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2026年中期业绩 2026 Interim Results 2026年8月 Aug. 2026
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本介绍片由长城汽车股份有限公司（「公司」）编制，只作企业通讯和一般参考之用。公司无意在任何司 法管辖区使用本介绍片作为出售和招揽他人购买公司任何证券的要约，或用作投资公司证券的决定基础。 未经咨询专业意见的情况下，不得使用或依赖此等全部资料。本介绍纯属简报性质，并非完整地描述公 司、公司业务、目前或过去的经营业绩或业务未来前景。 公司不会为本介绍片发出任何明文或隐含的保证或声明。公司特此强调，不会对任何人使用或依赖本介绍 片的任何资料（财务或其它资料）承担任何责任。 This presentation is prepared by Great Wall Motor Company Limited (the “Company”) and is solely for the purpose of corporate communication and general reference only. The presentation is not intended as an offer to sell, or to solicit an offer to buy or form any basis of investment decision for any class of securities of the Company in any jurisdiction. All such information should not be used or relied on without professional advice. The presentation is a brief summary in nature and does not purport to be a complete description of the Company, its business, its current or historical operating results or its future prospects. This presentation is provided without any warranty or representation of any kind, either expressed or implied. The Company specifically disclaims all responsibilities in respect of any use or reliance of any information, whether financial or otherwise, contained in this presentation. 声明Disclaimer
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第一部分 行业概况 Section 1 Industry Overview
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行业概况——2026年上半年全球销量前十国家 数据来源：MarkLines/ Source: MarkLines Industry Overview——2026 H1 Top 10 Countries in Global Auto Sales Volume 15.02 8.11 3.21 2.39 1.62 1.42 1.30 1.06 1.03 0.97 中国 美国 印度 日本 德国 巴西 英国 法国 意大利 加拿大 5% -4% -3% 19% 2% 18% 8% 1% 8% -1% 2026年上半年，全球汽车累计销量为4,703.8万辆，同比下滑0.4%。中国汽车销量高居第一，美国、印度汽车销 量分别位列第二、三位。 In 2026 H1, total global auto sales amounted to 47,038,000 units, representing a 0.4% YOY decrease. China’s auto sales ranked the first, followed by the US and India. 印度、巴西、欧洲增长迅速，巴西涨幅18%；德国、英国、法国、意大利等欧盟主力市场，依靠新能源快速渗透、 电动化普及带动市场走高。 India, Brazil and Europe saw rapid growth, with Brazil’s sales increased by 18%; Germany, the UK, France, Italy and other major EU markets continued to grow, driven by rapid NEV penetration and the popularization of electric vehicles. 单位：百万台 2026年上半年全球汽车销量前十的国家及同比增速 2026 H1 Top 10 Countries in Global Auto Sales Volume and YOY Growth Unit: million units China The US India Japan Germany Brazil The UK France Italy Canada
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行业概况——2026年上半年中国市场月度销量及增速 数据来源：中国汽车工业协会/ Source: CAAM Industry Overview——2026 H1 China Auto Market Monthly Sales Volume and Growth Rate 单位：万台 2026年上半年，国内汽车内需承压走弱，但汽车出口规模大幅攀升对冲行业压力，整体市场销量达到1,501.7万台，同比下降4.1%。 166.5 113.3 202.4 162.5 170 177.3 68.1 67.2 87.5 90.1 93 103.7 -3.2% -15.2% -0.5% -2.5% -2.1% -3.2% -16.0% -14.0% -12.0% -10.0% -8.0% -6.0% -4.0% -2.0% 0.0% 0 50 100 150 200 250 300 350 1 月 2 月 3 月 4 月 5 月 6 月 内销 出口 同比增速 2026年上半年中国汽车市场月度销量及同比增速 In 2026 H1, domestic auto demand was under pressure and weakened, but auto exports surged significantly, easing industry pressure. Overall market sales reached 15,017,000 units, representing a 4.1% YOY decrease. 进入二季度，市场走势边际企稳，月度销量同比跌幅维持窄幅波动。 Entering Q2, the market trend exhibited marginal stability, with monthly sales volume declining within a narrow range. In 2026 H1, China’s auto market monthly sales volume and YOY growth Unit: 10,000 units Jan Feb Mar Apr May Jun Domestic sales Exports YOY growth rate
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行业概况——中国新能源汽车渗透率情况 数据来源：中国汽车工业协会/ Source: CAAM Industry Overview——China’s NEV Penetration Rate 单位：千台 近年来，新能源汽车市场渗透率逐年提升，2026年上半年新能源市场渗透率为49.6%，同比提升5.3个百分点。 1,588 2,804 5,141 5,881 2,457 5,467 6,685 7,719 10,737 4,987 5.9% 9.3% 16.4% 17.1% 16.4% 20.3% 22.2% 24.6% 31.2% 33.2% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 0 2000 4000 6000 8000 10000 12000 14000 16000 18000 2022 2023 2024 2025 2026H1 插电式混合动力销量 纯电销量 插电式混合动力渗透率 纯电渗透率 中国新能源汽车渗透率结构 2026年上半年，纯电渗透率占比进一步扩大至33.2%，插电式混合动力渗透率微幅下滑至16.4%。 In recent years, the NEV market penetration rate has been accelerating over the years. In 2026 H1, the NEV market penetration rate was 49.6%, increasing by 5.3 percentage points YOY. In 2026 H1, pure electric vehicle penetration rate further increased to 33.2%, while PHEV penetration rate slightly decreasedto 16.4%. China’s NEV penetration structureUnit: ’000 units PHEV sales volume EV sales volume PHEV penetration rate EV penetration rate
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3.1 4.9 5.9 7.1 5.1 11.6% 16.3% 18.6% 20.6% 33.9% 21.8% 24.5% 21.9% 36.8% 46.2% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0% 45.0% 50.0% 0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 2022 2023 2024 2025 2026H1 出口汽车销量 占中国汽车总销量比 出口新能源车占比 行业概况——中国汽车出口量情况 数据来源：中国汽车工业协会/ Source: CAAM Industry Overview——Industry Overview——China Automobile Exports 2026年上半年，中国汽车出口销量达509.6万辆， 同比增长65.3%，占比持续攀升至33.9%。 单位：百万台 3.1 4.0 4.9 中国汽车出口规模及结构变化 因上半年出口大幅超预期 ，中汽协上调全年汽 车出口目标至1,000万辆。 2026年上半年 ，新能源汽车出口占比提升至 46.2%。 In 2026 H1, China’s auto exports increased by 65.3% YOY to 5,096,000 units, and their share of total sales continued to rise to 33.9%. As H1 exports far exceeded expectations, CAAM has raised full-year auto export target to 10 million units. In 2026 H1, NEV exports’ share of total exports increased to 46.2%. China’s auto export volume and change in export structure Unit: million units Auto export sales volume As a percentage of China’s total auto sales volume NEV exports’ share of total exports
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行业概况——乘用车销售结构 运动型多用途汽车 SUV 60.6% 轿车 Sedan 34.5% 多用途汽车 MPV 3.8% 交叉型乘用车 Crossover 1.1% 770.6万辆 438.9万辆 48.9万辆 13.7万辆 8.0% 7.4% 0.4% 0.2% 数据来源：中国汽车工业协会/ Source: CAAM 2026年上半年，SUV品类发展迅速，市占率同比提升8个百分点，轿车品类市占率同比下滑7.4个百分点，其余市场相对稳定。 Industry Overview—— Passenger Vehicle Sales Composition In 2026 H1, the SUV segment grew rapidly, with its market share rising by 8% points YOY. The sedan market share dropped by 7.4 % points YOY, but all other market segments exhibited relatively stable performance. 7,706,000 units 4,389,000 units 489,000 units 137,000 units
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60.8 28.8 10.3 8.9 7.9 46.7% 22.2% 7.9% 6.8% 6.1% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0% 45.0% 50.0% 0.0 10.0 20.0 30.0 40.0 50.0 60.0 70.0 坦克 品牌A 品牌B 品牌C 哈弗 国内越野SUV市场前五品牌 26H1销量 市占率 行业概况——越野SUV市场 数据来源：保险数/ Source: Vehicle insurance data Industry Overview——Off-road SUV Market 2026年上半年，越野SUV市场头部效应显著， 坦克品牌以 46.7%市占率位列第一 ，哈弗品 牌位列第五，市占率为6.1%，双品牌共同深 化细分市场优势。 单位：千台 In 2026 H1, off-road SUV market concentration became more obvious. TANK ranked first with a market share of 46.7%, Haval ranked the fifth, with a market share of 6.1%. The two brands together strengthened competitive edge in their respective market segment. Top 5 brands in domestic off-road SUV market Unit: ’000 units TANK Brand A Brand B Brand C Haval 26 H1 Sales volume Market share
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2.6 1.9 1.1 0.9 0.9 19.5% 14.4% 8.0% 6.9% 6.5% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 0.0 0.5 1.0 1.5 2.0 2.5 3.0 长城炮 风骏 金刚炮 国产A 国产B 国内皮卡2026年上半年销量前五车型 销量 市占率 15.2 15.6 15.5 12.1 15.8 18.9 -15.1% 0.2% 1.7% 49.9% 30.1% 19.8% -20.0% -10.0% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 0.0 5.0 10.0 15.0 20.0 25.0 30.0 35.0 40.0 2024H1 2025H1 2026H1 中国皮卡市场销量 国内销量 出口销量 国内同比增速 出口同比增速 行业概况——皮卡市场 数据来源：中国汽车工业协会/ Source: CAAM Industry Overview——Pick-up Truck Market 近年来，皮卡销量持续增长，2026年上半年皮卡销量34.3万台，同比增长9.4%，其中出口量超内销，达18.9万台，同比增速19.8%。 单位：万台单位：万台 数据来源：保险数/ Source: Vehicle insurance data 长城皮卡车型稳居国内皮卡车型销量前三，持续巩固细分市场头部竞争地位。 Sales volume of pickup trucks continued to increase in recent years. In 2026 H1, pickup truck sales rose by 9.4% YOY to 343,000 units, of which 189,000 units were exports, far exceeding domestic sales while sustaining a 19.8% YOY growth. GWM Pickup models ranked among the top 3 in domestic pickup truck sales, continuing to solidify its leading position in this market segment. Sales volume of China’s pickup truck market Unit: 10,000 units Unit: 10,000 units Domestic sales volume Export sales volume Domestic sales YOY growth rate Export sales YOY growth rate 2026 H1 top 5 domestic pickup models in terms of sales volume GWM Cannon Wingle King Kong Cannon Domestic Model A Domestic Model B Sales volume Market share
