"想要跟上中国的节奏，感觉就像攀登珠穆朗玛峰一样。"福兰如此描述了他间隔八个月后的重返中国感 受。从过去三到四个月一次的访华频率，到见证中国智能汽车生态的爆发式增长，福兰深知，在这个全 球竞争最激烈的市场中，单纯的"产品导入"或"合资生产"模式早已过时。 因此，福兰明确否定了雷诺短期内重返中国销售市场的可能，理由是"竞争非常激烈"和"价格战的现 实"。 他表示，"价格战是双输的战争，既会导致车辆残值暴跌，也会损害品牌价值，最终不利于消费 者与行业发展。"这种"不逐量、重价值"的判断，与雷诺集团在欧洲市场从"追求销量"转向"追求价 值"的战略一脉相承。 来源：环球网 【环球网科技报道 记者 张阳】2026年新年第三周，雷诺集团CEO福兰（François Provost）将中国定为 年度首个海外市场走访目的地。这位与中国有着长期深厚渊源的管理者，在过去八个月的CEO任期里完 成了集团组织架构重组，再度踏上中国土地，带来的并非急功近利的市场扩张计划，而是一套经过深思 熟虑的"中国生态深耕战略"——以技术合作为纽带，成为全球技术迭代与竞争力重构的关键支点。 在竞争白热化、价格战持续的中国汽车市场中，这种"克制存在" ...

Group 1 - On January 21, 42 Hong Kong-listed companies conducted share buybacks, totaling 29.73 million shares and an amount of HKD 512 million [1] - Xiaomi Group-W had the highest buyback amount of HKD 248 million, repurchasing 7 million shares [1] - Other notable buybacks included Pop Mart with HKD 96.49 million and Sunny Optical Technology with HKD 61.39 million [1] Group 2 - The highest buyback price for Xiaomi was HKD 35.480, while the lowest was HKD 35.220, with a cumulative buyback amount of HKD 20.49 billion for the year [1] - Pop Mart's buyback ranged from HKD 194.900 to HKD 191.100, with a cumulative buyback amount of HKD 348 million for the year [1] - Sunny Optical Technology's buyback prices were between HKD 63.950 and HKD 62.300, with a cumulative buyback amount of HKD 686 million for the year [1]

Core Viewpoint - The methanol-based alcohol-hydrogen electric technology is accelerating its entry into the mainstream commercial vehicle market, providing a competitive alternative to pure electric and hydrogen fuel cell technologies, and is expected to create a new trillion-level renewable energy sector [1][4]. Group 1: Market Overview - China is the largest commercial vehicle market globally, with rapid development expected in electric, hydrogen fuel cell, and methanol technologies, driven by supportive policies and both domestic and export demand [2]. - By 2025, domestic sales of commercial vehicles are projected to reach 3.237 million units, with 871,000 units being new energy commercial vehicles, resulting in a penetration rate of 26.9% [2]. - The current penetration rate of new energy in commercial vehicles is low compared to passenger vehicles, which have surpassed 50% [2]. Group 2: Challenges and Opportunities - The slow development of new energy in commercial vehicles is attributed to the limitations of existing technologies, which do not meet the specific needs of commercial vehicle usage [3]. - The commercial vehicle sector is a significant energy consumer, accounting for over half of vehicle fuel consumption and 56% of CO2 emissions from all vehicles [2]. Group 3: Technological Advantages - The alcohol-hydrogen electric vehicle technology, which utilizes methanol as a liquid hydrogen substitute, has shown practical and economic advantages, making it suitable for various operational conditions [4][5]. - Compared to pure electric vehicles, alcohol-hydrogen electric vehicles offer stronger endurance, less impact from weather conditions, and lower infrastructure costs [5]. - The latest generation of methanol-powered systems has achieved a thermal efficiency of 50.3%, with comprehensive energy costs reduced by 32%-52% compared to diesel vehicles [5]. Group 4: Infrastructure and Policy Support - The existing oil and gas pipeline network can be utilized for low-cost transportation of liquid methanol, and converting existing gas stations to methanol refueling stations is significantly cheaper than building new hydrogen stations [6]. - The Chinese government has introduced over 70 policy documents to support the promotion of methanol vehicles, indicating strong institutional backing for the industry [8][9]. Group 5: Global Trends and Future Outlook - European car manufacturers are increasingly developing methanol as a vehicle fuel, with models expected to enter the market post-2035 [7]. - The global methanol industry is expanding, with 414 ships confirmed to adopt methanol fuel by the end of 2025, indicating a growing acceptance of methanol in various transportation sectors [7]. - The integration of green hydrogen, ammonia, and methanol is becoming a key pathway for clean energy consumption and industrial innovation [10].

