Core Insights - The new Tank 500 achieved remarkable market recognition by delivering 1,298 units within just five days of its launch, topping the weekly sales chart for rugged off-road vehicles on the Yiche platform [1][9] - The Tank 500 has disrupted the mid-to-large plug-in hybrid SUV market, indicating a significant shift in competitive dynamics [1][9] Sales Performance - The Tank 500 ranked first in the rugged off-road vehicle sales for the week of August 25-31, 2025, with a price range of 335,000 to 375,000 yuan [2] - The second and third positions were held by Beijing Off-road BJ40 and Leopard 5, with sales of 1,100 and 1,000 units respectively [2] Product Strength - The Tank 500 features advanced hybrid technology, the Hi4-Z power distribution system, which enhances energy management and efficiency, allowing for simultaneous driving and charging [3][11] - The second-generation Hi4-T architecture has improved power output and torque, with peak current increased from 450A to 600A, and power reaching 130kW with torque at 495Nm [5] Luxury and Comfort - The interior of the Tank 500 is designed for luxury, featuring natural Nappa leather seats with heating, ventilation, and massage functions, enhancing comfort during off-road and long-distance travel [5][11] - The vehicle's spacious design and superior NVH (Noise, Vibration, Harshness) technology elevate it from a traditional off-road vehicle to a "mobile luxury cabin" [5][11] Intelligent Features - The Tank 500 is equipped with the third-generation Coffee Pilot Ultra driving assistance system, enabling full-scene intelligent driving capabilities, including automatic lane changes and parking [6][8] - The Coffee OS 3 system, powered by a high-performance 8295 chip, offers seamless interaction and smart features, enhancing the user experience for all family members [8] Market Positioning - The Tank 500's strong market performance signifies a restructuring of the competitive landscape in the 300,000 to 400,000 yuan SUV segment, traditionally dominated by new entrants [9][11] - The vehicle combines attributes of both "new energy" and "rugged off-road," creating a unique value proposition that distinguishes it from mainstream competitors [9][11] Overall Impact - The Tank 500's rapid sales success reflects its precise market positioning and strong brand appeal, reigniting consumer confidence in Chinese luxury off-road SUVs [9][11]

图片来源：长城汽车 当越野车也开始讲智能驾驶、卷续航、拼奢华配置，长城坦克500选择在2025年中期投下一颗"重弹"。 售价33.5万元起，三套动力系统同时上车、全场景NOA首次搭载、冰箱彩电大沙发集齐一身——这不是 哪个新势力的新品发布，而是全新坦克500在交出的答案。 这究竟是越野三件套升级了，还是技术自信终落地？长城这一次，想的不只是卖车。 坦克500的三种动力架构当中，Hi4-T强调强越野能力，2.0T+9HAT+非解耦四驱系统，是对经典燃油越 野形态的插混延展；Hi4-Z主打城市-户外兼容性，搭载三电机混动系统+全球最短纵置三挡混动变速 箱，零百加速4.6s、纯电续航201km、WLTC油耗仅0.76L/100km；3.0T版本则维持传统大排自吸越野用 户的纯粹乐趣。 其中有突破性的，是Hi4-Z所代表的"泛越野"概念：不是为了性能堆料，而是为了把一辆三吨重的越野 车也能开得轻盈、用得便宜、养得起。尤其是在高油价焦虑与城市限行压力之下，坦克希望让越野车也 能变成"日用车"。 但这种路径也存在挑战：Hi4-Z的混动系统高度复杂，功率分流、多档DHT、双电机协同的工作逻辑对 整车调校和耐久性提出极高要求 ...

2025年8月29日，第二十八届成都国际汽车展览会在中国西部国际博览城开幕。长城汽车旗下魏牌、欧拉、哈弗、坦克、长城炮、灵魂六大品牌 联合参展，其中坦克品牌备受瞩目的全新坦克500在展会上惊艳亮相，Hi4-T和Hi4-Z智享版车型凭借硬核实力成为全场焦点。 展会当天，坦克展台现场人流如织，现场气氛热烈，超高的人气和不断的互动热潮，印证了全新坦克500作为"现象级"产品的强大号召力。 上市即爆款，2小时大定突破12000台 8月27日，全新坦克500在都江堰正式上市发布，仅用2小时就实现大定突破12000台的佳绩。在竞争日益激烈的汽车市场中，全新坦克500用实力向人们 证明：价值永远比价格更重要。此次上市的全新坦克500目前共推出四个版本：Hi4-Z智享版37.5万元，Hi4-T智享版35.5万元，Hi4-T基础版33.5万元，3.0T造 境版35.5万元。 | 全新坦克500 Hi4 一智享版 经 全新坦克500 Hi4 金新垣点500 | | --- | | 37.5元元 35.5元元 建议零售价 建议零售价 建议零售价 | | 权益 权益 | | 价值 26000 元高速/城市NOA智慧领航辅助驾驶,车位 ...

