从品牌到技术，吉利集团"一个吉利"的整合速度正在加速。 智驾团队整合 近日，吉利宣布对旗下智能驾驶团队进行深度整合，极氪智驾团队（ZID）约1300人整体并入千里科技 （601777），smart智驾团队约100人可选择转岗至千里科技或吉利研究院，而路特斯暂不参与此次调 整。 当前吉利研究院有将近1000人，加上迈驰智行的500人团队，完成合并后，重庆千里智驾团队将达到近 3000人的规模。 同时，合并的方式有所不同。据知情人士透露，极氪1300人的团队涵盖了算法、软件、硬件、测试等全 链条人才。7月30日全员大会通知后，团队成员直接签约千里科技，无需面试。相比之下，smart团队的 人才需要通过面试才能进入千里科技或吉利研究院，虽然难度不大，但突如其来的变动还是让不少人措 手不及。对于不愿签约的员工，大概率能拿到"N+1"的补偿。 对此，《国际金融报》记者向吉利内部员工求证，对方表示情况属实。 企查查显示，重庆千里智驾科技有限公司是一家合资公司，于今年6月27日正式成立。该公司是千里科 技在上市公司之外，与吉利、旷视等合资成立的一家以智驾业务为主体的公司，其中重庆江河启兴、吉 利和旷视各占股30%，为公司三 ...

新浪科技讯 8月5日晚间消息，针对吉利系内部智驾团队大整合一事，吉利控股方面回应称，目前整合 涉及的品牌与方案仍在持续商讨与细化阶段，将在合适的时机主动对外沟通相关进展。 据媒体报道，吉利控股集团近期对吉利系内部智驾公司、团队进行了一轮大整合。极氪、吉利研究院的 智驾团队将一同合并进入重庆千里智驾。重庆千里智驾是千里科技联合吉利等共同组建的合资企业，合 并完成后，吉利将只保留一个智驾团队。 针对此事，吉利控股方面表示，千里科技是吉利重要的战略合作伙伴，双方致力于通过技术赋能和产业 协同，共同推进辅助驾驶系统的创新与应用，并积极探索"AI+车"的发展方向。千里智驾作为双方深化 合作的载体，专注于辅助驾驶解决方案的量产落地。 千里科技和吉利将整合各自的优势资源，共同组建千里智驾的经营管理团队和各职能组织，构建全链路 端到端的辅助驾驶能力。目前整合涉及的品牌与方案仍在持续商讨与细化阶段，千里智驾的管理团队也 在紧锣密鼓的搭建中，将在合适的时机主动对外沟通相关进展。 完成整合后的千里智驾将是一家独立的公司，并成为吉利人工智能生态的核心伙伴之一。千里智驾将会 面向全行业提供行业领先的辅助驾驶方案。吉利也将凭借中国车企第 ...

Core Viewpoint - The integration of the "Geely system" autonomous driving teams is underway, with plans to merge various teams into Chongqing Qianli Autonomous Driving Technology Co., Ltd, involving approximately 3,000 personnel [1][2]. Group 1: Integration Details - The integration involves the Zeekr autonomous driving team, Geely Research Institute, and the autonomous driving brand "Mochi Zhixing" under Megvii Technology, aiming to consolidate resources and enhance operational efficiency [1][2]. - The management team for Qianli Autonomous Driving is being established, with ongoing discussions about the integration plan and involved brands [1][2]. - Qianli Autonomous Driving will operate as an independent company, focusing on the mass production of autonomous driving solutions and becoming a core partner in Geely's AI ecosystem [2][3]. Group 2: Strategic Focus - The integration aligns with Geely's "One Geely" strategic focus, which emphasizes strategic integration, collaboration, and efficiency across various business areas [4][5]. - Geely's previous initiatives, such as the unified autonomous driving solution "Qianli Haohan," indicate a shift towards a more cohesive approach in the autonomous driving sector, covering a wide range of vehicle price segments [4][5]. - The company aims to leverage scale effects in technology and product offerings, allowing for differentiated configurations based on brand positioning while maintaining a unified autonomous driving system [5].

