GREAT WALL MOTOR CO ADR - GWLLY STOCK NEWS

GWM showcased over 10 new products from its vehicle brands at the 24th Chengdu Motor Show on August 29, 2021. Notable entries included the HAVAL H6S, a coupe SUV with advanced technology and a sporty design. The HAVAL DAGOU also gained attention, achieving over 10,000 sales in its first month in China. Furthermore, TANK presented the TANK 400 and TANK 500 SUVs, while ORA introduced the retro-styled ORA Balei Mao. GWM's booth drew considerable interest, highlighting the company's commitment to expanding its global presence and enhancing product offerings.

GWM has acquired Daimler's factory in Iracemapolis, Brazil, as part of its strategy to expand in South America. The agreement, finalized on August 18, 2021, involves transferring ownership of the factory's land, buildings, and machinery. This acquisition is set to strengthen GWM's manufacturing capabilities, creating nearly 2,000 jobs while enhancing the local automotive industry. GWM aims to cater to local consumer preferences and aims for a global vehicle sales target of 4 million by 2025, following a 176.2% increase in international sales in 2021.

GWM has unveiled the TANK "X," the first model following the independence of the TANK brand. This SUV, produced at Jingmen Vehicle Production Base, is designed by industry veteran Andrew Collinson. Featuring a new design language of business luxury, TANK "X" boasts advanced off-road capabilities with its 3.0GDIT+9AT powertrain, delivering 260 kW and peak torque of 500 N m. Set to debut at the Chengdu Motor Show in August 2021, TANK "X" aims to redefine luxury off-road vehicles and enhance the off-road experience for users globally.

GWM hosted its 2021 Overseas Distributors Online Conference on August 9, highlighting its growth strategy amid COVID-19 and global chip shortages. From January to July 2021, GWM's sales surpassed 700,000 units (up 49.9% YoY), with overseas sales reaching 74,000 units (up 176.2% YoY). The company aims for global production and sales of 4 million units and overseas sales of 1 million by 2025. GWM is focused on product innovation, electrification, and establishing a world-renowned brand, emphasizing user operation to enhance customer experience.

The 2021 GWM POER Lure International Championship concluded successfully on July 16, drawing significant media attention with over 350 media outlets covering the event. GWM POER has established itself as a popular choice for outdoor enthusiasts, offering features like an open trunk and off-road capabilities ideal for towing and transporting gear. The vehicle's performance was validated in rigorous conditions during various global adventures. GWM POER has garnered numerous awards, including 'Best Pickup of the Year' in Chile, and aims to continuously innovate and enhance user experience.

The 3rd Gen HAVAL H6 HEV, the first hybrid vehicle on the L.E.M.O.N. platform, debuted in Bangkok, Thailand, on July 16, 2021. This model features a 1.5T turbocharged engine and the 'L.E.M.O.N. DHT' technology, achieving fuel efficiency of 4.9L/100km. It is 8%-10% lighter than its predecessor while improving acceleration, braking, and safety through high-strength materials. The HAVAL DAGOU, another model on the platform, enhances passenger safety with improved collision resistance. The L.E.M.O.N. platform signifies GWM's commitment to product innovation and global market engagement.

GWM has achieved a significant milestone, with the production of its 10 millionth engine from HYCET, becoming the first Chinese auto brand to do so. HYCET plans to introduce 23 new engine products across various fuel types, including hydrogen and synthetic fuels, over the next three years. Highlighting innovation, the GW4C20B 2.0T gasoline engine has won multiple awards and showcases advanced technologies. Key future developments include a hybrid engine with thermal efficiency exceeding 45% and dedicated synthetic fuel and hydrogen engines expected in 2024 and 2025, respectively.

GWM announced plans to invest RMB 100 billion over the next five years in R&D focused on new energy vehicles (NEVs) and smart technologies. Chairman Jack Wei highlighted advancements like the Dayu power battery and L.E.M.O.N. hybrid DHT, showcasing significant safety and fuel efficiency improvements. The company aims to advance its COFIS Intelligence system and enhance user experience with features such as a 360-degree rotating seat. With over 10,000 technical patents and nearly 15,000 R&D staff, GWM seeks to realize its 2025 Strategy for sustainable growth.

GWM's 2025 strategy aims to achieve global sales of 4 million vehicles, with 80% being new energy vehicles. The company anticipates operating revenue exceeding 600 billion CNY and plans to invest 100 billion CNY in R&D over the next five years. Chairman Jack Wei emphasized the need for Chinese auto brands to innovate and lead in new energy. GWM is focusing on global R&D, a user-centered operation model, and aims to expand its R&D personnel to over 30,000 by 2023, with 10,000 in software development.