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分內容而產生或因依賴該等內容而 引致的任何損失承擔任何責任。 GUANGZHOU AUTOMOBILE GROUP CO., LTD. 廣州汽車集團股份有限公司 ( 於中華人民共和國註冊成立的股份有限公司 ) (股份編號: 2238) 海外監管公告 本公告乃廣州汽車集團股份有限公司（「本公司」）按香港聯合交易所有限公司證券上市規 則第 13.10B 條發出。 以下文件乃本公司於二零二六年三月二十七日在中華人民共和國上海證券交易所網頁登載， 僅供參閱。 承董事會命 廣州汽車集團股份有限公司 馮興亞 董事長 中國廣州，二零二六年三月二十七日 於本公告日期，本公司的執行董事為馮興亞及閤先慶，本公司的非執行董事為陳小沐、鄧蕾、 周開荃、王亦偉及洪素麗，以及本公司的獨立非執行董事為趙福全、肖勝方、王克勤及宋鐵波。 1. 《廣州汽車集團股份有限公司 2025 年年度報告摘要》 2. 《廣州汽車集團股份有限公司 2025 年年度報告》 3. 《廣州汽車集團股份有限公司 2025 ...

Core Viewpoint - Japanese car brands are losing market share in Southeast Asia, with a significant decline expected by 2025, as Chinese brands and local manufacturers gain ground [5][11][19]. Market Share Trends - Japanese brands hold about 30% of global sales, with Southeast Asia being a crucial market where their share has historically exceeded 80% [5][6]. - By 2025, Japanese car sales in six ASEAN countries are projected to drop by 22% compared to 2019, while their sales in the U.S. remain stable at around 6 million units [11][13]. - In Thailand, the market share of Japanese cars has decreased from nearly 90% in 2019 to 68% in 2025, while Indonesia's share remains at 81% but is also declining [15][17]. Chinese Brand Growth - Chinese brands have increased their market share in Southeast Asia from less than 1% in 2019 to approximately 12% now, with Thailand reaching 22% and Indonesia at 14% [17]. - In Thailand's top ten car manufacturers for 2025, brands like BYD and MG are showing significant growth rates, with BYD's sales increasing by 47.5% [18]. Local Brand Competition - Local Southeast Asian brands are also capturing market share previously held by Japanese manufacturers, with VinFast in Vietnam surpassing Toyota in sales [19][21]. - Malaysian brands Perodua and Proton account for 60% of the market, with some models being influenced by Chinese technology [21]. Historical Context - Japanese car manufacturers have established a strong presence in Southeast Asia since the 1960s through local assembly and production, which created a long-standing market dominance [23][24]. - The shift in market dynamics is attributed to Southeast Asian countries' desire to develop their own automotive industries and reduce reliance on Japanese brands [27]. Government Support for EVs - Southeast Asian governments are actively promoting electric vehicles (EVs) and providing incentives for local and Chinese manufacturers to establish production facilities [29][30]. - Thailand's EV 3.5 plan offers significant tax reductions and cash subsidies for electric vehicles, encouraging foreign investment [29]. Export and Manufacturing Strategy - China's export strategy has shifted towards high-tech industries, including automotive and battery production, contributing to a record trade surplus [30]. - This aligns with Southeast Asian countries' interest in collaborating with Chinese manufacturers to enhance their automotive capabilities [30][31].

Core Viewpoint - GAC Aion has achieved a remarkable 714.9% year-on-year growth in new car registrations in Hong Kong for 2025, leading the market in this category [1][4]. Group 1: Sales Performance - GAC Aion topped the growth rate chart with 1,809 units sold, followed by Dongfeng Yipai at 602 units (374.0% growth) and Zeekr at 2,970 units (326.1% growth) [2]. - Other notable brands include Xpeng with 1,995 units (308.8% growth) and BYD with 9,751 units (67.6% growth) [2]. Group 2: Strategic Initiatives - The significant sales increase for GAC Aion is attributed to the successful implementation of the "Hong Kong ACTION" strategy, which emphasizes local market penetration and service [4][9]. - GAC Aion has established multiple showrooms and service centers in Hong Kong, including a flagship store in Kowloon Bay and several others in key commercial areas [6][7]. Group 3: Product Offerings - GAC Aion has introduced five models in Hong Kong, including AION Y Plus and AION ES, tailored to meet diverse consumer needs [7][9]. - The AION Y Plus features advanced L2-level intelligent driving assistance and a range of 490 km, catering to family outings [7]. Group 4: Global Expansion - GAC Aion is expanding its global footprint, having entered over 47 countries and regions, with a focus on localizing its operations and services [11]. - The company has established a distribution center in the Netherlands and a factory in Thailand, enhancing its supply chain and service capabilities [12]. Group 5: Future Outlook - GAC Aion aims to replicate its successful operational model from Hong Kong in Southeast Asia and Australia, striving to achieve competitive positioning in new markets [14]. - The company is also preparing to launch the i60 model globally, which has already shown promising sales figures [13].

