Investment Rating - The investment rating for Great Wall Motors is "Buy" and is maintained [8] Core Views - In July 2025, Great Wall Motors achieved sales of 104,372 units, representing a year-on-year increase of 14.3% but a month-on-month decrease of 5.7%. Export sales accounted for 41,088 units, or 39.4% of total sales, while new energy vehicle sales reached 35,000 units, making up 38.2% of total passenger vehicle 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 both sales and performance. Long-term strategies are set to open up growth opportunities, while the shift towards smart technology is anticipated to enhance profitability across the entire industry chain [2][10] Summary by Sections Sales Performance - In July 2025, total sales were 104,372 units, with domestic sales at 63,000 units (up 19.2% YoY, down 10.4% MoM) and new energy sales at 35,000 units (up 43.3% YoY, down 5.0% MoM). Cumulatively, from January to July 2025, total sales reached 674,000 units, a 3.6% increase YoY, with new energy sales at 195,000 units (up 24.6% YoY) [10][11] - By brand, Haval sold 56,221 units (up 6.2% YoY), Tank sold 20,020 units (up 7.2% YoY), WEY sold 10,045 units (up 263.3% YoY), Ora sold 4,300 units (down 10.0% YoY), and Great Wall Pickup sold 13,772 units (up 14.5% YoY) [10][11] Global Expansion and Strategy - Great Wall Motors is implementing its "ONE GWM" strategy to accelerate overseas expansion, covering over 170 countries and regions with more than 1,400 sales channels. The company has established three complete vehicle production bases in Thailand and Brazil, and several KD factories in Ecuador and Pakistan, which are expected to boost sales growth [10][11] - The company is focusing on smart technology, enhancing its capabilities in data, algorithms, and computing power, which are seen as core competitive advantages in the smart vehicle era [10][11] Financial Projections - The projected net profits for Great Wall Motors from 2025 to 2027 are 141.3 billion, 170.7 billion, and 214.8 billion yuan, respectively. The corresponding A-share price-to-earnings ratios are expected to be 13.1X, 10.9X, and 8.6X, while the Hong Kong stock price-to-earnings ratios are projected to be 7.0X, 5.8X, and 4.6X [10][11]

Core Viewpoint - Great Wall Motors reported a significant increase in July sales, driven by the explosive growth of the WEY brand and stable performance of the Haval brand, while the company continues to expand its presence in the new energy and overseas markets [2][4]. Sales Performance - Total sales in July reached 104,372 units, a year-on-year increase of 14.34%, with the Haval brand contributing 56,221 units, up 6.19% [2][3]. - WEY brand sales surged to 10,045 units, marking a staggering increase of 263.29% year-on-year, with cumulative sales for the first seven months reaching 44,539 units, up 96.8% [2][3]. - Sales of Great Wall pickups in July were 13,772 units, reflecting a 14.5% increase, while cumulative sales for the year reached 110,000 units, up 5.83% [2][3]. - The Tank brand sold 20,020 units in July, a 7.16% increase, with cumulative sales slightly down by 8.19% to 123,680 units [2][3]. - The Ora brand experienced a decline in July sales to 4,300 units, down 10.04%, with a significant year-to-date drop of 50.15% to 18,208 units, indicating a need for strategic adjustments [2][3]. New Energy and Export Markets - New energy vehicle sales in July totaled 34,593 units, accounting for 33.1% of total sales, with cumulative sales for the first seven months at 195,007 units, indicating sustained growth momentum [3]. - Exports in July reached 41,088 units, with a total of 238,746 units exported in the first seven months, showcasing the effectiveness of the company's global expansion strategy [3].

