Core Viewpoint - GAC Group showcases its "Panyu Action" reform achievements at the 23rd Guangzhou International Auto Show, emphasizing the creation of user value through "four engines" based on new technologies, products, services, and ecosystems, aiming to establish a new GAC that is technology-leading, quality-leading, and ecology-leading [1][4][6]. Group 1: Panyu Action and User-Centric Approach - GAC Group is committed to a user-centric approach, advancing the "Panyu Action" integrated reform, focusing on three major battles: user demand, product value, and service experience [4][6]. - The introduction of the Integrated Product Development (IPD) process has improved business efficiency by approximately 50%, reduced new car development cycles from 26 months to 18-21 months, and lowered R&D costs by over 10% [4][6]. Group 2: Four Engines for Value Creation - The "four engines" of GAC Group include new technologies, products, services, and ecosystems, aimed at enhancing user value [7][9]. - In new technology, GAC has achieved breakthroughs in user experience, including the "Star Source Range Extender" and the highest efficiency electric motor in the industry, exceeding 99% [9][11]. - GAC plans to launch nine new or updated models by 2026, driven by user demand and a comprehensive R&D system [11][20]. Group 3: Service and Ecosystem Innovations - GAC is expanding its service network with plans to add 600 brand experience stores, covering over 90% of county-level markets in China [11][13]. - The company has completed 45 over-the-air (OTA) updates this year, enhancing over 300 features across nearly 150,000 vehicles [11][15]. - GAC is building a comprehensive energy ecosystem, partnering with industry leaders like CATL to develop a battery swap network and a charging network covering 31 provinces [15][16]. Group 4: Product Highlights at the Auto Show - GAC Aion's i60 and UT super models were highlighted, showcasing advanced technologies and competitive pricing, with the UT super starting at 49,900 yuan [26][30]. - The GAC Trumpchi brand introduced several models, including the Trumpchi M8 and S9, aimed at providing high-quality, long-range, and high-value experiences [20][31]. - GAC's collaboration with Huawei on the A800 model features innovative interior designs and advanced driving assistance systems, enhancing user experience [18][20]. Group 5: Future Directions - GAC Group is entering a deep transformation phase, focusing on user-centric strategies and the "four engines" to achieve its goal of reinventing itself during the 14th Five-Year Plan period [40].

为进一步激发组织活力，广汽集团重塑"用户第一、奋斗者为本"的企业文化，并通过"项目制"激发员工 活力，构建了员工与企业收益共享的激励机制。目前全球招聘的新一届职业经理人已全部到岗。 广汽集团董事长冯兴亚在发布会上表示："变革之路已经开启，变革的果子正在成熟！广汽将以'番禺行 动'为指引，打造'新技术、新产品、新服务、新生态'四大核心发展引擎，力争在'十五五'期间，实现再 造新广汽的目标！" 基于市场及用户需求变化，本届车展，广汽集团以"番禺行动"为引领，聚焦为用户创造价值，正式推 出"新技术、新产品、新服务、新生态"四大核心发展引擎，助力再造新广汽。 在第二十三届广州国际汽车展览会上，广汽集团（601238）全面展示了"番禺行动"一周年的改革成果， 并正式发布为用户创造价值的"四大引擎"，依托"新技术、新产品、新服务、新生态"，再造一个"科技 领先、品质领先、生态领先"的新广汽。 面对汽车行业的深度变革与激烈内卷，广汽集团坚持以用户为中心，深入推进"番禺行动"一体化改革， 并围绕"用户需求战、产品价值战、服务体验战"三大战役全面发力，持续强化"更懂用户、反应更快、 技术更强"的核心竞争力。 广汽集团通过全面导 ...

在新技术方面，有"星源增程"、夸克电驱电机、弹匣电池等，全固态电池中试线正式投产。在安全领 域，广汽发布了"星灵安全守护体系"。在智能底盘领域有鹰爪系统2.0。在智能AI领域，升级了"星灵智 行"。 11月21日，广汽集团（601238）在2025广州车展上全面展示了"番禺行动"一周年的改革成果，并正式发 布为用户创造价值的"四大引擎"，依托"新技术、新产品、新服务、新生态"，再造一个"科技领先、品 质领先、生态领先"的新广汽。 广汽集团董事长冯兴亚表示："一年前的今天，我们就是在这里，吹响了'番禺行动'的号角。一年来广 汽的管理变革和科技创新，可以说已经找准了路子，见到了果子。首先，我们重构了'造好车'的流程， 以便让我们的产品更加精准地响应用户的需求、引领市场的期待。同时，我们升级了'卖好车'的体系， 核心是要持续提升用户体验。更重要的是，我们激活了'造车的人'，为持续提供优秀的产品和服务积蓄 核心动能。" 面对汽车行业的深度变革与激烈内卷，广汽集团坚持以用户为中心，围绕"用户需求战、产品价值战、 服务体验战"三大战役全面发力，通过全面导入IPD(集成产品开发)流程，将用户需求深度融入产品定 义、研发到上 ...

