GUANGZHOU AUTOMOBILE GROUP CO., LTD.
2238
(1) 2020 A
(2) A
(3)
(4)2020
(5)2020 H
7 27 28 29
30 41
2020 11 13 2
23 32 H
H 2020 10 22
H 2020 11 12
2 H
H
2020 10 22
........................................................... 1
...................................................... 7
.............................................. 28
................................................ 30
2020 A ........... 42
2020 A .. 95
.................. 100
............................... 102
............................................ 104
2020 ...................................... 109
2020 H ................................... 111
–i–
A A
A 2020 11 13 2020
A
A 1.00
601238
2020 9 24
2020 A
A
H
H A
–1–
2020 11 13
A
H
–2–
H 2020 11 13 2020
H
H 1.00
2238
2020 A
6
2020 10 19
–3–
5%
2008 171
A
–4–
571
A H
A H
2006 175
–5–
2020 178
2019
102
%
–6–
GUANGZHOU AUTOMOBILE GROUP CO., LTD.
2238
448-458
23
23
18
808
(1) 2020 A
(2) A
(3)
(4)2020
(5)2020 H
–7–
I.
2020 9 24 2020 A
H
H
(i) (ii) (iii)
(iv) (v)
H
II. 2020 A
2020 9 24
A
–8–
III.
A
A
A A
11,000
1.07%
1:1
1
A
–9–
A
1 29 0.2636% 0.0028%
2 26 0.2364% 0.0025%
3 26 0.2364% 0.0025%
4 26 0.2364% 0.0025%
5 24.5 0.2227% 0.0024%
6 26 0.2364% 0.0025%
7 26 0.2364% 0.0025%
8 26 0.2364% 0.0025%
9 24.5 0.2227% 0.0024%
10 24.5 0.2227% 0.0024%
11 24.5 0.2227% 0.0024%
12 24.5 0.2227% 0.0024%
13 24.5 0.2227% 0.0024%
14 24.5 0.2227% 0.0024%
15 24.5 0.2227% 0.0024%
16 24.5 0.2227% 0.0024%
17 24.5 0.2227% 0.0024%
18 24.5 0.2227% 0.0024%
19 24.5 0.2227% 0.0024%
20 24.5 0.2227% 0.0024%
21 24.5 0.2227% 0.0024%
22 24.5 0.2227% 0.0024%
23 24.5 0.2227% 0.0024%
24 12.83 0.1166% 0.0013%
25 12.83 0.1166% 0.0013%
26 8.98 0.0816% 0.0009%
27 8.98 0.0816% 0.0009%
28 8.98 0.0816% 0.0009%
29 8.98 0.0816% 0.0009%
30 12.83 0.1166% 0.0013%
31 11.55 0.1050% 0.0011%
32 10.26 0.0933% 0.0010%
33 12.83 0.1166% 0.0013%
34 11.55 0.1050% 0.0011%
35 12.83 0.1166% 0.0013%
36 11.55 0.1050% 0.0011%
37 8.08 0.0735% 0.0008%
38 11.55 0.1050% 0.0011%
39 11.55 0.1050% 0.0011%
– 10 –
40 8.98 0.0816% 0.0009%
41 8.08 0.0735% 0.0008%
42 6.47 0.0588% 0.0006%
43 12.83 0.1166% 0.0013%
44 8.98 0.0816% 0.0009%
45 11.55 0.1050% 0.0011%
46 11.55 0.1050% 0.0011%
47 6.47 0.0588% 0.0006%
48 6.47 0.0588% 0.0006%
49 11.55 0.1050% 0.0011%
50 8.98 0.0816% 0.0009%
51 8.98 0.0816% 0.0009%
52 6.29 0.0572% 0.0006%
53 5.66 0.0515% 0.0006%
54 4.53 0.0412% 0.0004%
55 1.58 0.0144% 0.0002%
56 4.53 0.0412% 0.0004%
57 4.53 0.0412% 0.0004%
58 8.98 0.0816% 0.0009%
59 6.47 0.0588% 0.0006%
60 8.08 0.0735% 0.0008%
61 4.53 0.0412% 0.0004%
62 8.98 0.0816% 0.0009%
63 8.08 0.0735% 0.0008%
64 8.98 0.0816% 0.0009%
3,136 10,054.73 91.40% 0.98%
3,200 11,000.00 100% 1.07%
– 11 –
1. 22,000
2.14%
11,000 1.07%
A
1% A
10%
2.
