11月21日，第二十三届广州国际汽车展览会启幕，广汽集团携"番禺行动"一周年改革成果与"四大引擎"战略重磅亮相，旗下全品牌矩阵及多款智能新车集中 展出，首设的"科技广汽"展区全方位呈现未来出行图景。 广汽集团董事长冯兴亚介绍"番禺行动"一周年改革成果 面对行业变革，广汽集团深化"番禺行动"一体化改革，聚焦"用户需求战、产品价值战、服务体验战"强化核心竞争力。通过导入集成产品开发流程，将用户 需求融入产品全生命周期，业务效率提升约50%，新车开发周期缩短至18~21个月，市场反应速度提升6倍以上，研发成本降低超10%。同时构建IPMS体系 与"产品商业化团队"，重塑企业文化并完善激励机制，新一届职业经理人全部到岗，为高质量发展注入新活力。广汽集团董事长冯兴亚表示，将以"四大引 擎"推动"十五五"期间实现"再造新广汽"目标。 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。在新技术领域， 广汽集团持续突破边界。新能源领域，"星源增程"终结亏电感，夸克电驱最高效率突破99%，弹匣电池超130万辆零自燃，全固态电池中试线投产。安全、 底盘、 ...

Core Insights - GAC Aion has initiated a brand event focused on user engagement, marking a significant shift towards a user-centric approach in its operations [1][3] - The company aims to transition from an engineering mindset to one that prioritizes user co-creation, emphasizing the importance of understanding customer needs in vehicle development [1][3] User-Centric Transformation - The shift in consumer perception of cars from mere transportation to lifestyle companions necessitates a focus on emotional and functional value, making "user-centric" the core logic for business survival and growth [3][5] - GAC Aion's strategy includes three key areas: user demand, product value, and service experience, to better understand market competition and user needs [3][5] Evolving Consumer Demands - As electric vehicles become more mainstream, consumer expectations have evolved, with younger users seeking smart features, families prioritizing space and safety, and commuters valuing range and charging convenience [5][6] - GAC Aion aims to provide high-quality vehicles at reasonable prices, leveraging its manufacturing capabilities and cost advantages to make advanced technology accessible to more families [5][6] Technological and Manufacturing Capabilities - GAC Aion's commitment to producing user-oriented vehicles is supported by its self-developed technologies and large-scale production capabilities, ensuring high performance, safety, and reliability [6][7] - The company has established a "lighthouse factory" for electric vehicles, ensuring product quality and customer satisfaction, while also focusing on advanced battery technology and electric drive systems [7][9] New Product Launches - Recent product launches include the Aion RT and Aion UT super, which feature competitive pricing and innovative functionalities, such as battery swapping for affordable models [9][10] - The Aion i60, a new dual-power model, addresses user pain points related to range anxiety and performance, showcasing GAC Aion's commitment to user-driven innovation [10][11] Strategic Collaborations - GAC Aion is engaging in cross-industry collaborations to enhance user value, exemplified by its partnership with JD.com and CATL to offer innovative vehicle configurations and purchasing experiences [10][11] - The launch of the Aion UT super, designed based on user insights, reflects the company's strategy to integrate user needs into its product development process [10][11]

