing by nearly 400 billion yuan over the past year, making it a focal point in the broad-based ETF market [3] - Ningxia Huanghe Rural Commercial Bank has acquired a 46.78% stake in Ningxia Tongxin Rural Commercial Bank, increasing its ownership from 21.62% [3] Group 2 - The U.S. Federal Circuit Court ruled that President Trump lacked the authority to impose tariffs on multiple countries, with Trump stating he would appeal to the Supreme Court [5] - The Turkish government is phasing out its unconventional foreign exchange protection deposit mechanism, signaling a shift towards more market-oriented macroeconomic policies [5]

谢少锋感谢苏州对工业和信息化工作的有力支持。他表示，苏州制造业基础雄厚，产业创新活力十 足，在推进新型工业化中成效明显。工业和信息化部将深入学习贯彻习近平总书记重要讲话精神，加强 与苏州交流合作，紧密结合地方发展所需，充分发挥资源优势，推进相关项目建设，集聚更多专业人 才，推动科技创新和产业创新深度融合，支持苏州做大做强主导产业、加快培育新兴产业，更好服务高 质量发展。 工业和信息化部电子五所所长杨建军，工业和信息化部信息技术发展司副司长王威伟；副市长毛 伟，苏州高新区主要负责同志参加活动。 8月28日，工业和信息化部电子五所华东总部项目签约落户苏州。省委副书记、苏州市委书记刘小 涛出席签约仪式，并与工业和信息化部总工程师谢少锋一行举行工作会谈。 工业和信息化部电子五所是中国最早从事可靠性与环境适应性研究的权威机构，2005年在苏州设立 华东分所，并已发展成为华东区域功能齐全的质量可靠性公共服务平台。此次签约的电子五所华东总部 项目总投资13.8亿元，将落户苏州高新区，围绕人工智能、低空经济、智能网联汽车、集成电路等产业 方向，建立中试验证、可靠性提升和质量保障等专业化技术服务能力，为产业产品提供全链条和全生 ...

Core Viewpoint - The development of a domestic open-source automotive operating system is crucial for the advancement of the intelligent connected vehicle industry in China, aiming to create a collaborative ecosystem and reduce redundant investments [1][2]. Group 1: Industry Development - The Chinese automotive industry is rapidly advancing in the development of automotive operating systems, but there is a tendency for companies to operate independently, leading to duplicated investments [1]. - Major automotive companies have invested over 1 billion yuan in self-developed operating systems, while smaller enterprises face challenges due to technological barriers [1]. - The establishment of an open-source automotive operating system is recognized as a consensus for the development of the intelligent connected vehicle industry [1]. Group 2: Collaborative Ecosystem - The open-source initiative is seen as a key measure for the Chinese intelligent automotive industry to transition from isolated breakthroughs to systematic collaboration [1]. - A domestic open-source automotive operating system has been developed in collaboration with over 10 major automotive manufacturers, including Chang'an and FAW, as well as nearly 30 domestic and international chip companies [1]. - The "Xiaoman" ecosystem has attracted 175 educational institutions and over 400 enterprises, aiming to leverage this ecosystem to serve the automotive industry and achieve cost reduction and efficiency improvement in automotive software [1][2].

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分內容而產生或因依賴該等內容而 引致的任何損失承擔任何責任。 GUANGZHOU AUTOMOBILE GROUP CO., LTD. 廣州汽車集團股份有限公司 ( 於中華人民共和國註冊成立的股份有限公司 ) (股份編號: 2238) 海外監管公告 本公告乃廣州汽車集團股份有限公司（「本公司」）按香港聯合交易所有限公司證券上市規 則第 13.10B 條發出。 以下文件乃本公司於二零二五年八月二十九日在中華人民共和國上海證券交易所網頁登載， 僅供參閱。 承董事會命 廣州汽車集團股份有限公司 馮興亞 董事長 中國廣州，二零二五年八月二十九日 於本公告日期，本公司的執行董事為馮興亞，本公司的非執行董事為陳小沐、鄧蕾、周開荃、 王亦偉及洪素麗，以及本公司的獨立非執行董事為趙福全、肖勝方、王克勤及宋鐵波。 1. 《廣州汽車集團股份有限公司 2025 年半年度報告摘要》 2. 《廣州汽車集團股份有限公司 2025 年半年度報告》 广州汽车集团股份有限公司 2025 年半年度报 ...

Group 1: Financial Performance - The company achieved a revenue of 27,540.72 million yuan in the first half of 2025, representing a year-on-year growth of 26.88% [3] - The net profit attributable to shareholders was 4,291.52 million yuan [3] - The gross margin increased from 34.88% to 38.99%, a rise of 4.11 percentage points compared to the same period last year [3] Group 2: Business Segments - The smart cockpit business accounted for 46% of total revenue, showing steady growth [3] - The intelligent connected vehicle testing business generated 9,400 million yuan, a significant increase of 70.77% year-on-year, primarily driven by overseas client demand [3][5] - The intelligent driving software development business saw a 9% increase compared to the previous year [3] Group 3: Strategic Initiatives - The company is focusing on "high-quality development" and "internationalization" as part of its market strategy, with "AI+" at its core [3] - The SDW (Software Dreamworks) platform was showcased at the 2025 Shanghai Auto Show, enhancing efficiency across the software development lifecycle [9] - The acquisition of Kaima Technology is expected to enhance overall profitability, with profit commitments of 3,800 million yuan in 2025, 4,500 million yuan in 2026, and 5,200 million yuan in 2027 [11] Group 4: Market Trends and Future Outlook - The intelligent connected vehicle testing is becoming essential in automotive manufacturing, driven by policy support and consumer safety concerns [5][6] - The company is leveraging AI technology to innovate in various areas, including domestic chip replacement solutions and AI cockpit interaction scenarios [12] - The industry is expected to see generative AI as a new productivity driver, with AI cockpit and intelligent driving becoming key competitive differentiators [12]

Core Viewpoint - The company has experienced over 20% revenue growth this year, driven by the transition from voluntary to mandatory compliance testing in the intelligent connected vehicle sector, accelerated transformation in the automotive industry towards intelligence and electrification, and significant customer expansion efforts [1][2]. Business Drivers and Performance - The company reported a revenue of approximately 71.34 million yuan and a net profit of 15.27 million yuan for the first four months of 2025, with a return on equity of 15.08% [2]. - The second phase project has generated around 26 million yuan in revenue in the first half of the year, achieving near breakeven [2]. Industry Trends and Company Positioning - The company is prepared for the upcoming mandatory standards for L3 and L4 autonomous driving, having established a testing environment at its intelligent connected vehicle testing site in the Yangtze River Delta [3]. - The company is involved in the formulation of various international and national automotive standards and has extended its business boundaries through the acquisition of the China Automotive Research and Testing Center [3]. Capacity and Overseas Expansion - The company is optimizing its first-phase testing facility's capacity utilization and is in the ramp-up phase for the second phase [4]. - The company is exploring the feasibility of overseas expansion as part of its 14th Five-Year Plan [5]. Emerging Fields and Accounts Receivable Management - The company is developing testing technologies for flying cars and has established a road testing scenario and flight supervision platform, although this area currently has a minimal impact on revenue [6]. - The company's accounts receivable management is healthy, with low collection risks, and it is working on optimizing management to improve collection efficiency [6].