Earnings release
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- 1 - Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. GUANGZHOU AUTOMOBILE GROUP CO., LTD. ʮ ̡ (a joint stock company incorporated in the People’s Republic of China with limited liability) (Stock Code: 2238) OVERSEAS REGULATORY ANNOUNCEMENT 2025 THIRD QUARTERLY REPORT This third quarterly report is published by Guangzhou Automobile Group Co., Ltd. (the “Company”) pursuant to Rules 13.09 and 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. The third quarterly results of the Company and its subsidiaries contained in this report have been prepared under the China Accounting Standards for Business Enterprises and are unaudited. The original text of this report is in Chinese. IMPORTANT NOTICE (I) The board of directors (the “Board”), the directors and senior management of the Company warrant the truthfulness, accuracy and completeness of the contents contained herein, that there are no false representations or misleading statements contained in or material omissions from this quarterly report, and they jointly and severally accept responsibility. (II) All directors of the Company attended the Board meeting approving this quarterly report. (III) The person in charge of the Company, the person in charge of accounting function and the manager of the accounting department (Accounting Chief), hereby warrant the truthfulness, accuracy and completeness of the financial statements contained in this quarterly report. (IV) The third quarterly report of the Company is unaudited.
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- 2 - I. MAJOR FINANCIAL DATA (I) Major accounting data and financial indicators Unit: Yuan Currency: RMB Item Reporting period Increase/ decrease during the reporting period as compared with the same period of last year (%) From the beginning of the year to the end of the reporting period Increase/ decrease from the beginning of the year to the end of the reporting period as compared with the same period of last year (%) Revenue from operations 24,106,135,304 -14.62 66,271,787,952 -10.49 Total profit -2,333,982,644 -13.04 -6,259,218,635 -599.88 Net profit attributable to shareholders of the listed company -1,773,586,337 -27.02 -4,311,837,015 -3,691.33 Net profit attributable to shareholders of the listed company after deduction of non-recurring gain or loss -1,829,805,200 -19.42 -4,775,067,936 -155.30 Net cash flow from operating activities N/A N/A -10,825,899,676 -1,201.20 Basic earnings per share (Yuan/share) -0.17 -30.77 -0.42 -4,300.00 Diluted earnings per share (Yuan/share) -0.17 -30.77 -0.42 -4,300.00 Weighted average return on net assets (%) -1.59 Decreased by 0.39 percentage point -3.84 Decreased by 3.94 percentage points As at the end of the reporting period As at the end of last year Increase/decrease as at the end of the reporting period as compared with the end of last year (%) Total assets 212,908,898,045 232,458,340,666 -8.41 Owners’ equity attributable to shareholders of the listed company 110,439,090,905 114,354,080,990 -3.42 Note: The “reporting period” refers to the three-month period from the beginning of the quarter to the end of the quarter (i.e. from 1 July 2025 to 30 September 2025).