3. 1-64
1. A
A
60
2. A
60
60
3. A
24 36
48
– 12 –
4. A
(1) 30 60
30
60 1
(2) 10
(3)
2
(4)
24 40%
36
36 30%
48
– 13 –
48 30%
60
5. A
A
(1)
25%
(2)
6
25%
(3)
– 14 –
(4)
6 6
(5)
(6)
20%
A
11,000
1.07%
– 15 –
1 29 0.2636% 0.0028%
2 26 0.2364% 0.0025%
3 26 0.2364% 0.0025%
4 26 0.2364% 0.0025%
5 24.5 0.2227% 0.0024%
6 26 0.2364% 0.0025%
7 26 0.2364% 0.0025%
8 26 0.2364% 0.0025%
9 24.5 0.2227% 0.0024%
10 24.5 0.2227% 0.0024%
11 24.5 0.2227% 0.0024%
12 24.5 0.2227% 0.0024%
13 24.5 0.2227% 0.0024%
14 24.5 0.2227% 0.0024%
15 24.5 0.2227% 0.0024%
16 24.5 0.2227% 0.0024%
17 24.5 0.2227% 0.0024%
18 24.5 0.2227% 0.0024%
19 24.5 0.2227% 0.0024%
20 24.5 0.2227% 0.0024%
21 24.5 0.2227% 0.0024%
22 24.5 0.2227% 0.0024%
23 24.5 0.2227% 0.0024%
24 12.83 0.1166% 0.0013%
25 12.83 0.1166% 0.0013%
26 8.98 0.0816% 0.0009%
27 8.98 0.0816% 0.0009%
28 8.98 0.0816% 0.0009%
29 8.98 0.0816% 0.0009%
30 12.83 0.1166% 0.0013%
31 11.55 0.1050% 0.0011%
32 10.26 0.0933% 0.0010%
33 12.83 0.1166% 0.0013%
34 11.55 0.1050% 0.0011%
35 12.83 0.1166% 0.0013%
36 11.55 0.1050% 0.0011%
37 8.08 0.0735% 0.0008%
38 11.55 0.1050% 0.0011%
– 16 –
39 11.55 0.1050% 0.0011%
40 8.98 0.0816% 0.0009%
41 8.08 0.0735% 0.0008%
42 6.47 0.0588% 0.0006%
43 12.83 0.1166% 0.0013%
44 8.98 0.0816% 0.0009%
45 11.55 0.1050% 0.0011%
46 11.55 0.1050% 0.0011%
47 6.47 0.0588% 0.0006%
48 6.47 0.0588% 0.0006%
49 11.55 0.1050% 0.0011%
50 8.98 0.0816% 0.0009%
51 8.98 0.0816% 0.0009%
52 6.29 0.0572% 0.0006%
53 5.66 0.0515% 0.0006%
54 4.53 0.0412% 0.0004%
55 1.58 0.0144% 0.0002%
56 4.53 0.0412% 0.0004%
57 4.53 0.0412% 0.0004%
58 8.98 0.0816% 0.0009%
59 6.47 0.0588% 0.0006%
60 8.08 0.0735% 0.0008%
61 4.53 0.0412% 0.0004%
62 8.98 0.0816% 0.0009%
63 8.08 0.0735% 0.0008%
64 8.98 0.0816% 0.0009%
3,136 10,054.73 91.40% 0.98%
3,200 11,000.00 100% 1.07%
1. 22,000
2.14%
11,000 1.07%
A
1% A
10%
– 17 –
2.
