Great Wall Motor : PLEDGE OF SHARES BY CONTROLLING SHAREHOLDER

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長 城 汽 車 股 份 有 限 公 司

GREAT WALL MOTOR COMPANY LIMITED*

(a joint stock company incorporated in the People's Republic of China with limited liability)

(Stock Code: 2333)

ANNOUNCEMENT

PLEDGE OF SHARES BY CONTROLLING SHAREHOLDER

This announcement is made by Great Wall Motor Company Limited (the "Company") pursuant to the Inside Information Provisions (as defined under the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules")) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) and Rules 13.09(2)(a) and 13.10B of the Listing Rules.

1. PLEDGE OF SHARES
   On 21 September 2020, the Company received a notice from Baoding Innovation Great Wall Asset Management Company Limited (保定創新長城資產管理有限公司) ("Innovation Great Wall"), a controlling shareholder of the Company, informing that it has pledged 116,000,000 unrestricted tradable A shares of the Company it held to the Baoding Branch of Bank of Hebei Co., Ltd. for working capital loans. Details are as follows:
   1. Basic information of the pledge of shares

Name of	Whether it	Number of	Whether its	Whether	Commencement	Expiry date	Pledgee	Proportion to	Proportion to
is a	shares	supplemental	date of the	of the pledge	Purpose of the pledge
pledged	the number of	the total
shareholder
controlling	are restricted	pledge	pledge			of financing funding
shares			shares held	share capital
	shareholder	shares	is adopted
	(in 10				(%)	of the Company
		thousand)							(%)
Innovation	Yes	11,600	No	No	2020.9.18	2023.9.16	Baoding Branch	2.27	1.26	Provide
Great Wall							of Bank of			guarantee for its
							Hebei Co., Ltd.			own financing

The relevant pledge registration procedures above have been completed with China Securities Depository and Clearing Corporation Limited.

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1. The pledged shares above were not used as guarantee for performance compensation for major assets restructuring or other security purposes.
2. Accumulated pledged shares of shareholders

As at the date of this announcement, details of the accumulated pledged shares of the above shareholders and their parties acting in concert are as follows:

							Pledged shares	Unpledged shares
				Accumulated	Proportion		Number of	Number of	Number of	Number of
	Number of	Percentage	Accumulated	Proportion	restricted	frozen	restricted	frozen
Name of	number of	to the number
number of	to the total	shares	shares	shares	shares
shares held	of
shareholder	pledged shares	of shares held
pledged shares	share	among	among	among	among
	(in 10 thousand)	shareholding	after the pledge	(%)
	before the pledge
	capital of the	pledged	pledged	unpledged	unpledged
		(%)
		(in 10 thousand)
		(in 10 thousand)
				Company	shares	shares	shares	shares
						(%)	(in 10	(in 10	(in 10	(in 10
							thousand)	thousand)	thousand)	thousand)
Innovation
Great Wall	511,500	55.74	161,919	173,519	33.92	18.91	0	0	0	0

1. PLEDGE OF SHARES BY CONTROLLING SHAREHOLDER
   The pledge of shares of Innovation Great Wall aims to provide guarantee for its own financing. Innovation Great Wall will make repayments from dividends of listed companies and investment gains with the capability to repay the debts. The pledge risk is within the controllable scope.
   As confirmed by Innovation Great Wall, as at the date of this announcement, there is no liquidation risk to the shares pledged by it. Innovation Great Wall will adopt the measures including the supplemental pledge to cope with the risk and meanwhile notify the Company and disclose the relevant information in a timely manner in the event that the pledged shares are exposed to liquidation risk.

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The above pledge of shares does not fall within the scope of Rule 13.17 of the Listing Rules.

This announcement will be published on the websites of The Stock Exchange of Hong Kong Limited (www.hkexnews.hk) and the Shanghai Stock Exchange (www.sse.com.cn) and the official website of the Company (www.gwm.com.cn).

Shareholders of the Company and potential investors are advised to exercise caution when dealing in the securities of the Company.

By order of the Board

Great Wall Motor Company Limited

Xu Hui

Company Secretary

Baoding, Hebei Province, the PRC, 21 September 2020

As at the date of this announcement, members of the Board comprise:

Executive Directors: Mr. Wei Jian Jun, Ms. Wang Feng Ying and Ms. Yang Zhi Juan.

Non-executive Director: Mr. He Ping.

Independent Non-executive Directors: Ms. Yue Ying, Mr. Li Wan Jun and Mr. Ng Chi Kit.

• For identification purposes only

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