2 3 4 7 12 19 25 26 31 66 1 2015 2015 6 30 10 0.8 2015 2 Guangzhou Automobile Group Co., Ltd. GAC GROUP 23 020-83150886 020-83150319 lus@gagc.com.cn 448-458 23 510030 23 510623 www.gagc.com.cn ir@gagc.com.cn www.sse.com.cn 23 22 A 601238 H 02238 3 2015 GDP 7% CPI 1.3% SUV MPV 1,209.5 1,185.03 2.64% 1.43% 6.96 6.93 1,032.78 1,009.56 6.38% 4.80% 5.67 6.38 SUV MPV 45.9% 17.9% 5.89% 176.72 175.47 14.86% 14.41% 7.27 2.4 954.19 959.79 8.0% 7.9% 57.41 1.20% 56.93 13.01% 51.92 53.10 10.43% 15.34% 952.35 2.47% 114.50 6.35% 17.50 1.45% 2015 4 12 1.5L SUV GS4 3+ e + 863 GA5 REV A3X 5 2015 GDP 7.1% 2015 3% 7% 8% 1. + 2. 3. 4. 5. 6. 2015 6 ( ) 1. Accord Crider VEZEL Crosstour Odyssey City Fit Everus Camry Highlander Yaris L E’Z Levin Viaggio Ottimo ASX Pajero Trumpchi (GA5 G A6 G S5 G S5 G A3 G A3S G S4) G5 MPV SUV SUV MPV Accord 155 7 2015 2. 125 3. HVAC HVAC 4. 2015 8 ( ) 1. 10 200 4S 500 12 8% 15.3% 1.5L GS4 2. 3+ e 9 2015 3. 10 4. SUV A 20 213 38 110 2015 10 5. 20 5 6. 89 74 300 e 11 2015 952.35 22.92 2.47% 114.50 6.35% 17.50 0.27 1.45% 1 1.5L GS4 2 ( ) 1. (%) 114.50 107.66 6.35 103.75 97.05 6.90 7.13 5.95 19.83 6.31 6.41 -1.56 4.47 3.59 24.51 1.70 1.55 9.68 19.16 21.30 -10.05 -1.94 -4.64 58.19 -1.04 -5.54 81.23 8.93 -26.52 133.67 2015 12 2. 114.50 6.35% 3. 103.75 6.70 6.90% 10.75 0.14 0.47% 4. (1) 1.18 (2) 0.1 (3) 0.88 (4) 0.15 5. (1) 1.94 4.64 2.70 13 2015 (2) 1.04 5.54 4.50 (3) 8.93 26.52 35.45 67 (4) 2015 6 30 108.66 2014 6 30 104.15 4.51 6. 19.16 2.14 a b 7. 0.81 0.11 17.50 0.27 1.45% 2015 14 ( ) 1. (%) (%) (%) (%) 109.52 100.35 8.37 5.31 6.00 0.60 4.98 3.40 31.73 35.69 42.86 3.42 114.50 103.75 9.39 6.35 6.90 0.47 0.47% 2. (%) 114.48 6.33 0.02 272.57 114.50 6.35 15 2015 ( ) 1. 2. (1) (2) (3) 3. SUV MPV 4. A H 2015 16 ( ) 1. (%) (%) (%) 16.94 2.64 15.01 2.41 12.86 89.35 13.94 85.36 13.69 4.67 43.40 6.77 39.97 6.41 8.58 185.69 28.98 186.93 29.97 -0.66 9.51 1.48 8.67 1.39 9.69 26.23 4.09 26.61 4.27 -1.43 49.81 7.77 55.15 8.84 -9.68 37.67 5.88 11.28 1.81 233.95 55.39 8.64 74.22 11.90 -25.37 7.04 1.10 6.74 1.08 4.45 108.66 16.96 102.68 16.46 5.82 2. 233.95% 17 2015 ( ) 1. 2015 6 30 1.47 2014 12 31 1.33 1.15 2014 12 31 1.15 2. 2015 6 30 273.64 186.28 1.47 2015 6 30 150.68 6 60 40 45.24 28.73% + / + + 3. 4. 2015 6 30 95,833,908.22 2014 12 31 12,637,594 2015 6 30 0 2014 12 31 0 2015 18 1. 2014 12 11 100% 50 2015 2 6 100% 2014-074 19 2015 1. H 2015 3 3 H H 11,949,962 2015-016 1. 2014 12 11 100% 50 2015 2 6 100% 2014-074 2015 20 1. 2. 2014 2014 2019 8,443,050 7 25 9 19 9 19 2014 2014 2016 1,494,908.4 12 1 12 1 11 30 2014 2014 2016 185,949.82 2 26 2 26 2 25 2015 2015 2018 4,220,000 3 26 3 26 3 25 2015 2015 2018 81,490,000 3 26 3 26 3 25 85,710,000 (A) 95,833,908.22 0 (B) 0 (A+B) 95,833,908.22 (%) 0.26% 21 2015 3. 