Market Overview - The Hong Kong stock market opened higher on January 22, with the Hang Seng Index rising by 0.62% to 26,750.51 points, the Hang Seng Tech Index increasing by 0.85% to 5,795 points, and the National Enterprises Index up by 0.55% to 9,173.54 points [1] - Major tech stocks mostly rose, with Alibaba up 1.72%, Tencent Holdings up 0.33%, JD Group up 0.98%, and Xiaomi Group up 0.9% [1] - Chip stocks opened high, with Zhaoyi Innovation rising over 7% [1] - The innovative drug concept was active, with WuXi Biologics rising over 1% [1] - Gold stocks generally fell, with Shandong Gold down over 2% [1] - Longqi Technology's IPO on the Hong Kong stock market saw a nearly 13% increase on its first day [1] Company News - Shanghai Electric (02727.HK) expects a net profit of RMB 1.1 billion to RMB 1.32 billion for 2025, an increase of approximately 47% to 76% year-on-year [2] - Kingdee International (00268.HK) anticipates total revenue of approximately RMB 6.95 billion to RMB 7.05 billion for 2025, a year-on-year growth of about 11.1% to 12.7% [2] - Beijing Machinery Electric (00187.HK) expects a net loss of RMB 46 million to RMB 55.2 million for 2025, primarily due to intensified international trade frictions affecting its gas storage and transportation export business [2] - Chow Tai Fook (01929.HK) reported a retail value growth of 17.8% for the three months ending December 31, 2025, with mainland China retail value increasing by 16.9% [2] - Zai Lab (09911.HK) anticipates a cumulative download of approximately 970 million for its social business by 2025, a year-on-year increase of about 5.9% [2] Strategic Developments - Ruiri Medical Technology (01696.HK) signed a letter of intent for cooperation with Stryker Medical to establish localized production in China [3] - Cathay Pacific (00293.HK) and Hong Kong Express expect to carry over 36 million passengers in 2025, a year-on-year increase of 27% [4] - Shenyang Public Development (00747.HK) has initiated edge computing infrastructure and service business [5] - Flat Glass Group (06865.HK) plans to absorb and merge with Zhongda Quartz Development [6] Share Buybacks - Xiaomi Group (01810.HK) repurchased 7 million shares for HKD 248 million at prices between HKD 35.22 and HKD 35.48 [7] - Pop Mart (09992.HK) repurchased 500,000 shares for HKD 96.49 million at prices between HKD 191.1 and HKD 194.9 [8] - Sunny Optical Technology (02382.HK) repurchased 970,000 shares for HKD 61.39 million at prices between HKD 62.30 and HKD 63.95 [9] - Geely Automobile (00175.HK) repurchased 2.376 million shares for HKD 39.62 million at prices between HKD 16.62 and HKD 16.81 [10] Financial Instruments - Huaneng International Power (00902.HK) completed the issuance of RMB 2 billion medium-term notes [11] - CICC (03908.HK) plans to issue up to RMB 5 billion in bonds for technology innovation companies [12] Institutional Insights - Dongwu Securities noted that despite a general reduction in the Fed's interest rate cut expectations in overseas markets, domestic investors remain optimistic [13] - Orient Securities highlighted that recent U.S. measures against Venezuela and Greenland have increased geopolitical risks, supporting gold prices [14] - Zheshang Securities suggested that the humanoid robot sector has formed an ecological closed loop, recommending attention to component suppliers and undervalued transformation targets [14] - CITIC Securities indicated that new policies from the National Medical Insurance Administration will accelerate the promotion of surgical robots in China [14]

