  M-type stars are the ones that flare most frequently, but how big their
maximum flare energy can reach is still unknown. We present 163 flares from 162
individual M2 through L1-type stars that triggered the GWAC, with flare
energies ranging from $10^{32.2}$ to $10^{36.4}$ erg . The flare amplitudes
range from $\triangle G = 0.84$ to $\sim 10$ mag. Flare energy increases with
stellar surface temperature ($T_{\rm eff}$) but both $\triangle G$ and
equivalent duration $\log_{10}(ED)$ seem to be independent of $T_{\rm eff}$.
Combining periods detected from light curves of TESS and K2, spectra from
LAMOST, SDSS and the 2.16 m Telescope, and the Gaia DR3 data, we found that
these GWAC flare stars are young. For the stars that have spectra, we found
that these stars are in or very near to the saturation region, and
$\log_{10}(L_{\rm H\alpha}/L_{\rm bol})$ is lower for M7-L1 stars than for
M2-M6 stars. We also studied the relation between GWAC flare bolometric energy
$E_{\rm bol}$ and stellar hemispherical area $S$, and found that
$\log_{10}E_{\rm bol}$ (in erg) increases with increasing $S$ (in cm$^2$), and
the maximum flare energy $\log_{10}E_{\rm bol, max} \geqslant \log_{10}S +
14.25$. For M7-L1 stars, there seem to be other factors limiting their maximum
flare energies in addition to stellar hemispherical area.