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- 3 - (II) Non-recurring profit and loss items and amounts Unit: Yuan Currency: RMB Non-recurring profit and loss items Amount for the reporting period Amount from the beginning of the year to the end of the reporting period Gains/losses on disposal of non-current assets, inclusive of provision for assets impairment write-off -2,231,431 326,701,852 Government grants recognised in profit or loss for the current period, except for those closely related to the Company’s normal operation subject to certain standards in compliance with government policies and regulations, having a lasting impact on the Company’s profits and losses 82,629,071 206,909,709 Gains/losses from changes in fair value arising from holding financial assets and financial liabilities held by non- financial enterprises and gains/losses arising from the disposal of financial assets and financial liabilities, other than effective hedging business relating to the ordinary operations of the Company -7,035,390 11,446,359 Gains/losses from external entrusted loans -571,929 0 Profits/losses from debt restructuring 11,601,865 14,549,948 Other non-operating income and expense save as stated above 82,214,047 58,914,099 Less: Impact on income tax 41,246,393 130,847,039 Impact on minority interests (after tax) 69,140,977 24,444,007 Total 56,218,863 463,230,921 The Company shall provide explanations for non-recurring profit and loss items that involve significant amounts not specified in Explanatory Notice for Information Disclosure of Companies with Public Offering of Securities No.1 – Non-recurring Gains/Losses (ʮක೯ ʮѓୋ1ฦू), as well as for non-recurring profit and loss items defined as recurring profit and loss items specified in Explanatory Notice for Information Disclosure of Companies with Public Offering of Securities No.1 – Non-recurring Gains/Losses (ʮ ѓୋ1ڢ ฦू). ½ Applicable ✓ Not applicable
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- 4 - (III) Changes in major accounting data and financial indicators and the reasons thereof Item Percentage change (%) Main reasons Total profit during the reporting period -13.04 Mainly due to the combined effect of the fierce competition in the domestic automobile industry and the rapid upgrading of demand structure, which led to a decline in automobile sales volume and profit, and the year-on-year decrease in total profit. Net profit attributable to shareholders of the listed company during the reporting period -27.02 Mainly due to the combined effect of the fierce competition in the domestic automobile industry and the rapid upgrading of demand structure, which led to a decline in automobile sales volume and profit, and the year-on-year decrease in net profit. Net profit attributable to shareholders of the listed company after deduction of non-recurring gain or loss during the reporting period -19.42 Mainly due to the combined effect of the fierce competition in the domestic automobile industry and the rapid upgrading of demand structure, which led to a decline in automobile sales volume and profit, and the year-on-year decrease in net profit. Basic earnings per share during the reporting period -30.77 Mainly due to the combined effect of the year-on-year decrease of net profit during the reporting period Diluted earnings per share during the reporting period -30.77 Mainly due to the combined effect of the year-on-year decrease in net profit during the reporting period Weighted average return on net assets during the reporting period Decreased by 0.39 percentage point Mainly due to the combined effect of the year-on-year decrease in net profit during the reporting period
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- 5 - Item Percentage change (%) Main reasons Total profit from the beginning of the year to the end of the reporting period -599.88 Mainly due to the combined effect of the fierce competition in the domestic automobile industry and the rapid upgrading of demand structure, which led to a decline in automobile sales volume and profit, as well as the valuation premium of Chenqi Technology Limited (Stock Code: 9680) (“ON TIME”) for Hong Kong listing during the same period last year, and the year-on-year decrease in total profit. Net profit attributable to shareholders of the listed company from the beginning of the year to the end of the reporting period -3,691.33 Mainly due to the combined effect of the fierce competition in the domestic automobile industry and the rapid upgrading of demand structure, which led to a decline in automobile sales volume and profit, as well as the valuation premium of ON TIME for Hong Kong listing during the same period last year, and the year-on-year decrease in net profit. Net profit attributable to shareholders of the listed company after deduction of non-recurring gain or loss from the beginning of the year to the end of the reporting period -155.30 Mainly due to the combined effect of the fierce competition in the domestic automobile industry and the rapid upgrading of demand structure, which led to a decline in automobile sales volume and profit, and the year-on-year decrease in net profit.
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- 6 - Item Percentage change (%) Main reasons Net cash flow from operating activities from the beginning of the year to the end of the reporting period -1,201.20 Mainly due to the combined effect of a decline in automobile sales volume and a decrease in cash received from the sale of goods from the beginning of the year to the end of the reporting period. Basic earnings per share from the beginning of the year to the end of the reporting period -4,300.00 Mainly due to the combined effect of the year-on-year decrease in net profit from the beginning of the year to the end of the reporting period. Diluted earnings per share from the beginning of the year to the end of the reporting period -4,300.00 Mainly due to the combined effect of the year-on-year decrease in net profit from the beginning of the year to the end of the reporting period. Weighted average return on net assets from the beginning of the year to the end of the reporting period Decreased by 3.94 percentage points Mainly due to the combined effect of the year-on-year decrease in net profit from the beginning of the year to the end of the reporting period.
