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。 证券代码：601633 证券简称：长城汽车 公告编号：2026-036 转债代码：113049 转债简称：长汽转债 长城汽车股份有限公司 2026 年 3 月产销快报 3月海外销售47,142台，1-3月累计销售130,095台。 3月新能源车销售21,857台，1-3月累计销售52,630台。 务请注意，上述产销量数字未经审核，亦未经本公司审计师确认，或会予以调整并有待最终确认。本公司刊发财务业绩后，股东及潜在投资者务必详阅。 特此公告。 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2026年3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 ...

海外監管公告 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何 聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 長 城 汽 車 股 份 有 限 公 司 GREAT WALL MOTOR COMPANY LIMITED* （於中華人民共和國註冊成立的股份有限公司） 股份代號：02333（港幣櫃台）及82333（人民幣櫃台） 此海外監管公告是根據香港聯合交易所有限公司證券上市規則第 13.10B 條發出。以下為長城汽 車股份有限公司於上海證券交易所網站（www.sse.com.cn）所刊發之「長城汽車股份有限公司 2026年3月產銷快報」。 承董事會命 長城汽車股份有限公司 公司秘書 李紅栓 李紅栓 公司秘書 中國河北省保定市，2026 年 4 月1日 於本公告日期，董事會成員如下： 執行董事： 魏建軍先生、趙國慶先生及李紅栓女士。 职工董事：盧彩娟女士。 非執行董事：何平先生。 獨立非執行董事： 樂英女士、 輝先生及鄒兆麟先生。 * 僅供識別 证券代码：601633 证券简称：长城汽车 公告编号：202 ...

香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 對 本 公 告 的 內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全 部 或 任 何 部 份 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任 。 長 城 汽 車 股 份 有 限 公 司 GREAT WALL MOTOR COMPANY LIMITED * （於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司 ） 股 份 代 號 ： 02 33 3（ 港 幣 櫃 台 ） 及 823 33（ 人 民 幣 櫃 台 ） 自願公告 2026年3月產銷快報 本公告乃由長城汽車股份有限公司（「本公司」）自願刊發。 本公司董事會謹此宣佈，本公司於2026年3月產銷量詳細如下(單位:台)： | 車型 | | | 銷量 | | | | 產量 | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- ...

Core Viewpoint - Great Wall Motors Co., Ltd. reported a total revenue of 222.82 billion yuan for 2025, marking a year-on-year growth of 10.2%, while the net profit attributable to shareholders decreased by 22.07% to 9.87 billion yuan [2][3] Financial Performance - Total revenue for 2025 reached 222.82 billion yuan, up from 202.19 billion yuan in 2024, reflecting a growth of 10.2% [3] - Net profit attributable to shareholders was 9.87 billion yuan, down from 12.66 billion yuan in the previous year, a decline of 22.07% [3] - Basic earnings per share were 1.16 yuan, a decrease of 22.15% compared to 1.49 yuan in 2024 [3] - The gross profit margin was 18.04%, down by 1.47 percentage points from the previous year [3][5] - Total assets at the end of 2025 were 2252.88 billion yuan, a 3.48% increase from the beginning of the year [5] - Total liabilities decreased by 0.96% to 1373.96 billion yuan, resulting in an asset-liability ratio of 60.99%, down by 2.73 percentage points [5] Sales and Market Performance - The company sold 1.32 million new vehicles in 2025, representing a year-on-year increase of 7.23% [3] - Overseas sales reached 506,800 units, a growth of 11.60%, with a total of over 2 million cumulative overseas sales [5] - The Haval brand sold 761,500 units, up 7.69%, while the Tank brand sold 234,400 units, maintaining its position as the top-selling off-road SUV in China [4] - The WEY brand achieved a record high of 99,600 units sold, a significant increase of 79.36% [4] Research and Development - The total R&D expenditure for the year was 10.38 billion yuan, with a focus on new technologies such as the Hi4 intelligent four-wheel drive system [4] - The company plans to launch the world's first native AI all-power platform, compatible with various power forms, in early 2026 [4] Dividend Distribution - The company proposed a cash dividend of 0.35 yuan per share, totaling approximately 29.95 billion yuan, which accounts for 30.36% of the net profit attributable to shareholders [2]