Core Viewpoint - GAC Aion has achieved significant sales growth in the Hong Kong market, driven by the implementation of the "One GAC 2.0" strategy and localized actions, establishing a strong presence in the electric vehicle sector [2][9]. Sales Performance - GAC Aion's sales in Hong Kong reached 1,809 units, marking a staggering growth rate of 714.9% [1] - Other notable brands include Zeekr with 2,970 units (326.1% growth), Xpeng with 1,995 units (308.8% growth), and BYD with 9,751 units (67.6% growth) [1]. Market Strategy - The "One GAC 2.0" strategy has been upgraded to enhance GAC Aion's global presence, including plans for Thailand and Europe, emphasizing localized actions [2][7]. - GAC Aion has established multiple showrooms and service centers in Hong Kong, including a flagship showroom in Kowloon Bay and several others in key commercial areas [3][4]. Product Offering - GAC Aion offers a diverse range of models in Hong Kong, including AION Y Plus, AION V, and AION UT, catering to various consumer needs [4][6]. - The AION Y Plus features advanced intelligent driving systems and a range of 490 km, making it suitable for family outings [4]. Service and Support - GAC Aion has set up dedicated service centers in Hong Kong, providing comprehensive support including maintenance, digital services, and cross-border assistance [6]. - The company is also enhancing its supply chain and service network to ensure quick response to market demands, leveraging its proximity to Guangzhou [6][8]. Global Expansion - GAC Aion has successfully entered over 47 countries and regions, focusing on a holistic approach that includes product layout, service systems, and energy ecosystems [7]. - The establishment of a distribution center in the Netherlands has improved parts supply speed and after-sales support in Europe [7]. Future Prospects - GAC Aion plans to establish a high-quality manufacturing facility in Hong Kong, further enhancing local production and service capabilities [8]. - The company aims to replicate its successful operational model from Hong Kong in Southeast Asia and Australia, striving to compete effectively in new markets [9].

Group 1 - The core engine driving market growth is the new energy vehicles (NEVs), with exports becoming a significant highlight for sales growth. In the first 11 months of this year, China's automobile export volume reached 6.343 million units, a year-on-year increase of 18.7% [2] - In November alone, automobile exports reached 728,000 units, representing a month-on-month growth of 9.3% and a year-on-year growth of 48.5%, marking the first time monthly exports exceeded 700,000 units [2] - The export of new energy vehicles in the first 11 months reached 2.315 million units, doubling year-on-year, with November exports at 300,000 units, a month-on-month increase of 17.3% and a year-on-year increase of 2.6 times, accounting for 41.2% of total exports [2] Group 2 - The export data reflects a structural change, with pure electric vehicle exports at 1.473 million units, a year-on-year increase of 64.6%, and plug-in hybrid vehicle exports at 842,000 units, a year-on-year increase of 2.4 times [3] - The growth in exports is driven by plug-in hybrids and mixed hybrids replacing pure electric vehicles as new growth points, particularly strong performance in plug-in hybrid pickups [3] - Major exporters include Chery, with 1.199 million units exported, a year-on-year increase of 14.7%, and BYD, with 921,000 units exported, a year-on-year increase of 1.5 times, making it the most significant growth company in exports [3] Group 3 - The trend of "no overseas sales means no future" is evident, with strong growth in exports exceeding expectations. The recognition of Chinese new energy vehicles in overseas markets is increasing, and overseas marketing networks are expanding rapidly [4] - The export model is shifting from a single vehicle export to a "localized production + global service" approach, with leading Chinese automakers planning or establishing overseas production bases and multiple R&D centers globally [4] - GAC Aion announced the completion of its smart factory in Thailand, with an initial annual production capacity of 50,000 units, expected to increase to 100,000 units, enabling the simultaneous production of multiple models [4] Group 4 - The investment in localized production will be the future development direction for Chinese automotive companies as they expand internationally [5]

