Group 1: Market Overview - From August 1 to 17, the retail sales of new energy vehicles in the national passenger car market reached 502,000 units, representing a year-on-year increase of 9% and a month-on-month increase of 12% [1] - The retail penetration rate for new energy vehicles in the national passenger car market is 58.0%, with cumulative retail sales of 6.958 million units this year, up 28% year-on-year [1] - The wholesale of new energy vehicles by manufacturers reached 474,000 units from August 1 to 17, marking an 18% year-on-year increase and a 10% month-on-month increase [1] Group 2: Passenger Car Sales - The total retail sales of passenger cars from August 1 to 17 amounted to 866,000 units, showing a 2% year-on-year increase and an 8% month-on-month increase [4] - Cumulative retail sales for the year reached 13.611 million units, reflecting a 10% year-on-year growth [4] - The wholesale of passenger cars by manufacturers was 841,000 units during the same period, with a year-on-year increase of 20% and a month-on-month increase of 7% [7] Group 3: Economic and Policy Context - The economic growth rate in China for the first half of the year was 5.3%, which has alleviated the pressure for stable growth in various regions [4] - Recent promotional policies in the automotive market have been steadily advancing, with the third batch of subsidy funds distributed in late July [4] - The "trade-in" policy has been gradually restarted, and the subsidy methods have become more diversified, which is expected to improve sales growth in August [4]

1. Report Industry Investment Rating - No relevant content 2. Core Viewpoints of the Report - Natural rubber prices may fluctuate due to the typhoon affecting the rubber tapping process in some producing areas, while synthetic rubber prices may also fluctuate as the upstream raw material price support is insufficient but the automobile production and sales data is stronger than expected. Attention should be paid to the support and pressure levels of natural rubber and butadiene rubber [2]. 3. Summary by Relevant Catalogs Natural Rubber Futures Active Contract - On August 15, 2025, the closing price was 15,905, the trading volume was 404,764 lots, the open interest was 186,459 lots, and the registered warrant volume was 179,930. Compared with the previous day, the closing price increased by 270, the trading volume increased by 22,582 lots, the open interest increased by 4,607 lots, and the registered warrant volume increased by 860 [2]. - The natural rubber basis was -1,180, a decrease of 395 compared with the previous day. The Tianjin - Shanghai standard rubber SCRWF daily spread was -175, a decrease of 25 compared with the previous day; the Shandong - Shanghai standard rubber SCRWF daily spread was -175, unchanged from the previous day; the Yunnan - Shanghai standard rubber SCRWF daily spread was 75, an increase of 50 compared with the previous day [2]. - The natural rubber near - month to continuous - first spread was -145, a decrease of 360 compared with the previous day; the continuous - first to continuous - second spread was -15, an increase of 15 compared with the previous day; the continuous - first to continuous - third spread was -40, a decrease of 35 compared with the previous day [2]. Synthetic Rubber Futures Active Contract - On August 15, 2025, the closing price was 11,815, the trading volume was 63,265 lots, the open interest was 20,356 lots, and the registered warrant volume was 10,470. Compared with the previous day, the closing price increased by 170, the trading volume decreased by 4,888 lots, the open interest decreased by 3,317 lots, and the registered warrant volume remained unchanged [2]. - The synthetic rubber basis was -248.33, a decrease of 170 compared with the previous day. The North China - East China butadiene rubber spread was 0, unchanged from the previous day; the South China - East China butadiene rubber spread was -50, unchanged from the previous day [2]. - The synthetic rubber near - month to continuous - first spread was 65, a decrease of 190 compared with the previous day; the continuous - first to continuous - second spread was -5, a decrease of 5 compared with the previous day; the continuous - first to continuous - third spread was 5, an increase of 5 compared with the previous day [2]. Supply Side - In the coming days, there will be precipitation in major producing areas such as Thailand, Vietnam, and Indonesia. In domestic producing areas, affected by the typhoon, there will be heavy precipitation in Hainan, Guangxi, and other places, and also precipitation in Yunnan and other places. As of August 14, 2025, the weekly capacity utilization rate of butadiene rubber was 62.91%, a decrease of 1.8% compared with the previous week, and the weekly capacity utilization rate of styrene - butadiene rubber was 80.71%, an increase of 1.39% compared with the previous week [2]. Inventory Side - As of August 15, 2025, the weekly warrant total inventory of natural rubber on the Shanghai Futures Exchange was 213,190 tons, an increase of 2,860 tons compared with the previous week; the weekly social inventory of natural rubber in Qingdao was 401,500 tons, a decrease of 12,000 tons compared with the previous week; the bonded area inventory was 85,700 tons, a decrease of 2,000 tons compared with the previous week. As of August 14, 2025, the weekly social inventory of butadiene rubber was 11,531 tons, a decrease of 1,135 tons compared with the previous week [2]. Cost Side - The global natural rubber supply has entered the production - increasing period, and major producing areas at home and abroad have fully started tapping. As of August 15, 2025, the purchase price of rubber latex in the Songkhla market in Thailand was 61.2 baht/kg, unchanged from the previous day, and the daily purchase price of natural rubber latex in the Hainan market was 1,450 yuan/ton, a decrease of 500 yuan/ton compared with the previous day. As of August 15, 2025, the daily average price of butadiene (99.6%) in China was 9,350 yuan/ton, a decrease of 25 yuan/ton compared with the previous day. As of August 13, 2025, the weekly import inventory of butadiene in China was 20,400 tons, an increase of 5,700 tons compared with the previous week [2]. Demand Side - As of August 14, 2025, the weekly operating load rate of all - steel tires in Shandong was 63.07%, an increase of 2.09% compared with the previous week, and the weekly operating load rate of semi - steel tires in China was 72.25%, a decrease of 2.28% compared with the previous week. According to the data of the Passenger Car Association, from July 1st to 31st, the retail sales of the national automobile market were 2.593 million vehicles, a decrease of 311,500 vehicles compared with the previous month. The sales volume of passenger cars in July was 2.287 million vehicles, a decrease of 248,500 vehicles compared with the previous month; the sales volume of trucks in July was 264,000 vehicles, a decrease of 52,200 vehicles compared with the previous month. The automobile market has entered the traditional off - season. From January to July 2025, the cumulative production and sales of automobiles in China were 18.235 million and 18.269 million vehicles respectively, with year - on - year increases of 12.7% and 12% respectively [2].