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- 7 - II. INFORMATION ON SHAREHOLDERS (I) Table of total number of holders of ordinary shares, number of holders of preference shares with voting rights restored and shareholdings of the top 10 shareholders Unit: share Total number of holders of ordinary shares as at the end of the reporting period 127,566 Total number of holders of preference shares with voting rights restored as at the end of the reporting period (if any) N/A Particulars of shareholdings of the top 10 shareholders (excluding shares lent through refinancing) Name of shareholder Nature of shareholder Number of shares held Shareholding percentage (%) Number of shares subject to trading moratorium Pledged, tagged or frozen Status of shares Number Guangzhou Automobile Industry Group Co., Ltd. (Note 1) State-owned legal person 5,508,160,069 54.02 0 Nil 0 HKSCC NOMINEES LIMITED (Note 2) Overseas legal person 2,810,131,291 27.56 0 Unknown – Guangzhou Huiyin Tianyue Equity Investment Fund Management Co., Ltd. State-owned legal person 396,030,558 3.88 0 Pledged 62,095,610 Guangzhou Industrial Investment and Capital Operation Holding Group Ltd. State-owned legal person 143,973,553 1.41 0 Nil 0 Guangzhou Finance Holdings Assets Management Co., Ltd. – GFHAM Wealth Management Select No.3 Private Investment Fund Other 140,738,735 1.38 0 Nil 0 HONG Zejun Domestic natural person 131,000,000 1.28 0 Nil 0 Hong Kong Securities Clearing Company Limited Overseas legal person 72,226,052 0.71 0 Nil 0 Guangzhou Light Industry & Trade Group Co., Ltd. State-owned legal person 51,084,691 0.50 0 Nil 0 Industrial and Commercial Bank of China Limited – Huatai-Pinebridge CSI 300 Exchange Traded Open-ended Index Securities Investment Fund Other 37,758,589 0.37 0 Nil 0 China Construction Bank Corporation – E FUND CSI 300 Trading Open Index Sponsored Securities Investment Fund Other 27,261,871 0.27 0 Nil 0
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- 8 - Particulars of shareholdings of the top 10 holders of shares not subject to trading moratorium (excluding shares lent through refinancing) Name of shareholder Number of tradable shares not subject to trading moratorium Class of shares and number Class of shares Number Guangzhou Automobile Industry Group Co., Ltd. (Note 1) 5,508,160,069 A shares, H shares 5,508,160,069 HKSCC NOMINEES LIMITED (Note 2) 2,810,131,291 H shares 2,810,131,291 Guangzhou Huiyin Tianyue Equity Investment Fund Management Co., Ltd. 396,030,558 A shares 396,030,558 Guangzhou Industrial Investment and Capital Operation Holding Group Ltd. 143,973,553 A shares 143,973,553 Guangzhou Finance Holdings Assets Management Co., Ltd. – GFHAM Wealth Management Select No.3 Private Investment Fund 140,738,735 A shares 140,738,735 HONG Zejun 131,000,000 A shares 131,000,000 Hong Kong Securities Clearing Company Limited 72,226,052 A shares 72,226,052 Guangzhou Light Industry & Trade Group Co., Ltd. 51,084,691 A shares 51,084,691 Industrial and Commercial Bank of China Limited – Huatai-Pinebridge CSI 300 Exchange Traded Open-ended Index Securities Investment Fund 37,758,589 A shares 37,758,589 China Construction Bank Corporation – E FUND CSI 300 Trading Open Index Sponsored Securities Investment Fund 27,261,871 A shares 27,261,871 Related-party relationship or concerted party relationship among the above shareholders Guangzhou Automobile Industry Group Co., Ltd., the largest shareholder of the Company, is not related to any of the above shareholders, nor is it a party acting in concert with any of them, and it is not known to the Company whether other shareholders are related to each other or whether they are parties acting in concert. Description of involvement in securities margin financing, short selling and refinancing (if any) by the top 10 shareholders and the top 10 holders of shares not subject to trading moratorium Guangzhou Huiyin Tianyue Equity Investment Fund Management Co., Ltd. holds 325,157,948 shares of the Company through credit account, and HONG Zejun holds 131,000,000 shares of the Company through credit account. Note 1: Guangzhou Automobile Industry Group Co., Ltd. holds 5,206,932,069 A shares of the Company in total, representing approximately 70.52% of the A shares of the Company. At the same time, it holds 301,228,000 H shares of the Company through Southbound Trading of Shanghai – Hong Kong Stock Connect and its wholly-owned subsidiary in Hong Kong, Guangzhou Auto Group (Hong Kong) Limited, representing approximately 10.71% of the H shares of the Company. The total number of A shares and H shares of the Company held by Guangzhou Automobile Industry Group Co., Ltd. is therefore 5,508,160,069 shares, representing approximately 54.02% of the total share capital of the Company; Note 2: H shares held by HKSCC NOMINEES LIMITED are held on behalf of a number of clients. H shares of the Company held by Guangzhou Auto Group (Hong Kong) Limited are also registered in trust with HKSCC NOMINEES LIMITED.
