五菱汽车：2025年中期报告

(Incorporated in Bermuda with limited liability)（於百慕達註冊成立之有限公司） 公司簡介 CORPORATE PROFILE Wuling Motors Holdings Limited (“Wuling Motors”or the“Company”) and its subsidiaries (collectively referred toas the“Group”) are principally engaged in thebusinesses of trading and manufacturing of automotivecomponents, vehicles’power supply systems andcommercial vehicles assembly, with our principlesubsidiaries being recognised as High-Tech Enterprisesin China. Our Group’s corporate goal is to grasp thetremendous business opportunities arising from therapidly growing global automobile supply chainindustry, with our main production facilities located inLiuzhou, Qingdao, Chongqing, Jingmen, Nanning,India and Indonesia. GROUP STRUCTURE集團架構 NoteThe percentage of shareholding interests in LiuzhouWuling New Energy Vehicles Company Limited(“Wuling New Energy”) are calculated based on thefully paid up share capital of Wuling New Energy ascontributed by the respective shareholders as of30 June 2025. WULING MOTORS HOLDINGS LIMITED > INTERIM REPORT 2025五菱汽車集團控股有限公司>二零二五年中期報告 CONTENTS目錄 權益披露 簡明綜合財務狀況表 MESSAGES FROM THE BOARD OF DIRECTORS董事會致辭 前言 PREFACE We hereby present the unaudited results of WulingMotors Holdings Limited (the“Company”, together withits subsidiaries, collectively the“Group”) for the six monthsended 30 June 2025. Facing a difficult market environment characterized byintensifying market competition and economicdownturn, the Group adhered to the business strategyof“Stabilising Growth, Enhancing Effectiveness andExploring New Horizons”, and innovatively drove our longestablished core businesses with competitive edge tomove toward to the middle and high end of theindustrial and value chains, accompanied by thetransformation and upgrading processes of digitalisation,intelligentisation and greenness, so as to conscientiouslypromoting our aim of high-quality development andrewarding to our shareholders. 4,025,400,0002% The unfavourable economic environment prevailedduring the period and the Group’s repositioning strategyof the commercial vehicles assembly division continuedto adversely affect the business volume of the vehicles’power supply systems and the commercial vehiclesassembly divisions. However, a rebound in business fromthe major customer and growing business contributedb yn e w c u s t o m e r s b e n e f i t e d t h e a u t o m o t i v ecomponents and other industrial services division,allowing the Group in achieving a modest growth intotal revenue amid the prevailing tough and keenlycompetitive business environment during the period. TheGroup’s total revenue for the six months ended 30 June2025 was RMB4,025,400,000, representing an increase of2% as compared to the corresponding period in 2024. 483,347,00013.5%10.8%12% In line with the improvement in the business volume ofthe automotive components and other industrial servicesdivision and the effective cost control measuresimplemented, profitability performance continued to beimproved. Gross profit for the period under review wasRMB483,347,000, representing an increase of 13.5%.Hence, gross profit margin for the period also furtherimproved to 12% from 10.8% as recorded in thecorresponding period of last year. MESSAGES FROM THE BOARD OF DIRECTORS董事會致辭 85,809,000306%39,416,000 Despite an increase in the loss attributable for the periodfrom our associate, Wuling New Energy, due to itsoperation was still at the development phase, benefitedfrom the positive factors of the continuous improvementof the business performance of the Group’s core mainbusiness segments, in particular the automotivecomponents and other industrial services division, andthe steady business development as experienced by ourother associates and joint ventures, the Group recordeda net profit of RMB85,809,000 for the first half of 2025,representing a significant increase of 306% over thecorresponding period of last year. Meanwhile, profitattributable to the owners of the Company alsoimproved significantly to RMB39,416,000 during theperiod under review. 一、二零二五年上半年主要工作開展情況 I.MAJOR TASKS IN THE FIRST HALF OF2025 (i)Concentrating efforts on core businessesto ensure the high-quality implementationof the“LINXYS Project” 1. 1.The component and part business seizedthe opportune moment to embark on anew journey of advancement For the component and part business,the Group adopted the core strategy of“stabilising existing business, capturingincremental growth, and expandingnew openings”, actively addressing thec h a l l e n g e so f i n t e n s i f i e d m a r k e tcompetition and an exclusive suppliermarket. During the first half of the year,the segment secured a total of 125designated projects from 46 customers.In terms of stabilising existing business,the Group undertook 103 new productprojects to existing customers such asSGMW, Great Wall Motors, Beiqi Foton,and Chery, including front and rear axlesand control arms, while ensuring efficientand quality-assured supply. In terms