" 「怼王」魏建军到场支持，智驾版车型能否扭转局面。 " 作者丨王瑞昊 编辑丨田哲 8月27日傍晚，都江堰碧水潺潺，群山环绕。长城汽车把坦克500上市发布会放在这里，别有深意。都江 堰两千余年来泽被一方，魏建军说，这与长城造车的理念如出一辙——"长期主义、合法合规、品质保 证。" 登台的魏建军没有刻意端着，而是像和老朋友聊心事般开口。他笑称自己是"怼王"，却又补了一句："其 实初衷很简单，就是想为中国汽车行业的发展多做点贡献。" 在这样一段带着温度的讲话之后，全场灯光聚焦，坦克500智驾版缓缓登场，正式宣布上市。 坦克500共推出两个版本，分别是坦克500 Hi4-Z智享版和坦克500 Hi4-T智享版。 坦克500 Hi4-Z智享版售价37.5万元，新车搭载长城汽车泛越野系统Hi4-Z，主要为城市通勤设计，搭载 了一块59.05kWh三元锂电池，WLTC纯电续航达 201km，综合续航达1096km。 坦克500 Hi4-T智享版售价35.5万元，新车搭载长城汽车强越野系统Hi4-T，此次Hi4-T升级到了第二 代，峰值功率提升至130kW，峰值扭矩提升至495Nm，此外动力电池也得到了升级，快充时间提升至 ...

"这次全新坦克500最大的更新升级点是智能化体验部分，这也是整个坦克品牌努力的方向。"长城汽车 董事长魏建军在发布会现场表示，长城汽车希望硬派越野车型不仅能陪着用户跋山涉水，也能满足智能 化需求。 近日，在坦克品牌"开启越野新时代"发布会上，全新坦克500智享版正式开启预售。新车定位为"全场景 智能豪华越野SUV"，推出全新坦克500 Hi4-T智享版、全新坦克500 Hi4-Z智享版，预售价分别为36.00 万元、38.88万元。价值26000元高速/城市NOA智慧领航辅助驾驶，车位到车位领航辅助；价值10000元 17.3英寸后排娱乐屏；价值5000元智能冷暖双用冰箱，三大智能配置全系标配。 《中国经营报》记者了解到，全新坦克500搭载长城汽车第三代智能辅助驾驶系统Coffee Pilot Ultra，实 现了"车位到车位"的全链路智能辅助驾驶，从起点到终点全程驾驶无忧。SEE端到端大模型以及车载高 算力多传感器融合方案，适配全场景智能辅助驾驶，不论是园区内部道路、城市拥堵路、城市快速路、 高速公路，全新坦克500都能从容应对，全链路无断点，打破了传统智能辅助驾驶"城区不敢用，高速不 好用，停车还得自己来 ...

新车定位为"全场景智能豪华越野SUV"，全新坦克500的造型设计灵感来自中国古典建筑，借鉴传统建 筑中的斗拱举折、宫灯丹陛，将"中式新豪华"的中正大气与磅礴霸气的体量感合二为一，搭配高贵稀缺 的"敦煌绿"全新车色，为中大型SUV市场注入新动能。不仅如此，全新坦克500在焕新外观之下还隐藏 着Coffee Pilot Ultra+Coffee OS 3，长城汽车第三代智能辅助驾驶系统+长城汽车全栈自研的第三代智慧 空间系统。 "随着智能化和冰箱彩电大沙发的上车，坦克500不再仅是一台越野车，而是一台覆盖全场景、满足全需 求、稳定可靠优雅经典的划时代产品！"这是全新坦克500开启预售发布会上，坦克品牌执行副总经理谷 玉坤定义自家产品时说的一句豪言。 在坦克品牌1-7月销量下跌8%的背景下，这款新车虽然不属于该品牌走量产品，却对保住利润意义重 大。 8月11日，全新坦克500开启预售。其中坦克500Hi4-Z智享版预售价格为38.88万元，Hi4-T智享版预售价 格为36万元。 把"冰箱彩电大沙发"都搬上车后，坦克500 就能突出重围？恐怕，这并不容易。 （文章来源：南方都市报） 其中，第三代智能辅助驾驶系统Cof ...

Core Insights - Great Wall Motors reported significant growth in Q2 2023, achieving record sales, revenue, and net profit figures [1] - The company aims for high-quality development through a comprehensive product matrix and global expansion strategy by 2025 [1][2] Sales and Financial Performance - In Q2 2023, Great Wall Motors sold 313,000 vehicles, a year-on-year increase of 10.07% and a quarter-on-quarter increase of 21.87% [1] - Revenue for the same period reached 52.348 billion yuan, reflecting a year-on-year growth of 7.78% and a quarter-on-quarter growth of 30.81% [1] - Net profit stood at 4.586 billion yuan, marking a year-on-year increase of 19.46% and a remarkable quarter-on-quarter increase of 161.91% [1] Strategic Initiatives - The company is focusing on a long-term strategy that includes a full-scenario and full-power product matrix, alongside advancements in intelligence and global expansion [1] - Great Wall Motors is implementing the ONE GWM brand strategy and an "ecological overseas" strategy to enhance market share [1] Technological Advancements - In the field of intelligence, Great Wall Motors has established an end-to-end intelligent driving model and a new AI data intelligence system, achieving industry-leading levels in core technology areas [2] - The new intelligent driving system, Coffee Pilot Ultra, and the Coffee OS 3 smart space system have received positive user feedback, with Coffee Pilot Plus enabling full-scenario NOA without high-precision maps [2] Global Expansion - Great Wall Motors has expanded its overseas sales channels to over 1,400, transitioning from "product export" to "ecological export" [2] - Recent engagements include a meeting between the company's chairman and the Brazilian president, discussing further development in Brazil, and receiving recognition in Australia and Chile for its products [2]