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第二部分 公司经营概况 Section 2 Operations Review
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公司经营概况——销量情况 Operations Review——Sales Volume 51.9 55.5 56.9 57.6 2023 H1 2024 H1 2025 H1 2026 H1 总销量 2026年1-6月，长城汽车实现新车销量57.58万辆，同比 增长1.22 %，销量规模稳步攀升。 2026年1-6月，海外累计销售新车28.90万辆，同比增长 45.46%，海外销量占比持续提升，成为重要增长引擎。 单位：万台 单位：万台 12.3 20.0 19.9 28.9 23.8% 36.0% 34.9% 50.2% 0% 10% 20% 30% 40% 50% 60% 0.0 5.0 10.0 15.0 20.0 25.0 30.0 35.0 2023 H1 2024 H1 2025 H1 2026 H1 海外销量及占比 海外销量 海外占比 In 2026 H1, Great Wall Motor’s sales volume of new vehicles amounted to 575,800 units, representing a YOY increase of 1.22%. Sales volume continued to grow steadily. In 2026 H1，total overseas new vehicle sales volume amounted to 289,000 units, representing a YOY increase of 45.46%.The overseas sales proportion continued to rise, becoming a core growth engine. Unit: 10,000 units Unit: 10,000 units Total sales volume Overseas sales volume and its share of total sales Overseas sales volume Overseas sales volume share of total sales
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94 92 104 86 88 90 92 94 96 98 100 102 104 106 2024 H1 2025 H1 2026 H1 经营活动产生的现金流量净额 公司经营概况——业绩亮点 Operations Review——Results Highlights 420 501 647 - 100 200 300 400 500 600 700 2024 H1 2025 H1 2026 H1 现金储备 单位：亿元 单位：亿元 182 170 188 3.3 3.0 3.3 2.8 2.9 2.9 3.0 3.0 3.1 3.1 3.2 3.2 3.3 3.3 3.4 2024 H1 2025 H1 2026 H1 160 165 170 175 180 185 190 毛利润及单车毛利表现 毛利润（亿元） 单车毛利（万元） 上半年营业收入、单车收入创同期历史新高 19.9% 18.4% 18.4% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 2024 H1 2025 H1 2026 H1 毛利率 914 923 1,021 16.5 16.2 17.7 15.0 15.5 16.0 16.5 17.0 17.5 18.0 860 880 900 920 940 960 980 1,000 1,020 1,040 2024 H1 2025 H1 2026 H1 营业总收入与单车收入表现 营业总收入（亿元） 单车收入（万元） 注：包含货币资金和理财产品 In 2026 H1, operating revenue and revenue per vehicle reached record highs for the corresponding period Total Operating Revenue and Revenue per Vehicle Performance Total Operating Revenue (RMB 100 million) Revenue per Vehicle (RMB 10,000) Gross Profit and Gross Profit per Vehicle Gross Margin Gross Profit (RMB 100 million) Gross Profit per Vehicle (RMB 10,000) Net Cash Flow from Operating Activities Cash reserves Unit: 100 million yuan Unit: 100 million yuan Note: Including cash and bank balances and wealth management products
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451 570 0 100 200 300 400 500 600 2026 Q1 2026 Q2 营业总收入 83 104 0 20 40 60 80 100 120 2026 Q1 2026 Q2 毛利润 公司经营概况——业绩亮点——季度环比表现 Operations Review——Results Highlights ——Quarter-on-Quarter (QoQ) Performance 单位：亿元 单位：亿元 单位：万元 单位：亿元 9 15 5 11 0 8 16 2026 Q1 2026 Q2 净利润及扣非后归母净利润 净利润 扣非后净利润 多项指标刷新单季历史表现 17.0 18.4 3.1 3.4 0 2 4 6 8 10 12 14 16 18 20 2026 Q1 2026 Q2 单车收入及单车毛利 单车收入 单车毛利 Multiple metrics set new single-quarter records Total Operating Revenue Revenue per Vehicle and Gross Profit per Vehicle Gross Profit per VehicleRevenue per Vehicle Gross Profit Net Profit and Net Profit after Extraordinary Items Net Profit Net Profit after Extraordinary Items Unit: RMB 100 million Unit: RMB 100 million Unit: RMB 100 million Unit：RMB 10,000
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公司经营概况——财务信息 资产负债表 Balance Sheet 单位：人民币百万元 RMB Mn 截至2026.6.30止 As at 30 Jun 2026 截至2025.12.31止 As at 31 Dec 2025 截至2024.12.31止 As at 31 Dec 2024 变动 Change (%) 流动资产 Current assets 140,568 137,647 133,538 2.1 其中： Including: 货币资金 Cash and bank balances 30,641 28,846 30,769 6.2 应收账款 Accounts receivable 9,253 9,599 7,273 -3.6 应收款项融资 Receivables financing 17,838 23,848 41,100 -25.2 非流动资产 Non-current assets 89,422 87,641 84,182 2.0 资产总值 Total assets 229,990 225,288 217,720 2.1 负债合计 Total liabilities 142,597 137,396 138,727 3.8 股东权益 Total shareholders’ equity 87,393 87,892 78,993 -0.6 Operations Review——Financial Information
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公司经营概况——财务信息 利润表 Income Statement 单位：人民币百万元 RMB Mn 2026H1 2025H1 2025 变动 Change（%） 营业总收入 Total operating revenue 102,101 92,335 222,824 10.6 毛利 Gross profit 18,759 16,974 40,202 10.5 营业利润 Operating profit 3,221 6,862 11,534 -53.1 归属于母公司股东的净利润 Net profit attributable to shareholders of the Company 2,465 6,337 9,865 -61.1 基本每股收益(元) Basic earnings per share (RMB) 0.29 0.74 1.16 -60.8 Operations Review——Financial Information
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公司经营概况——财务信息 现金流量表 Cash Flow Statement 单位：人民币百万元 RMB Mn 2026H1 2025H1 2025 经营活动产生的现金流量净额 Net cash flow from operating activities 10,436 9,215 40,355 投资活动产生的现金流量净额 Net cash flow from investing activities -4,636 -10,109 -29,154 筹资活动产生的现金流量净额 Net cash flow from financing activities -3,304 -4,481 -13,445 汇率变动对现金及现金等价物的影响 Effect of foreign exchange rate changes on cash and cash equivalents -190 416 292 现金及现金等价物净增加额 Net increase in cash and cash equivalents 2,307 -4,959 -1,953 期末现金及现金等价物余额 Cash and cash equivalents at the end of the period 27,588 22,274 25,281 Operations Review——Financial Information
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公司经营概况——大事记 归元平台全球首发 1月，归元平台全球首发，兼容五大动力，搭载原生AI与双 VLA大模型，实现主被动安全深度融合 ，未来将布局柴油 混动，完善全动力架构。 北京车展前后多款新车密集上市 4月，全新坦克700、欧拉5燃油版与混动版陆续上市； 5月，哈弗猛龙PLUS、魏牌V9X正式上市，产品矩阵持 续完善。 阿联酋落地旗舰展厅 6月，长城汽车海外最大旗舰展厅于 阿联酋迪拜开业， 彰显了品牌深耕中东高端市场的决心与信心。 欧拉5曼谷全球首秀 2月，欧拉5在泰国曼谷全球首秀，彰显多动力优势和全球 时尚精品实力。 Operations Review——Significant Events 长城汽车环塔车队斩获多项冠军 6月，2026环塔长城车队包揽T2.E新能源、T2.1燃油、 T2.3量产组厂商杯冠军，实现量产组“大满贯”。 千次整车质量评审会 4月，长城汽车第1,000次整车质量评审会落地，坚持21 年的评车机制首次对外开放，完整呈现质量评审全流 程，彰显品质管控理念。 GWM ONE made its world debut In January, GWM ONE made its world debut. The platform is compatible with five powertrain configurations and achieves deep integration of active and passive safety systems leveraging its AI-native capabilities and dual VLA large models. In future, it will expand into diesel hybrid powertrains to complete the full-powertrain structure. ORA 5 had its global premiere in Bangkok In February, ORA 5 had its global premiere in Bangkok, Thailand, demonstrating its niches in offering multiple powertrain options and world- class styling and sophisticated craftsmanship. 1,000th vehicle quality review meeting In April, GWM conducted the 1,000th vehicle quality review meeting. It insisted on opening the vehicle evaluation process to the public for the first time in 21 years, showcasing the entire vehicle quality evaluation process and demonstrating its quality management philosophy. New models were launched during the Beijing Auto Show In April, the all-new TANK 700, ORA 5 fuel version and hybrid version were successively launched; in May, Haval Raptor Plus and WEY V9X were officially launched, further enhancing the Group’s product portfolio. GWM’s team secured multiple championship titles at the Taklimakan Rally In June, at the conclusion of the Taklimakan Rally, GWM’s team won the T2.E new energy, T2.1 ICE, T2.3 Production Class Manufacturer’s Cups, achieving a dominant clean sweep in the production class. Opened a flagship showroom in the UAE In June, GWM’s largest overseas flagship showroom was opened in Dubai, UAE, showcasing the Group’s commitment and confidence in brand awareness cultivation in the high-end market in the Middle East.