Core Viewpoint - The automotive market in July 2025 experienced a seasonal decline in production and sales, but year-on-year growth was observed, particularly in the new energy vehicle sector, which continued its rapid growth trend [1][3][6]. Production and Sales Overview - In July 2025, total automotive production and sales reached 2.591 million units and 2.593 million units, respectively, representing a month-on-month decrease of 7.3% and 10.7%, but a year-on-year increase of 13.3% and 14.7% [3]. - Passenger vehicle production and sales in July 2025 were 2.293 million units and 2.287 million units, with month-on-month declines of 6% and 9.8%, and year-on-year increases of 13% and 14.7% [4]. - From January to July 2025, passenger vehicle production and sales totaled 15.838 million units and 15.841 million units, reflecting year-on-year growth of 13.8% and 13.4% [5]. - Total automotive production and sales from January to July 2025 were 18.235 million units and 18.269 million units, showing year-on-year growth of 12.7% and 12% [6]. New Energy Vehicles - In the first seven months of 2025, new energy vehicle production and sales reached 8.232 million units and 8.220 million units, with year-on-year growth of 39.2% and 38.5% [7]. - In July 2025, new energy vehicle production and sales were 1.243 million units and 1.262 million units, marking year-on-year increases of 26.3% and 27.4% [9]. Commercial Vehicles - In July 2025, commercial vehicle production and sales were 298,000 units and 306,000 units, with month-on-month declines of 15.8% and 17.1%, but year-on-year growth of 16.3% and 14.1% [8]. - From January to July 2025, commercial vehicle production and sales totaled 2.397 million units and 2.428 million units, reflecting year-on-year growth of 6% and 3.9% [9]. Domestic and Export Sales - In the first seven months of 2025, domestic automotive sales reached 14.588 million units, showing a year-on-year increase of 11.8% [10]. - In July 2025, domestic automotive sales were 2.018 million units, with a month-on-month decline of 12.7% but a year-on-year increase of 12.6% [12]. - Automotive exports in July 2025 totaled 575,000 units, representing a month-on-month decrease of 2.8% but a year-on-year increase of 22.6% [13].