"变革之路已经开启，变革的果子正在成熟！"广汽集团董事长冯兴亚在广州车展上如此评价番禺行动一年来取得的成效。 11月21日，第二十三届广州国际汽车展览会在广交会展馆正式开幕。坐拥主场的广汽集团全面展示了"番禺行动"一周年的改革成果，并正式发布为用户创造 价值的"四大引擎"，依托"新技术、新产品、新服务、新生态"，再造一个"科技领先、品质领先、生态领先"的新广汽。广汽集团旗下全品牌携多款最新智能 科技车型同步登场，更首次设立"科技广汽"展区，为用户解锁未来出行的更多可能。 广汽集团坚持以用户为中心，深入推进"番禺行动"一体化改革，并围绕"用户需求战、产品价值战、服务体验战"三大战役全面发力，持续强化"更懂用户、 反应更快、技术更强"的核心竞争力。广汽集团通过全面导入IPD（集成产品开发）流程，将用户需求深度融入产品定义、研发到上市的全生命周期。目前 业务效率提升约50%，新车开发周期将从26个月缩短至18～ 21个月，市场反应速度提升6倍以上，研发成本降低超10%，为快速推出符合用户期待的产品奠 定了坚实基础。同时，建立了IPMS（集成产品营销和销售）体系，组建"产品商业化团队"，构筑以用户为核心的"端到端"流 ...

校对 付春愔 去年广州车展上，广汽集团启动三年"番禺行动"，通过四大改革举措、五大保障，在2027年实现自主品 牌占集团总销量60%以上，挑战自主品牌销量200万辆。 "现在的广汽，所有关于造好车的讨论，起点和终点都必须是用户。我们重构了IPD集成产品开发流程 体系，实现业务效率提升约50%、市场反应速度快6倍以上。同时，广汽建立了IPMS营销服务流程体 系，组建了专门的产品商业化团队。"冯兴亚称。 新京报贝壳财经讯（记者张冰）11月21日，广汽集团以"包馆"形式参加2025广州车展，并首次设立"科 技广汽"展区，展示"番禺行动"实施一周年以来的成果。发布会现场，冯兴亚在提到"番禺行动"一周年 的变革时称，"在变革方面，可以说已经找准了路子，见到了果子。尽管有些果子还有待成熟，但我相 信，它一定会为我们带来甘甜。" ...

11月16日，广汽集团新一届职业经理人选聘结果正式公布。经严格的市场化遴选与组织考察，广汽集团正式聘任閤先庆为总经理、王丹为总会计师，高 锐、江秀云、郑衡、黄永强、陈家才为副总经理。 广汽集团总经理閤先庆 广汽集团发布全球化战略升级计划"One GAC 2.0" 以人才重塑竞争力，助力再造"新广汽" 当下，全球汽车产业正处于前所未有的深刻重构阶段，电动化、智能化、网联化趋势加速演进。面对行业变革，广汽集团于2024年11月启动了为期三年 的"番禺行动"，对自主品牌从战略管控模式向更具实效性的经营管控模式转型。在转型过程中，广汽集团通过导入DSTE、IPD等管理体系，重塑了流程、 重构了组织，并通过完善人才培养体系、优化激励机制等方式激活人才动能。此次职业经理人团队的重组，正是"番禺行动"人才机制改革的重要成果。 在此次迈向改革深水区的关键人事布局中，广汽集团不仅坚守"市场化选聘、契约化管理、差异化薪酬、市场化退出"的用人机制，更以海纳百川的开放格 局，成功引入外部创新人才，为再造一个"新广汽"的战略蓝图注入了强劲的新动能，深层次激发组织活力。 引入创新人才，注入发展新动能 作为中国汽车产业改革的先行者，人才机 ...

Group 1 - The core viewpoint of the news is the appointment of a new management team at GAC Group, which aims to enhance organizational vitality and drive the company's transformation into a "new GAC" through innovative talent mechanisms [1][2]. - GAC Group has appointed He Xianqing as General Manager and Wang Dan as Chief Accountant, along with several Vice General Managers, as part of a market-oriented selection process [1]. - The company has implemented a performance-oriented compensation incentive mechanism and a tiered exit mechanism based on assessment results, enhancing its corporate governance [1][2]. Group 2 - GAC Group is undergoing a significant transformation in the global automotive industry, focusing on electrification, intelligence, and connectivity, with the launch of the "Panyu Action" initiative in November 2024 [2]. - The new management team is a key outcome of the "Panyu Action," which aims to attract high-level talent and promote a diverse and high-level talent ecosystem [2][3]. - GAC Group's recruitment efforts have successfully attracted top talents from well-known automotive brands, contributing to the continuous upgrade of its talent structure and cross-industry integration [2][3].