3. 1-64
1.
60
2.
60
60
A H
(1) 30 60
30
60 1
(2) 10
(3)
2
(4)
– 18 –
60
3.
3
24 36 48
24 40%
36
36 30%
48
48 30%
60
– 19 –
4.
(1)
25%
(2)
6
25%
(3)
(4)
6 6
(5)
– 20 –
(6)
20%
IV.
22 Black-
Scholes B-S
2.15
1. A 9.8
2. 9.98
3. 3.4
4. 25.5321% 3.4
5. 2.8423% 3.4
6. 0%
0%
V.
– 21 –
VI.
A
17
17.03(9) 1
(1) 1 A 9.91
(2) 20 60 120 A
10.34 10.19 9.98
17.03(9) 1
(i) (ii) 5
– 22 –
A
17.03(9) 1
17.03(13)
17.03(13)
17.03(13)
A
17.03(13)
14A.92(3)(a)
17
14A
28 29
30 41
– 23 –
VII.
[2019]111
VIII. A H
A H (i)
(ii) (iii)
H
2020 10 21
H
2020 10
21
H
– 24 –
2020 11 13 2
23 32 A H
H
H
H H
2020 10 22
H 24
H H
183 54
H
731,533 A 0.0071%
534,300 A
0.0052% 537,368 A
0.0052% 111,274 H
0.0011% 534,267 A
0.0052% 693,668 A
0.0068%
105,220 A 0.0010%
80,353A 0.0008%
H A
H A
H A
– 25 –
(a)
(b) (i)
(ii)
(c)
IX. H
2020 11 9 2020 11 13
H
H H H
2020 11 6
4 30 H
183 54 2020 11 6
H H
X.
– 26 –
H
2020 9 24
XI.
13.39(4)
H
H
13.39(5)
2020 10 22
– 27 –
GUANGZHOU AUTOMOBILE GROUP CO., LTD.
2238
(1) 2020 A
(2) A
(3)
(4)2020
(5)2020 H
2020 10 22
14A
14A
7 27 30 41
– 28 –
H
2020 10 22
– 29 –
88
173
12 1209
A
22,000
2.14%
11,000 1.07%
– 30 –
110,000,000 9,452,700
64
14A
(i)
(ii)
(iii) H
13.80
– 31 –
1.
– 32 –
%
25,641,584 59,704,322 72,379,779 (17.51)
2,317,770 6,616,265 10,899,603 (39.30)
597.04
17.51%
39.30%
5%
– 33 –
(1) (2)
(3)
III. (II)
12
(i)
(ii)
(iii)
– 34 –
2.
4.99
III.
0.0002% 0.0028%
(i)
(ii)
I A
(i) 1:1
(ii)
40
(iii)
(iv)
40%
II
(i)
(ii) (iii) (iv)
– 35 –
(i) 64 (ii)
I (iii)
II
A
12
– 36 –
(i)
A
(i i)
A
20/60/120
A A
12 0.006%
50% 24
(SH601388) 36 0.012%
12 0.01%
(SH603456) 50% 24
36 0.02%
12
50% 24
(SH603300)
12 0.02%
(SH603918) 50% 24
36 0.04%
12 0.06%
(SH603757) 50% 24
36
12 0.03%
(SH603536) 50% 24
12 0.01%
(SH603501) 60% 24
36
12 0.04%
(SH603279) 50% 24
0.06%
24
(SH601668) 60% 36
48
– 37 –
(i)
A
(i i)
A
20/60/120
A A
12 0.0059%
(SH601666) 50% 24
36
24 0.005%
(SH600153) 60% 36
48 0.007%
12 0.86%
50% 24
(SH600363) 36 0.9%
http://www.cninfo.com.cn/
A 0.005%
0.9%
0.0002% 0.0028%
– 38 –
4.99
4.99 A
(1) A 50% (2) 20
60 120 A 50%
120
1.00 (i) 4.955 9.91
50 A (ii) 4.99
9.98 50 120 A
(i) (ii)
(a) 50% (b)A
20 60 120 50%
A A
(i) A
(ii) A 20
60 120 50%
– 39 –
60
3
24 36 48
A
– 40 –
(i)
(ii)
3.
