*仅供参考 * For identification purpose only 2020年3月 Mar. 2020 1 声明 Disclaimer 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 do 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. 2 2 业绩摘要 Results Highlights 2019 VS 2018 962.11亿元 营业总收入 992.30亿元 RMB96.211 billion Total operating revenue RMB99.230 billion 105.86万辆 销量 104.37万辆 1,058,648 units Sales volume 1,043,707 units 45.31亿元 净利润 52.48亿元 RMB4.531 billion Net profit RMB5.248 billion 543.99亿元 净资产 526.89亿元 RMB54.399 billion Net assets RMB52.689 billion 33 目录 Contents 行业情况 Auto Industry Overview 公司经营情况 Operations Review 4 第一部分 Section 1 行业情况 Auto Industry Overview 55 行业运行情况 Auto Industry Overview 中国汽车市场正在经历至暗时刻 The PRC’s auto market faced its darkest hour 2018年及2019年全球销量前五国家 单位：百万台 Top 5 countries in terms of global car sales in 2018 and 2019 Mn units 千人保有量仍有增长空间 30 Room for growth for car ownership per 1,000 people 25.8 25 单位：台 units 1,000 20 900 837 17.0 800 700 15 591 589 600 500 10 400 373 5.2 300 5 3.8 3.6 200 173 100 22 0 0 中国 美国 日本 印度 德国 美国U.S. 日本Japan 德国Germany 俄罗斯Russia 中国China 印度India 2018 2019 消费不旺导致乘用车需求低迷，2019年中国车市呈现严重低迷特征，疫情过后预计汽车 销量会有所改善。 中国汽车保有量达173辆/千人，未来仍有空间；海外重点布局的俄罗斯和印度等市场也远 进入全球第四大，未来增长空间巨大的印度市场，全球化策略打开销量增长新模式。 逊于其他主流国家水平。 Low consumption led to low demand for passenger vehicles. In 2019, China's automobile market experienced a severe recession. Improvement in car sales volume is Car ownership in China reached 173 vehicles per 1,000 people. There is still room for expected after the epidemic ends. growth. The car ownership levels of Russia and India, the Company’s strategic Tapped into the world's fourth largest car market – India, which has huge growth overseas markets, were also far below those of other mainstream countries. potential; new approach to boost sales through globalization strategy. 数据来源：中国汽车工业协会、国家信息中心/ Source: CAAM, SIC 数据来源：世界银行/ Source: World Bank 6 6 行业运行情况 Auto Industry Overview 俄罗斯与印度市场 Russia and India Markets 2019年俄罗斯销量前五品牌 2019年印度销量前五品牌 Top 5 brands in terms of sales volume in Russia in 2019 Top 5 brands in terms of sales volume in India in 2019 单位：辆 units 单位：辆 units 排名 品牌 2019累计销量 增速 排名 品牌 2019累计销量 增速Growth Rank Brand Cumulative sales in Growth rate Rank Brand Cumulative sales in rate 2019 2019 拉达 1 玛鲁蒂铃木 1,511,611 -13.7% 1 Lada 362,356 +0.6% Maruti Suzuki 起亚 2 塔塔 528,567 -22.6% 2 KIA 225,901 -0.7% Tata 现代 3 现代 510,260 -7.3% 3 Hyundai 178,809 +0.3% Hyundai 马辛德拉 雷诺 4 442,438 -7.2% 4 Renault 144,989 +5.8% Mahindra 5 大众 104,384 -1.6% 丰田 Volkswagen 5 Toyota 125,889 -16.9% 哈弗品牌2019全年在俄罗斯的销量达到12,284辆，同比增长282%， 受印度经济进一步放缓的影响，印度汽车市场也出现了一定下滑， 位列在俄销售自主品牌第1位，随着更多车型的导入，哈弗品牌仍有 但并不会改变因人口红利释放推动的印度汽车市场黄金发展期。 增长空间。 Affected by further slowdown of the Indian economy, the Indian In 2019, the sales volume of Haval brand in Russia reached 12,284 automobile market has also declined to some extent; nonetheless, units, up by 282% YOY, ranking the first among China’s self-owned the car market in India will still benefit from demographic dividend brands in Russia. With the introduction of more models, there is still and enjoy a golden age of development. room for growth for the Haval brand. 