Investment Rating - The report assigns an "Outperform" rating to Great Wall Motor, expecting a relative return exceeding 10% over the next 12-18 months [20]. Core Viewpoints - Great Wall Motor emphasizes a long-term strategy focused on building a high-value vehicle portfolio for global expansion, prioritizing product and service reliability over rapid growth [2][7]. - The company aims to deepen its multi-powertrain platform strategy, promoting "one vehicle, multiple powertrains" to cater to diverse market needs, especially in regions with limited electricity infrastructure [2][8]. - In 2024, Great Wall anticipates vehicle sales of 1.23 million units, a 0.4% year-on-year increase, with revenue projected at RMB 202.2 billion, reflecting a 16.7% growth, and net profit expected to reach RMB 12.69 billion, marking an 80.8% increase [2][7]. - The company's globalization strategy focuses on "ecological overseas expansion," with over 1,400 overseas sales channels and cumulative exports surpassing 1.9 million units, targeting over one million units in overseas sales by 2030 [2][8]. Summary by Sections Company Strategy - Great Wall Motor reaffirms its commitment to long-termism, aiming for high-quality market share and product reliability, even at the cost of slower growth [2][7]. - The company plans to launch several key models in 2025, including the Tank SUV for urban markets, alongside expanding its product matrix with WEY, Haval, ORA, and pickup series [2][8]. Performance Metrics - In 2024, Great Wall expects to achieve vehicle sales of 1.23 million units, a slight increase of 0.4% year-on-year, with revenue projected at RMB 202.2 billion, up 16.7%, and net profit anticipated at RMB 12.69 billion, an increase of 80.8% [2][7]. Brand Development - WEY, as a key brand in Great Wall's premium strategy, has shown significant growth, with May sales reaching 6,161 units, a 115.3% year-on-year increase, and cumulative deliveries of 24,297 units in the first five months, up 44% [3][9]. - The brand is enhancing its product and design competitiveness through increased R&D and marketing investments, and is expected to drive growth through product diversification and ecological globalization [3][10].

[Table_InvestInfo] 投资评级 优于大市 维持 股票数据 | 04[Table_StockInfo 月 01日收盘价（元）] | 25.70 | | --- | --- | | 52 周股价波动（元） | 21.55-33.34 | | 总股本/流通 A 股（百万股） | 8563/6194 | | 总市值/流通市值（百万元） | 220060/218775 | 相关研究 [Table_MainInfo] 公司研究/汽车与零配件/汽车 证券研究报告 长城汽车（601633）公司年报点评 2025 年 04 月 01 日 [Table_ReportInfo] 《24 年业绩稳健向好，产品结构优化、出口 驱动增长》2025.01.17 《经营稳健，24Q3 单车收入同环比提升》 2024.10.28 《产品结构优化、海外销量增长，双轮驱动盈 利能力提升》2024.09.03 市场表现 [Table_QuoteInfo] -14.08% -4.08% 5.92% 15.92% 25.92% 2024/4 2024/7 2024/10 2025/1 长城汽车 海通综指 | 沪深 300 对比 | 1M ...

Financial Performance - In 2024, the company achieved total revenue of 202.20 billion, a year-on-year increase of 16.73% compared to 2023 [2] - The net profit attributable to shareholders reached 12.69 billion, marking an 80.76% increase from the previous year [2] - The net profit after deducting non-recurring gains and losses was 9.74 billion, up 101.40% year-on-year [2] - The net cash flow from operating activities was 2.78 billion, reflecting a 56.49% increase compared to 2023 [2] Sales and Market Performance - The company sold a total of 1.23 million vehicles in 2024, a slight increase of 0.37% year-on-year [4] - New energy vehicle sales reached 322,200 units, representing a year-on-year growth of 25.65%, with a domestic penetration rate of 43.99% [3] - Overseas sales reached 454,100 units, a significant increase of 44.61%, setting a new historical high [5] Product and Technological Advancements - The company launched the next-generation intelligent driving system Coffee Pilot Ultra and the Coffee OS 3 smart space system in 2024 [2] - The RISC-V automotive-grade MCU chip, Zijing M100, was successfully developed, enhancing the company's technological capabilities [2] - The company established a comprehensive AI data intelligence system and a supercomputing center, positioning itself at the forefront of the industry in terms of algorithms, data, and computing power [2]