9,452,700
0.0923%
(i)
(ii)
H
6 25
– 41 –
2020 A
I.
II.
1.
(1) 12
(2) 12
(3) 12
(4)
– 42 –
2020 A
(5)
(6)
(1)
(2)
5%
2.
3,200
(1)
(2)
(3)
5%
– 43 –
2020 A
3.
(1)
10
(2)
5
III.
A
60
22,000
2.14% 11,000
1.07%
1
11,000 1.07%
1:1
– 44 –
2020 A
22,000
2.14%
11,000 1.07%
A
10%
A
1%
12 1%
A
A
A A
11,000
1.07%
1:1
1
A
– 45 –
2020 A
A
1 29 0.2636% 0.0028%
2 26 0.2364% 0.0025%
3 26 0.2364% 0.0025%
4 26 0.2364% 0.0025%
5 24.5 0.2227% 0.0024%
6 26 0.2364% 0.0025%
7 26 0.2364% 0.0025%
8 26 0.2364% 0.0025%
9 24.5 0.2227% 0.0024%
10 24.5 0.2227% 0.0024%
11 24.5 0.2227% 0.0024%
12 24.5 0.2227% 0.0024%
13 24.5 0.2227% 0.0024%
14 24.5 0.2227% 0.0024%
15 24.5 0.2227% 0.0024%
16 24.5 0.2227% 0.0024%
17 24.5 0.2227% 0.0024%
18 24.5 0.2227% 0.0024%
19 24.5 0.2227% 0.0024%
20 24.5 0.2227% 0.0024%
21 24.5 0.2227% 0.0024%
22 24.5 0.2227% 0.0024%
23 24.5 0.2227% 0.0024%
24 12.83 0.1166% 0.0013%
25 12.83 0.1166% 0.0013%
26 8.98 0.0816% 0.0009%
27 8.98 0.0816% 0.0009%
28 8.98 0.0816% 0.0009%
29 8.98 0.0816% 0.0009%
30 12.83 0.1166% 0.0013%
31 11.55 0.1050% 0.0011%
32 10.26 0.0933% 0.0010%
33 12.83 0.1166% 0.0013%
34 11.55 0.1050% 0.0011%
35 12.83 0.1166% 0.0013%
36 11.55 0.1050% 0.0011%
37 8.08 0.0735% 0.0008%
38 11.55 0.1050% 0.0011%
39 11.55 0.1050% 0.0011%
– 46 –
2020 A
40 8.98 0.0816% 0.0009%
41 8.08 0.0735% 0.0008%
42 6.47 0.0588% 0.0006%
43 12.83 0.1166% 0.0013%
44 8.98 0.0816% 0.0009%
45 11.55 0.1050% 0.0011%
46 11.55 0.1050% 0.0011%
47 6.47 0.0588% 0.0006%
48 6.47 0.0588% 0.0006%
49 11.55 0.1050% 0.0011%
50 8.98 0.0816% 0.0009%
51 8.98 0.0816% 0.0009%
52 6.29 0.0572% 0.0006%
53 5.66 0.0515% 0.0006%
54 4.53 0.0412% 0.0004%
55 1.58 0.0144% 0.0002%
56 4.53 0.0412% 0.0004%
57 4.53 0.0412% 0.0004%
58 8.98 0.0816% 0.0009%
59 6.47 0.0588% 0.0006%
60 8.08 0.0735% 0.0008%
61 4.53 0.0412% 0.0004%
62 8.98 0.0816% 0.0009%
63 8.08 0.0735% 0.0008%
64 8.98 0.0816% 0.0009%
3,136 10,054.73 91.40% 0.98%
3,200 11,000.00 100% 1.07%
1. 22,000
2.14%
11,000 1.07%
A
1% A
10%
2.
