7月10日，中国汽车工业协会发布产销数据。上半年，国内汽车产销量均超过1500万辆，同比均实现 10%以上较高增长。其中，新能源汽车新车销量达到汽车新车总销量的44.3%。 从主要车企销售数据看，比亚迪（002594）、上汽集团（600104）、吉利汽车、长安汽车（000625）、 奇瑞集团销量均突破百万辆，其中比亚迪、上汽集团两家车企销售突破200万辆，长城汽车（601633） 销量仅为56.98万辆，排名垫底。 从增速看，吉利汽车增速最高，同比增长47%，而长城汽车仅增长1.81%，增速显著低于全国平均水 平。 长城汽车欧拉品牌上半年销量腰斩，坦克品牌销量为10.37万台，同比下降10.67%，相较于去年同期 99%的同比增速大幅下滑。 坦克是长城的主力品牌，整体定价高，盈利能力强，是长城的冲击高端的主要品牌之一。 作为定位越野的品牌，近年来竞争激烈，之前有北汽旗下的越野品牌，之后又有方程豹系列。比亚迪旗 下方程豹品牌依托DMO超级混动越野平台，推出豹5、豹8等车型，凭借性价比优势快速抢占市场。从 销量来看，方程豹上半年累计销售60746台，同比增长2.0%，显然抢走了长城的越野市场。 虽然销量增长乏力， ...

证券代码：601633 证券简称：长城汽 车 公告编号：2025-073 转债代码：113049 转债简称：长汽转债 本公司董事会谨此宣布，本公司于2025年6月产销量详细如下(单位:台)： | 销 | | --- | | 量 | | | | | | | 产量 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 车型 | | | 月度同比 | | | 年度同比 | | | | 月度同 | | 比 | | | | 年度同比 | | | | | | | | | 本月 | | 去年同期 | | 增减(%) | 本年累计 | 去年同期 | 增减(%) | | 本月 | | 去年同期 | | 增减(%) | | 本年累计 | 去年同期 | 增减(%) | | | | | | 哈弗品牌 | | 62,396 | 47,729 | 30.73 | 321,427 | 299,738 | 7.24 | 57,322 | 52,172 | | | 9.87 | 317,416 | 308,103 | | 3.02 | | | ...

证券代码：601633 证券简称：长城汽车 公告编号：2025-073 转债代码：113049 转债简称：长汽转债 长城汽车股份有限公司 2025 年 6 月产销快报 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。 本公告乃由长城汽车股份有限公司（「本公司」）自愿刊发。 本公司董事会谨此宣布，本公司于2025年6月产销量详细如下(单位:台)： | 车型 | | | 销量 | | | | | | 产量 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 月度同比 | | | 年度同比 | | | 月度同比 | | | 年度同比 | | | | | 本月 | 去年同期 | 增减(%) | 本年累计 | 去年同期 | 增减(%) | 本月 | 去年同期 | 增减(%) | 本年累计 | 去年同期 | 增减(%) | | 哈弗品牌 | 62,396 | 47,729 | 30.73 | 321,427 | ...

日前，长城汽车发布《关于欧拉品牌总经理的人事任命公告》，任命吕文斌为欧拉品牌总经理，主责欧拉品牌全面管理工作。任 命自2025年6月20日起生效。 公告介绍称，吕文斌毕业后入职长城汽车，是长期致力于技术与研发工作的资深专家，在2020年升任哈弗品牌技术总经理。 图源：欧拉官网 欧拉品牌销量下滑 品牌成立之初，曾推出首款纯电动车产品R1产品获得市场认可，一度月销过万。2021年欧拉品牌迎来销量峰值，全年销量突破 13万辆。 自2022年起，欧拉的增长势头戛然而止。2022年和2023年的年销量均徘徊在10万辆左右。值得注意的是，2024年欧拉全年仅销售 新车6.33万辆，同比下滑41.69%，几近腰斩。 根据长城汽车公告显示，2024年销量约123.33万台，同比增加0.21%。但长城汽车2024年的销量目标是190万辆，其完成率仅有 64.91%。 欧拉品牌自2018年成立以来，担任着长城汽车新能源领域的排头兵角色。 | 车型 | | | 销量 | | | | | | 产量 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- ...