Core Viewpoint - Great Wall Motors reported a revenue of 222.82 billion yuan for 2025, marking a year-on-year increase of 10.20%, while net profit attributable to shareholders decreased by 22.07% to 9.87 billion yuan [1] Financial Performance - Revenue for 2025 reached 222.82 billion yuan, up 10.20% year-on-year [1] - Net profit attributable to shareholders was 9.87 billion yuan, down 22.07% year-on-year [1] - Non-recurring net profit decreased by 37.5% to 6.06 billion yuan [1] - Accounts receivable stood at 9.60 billion yuan, an increase of 31.98% [1] - The asset-liability ratio was 60.99%, down 4.29% year-on-year [1] Cost Structure - Sales expenses surged by 43.93% to 11.27 billion yuan, attributed to the acceleration of new channel models and increased marketing for new models and technologies [1] - R&D expenses rose by 12.13% to 10.43 billion yuan [1] - Management expenses slightly decreased by 0.83% to 4.75 billion yuan [1] Executive Compensation - Total compensation for directors and senior management was 19.04 million yuan (pre-tax), an increase from 18.01 million yuan in 2024 [1] - Key executives, including the Vice Chairman and CFO, received salary increases [1] Sales Performance - Total vehicle sales for 2025 increased by 7.33% to 1.32 million units [2] - Sales by brand showed growth for Haval, WEY, Great Wall Pickup, and Tank brands, while sales for the Ora brand decreased by 23.68% to 48,300 units [2] Brand Strategy - The Ora brand has completed a strategic transformation, shifting from a focus on "refined women" to targeting "global young urban dwellers," expanding from a pure electric brand to a full-power coverage brand [3] Market Performance - As of March 27, Great Wall Motors' A-shares rose by 0.72% to 20.88 yuan per share, with a total market capitalization of 178.7 billion yuan [4] - The company's Hong Kong shares increased by 0.48% to 12.48 HKD per share, with a market capitalization of 106.8 billion HKD [4]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何 聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 長 城 汽 車 股 份 有 限 公 司 GREAT WALL MOTOR COMPANY LIMITED* （於中華人民共和國註冊成立的股份有限公司） 股份代號：02333（港幣櫃台）及82333（人民幣櫃台） 海外監管公告 此海外監管公告是根據香港聯合交易所有限公司證券上市規則第 13.10B 條發出。以下為長城汽 車股份有限公司於上海證券交易所網站（www.sse.com.cn）所刊發之「長城汽車股份有限公司 2025年年度報告」。 承董事會命 長城汽車股份有限公司 公司秘書 李紅栓 中國河北省保定市，2026 年 3 月27 日 於本公告日期，董事會成員如下： 執行董事： 魏建軍先生、趙國慶先生及李紅栓女士。 职工董事：盧彩娟女士。 非執行董事：何平先生。 獨立非執行董事： 樂英女士、 輝先生及鄒兆麟先生。 * 僅供識別 长城汽车股份有限公司 2025 年年度报告 公司代码：601633 公司简称： ...

Investment Rating - The investment rating for Great Wall Motors is "Buy" and is maintained [5]. Core Views - In February 2026, Great Wall Motors sold 73,000 vehicles, a year-on-year decrease of 6.8% and a month-on-month decrease of 19.6%. Export sales accounted for 58.8% of total sales, with 43,000 vehicles exported. New energy vehicle sales reached 13,000 units, representing 21.0% of total sales [1][9]. - The company is accelerating its global expansion and is committed to transitioning to new energy vehicles. The ongoing new vehicle cycle is expected to drive improvements in sales and performance. Long-term strategies are anticipated to open up growth opportunities, while the shift towards smart technology is expected to enhance profitability across the entire industry chain [1][9]. Summary by Sections Sales Performance - In January and February 2026, total sales reached 163,000 vehicles, a slight year-on-year increase of 2.6%. New energy vehicle sales totaled 31,000 units, a year-on-year decrease of 17.7% [9]. - In February, the breakdown of sales by brand included Haval at 94,173 units (+2.5% YoY), Tank at 24,541 units (-0.3% YoY), WEY at 13,488 units (+55.9% YoY), Ora at 3,320 units (-18.8% YoY), and Great Wall pickups at 27,361 units (-7.5% YoY) [9]. Global Expansion - In February, Great Wall achieved overseas sales of 42,675 units, a year-on-year increase of 37.4% and a month-on-month increase of 6.0%. The overseas sales accounted for 58.8% of total sales, marking an increase of 18.9 percentage points year-on-year [9]. - The company has implemented the "ONE GWM" strategy to accelerate its international presence, covering over 170 countries and regions with more than 1,400 overseas sales channels [9]. Strategic Initiatives - Great Wall is focusing on product, channel, and supply chain adjustments domestically, emphasizing the new energy transition and launching multiple new models across its brands [9]. - The company is investing in smart technology, enhancing its capabilities in data, algorithms, and computing power, which are expected to strengthen its competitive position in the smart vehicle market [9]. Financial Projections - The projected net profits for Great Wall Motors from 2025 to 2027 are 9.91 billion, 14.20 billion, and 17.40 billion yuan, respectively. The corresponding A-share price-to-earnings ratios are expected to be 17.4X, 12.2X, and 9.9X [9].