– 47 –
2020 A
3. 1-64
1. A
A
60
2. A
60
60
3. A
24 36
48
4. A
(1) 30 60
30
60 1
(2) 10
– 48 –
2020 A
(3)
2
(4)
24 40%
36
36 30%
48
48 30%
60
– 49 –
2020 A
5. A
A
(1)
25%
(2)
6
25%
(3)
(4)
6 6
(5)
(6)
20%
– 50 –
2020 A
1.
9.98
9.98 A
2.
(1) 1 A 9.91
(2) 20 60 120 A
10.34 10.19
9.98
1.
(1)
36
– 51 –
2020 A
(2)
(3)
12
12
12
– 52 –
2020 A
(4)
2.
(1)
36
(2)
– 53 –
2020 A
(3)
12
12
12
– 54 –
2020 A
(4)
(5)
2021-2023
(1) 2019 2021
≥3%
(2) 2021 ≥4.6%
75
(3) 2021
≥96%
(4) 2021 ≥30%
(5) 2021
≥4%
– 55 –
2020 A
(1) 2019 2022
≥20%
(2) 2022 ≥5.2%
75
(3) 2022
≥96%
(4) 2022 ≥30%
(5) 2022
≥4%
(1) 2019 2023
≥34%
(2) 2023 ≥5.5%
75
(3) 2023
≥96%
(4) 2023 ≥30%
(5) 2023
≥4%
a.
– 56 –
2020 A
b.
c.
d.
A
17 A
1 600104.SH
2 601633.SH
3 600066.SH
4 600213.SH
5 600006.SH
6 002594.SZ
7 000957.SZ
8 000550.SZ
9 600686.SH
10 600418.SH
11 600166.SH
12 600303.SH
13 601127.SH
14 600733.SH
15 000951.SZ
16 000625.SZ
17 000800.SZ
– 57 –
2020 A
(6)
2020 A
(S)
100% 100% 100% 70% 0%
(7)
3.
(1)
(2)
(3)
– 58 –
2020 A
1.
(1)
Q Q0 (1 n)
Q0 n
Q
(2)
Q Q0 P1 (1 n)/(P1 P2 n)
Q0 P1 A
P2 n
Q
(3)
Q Q0 n
Q0 n 1
n Q
– 59 –
2020 A
(4)
2.
(1)
P P0 (1 n)
P0 n
P
(2)
P P0 (P1 P2 n)/[P1 (1 n)]
P0 P1 A P2
n
P
(3)
P P0 n
P0 n P
(4)
P P0-V
P0 V P
P
– 60 –
2020 A
(5)
3. A
A
1.
Black-Scholes B-S
2.
3.
4.