2014 9 19 2014 A H A 60 A 2 9 4 2 2 1 2015 22 2014 1. 2015 6 25 2014 10 0.8 2. 5 2015 10 0.8 14 14A 2014 5 2015 6 30 23 2015 1. 2. 3. 2015 6 30 63,081 CPI 2015 24 336 5% 1 (%) (%) 2 A 3,679,503,529 (L) 87.16 58.81 H 79,276,000 (L) 3.58 1.23 H 532,418,508 (L) 24.06 8.27 Massachusetts Financial H 238,323,362 (L) 10.77 3.70 Services Company Sun Life Financial Inc. H 238,323,362 (L) 10.77 3.70 BlackRock, Inc. H 134,589,289 (L) 6.08 2.09 166,000 (S) 0.01 0.003 1. (L) (S) (P) 2. 2015 6 30 A 3,705,129,384 A 87.76% H 79,276,000 H 3.58% A H 3,784,405,384 58.81% 25 2015 2015 6 25 2015 26 2015 6 30 7 8 352 1. 536,597 536,597 0 9,481 9,481 0 87 87 0 546,165 546,165 0 27 2015 2. H H 2012 1 14 2015 6 30 H 2015 2015 6 30 6 30 (%) (%) 2012 2 29 740,000 0 493,334 246,666 0.011 0.004 2012 2 29 580,000 0 386,666 193,334 0.009 0.003 2012 2 29 550,000 0 366,666 183,334 0.008 0.003 2012 2 29 550,000 0 366,666 183,334 0.008 0.003 2012 2 29 550,000 0 366,666 183,334 0.008 0.003 2012 2 29 500,000 0 333,334 166,666 0.008 0.003 2012 2 29 550,000 0 366,666 183,334 0.008 0.003 2012 2 29 500,000 0 333,334 166,666 0.008 0.003 2015 6 30 2015 6 30 18 3. A A 2014 9 19 A 2015 28 A 7.6 A A 8.37 A A A A A A A 0 95.00 0 0 7.6 95.00 0 90.00 0 0 7.6 90.00 0 81.00 0 0 7.6 81.00 0 76.00 0 0 7.6 76.00 0 76.00 0 0 7.6 76.00 0 74.00 0 0 7.6 74.00 0 74.00 0 0 7.6 74.00 0 74.00 0 0 7.6 74.00 0 5,800.86 0 0 7.6 5,800.86 612 0 6,440.86 0 0 / 6,440.86 29 2015 1. A 40% 2. A 5% 3. A 1% A 10 A A 24 24 36 2015 30 7 1,693,559 1,501,392 7 8,935,147 8,535,881 7 364,768 342,232 7 4,339,516 3,997,256 8 18,569,189 18,692,856 434,501 481,411 1,351,995 899,626 79,802 79,639 951,350 867,290 36,719,827 35,397,583 2,623,202 2,660,569 9 4,980,555 5,514,858 2,415,452 227,950 110,000 110,000 29,697 – 5,539,279 7,422,367 704,171 674,180 10,866,099 10,268,354 27,268,455 26,878,278 95,922 95,922 27,364,377 26,974,200 64,084,204 62,371,783 31 2015 10 6,435,019 6,435,019 10,848,716 10,848,026 19,324,475 18,089,648 17 514,802 514,802 18,809,673 17,574,846 36,608,210 35,372,693 766,294 795,956 37,374,504 36,168,649 11 118,867 1,151 12 6,860,072 4,769,367 43,814 34,882 220,763 186,256 837,776 989,817 8,081,292 5,981,473 11 10,403,567 10,644,529 16,922 36,615 12 8,207,919 9,540,517 18,628,408 20,221,661 26,709,700 26,203,134 64,084,204 62,371,783 8,735,969 6,752,539 45,455,796 42,150,122 2015 32 6 11,449,667 10,766,397 (10,374,780) (9,705,066) 1,074,887 1,061,331 (712,550) (595,185) (630,771) (641,427) 113,479 107,286 431,718 56,205 13 276,763 (11,790) 14 (446,759) (359,089) 