Core Viewpoint - The article discusses the current state and trends in the pickup truck market in China, highlighting sales performance, export growth, and the rise of new energy pickups. Group 1: Pickup Truck Sales - In July 2025, the pickup truck market sold 41,000 units, a year-on-year increase of 1.7% but a month-on-month decrease of 15.0%, aligning with the median level of the past five years [2][6] - From January to July 2025, total sales reached 348,000 units, reflecting a year-on-year growth of 11.0% [2][6] - Great Wall Motors continues to lead the market, with strong performances both domestically and internationally, supported by export demand [2][3] Group 2: Regional Demand - The main demand for pickups is concentrated in the Southwest and Northwest regions, which accounted for 45% of total demand in July 2025 [2] - The growth of new energy pickups is notable in cities like Shenzhen and Guangzhou, indicating a strong potential for domestic demand [2] Group 3: Export Performance - In July 2025, pickup truck exports reached 23,000 units, a month-on-month decline of 13% but a year-on-year increase of 13% [2][3] - Exports accounted for 56% of total pickup sales in July 2025, up from 45% in 2024, indicating a significant improvement in China's pickup truck export capabilities [2][3] Group 4: New Energy Pickup Trucks - In 2024, the sales of new energy pickups are projected to reach 21,200 units, marking a substantial year-on-year growth of 170% [3] - In July 2025, new energy pickups sold 4,000 units, a year-on-year increase of 182% but a month-on-month decrease of 41% [3] - Cumulatively, from January to July 2025, new energy pickup sales reached 46,000 units, reflecting a staggering growth of 702% compared to the previous year [3]

Investment Rating - The report maintains an investment rating of "Outperform the Market" for the lithium battery industry [4][10]. Core Insights - The lithium battery sector is experiencing a general price increase across the supply chain, with a focus on short-term price trends and monthly sales performance [4]. - In July 2025, the lithium battery index rose by 2.47%, while the new energy vehicle index increased by 3.15%, both underperforming compared to the Shanghai and Shenzhen 300 index, which rose by 3.37% [4]. - The report highlights a significant year-on-year growth in new energy vehicle sales, with July 2025 sales reaching 1.262 million units, a 27.35% increase compared to the previous year [4][14]. - The report emphasizes the importance of monitoring upstream raw material prices, monthly sales, and relevant domestic and international trade policies [4]. Summary by Sections 1. Market Review - The lithium battery sector's performance in July 2025 was weaker than the broader market, with 63 stocks rising and 41 falling within the sector [8][9]. - Key stocks in the sector showed varied performance, with notable gains from companies like Zhongcai Technology and Haopeng Technology [8]. 2. New Energy Vehicle Sales and Industry Prices - New energy vehicle sales in China reached 1.262 million units in July 2025, marking a 27.35% year-on-year increase [14]. - The report projects continued growth in the new energy vehicle market, supported by favorable policies and improved vehicle cost-performance ratios [14]. 3. Industry and Company News - The report outlines significant industry developments, including the release of new electric vehicle models and government initiatives to promote low-carbon transportation [54][56]. - It also notes the collaboration between major companies like CATL and BHP to enhance mining operations and battery recycling [56]. 4. Price Trends in the Supply Chain - As of August 13, 2025, the price of battery-grade lithium carbonate was 82,000 CNY/ton, reflecting a 33.88% increase from early July [4][39]. - The report indicates that prices for lithium hydroxide and other key materials are also on the rise, suggesting a potential upward trend in the short term [4][42]. 5. Investment Focus - The report suggests that investors should focus on leading companies within the lithium battery sector, as individual stock performance is expected to diverge [4]. - It highlights the importance of staying informed about raw material price movements and market dynamics to identify investment opportunities [4].