Core Viewpoint - The integration of various autonomous driving teams within Geely, including Zeekr, Geely Research Institute, and Maimai Zhixing, into Chongqing Qianli Zhijia Technology Co., Ltd. is aimed at enhancing efficiency and reducing costs in the autonomous driving sector [1][6]. Group 1: Company Structure and Strategy - Qianli Zhijia will become an independent company focused on mass production of autonomous driving solutions, serving as a core partner in Geely's AI ecosystem [2][5]. - The company was established on June 27, 2025, with a registered capital of 200 million RMB, and its major shareholders include Maimai Zhixing and Zhejiang Jirun Automotive Co., Ltd. [3][5]. - The integration reflects Geely's strategic focus on "One Geely," emphasizing resource consolidation and operational efficiency across its various brands and teams [7][8]. Group 2: Market Position and Future Plans - The integration is expected to enhance the development of autonomous driving technologies by pooling resources and data from different teams, which is crucial for improving research efficiency [6][8]. - Geely aims to leverage the scale effect of its unified autonomous driving system, "Qianli Haohan," which covers a wide range of vehicle price segments [7][8]. - The company has set a sales target of 3 million vehicles for the year, which will help distribute R&D costs and enhance the scalability of its autonomous driving systems [8].

校检：陈沙、孙朝阳 审核：朱沙 近日，吉利汽车集团首席执行官（CEO）淦家阅在2025年度中期经营工作大会上宣布，下半年将推出极 氪9X、领克10 EM-P、吉利银河A7及吉利银河M9等5款全新智能电混产品，还有千里浩瀚智能安全辅助 驾驶H9方案、雷神醇氢技术、新一代Flyme Auto智能座舱系统等多项创新科技落地应用。 来源：北京日报客户端 同时，聚焦"一个吉利"，淦家阅还明确了极氪、领克、吉利银河及中国星四大品牌要全方位协同作战， 深化"七纵"技术协同，打造差异化产品矩阵体系，聚势革新，韧稳行远，全力冲刺300万辆年度目标。 转自：北京日报客户端 ...

Group 1 - Baoji, known as the birthplace of Zhou and Qin civilization, has a rich history in bronze production and is home to significant historical artifacts like the Stone Drum [2][4] - The city has a resilient spirit, nurturing generations of hardworking people, and has been a vital industrial hub, especially during the Anti-Japanese War [4][7] - During the war, many patriotic industrial enterprises relocated to Baoji, establishing factories that supported the front lines and contributed to a significant industrial narrative of "saving the nation through industry" [7][9] Group 2 - The Changleyuan Anti-Japanese Industrial Site in Baoji contains four historical relics, including the largest "cave factory" from the war period, showcasing the region's industrial heritage [9][11] - In 1938, as Japanese forces advanced, 15 enterprises, including the Shinxin Spinning Factory, relocated to Baoji, forming the "Qinbao Ten-Mile Industrial Zone," which accounted for 20.56% of national industrial enterprises at that time [11][20] - The cave factory produced 432,000 pieces of cotton cloth and 64,000 tons of cotton yarn, significantly supporting the war effort [20][22] Group 3 - The relocation of industries to Baoji brought advanced management concepts and production equipment, which helped the local economy grow [22][24] - By 1951, the Shinxin Spinning Factory contributed to the development of the Northwest's industrial landscape by sending managers and technicians to various factories [24][26] - Today, Baoji has transformed into a major industrial city, particularly in the automotive and titanium materials sectors, with a projected automotive industry output value of 60 billion yuan in 2024 [29][35] Group 4 - Baoji is recognized as "China's Titanium Valley," hosting over 600 titanium enterprises, and its titanium industry ranks first globally, with products used in various high-tech fields [37][38] - The city is actively developing emerging industries and has become a significant production base for mid-to-high-end CNC machine tools, emphasizing green development and environmental protection [38][40] - The Changleyuan Anti-Japanese Industrial Site stands as a testament to the resilience and innovative spirit of the Chinese people, symbolizing the enduring industrial legacy of Baoji [42]