Core Insights - GAC Aion has launched the Aion i60, a new five-seat SUV that features both pure electric and range-extended powertrains, with a starting pre-sale price of 126,800 yuan for the range-extended version and 119,800 yuan for the pure electric version [2] - Since its establishment in 2017, GAC Aion has focused on pure electric vehicles, achieving cumulative sales of 1.8 million units, but has recently faced a decline in sales, with a 32.55% year-on-year drop in October 2025 [2][3] - The company is undergoing a restructuring phase within GAC Group, aiming to enhance competitiveness through integrated operations and technological innovation [3] Sales Performance - GAC Aion's sales in October 2025 were 27,014 units, a decrease of 32.55% year-on-year, and total sales from January to October 2025 reached 262,000 units, down 19% year-on-year [2] - The brand has experienced significant fluctuations in market sales compared to previous peaks, where monthly sales exceeded 40,000 units [2] Strategic Adjustments - GAC Aion is repositioning its brand with the slogan "National Good Car," aiming to cater to the mainstream market of 100,000 to 200,000 yuan, where it believes there is a lack of true national new energy brands [3] - The company is focusing on providing advanced, trendy, and high-quality vehicles that offer value and emotional connection to consumers [3] Product Development - GAC Aion is now entering the hybrid and range-extended vehicle market, joining other brands that have previously focused solely on pure electric models [4] - The Aion i60 features the latest Star Source range-extended technology, previously used in higher-end models, now made available in the sub-150,000 yuan market [4] - The introduction of laser radar-assisted driving technology in the Aion i60 highlights the company's commitment to enhancing cost-performance [4] Infrastructure and Service Expansion - GAC Aion has surpassed 20,000 self-operated charging piles, with 1,000V fast charging piles leading the industry, and has established a comprehensive charging network with over 1.37 million interconnected charging piles [4] - The company plans to expand its sales network, adding 100 new locations this year and aiming for a total of 600 by 2026, while implementing a detailed NPS system to improve user service [5] - The Aion i60 is a key model in GAC Aion's product matrix, which includes the Aion "Three Dragons" series, targeting the 100,000 to 200,000 yuan price range [5]

Core Insights - GAC Group has entered a "wartime state" to tackle user demand, product value, and service experience battles, aiming to reshape the company for the future [2] - GAC's achievements include being ranked first in the resale value of independent brands for 2024 and the first in MPV resale value for three consecutive years, reflecting its commitment to product quality and user reputation [2] - The company faces challenges with declining sales and profits, with 2023 and 2024 sales figures of 2.505 million and 2.0031 million units, respectively, showing a 20.04% decline in 2024 [3] Sales and Financial Performance - GAC Group's sales decreased by 12.48% in the first half of 2025, totaling 755,300 units, amid intensified market competition and changes in the new energy vehicle market [3] - The net profit for GAC Group was 4.429 billion yuan in 2023 and 0.824 billion yuan in 2024, marking a decline for two consecutive years, with a projected loss of 1.82 billion to 2.6 billion yuan in the first half of 2025 [2][3] Strategic Direction - GAC Group aims to enhance its development through a focus on user demand, product value, and service experience, with plans to build an efficient R&D system and increase investment in new energy technology [3] - The company targets achieving 2 million sales for its independent brands by 2027, including 500,000 units in overseas markets, and aims for production and sales exceeding 4.75 million units and revenue over 1 trillion yuan by 2030 [3]

Core Viewpoint - The automotive industry is undergoing significant transformation, and GAC Group is entering a "wartime state" to address evolving user demands and enhance product value and service experience [1] Group 1: User Demand Battle - GAC Group is restructuring its R&D system to focus on user insights, ensuring that vehicle development meets both functional and emotional value [2] - The company emphasizes the importance of understanding and meeting emotional needs, as vehicles are now seen as personal companions rather than just functional products [1][2] Group 2: Product Value Battle - GAC Group is investing heavily in R&D to enhance safety and technology, mastering key technologies such as high-safety battery systems and advanced driving assistance [2] - The company aims to launch its first mass-produced L4 autonomous driving vehicle this year, showcasing its commitment to innovation in the smart vehicle sector [2] Group 3: Service Experience Battle - GAC Group is implementing an integrated product marketing and sales (IPMS) system to enhance customer experience and satisfaction [4] - The company is focusing on online and offline service integration, aiming to resolve 93% of customer issues within two hours [4] - GAC is also expanding its service network in lower-tier cities to better reach consumers [4] Future Goals - GAC Group aims to achieve a sales target of 2 million units for its self-owned brands by 2027, focusing on delivering both functional and emotional value to users [5]