商报讯(记者郭雨昕)1月20日，吉利银河豪华V系列首发之作，"AI全场景家庭旗舰MPV"——吉利银河 V900上市，共推出3个车型，限时指导价26.98万-32.98万元。 银河V900拥有91.8%得房率，全球最高，车内有效长度达到3.97米，同级最长。在行业尺寸最紧凑的"超 级AI增程系统"加持下，采用"叠竖"布局的银河V900为前舱省下150mm纵向空间，得以全球首创3个 1000+空间。 新车全系标配智能双电机四驱系统，可输出340kW峰值功率与523N.m峰值扭矩，零百成绩6.5秒，其AI 数字底盘，搭载了主动魔毯预瞄、空气悬挂、CCD连续可变阻尼减振器及CST2.0全速域舒适制动系 统，能做到极致舒适，兼顾运动。据悉，银河V900底盘调校由路特斯团队完成，因为吉利银河发现， MPV车主多为高净值群体，具有多年豪车驾驶经验，非常关注整车驾控感受，银河V900要弱化MPV常 有的"司机感"，满足驾驶位的操控乐趣。 行业领先的银河Flyme Auto2新一代AI智能座舱，操作丝滑不卡顿，在行业最强的AI大模型加持下，超 拟人情感智能体Eva具备情感识别与记忆能力，可主动理解驾乘需求，让关怀无微不至。千里 ...

作为吉利银河豪华V系列首发之作， "AI全场景家庭旗舰MPV"吉利银河V900已正式上市。新车共推出3 款车型，上市限时指导价 26.98万-32.98万元。吉利银河V900主打"众口皆可调"理念，让每位驾乘人员 都不需要妥协。 该车拥有91.8%得房率，车内有效长度达到3.97米。在行业尺寸最紧凑的 "超级AI增程系统" 加持下，采 用"叠竖"布局的银河V900为前舱省下150mm纵向空间，实现了超1000mm的二排纵向空间，以及无需调 整前排座位，可同时享有超1000mm的三排纵向空间，200mm的二排中央通道也是同级最宽。在此基础 上，银河V900的后备箱空间同样达到1100L，可容纳15个20寸行李箱。 银河V900提供了11层云感SPA座椅，Nappa真皮、一二排通风、 加热、按摩均配齐，三排可通风、加 热，可电动调节靠背。在远途出行或家庭露营时，27扬声器Flyme Sound无界之声系统配合后排娱乐巨 幕，可以打造沉浸式移动影音厅；-6℃~50℃的超宽温域冷暖箱，可以让车上成员享受到冰镇饮品及温 热汤食。 银河V900全系标配智能双电机四驱系统，可输出340kW峰值功率与523N·m 峰值扭矩， ...

Core Insights - Samsung Display will supply OLED panels for ZEEKR's flagship SUV model, the ZEEKR 9X, marking an expansion into the Chinese market after focusing on the European high-end automotive sector [1][5]. Group 1: Product Details - The ZEEKR 9X features a 16-inch Central Information Display (CID) and a Passenger Information Display (PID), designed to function as a single large screen while also allowing independent use [3][7]. - The 17-inch Rear Seat Entertainment (RSE) screen, developed in collaboration with ZEEKR, can move up to 88 centimeters between the second and third rows, enhancing viewing angles for rear passengers [3][7]. Group 2: Market Expansion - Samsung Display has recently extended its market focus to China, adding partnerships with ZEEKR and other companies, and will supply OLED for the ZEEKR MPV 009 model in 2024 [4][8]. - In the automotive display market, OLED's share was only 6.1% last year but is projected to rise to 20.7% by 2030, with global sales reaching $860.17 million, of which Samsung Display accounted for $577.15 million, representing a 67.1% market share [4][8]. Group 3: Future Outlook - The head of Samsung Display's automotive business stated the company will continue to introduce high-performance products with differentiated value and strengthen partnerships with global automotive clients to lead the growth of the automotive OLED market [4][8].