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company experienced a recovery in May sales, with a year-on-year increase of 11.78%, selling 102,200 vehicles [6][7] - The sales of new energy vehicles reached 32,600 units in May, up 32.41% year-on-year, while sales of models priced above 200,000 yuan increased by 24.67% [7] - The company is expanding its overseas sales, with May overseas sales at 34,500 units, accounting for 33.78% of total monthly sales [8] - New product launches are expected to support continued sales growth, with several new models introduced in April and May [8] Summary by Sections Basic Data - Latest closing price: 22.46 yuan - 12-month A-share price range: 21.83-32.03 yuan - Total shares: 8,559.53 million - Circulating market value: 191.54 billion yuan [2] Sales Performance - May sales reached 102,200 units, with a cumulative total of 459,100 units from January to May, showing a slight year-on-year decrease of 0.54% [6] - Breakdown of May sales by brand: Haval brand sold 57,700 units (+22.58% YoY), WEY brand sold 6,200 units (+115.27% YoY), and Ora brand sold 2,000 units (-67.34% YoY) [7] Financial Forecast - Expected net profits for 2025-2027 are projected at 14.315 billion, 16.584 billion, and 18.762 billion yuan, respectively, with year-on-year growth rates of 12.8%, 15.9%, and 13.1% [9] - Revenue forecasts for 2025-2027 are 234.06 billion, 264.54 billion, and 294.23 billion yuan, with growth rates of 15.8%, 13.0%, and 11.2% [11]

Core Viewpoint - The announcement from Great Wall Motors provides detailed sales and production figures for May 2025, highlighting both monthly and year-to-date performance across various brands [2][3]. Group 1: Sales Performance - The total sales volume for May 2025 reached 102,231 units, representing an 11.78% increase compared to the same month last year [3]. - Year-to-date sales volume stands at 459,099 units, showing a slight decrease of 0.54% compared to the previous year [3]. Group 2: Brand-Specific Performance - Haval brand sold 57,693 units in May 2025, a 22.58% increase year-on-year, with a cumulative total of 259,031 units, up 2.79% [3]. - WEY brand experienced significant growth, with sales of 6,161 units in May, marking a 115.27% increase year-on-year, and a cumulative total of 24,297 units, up 43.53% [3]. - Great Wall Pickup recorded sales of 15,510 units in May, a 2.71% increase year-on-year, with a total of 83,015 units year-to-date, up 8.28% [3]. - Ora brand faced a decline, selling only 1,961 units in May, down 67.34% year-on-year, with a cumulative total of 10,625 units, down 58.69% [3]. - Tank brand sold 20,900 units in May, a 2.82% increase year-on-year, but year-to-date sales decreased by 8.77% to 82,089 units [3]. Group 3: Production Performance - The total production volume for May 2025 was 101,888 units, reflecting a 7.91% increase compared to the same month last year [3]. - Year-to-date production volume is reported at 462,564 units, showing a marginal decrease of 0.07% compared to the previous year [3].

本公司董事会谨此宣布，本公司于2025年5月产销量详细如下(单位:台)： | 车型 | | | 销量 | | | | | | 产量 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 月度同比 | | | 年度同比 | | | | 月度同比 | | 年度同比 | | | | | 本月 | 去年同期 | 增减(%) | 本年累计 | 去年同期 | 增减(%) | 本月 | 去年同期 | 增减(%) | 本年累计 | 去年同期 | 增减(%) | | 哈弗品牌 | 57,693 | 47,066 | 22.58 | 259,031 | 252,009 | 2.79 | 56,298 | 52,966 | 6.29 | 260,094 | 255,931 | 1.63 | | WEY品牌 | 6,161 | 2,862 | 115.27 | 24,297 | 16,928 | 43.53 | 6,919 | 3,654 | 89.35 | 25,187 | 18,234 | 38.13 ...

本公告乃由长城汽车股份有限公司（「本公司」）自愿刊发。 本公司董事会谨此宣布，本公司于2025年4月产销量详细如下(单位:台)： | 车型 | | | 销量 | | | | | | 产量 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 月度同比 | | | 年度同比 | | | | 月度同比 | | 年度同比 | | | | | 本月 | 去年同期 | 增减(%) | 本年累计 | 去年同期 | 增减(%) | 本月 | 去年同期 | 增减(%) | 本年累计 | 去年同期 | 增减(%) | | 哈弗品牌 | 56,748 | 47,054 | 20.60 | 201,338 | 204,943 | -1.76 | 56,952 | 51,913 | 9.71 | 203,796 | 202,965 | 0.41 | | WEY品牌 | 4,811 | 4,458 | 7.92 | 18,136 | 14,066 | 28.94 | 4,923 | 4,933 | -0.2 ...