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GAC 2020 Mid-Term Results Presentation

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GAC 2020 Mid-Term Results Presentation GAC 2020 Mid-term Results Presentation August 28 t h , 2020 Disclaimer The presentation has been prepared by Guangzhou Automobile Group Co., Ltd. (“GAC” or the “Company”) without independent verification. The presentation does not express or imply any representations or warranties, and shall not be relied upon for the accuracy, fairness or completeness of the information described or contained herein. The Group and any of its affiliates, advisors or representatives shall not be liable for any loss arising in any way from any information described or contained herein. You are advised against relying upon any prospective remarks contained in the presentation. Content 1 Industry Development Overview 2 Operation Results Overview 3 Financial Results Overview 4 Outlook in 2020 H2 Part 1. Industry Development Overview Auto industry was hit hard by COVID-19 Sales and Growth Rate of China Auto Market Monthly Auto Sales and Growth Rate of China in 2020H1 (10,000 units) (10,000 units) 14% 13.70% 6.90% 3% 4% 4.70% 3.00% 14.69% 11.87% -2.80% 4.49% -8.23% 2,888 2,808 2,803 2,577 2,460 -18.59% 2,349 2,198 230 219 1,931 Dropped 207 1,851 16.9% YoY 193 -43.25% 1,232 143 1,026 -79.08% 31 2011 2012 2013 2014 2015 2016 2017 2018 2019 2019H1 2020H1 Jan Feb Mar Apr May Jun PV CV Monthly Sales Annual Growth PV CV TGortoawl tCh arra tSea olef sto Gtarlo swatlehs R vaotleume Automobile growth rate YoY uIn 2020H1, the automotive industry was struggling forward. Affected by the COVID-19, the domestic auto market has declined severely. The automobile production and sales was hit hard especially in February and March. uSince March, driven by the continuous promotion of automobile consumption policies in various regions, auto production and sales have shown a rebounding momentum. The automobile sales data in the second quarter turned positive year-on-year growth, and the market performed better than expected. uFrom January to June, the cumulative sales of automobiles reached 10.257 million, declined by 16.9% YoY, of which PV sales drop by 22.4% YoY to 7.873 million, while CV sales up by 8.6% YoY to 2.384 million. Source: CAAC Sales in all segments dropped, market share of Japanese and German brands continued to expand uIn 2020H1, all PV segments have shown a double-digit decline. The YoY decline in the sedan market and the MPV market has significantly expanded (decline by 26% and 45.7%, respectively); the SUV market has a year-on-year decline of 14.9%, but the sales volume surpassed that of sedan for the first time, ranked the top in terms of market share. uThe sales of Japanese and German brands have grown against the trend, while other brands have declined to varying degrees. The largest decline is in French brands. Proprietary brands, German brands, and Japanese brands continue to rank among the top3 in terms of market share respectively, among them, the market share of proprietary brands decreased by 3.3% YoY. With the continuous sales rise, Japanese brands have reached a market share of 23.7%, further narrowing the gap with German brands. China's PV Segment Sales in 2020H1 Market Share of Various Brands in 2020H1 (10,000 units) 0.3% ， Minivan 1.9% ， 4.2% Minivan -19.8% 9.3% ， MPV,6.6% MPV -45.7% Minivan，2% SUV，-14.9% MPV,4.6% SUV,42.5% 9.6% 4.6% 0.7% 36.3% SUV,46.7% 2019H1 39.3% 21.4% Sedan，-26% 23.7% Proprietary Sedan，46.7% Sedan，49% 23.1% German Japanese 2020H1 US South Korean 2019H1 2020H1 French 25.0% Sedan SUV MPV Minivan Source: CAAC NEVs sales declined severely uIn 2020H1, new energy vehicles(NEVs) dropped 37.4% YoY to 393,000 units. Among them, 352,000 new energy passenger vehicles were sold, declined by 38.5% YoY; 40,000 new energy commercial vehicles were sold, declined by 25.2% YoY; uFrom the perspective of sales trends, February 2020 was the lowest point in the sales of new energy vehicles in 2020H1, mainly due to the epidemic outbreak. However, the sales of new energy vehicles showed a recovery growth trend since March 2020. China's NEVs Sales Volume in Recent Years Monthly Sales Volume of China's NEVs in 2020H1 (10,000 units) (10,000 units) 125.6 120.6 2.0 Fell by 37.4% YoY 77.6 1.7 105.3 106.0 61.7 2.0 57.8 1.2 39.3 1.2 7.2 56.3 5.7 4.3 3.5 35.2 2.9 19.8 20.3 14.6 0.2 5.4 4.0 0.9 2017 2018 2019 2019H1 2020H1 Jan Feb Mar Apr May Jun CV PV PEV HEV Source: CAAC Part 2. Operation Results Overview Main operating results of GAC in 2020H1 The "dual battle" of epidemic prevention & control and business development has achieved positive results. The epidemic prevention & control is generally stable. Meanwhile, the work and production resumption have been fully promoted, leading the gradual stabilization and improvement Group’s business. 