日前，在2025央视财经跨年之夜，广汽集团董事长冯兴亚选择了"破局"二字作为广汽集团2025年的关键 词。他介绍，今年将推动渠道下沉，计划从2025年下半年到2026年上半年，新增600家全品牌体验店， 覆盖全国90%以上的县域市场。 进入"用户主权"时代，旧模式已失灵 冯兴亚认为，"破"字背后，是"突破"的"破"，2025年的广汽集团，正立足于"番禺行动"，在组织、技 术、人才三个方面实现了突破，构建企业新发展格局。 长久以来，汽车品牌的形象在很大程度上由工程师文化所定义——严谨、可靠。工程师与设计师依据专 业标准造车，市场与用户被视作需要被教育的对象。这种模式在卖方市场曾无往不利，但在用户主权时 代已失灵。 智能化领域，广汽ADiGO GSD智能驾驶辅助系统覆盖99.9%的道路场景，新一代ADiGO SPACE智能座 舱融合端云一体大模型，响应速度提升3倍。更为重要的是，广汽还以开放姿态与华为、宁德时代、腾 讯等顶尖伙伴共建AI智能生态链GoLink，开放合作赋能用户。 2/3竞聘岗位迎来新面孔 内部活力重建更具挑战性 为了破局，广汽集团积极导入IPD与IPMS流程体系，核心是打破传统线性流程，构建"并行 ...

Core Viewpoint - GAC Group showcased the achievements of the "Panyu Action" reform after one year and introduced the "Four Engines" strategy focused on "new technology, new products, new services, and new ecology" to create a "technology-leading, quality-leading, and ecology-leading" new GAC [1][5] Group 1: New Technology - GAC Group has integrated the IPD (Integrated Product Development) process, enhancing business efficiency by approximately 50%, reducing new vehicle development cycles from 26 months to 18-21 months, and lowering R&D costs by over 10% [3] - The company has launched the "Star Spirit Safety Guardian System," covering various safety aspects including intelligent driving and battery safety, and has achieved industry-leading efficiency with the Quark electric drive motor at 99% [7] Group 2: New Products - GAC Group has established a comprehensive R&D system driven by user needs, with plans to launch 9 new or revamped models by 2026 to meet diverse user demands [7] Group 3: New Services - The company plans to add 600 brand experience stores to cover over 90% of county markets in China, and has completed 45 OTA updates this year, enhancing over 300 features for nearly 1.5 million vehicle owners [8] Group 4: New Ecology - GAC is collaborating with industry partners to build a complete "26 Energy Action" ecosystem and has signed a long-term strategic cooperation agreement with CATL for battery swapping services, covering 1,000 stations in 45 cities [11] - The company has established a supercharging network across 31 provinces and 204 cities, with over 21,000 self-operated charging piles, leading in the number of DC charging piles among Chinese automakers [11]

Core Points - GAC Group reported a consolidated revenue of 24.318 billion yuan for Q3 2025, a quarter-on-quarter increase of 6.98%, with total vehicle sales reaching 428,400 units, up 11.49% from the previous quarter [1] - The "Panyu Action" integration reform has shown positive progress, contributing to consecutive quarter-on-quarter growth in revenue and vehicle sales [1] - GAC's overseas terminal sales increased by 36.5% year-on-year in the first nine months of the year, with operations covering 85 countries and regions [12] Financial Performance - In Q3, GAC's total revenue was 24.318 billion yuan, with a year-to-date total of 66.929 billion yuan [1] - Vehicle sales for the first three quarters reached 1.1837 million units [1] Market Expansion - GAC accelerated entry into key European markets, including the UK, Poland, Portugal, and Finland, with plans to deliver two global strategic models in Europe by Q1 2026 [12] - The company aims for full coverage of the European market by 2028, focusing on local production and technology R&D [12] Product Development and Innovation - GAC's self-developed ADiGO GSD intelligent driving assistance system now covers 99.9% of roads [13] - The company plans to invest over 10 billion yuan in R&D in 2025, focusing on smart driving, smart cockpits, and electronic architecture [12][13] Strategic Partnerships - GAC is enhancing its "circle of friends" by collaborating with major companies like Huawei, JD.com, and CATL in various fields [21] - The "启境" brand, developed in partnership with Huawei, has completed its first vehicle design and is set to launch in mid-2026 [21] New Product Launches - GAC's AION V Home model has contributed to the growth of AION V series sales [1] - The "国民好车" AION UT super, developed in collaboration with JD.com and CATL, is set to launch during the 2025 Double Eleven shopping festival [28]

