GAC (Guangzhou Automobile Group)

Guangzhou Automobile Group Co., Ltd., together with its subsidiaries, engages in the research, development, manufacture, and sale of vehicles and motorcycles, and parts and components; and provision of commercial and financial services in Mainland China and internationally. The company operates through two segments, Vehicles and Related Operations, and Others. It offers large to medium sized passenger vehicles, light and heavy trucks, construction vehicles, and energy vehicles; motorcycles comprising standard motorcycles, sport bikes, scooters, etc.; and auto-parts and components, including engines, gearboxes, car seats, micro motors, shifters, electric controllers, and interior and exterior decorations. The company also provides financial investment, insurance, insurance brokerage, financial leasing, automobile credit, and other related services; and engages in the businesses of vehicle sales, logistics, international trading, second-hand vehicles, end-of-life vehicles disassembling, resources recycling, supporting services, digitalization and mobility transportation services, etc. In addition, it offers investment management services; and engages in the trade of steel. The company was incorporated in 1997 and is headquartered in Guangzhou, the People's Republic of China. Guangzhou Automobile Group Co., Ltd. is a subsidiary of Guangzhou Automobile Industry Group Co., Ltd.

Guangzhou Automobile Group Co., Ltd. was founded in 1955, and in 2005 become a holding of Guangzhou Automobile Industry Group and a joint-stock company. As of 2009 it was the 6th-largest automaker in China.In 2009, the company acquired 29% of the Chinese sport-utility vehicle maker Changfeng Automobile, becoming its biggest shareholder. GAC purchased the remaining portion of Changfeng in 2011 completing its acquisition of the company.Previously a backdoor listing via Denway Motors, GAC became listed under its own name on the Stock Exchange of Hong Kong in 2010. In that year shareholders of Denway Motors approved its privatization by GAC. Denway Motors was subsequently delisted on 25 August 2010 and replaced by Guangzhou Automobile Group on 30 August 2010 via stock swap.In late 2010 GAC purchased 51% ownership of Gonow, a midsize Chinese automaker of sport-utility vehicles, subcompacts, and pickup trucks.In December 2010 GAC launched the new Trumpchi marque. Its initial product was based on the Alfa Romeo 166.In 2010 GAC was among the ten largest Chinese carmakers reaching number six and selling 724,200 vehicles.2011 saw the company retain its position as the sixth-largest Chinese automaker by production volume, with GAC making 740,400 vehicles in that year.In early 2012, the company was listed on the Shanghai Stock exchange.

Guangzhou Automobile Group adheres to joint development and independent innovation, and its business covers vehicle (automobile, motorcycle) and parts development, manufacturing, automobile business services, automobile finance, etc. It has become one of the most complete automobile groups in the domestic industrial chain, and is also domestic

Looking forward to the future, Guangzhou Automobile Group put forward a new stage of development goals and missions, namely, in the first stage of building a socialist modernized country, and in the 20th year of the company's 30th anniversary, Guangzhou Automobile Group strives to enter the top 100 enterprises in the world; In the two phases, in 2037, the 40th anniversary of the company's establishment, Guangzhou Automobile Group will become a world-class enterprise with global competitiveness.