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海内外双核驱动，助力销量提升 深化品类创新，打造爆款车型 长城H10开辟方盒子新物种大六座市场，精准定 位大家庭多座市场，上市即爆款，稳固新能源方 盒子冠军地位。 深耕方盒子细分市场优势 锚定全球市场，深耕细分市场，打开增长新空间 2026年上半年实现全球销量 32.77万辆，其中海 外销量20.54万辆，同比增长45.04%，推动盈利 结构优化。 哈弗方盒子依托集团全球化体系及全域自研技术，建立竞争优 势，狗品类、猛龙系列国内外双线热销，长城H10上市即爆款； Hi4-2.0、高阶智驾、智能座舱补齐硬派车型能耗与智能化短 板，助力销量提升。 公司经营概况——哈弗 Operations Review——Haval Eyeing on the global market, deeply cultivating various market segments to open up new growth opportunities Leveraging the dual growth engines – domestic and overseas markets – to drive sales volume In 2026 H1, Haval achieved global sales of 327,700 units, of which overseas sales amounted to 205,400 units, up by 45.04% YOY, driving profit structure optimization. Strengthen competitive edge in the boxy vehicle market segment Haval boxy car model leverages the Group’s global system and full-domain self- developed technology to build competitive advantage. The two product lines – Dargo series and Raptor series were enjoying robust sales at home and abroad. GWM H10 became an instant hit upon its debut. Hi4-2.0, advanced intelligent driving and smart cockpit bridged the gap in energy consumption and smart features for hardcore off-road models, resulting in sales volume upsurge. Deepen product category innovation to develop popular vehicle models GWM H10 started a new product category – large 6-seat boxy vehicles – precisely targeting the large-family multi-seat market. It became an instant hit upon its debut and secured a leading position in the new energy boxy vehicle segment.
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国内越野SUV市场绝对领先品牌价值持续提升，高端化成效显著 2026年上半年 ，坦克品牌全球销量达 9.02万辆，全 新坦克700强化品牌高端形象，品牌溢价能力持续 提 升，依托麒麟荟高端用户平台开展圈层运营 ，实现从 产品价值向圈层生活价值延伸。 海外市场持续发力，全球布局拓展增量 2026年上半年，坦克品牌国内销量5.58万辆，持续保 持越野SUV市场领先地位。 截至2026年上半年 ，坦克品牌车型已销往全球 30多 个国家和地区，相继在澳洲、巴西、巴基斯坦等多国 落地坦克300 Hi4-T、坦克500 Hi4-T等车型，上半 年海外累计销售3.45万辆，同比增长57.64%。 公司经营概况——坦克 Operations Review——TANK 坦克越野龙头地位稳固，高端化与全球化双线突破 TANK’s leading position in the off-road segment remains solid, achieving breakthroughs in both high-end segment and global expansion The upmarket positioning has delivered significant results, with continued enhancement in brand equity In 2026 H1, TANK’s global sales reached 90,200 units; the all-new TANK 700 strengthened the brand’s upmarket image, and the brand’s premium continued to enhance. Leveraging the Qilin Hui premium user platform to drive targeted community engagement, the brand moved beyond product value to deliver community-based lifestyle value. Absolute market leadership in the domestic off-road SUV segment In 2026 H1, TANK’s domestic sales volume amounted to 55,800 units, continuing to maintain a leading position in the off-road SUV market. 凭借Hi4-T、Hi4-Z的技术优势，深化“全动力”布局， 上半年坦克品牌国内新能源渗透率达到58.44%。 Leveraging Hi4-T, Hi4-Z technology advantage, strengthened “full- powertrain” presence. In 2026 H1, TANK’s domestic NEV penetration rate reached 58.44%. Overseas markets continued to gain momentum, driving the brand’s global expansion Up to 2026 H1, vehicles under the TANK brand have been sold to over 30 countries and regions around the world. The Group rolled out TANK 300 Hi4-T and TANK 500 Hi4-T in Australia, Brazil, Pakistan and other countries. The cumulative overseas sales in 2026 H1 were 34,500 units, up by 57.64% YOY.
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魏牌上半年累计销售 4.1万辆，同比增长 27.5%。深耕 25-50万高端新能源市场，构建「V9X全球AI旗舰 + 新 款蓝山大六座SUV + 高山豪华MPV」产品阵营，依托 自研智能体系与归 元S平台，支撑品牌向上，布局全球 高端市场。 深化智能化战略，完善全品类矩阵，巩固高端智能新能源市场心智认知 公司经营概况——魏牌 Operations Review——WEY V9X、V8X依托归元S高端平台打造 ，精准覆 盖高端商务、品质家庭等客群。 优化渠道布局坚持品牌向上战略 完善高端产品矩阵 上半年深耕一二线核心商圈，建设“销交一体店”实现即售即 提。 Deepen intelligent strategy, optimize full-category portfolio, consolidate consumer mindshare and perception in the premium intelligent new energy market Insisted on brand premiumization strategy In 2026 H1, WEY sold a total of 41,000 units, up by 27.5% YOY.Deepened its penetration in the RMB250,000-500,000 premium NEV segment; established a product lineup including V9X global AI flagship + new 6-seat Blue Mountain SUV + High Mountain luxury MPV; leveraged self-developed intelligent system and GWM ONE S platform to facilitate brand premiumization and to strengthen its global presence in the premium market segment. Complete the premium product portfolio 高山上半年销量同比增长 186.04% ，登顶 2026年1-6月新能源MPV销量冠军。 V9X, V8X was built on GWM ONE S premium platform, precisely targeting the high-end corporate and quality-conscious family customer segments. In 2026 H1, High Mountain sales volume surged by 186.04% YOY, making it the best-selling new energy MPV from January to June 2026 聚焦一线、新一线及核心省会城市打造品牌中心店，树立渠道 形象与服务标杆，强力支撑魏牌高端化战略及用户豪华认知。 Optimizing sales channel network In 2026 H1, WEY strengthened its presence in the first- and second-tier core cities, establishing one-stop sales-and-delivery stores to enable immediate pickup upon purchase Focused on first-tier, new first-tier and key provincial capital cities, established the brand’s flagship stores to set the benchmark for channel image and service excellence and to provide strong support for WEY premiumization strategy and the brand’s luxury image among users
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公司经营概况——欧拉 Operations Review——ORA 欧拉5面向全球市场完成 BEV、HEV、ICE动力布局， 成功切入多个 区域市场，完成全球重点市场覆盖 ， 实现销量突破性增长 ，构建品牌增长新 引擎，后续 将持续推出其他动力版本。 全球化战略，构建品牌增长新引擎 归元赋能，以全新车、全动力产品助力全球化经营 欧拉品牌上半年累计销售 2.6万辆，同比增长75%。 随着品牌定位升级，欧拉客群从单一女性为主，成 功拓展了男性、家庭用户，用户结构更均衡，为新 产品提供了更广泛的用户基盘。 品牌定位焕新，客群结构多元化 欧拉5是归元平台首款量产落地车型，依托原生全动 力架构，实现一车多动力的产品落地 ，带动销量提 升；欧拉5 BEV车型上市后，夯实品牌科技标签，赋 能后续产品价值升级。 归元平台赋能，实现价值突破 Empowered by GWM ONE, accelerating global operations with all-new models and full-powertrain products Brand repositioning to establish a diverse customer base Total sales volume of ORA for 2026 H1 amounted to 26,000 units, surging by 75% YOY.Following its brand repositioning, ORA has successfully expanded its customer base from being predominantly female to encompass male and family customers. A more balanced user composition provides a broader customer base for future new products. Globalization strategy, building a new engine for brand growth Targeting the global market, ORA 5 has completed its powertrain portfolio encompassing BEV, HEV, and ICE. It has successfully entered multiple regional markets and covered key global markets, realizing breakthrough sales growth and establishing a new engine for brand expansion. Additional powertrain variants will be rolled out constantly in the future. Empowered by GWM ONE, achieving value breakthroughs ORA 5 is the first mass-produced model built on the GWM ONE platform that has been launched. Leveraging its native full-powertrain architecture, it delivers market-ready products with multiple powertrain options on a single vehicle platform, driving sales growth. The launch of the ORA 5 BEV model has firmly consolidated the brand's technological identity, empowering the value enhancement of subsequent products.