此外，从出口来看，7月汽车出口57.5万辆，环比下降2.8%，同比增长22.6%。1-7月汽车出口368万辆， 同比增长12.8%。 （文章来源：新京报） 新京报贝壳财经讯（记者王琳琳）8月11日，中国汽车工业协会发布的数据显示，7月汽车产销分别为 259.1万辆和259.3万辆，同比分别增长13.3%和14.7%。今年1-7月，汽车产量为1823.5万辆，同比增长 12.7%；销量为1826.9万辆，同比增长12%。 乘用车方面，今年1-7月乘用车产销分别为1583.8万辆和1584.1万辆，同比分别增长13.8%和13.4%。其 中，自主品牌乘用车1-7月为1087.3万辆，同比增长24.4%。 ...

Group 1 - In the first four months of the year, traditional fuel vehicle exports reached 1.295 million units, a year-on-year decrease of 7.9%, while new energy vehicle exports totaled 642,000 units, marking a year-on-year increase of 52.6% [1][2] - The overall performance of the automotive market in April was stable, with production and sales achieving year-on-year growth, supported by the accelerated release of domestic demand [1] - For the first four months, China's automotive production and sales both surpassed 10 million units for the first time in history, with production at 10.175 million units and sales at 10.06 million units, reflecting year-on-year increases of 12.9% and 10.8% respectively [1] Group 2 - In April, passenger car production and sales reached 2.257 million and 2.223 million units, respectively, with year-on-year growth of 10.2% and 11% [2] - In April, total automotive exports were 517,000 units, showing a year-on-year increase of 2.6%, while traditional fuel vehicle exports were 317,000 units, down 18.7%, and new energy vehicle exports were 200,000 units, up 76% [2] - For the first four months, total automotive exports reached 1.937 million units, a year-on-year increase of 6% [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 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 ： 02 33 3（ 港 幣 櫃 台 ） 及 823 33（ 人 民 幣 櫃 台 ） 自願公告 2025年3月產銷快報 本公告乃由長城汽車股份有限公司（「本公司」）自願刊發。 本公司董事會謹此宣佈，本公司於2025年3月產銷量詳細如下(單位:台)： | 車型 | | | 銷量 | | | | 產量 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | -- ...

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（港幣櫃台）及 82333（人民幣櫃台） 海 外 監 管 公 告 此海外監管公告是根據香港聯合交易所有限公司證券上市規則第13.10B條發出。以下為 長城汽車股份有限公司於上海證券交易所網站（www.sse.com.cn）所刊發之「長城汽車 股份有限公司2025年2月產銷快報」。 承董事會命 長城汽車股份有限公司 聯席公司秘書 李紅栓 中國河北省保定市，2025 3 月2 於本公告日期 ，董事會成員如下： 執行董事：魏建軍先生 、趙國慶先生及李紅栓女士。 非執行董事：何平先生。 獨立非執行董事：樂英女士、范輝先生及鄒兆麟先生。 * 僅供識別 证券代码：601633 证券简称：长城汽车 公告编号：2025-023 转债 ...

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 ： 02 33 3（ 港 幣 櫃 台 ） 及 823 33（ 人 民 幣 櫃 台 ） 自願公告 2024年12月產銷快報 本公告乃由長城汽車股份有限公司（「本公司」）自願刊發。 本公司董事會謹此宣佈，本公司於2024年12月產銷量詳細如下(單位:台)： | 車型 | | | 銷量 | | | | 產量 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | ...