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 ...

Group 1: GAC Group Financial Performance - GAC Group reported a revenue of 96.542 billion yuan in 2025, a year-on-year decrease of 10.43% [1] - The company experienced a loss attributable to equity holders of 8.784 billion yuan, marking a shift from profit to loss compared to the previous year [1] - Basic loss per share was 0.85 yuan [1] Group 2: Sales and Production Performance - In 2025, GAC Group's total vehicle production and sales were 1.7444 million and 1.7215 million units, respectively, representing declines of 8.98% and 14.06% year-on-year [1] - New energy vehicle sales reached 433,600 units, down 4.64% year-on-year, accounting for approximately 25.19% of total sales, an increase of about 2.5 percentage points from the previous year [1] - Sales of energy-efficient vehicles increased by 0.84% year-on-year to 454,600 units, with the proportion of energy-efficient and new energy vehicle sales rising to 51.60%, up about 6 percentage points from the previous year [1] Group 3: Strategic Initiatives and Product Development - GAC Group is implementing integrated reforms through the establishment of shared centers and product commercialization teams, driven by user demand [2] - The company is accelerating product upgrades with the launch of high-end models under the "Wishing Series," including the Wishing S7, Wishing M8, and Wishing S9, focusing on electric and intelligent advancements [2] - GAC Aion brand has achieved continuous month-on-month sales growth for seven months since June 2025, supported by new models and technology advancements [2] Group 4: Joint Ventures and Market Position - GAC Toyota achieved sales of 756,000 units in 2025, a year-on-year increase of 2.44%, with significant sales in high-value models [3] - GAC Toyota's sales of energy-efficient and new energy vehicles reached approximately 470,000 units, a 27.27% increase year-on-year, with a sales proportion of 62.2% [3] - GAC Honda is enhancing local development efforts and advancing intelligent solutions in collaboration with partners, achieving month-on-month sales growth for five consecutive months since August 2025 [3]

Group 1 - GAC Group reported a revenue of 96.542 billion yuan for 2025, a year-on-year decrease of 10.43% [1] - The company recorded a loss attributable to shareholders of 8.784 billion yuan, marking a shift from profit to loss compared to the previous year [1] - Total vehicle production and sales were 1.7444 million and 1.7215 million units, respectively, representing declines of 8.98% and 14.06% year-on-year [1] Group 2 - The sales of new energy vehicles reached 433,600 units, a year-on-year decrease of 4.64%, accounting for approximately 25.19% of total sales, an increase of about 2.5 percentage points from the previous year [1] - The sales of energy-efficient vehicles increased by 0.84% year-on-year to 454,600 units [1] - The proportion of energy-efficient and new energy vehicle sales rose to 51.60%, up approximately 6 percentage points from the previous year [1] Group 3 - GAC's self-owned brands are accelerating product upgrades and innovations, launching high-end models under the "Xiangwang" series, which includes the Xiangwang S7, S8, and S9 [2] - The Aion brand is focusing on both pure electric and range-extended technologies, with new models like AION UT and AION i60, achieving continuous month-on-month sales growth since June 2025 [2] Group 4 - GAC Toyota achieved sales of 756,000 units in 2025, a year-on-year increase of 2.44%, with significant sales in high-value models like Camry and Sienna [3] - The sales of energy-efficient and new energy vehicles reached approximately 470,000 units, a year-on-year increase of 27.27%, with a sales proportion of 62.2% [3] - GAC Honda is enhancing local development efforts and has launched 14 new products in 2025, achieving sales of about 640,000 units, including over 150,000 units exported [3]

Core Insights - The core viewpoint of the articles emphasizes the strategic transformation of GAC Group's Aion BU, focusing on user-centric approaches and comprehensive upgrades in product matrix, brand channels, and service experiences as key to overcoming challenges in the automotive market, particularly in the context of increasing penetration of electric vehicles [1][2][3]. Sales Performance - In January 2026, Aion BU reported a total sales volume of 23,591 vehicles, marking a year-on-year increase of 63.9% despite a general market decline, indicating successful penetration during a traditionally slow sales period [1]. - The narrow passenger vehicle retail market was estimated at approximately 1.8 million units, reflecting a month-on-month decrease of 20.4% and a slight year-on-year increase of 0.3% [1]. Product Strategy - Aion BU's "National Good Car" strategy has shown results, with models like AION UT, RT, and V series achieving annual sales of 50,000 units, and the newly launched AION i60 exceeding 10,000 units in its first month [2][10]. - The product lineup will expand with the introduction of at least five new models in 2026, including the A800 flagship sedan and S600 SUV, aiming for a comprehensive product matrix covering mainstream to high-end segments [10][12]. Organizational Reform - Aion BU has undergone significant organizational restructuring, granting the BU president full operational decision-making authority, which enhances resource allocation and responsiveness to market demands [3][6]. - The management team, consisting of Zhang Xiong, Yang Long, and Feng Yu, has established a collaborative framework that integrates research, marketing, and product development [4][7]. Brand Positioning - Aion BU has adopted a dual-brand strategy with Aion targeting the mainstream market (10-20 million yuan) and Haopai focusing on the high-end segment (20-30 million yuan), effectively avoiding internal competition and enhancing market coverage [8][19]. - The initial success of this strategy is evident, with the Aion i60 achieving over 10,000 sales in its first month, contributing to a significant increase in overall sales [8]. Channel Integration - Aion BU has implemented a deep integration strategy for its dual-brand channels, resulting in 254 sales outlets across 147 cities by January 2026, enhancing resource sharing and customer experience [18][19]. - This integration has led to improved dealer performance, with increased customer conversion rates and a healthier inventory turnover of less than 1.5 months [19]. User Experience and Trust - Aion BU has introduced a "three responsibilities" service commitment to address customer concerns regarding electric vehicle reliability, enhancing user trust [21]. - The company has established a robust charging infrastructure with 24,000 self-operated charging stations and achieved high customer satisfaction ratings in after-sales service [22]. Conclusion - Aion BU's reform practices demonstrate a comprehensive approach to building competitive advantages through agile organization, brand collaboration, efficient channels, and user trust, as evidenced by significant sales growth and initial successes in brand synergy [23].