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公司经营概况——皮卡 长城皮卡已连续28年销量第一 长城皮卡上半年全球销售90,176辆，历史累计销售 近300万辆，连续28年市占率第一 。 持续引领中国皮卡品类向高端化、智能化、全球化突破 多动力矩阵，拓宽海外市场版图 长城皮卡1-6月累计出口 34,162辆，同比增长 27.5%。产 品覆盖全球80余个国家及地区，在澳洲、南非、智利等高 势能市场表现突出。面对海外市场差异化需求 ，长城炮搭 建柴油、汽油、HEV、Hi4-T超混多动力矩阵 ，实现多动 力全矩阵出海。 Operations Review——Pickup 长城炮系列海外市场广受认可 ，屡获海内外专业奖项； 山海炮拿下 澳洲ANCAP、中国C-NCAP双五星及中 保研三项全优安全评价 ，达成全球顶级安全水准；同 时斩获澳洲、泰国多项权威媒体大奖 ，全球产品认可 度持续提升。 权威认证加持，提升全球认可度 Continuing to lead China’s pickup segment in driving breakthroughs in premiumization, intelligent technology and globalization GWM Pickup has maintained its leading position in sales volume for 28 consecutive years 上半年推出长城炮Hi4-T，完善新能源产品矩阵。 GWM Pickup achieved global sales of 90,176 units in 2026 H1, with cumulative historical sales approaching 3 million units, ranking first in market share for 28 consecutive years. In 2026 H1, the GWM Cannon Hi4-T was launched, with continued optimization of new energy product portfolio. Multi-powertrain portfolio broadened overseas market footprint From January to June 2026, GWM Pickup exported 34,162 units, increasing by 27.5% YOY. Its products reached over 80 countries and regions worldwide, delivering outstanding performance in high-potential markets such as Australia, South Africa, and Chile. To address the differentiated demands of overseas markets, GWM Cannon offers multiple powertrain options, including diesel, gasoline, HEV, and the Hi4-T super hybrid, successfully driving global expansion with its comprehensive powertrain portfolio. Backed by authoritative certifications, enhancing global recognition The GWM Cannon series has gained widespread recognition in overseas markets, repeatedly winning professional awards at home and abroad. The Shanhai Cannon secured dual five-star safety ratings from Australia's ANCAP and China's C-NCAP, as well as top ratings across three major evaluation categories from C-IASI, achieving global top-tier safety standards. Simultaneously, it has received multiple prestigious media awards in Australia and Thailand, continuously elevating its global product recognition.
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公司经营概况——灵魂摩托 Operations Review——SOUO 2026年上半年，长城灵魂S2000家族持续完善产品 矩阵，完成了巡航经典版的上市 。目前，长城灵魂 在售车型包括 S2000旅行车和S2000巡航车两大品 类、五个车型，平均售价达到20万元。 已在欧洲、中东、澳新等全球7个核心区域实现渠道 布局，中东覆盖卡塔尔、阿联酋市场，并在欧洲、 澳新等区域开展本地 适应性测试和用户 试驾体验， 提升在海外市场的曝光率和销量。 品牌高端化释放势能 加速海外渠道渗透 高端塑造品牌势能，出海开启全新布局 围绕车主社群、用户本位、硬核产品三大维度开展 文化建设，通过海南车主摩旅、北京车展用户彩绘 C 位展示、新疆独库公路媒体长途试驾，实测试证 产品硬实力。 渠道与文化共建，夯实用户品牌根基 Premium positioning drives brand momentum, overseas expansion marks a new phase of development Brand premiumization unleashes momentum In 2026 H1, the GWM SOUO S2000 family continued to optimize its product mix, successfully completing the launch of the classic cruiser variant. At present, the models currently offered for sale by GWM SOUO included two main product types—the S2000 touring motorcycle and the S2000 cruiser motorcycle—covering five models, with the average selling price reaching RMB200,000. Accelerating overseas channel penetration SOUO has established a strategic sales network across seven key regions around the world, including Europe, the Middle East, Australia and New Zealand. In the Middle East, its coverage extends to the Qatari and UAE markets. Furthermore, it has conducted local adaptability testing and user test-drive events in Europe, Australia, New Zealand and other regions, continuously enhancing the brand exposure and sales volume in overseas markets. Co-building sales network and brand’s value to consolidate its customer brand recognition Built brand culture around three core dimensions: car owner community, user-centricity and hardcore products; through initiatives such as the Hainan owner motorcycle tours, center-stage displays of user-customized paintwork at the Beijing International Automotive Exhibition, and long-distance media test drives along the Duku Highway in Xinjiang, rigorously tested and validated the uncompromising product capabilities in real-world scenarios.
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惯性航线构建车 -云深度协同能力 ，依托云端路况预判 ， 车端动态 优化 ，实现降油耗 、防故障；护航 系统联动 ADAS 完成控制权无缝切换 ，平衡安全冗余与驾乘 体验； 今年6月，自研商用车九合一动力域控制器斩获行业奖项 ， 核心零部件技术获得权威认可。 混动重卡实现行业首个百台交付，完成与顺丰、中 通批量交付，推进快递快运混动商业化； 在跨境、 冷链、山区干线、港口集运等场景取得市场突破， 持续扩大业务覆盖。 G1050混动重卡 干线高效运输 G970混动重卡 干线普货 GE573纯电重卡 支线快递 未来更多可能 软硬协同创新，解锁重卡节油安全新方案 头部客户批量交付产品矩阵丰富，多技术路线布局 依托4×2、6×4架构，布局纯电 / 混动 / 插混技术路 线；10L/13L混动、573kW纯电车型已量产 ，大电 量纯电、插混车型2026下半年—2027年初投放；产 品适配多元货运场景。 打造全球顶级重卡品牌，重新定义中国高端重卡，开启物流重卡节油新模式 公司经营概况——商用车 Operations Review——GWM Commercial Vehicles Building a top-tier global heavy-duty truck brand, redefining China's high-end heavy-duty trucks, and pioneering a new paradigm of fuel efficiency for logistics heavy-duty trucks Comprehensive product mix with a multi-technology roadmap More models in the future Leveraging 4×2 and 6×4 drivetrain architectures, strategically deployed pure electric, hybrid, and plug-in hybrid technology pathways. The 10L/13L hybrid and 573kW pure electric models have commenced mass production, while high-capacity battery pure electric and plug-in hybrid models are scheduled for market launch between 2026 H2 and early 2027. These products are highly adaptable to diverse freight transport scenarios. Software-hardware synergistic innovation unlocks new solutions for heavy-duty truck fuel efficiency and safety Inertial routing establishes deep vehicle-cloud synergistic capabilities. Relying on cloud-based road condition prediction and vehicle-end dynamic optimization, it achieves reduced fuel consumption and fault prevention; the safeguard system integrates with ADAS to complete seamless control handovers, effectively balancing safety redundancy with the driving experience. In June 2026, the in-house developed 9-in-1 powertrain domain controller for commercial vehicles won industry awards, demonstrating authoritative recognition of the core component technologies. Batch deliveries to leading customers Hybrid heavy-duty trucks achieved the industry's first 100-unit delivery, completing batch deliveries to SF Express and ZTO Express, advancing the commercialization of hybrid vehicles in express and freight logistics; achieved market breakthroughs in scenarios such as cross-border transport, cold chain transport, mountain line-haul, and port container transport, continuously expanding business coverage. G1050 hybrid heavy truck Efficient line-haul transport G970 hybrid heavy truck Line-haul freight GE573 pure electric heavy truck Feeder express