Core Viewpoint - GAC Group has entered a "wartime state" to tackle the challenges of the automotive industry's transformation and aims to reinvent itself through three major battles [2] Group 1: User Demand Battle - User demand is identified as the core variable in the evolution of the automotive industry, with a shift towards smart, connected, and emotional vehicles [4] - GAC Group is enhancing its customer insight capabilities and restructuring its user operation system to meet core user needs and create emotional value [5] - The company aims to improve product acceleration performance, targeting a 0-100 km/h acceleration in 3 seconds for household products, and aims for an energy efficiency of 12 km per kWh [6] Group 2: Product Value Battle - GAC Group has invested heavily in R&D, mastering leading technologies in the new energy vehicle sector, including high-safety battery systems and advanced hybrid systems [8] - The company plans to launch its first L4 level autonomous driving vehicle by 2025, leveraging advanced AI and electronic architectures [8] - GAC Group emphasizes safety with a comprehensive safety system, including dual redundancy for eight key systems, ensuring user safety [8] Group 3: Service Experience Battle - GAC Group is implementing an integrated product marketing and sales (IPMS) system to enhance customer experience and satisfaction [10] - The company aims to resolve 93% of customer issues within two hours and is enhancing its service capabilities through a comprehensive service process [11] - GAC Group is focusing on online and offline integration, with a 24/7 online service and over 2000 sales service points nationwide [10][11]

Core Viewpoint - GAC Group has entered a "wartime state" to tackle the challenges of the automotive industry's transformation, focusing on three major battles to reinvent itself [2]. Group 1: User Demand Battle - User demand is identified as the core variable in the evolution of the automotive industry, with a shift towards vehicles that serve as personalized and emotional companions [4]. - GAC Group is enhancing its customer insight capabilities and restructuring its user operation system to meet core user needs and create emotional value [4]. - The company aims to achieve an acceleration performance of under 3 seconds for household products and a target of 12 kilometers per kilowatt-hour for energy efficiency [4]. - GAC Group plans to introduce multiple range-extended and plug-in hybrid models starting in 2025, with the GAC Haobo HL range-extended version set to launch in August 2025 [5]. Group 2: Product Value Battle - GAC Group has developed leading technologies in the electric vehicle sector, including high-safety battery systems and advanced hybrid systems, through sustained R&D investment [7]. - The company is focusing on intelligent driving technologies, aiming to launch its first mass-produced L4 autonomous vehicle by 2025 [7]. - GAC Group emphasizes safety with the "GAC Starling Safety Guardian System," which includes dual redundancy designs for eight critical systems [7]. - Collaborations with tech companies like Huawei and CATL are ongoing to enhance product value and meet personalized user demands [7]. Group 3: Service Experience Battle - GAC Group is implementing an Integrated Product Marketing and Sales (IPMS) system to enhance customer experience and satisfaction [9]. - The company has restructured its service processes and introduced a Net Promoter Score (NPS) management system to focus on customer experience [9]. - GAC Group aims to resolve 93% of customer issues within two hours and is expanding its service network in lower-tier cities [9][10]. - A regular Over-The-Air (OTA) update system for vehicle software will be fully implemented by 2025 to provide users with a continuously updated technology experience [9].

广州汽车集团股份有限公司 关于估值提升计划的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重 大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 H股代码：02238 H 股简称：广汽集团 A股代码：601238 A股简称：广汽集团 公告编号：临2025-016 二、估值提升计划的具体内容 重要内容提示: ●根据《上市公司监管指引第 10 号——市值管理》的相关规定，为切实推 动提升广州汽车集团股份有限公司（简称"公司"或"广汽集团"）投资价值， 增强投资者回报，结合公司发展规划，拟在公司治理、经营提升、并购重组、股 权激励及员工持股、现金分红等领域充分考虑投资者利益和回报，坚持稳健经营， 不断提升公司投资价值。经公司董事会审议批准，制定《估值提升计划》。 ●相关风险提示：本《估值提升计划》是基于目前公司的实际情况而做出的 计划方案，不构成公司对业绩、股价、重大事件等任何指标或事项的承诺。公司 业绩及二级市场表现受到宏观形势、行业政策、市场情况等诸多因素影响，实现 情况存在不确定性。 一、估值提升计划的触发情形及审议程序 （一）触发情形 2024 年 1 月 1 日至 20 ...