Core Viewpoint - The article emphasizes the strategic transformation of GAC Group's Aion BU, focusing on user-centric approaches and comprehensive upgrades in product matrix, brand channels, and service experiences, which have led to significant sales growth despite a challenging market environment [1][2][23]. Market Performance - In January 2026, Aion BU achieved a total sales volume of 23,591 vehicles, marking a year-on-year increase of 63.9% [1]. - The narrow passenger car retail market size was estimated at approximately 1.8 million units, reflecting a month-on-month decline of 20.4% but a slight year-on-year increase of 0.3% [1]. Strategic Initiatives - Aion BU is implementing a "National Good Car" strategy, successfully launching models like AION UT, RT, and V series, each achieving annual sales of 50,000 units [2]. - The new model AION i60 became a bestseller with over 10,000 units sold in its first month, showcasing the brand's strong appeal in the personal consumer market [2][10]. Organizational Restructuring - Aion BU has undergone a significant organizational restructuring, granting it full decision-making authority across the value chain, which allows for rapid resource allocation and market responsiveness [4][9]. - The management team, consisting of Zhang Xiong, Yang Long, and Feng Yu, has established a closed-loop system connecting R&D, marketing, and product development [5][7]. Brand Positioning - Aion BU has adopted a dual-brand strategy with Aion targeting the mainstream market (10-20 million yuan) and Haobo focusing on the high-end market (20-30 million yuan), creating a complementary market coverage [9][10]. Product Development - Aion BU plans to launch at least five new models this year, including the A800 flagship sedan and S600 SUV, with over 30 new and updated models expected in the next three years [10][14]. - The A800 will feature Huawei's HarmonyOS and advanced driving systems, targeting tech-savvy elite users, while the N60 will focus on family users with its spacious and energy-efficient design [12][14]. Technological Advancements - Aion BU is pursuing a dual approach of self-research and collaboration, achieving significant advancements in battery technology with energy density reaching 350Wh/kg and drive efficiency exceeding 97% [14]. - Collaborations with Huawei and other tech giants are enhancing Aion BU's capabilities in smart driving and cockpit technology, positioning it for competitive advantages in the intelligent vehicle market [15][14]. Channel Strategy - Aion BU has integrated sales and service channels for both Aion and Haobo brands, covering 147 cities with 254 stores, enhancing resource sharing and reducing internal competition [18][19]. - The new channel strategy has improved dealer performance, with increased customer conversion rates and optimized inventory levels [19]. Customer Trust and Service - Aion BU has introduced a "three responsibilities" service commitment to address customer concerns regarding vehicle quality and safety, enhancing user trust [21][22]. - The company has established a robust charging infrastructure with 24,000 self-operated charging stations and high customer satisfaction ratings in after-sales service [22]. Conclusion - The reforms at Aion BU reflect a shift towards agile organization, brand collaboration, and efficient channels, demonstrating significant sales growth and setting a foundation for future success in the competitive automotive market [23].

Core Viewpoint - GAC Aion has officially launched its new model AION i60, starting at a promotional price of 104,800 yuan, offering both pure electric and range-extended power options [1] Design Features - The AION i60 features a closed front design, with both the range-extended and pure electric versions maintaining similar exterior details, available in six solid colors and two dual-tone options [3] - The rear design differs slightly between the two versions, with the pure electric version showcasing a luminous "AION" badge and the range-extended version featuring a glowing GAC logo, both equipped with a dual-layer taillight design [5] Interior and Technology - Inside, the AION i60 offers three interior color schemes, a floating LCD instrument panel, and a dual-layer dashboard with hollow storage space [5] - The vehicle is equipped with GAC's GSD driving assistance system, supporting features like high-speed Navigate on Autopilot (NDA) and intelligent parking assistance [5] Powertrain Specifications - The pure electric version of the AION i60 is available with two motor power options of 150 kW and 165 kW, paired with three battery capacities of 47.829 kWh, 62.268 kWh, and 75.26 kWh, providing ranges of 400 km, 530 km, and 650 km respectively [5] - The range-extended version features a 1.5-liter range extender with a maximum power of 74 kW and a driving motor with a maximum power of 180 kW, equipped with a 29.165 kWh battery, offering a pure electric range of 210 km and a comprehensive range of up to 1,240 km [6] - Fast charging from 30% to 80% takes only 15 minutes [6]