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生态出海 公司经营概况——生态出海 Operations Review-- Ecosystem Globalization 以归元产品思维适配全球，全面践行生态出海 ONE GWM战略 ，以母 品牌为战略牵引，构建大 众经济型与高端两大产品 矩阵，多品牌协同覆盖全 球各细分市场。 新进入波兰 、奥地利 等市 场，足迹遍及欧洲 、澳洲、 非洲、中南美洲 、东南亚 和中东等 170多个国家和 地区。 上半年海外 新增 店 面近 200 家 ， 渠道店面超 1,600家。 向亚、欧、拉美、澳洲等市场 投放坦克 300、坦克500等多款车型，完善海外产 品布局。坦克、哈弗H9等高价值 车型占 比提升，带动了海外业务整体盈利能力的 提升。 从技术保障、服务运营、配 件供应、数智赋能四大维度 提高全球化服务质量。 品牌维度/ Brand Dimension: 市场维度/ Market Dimension: 渠道维度/ Channel Dimension: 产品维度/ Product Dimension: 售后服务维度/ After-Sales Service Dimension： 面向全球用户，致力于提供高品质产品和服务，以“ONE GWM”品牌战略提升品牌认知和渠道运营效率，以全球化产品矩阵精准适配，加快全球布局。 Guided by its “GWM ONE” product philosophy，fully advancing ecosystem globalization Catered to global users, GWM is committed to delivering high-quality products and services. Driven by “ONE GWM” brand strategy, the Company strengthened brand recognition and enhances channel efficiency, while accelerating its global market presence with a globally tailored product portfolio designed to meet diverse market demands The “ONE GWM” strategy uses the master brand as the strategic anchor to build two major product portfolios—mass-market value and premium—while enabling multi-brand synergy to cover different market segments worldwide. GWM newly entered markets such as Poland and Austria, with footprint spanning more than 170 countries and regions including Europe, Australia, Africa, Central and South America, Southeast Asia, and the Middle East. In the first half of the year, there were nearly 200 new stores added, bringing the total channel store count to over 1,600. Multiple models—including TANK 300 and TANK 500—have been launched in markets across Asia, Europe, Latin America, and Australia, further strengthening overseas product footprint. The share of high-value models such as TANK and HAVAL H9 has been increased, driving an overall improvement in the profitability of overseas business. Improve global service quality from four dimensions: technical support, service operations, parts supply, and digital-intelligent empowerment. Ecosystem globalization
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同比增长 欧洲市场 (European Markets) • 6月，欧拉5在西班牙、意大利等 地上市，逐步完善欧洲市场布 局。 • In June, ORA 5 was launched in Spain, Italy, etc., steadily expanding European market footprint. 拉美市场 (Latin America Markets) • 全新GWM ORA 5在巴西市场开局表现远超预期。 • 坦克300和哈弗H6 PHEV 弹性燃料版在巴西正式上市。 • The all-new GWM ORA 5 has significantly outperformed expectations in its initial market launch in Brazil. • TANK 300 and HAVAL H6 PHEV flex-fuel versions have been officially launched in Brazil. 东盟市场 (ASEAN Markets) • 欧拉5全球发布会在曼谷举行，以“一车多动力”的产品策略响应当地用户多元 出行需求。 • The global launch event for ORA 5 was held in Bangkok, adopting the “a single vehicle with multiple powertrain options” product strategy to meet local users’ diverse mobility needs. • 2026吉隆坡国际车展上，公司携全系产品登场，哈弗猛龙与ORA 5 HEV首次亮 相马来西亚。 • At the 2026 Kuala Lumpur International Motor Show, the Company showcased its full product lineup, with Haval Raptor and ORA 5 HEV making their Malaysia debut. 澳新/南非市场 （Australia & New Zealand / South Africa Markets ） • 3月，哈弗H6 AT1版本发布，经澳洲底盘调教专家调试后版本车辆。 • 4月，坦克300PHEV上市。同月，墨尔本车展，欧拉5亮相。 • March : The HAVAL H6 AT1 version was launched; the vehicle was tuned by Australian chassis calibration specialists. • April : TANK 300 PHEV was launched. In the same month, the ORA 5 made its debut at the Melbourne Motor Show. 中东/北非市场 (Middle East / North Africa Markets) • 哈弗猛龙中东上市，提供提供兼顾都市与沙漠的全新出行选择 • Haval Raptor was launched in the Middle East, offering a new mobility option that balances urban driving and desert capability • 长城汽车海外最大旗舰展厅于阿联酋迪拜开业。 • GWM opened its largest overseas flagship showroom in Dubai, UAE. 公司经营概况——海外业绩 Operations Review——Overseas performance 依托归元理念，打造适配全球用户多样化需求的大单品，实现“一车多动力”的全球产品模式。 28.90 万辆 +45.46%上半年海外累计销量 Leveraging the “GWM ONE” principle, developed products to meet diverse demands of global users; achieved a global product strategy offering “a single vehicle with multiple powertrain options” In 2026 H1, total overseas sales volume amounted to 289,000 units; YOY growth
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第三部分 新车型 Section 3 New Car Models
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独一无二的东方力量美学设计 原创的东方力量美学，外观内饰全面焕 新。 独一无二的大排量混合动力 搭载3.0T Hi4-T和2.0T Hi4-Z双动力，适 配全域出行场景。 独一无二的奢享豪华体验 搭载具备 VLA大模型的Coffee Pilot 4.0 辅助驾驶系统和Coffee OS智能座舱，为 用户提供点到点领航的出行体验。 用户群体拓圈 集“智能+豪华+越野“ 的全新品类SUV， 切入高端中大型SUV赛道，覆盖传统豪华 与新势力高端两大圈层用户。 新车型——坦克——全新坦克700 New Car Models ——TANK——All-New TANK 700 Unique aesthetic design of Oriental strength Original Oriental strength design – fully renewed inside and out. Unique large displacement hybrid Offered dual powertrain options—the 3.0T Hi4- T and 2.0T Hi4-Z—to cover full-scenario mobility. Unique luxurious premium experience Equipped with the Coffee Pilot 4.0 assisted driving system powered by the VLA large model and the Coffee OS intelligent cockpit, delivering a point-to-point navigation-on-autopilot mobility experience. Expanded user base A new SUV category integrating intelligence + luxury + off-road capability, tapping the premium mid-to-large SUV segment and covering both traditional luxury and next-generation premium NEV customer segments.
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方圆有度东方美学 秉承 “方圆有度” 设计哲学，三原色带来 高饱和视觉张力 ，打造自由无 界SUV造型 表达。 全栈智能交互体验 搭载Coffee Pilot 3.0辅助驾驶和Coffee OS 3.0智能 座舱，带来极致的舒适性体验。 多元全动力矩阵 首次 搭载 Hi4-Z超能混动架构 ，同步 提供 Hi4-T、汽油、柴油版本，形成完整动力选 择。 全场景自由越野能力 标配4L、蠕行、坦克转弯 ，具备强脱困与救援能力； 搭配40处拓展点位 、2.5吨牵引、外放电及IoT拓展， 一车覆盖多元户外场景。 新车型——坦克——全新坦克300 New Car Models ——TANK——All-New TANK 300 Oriental aesthetics: squared and rounded in perfect harmony Guided by the “Squared and Rounded in Perfect Harmony” design philosophy, the tri-color palette delivers high-saturation visual impact, creating a free-spirited, boundary-breaking design expression of the SUV Diverse Full-Powertrain Portfolio For the first time, it features the H Hi4-Z super hybrid architecture, while also offering Hi4 T, gasoline, and diesel variants—delivering a complete range of powertrain options. Full-stack intelligent interactive experience Equipped with the Coffee Pilot 3.0 driving assistance system and the Coffee OS 3.0 intelligent cockpit, deliver an exceptionally comfortable experience. All-scenario off-road capability Standard configurations with 4L, crawl control, and tank turn, delivering strong self-recovery and rescue capabilities; complemented by 40 additional mounting points, 2.5-ton towing capacity, V2L external power supply, and IoT expansion—one vehicle covering a wide range of outdoor scenarios.
