Core Viewpoint - Great Wall Motors (GWM) is consolidating its brand presence in the Russian market under the "ONE GWM" strategy, aiming to unify its various brands and enhance operational efficiency [1][3]. Group 1: Brand Strategy - GWM will unify all its brands in Russia to use the "GWM" abbreviation, including GWM Haval, GWM TANK, GWM ORA, and GWM WEY [1]. - The official dealer name "HAVAL MOTOR RUS" will change to "Great Wall Motor Rus" LLC [1]. - The "ONE GWM" strategy was first announced at the end of 2022, aiming to create a cohesive brand identity and improve resource integration across product planning, communication efficiency, channel effectiveness, and customer service [3]. Group 2: Sales Performance - GWM's cumulative sales in Russia over the past 20 years reached 673,000 vehicles, with a projected 18.5% contribution to GWM's global sales in 2024 [3]. - In 2024, GWM's overseas sales are expected to reach 454,100 vehicles, a year-on-year increase of 44.61% [4]. - In the first seven months of 2024, GWM's overseas sales were 238,700 vehicles, achieving 46% of the annual target [4]. Group 3: Market Challenges - The Russian market has seen a significant decline in car sales, with a 24% year-on-year drop in passenger car sales in the first half of 2024 [6]. - GWM is the first Chinese company to establish a wholly-owned assembly plant in Russia, which helps mitigate the impact of increased import taxes [6]. - GWM is also expanding into other markets, including South America and Southeast Asia, with a new factory in Brazil set to begin production in the second half of the year [6].

Core Viewpoint - Great Wall Motors is focusing on a unique strategy that avoids the range-extended electric vehicle (EREV) market, emphasizing its advanced hybrid technology and a commitment to both internal combustion engines and electric drive systems to meet diverse consumer needs [2][6][10]. Product Strategy - Great Wall Motors plans to launch multiple models under the Tank and Ora brands in the second half of the year [1]. - The company has developed a comprehensive hybrid ecosystem through its Hi4 technology, which integrates efficient engines, transmissions, and electric drives [6][8]. - The Tank brand will introduce several 2026 models, including the Tank 400 Hi4-Z, while the Ora brand will release two new electric models focusing on small and compact SUVs [10]. International Expansion - Great Wall Motors has been actively pursuing international markets, with a goal to become "the world's GWM" through its ONE GWM strategy [3][12]. - In 2024, the company achieved significant growth in overseas markets, with revenue reaching 80.26 billion yuan, accounting for nearly 40% of total revenue, and overseas sales increasing by 44.61% to 454,100 units [3][4]. - The company has established over 1,400 overseas sales channels and has sold vehicles in more than 170 countries, with a focus on localizing production and operations [4][12]. Market Positioning - Great Wall Motors is strategically positioning itself to adapt to different international markets, tailoring products to local economic conditions and consumer preferences [13][14]. - The company recognizes a shift in its customer base towards younger consumers, who prioritize experiential value and usage scenarios over traditional factors like brand and price [15].