智通财经APP获悉，截止8月14日收盘，东北电气(00042)、复旦张江(01349)、弘业期货(03678)分列AH 溢价率前三位，溢价率分别为785.25%、230.34%、226.10%；宁德时代(03750)、恒瑞医药(01276)、招 商银行(03968)分列AH溢价率末三位，溢价率分别为-20.14%、-5.11%、4.67%。其中安德利果汁 (02218)、复旦张江(01349)、金力永磁(06680)的偏离值位居前三，分别为28.98%、27.73%、14.39%；另 外，比亚迪股份(01211)、东北电气(00042)、龙蟠科技(02465)的偏离值位居后三，分别 为-150.95%、-72.83%、-44.57%。 前十大AH股溢价率排行 | 股票名称 | H股(港元) | A股 | 溢价率↓ | 偏离值 | | --- | --- | --- | --- | --- | | 东北电气(00042) | 0.305 | 2.25 | 785.25% | -72.83% | | 复旦张江(01349) | 3.790 | 10.45 | 230.34% | 27.73% | | 弘业期货(0 ...

Core Viewpoint - BYD has launched its new mid-size SUV, the Sea Lion 06, with a focus on innovative technology and a youthful brand image, aiming to enhance its market presence in the new energy vehicle sector [1] Group 1: Product Launch Details - The official price range for the Sea Lion 06 DM-i model is set between 139,800 to 156,800 yuan, while the Sea Lion 06 EV model's pricing was also announced [1] - The Sea Lion 06 DM-i features BYD's fifth-generation DM technology, achieving a fuel consumption of 3.5L per 100km under NEDC conditions, with a combined range of 1,670km when fully fueled and charged [1] Group 2: Technological Advancements - The Sea Lion 06 is equipped with the DiPilot 100, which includes the BYD Tian Shen Zhi Yan C-auxiliary driving system, offering advanced features such as high-speed navigation assistance and all-scenario intelligent parking assistance [1] - These technological enhancements significantly improve driving safety and convenience for users [1] Group 3: Strategic Positioning - The Sea Lion 06 is positioned as a core component of BYD's brand strategy, focusing on youthfulness and innovation, reflecting a stronger new energy gene and product positioning [1] - The Ocean Network, under which the Sea Lion 06 is launched, has achieved cumulative sales figures that underline its strategic importance to BYD's overall market strategy [1]

责任编辑：何俊熹 据介绍，网易云音乐播放器皮肤"神光模式"上线车机端，目前已在部分比亚迪DiLink车型首发，更多车 型将陆续支持该功能。 新浪科技讯 8月14日下午消息，网易云音乐车机端发布首款歌词动效播放器，比亚迪为首批支持的合作 车企。 ...

来源：上海证券报·中国证券网 在智能化方面，海狮06全系标配比亚迪天神之眼C-辅助驾驶三目版（DiPilot 100），支持高快领航辅助、全场景智能泊车辅助等功能，覆盖日常出行的各种 场景，大幅提升驾驶安全性和便利性。智能座舱高阶版-DiLink 100赋予用户个性化体验，支持ONE ID设置、手机NFC车钥匙等功能，满足用户对智慧出行 的多元化需求。 比亚迪有关负责人介绍，作为比亚迪品牌战略布局的核心板块，海洋网肩负品牌年轻化与创新突破的战略使命，具有更鲜明的新能源基因与年轻化产品定 位。截至目前，比亚迪海洋网累计销量已突破520万辆，其中海鸥车型销量已突破百万。 上证报中国证券网讯（记者 俞立严）比亚迪海洋网全新中型SUV海狮06上市暨试驾活动日前在杭州举行，新推出的海狮06DM-i车型官方指导价为13.98 万-15.68万元、海狮06EV官方指导价为14.38万-16.38万元。 比亚迪有关人士介绍，在新能源动力方面，海狮06以技术赋能体验，海狮06DM-i搭载比亚迪第五代DM技术，兼顾高效能和长续航，NEDC工况百公里亏电 油耗3.5L，满油满电综合续航里程1670km，适合家庭通勤和长途自驾。海狮 ...