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优秀智能驾驶能力 新物种 大六座方盒子SUV MPV舒享+泛越野全场景+城市SUV智享 外观造型实力 硬核底盘性能 宽奢座舱空间 新车型——哈弗——长城H10 New Car Models——HAVAL——GWM H10 Exterior Styling Capability 百万级气场 方鼎美学、星钉大灯、飞棱尾灯 Million-yuan presence Square-cauldron design aesthetic, star-studded headlamps, and flying-ridge taillamps 超级智控底盘 全系标配四驱第二代Hi4 5138/5299*2050*1970mm 二排通道/三排坐姿同级领先 搭载Coffee Pilot 3辅助驾驶系统， 实现全场景NOA覆盖 Spacious and luxurious cabin space Second-row walk-through and third-row seating are among the best in its class. Hardcore chassis performance Super intelligent control chassis Standard 4WD with 2nd-gen Hi4 on all models Advanced intelligent driving capability Equipped with the Coffee Pilot 3 driving assistance system Enables full-scenario NOA coverage New product category Large 6-seat boxy SUV MPV comfort + versatile off-road full scenario + urban smart SUV
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多功能座椅+冷暖双用冰箱 副驾门板无线充+副驾靠背小桌板 高速+城市双领域NOA 车位到车位领航辅助 五座/七座双座舱布局 轴距2850mm，得房率超70% Hi4智能四驱电混技术 电控减振器+轻越野巡航 造型有棱角——方正空间 技术有棱角——四驱平权 实用有棱角——舒享座舱 科技有棱角——辅助驾驶 新车型——哈弗——猛龙PLUS New Car Models——Haval—Raptor Plus Bold, angular design —spacious boxy cabin Dual cabin layouts: 5-seat / 7-seat. 2850mm wheelbase; over 70% space utilization. Technology with an edge — AWD for all Hi4 intelligent 4WD electric hybrid technology. Electronically controlled dampers + light off- road cruise control. Practical with an edge — Comfort-Oriented Cabin Multi-function seats + hot/cold dual-mode refrigerator. Front passenger door-panel wireless charging + front passenger seatback folding tray table. Technology with an edge — driving assistance Dual-domain NOA for highways and urban driving. Parking-to-parking navigation-on-autopilot assistance.
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归元S首发旗舰车型 奢享空间座舱实力 东方造型美学实力 旗舰全域驾控实力 新车型——魏牌——V9X New Car Models——WEY—— V9X 迭代进化超级Hi4全域混动系统，自研全套底盘核 心三件套，三重智能控制策略，实现精准操控。 搭载全球首创原生AI全动力平 台，专为大型豪华车型量身打 造。 采用2+2+2六座均衡布局，超大车 内空间，平等礼遇每一位乘员，拥 有媲美高端MPV的宽适座舱体验。 重檐庑殿顶前脸，悬浮立体车标，一眼点睛， 环抱座舱，承袭东方人居意境。 Powered by the world’s first Al-native full- powertrain automotive platform, purpose- built for large luxury vehicles. First flagship model built on GWM ONE S platform Premium luxury cabin with exceptional spaciousness Featuring a balanced 2+2+2 six-seat layout and an exceptionally spacious interior, it offers comfort for every occupant—delivering a spacious cabin experience comparable to high-end MPVs. Oriental Design Aesthetics Strength The front fascia draws inspiration from the double-eave hip roof of traditional Chinese architecture, while the floating 3D emblem serves as a striking focal point, a wraparound cockpit that draws on the Oriental philosophy of living spaces. Flagship all-domain driving control strength An evolved super Hi4 all-domain hybrid system, paired with a self-developed full set of three core chassis components and a triple-layer intelligent control strategy that delivers precise handling.
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全球化产品理念 归元平台技术底座 越级智能配置实力 越级驾乘用户体验 新车型——欧拉——欧拉5 New Car Models——ORA——ORA5 秉持 “一车多动力、一车多姿态、一 车多品类” 开发思路，面向全球用户 打造适配多场景的车型产品。 依托归元平台底层架构赋能，实现 BEV、HEV、ICE多动力版本同步落 地。 搭载长城第三代智能辅助驾驶系统，突破同 级配置壁垒，智驾能力领先。 兼顾智能便捷、颜值质感与实用舒 适，面向城市年轻及家庭用户提供越 级出行体验。 Global product philosophy Adhered to the design concept of “multiple powertrain options, multiple driving modes and flexible configurations”, this model is tailored to adapt to multiple scenarios for global users. GWN ONE platform technology foundation Powered by the underlying GWN ONE platform architecture, enabling the parallel rollout of BEV, HEV, and ICE variants. A class-above intelligent features and capabilities Equipped with GWM’s third-generation intelligent assisted driving system, breaking through same- segment feature limitations and delivering class- leading driver-assistance capability. A class-above driving and riding experience Balancing smart convenience, design appeal and perceived quality, and practical comfort, delivering an upgraded mobility experience for young urban users and families.
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第四部分 科技长城 Section 4 GWM Technology
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归元平台——四方共赢的产业新范式 企业端：极致降本增效 通过模块化设计与供应链 协同，实现生产效率与成 本控制的双重突破。 用户端：全维价值体验 全动力选择、智慧体验、 用车成本优化 行业端：重构造车逻辑 重塑造车逻辑 ，推动行 业向软件定义 + 模块组 合转型 社会端：助力绿色发展 适配全球多元能源结构， 助力碳中和发展 01 动力革新 全球首个兼容五大动力的原生平台，支持 100kWh大电池；新一代Hi4混动实现4秒 级加速、400km+纯电续航，充电5分钟补 能200km。 02 底层底气 依托森林生态体系，300+核心零部件自 研自产，掌握底层技术定义权。 03 智能革新 依托Coffee EEA4.0、AI OS、双VLA大 模型，打造原生AI智能体 04 造车理念革新 将整车拆解为300+标准硬件与2000+软 件标签，实现可拆、可配、可进化，一 套架构即可衍生多动力、多姿态车型。 科技长城——归元平台 GWM Technology——GWM ONE Platform GWM ONE platform——a new industry model where all four stakeholders win To corporation: Maximum cost reduction and efficiency improvement Through modular design and supply-chain collaboration, achieving dual breakthroughs in manufacturing efficiency and cost control. To user: a comprehensive value experience Full powertrain options, intelligent user experience, and optimized vehicle operating costs. To industry: Redefining the fundamental logic of vehicle manufacturing Redefining the fundamental logic of vehicle manufacturing, driving the industry’s transition toward software-defined and modular platform. To society: Advancing green development Adapting to the global diversified energy mix and contributing to carbon-neutral development. Powertrain Innovation The world’s first native platform compatible with five major powertrain types, supporting a 100 kWh high- capacity battery. The new-generation Hi4 hybrid delivers 4-second-class acceleration and 400 km+ pure-electric range, with 5 minutes of charging adding 200 km of range. Foundational Strength Leveraging the forest ecosystem, more than 300 core components are developed and manufactured independently, ensuring control over foundational technologies. Intelligent Innovation Leveraging Coffee EEA 4.0, AI OS, and dual VLA large models, enabling a AI-native agent. Innovation in vehicle manufacturing By modularizing the vehicle into 300+ standardized hardware modules and 2,000+ software tags, it enables disassembly, configuration, and continuous evolution. A single architecture can therefore spawn models with multiple powertrains and multiple configurations.
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森林生态，构建多能源技术新格局 01 纯电技术 多元电池与超充 覆盖三元、铁锂及固态电池体系，布局800V高压平 台，实现6C超充，9分钟即可补能80%。 高效三合一电驱 功率覆盖100-300kW，完美适配从家用代步到性 能跑车的全品类车型需求。 SiC碳化硅电控 应用第三代功率半导体技术，有效降低能耗，延长 续航里程。 02 混动技术 03 氢能技术 高功率燃料电池系统 系统额定功率达120kW，平台化开发80- 100kW系列产品，能量转化效率高，环 境适应性强。 国际领先石墨板技术 采用厚度≤1.4mm的超薄石墨板，功率 覆盖180-240kW，可满足重型商用车的 大功率动力需求。 04 燃油技术 大排量核心技术突破 接连攻克3.0T柴油发动机、4.0T汽油发动 机等技术难关，掌握高端燃油动力的核心 技术壁垒。 热效率与性能标杆 V8旗舰机型热效率达到同级领先水平，兼 顾极致的动力输出与优异的燃油经济性。 Hi4-Z 专为越野场景设计，提供超长纯电续航。 科技长城——多条能源技术路线并举 GWM Technology——Parallel development of multiple energy technology pathways Hi4技术家族迭代升级，全新一代超级Hi4实现四大维度突 破；Hi4-Z落地坦克多款车型，新一代油混Hi2搭载欧拉 5，混动产品矩阵持续完善。 Hi4 性能版 实现两驱价格、四驱体验，全工况效率最优。 Leveraging the forest ecosystem to forge a new landscape in multi-energy technology Pure electric technology Diversified battery solutions and ultra-fast charging： Covering ternary (NMC), LFP, and solid-state battery chemistries, deploying an 800V high-voltage platform to support 6C ultra-fast charging, enabling an 80% charge in just 9 minutes. High-efficiency three-in-one electric drive system ： Power outputs spanning 100–300 kW, ideally suited to a comprehensive range of vehicle applications—from everyday family mobility to high-performance sports cars. SiC silicon carbide electric control：Adopting third- generation power semiconductor technology to effectively reduce energy consumption and extend driving range. The Hi4 technology family has been iterated and upgraded, with the all-new Super Hi4 delivering comprehensive breakthroughs across four key dimensions. Hi4 Z has been deployed across multiple TANK models, while the next-generation hybrid system Hi2 has been introduced on the ORA 5—further strengthening the hybrid product portfolio. Hybrid technology Hi4 Performance Edition：Delivers the experience of 4WD at the price of 2WD, with optimal efficiency across all operating conditions. Hi4-T 基于坦克平台的纵置并联混动架构，专为强越野打造。 It is a longitudinal parallel hybrid architecture built on the TANK platform, specifically engineered for hardcore off-road performance. Hi4-G 专为重载、拖拽及工程作业场景打造。 Designed specifically for off-road scenarios, with exceptionally long pure-electric range. Designed specifically for heavy loads, towing, and engineering work scenarios. High-power fuel cell system With a rated system output of up to 120 kW, the platform also supports modular development of 80–100 kW series products. It delivers high energy-conversion efficiency and strong environmental adaptability. World-class graphite bipolar plate technology Use ultra-thin graphite bipolar plates (≤ 1.4 mm), delivering power outputs from 180 to 240 kW, meeting the high-power demands of heavy-duty commercial vehicles. Fuel technologyHydrogen energy technology Breakthroughs in large-displacement core technology ： Successfully overcame key technical challenges in areas such as 3.0T diesel and 4.0T gasoline engines, holding the core technological moats in high-end ICE powertrains. Benchmark in thermal efficiency and performance：The thermal efficiency of the flagship V8 engine has reached a class- leading level, combining extreme power output with excellent fuel economy.