Group 1 - The core engine driving market growth is the new energy vehicles (NEVs), with exports becoming a significant highlight for sales growth. In the first 11 months of this year, China's automobile export volume reached 6.343 million units, a year-on-year increase of 18.7% [2] - In November alone, automobile exports reached 728,000 units, representing a month-on-month growth of 9.3% and a year-on-year growth of 48.5%, marking the first time monthly exports exceeded 700,000 units [2] - The export of new energy vehicles in the first 11 months reached 2.315 million units, doubling year-on-year, with November exports at 300,000 units, a month-on-month increase of 17.3% and a year-on-year increase of 2.6 times, accounting for 41.2% of total exports [2] Group 2 - The export data reflects a significant structural change, with pure electric vehicle exports at 1.473 million units, a year-on-year increase of 64.6%, and plug-in hybrid vehicle exports at 842,000 units, a year-on-year increase of 2.4 times [3] - The growth in exports is driven by plug-in hybrids and hybrids replacing pure electric vehicles as new growth points, particularly with strong performance in plug-in hybrid pickups [3] - Major exporters include Chery, with 1.199 million units exported, a year-on-year increase of 14.7%, and BYD, with 921,000 units exported, a year-on-year increase of 1.5 times, making it the most significant growth company in exports [3] Group 3 - The trend of "no overseas sales means no survival" is evident, with strong growth in exports exceeding expectations. The recognition of Chinese autonomous new energy vehicles in overseas markets is increasing, and overseas marketing networks are expanding rapidly [4] - The export model is shifting from a single vehicle export to a "localized production + global service" approach, with leading Chinese automakers like SAIC, Changan, GAC, and BYD planning or establishing overseas production bases and multiple global R&D centers [4] Group 4 - GAC Aion announced the completion of its smart factory in Thailand, with an initial annual production capacity of 50,000 units, which will gradually increase to 100,000 units, capable of producing multiple models simultaneously [5] - The investment in local production facilities is seen as the future development direction for Chinese automotive companies going global [5]

Core Viewpoint - GAC Group plans to enter the Japanese electric vehicle (EV) market in the summer of 2026, aiming for 2,000 orders by 2027, amid declining domestic sales and increasing competition in the EV sector [2][4]. Group 1: Market Entry Strategy - GAC will sell its AION brand EVs in Japan through M Mobility Japan, targeting corporate clients initially with two models: AION UT and AION V [4]. - The AION UT will have a starting price of 3.3 million yen (approximately 149,800 yuan), while the AION V will start at 5 million yen (approximately 227,000 yuan) [4]. - GAC's total sales from January to September 2025 fell by 11% year-on-year to 1.18 million units, with AION brand sales down 20% to 180,000 units [4]. Group 2: Competitive Landscape - Other Chinese automakers, including BYD and Geely, have also entered the Japanese market, with BYD achieving 3,508 units sold in Japan from January to November 2023, a 64% increase year-on-year [6][7]. - The overall EV sales in Japan from January to November 2023 were 55,380 units, with EVs accounting for only about 1.5% of new car sales, indicating significant growth potential [7][9]. - Japanese automakers are responding with new EV models, intensifying competition in the market [9].

Group 1 - GAC Aion has appointed Yang Long as the new Vice General Manager and Head of Aion Marketing, succeeding Xiao Yong [2] - Yang Long has extensive experience in market operations, having previously worked at GAC Honda and GAC Mitsubishi, where he led innovative marketing activities [2] - Xiao Yong was instrumental in establishing Aion's marketing system and implementing aggressive strategies that enhanced brand recognition and sales [2] Group 2 - GAC Aion's sales have faced significant declines, with August 2025 sales at 24,318 units, a year-on-year decrease of 23.46%, and cumulative sales for the first eight months down 17.31% [3][4] - The decline in sales is attributed to several factors, including a lack of blockbuster models and over-reliance on the B-end market, which has limited brand image and market penetration [4] - GAC Group is implementing measures such as organizational adjustments and the introduction of hybrid models to address these challenges, with a goal to increase C-end sales to 75% this year [4]