Core Viewpoint - Great Wall Motors announced its production and sales figures for July 2025, showing a mixed performance across different brands and models [2][3]. Group 1: Sales Performance - Haval brand sold 56,221 units in July 2025, a 6.19% increase compared to 52,944 units in July 2024. Year-to-date sales reached 377,648 units, up 7.08% from 352,682 units last year [3]. - WEY brand experienced significant growth, with sales of 10,045 units in July 2025, a 263.29% increase from 2,765 units in July 2024. Year-to-date sales were 44,539 units, a 96.80% increase from 22,632 units last year [3]. - Great Wall Pickup sold 13,772 units in July 2025, a 14.50% increase from 12,028 units in July 2024. Year-to-date sales reached 110,000 units, up 5.83% from 103,944 units last year [3]. - Ora brand saw a decline in sales, with 4,300 units sold in July 2025, a decrease of 10.04% from 4,780 units in July 2024. Year-to-date sales were 18,208 units, down 50.15% from 36,529 units last year [3]. - Tank brand sold 20,020 units in July 2025, a 7.16% increase from 18,682 units in July 2024. Year-to-date sales were 123,680 units, down 8.19% from 134,720 units last year [3]. - Total sales for the company reached 104,372 units in July 2025, a 14.34% increase from 91,285 units in July 2024. Year-to-date total sales were 674,161 units, up 3.57% from 650,954 units last year [3]. Group 2: Production Performance - Haval brand produced 51,663 units in July 2025, a 5.05% increase from 49,179 units in July 2024. Year-to-date production was 369,079 units, up 3.30% from 357,282 units last year [3]. - WEY brand's production reached 10,420 units in July 2025, a 431.63% increase from 1,960 units in July 2024. Year-to-date production was 46,337 units, up 106.51% from 22,438 units last year [3]. - Great Wall Pickup's production was 13,736 units in July 2025, a 9.37% increase from 12,559 units in July 2024. Year-to-date production reached 110,702 units, up 9.63% from 100,980 units last year [3]. - Ora brand produced 3,544 units in July 2025, a decrease of 3.01% from 3,654 units in July 2024. Year-to-date production was 17,951 units, down 47.04% from 33,895 units last year [3]. - Tank brand's production was 21,425 units in July 2025, an 18.32% increase from 18,108 units in July 2024. Year-to-date production reached 127,750 units, down 2.97% from 131,661 units last year [3]. - Total production for the company was 101,045 units in July 2025, an 18.22% increase from 85,470 units in July 2024. Year-to-date total production was 672,226 units, up 4.00% from 646,352 units last year [3].

证券代码：601633 证券简称：长城汽车 公告编号：2025-102 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 7 月产销快报 | 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 | 56,221 | 52,944 | 6.19 | 377,648 | 352,682 | 7.08 | 51,663 | 49,179 | 5.05 | 369,079 | 357,282 | 3.30 | | WEY品牌 | 10,045 | 2,765 | 263.29 | 44,539 | 22,632 | 96.80 | ...

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7月產銷快報」。 承董事會命 長城汽車股份有限公司 聯席公司秘書 李紅栓 中國河北省保定市，2025 8月1日 於本公告日期 ，董事會成員如下： 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 執行董事：魏建軍先生 、趙國慶先生及李紅栓女士。 非執行董事：何平先生。 獨立非執行董事：樂英女士、范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：2025-102 转债 ...

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 務請注意，上述產銷量數字未經審核，亦未經本公司審計師確認，或會予以調整並有待最終確認。本公司刊發財務業績後，股東及潛在投資者務必詳閱。 本公告乃承本公司董事會之命而刊發，各董事願對本公告所載資料之準確性承擔法律責任。 承董事會 命 長 城 汽 車 股 份 有 限 公 司 2025年7月產銷快報 本公告乃由長城汽車股份有限公司（ ...

Core Viewpoint - The announcement from Great Wall Motors provides detailed production and sales figures for June 2025, highlighting both monthly and year-to-date performance across various brands [2][3]. Production and Sales Summary - Total sales for June 2025 reached 110,690 units, representing a 12.86% increase compared to June 2024's 98,080 units [3]. - Year-to-date sales for 2025 stand at 569,789 units, a slight increase of 1.81% from 559,669 units in the same period of 2024 [3]. Brand Performance - **Haval Brand**: - June sales were 62,396 units, up 30.73% from 47,729 units in June 2024 [3]. - Year-to-date sales reached 321,427 units, a 7.24% increase from 299,738 units [3]. - **WEY Brand**: - June sales surged to 10,197 units, a remarkable increase of 246.95% from 2,939 units in June 2024 [3]. - Year-to-date sales totaled 34,494 units, up 73.62% from 19,867 units [3]. - **Great Wall Pickup**: - June sales were 13,213 units, down 13.36% from 15,251 units in June 2024 [3]. - Year-to-date sales reached 96,228 units, a 4.69% increase from 91,916 units [3]. - **Ora Brand**: - June sales fell to 3,283 units, a decrease of 45.55% from 6,029 units in June 2024 [3]. - Year-to-date sales were 13,908 units, down 56.19% from 31,749 units [3]. - **Tank Brand**: - June sales were 21,571 units, down 17.22% from 26,059 units in June 2024 [3]. - Year-to-date sales totaled 103,660 units, a decrease of 10.67% from 116,038 units [3]. - **Others**: - June sales for other models were 30 units, down 58.90% from 73 units in June 2024 [3]. - Year-to-date sales were 72 units, down 80.06% from 361 units [3].

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 | ...

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6月產銷快報」。 承董事會命 長城汽車股份有限公司 聯席公司秘書 李紅栓 中國河北省保定市，2025 7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。 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 非執行董事：何平先生。 獨立非執行董事：樂英女士、范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：2025-073 转债 ...

自願公告 2025年6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。 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 ） 本公司董事會謹此宣佈，本公司於2025年6月產銷量詳細如下(單位:台)： | 車型 | | | 銷量 | | | | 產量 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | -- ...