Group 1 - The UK automotive market is attracting attention from Chinese manufacturers due to the lack of domestic automakers targeting the mass market and the absence of tariffs on Asian electric vehicle imports [1][3] - The UK automotive market has not yet recovered to its pre-pandemic level of 2.5 million vehicles annually, and the entry of Chinese brands is expected to accelerate this recovery [1] - Chinese brands, led by SAIC's MG, doubled their market share in the UK to 10% last year, with BYD and Chery increasing their shares significantly in December [3][5] Group 2 - New entrants such as Geely, Changan, Xpeng, and Leap Motor have entered the UK market since 2023, with Geely's premium electric brand targeting the UK after entering 12 European markets [3] - BYD plans to introduce its high-end brand Tengshi, while Chery may launch its new energy brand Lepas in the UK [5] - The UK market is projected to see Chinese brands capture 20% of the market share by 2028, with plans to offer not only electric vehicles but also fuel and hybrid models [5]

来源：环球网 2026年的中国MPV市场已不是蓝海。随着多款新车集中上市，市场进入"群雄逐鹿"时代，此前由单一 车型主导市场的局面已被彻底打破。 在市场竞争激烈、用户需求多样且快速变化的今天，任何一款车型都难以仅凭单一优势长期维持市场统 治力。当前新车竞争的核心要点，已从"配置是否够多"转向"系统是否成熟、体验是否稳定"。消费者正 在用更理性的眼光，审视一台车的整车系统协同能力、全场景覆盖率和长期使用成本。 在这一背景下，1月20日，吉利银河V900正式上市发布。发布会打破了技术参数的罗列与性能的宣讲套 路，与腾讯视频热门IP《一饭封神》联合，采用一种更富温度和洞察力的叙事方式，向用户抛出了一个 令中国家庭深有感触的命题："怎样才能让大家的百种生活、百种期待，在一饭、一车之间，被安排得 妥妥当当？" 在这场以"众口皆可调"为主题的"大V家宴"中，银河V900作为"AI全场景家庭旗舰MPV"正式亮相，新车 共推出3个车型，上市限时指导价26.98万元至32.98万元。 正如一顿高规格的家宴需要调和全家老小的口味，一台优秀的家庭旗舰MPV，更需要平衡每一位乘员 的多元需求。吉利银河V900给出的答案是：真正的适配 ...

1月20日，吉利银河豪华V系列首款车型——"AI全场景家庭旗舰MPV"——吉利银河V900正式上市，共推出3个车型，上市限时指导价为26.98万元-32.98 万元。 新车以"国际审美，东方表达"为设计理念，前脸采用「水韵金晖」格栅，大灯融入「拱桥映月」设计元素，在全球化美学中融入东方意蕴。 银河V900在空间布局上实现多项突破，车内有效长度达到3.97米，得房率达91.8%。通过"叠竖"布局与紧凑的超级AI增程系统，车辆实现了三个超 1000mm：二排纵向空间超1000mm、三排纵向空间超1000mm，以及1100L后备箱容积，可容纳15个20寸行李箱。此外，200mm的二排中央通道便于车内通 行与照顾家人。 动力方面，银河V900全系标配智能双电机四驱系统，可输出340kW峰值功率与523N·m峰值扭矩，零百成绩6.5秒，其AI数字底盘，搭载了主动魔毯预 瞄、空气悬挂、CCD连续可变阻尼减振器及CST 2.0全速域舒适制动系统。其底盘调校由路特斯团队完成，旨在提升驾驶质感与操控信心。 安全上，银河V900采用"星甲车身"设计，高强度钢占比76.6%，局部采用2000MPa军工级钢材。车辆还配备了133mm ...