Core Viewpoint - GAC Group has reported a significant decline in performance, with revenue and net profit falling sharply, indicating serious challenges in both its joint venture and independent brands [1][2][4] Financial Performance - For the first three quarters, GAC Group achieved revenue of 66.93 billion, a year-on-year decrease of 10.5%, and a net loss attributable to shareholders of -4.31 billion, marking a record loss [1][2] - The third quarter alone saw revenue of 24.32 billion, down 15% year-on-year, with a net loss of -1.77 billion [1][2] Profitability Issues - The company's gross margin fell to -2.17%, a drop of 8.3 percentage points year-on-year, with the third quarter gross margin at -2.9% [2] - GAC Group's R&D expense ratio remains low at 1.5%, significantly below comparable companies like BYD and SAIC, leading to concerns about the adequacy of financial disclosures regarding operational performance [2] Brand Performance - GAC's independent brand, GAC Trumpchi, has faced a sharp decline in sales and revenue, particularly with new models like the Trumpchi M8 and S7 underperforming expectations [1][3] - In the first half of the year, GAC Trumpchi reported revenue of 17.956 billion, a year-on-year decline of 29.47%, with total sales of 146,300 units, down 22.55% [3] Strategic Initiatives - GAC Group has initiated a three-year "Panyu Action" plan aimed at increasing the share of its independent brands to 60% of total sales by 2027, targeting a sales volume of 2 million units [3][4] - Despite the plan, the first year has seen a significant decline in sales for both Trumpchi and Aion brands, with a reported loss of 19,000 per vehicle in the third quarter [3][4]

Core Viewpoint - GAC Group is the only listed automotive company in A-shares to report a decline in revenue for the third quarter, with significant losses in net profit and a sharp drop in performance compared to market expectations [1][5]. Financial Performance - GAC Group reported a total revenue of 66.93 billion yuan for the first three quarters, a year-on-year decrease of 10.5% [5]. - The net profit attributable to shareholders was -4.31 billion yuan, with a non-recurring net profit of -4.78 billion yuan, marking a record loss [5]. - In Q3 alone, revenue was 24.32 billion yuan, down 15% year-on-year, with a net profit of -1.77 billion yuan and a non-recurring net profit of -1.83 billion yuan, indicating accelerated decline [5]. Profitability Metrics - The gross margin for GAC Group fell to -2.17% for the first three quarters, a decrease of 8.3 percentage points year-on-year, with Q3 gross margin at -2.9% [5][7]. - The company's R&D expense ratio remained low at 1.5%, significantly below comparable companies like BYD and SAIC [7]. Brand Performance - GAC's self-owned brand, GAC Trumpchi, faced a significant decline in revenue, with a 29.47% drop in the first half of the year, the largest decline among GAC's brands [12]. - New models such as the Trumpchi M8 and S7 did not meet sales expectations, contributing to the overall decline in performance [9][10]. Strategic Initiatives - GAC Group initiated a three-year "Panyu Action" plan aiming for self-owned brands to account for 60% of total sales by 2027, targeting a sales volume of 2 million units for self-owned brands [12]. - Despite efforts to reduce costs and improve efficiency, the actual results have not aligned with the optimistic projections made by the company's chairman [12].

Core Viewpoint - GAC Group is undergoing significant organizational changes, including personnel adjustments and a comprehensive reform of its marketing system, aimed at enhancing user orientation and improving overall performance [1][2][3][4] Group 1: Personnel Changes - Yang Long is expected to replace Xiao Yong as the Deputy General Manager and Head of Marketing at GAC Aion, pending official confirmation from GAC Group [1] - GAC Group is implementing a competitive selection mechanism for mid-level management positions across its three brands: Aion, Trumpchi, and Haobo [1][4] - The new Chief Marketing Officers for Trumpchi and Haobo have been appointed, both of whom are external professionals with experience in internet companies [2] Group 2: Marketing Strategy - GAC Aion is shifting its focus towards the C-end market, launching new models such as the Tyrannosaurus, RT, and UT to strengthen its position in the competitive price range of 70,000 to 150,000 yuan [2] - The marketing strategy includes separating B and C-end sales channels, with dedicated experience centers for C-end customers and separate centers for B-end sales [2] Group 3: Organizational Reform - GAC Group is actively pursuing a comprehensive reform strategy known as the "Panyu Action," which includes management model transformation, R&D restructuring, and marketing integration [3][4] - The company aims to achieve integrated management across research, production, supply, sales, and finance, reducing the standard development cycle for models to 18 months and cutting R&D costs by over 10% [3] - GAC Group is also focusing on enhancing supply chain efficiency and decision-making processes, with improvements estimated at around 50% [3] Group 4: Performance Goals - GAC Group is committed to stabilizing its performance in the second half of the year, emphasizing user demand, product value, and service experience as key areas of focus [4] - The company plans to expand its overseas market presence and establish a competitive cost control system as part of its strategic initiatives [4]