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- 9 - The particulars of shareholders holding more than 5% of the shares, the top 10 shareholders and the top 10 holders of tradable shares not subject to trading moratorium participating in refinancing and share lending ½ Applicable ✓ Not applicable Changes in the top 10 shareholders and the top 10 holders of tradable shares not subject to trading moratorium from the previous period due to lending/repayment of refinancing ½ Applicable ✓ Not applicable III. OTHER REMINDERS Other important information about the Company’s operations during the reporting period that should be brought to the attention of investors ½ Applicable ✓ Not applicable IV. QUARTERLY FINANCIAL STATEMENTS (I) Type of audit opinion ½ Applicable ✓ Not applicable
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- 10 - (II) Financial statements Consolidated Balance Sheet 30 September 2025 Prepared by: Guangzhou Automobile Group Co., Ltd. Unit: Yuan Currency: RMB Type of audit: unaudited Item 30 September 2025 31 December 2024 Current assets: Monetary fund 38,001,751,859 51,623,670,169 Trading financial assets 2,509,828,708 2,558,787,228 Bills receivables 182,922,838 80,265,496 Trade receivables 3,557,909,037 3,352,938,658 Financing receivables 1,367,571,104 1,506,478,940 Prepayments 2,403,025,960 1,507,211,222 Other receivables 2,647,219,563 2,779,719,512 Including: Interests receivable 0 0 Dividends receivable 29,254,166 122,726,889 Inventories 14,462,443,977 15,688,476,438 Including: data resources 0 0 Contract assets 34,719,380 18,789,530 Assets held for sale 1,931,866 1,360,783 Non-current assets due within one year 7,200,222,594 8,992,492,511 Other current assets 25,571,528,795 23,915,858,779 Total current assets 97,941,075,681 112,026,049,266
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- 11 - Item 30 September 2025 31 December 2024 Non-current assets: Loans and advances granted 2,567,068,988 307,738,079 Debt investments 153,051,236 173,961,134 Other debt investments 6,348,594,010 8,865,651,775 Long-term receivables 20,983,501 6,812,683,071 Long-term equity investments 35,426,537,652 30,099,842,301 Other investments in equity instruments 3,937,348,403 2,850,614,591 Other non-current financial assets 2,695,868,711 1,972,041,643 Investment properties 788,989,632 984,352,878 Fixed assets 25,887,886,541 25,251,591,046 Construction in progress 1,412,051,548 2,766,246,086 Right-of-use assets 2,133,058,970 2,145,646,319 Intangible assets 20,825,516,710 19,352,307,504 Including: data resources 0 0 Development expenses 3,832,783,007 4,916,498,880 Including: data resources 0 0 Goodwill 71,240,786 71,111,856 Long-term deferred expenditures 441,366,721 1,078,108,192 Deferred income tax assets 6,385,664,200 5,777,101,199 Other non-current assets 2,039,811,748 7,006,794,846 Total non-current assets 114,967,822,364 120,432,291,400 Total assets 212,908,898,045 232,458,340,666
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- 12 - Item 30 September 2025 31 December 2024 Current liabilities: Short-term borrowings 14,710,006,085 16,577,457,427 Bills payables 16,921,136,489 14,066,761,740 Trade payables 16,759,449,068 21,429,012,845 Receipts in advance 0 0 Contractual liabilities 3,427,140,620 2,573,114,733 Deposit taking and deposit in interbank market 6,798,507,849 5,395,428,538 Staff remuneration payable 2,087,080,267 4,124,271,845 Taxes payable 1,196,393,801 1,487,108,422 Other payables 12,107,624,081 13,201,810,076 Including: Interests payable 0 0 Dividends payable 4,324,334 0 Non-current liabilities due within one year 2,183,706,143 7,986,825,500 Other current liabilities 3,648,798,321 3,614,689,654 Total current liabilities 79,839,842,724 90,456,480,780