22
Black-Scholes B-S
2.15
1. A 9.8
– 61 –
2020 A
2. 9.98
3. 3.4
4. 25.5321% 3.4
5. 2.8423% 3.4
6. 0%
0%
2020 2021 2022 2023 2024
11,000 23,650.00 1,478.13 8,868.75 8,080.42 3,744.58 1,478.13
A
11,000
1.07%
– 62 –
2020 A
1 29 0.2636% 0.0028%
2 26 0.2364% 0.0025%
3 26 0.2364% 0.0025%
4 26 0.2364% 0.0025%
5 24.5 0.2227% 0.0024%
6 26 0.2364% 0.0025%
7 26 0.2364% 0.0025%
8 26 0.2364% 0.0025%
9 24.5 0.2227% 0.0024%
10 24.5 0.2227% 0.0024%
11 24.5 0.2227% 0.0024%
12 24.5 0.2227% 0.0024%
13 24.5 0.2227% 0.0024%
14 24.5 0.2227% 0.0024%
15 24.5 0.2227% 0.0024%
16 24.5 0.2227% 0.0024%
17 24.5 0.2227% 0.0024%
18 24.5 0.2227% 0.0024%
19 24.5 0.2227% 0.0024%
20 24.5 0.2227% 0.0024%
21 24.5 0.2227% 0.0024%
22 24.5 0.2227% 0.0024%
23 24.5 0.2227% 0.0024%
24 12.83 0.1166% 0.0013%
25 12.83 0.1166% 0.0013%
26 8.98 0.0816% 0.0009%
27 8.98 0.0816% 0.0009%
28 8.98 0.0816% 0.0009%
29 8.98 0.0816% 0.0009%
30 12.83 0.1166% 0.0013%
31 11.55 0.1050% 0.0011%
32 10.26 0.0933% 0.0010%
33 12.83 0.1166% 0.0013%
34 11.55 0.1050% 0.0011%
35 12.83 0.1166% 0.0013%
36 11.55 0.1050% 0.0011%
37 8.08 0.0735% 0.0008%
38 11.55 0.1050% 0.0011%
– 63 –
2020 A
39 11.55 0.1050% 0.0011%
40 8.98 0.0816% 0.0009%
41 8.08 0.0735% 0.0008%
42 6.47 0.0588% 0.0006%
43 12.83 0.1166% 0.0013%
44 8.98 0.0816% 0.0009%
45 11.55 0.1050% 0.0011%
46 11.55 0.1050% 0.0011%
47 6.47 0.0588% 0.0006%
48 6.47 0.0588% 0.0006%
49 11.55 0.1050% 0.0011%
50 8.98 0.0816% 0.0009%
51 8.98 0.0816% 0.0009%
52 6.29 0.0572% 0.0006%
53 5.66 0.0515% 0.0006%
54 4.53 0.0412% 0.0004%
55 1.58 0.0144% 0.0002%
56 4.53 0.0412% 0.0004%
57 4.53 0.0412% 0.0004%
58 8.98 0.0816% 0.0009%
59 6.47 0.0588% 0.0006%
60 8.08 0.0735% 0.0008%
61 4.53 0.0412% 0.0004%
62 8.98 0.0816% 0.0009%
63 8.08 0.0735% 0.0008%
64 8.98 0.0816% 0.0009%
3,136 10,054.73 91.40% 0.98%
3,200 11,000.00 100% 1.07%
1. 22,000
2.14%
11,000 1.07%
A
1% A
10%
2.
– 64 –
2020 A
3. 1-64
1.
60
2.
60
60
A H
(1) 30 60
30
60 1
(2) 10
(3)
2
– 65 –
2020 A
(4)
60
3.
3
24 36 48
24 40%
36
36 30%
48
48 30%
60
– 66 –
2020 A
4.
(1)
25%
(2)
6
25%
(3)
(4)
6 6
(5)
– 67 –
2020 A
(6)
20%
1.
4.99
4.99 A
2.
(1) 1 A 9.91
50%
(2) 20 60 120
10.34 10.19 9.98
50%
1.
(1)
– 68 –
2020 A
36
(2)
– 69 –
2020 A
(3)
12
12
12
(4)
2.
(1)
– 70 –
2020 A
36
(2)
– 71 –
2020 A
(3)
12
12
12
(4)
(5)
2021-2023
– 72 –
2020 A
(1) 2019 2021
≥3%
(2) 2021 ≥4.6%
75
(3) 2021
≥96%
(4) 2021
≥30%
(5) 2021
≥4%
(1) 2019 2022
≥20%
(2) 2022 ≥5.2%
75
(3) 2022
≥96%
(4) 2022
≥30%
(5) 2022
≥4%
– 73 –
2020 A
(1) 2019 2023
≥34%
(2) 2023 ≥5.5%
75
(3) 2023
≥96%
(4) 2023
≥30%
(5) 2023
≥4%
a.
b.
c.
d.