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科技长城——智能辅助驾驶 GWM Technology——Intelligent Assisted Driving 长城汽车智能辅助驾驶平台 100TOPS左右 无图高速NOA/记忆泊车HPA/ 主动安全 • 无图高速NOA，高性价比 • 自动紧急刹停AEB • 跨层记忆泊车 Coffee Pilot 2 200+TOPS Coffee Pilot 3 700 TOPS Coffee Pilot 4 Mapless highway NOA/ Home zone automated valet parking (HAVP)/ active safety • Mapless highway NOA, high performance-to-price ratio • Automatic Emergency Braking (AEB); • Cross-layer memory parking. Mapless highway NOA/ Home zone automated valet parking (HAVP)/ active safety • Mapless city NOA throughout the country • Cross-layer memory parking, support both indoor and outdoor parking; • Universal obstacles detection, with memory- based road topology generation. Mapless city NOA/ end-to-end/ Home zone automated valet parking (HAVP)/ active safety • Mapless city NOA throughout the country, support end-to-end driving; • Cross-layer memory parking; • End-to-end+VLA Model. 二代枭龙MAX 猛龙PHEV 全新高山 坦克300 坦克400 坦克500 长城H10 欧拉5 猛龙PLUS V9X 坦克700 全新蓝山智能进阶版 无图城市NOA/点到点/无人 AVP/主动安全 • 全国无图城市NOA，支持点 到点 • 跨层记忆泊车，无人AVP • 端到端+VLA大模型 无图城市NOA/无人AVP/主动安全 • 全国无图城市NOA • 跨层记忆泊车，覆盖市内外停车 场 • 通用障碍物检测，记忆生成道路 拓扑 Raptor PHEV Second-generation Xiaolong MAX All-New High Mountain ORA 5 GWM H10 Raptor Plus TANK 400 TANK 500 TANK 300 All-New Blue Mountain Intelligent Advanced Edition TANK 700
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科技长城——智能辅助驾驶 锚定用户体验，实现从硬件升级、功能进阶到体验进化的完整升维 GWM Technology——Intelligent Assisted Driving 实现智驾平权 长城汽车持续迭代Coffee Pilot 3系统，以“更低成本、更高性能”为核心原则，持续扩大 车型覆盖范围，推动高阶智驾加速普惠。2026年上半年，Coffee Pilot 3已在欧拉5、猛龙 PLUS等车型上实现规模化量产落地，让更多用户享受辅助驾驶带来的出行便利。 攻坚前沿技术 长城汽车推出Coffee Pilot 4全新一代辅助驾驶系统，为用户打造“听得懂、看得见、会思考、 可信任”的智驾体验。目前该系统已搭载于2026款蓝山智能进阶版、全新坦克700、魏牌V9X 等车型，后续还将逐步覆盖魏牌、坦克等高端产品线，为品牌向上突破筑牢技术底座。 Eyeing on user experience, completing dimension lifting across the full spectrum — from hardware upgrade and functional advancements to experience evolution Enable driving assistance democratization GWM continued to iterate the Coffee Pilot 3 system. By adhering to the core principles of “lower cost, higher performance”, it steadily expanded the coverage across different vehicle models and accelerate the promotion of mass-market adoption of advanced intelligent driving. In the first half of 2026, Coffee Pilot 3 reached mass production in ORA 5, Raptor Plus and other vehicle models, enabling a broader user base to benefit from the travel convenience offered by assisted driving. Make breakthroughs in cutting-edge technologies GWM launched Coffee Pilot 4, a new-generation assisted driving system, delivering an intelligent driving experience that listens, sees, thinks and earns the trust of the users. The system has already been installed on models including the 2026 Blue Mountain Intelligent Advanced Edition, the all-new TANK 700, the WEY V9X and other vehicle models, and will be rolled out across premium models under the WEY and TANK brands, further strengthening the technology foundation underpinning brand premiumization.
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CoT 推理 Token Align 科技长城——世界模型 GWM Technology——World Model 长城汽车 “Coffee Pilot 4”– 最懂你的驾驶伙伴 更安全 个性化更舒适 更智能 更安心 融合端到端 大量clip训练数据, MoE大参数 融合Diffusion Head 轨迹更拟人, 体感老司机 语音操控驾驶 前方路口右转, 实时操控输入 个性化驾驶场景记忆 通勤认准车位到车位全路段驾驶 实时反馈车况至舱内语音助手 乘客更安心 Safer More Comfortable More Intelligence Personalization Peace of mind GWM "Coffee Pilot 4" – The driving partner who understands you most ———————————————————————————————————————————— 空间智能 座舱云端大模型 轨迹动作 Integrate end-to-end Massive clip training data and a large -parameter MoE model Diffusion Head Integration generates more human-like trajectories, delivering the feel of an experienced driver. Voice-activated driving Turn right at the next intersection through real -time voice command input Real-time vehicle status is relayed through the cockpit voice assistant, giving passengers greater peace of mind 驾驶记忆 Driving memory 用户语音输入 User voice input 意图识别 Intent recognition 导航指令 Navigation command 直接控制 Direct control Cockpit cloud large model 传感器输入 Sensor input 自车状态输入 Self-vehicle status input 2D 图像 2D image BEV 特征 BEV characteristics 3D Occ空间 3D Occ space 3 billion parameters, driving expert scene debugging Trajectory action CoT reasoning Key obstacle - Detection 关键障碍物 - 检测 -Occ Scene understanding 场景理解 道路结构 - 车道线 - 红绿灯 - 拓朴 行为推理 Behavioral reasoning 语音播报 (舱内模型) Voice broadcast (cabin model) VLA 3B MoE (驾驶专家场景调试) Personalized driving scenario memory memorizes regular routes, delivering a seamless door -to-door automated driving experience Spatial Intelligence Expert-led driving scenario calibration Road structure -Lane markings -Traffic lights -Topology
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科技长城——智慧座舱 GWM Technology——Smart Cockpit • 一机五屏 • 内置集成VIMS • 内置集成AVM • 内置VSG • 自研Coffee OS • 自研GUX1.0/2.0生态 Coffee OS 1&2 • 一机七屏 • 空间交互 • 视觉+语音多模态 • 应用3D可视化升级 • 多场景实时互动 • 创新的第三空间 • 自研Coffee OS 3 • 全栈手车互联 • 全面打开生态 • Coffee Space Agent • 0层级AI UI 交互 • 开放的AI生态 • AI系统与组件 • 主动式服务 Coffee OS 3 Coffee AI OS 4 • SoC：高通8155 • CPU: 105K DMIPS • GPU: 1100 GFLOPS • NPU（AI）: 3.4 TOPS • 内存: 16 GB • 存储: 64 GB • SoC：高通8295/8295P • CPU：220K DMIPS • GPU：3100 GFLOPS • NPU（AI）：30/60 TOPS • 内存：24 GB • 存储：256 GB 2021年 魏牌摩卡搭载长城汽车全栈自研的 Coffee OS 智能座舱系统 行业首搭骁龙8155芯片，1芯5屏 为用户提供丰富的影音娱乐体验 2024年 魏牌全新蓝山搭 载长城汽车全新 Coffee OS 3智 慧空间系统 2026年 下一代Coffee OS 4 将适配长城汽车旗下更多车型 深度打磨AI系统、AI生态与AI应用 为用户打造AI 原生智慧空间 • SoC：高通8797 • CPU：614K DMIPS • GPU：8100 GFLOPS • NPU（AI）：320 TOPS • 内存：64 GB Coffee AI OS 4 长城汽车智能座舱平台 GWM intelligent cockpit platform • The system supports five screens • Built-in integrated VIMS • Built-in integrated AVM • Built-in VSG • Self-developed Coffee OS • Self-developed GUX1.0/2.0 ecosystem • Memory: 16 GB • Storage: 64 GB • The system supports seven screens • Built-in integrated VIMS • Built-in integrated AVM • Built-in VSG • Self-developed Coffee OS 3 • Self-developed GUX1.0/2.0 ecosystem • Full-stack phone-to-vehicle connectivity • Fully open the ecosystem • SoC: Qualcomm 8295/8295P • Memory: 24 GB • Storage: 256 GB • Zero-level AI UI interaction • Open AI ecosystem • AI-powered systems and components • Proactive services • SoC: Qualcomm 8797 • Memory: 64G 2025年 应用车型不断扩大， 包括全新高山、二代哈弗枭 龙MAX、全新坦克400、坦 克500、欧拉5等战略车型， 为更多用户带“五好”智能 化体验。 … WEY Mocha installed GWM’s self-developed full-stack Coffee OS intelligent cockpit system WEY’s all-new Blue Mountain installed GWM’s all-new Coffee OS3 intelligent cockpit system. Continuously expanding model applications, including strategic models such as the all-new High Mountain, second-generation Haval Xiaolong MAX, all-new TANK 400, TANK 500, and ORA 5, delivering the "Five Excellences" intelligent experience to more users. Next-Generation Coffee OS 4 to be rolled out across more GWM models; intensified refining of the AI system, AI ecosystem, and AI applications creating an AI-native smart space for users