Core Viewpoint - GAC Aion has been recognized as a global unicorn for three consecutive years, ranking 50th in the latest Hurun Research Institute's "2025 Global Unicorn List," and remains the largest new energy vehicle unicorn globally, highlighting its strong position in the competitive new energy vehicle market [1] Advanced Technology Reserve - Advanced technology reserves are identified as the core driving force for sustainable development [2] Safety and Battery Technology - The upcoming GB 38031-2025 battery national standard represents a significant enhancement of safety benchmarks in the industry. GAC Aion's modular battery technology, launched in 2021, meets the new standard's core requirements five years in advance, achieving a record of zero self-ignition among 1.3 million users, showcasing the effectiveness of its self-research system in ensuring safety [3] Intelligent Driving - GAC Aion has addressed the long-standing "technology stratification" issue in the industry by introducing LiDAR technology into mainstream models priced below 150,000 yuan, thus accelerating the popularization of intelligent driving. This move is a result of scaled procurement and self-developed algorithms that lower marginal costs [4] Smart Mobility and Collaboration - GAC Aion is actively working towards the ultimate form of smart mobility, with plans to mass-produce L4 autonomous driving vehicles by the end of 2025 and initiate demonstration operations in major cities by 2026. The collaboration with Didi in the AIDI plan exemplifies its commitment to practical applications rather than mere conceptual showcases [5] Market Performance - GAC Aion's models, such as AION Y and AION RT, have gained significant traction in the market, with AION Y Plus maintaining a strong competitive position in the A-class pure electric SUV sales ranking [6] Charging Network Development - GAC Aion is proactively addressing the industry's charging network challenges by building its own fast-charging stations, with 13,659 stations established by June 2025, and a goal of achieving a density of 10 stations per square kilometer in key urban areas. This approach enhances user experience and redefines the responsibility of charging infrastructure in the industry [7][8] Globalization Strategy - GAC Aion's globalization strategy focuses on building a comprehensive value chain system rather than merely exporting products. The establishment of a smart factory in Indonesia allows for flexible production and local service integration, enhancing user satisfaction and establishing a unified quality standard [9][10] Market Impact - The effectiveness of GAC Aion's strategy is reflected in its market performance, with significant sales growth in Thailand and Indonesia, and a ranking of eighth in global new energy vehicle sales in 2024, solidifying its position as a leading player in the industry [11]

Group 1 - BYD's new model Sea Lion 06EV launched at a price range of 10.98-12.98 million yuan, featuring advanced intelligent driving assistance and a competitive price point for electric sedans [3][5][7] - Chery's new model Wind Cloud A8 introduced at a price range of 7.99-9.39 million yuan, aimed at lowering the purchase threshold with a new 1.5L engine variant [8][9][11] - Leap Motor's new C16 model pre-sale started with a price range of 16.98-18.98 million yuan, offering improved range and comfort features [12][17][19] Group 2 - New AION Y Plus launched with four models priced between 9.98-12.38 million yuan, featuring multiple range options and promotional offers [20][22][24] - The new Range Rover Velar launched with a price range of 568,000-788,000 yuan, featuring optimized configurations and maintaining competitive pricing against rivals [25][27] - Changan Automobile upgraded to a first-level central enterprise, with its automotive business becoming independent following a restructuring [28][30] Group 3 - The Chinese government is establishing mandatory national standards for intelligent driving assistance systems, aiming to enhance industry regulation and safety [34][36][38] - BYD and Xiaoju Charging announced a collaboration to build 10,000 megawatt-level fast charging stations, enhancing the charging infrastructure for electric vehicles [39][40][42] - Li Auto has achieved 2,400 supercharging stations, with plans to expand to 4,000 by the end of 2025, improving charging accessibility for users [41][44][47] Group 4 - Recent fuel price adjustments saw gasoline prices increase by 65 yuan per ton, reflecting ongoing fluctuations in the international oil market [48][50] - The automotive industry is experiencing a shift towards efficiency in charging solutions, with companies focusing on enhancing user experience and market competitiveness [39][51]