A
17 A
– 74 –
2020 A
1 600104.SH
2 601633.SH
3 600066.SH
4 600213.SH
5 600006.SH
6 002594.SZ
7 000957.SZ
8 000550.SZ
9 600686.SH
10 600418.SH
11 600166.SH
12 600303.SH
13 601127.SH
14 600733.SH
15 000951.SZ
16 000625.SZ
17 000800.SZ
(6)
2020 A
(S)
100% 100% 100% 70% 0%
– 75 –
2020 A
(7)
3.
(1)
(2)
(3)
– 76 –
2020 A
1.
(1)
Q Q0 (1 n)
Q0 n
Q
(2)
Q Q0 P1 (1 n) (P1 P2 n)
Q0 P1 A
P2 n
Q
(3)
Q Q0 n
Q0 n 1
n Q
(4)
– 77 –
2020 A
2.
(1)
P=P0 (1+n)
P0 n
P
(2)
P P0 (P1 P2 n) [P1 (1 n)]
P0 P1 A P2
n
P
(3)
P=P0 n
P0 n P
(4)
P=P0-V
P0 V P
P 1
– 78 –
2020 A
(5)
3.
1.
2.
3.
11 A
A
= A 4.81
– 79 –
2020 A
2020 2021 2022 2023 2024
11,000 52,910.00 3,306.88 19,841.25 18,077.58 8,377.42 3,306.88
1.
2.
(1)
(2)
– 80 –
2020 A
1.
(1)
P=P0 (1+n)
P P0
n
(2)
P P0 (P1 P2 n) [P1 (1 n)]
P P0 P1
A P2 n
(3)
P= P0 n
P P0
n 1 n
– 81 –
2020 A
(4)
P=P0-V
P P0
V P 1
(5)
2.
(1)
Q=Q0 (1+n)
Q0 n
Q
(2)
Q=Q0 P1 (1+n) (P1+P2 n)
Q0 P1 A
P2 n
Q
– 82 –
2020 A
(3)
Q=Q0 n
Q0 n 1
n Q
(4)
3.
(1)
(2)
4.
(1)
(2)
(3)
(4)
– 83 –
2020 A
IV.
1.
(1)
(2)
(3)
(4)
(5)
10
5
(6) 6
(7)
(8)
(9)
– 84 –
2020 A
(10)
2/3
5%
(11)
2.
(1)
(2) 60
(3)
(4)
(5)
– 85 –
2020 A
(6)
(7)
(8)
3.
(1)
(2)
(3)
(4)
4.
(1)
– 86 –
2020 A
(2)
(3)
(4)
5.
(1)
(1)
(2)
(2)
– 87 –
2020 A
V.
1.
(1)
(2)
(3)
(4)
– 88 –
2020 A
(5)
2.
(1)
(2)
(3)
(4)
(5)
(6)
(7)
– 89 –
2020 A
(8)
(9)
(10)
VI.
1.
(1)
1.
2.
3. 36
4.
5.
– 90 –
2020 A
A A
A
(2)
1.
2.
(3)
A A A
(4)
A A
A
2.
(1)
– 91 –
2020 A
(2)
(3)
A A
A
– 92 –
2020 A
(4)
A A
A
(5)
– 93 –
2020 A
3.
– 94 –
2020 A
2020 A
2020 A
2020 A
– 95 –
2020 A
(1) 2019 2021
≥3%
(2) 2021 ≥4.6%
75
(3) 2021 ≥96%
(4) 2021 ≥30%
(5) 2021 ≥ 4%
(1) 2019 2022
≥20%
(2) 2022 ≥5.2%
75
(3) 2022 ≥96%
(4) 2022 ≥30%
(5) 2022 ≥ 4%
(1) 2019 2023
≥34%
(2) 2023 ≥5.5%
75
(3) 2023 ≥96%
(4) 2023 ≥30%
(5) 2023 ≥ 4%
a.
– 96 –
2020 A
b.
c.
d.