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- 13 - Item 30 September 2025 31 December 2024 Non-current liabilities: Long-term borrowings 7,727,277,529 11,514,170,281 Debentures payable 505,255,479 0 Including: Preference shares 0 0 Perpetual bonds 0 0 Lease liabilities 1,806,523,106 1,727,522,415 Long-term payables 14,143,238 0 Long-term staff remuneration payable 110,031,887 113,414,236 Estimated liabilities 1,648,751,001 1,326,752,410 Deferred income 2,970,248,909 2,880,270,452 Deferred income tax liabilities 656,623,404 579,743,779 Other non-current liabilities 1,201,658,857 2,083,404,252 Total non-current liabilities 16,640,513,410 20,225,277,825 Total liabilities 96,480,356,134 110,681,758,605
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- 14 - Item 30 September 2025 31 December 2024 Owners’ equity (or shareholders’ equity): Paid-in capital (or share capital) 10,197,065,900 10,341,518,250 Other equity instruments 0 0 Including: Preference shares 0 0 Perpetual bonds 0 0 Capital reserve 40,816,189,370 41,158,832,412 Less: Treasury stock 110,999,747 518,497,000 Other comprehensive income 430,365,837 36,504,532 Special reserve 109,882,634 76,879,421 Surplus reserve 5,498,401,539 5,498,401,539 General risk provision 681,695,756 681,695,756 Undistributed profit 52,816,489,616 57,078,746,080 Total owners’ equity (or shareholders’ equity) attributable to the parent company 110,439,090,905 114,354,080,990 Minority interests 5,989,451,006 7,422,501,071 Total owners’ equity (or shareholders’ equity) 116,428,541,911 121,776,582,061 Total liabilities and owners’ equity (or shareholders’ equity) 212,908,898,045 232,458,340,666 Person in charge of the Company: Principal accounting responsible person: Manager of the accounting department: FENG Xingya WANG Dan DONG Yamin
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- 15 - Consolidated Income Statement From January to September 2025 Prepared by: Guangzhou Automobile Group Co., Ltd. Unit: Yuan Currency: RMB Type of audit: unaudited Item In the first three quarters of 2025 (January to September) In the first three quarters of 2024 (January to September) I. Total revenue from operations 66,928,657,602 74,740,864,914 Including: Revenue from operations 66,271,787,952 74,040,140,204 Interest income 656,869,650 700,724,710 II. Total cost of operations 77,299,795,888 80,531,225,036 Including: Cost of operations 67,707,257,102 70,016,683,066 Interest expenses 92,498,611 111,259,561 Taxes and surcharges 1,584,738,151 1,915,639,539 Selling expenses 3,891,474,884 3,949,348,445 Management expenses 3,274,356,488 3,211,483,350 Research and development expenses 1,004,732,498 1,033,664,530 Financial expenses -255,261,846 293,146,545 Including: Interest expenses 448,792,660 470,722,657 Interest income 323,335,558 469,610,804 Add: Other income 622,016,061 1,460,856,946 Gains on investment (loss is represented by “-”) 3,507,260,606 3,643,892,683 Including: Gains from investment in associated companies and joint ventures 2,875,084,922 2,269,046,187 Income from derecognition of financial assets at amortised cost 0 0 Foreign exchange gains (loss is represented by “-”) 0 0 Net gains from hedging exposure (loss is represented by “-”) 0 0 Gains on change in fair value (loss is represented by “-”) 382,996,150 110,280,789 Impairment loss of credit (loss is represented by “-”) 26,826,952 -317,728,505 Impairment loss of assets (loss is represented by “-”) -511,217,535 -158,998,825 Gains on disposal of assets (loss is represented by “-”) 14,864,641 57,731,724 III. Operating profit (loss is represented by “-”) -6,328,391,411 -994,325,310 Add: Non-operating income 92,132,060 120,284,310 Less: Non-operating expenses 22,959,284 20,290,586 IV. Total profit (total loss is represented by “-”) -6,259,218,635 -894,331,586 Less: Income tax expenses -488,760,821 -401,157,202