Core Insights - July saw a moderate growth in the new energy vehicle (NEV) market despite being a traditional off-peak season for passenger car sales, with delivery volume growth slowing down year-on-year [2][3] - The overall delivery volume of NEVs in July showed a year-on-year increase of 11.2% but a month-on-month decrease of 6.2% among 11 car manufacturers [2][3] - The upcoming months are expected to see improved sales as multiple new models are set to launch, coinciding with the traditional peak sales season in September and October [6] Company Summaries - **BYD**: In July, BYD sold 341,030 passenger vehicles, a slight year-on-year increase but a month-on-month decrease of 9.7%. Exports reached 80,178 units, a significant year-on-year increase of 159.5% [2][3] - **Xiaomi Auto**: Achieved over 30,000 deliveries in July, marking a new monthly delivery record [2] - **Horizon Smart Mobility**: Delivered 47,752 units in July, an 8.3% increase year-on-year, but a 9.5% decrease month-on-month [3] - **Xpeng Motors**: Delivered 36,717 units in July, with year-on-year and month-on-month growth of 229.4% and 6.1%, respectively, setting a new monthly delivery record [3] - **Li Auto**: Delivered 30,731 units in July, with year-on-year and month-on-month declines of 39.7% and 15.3% [3] - **NIO**: Delivered 21,017 units in July, with a year-on-year increase of 2.5% but a month-on-month decrease of 15.7% [4] - **Leap Motor**: Achieved 50,129 deliveries in July, marking a year-on-year increase of 127% and a month-on-month increase of 4% [4] - **Avita**: Delivered 10,062 units in July, with a year-on-year increase of 177.6% but a slight month-on-month decrease of 0.9% [5] Market Outlook - The market is expected to improve in August as several new models are set to launch, including Li Auto's i6 and new versions of Xpeng's P7 and Horizon's R7 and S7 [6] - The industry remains optimistic about BYD's smart driving and export capabilities, as well as Xpeng's new model launches contributing to sales and profit margin improvements [6]

Core Viewpoint - The article discusses the strategic developments of Qianli Zhijia, a new company formed by the integration of various teams from Geely, focusing on intelligent driving technology and AI applications in the automotive industry [2][4]. Group 1: Company Formation and Leadership - Qianli Zhijia has absorbed approximately 2,500 employees from Geely, including around 1,500 from Zeekr and nearly 1,000 from Geely Research Institute, resulting in a total workforce of 3,000 [2]. - The company has secured over 1.7 billion yuan in cash contributions from shareholders, indicating strong financial backing for its operations [2]. - The leadership team includes Yin Qi, a graduate from Tsinghua University with expertise in algorithms, and Wang Jun, former president of Huawei's Intelligent Automotive Solutions BU, who brings practical experience [2][4]. Group 2: Strategic Partnerships and Transactions - Qianli Zhijia aims to consolidate all intelligent driving teams under one umbrella, with a focus on creating a unified intelligent driving team [4]. - The company announced a 345 million yuan deal to transfer the intellectual property rights of a range-extended vehicle technology to Ningbo Geely Automotive Research Institute [4][5]. - Qianli Technology, under Yin Qi's control, has become the second-largest shareholder of Qianli Zhijia after acquiring 2.43 billion yuan worth of shares from Geely [5]. Group 3: Technological Development and Product Offerings - The company is shifting the automotive industry focus from "car + AI" to "AI + car," aiming to integrate large model technology with product scenarios and hardware capabilities [7]. - Qianli Technology has launched the Qianli Haohan intelligent driving system, which includes five solutions (H1, H3, H5, H7, H9) that will cover the entire Geely vehicle lineup [5][7]. - The flagship version of the Qianli Zhijia solution boasts a computing power of 700 TOPS, enabling complex autonomous decision-making and interactions [13]. Group 4: Financial Performance and Future Outlook - Qianli Technology reported a revenue of approximately 1.81 billion yuan for the current period, reflecting a 28.47% increase compared to the previous year [20]. - The net profit attributable to shareholders was around 20 million yuan, marking a 29.82% increase year-on-year [20]. - The company aims to accelerate its technology business layout, projecting rapid growth in performance by 2026 [20].