797,000 vehicles were produced, decreased 305,000 and 321,000 motorcycles were by 15.9% YoY, and 825,000 vehicles were produced and sold, dropped by 19.7% and sold, decreased by 17.5%. 14.4% respectively Domestic PV market share rose 0.62 The sales network covers 31 provinces, percentage point to 10.47% compared with c i t i e s , a u t o n o m o u s r e g i o n s a n d 2019. municipalities with 2533 4S stores The total automobile production capacity reached 2.733 million units per year, an increase of 120,000 units compared with 2019 Y/E (Phase II of GAC Honda’s Zengcheng Factory) CV, 1.5 GAC Honda, 77 GAC Toyota, 60 GAC FCA, GMMC, 20 GAC Motor (incl. NEV) 82 32.8 Withstand severe tests and actively carry out business recovery Make every effort to prevent & control the epidemic and produce masks u Implement epidemic prevention measures. No mass epidemics occurred among the Group's 100,000 employees. u Mobilize resources to produce over 70 million masks, ensuring that the Group and Guangzhou can survive the most stressful moments. Efficiently promote work and production resumption u Promote the work & production resumption in phases. In early April, more than 5,000 parts, logistics suppliers and dealers of the Group realized operation resumption. u Strive to ensure the supply of domestic & overseas parts and components. The overall capacity utilization rate of the Group has returned to normal level, with that of GAC Honda and GAC Toyota exceeded 120%. Actively take measures to carry out business recovery u Launch new products as planned. Innovate marketing models to boost sales and grab orders. u A series of active recovery measures have been adopted. Since the second quarter, GAC’s main operating indicators have continued to improve, and the cumulative decrease has continued to narrow. Manage cadence with flexibility, subsidiaries develop with own highlights Ø Focus on the retail sales and launch new Ø Production and sales increased by products 87% YoY Ø All-staff sales promotion, sales increase Ø Sales ranks among the tops in the month by month industry GAC MOTOR’s monthly sales volume in 2020H1 GAC NEVs’ monthly sales volume in 2020H1 MoM(%) MoM(%) Jun 4138 0.83% Jun 22349 1% 22537 3% May 4084 23% May Apr 3950 4% Apr 18321 14% Mar 3458 331% Mar 17644 118% 1583 87% Feb 4095 46% Feb 2949 Jan 32739 Jan 0 5000 10000 15000 20000 25000 30000 35000 0 1000 2000 3000 4000 5000 Manage cadence with flexibility, subsidiaries develop with own highlights Ø Zengcheng Plant Phase II with capacity expansion Ø Sales rank at the forefront among domestic of 120,000 units/year is completed and put into joint venture auto companies production Ø Market share has increased by 1.11 Ø Production in June hits a record high percentage point GAC Honda's monthly sales volume in 2020H1 GAC Toyota's monthly sales volume in 2020H1 MoM(%) MoM(%) 37% Jun 83293 0.47% Jun 67181 15% May 60724 6% May 67500 119% Apr 71730 29% Apr 63607 32735 49480 337% Mar 800% Mar Feb 7484 Feb 5500 88% 92% Jan 62485 Jan 67620 0 20000 40000 60000 80000 100000 0 20000 40000 60000 80000 Manage cadence with flexibility, subsidiaries develop with own highlights Ø Stabilize network, reduce inventory, Ø Reshape the Jeep brand and stabilize prices GAC FCA's monthly sales volume in 2020H1 GMMC's monthly sales volume 2020H1 MoM(%) MoM(%) Jun 3158 6000 10% 14% Jun May 3523 0.4% 40% May 7001 Apr 3509 30% 145% Apr 5000 5007 1484% Mar 484% Mar 2043 85% 316 Feb 96% Feb 350 2064 Jan Jan 8279 0 1000 2000 3000 4000 5000 6000 0 2000 4000 6000 8000 10000 Actively seek innovation and change, and take multiple measures to seize market Fix on the market change and launch innovative products GS4 PHEV GS4 COUPE GM8 Master Crider Sport•hybrid Wildlander C-HR EV HYCAN 007 AION V Actively respond to automobile promotion policies • Respond rapidly to the government's policy of promoting automobile consumption • Increase subsidies by automakers • Introduce special promotion policies in time and adopt targeted strategies for key cities • Focus on taking the opportunity of Guangdong Build a new pattern of digital Province’s Auto Incentive Policies to the marketing Countryside • Promote revolution in marketing modes • Vigorously carry out online marketing, "CEO selling", "Cloud launch", "GAC 628 Super Brand Day" • Create the nationwide marketing mode, for example: GAC New Energy Aion Partner Continue to strengthen innovation and reinforce self-development foundation Continuous integration of R&D, production and sales •Improve BOD operating mechanism of the proprietary brand and promote the coordination of R&D, production and sales •Establish chief director mechanism to smooth the relationship among product planning, development, production and sales Continuously consolidate development foundation •Solid advancement of QDR project, promote cultivation and quality improvement of new models
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