A
17 A
1 600104.SH
2 601633.SH
3 600066.SH
4 600213.SH
5 600006.SH
6 002594.SZ
7 000957.SZ
8 000550.SZ
9 600686.SH
10 600418.SH
11 600166.SH
12 600303.SH
13 601127.SH
14 600733.SH
15 000951.SZ
16 000625.SZ
17 000800.SZ
– 97 –
2020 A
(S)
100% 100% 100% 70% 0%
1
2
2021-2023
– 98 –
2020 A
1
15
10
2
1
2
– 99 –
H
H
1.
2.
3.
4.
5.
6.
– 100 –
7.
8.
9.
2020 A
– 101 –
– 102 –
– 103 –
1.
2.
(i)
XV
XV 7 8
352
(%) (%)
A 707,000 0.0099 0.0069
A 731,533 0.0102 0.0071
A 534,300 0.0075 0.0052
A 537,368 0.0075 0.0052
H 111,274 0.0036 0.0011
A 534,267 0.0075 0.0052
A 693,668 0.0097 0.0068
A 105,220 0.0015 0.0010
A 80,353 0.0011 0.0008
(ii)
5% XV
– 104 –
2 3 336
1 (%) (%)
2 A 5,191,015,530 (L) 72.71 53.56
H 292,208,000 (L) 9.43
FMR LLC H 155,824,943 (L) 5.03 1.52
Citigroup Inc. H 161,601,454 (L) 5.21 3.14
2,408,426 (S) 0.08
157,551,686 (P) 5.08
H 182,871,696 (L) 5.90 1.79
Brown Brothers H 223,958,369 (L) 7.23 4.38
Harriman & Co. 223,958,369 (P) 7.23
AllianceBernstein L.P. H 156,907,977(L) 5.06 1.53
1. (L) (S) (P)
2. A 5,206,932,069
A 72.93%
H 292,208,000 H 9.43%
A H 5,499,140,069 53.71%
3.
– 105 –
4.
5.
2019 12 31
6.
2019 12 31
7.
8.
(i)
6
– 106 –
(ii)
(iii)
(iv) 2019 12 31
9.
(i) 448 458
23 23
18 808
(ii) 2001 3
2011 6
(iii) H
183 54
(iv)
10.
18 808
(i)
– 107 –
(ii) 42 94
(iii) 95 99
(iv) 7 27
(v) 28 29
(vi) 30 41
(vii)
(viii)
– 108 –
2020
GUANGZHOU AUTOMOBILE GROUP CO., LTD.
2238
23 32
1 2020 A
2 2020 A
3 2020
A
4
– 109 –
2020
1.
2.
3.
H
183 54
4.
5.
H H
H
183 54
6.
7. 13.39(4)
13.39(5)
8. H A
(h t t p://w w w.g a c.c o m.c n)
(http://www.sse.com.cn)
9. (86)-20-83151012/(86)-20-83151139, Ext.8104
– 110 –
2020 H
GUANGZHOU AUTOMOBILE GROUP CO., LTD.
2238
H
A
H
23 32 H
H
1 2020 A
2 2020 A
3 2020
A
– 111 –
2020 H
1.
2. H H H
3. H
H
183 54
4. H
5.
H H H
H
183 54
6. H H
7. 13.39(4)
H
13.39(5)
8. H H
9. H (86)-20-83151012/(86)-20-83151139, Ext.8104
– 112 –
GUANGZHOU AUTOMOBILE GROUP CO., LTD.
2238
H
H
H
23 32
1 2020 A
2 2020 A
3
2020 A
4
.
. H
. H
H
.
.
H
. H
.
H
.
.
H 183
54
(i) 486
(ii)
(iii)
(iv)
GUANGZHOU AUTOMOBILE GROUP CO., LTD.
2238
H H
H
H
A
H 23 32
H
1 2020 A
2 2020 A
3
2020 A
.
. H
. H
H
.
.
H
. H H
.
H
.
.
H 183
54
(i) 486
(ii)
(iii)
(iv)