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- 16 - Item In the first three quarters of 2025 (January to September) In the first three quarters of 2024 (January to September) V. Net profit (net loss is represented by “-”) -5,770,457,814 -493,174,384 (I) Classified by continuity of operations 1. Net profit from continuing operations (net loss is represented by “-”) -5,770,457,814 -493,174,384 2. Net profit from discontinued operations (net loss is represented by “-”) 0 0 (II) Classified by ownership of the equity 1. Net profit attributable to shareholders of the parent company (net loss is represented by “-”) -4,311,837,015 120,062,416 2. Profit or loss of minority interests (net loss is represented by “-”) -1,458,620,800 -613,236,800 VI. Other comprehensive income (net of tax) 402,949,142 -145,335,350 (I) Other comprehensive income (net of tax) attributable to owners of the parent company 393,861,305 -137,448,386 1. Other comprehensive income that cannot be reclassified into profit or loss 339,083,183 -146,236,440 (1) Changes arising from the remeasurement of defined benefit plans – – (2) Other comprehensive income not to be reclassified to profit or loss under the equity method – – (3) Changes in fair value arising from other equity instrument investments 339,083,183 -146,236,440 (4) Changes in fair value arising from corporate credit risk – – 2. Other comprehensive income to be reclassified into profit or loss 54,778,122 8,788,054 (1) Other comprehensive income to be reclassified into profit or loss under the equity method – – (2) Change in fair value of other debt investments -4,945,570 -2,386,345 (3) Amount of financial assets reclassified into other comprehensive income – – (4) Credit impairment provision for other debt instruments 51,736,479 31,008,211 (5) Reserve for cash flow hedging – – (6) Exchange differences on foreign currency financial statements adjustments 7,987,213 -19,833,812 (7) Others – – (II) Other comprehensive income (net of tax) attributable to minority interests 9,087,837 -7,886,964 VII. Total comprehensive income -5,367,508,673 -638,509,734 (I) Total comprehensive income attributable to the owners of the parent company -3,917,975,710 -17,385,970 (II) Total comprehensive income attributable to minority interests -1,449,532,963 -621,123,764 VIII. Earnings per share (I) Basic earnings per share (Yuan/share) -0.42 0.01 (II) Diluted earnings per share (Yuan/share) -0.42 0.01 Person in charge of the Company: Principal accounting responsible person: Manager of the accounting department: FENG Xingya WANG Dan DONG Yamin
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- 17 - Consolidated Cash Flow Statement From January to September 2025 Prepared by: Guangzhou Automobile Group Co., Ltd. Unit: Yuan Currency: RMB Type of audit: unaudited Item In the first three quarters of 2025 (January to September) In the first three quarters of 2024 (January to September) I. Cash flow generated from operating activities: Cash received from sales of goods and rendering labour services 83,730,131,363 94,594,733,519 Net increase in customer deposits and interbank deposits 1,311,354,615 -2,678,781,760 Net increase in borrowings from People’s Bank of China (“PBOC”) -928,824,306 1,334,324,306 Cash received from interest, handling fees and commissions 486,121,399 733,009,475 Tax rebates received 1,830,540,819 1,234,883,602 Other cash received from operating activities 5,114,996,424 5,207,164,224 Sub-total of cash inflows from operating activities 91,544,320,314 100,425,333,366 Cash paid for goods and labour services 77,443,656,154 78,890,286,961 Net increase in customer loans and advances -1,231,597,706 -3,457,805,300 Net increase in deposit in PBOC and interbank deposits 163,923,775 432,223,464 Cash paid for interest, handling fees and commissions 89,281,304 114,639,003 Cash paid to and on behalf of employees 8,472,858,297 8,145,972,440 Tax payments 4,227,654,515 5,334,896,697 Other cash paid for operating activities 13,204,443,651 9,982,022,829 Sub-total of cash outflows from operating activities 102,370,219,990 99,442,236,094 Net cash flow from operating activities -10,825,899,676 983,097,272