Group 1: Market Performance - In the first half of the year, China's automotive production and sales both exceeded 15.6 million units, with year-on-year increases of 12.5% and 11.4% respectively [2] - Passenger car production and sales surpassed 13.5 million units, reflecting a growth of approximately 13% [2] - The sales data prompted various automakers to adjust their annual targets, with some expressing confidence and others entering a "wartime state" due to competitive pressures [2][3] Group 2: Company Strategies and Targets - Geely Auto achieved 52% of its annual sales target with 1.409 million units sold, leading to an 11% upward revision of its target from 2.71 million to 3 million units [3] - Dongfeng Motor aims to challenge a sales target of 1.88 million units in the second half, with a total goal of 3 million units, including 1 million in new energy vehicles [3] - Chery Auto plans to reach a sales target of 2 million units in the second half, with a revenue goal of over 600 billion yuan [3] Group 3: Product Launches and Innovations - Several automakers are set to launch new models in the second half, including SAIC's new vehicles and Geely's five hybrid products [4] - The automotive industry is focusing on the iteration of intelligent technologies, with more L3-level conditional autonomous driving solutions expected to be announced [5] - Companies like Chery and Geely are restructuring their organizational frameworks to enhance operational efficiency and product development [5] Group 4: Profitability Challenges - Despite strong sales growth, the automotive industry faces low profit margins, with a reported profit margin of 4.8% for the first half of the year, below the industrial average of 5.15% [6] - From 2020 to 2024, the industry's profits decreased from 215.1 billion yuan to 65.4 billion yuan, a reduction of 70% [6] - Many automakers, including GAC Group and BAIC Blue Valley, are expected to report significant losses for the first half of the year due to various operational challenges [7][8] Group 5: Industry Competition and Regulation - The automotive industry is experiencing increasing pressure to address "involution" in pricing, with government bodies taking steps to regulate competition [9][10] - Recent government meetings have focused on curbing irrational competition in the new energy vehicle sector, which has been detrimental to profit margins [10] - Experts suggest that while regulatory measures may help stabilize profit margins, addressing the root causes of irrational pricing behavior is essential for long-term improvement [11]

Group 1 - The core viewpoint indicates that Geely's sales market share is expected to continue increasing, with total sales in July reaching 237,700 units, a year-on-year increase of 57.7% and a month-on-month increase of 0.7% [1] - In July, Geely's new energy vehicle sales reached 130,100 units, representing a year-on-year growth of 120.4% and a month-on-month growth of 6.3% [1] - For the first seven months of the year, Geely's total sales amounted to 1,646,900 units, a year-on-year increase of 48.8%, achieving 55% of the annual sales target of 3 million units by July [1] Group 2 - Geely Galaxy's sales performance is strong, with July sales of 95,000 units, a year-on-year increase of 469.0% and a month-on-month increase of 5.3% [2] - The Geely China Star model sold 98,500 units in July, with high-end series sales reaching 29,800 units, indicating strong market recognition for the Galaxy brand [2] - The Galaxy A7, equipped with advanced technology, is set to launch on August 8, which is expected to enhance the brand's presence in the mid-sized sedan market [2] Group 3 - Zeekr brand sales in July reached 17,000 units, a year-on-year increase of 8.4% and a month-on-month increase of 1.6% [3] - Lynk & Co brand sales in July were 27,200 units, showing a year-on-year increase of 27.9% and a month-on-month increase of 3.4% [3] - The Zeekr 9X, a luxury full-size SUV, is expected to set a benchmark in the plug-in hybrid luxury SUV market, following significant marketing reforms aimed at improving sales and profitability [3] Group 4 - The forecast for EPS from 2025 to 2027 is 1.50, 1.76, and 2.13 yuan respectively, maintaining a target price of 22.50 yuan (or 24.70 HKD) based on a PE ratio of 15 times [4]