格隆汇8月14日｜华安证券研报指出，比亚迪海外扩张加速，DM-i 5.0油耗进一步降低。淡季来临，消 化库存，7月销量短期承压。今年以来纯电动车型增速显著高于插电混动车型。7月比亚迪出口8.1万 辆，同比大增169%，环比略降10%；1-7月累计出口54.5万辆，同比+133%。环比回落主因巴西关税提 高（7月起纯电进口税从18%提至25%，插混从20%提至28%）导致短期运输调整。比亚迪在海外的重点 市场是土耳其、英国以及欧洲整体。主要车型是混动车型宋PLUSDM-i等。受益于高端化产品占比提升 和海外出口扩张加速，认为公司销量和盈利能力均有望稳步提升，预计2025-2027年实现销量499、 572、658万台，归母净利润509、626、744亿元，维持"买入"评级。 ...

Core Viewpoint - H harmonious Automotive (03836) shares surged over 22% following the announcement of a proposed sale of 45% of its restructuring capital to its controlling shareholder, Feng Changge [1] Company Summary - H harmonious Automotive's stock rose by 22.09%, reaching HKD 2.1, with a trading volume of HKD 17.036 million [1] - The company is focusing on expanding its overseas operations in the new energy vehicle (NEV) distribution business [1] - The partnership with leading Chinese NEV brands like BYD and Denza is part of H harmonious Automotive's strategy to accelerate global expansion [1] Industry Summary - According to Guotai Junan Securities, domestic NEV manufacturers have been experiencing rapid growth overseas due to cost and product advantages [1] - The increased involvement of domestic dealers in overseas markets is expected to enhance the bargaining power of Chinese NEVs by creating a closed-loop industrial chain [1] - H harmonious Automotive has opened its 100th BYD store overseas, indicating significant progress in its global expansion strategy within just two years [1]

Group 1 - The core viewpoint of the article highlights the recent stock performance of BYD Electronics, which experienced a decline of 3.18%, trading at 39.56 HKD per share with a transaction volume of 4.92 billion HKD [1] - BYD Electronics is identified as a leading global platform-based high-end manufacturing enterprise, providing a comprehensive range of services including new material development, product design and R&D, component and complete machine manufacturing, supply chain management, logistics, and after-sales services [1] - The company's business spans multiple diversified market sectors such as smartphones, tablets, new energy vehicles, smart home devices, gaming hardware, drones, IoT, robotics, communication equipment, and healthcare [1] Group 2 - As of the 2024 annual report, BYD Electronics reported total operating revenue of 177.306 billion RMB and a net profit of 4.266 billion RMB [2] - BYD Electronics is scheduled to disclose its mid-year report for the fiscal year 2025 on August 29 [3]

【DT新材料】 获悉，8月7日，海丰县人民政府发布了 《深汕合作拓展区比亚迪项目环境影响报告 表审批前公示》 。 该建设单位为 比亚迪 旗下的电池制造企业 汕尾弗迪电池有限公司 （简称"汕尾弗迪"），位于广东 省汕尾市海丰县天星湖片区，主要建设9栋厂房等建构筑物，生产动力电池5088万只/年，总容量为 15GWh/年。 据悉，这已经是今年以来弗迪电池第7个项目出现新进展了，之前6个分别是： （1）芜湖市无为市弗迪电池有限公司比亚迪新能源动力电池长三角制造中心(三期)建设项目，投资 24亿元，建成后形成年产电池包18.48万件、钢托盘108万件、铝托盘48万件、液冷板36万件的生产 能力。 （2）绍兴弗迪年产15GWh锂电池及配套项目，总投资60亿元。此次公示的为二期项目。 （3）长沙弗迪电池有限公司PACK 产线 扩建项目，扩建后可年产19GWh电池包、5万件机加产品、 年质检量990件。 （4）潍柴弗迪（烟台）新能源动力产业园项目一期正式投产，首台搭载潍柴和弗迪最新技术的动力 电池产品——WEB602V160电池包下线。 （5）台州弗迪新能源动力电池项目获批，计划总投资100.2亿元，形成年产22GWh新能 ...