Core Insights - The company Jingwei Hengrun has delivered over 2 million ZCU products to date, indicating strong market demand and production capabilities [2] - The ZCU 3.0 platform, developed in collaboration with Geely, has achieved large-scale production and is set to be first installed in the Geely Galaxy A7 by July 2025, with plans for expansion to other mainstream models [2] - The ZCU 3.0 platform integrates multiple functions such as body comfort and air conditioning control into a single controller, significantly simplifying wiring and reducing system complexity [2] - The platform features high-performance hardware and incorporates Jingwei Hengrun's proprietary algorithms, enabling a smart closed-loop system from perception to control and decision-making [2]

Group 1 - The automotive manufacturing industry in 2025 is characterized by a dual policy environment that supports consumption while regulating market competition, guiding the industry towards high-quality transformation [1][6][7] - The industry achieved record highs in production and sales, with total production reaching 34.53 million units and sales at 34.40 million units, marking a year-on-year increase of 10.4% and 9.4% respectively [2][8] - New energy vehicles (NEVs) and exports are the core engines driving supply and demand growth, with NEV production and sales increasing by 29% and 28.2% year-on-year [2][10] Group 2 - The bond issuance in the automotive sector totaled 61.02 billion yuan in 2025, with over 70% being sci-tech bonds, indicating a stable credit level across the industry [3][20][21] - Financial performance shows a significant decline in net profits, with a 30.47% year-on-year decrease in net profits for the first three quarters of 2025, leading to many companies reporting losses [4][25] - The average gross margin for sample companies remains stable at around 12%, while the average net margin dropped to -3.5% in the same period, indicating operational challenges [4][26] Group 3 - The outlook for 2026 highlights four key themes: stable production and sales growth, accelerated smart technology adoption, deepening global ecological expansion, and intensified competition [5][38] - The industry is expected to maintain high production and sales levels, with NEVs continuing to be the main growth driver, although the growth rate may slow down [5][39] - The competitive landscape is shifting towards a "value war," with industry consolidation accelerating as weaker companies face challenges in maintaining profitability [5][41]

车企和电池厂商的合作召回。 去年底，吉利系动力电池公司威睿动力起诉欣旺达动力（欣旺达子公司），起诉原因是欣旺达动力在 2021年6月至2023年12月期间向威睿动力交付的电芯存在质量问题，并向后者索赔超23亿元。 而极氪001正是搭载这批欣旺达电芯的重要产品，仅2022年就售出了超7万辆，其中WE86版占比超 60％。但随着极氪001的放量，部分极氪001 WE86车主反馈，车辆存在充电速度变慢、感知电量不准等 问题。此前，极氪汽车已经为部分极氪001 WE86车主免费更换了电池包。2月9日，极氪发布情况说明 称，随着监测技术的持续升级和样本数据的不断累积，极氪发现了此次召回范围内车辆（特定批次的动 力电池）的潜在安全隐患。 2月6日，吉利系和欣旺达达成和解。记者获悉，对使用欣旺达电芯的极氪001 WE86消除可能存在的影 响，正是双方和解的前提条件之一。 根据《和解协议》，对于截至2025年12月31日已经实际发生的成本费用金额，欣旺达动力应向威睿动力 支付的剩余金额为6.08亿元；对于2025年12月31日之后实际发生的成本费用金额（包括相关车辆召 回），双方按约定分担实际发生的成本费用。对于应承担的成本 ...

据市场监管总局2月9日消息，日前，浙江极氪智能科技有限公司根据《缺陷汽车产品召回管理条例》和 《缺陷汽车产品召回管理条例实施办法》的要求，受浙江吉利汽车有限公司委托向国家市场监督管理总 局备案了召回计划。召回编号S2026M0023V：自2026年3月6日起，召回生产日期从2021年7月8日至 2024年3月18日期间生产的部分极氪001WE版汽车，共计38277辆。本次召回范围内的部分车辆，由于 高压动力电池的部件制造一致性原因，长期使用动力电池内阻会异常升高，可能导致部分动力电池性能 下降，极端情况下可能导致动力电池热失控，存在安全隐患。 （文章来源：第一财经） ...

格隆汇2月9日丨吉利汽车(00175.HK)发布公告，2026年2月9日耗资2345.87万港元回购140.8万股，回购 价格每股16.46-16.81港元。 ...

吉利汽车(00175)发布公告，于2026年2月9日，该公司斥资2345.87万港元回购140.8万股。 ...

智通财经APP讯，吉利汽车(00175)发布公告，于2026年2月9日，该公司斥资2345.87万港元回购140.8万 股。 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 吉利汽車控股有限公司 呈交日期： 2026年2月9日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 00175 | 說明 | | | | | | | 多櫃檯證券代號 | 80175 | RMB 說明 | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | ...