数据来源：欧洲企业协会/ Source: Association of European Businesses 数据来源：各类报道/ Source: news 7 7 行业运行情况 Auto Industry Overview 2019年中国汽车市场销量前十 2019 Top 10 auto makers in terms of sales volume in China 汽车行业销量前十 乘用车销量前十企业 Top 10 auto makers in terms of sales volume Top 10 auto makers in terms of sales volume of PV 单位：百万台 单位：千台 Mn units ‘000 units 7 30% 2,500 12% 销量 市占率 销量 市占率 24.0% 6 Sales volume Market share 9.5% 9.3% Sales volume Market share 10% 25% 2,000 5 7.5% 8% 20% 1,500 6.4% 6.0% 4 14.0% 5.8% 6% 13.4% 15% 4.2% 3 1,000 3.8% 3.7% 3.3% 8.8% 4% 8.0% 10% 2 6.8% 5.3% 500 4.1% 2% 3.1% 1 2.9% 5% 0 0% SAIC CCAG GAC GACHONDA GWM DF HONDA SGMW SAIC DFL FAW 0 0% 一 上 上 浙 Geely 东 上 长 重 东 广 汽 汽 汽 江 风 汽 城 庆 风 汽 上汽 东风 一汽 北汽 广汽 长安 吉利 长城 华晨 奇瑞 - - GM - VW 大 VW 大 通 吉 汽 通 汽 长 本 本 SAIC DFG FAW BAIC GAC CCAG Geely GWM Brilliance Chery 众 众 用 利 车 用 车 安 田 田 五 菱 汽车市场，公司销量排名第8，市场份额由3.8%提升至4.1% 乘用车市场，公司排名第7，市场份额由3.9%提升至4.2% The Company ranked eighth in the auto industry in terms of sales The Company ranked seventh in the PV market, with a market volume, with a market share rising from 3.8% to 4.1% share rising from 3.9% to 4.2% 数据来源：中国汽车工业协会数据来源：中国汽车工业协会/ Source:/ CAAMSource: CAAM 数据来源：中国汽车工业协会/ Source: CAAM 8 8 行业运行情况 Auto Industry Overview SUV占比及结构变化 Sales proportion of SUV and changes in PV market composition SUV占乘用车销量比例 SUV as a proportion of PV in terms of sales volume SUV销量增速 SUV sales volume growth rate 单位：百万台 Mn units 100% 12 52.4% 60% 44.6% 50% 10 80% 36.4% 40% 29.5% 42.2% 43.6% 37.1% 41.5% 8 60% 30% 6 20% 40% 10% 4 55.4% -2.5% 49.8% 47.9% 48.6% 48.1% -6.3% 0% 20% 2 -10% 0% 0 -20% 2015 2016 2017 2018 2019 2015 2016 2017 2018 2019 轿车 SUV MPV 交叉型 销量 SUV增速 乘用车增速 Sedan SUV MPV Cross type Sales volume SUV growth rate PV growth rate SUV占比稳步提升，达到43.6%，预计SUV占比将继续提升 SUV随乘用车销量下降而下降 The sales proportion of SUV had been growing steadily, reaching 43.6%. It is expected that SUV sales proportion will continue to Sales of SUV decreased with the decrease of PV’s sales. increase . 数据来源：中国汽车工业协会/ Source: CAAM 数据来源：中国汽车工业协会/ Source: CAAM 9 9 行业运行情况 Auto Industry Overview 不同价位SUV占比及销量前十 SUV sales by price and top 10 SUV makers in terms of sales volume 不同价位SUV销量占比 SUV前十企业 SUV sales volume by price range Top 10 SUV makers 单位：千台 ‘000 units 100% 1,000 9.4% 10.0% 8.4% 90% 900 9.0% 800 8.0% 80% 6.9% 700 7.0% 70% 20% 6.2% 6.2% 20% 22% 21% 600 6.0% 60% 4.9% 500 4.3% 5.0% 50% 4.2% 4.0% 3.7% 31% 27% 27% 400 4.0% 40% 30% 300 3.0% 30% 200 2.0% 20% 100 1.0% 10% 0.0% CCAG 0 GWM Geely DF DF DF HONDA Chery SAIC FAW SAIC 0% 长 吉 上 一 长 东 奇 东 上 SAIC 上 - 2016 2017 2018 2019 城 利 汽 汽 安 风 NISSAN 瑞 风 汽 汽 - - - VW VW 大 大 日 本 股 通 GM 众 众 产 田 份 用 8万以下Below 80K 8万-10万80K-100K 10万-15万100K-150K 15万-20万150K-200K 2019 2019年市占率 20万-25万200K-250K 25万以上Above 250K 2019 market share 虽受宏观经济下行的影响，但10-15万元区间车型仍是消費主力。 本公司SUV总销量继续保持第一。 Despite the impact of the macro economic downturn, SUV models priced from RMB100,000 to RMB150,000 were the major contributor to total The Company's total SUV sales volume continued to rank first. SUV sales. 数据来源：保险数/ Source: Insurance statistics 数据来源：中国汽车工业协会/ Source: CAAM 10 10 行业运行情况 Auto Industry Overview 皮卡市场前十车型及企业 Top 10 models and makers in the pick-up truck market 皮卡前十企业 皮卡前十车型 Top 10 pick-up truck makers Top 10 pick-up truck models 单位：千台 单位：千台 ‘000 units ‘000 units 80 75.7 20.0% 160 32.9% 35% 19.4% 140 30% 60 15.0% 120 25% 47.7 100 12.2% 20% 40 10.0% 80 13.1% 15% 25.2 25.0 60 10.1% 19.5 18.7 20 6.5% 6.4% 15.6 15.1 5.0% 10% 13.1 12.4 40 6.9% 5.0% 4.8% 5.9% 5.7% 5.3% 4.0% 3.9% 4.7% 3.4% 4.2% 3.5% 3.2% 20 5% 0 0.0% 风 风 域 瑞 域 纳 锐 神 大 长 6 RICH6 6 3 YU YU 3 3HU T60MAXUS T60 5 Wingle Wingle 5 5 Wingle 7 7 F30 Shenqi F30Shenqi F30 5 YU YU HU5 5 骏 骏 虎 迈RUI MAI 虎 瓦 骐 骐 通 城 NISSAN HUANGHAI ISUZU 0 JMC 0% JAC DORCEN GWM MAXUS FOTON ZX Greatwall Pao 拉NAWARA 炮 长 江 日 五 上 大 中 江 黄 福 城 铃 产 十 汽 乘 兴 淮 海 田 铃 大 通 2019 2018 2019 2019年市占率 2019年市占率 2019 market share 2019 market share 风骏5、风骏7持续蝉联销量冠亚军，上市仅两个月的长城炮强势杀入前十。 龙头地位凸显，未来市场增长可期。 Wingle 5 and Wingle 7 continued to rank first and second in terms of The Group’s leading position is entrenched, and there is room for sales volume respectively, and the Great Wall Pao, which has been growth in market share in future.