五菱汽車：二零二五年年報.pdf

1、五菱汽車集團控股有限公司(Incorporated in Bermuda with limited liability)（於百慕達註冊成立之有限公司）香港聯交所股份代號CORPORATE PROFILEWuling Motors Holdings Limited(“Wuling Motors Holdings”or the“Company”)and its subsidiaries(collectively referred to as the“Group”)are principally engaged in the businesses of trading and manufacturi

2、ng of automotive components,vehicles power supply systems,and commercial vehicles assembly,with our principal subsidiaries being recognised as High-Tech Enterprises in China.Our Groups corporate goal is to grasp the tremendous business opportunities arising from the rapidly growing global automobile

3、 related and other high-end manufacturing value supply chain industry,with our main production facilities located in Liuzhou Guangxi,Shandong,Chongqing,Hubei,Jiangsu,India and Indonesia.五菱汽車集團控股有限公司（五菱汽車控股 或 本公司）及其附屬公司（統稱 集團或 本集團）的主要業務為從事汽車零部件、汽車動力系統及商用整車之銷售及製造業務，其中主要附屬公司已獲認可為中國之高新技術企業。本集團以把握全球汽車相關及

4、其他高端製造價值產業鏈市場迅速發展所帶來的重大商機為集團的經營發展目標，主要製造設施設於廣西柳州、山東、重慶、湖北、江蘇、印度及印度尼西亞。公司簡介Note：The percentage of shareholding interests in Liuzhou Wuling New Energy Motors Company Limited(“Wuling New Energy”)are calculated based on the fully paid up share capital of Wuling New Energy as contributed by the respectiv

5、e shareholders as of 31 December 2025.附註：柳州五菱新能源汽車有限公司（五菱新能源）持股百分比乃按截至二零二五年十二月三十一日五菱新能源各股東全部繳足股本計算。WULING MOTORS HOLDINGS五菱汽車控股00305.HKGUANGXI AUTOMOBILE廣西汽車WULING INDUSTRIAL五菱工業DRAGON HILL俊山WULING NEW ENERGY(Note)五菱新能源（附註）13.36%12.34%56.54%60.9%39.1%10.81%65.80%COMMERCIALVEHICLES ASSEMBLY商用整車AUTOMO

6、TIVE COMPONENTS AND OTHER INDUSTRIAL SERVICES汽車零部件及其他工業服務VEHICLES POWERSUPPLY SYSTEMS汽車動力系統GROUP STRUCTURE集團架構CONTENTS 目錄2CHAIRMANS STATEMENT主席報告書20OPERATION REVIEW經營回顧BY MAIN BUSINESS SEGMENTS按主要業務分部劃分42FINANCIAL REVIEW財務回顧50DIRECTORS AND SENIOR MANAGEMENTS BIOGRAPHIES董事及高級管理人員簡介59CORPORATE GOVERNA