Core Insights - The article discusses the collaboration between private equity (PE), industrial investment, and listed companies to create a symbiotic investment ecosystem that bridges the gap from laboratory to market, particularly in hard technology and infrastructure sectors [2][20]. Group 1: Industry Collaboration - The current phase of the equity investment industry is characterized by a return to fundamentals and capability restructuring, emphasizing the need for deep coupling of policy resources, industrial foundations, and capital operation capabilities [2]. - The forum titled "Collaborative Industrial Investment Ecosystem" focused on how to address pain points such as differing interests and ineffective collaboration mechanisms among PE, industrial investment, and listed companies [2][20]. Group 2: Company Profiles - Ushan Investment, founded by Chen Shiyou, manages approximately 16 billion yuan and has invested in 45 direct projects, with plans for 10 more to go public this year [3]. - Geely Capital, led by CEO Cao Xiang, aims for over 4.1 million global vehicle sales by 2025 and has diversified into smart mobility and hard technology sectors, including low-altitude flight and Robotaxi services [3]. - Lingxiong Technology, represented by He Jingwei, focuses on Device as a Service (DaaS) and has been listed on the Hong Kong Stock Exchange since 2022, with major shareholders including Tencent and JD [4]. - Frontier Investment, led by Li Cheng, specializes in mid-to-late-stage investments in advanced manufacturing sectors, managing around 5 billion yuan across eight funds [4]. - Shenzhen Dash Smart, represented by Lü Feng, provides smart office and park management solutions leveraging IoT and AI technologies [5]. - Guolian New Venture, led by Shen Guangping, manages about 10 billion yuan and focuses on integrated circuits and AI, with over 120 investment projects [6]. - Haier Capital, represented by Zhang Jiacheng, has invested in nearly 200 projects with a focus on smart home ecosystems and digital economy sectors [6]. - Nuoyan Capital, led by Zhuang Yingming, focuses on industrial mergers and acquisitions, managing around 20 billion yuan [7]. Group 3: Investment Strategies - Effective collaboration requires clear positioning and advantages among PE, industrial investment, and listed companies, establishing a mechanism for risk-sharing and benefit-sharing [8][31]. - The investment process should involve phased resource injection to control risks and ensure collaborative benefits, with specific goals for each stage [8]. - Listed companies have inherent advantages in direct investment due to their ability to validate products and technologies, but they must avoid over-involvement in decision-making to maintain market independence [10][11]. Group 4: Challenges and Solutions - The dual nature of listed companies' investments can lead to hesitance in decision-making due to their deep understanding of technology, necessitating a balance between industry experience and independent judgment [11][12]. - Disagreements often arise in unfamiliar fields or with innovative technologies, requiring extensive communication and understanding among stakeholders [13][14]. - The success rate of mergers and acquisitions is generally low, with key factors including the commitment of the controlling shareholders and focusing on industry-specific mergers rather than cross-industry ones [19]. Group 5: Ecosystem Development - The integration of PE, industrial investment, and listed companies is crucial for facilitating technology transfer from R&D to market application, with a focus on collaborative models for resource sharing and project incubation [20][29]. - The establishment of innovation centers and partnerships with local governments can enhance the incubation process, ensuring that projects meet market needs and have opportunities for trial applications [29][30]. - A flexible profit-sharing mechanism is essential to align the interests of PE, industrial investors, and listed companies, ensuring that all parties benefit from the growth of invested enterprises [31][32].

Group 1 - Geely Auto has collaborated with Zhejiang University and Hong Kong University of Science and Technology to achieve three artificial intelligence research results, which have been accepted by ICLR 2026, covering areas such as model compression, in-vehicle interaction, and music generation [1] - ICLR is a top international academic conference focused on machine learning and deep learning, aimed at promoting cutting-edge research and innovation in artificial intelligence theory and methods [1] - The three research results accepted by ICLR 2026 demonstrate breakthroughs in algorithm efficiency, vertical scene applications, and generative AI, exemplifying Geely's deep integration of production, academia, and research [1] Group 2 - Geely's latest AI achievement, the Eva super humanoid intelligent agent, has been first launched in the Galaxy M9 model, capable of self-judgment, planning, and task execution, with "supernatural" emotional voice interaction abilities [3] - With the comprehensive upgrade of the AI 2.0 architecture centered around the WAM model this year, Eva is evolving into a "super humanoid, super intelligent, and super user-friendly" intelligent central system for vehicles, becoming an "ecological intelligent body" that connects everything [3]