56,334 47,271 8 1,916,124 2,129,634 1,802,462 1,806,026 15 (81,194) (92,434) 1,721,268 1,713,592 21,599 (433) 1,742,867 1,713,159 33 2015 1,749,629 1,725,401 (28,361) (11,809) 1,721,268 1,713,592 1,760,142 1,723,944 (17,275) (10,785) 1,742,867 1,713,159 16 0.27 0.27 16 0.27 0.27 17 514,802 514,802 2015 34 6,435,019 10,848,026 18,089,648 35,372,693 795,956 36,168,649 – – 1,749,629 1,749,629 (28,361) 1,721,268 – 10,513 – 10,513 11,086 21,599 – 10,513 1,749,629 1,760,142 (17,275) 1,742,867 – – (514,802) (514,802) (29,444) (544,246) – 2,349 – 2,349 563 2,912 – 2,349 (514,802) (512,453) (28,881) (541,334) – – – – 2,700 2,700 – (12,172) – (12,172) 12,172 – – – – – 1,622 1,622 – (9,823) (514,802) (524,625) (12,387) (537,012) 6,435,019 10,848,716 19,324,475 36,608,210 766,294 37,374,504 6,435,019 10,562,909 16,313,263 33,311,191 805,005 34,116,196 – – 1,725,401 1,725,401 (11,809) 1,713,592 – (1,457) – (1,457) 1,024 (433) – (1,457) 1,725,401 1,723,944 (10,785) 1,713,159 – – (643,502) (643,502) (18,450) (661,952) – 1,530 – 1,530 401 1,931 – 1,530 (643,502) (641,972) (18,049) (660,021) – – – – 3,850 3,850 – 1,530 (643,502) (641,972) (14,199) (656,171) 6,435,019 10,562,982 17,395,162 34,393,163 780,021 35,173,184 35 2015 134,723 (164,243) 194,631 303,414 (373,940) (552,160) (149,414) (51,113) (194,000) (464,102) (1,711,904) (1,785,173) 78,966 113,755 (76,781) – (5,500) – 31,846 53,046 (648,200) (60,000) (49,192) (6,690) (13,717,889) (409,052) 11,204,095 652,671 (500,000) (534,180) 681,196 17,500 18,356 11,731 2,707,250 2,547,009 1,883,087 (1,154,708) – (327) (104,670) (554,418) 2015 36 64,831 3,850 (28,413) (13,383) 2,242,493 4,522,113 (2,365,767) (1,462,647) 1,979,382 998,080 – (6,700,347) (1,000,000) – 892,526 (2,652,334) 593,856 (3,670,854) 10,268,354 14,083,345 3,889 2,509 10,866,099 10,415,000 38 65 37 2015 1 448–458 23 3,499,665,555 1 435,091,902 1 3,934,757,457 2,213,300,218 2,213,300,218 29% 286,962,422 2 34 2015 38 3 (a) 19 (b) 1 16 38 16 41 27 10 12 28 10 28 11 14 15 9 39 2015 3 (b) 4 5 5.1 5.2 5 4.70% 2,000,000,000 1,000,000,000 2015 40 5 5.3 1 1 2 3 1 2 3 20,007 – – 20,007 9,690 – – 9,690 93,010 – – 93,010 192,666 – – 192,666 – – 2,374,930 2,374,930 436,234 – 500,000 936,234 751,607 – 2,874,930 3,626,537 41 2015 5 5.3 1 2 3 101,374 – – 101,374 63,142 – – 63,142 – – 198,000 198,000 98,453 – 500,000 598,453 262,969 – 698,000 960,969 500,000 198,000 – – 698,000 – 13,007,630 – – 13,007,630 – (10,830,700) – – (10,830,700) 500,000 2,374,930 – – 2,874,930 – – – – – 2015 42 5 5.3 3 2,374,930 3.40%-4.70% 3 6% 6 43 2015 6 10,977,158 511,024 (38,515) 11,449,667 (24,946) (13,569) 38,515 – 10,952,212 497,455 – 11,449,667 (101,450) 36,581 (20,115) – (84,984) 69,405 69,405 300,210 300,210 (7,868) (7,868) 276,763 (151,968) (1,613) – (293,178) (446,759) 20,552 833 – 34,949 56,334 1,741,657 174,467 – – 1,916,124 1,802,462 (67,960) (13,219) – (15) (81,194) 1,721,268 2015 44 6 10,417,106 408,368 (59,077) 10,766,397 (17,522) (41,555) 59,077 – 10,399,584 366,813 – 10,766,397 15,694 (33,759) – – (18,065) 54,450 54,450 (48,175) (48,175) (11,790) (116,502) (867) – (241,720) (359,089) 19,891 710 – 26,670 47,271 2,033,581 96,053 – – 2,129,634 1,806,026 (90,146) 4,669 – (6,957) (92,434) 1,713,592 45 2015 6 41,043,796 4,851,758 (1,396,845) 19,585,495 64,084,204 40,237,161 4,523,232 (1,041,437) 18,652,827 62,371,783 14,238,911 1,273,991 (1,396,845) 12,593,643 26,709,700 14,102,049 1,488,739 (971,456) 11,583,802 26,203,134 7 1,501,392 8,535,881 342,232 3,997,256 210,024 977,406 27,189 654,209 – (186,889) – – (17,857) (391,251) (4,653) (311,949) 1,693,559 8,935,147 364,768 4,339,516 1,150,803 7,366,265 143,474 3,083,630 207,708 1,021,619 1,792 415,582 – (19,533) – – (11,900) (312,913) (2,538) (229,382) 1,346,611 8,055,438 142,728 3,269,830 2015 46 8 13,404,220 13,424,452 5,164,969 5,268,404 18,569,189 18,692,856 1,453,226 1,576,447 462,898 553,187 1,916,124 2,129,634 8.1 (a) 13,424,452 13,200,531 648,200 60,000 1,421,983 1,547,378 (25,756) (57,471) (2,064,659) (1,908,710) 13,404,220 12,841,728 47 2015 8 8.1 (b) % 50 1 50 1 50 1 50 1 50 1 50 1 50 1 1 (c) 90 2015 48 8 8.1 (c) 27,055,254 26,490,675 10,456,308 15,521,723 41,701,188 46,339,877 52,157,496 61,861,600 79,212,750 88,352,275 8,746,232 6,564,689 2,619,137 2,011,747 11,365,369 8,576,436 12,708,828 15,976,893 33,979,158 42,636,068 46,687,986 58,612,961 58,053,355 67,189,397 21,159,395 21,162,878 (18,055) (17,593) 21,141,340 21,145,285 49 2015 8 8.1 (c) 65,366,474 62,129,970 (56,144,358) (52,048,779) (6,332,554) (6,936,924) 2,889,562 3,144,267 (461) 3,576 2,889,101 3,147,843 – – 2,889,101 3,147,843 2015 50 8 8.1 (c) 23,172,270 27,059,753 15,248,956 20,130,422 28,997,201 22,446,515 – – 15,745,421 18,208,011 10,528,729 10,889,619 24,996,906 26,944,738 1,972,229 1,828,607 7,073,238 7,217,416 5,909,607 6,710,946 1,721,865 3,221,695 – – 5,049,715 6,041,169 3,583,232 4,674,263 3,339,200 3,753,274 – – 1,662,164 1,576,808 1,385,683 1,302,168 535,330 607,623 – – 18,434,498 20,435,930 16,168,797 18,412,622 942,680 787,311 – – 2,883,763 3,067,617 1,722,692 1,822,247 2,835,285 2,551,567 92,430 78,210 74,021,069 83,606,704 54,547,696 63,942,287 63,368,467 60,312,723 2,064,659 1,906,817 51 2015 8 8.1 (c) 74,021,069 83,606,704 (54,547,696) (63,942,287) (18,054) (17,593) 19,455,319 