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科技长城——智慧座舱 GWM Technology——Intelligent Cockpit 打造全栈自研的智能座舱系统 Coffee OS 3 迭代升级 长城汽车始终以用户需求为核心 ，持续推进Coffee OS 3的迭代升级。最新的Coffee OS 3.4版本，可精准感知用户需求，输出主动、个性、专属的场景化服务，已搭载于魏牌V9X， 后续将通过OTA推送至更多车型。 Coffee AI OS 4 原生智能座舱 基于下一代超高算力座舱芯片，长城汽车正加快研发Coffee AI OS 4原生座舱系统，依托端 云一体整车大脑Master-Agent架构，进一步深化AI技术的全场景渗透，结合用户习惯、环 境变化与场景需求，将实现端云数据同步、闭环进化，为用户提供7×24小时全天候、全场 景、全链路的主动式智能服务。 Developing a full-stack self-developed intelligent cockpit system Coffee OS 3 iterative upgrades GWM consistently centers on user needs, continuously advancing the iterative upgrades of Coffee OS 3. The latest Coffee OS 3.4 version can accurately perceive user demands to deliver proactive, personalized, and exclusive scenario-based services. It is already equipped on the WEY V9X and will subsequently be rolled out to more models through OTA updates. Coffee AI OS 4 native intelligent cockpit Powered by a next-generation, ultra-high computing power cockpit chip, GWM is accelerating the R&D of the Coffee AI OS 4 native cockpit system. Relying on the device-cloud integrated vehicle brain architecture "Master-Agent", it further deepens the all-scenario penetration of AI technology. By integrating user habits, environmental changes, and scenario demands, it will achieve device-cloud data synchronization and closed-loop evolution, providing users with 24/7 all- weather, full-scenario, and end-to-end proactive smart services.
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科技长城——智慧座舱——Coffee AI OS 4 GWM Technology—— 长城汽车智慧空间系统Coffee AI OS 4：AI原生智能伙伴 AI+好看 AI+好听AI+好用 AI+好玩 AI+好聪明 AIUI交互体验 全场景个性化主动服务 五好座舱Agent 顶级声画沉浸体验 AIUI框架Coffee Link 多屏交互/多模交互 Coffee Vision 隐私 安全 渲染引擎 … 内核系统（大小核算力分配） Coffee AI Sound STR HAL 驱动系统 座椅/儿童座椅/空调/冰箱/主驾屏/中控屏/娱乐屏/扬声器/麦克风/摄像头/DVR/车窗/车门/底盘/动力… 性能管控 ADAS AI 定制控件 定制皮肤 专属设计语言 CPU Limit/动态频率/并发管理/启 动管理/… 性能标准与基线 智驾服务/智驾智能场 景/个性化智驾 全场景个性化主动服务 AI inside- Visually appealing AI inside- User-friendly AI inside- Entertaining AI inside- Excellent auditory experience AI inside- Highly intelligent GWM's intelligent cockpit system, Coffee OS 4: AI-native intelligent companion AIUI interaction experience Full-scenario personalized proactive service Agent of Visually appealing, User-friendly, Entertaining, Excellent auditory experience, Highly intelligent Top-tier audio-visual immersive experience Multi-screen interaction / Multi -modal interaction Privacy Safety Rendering engine AIUI framework Performance management Customized controls Customized appearances CPU Limit/ dynamic frequency/ concurrency management/ startup management / ... Performance standards and baselinesExclusive design language Intelligent driving services / intelligent driving scenarios / personalized intelligent driving / ... Full-scenario personalized proactive service Kernel system (allocation of computing power) Drive system Seats/ child seats/ air conditioning/ refrigerator/ driver screen/ central dashboard/ entertainment screen/ speakers/ microph ones/ cameras / DVR/ windows/ car doors/ chassis/ powertrain / …
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自研与全球化支撑 科技长城——智能底盘 GWM Technology——Intelligent Chassis 聚焦转向、制动、悬架三大业务，软硬件全栈自研，通过线控化、域控化与AI算法深度融合，实现感知、决策、执行、协同与进化的全链路闭环，为高阶智能驾驶提供安 全、精准、舒适的整车运动控制能力。打造高安全可靠的智能底盘执行系统，致力成为全球底盘领域顶级合作伙伴 产品定位 先进底盘执行系统 核心价值 快速响应 / 舒适平顺 / 安全可靠 业务覆盖 转向 + 制动 + 悬架 工程能力 软硬件协同开发 + 系统集成 交付成果 覆盖全路况全场景，累计搭载超百万台 智能底盘产品布局 围绕“转向、制动、悬架”三大核心业务，形成从传统电控执行器到线控化、主动化产品的连续谱系。 转向类 | Steering Y向横向控制 制动类 | Braking X向纵向控制 悬架类 | Suspension Z向垂向控制 平台能力及价值 从单一底盘产品供应，升级为“硬件执行器 + 控制软件 + 车型适配”的系统化交付能力。 线控化产品演进 覆盖SbW、EMB、全主动悬架等下一代技术方向，推动 X/Y/Z三向执行系统全面线控化。 平台化组合交付 针对不同车型定位，提供转向、制动、悬架的差异化产 品组合，兼顾性能、成本与开发周期。 全场景体验升级 面向城市、高速、低附、越野、智驾等场景，提升安全 冗余、舒适平顺与整车稳定性。 坚持全栈自研和核心技术自主，形成可持续迭代、可规 模交付、可全球适配的产品能力。 P-EPS DP-EPS R-EPS SBW 1-Box iBooster ESC EMB EPB CDC EAS FASS RWS Focusing on three core domains—steering, braking, and suspension, with full-stack self- development across both hardware and software. Through deep integration of by-wire systems, domain control, and AI algorithms, it enables a full-link closed loop spanning perception, decision-making, actuation, coordination, and continuous evolution, providing safe, precise, and comfortable vehicle motion control for advanced intelligent driving. Building a highly safe and reliable intelligent chassis actuation system, with the ambition to become a top-tier global partner in the chassis domain. Product Positioning Advanced Chassis Actuation System Core Value Fast response / Smooth and comfortable ride / Safe and reliable Business Coverage. Steering + Braking+ Suspension Engineering Capability Hardware–software co-development + system integration Delivery Achievements Covering all road conditions and all scenarios, with cumulative installations exceeding one million units. Intelligent Chassis Product Portfolio Built around three core domains—steering, braking, and suspension, forming a continuous portfolio ranging from traditional elect ronically controlled actuators to by-wire and active systems. Lateral (Y-axis) control Longitudinal (X-axis) Control Vertical (Z-axis) Control Platform Capabilities & Value Proposition Evolving from a single product supplier to a systematic delivery partner, offering integrated solutions that combine hardware actuators, control software, and model-specific adaptation. Evolution of By-Wire Products All-Scenario Experience UpgradePlatform-Based Portfolio Delivery Covering next-generation technologies such as SbW, EMB, and fully active suspension, driving the comprehensive by-wire evolution of X/Y/Z-axis actuation systems. Tailored to different vehicle positioning, offering differentiated combinations of steering, braking, and suspension solutions—balancing performance, cost, and development lead time. Across scenarios such as urban driving, highways, low-adhesion, off-road and intelligent driving scenarios, it enhances safety redundancy, ride comfort and smoothness, and overall vehicle stability. Committed to full-stack self-development and ownership of core technologies, building capabilities that support continuous iteration, scalable delivery, and global adaptability. Self-Development & Global Support
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Q＆A Session 问答环节