Investment Rating - The investment rating for the company is "Buy" and is maintained [7] Core Views - In February 2026, the company sold 73,000 vehicles, a year-on-year decrease of 6.8% and a month-on-month decrease of 19.6%. Among these, export sales reached 43,000 vehicles, accounting for 58.8% of total sales. New energy vehicle sales were 13,000 units, representing 21.0% of total sales [2][10] - The company is accelerating its global expansion and is committed to transitioning to new energy vehicles. The ongoing new vehicle cycle is expected to drive improvements in sales and performance. Long-term strategies are set to open up growth opportunities for sales, while the shift towards smart technology is expected to enhance profitability across the entire industry chain [2][10] Summary by Relevant Sections Sales Performance - In January and February 2026, total sales reached 163,000 vehicles, showing a slight year-on-year increase. In February alone, total sales were 73,000 vehicles, with new energy vehicle sales at 13,000 units, down 15.7% year-on-year [10] - The company’s brands showed varied performance: Haval brand sold 94,173 vehicles (+2.5% YoY), Tank brand 24,541 vehicles (-0.3% YoY), WEY brand 13,488 vehicles (+55.9% YoY), Ora brand 3,320 vehicles (-18.8% YoY), and pickup trucks 27,361 vehicles (-7.5% YoY) [10] Global Expansion - In February, the company achieved overseas sales of 42,675 vehicles, a year-on-year increase of 37.4% and a month-on-month increase of 6.0%, with overseas sales accounting for 58.8% of total sales [10] - The company’s "ONE GWM" strategy is accelerating its international presence, covering over 170 countries and regions, with more than 1,400 overseas sales channels established [10] Future Outlook - The company is focusing on product, channel, and supply chain adjustments domestically, with a strong emphasis on new energy vehicle development. The introduction of multiple new models across various brands is expected to contribute significantly to future sales growth [10] - The company is enhancing its technological capabilities in the smart vehicle sector, focusing on data, algorithms, and computing power to strengthen its competitive edge [10] - Profit forecasts for the company indicate net profits of 99.1 billion, 142.0 billion, and 174.0 billion yuan for 2025, 2026, and 2027 respectively, with corresponding A-share P/E ratios of 17.4X, 12.2X, and 9.9X [10]

Group 1 - Great Wall Motors reported a total vehicle sales of 72,594 units in February, a year-on-year decline of 6.79%. Cumulative sales for January and February reached 162,906 units, reflecting a growth of 2.58% despite the impact of the Spring Festival holiday and market off-season [1][2] - The Haval brand maintained stable performance with February sales of 43,660 units, a slight increase of 0.83% year-on-year. Cumulative sales for the first two months were 94,173 units, up 2.52% [1] - Wey brand emerged as a core growth driver for the group, with February sales of 5,615 units, a significant increase of 54.13% year-on-year. Cumulative sales for January and February reached 13,488 units, marking a growth of 55.93% [1] - The Tank brand faced short-term pressure, with February sales of 10,036 units, a year-on-year decline of 14.67%. Cumulative sales for the first two months were 24,541 units, a slight decrease of 0.27% [1] - Great Wall's pickup truck segment maintained its leading position, although sales declined to 12,011 units in February, down 30.42% year-on-year. Cumulative sales for January and February were 27,361 units, a decrease of 7.51% [1] Group 2 - Ora brand is undergoing a transformation period, with February sales of 1,263 units, a year-on-year decline of 33.46%. Cumulative sales for January and February totaled 3,320 units, down 18.85% year-on-year [2]

Core Insights - The core viewpoint of the article highlights the decline in sales and production for Great Wall Motors in February 2026, while also noting significant growth in the WEY brand and strong performance in overseas markets and electric vehicle sales [1] Sales Performance - Total vehicle sales in February 2026 were 64,811 units, a decrease of 13.42% compared to 74,861 units in the same month last year [1] - Cumulative sales for January and February 2026 reached 154,885 units, reflecting a slight decline of 1.58% year-on-year [1] Production Data - Total production in February 2026 was 72,594 units, down 6.79% year-on-year [1] - Cumulative production for January and February 2026 was 162,906 units, showing a year-on-year increase of 2.58% [1] Brand Performance - The WEY brand saw significant growth, with February sales reaching 5,615 units, a substantial increase of 54.13% year-on-year, and production rising by 44.35% [1] - The Haval brand's sales remained relatively stable, with February sales of 43,660 units, a year-on-year increase of 0.83% [1] - Sales for the Great Wall pickup, Ora, and Tank brands experienced a decline, with Ora brand sales dropping significantly by 72.34% [1] Market Highlights - Great Wall Motors reported strong overseas sales in February, with a total of 42,675 units sold [1] - Sales of new energy vehicles in February reached 12,744 units, with cumulative sales for January and February at 30,773 units, indicating the company's ongoing commitment to electrification [1] Additional Notes - The reported production and sales data are unaudited and may be subject to adjustments, with final figures to be confirmed in subsequent audited financial reports [1]