19,646,824 50% 50% 9,727,660 9,823,412 2,916,552 2,916,552 2,895,293 2,895,293 21,259 21,259 12,644,212 12,739,964 2015 52 8 8.2 (a) 5,268,404 5,224,015 104,028 6,690 462,898 553,187 – (129,610) (670,361) (730,889) 5,164,969 4,923,393 (b) 462,898 553,187 – – 462,898 553,187 53 2015 9 2 170 541,901 793,388 87,589 189,692 49,712 62,050 22,962 26,400 140,510 137,340 842,674 1,208,870 (149,713) (149,576) 692,961 1,059,294 10 1 H 4,221,719 4,221,719 2,213,300 2,213,300 6,435,019 6,435,019 2015 54 11 4,774,273 4,545,382 136,788 32,686 12,576 5,716 11,470 17,551 4,935,107 4,601,335 12 314,947 187,617 (a) 6,545,125 4,561,750 – 20,000 6,860,072 4,769,367 4,089,194 3,871,136 120,200 674,500 (b) 3,998,525 4,994,881 8,207,919 9,540,517 (c) 15,067,991 14,309,884 55 2015 12 (a) 600,000,000 6.02% 4,000,000,000 5 10 5 1,000,000,000 4.89% 10 3,000,000,000 5.09% 2,000,000,000 5 4.70% (b) 1,000,000,000 4,000,000,000 5.15% 4.95% 365 1,000,000,000 (c) 14,309,884 14,171,893 5,393,624 6,858,927 (4,639,974) (9,822,856) 4,457 2,719 15,067,991 11,210,683 2015 56 13 725,710 556,733 (16,410) 2,270 (29,818) 1,547 1,320,771 1,035,557 (2,409) (943) (482,440) (194,372) 496 2,053 1,515,900 1,402,845 14 419,957 337,002 26,802 22,087 446,759 359,089 57 2015 15 32,667 43,692 48,527 48,742 81,194 92,434 25% 25% 16 (a) 1,749,629 1,725,401 6,435,019 6,435,019 0.27 0.27 2015 58 16 (b) 1,749,629 1,725,401 6,435,019 6,435,019 19,809 – 6,454,828 6,435,019 0.27 0.27 59 2015 17 0.08 0.08 514,802 514,802 0.08 0.08 514,802,000 514,802,000 18 1,777,025 310,225 523,810 10,015 2,300,835 320,240 – 277 1,659,764 745,629 1,659,764 745,906 1,564,799 2,150,127 5,525,398 3,216,273 2015 60 19 95,834,000 12,638,000 20 24 61 2015 20 (a) 243,176 554,802 144,078 154,192 387,254 708,994 1,698 1,822 443 336 2,141 2,158 389,395 711,152 276,861 270,029 165,907 191,472 442,768 461,501 725,811 367,390 126,614 258,364 852,425 625,754 2,051,815 1,866,107 2,904,240 2,491,861 2015 62 20 (a) 5,779 18,226 12,605 8,210 18,384 26,436 4,504 3,044 3,202 4,058 716 – 8,422 7,102 1,135 1,593 500,000 517,500 664,516 17,500 – 40,000 50,000 50,000 50,000 90,000 63 2015 20 (a) 120,300 20,000 50,000 – 170,300 20,000 704,277 1,008,678 863,900 1,034,941 12(a) 6,000,000 4,000,000 85,710 – 82,712,014 100% (b) 7,426 8,817 2015 64 20 (c) (i) (ii) 12(a) 21 (a) 17 65 2015 20% 50% 1993 1 18 2014 8 4 49% 2013 4 2000 3 21 2000 8 29 Fiat Group Automobiles S.P.A. 2010 3 9 2015 1 19 2015 66 2010 12 8 51% 2007 11 28 2012 9 25 2004 9 1 2004 2 24 30% 2000 10 18 2010 5 25 2008 7 21 2006 6 7 75.1% 1998 5 13 2003 9 8 25% 67 2015 MPV 2003 10 8 50% 30% 20% 571 SUV 2007 7 25% 2011 6 8 60% 1992 50% 2015 68