Core Viewpoint - GAC Group reported a significant increase in revenue and vehicle sales for Q3 2025, indicating positive growth trends and successful integration reforms within the company [1][5]. Financial Performance - The consolidated operating revenue for GAC Group reached 24.318 billion yuan in Q3, a quarter-on-quarter increase of 6.98% [1]. - Total vehicle sales for the group amounted to 428,400 units, reflecting a quarter-on-quarter rise of 11.49% [1]. - For the first three quarters of the year, GAC Group sold 1.1837 million vehicles, with a cumulative consolidated operating revenue of 66.929 billion yuan [1]. Brand Performance - All brands under GAC experienced quarter-on-quarter sales growth in Q3 [3]. - GAC's self-owned brands, including GAC Trumpchi, GAC Aion, and GAC Haobo, saw sales exceed 159,500 units, a quarter-on-quarter increase of 15.09% [3]. - GAC Trumpchi sold 86,805 units, up 12.63% quarter-on-quarter, while GAC Aion's sales reached 72,739 units, marking an 18.13% increase [3]. - Joint venture brands also performed well, with GAC Honda and GAC Toyota achieving sales of 69,258 units (up 11.85%) and 198,511 units (up 8.43%) respectively [3]. International Expansion - GAC's overseas terminal sales grew by 36.5% year-on-year from January to September, with operations in 85 countries and regions [4]. - The company plans to deliver two global strategic models, AION V and AION UT, in Europe by Q1 2026, aiming for full market coverage by 2028 [4]. Technological Advancements - GAC is increasing investment in key areas such as intelligent driving assistance and electronic architecture, with R&D spending expected to exceed 10 billion yuan in 2025 [4]. - The GAC ADiGO GSD intelligent driving assistance system has been implemented on 99.9% of roads, and the company has established the largest V2G demonstration project in the country [4]. Integration Reforms - The "Panyu Action" integration reform has shown positive progress, contributing to consecutive quarter-on-quarter growth in revenue and vehicle sales this year [5].

Core Insights - GAC Group reported a consolidated revenue of 24.318 billion yuan for Q3 2025, a quarter-on-quarter increase of 6.98%, with total vehicle sales reaching 428,400 units, up 11.49% from the previous quarter [1] - The company is making significant progress in its "Panyu Action" integration reform, leading to consecutive quarterly growth in revenue and vehicle sales [1] - GAC Group is accelerating its entry into key European markets, with multiple technological innovations being applied, including the self-developed GAC ADiGO GSD intelligent driving assistance system covering 99.9% of roads [1] Sales Performance - All automotive enterprises under GAC Group achieved quarter-on-quarter sales growth in Q3 [2] - GAC Trumpchi, GAC Aion, and GAC Haobo increased new vehicle launches, resulting in a total sales of over 159,500 units for self-owned brands, a 15.09% increase quarter-on-quarter [2] - GAC Honda and GAC Toyota also saw sales growth, with GAC Honda selling 69,258 units (up 11.85%) and GAC Toyota selling 198,511 units (up 8.43%) [2] International Strategy - GAC Group is advancing its internationalization strategy, viewing overseas markets as key to breaking through, with a 36.5% year-on-year increase in overseas terminal sales from January to September [3] - The company has entered several European markets, including the UK, Poland, Portugal, and Finland, with plans to deliver two global strategic models in Europe by Q1 2026 [3] - GAC Group aims to achieve full coverage of the European market by 2028 [3] R&D and Innovation - GAC Group's R&D investment is expected to exceed 10 billion yuan in 2025, focusing on intelligent driving assistance, smart cockpits, and electronic architecture [3] - The company is accelerating the application of innovative technologies across multiple fields [3] - GAC Group is building a quality "circle of friends" to enhance user engagement and support the upstream and downstream of the industry chain [3]

Group 1 - GAC Group launched four new vehicles at the Shanghai Auto Show, covering multiple brands and types, including passenger and commercial vehicles [1] - The company introduced the "GAC Starling AI Panorama," showcasing its strategy in artificial intelligence and the integration of technology to build a smart mobility ecosystem [1] - GAC has been an early player in automotive intelligence, launching its first connected vehicle system, T-Box, in 2013 and the ADiGO intelligent driving ecosystem in 2019 [1] Group 2 - GAC Group's Chairman emphasized the importance of safety in technology upgrades, stating that safety standards will not be compromised [2] - The introduction of the GAC PICKUP 01 concept vehicle signals GAC's entry into the global pickup truck market, which has a sales volume of 6 million units worldwide [2] - GAC aims to capture a share of the global pickup market, which constitutes about 10% of the overall automotive structure, focusing on international markets rather than just China [2] Group 3 - The mass production of the pickup truck is expected around 2027, amidst increasing competition in the Chinese automotive market [3] - GAC is committed to clear communication regarding the levels of autonomous driving, emphasizing that safety is a fundamental requirement [3] - The company has launched a partnership with Didi Autonomous Driving to introduce a globally adaptable L4 level autonomous vehicle [5] Group 4 - GAC is confident in the safety of its L4 autonomous vehicle, asserting that it will take full responsibility for the product without any disclaimers [6] - The company has set a target for its self-owned brands to account for 60% of total sales by 2027, aiming for an annual sales volume of 2 million vehicles [6] - GAC is undergoing significant organizational reforms, including public recruitment for key positions to build a talent pool that meets modern development needs [6]