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- 18 - Item In the first three quarters of 2025 (January to September) In the first three quarters of 2024 (January to September) II. Cash flow generated from investing activities: Cash received from redemption of investments 53,179,674,884 15,345,613,285 Cash received from gains on investment 3,936,108,600 11,595,410,576 Net cash received from disposal of fixed assets, intangible assets and other long-term assets 55,482,749 99,590,033 Net cash received from disposal of subsidiaries and other operating entities 224,998,034 0 Other cash received from investing activities 1,095,860,272 430,976,485 Sub-total of cash inflows from investing activities 58,492,124,539 27,471,590,379 Cash paid for purchase and construction of fixed assets, intangible assets and other long-term assets 6,235,050,137 7,143,851,799 Cash paid for investment 57,794,050,138 29,118,384,073 Net cash paid for acquiring subsidiaries and other operating entities 22,320,000 0 Other cash paid for investing activities 626,975,044 517,037,559 Sub-total of cash outflows from investing activities 64,678,395,319 36,779,273,431 Net cash flow generated from investing activities -6,186,270,780 –9,307,683,052
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- 19 - Item In the first three quarters of 2025 (January to September) In the first three quarters of 2024 (January to September) III. Cash flow generated from financing activities: Cash received from capital contributions 31,380,000 182,664,486 Including: Cash received by subsidiaries from minority shareholders’ investment 31,380,000 182,601,975 Cash received from borrowings 30,913,342,734 34,294,433,427 Other cash received from financing activities 3,837,253,772 155,936,380 Sub-total of cash inflows from financing activities 34,781,976,506 34,633,034,293 Cash repayments of borrowings 27,588,050,736 26,555,483,966 Cash paid for distribution of dividends, profits or repayment of interest 647,334,799 1,943,586,537 Including: Dividends and profit paid by subsidiaries to minority shareholders 89,761,449 65,000,269 Other cash paid for financing activities 4,438,301,871 4,349,262,361 Sub-total of cash outflows from financing activities 32,673,687,406 32,848,332,864 Net cash flow generated from financing activities 2,108,289,100 1,784,701,429 IV. Effects of changes in exchange rate on cash and cash equivalents 129,437,244 217,354,098 V. Net increase in cash and cash equivalents -14,774,444,112 –6,322,530,253 Add: Balance of cash and cash equivalents at the beginning of the reporting period 47,284,203,201 45,864,791,306 VI. Balance of cash and cash equivalents at the end of the reporting period 32,509,759,089 39,542,261,053 Person in charge of the Company: Principal accounting responsible person: Manager of the accounting department: FENG Xingya WANG Dan DONG Yamin
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- 20 - Adjustment to financial statements at the beginning of the year since 2025 due to application of new accounting standards or interpretations of accounting standards for the first time ½ Applicable ✓ Not applicable By order of the Board Guangzhou Automobile Group Co., Ltd. FENG Xingya Chairman Guangzhou, the PRC, 24 October 2025 As at the date of this announcement, the executive director of the Company is FENG Xingya, the non- executive directors of the Company are CHEN Xiaomu, DENG Lei, ZHOU Kaiquan, WANG Yiwei and HONG Suli, and the independent non-executive directors of the Company are ZHAO Fuquan, XIAO Shengfang, WONG Hakkun and SONG Tiebo.