Core Insights - The report titled "2025 Consumer Rankings: Decoding Consumption Trends" was officially released by the World Research Index on January 27, providing a systematic analysis of hot categories, brands, and consumption hotspots for 2025, aimed at helping businesses accurately grasp consumption trends and identify growth opportunities [1]. Group 1: Key Observations - The report's core observation revolves around two main themes: "Rational Foundation, Value Return" and "Emotional Leap, Scene Integration," utilizing a proprietary consumption index evaluation system developed by the World Research Index [4]. - The report systematically outlines annual hot categories, the top 100 brands, twelve major industry hot brands, a hot consumption map, and key events, presenting an objective and dynamic view of consumption trends in the Chinese market [4]. Group 2: Annual Hot Categories - The top annual hot categories include cooking oils and seasonings (1.82), mobile communications (1.74), major appliances (1.70), and main fermented foods (1.65), indicating a strong consumer focus on essential goods and the continued penetration of technology in daily life [6]. - Categories such as smart devices (1.59) and facial care (1.55) reflect a trend towards intelligent and convenient upgrades in consumer products [6]. Group 3: Annual Brand Rankings - The top brands in the annual brand rankings include Apple (1.93), BYD (1.91), and Huawei (1.82), showcasing strong brand loyalty and consumer interest in technology and lifestyle products [8]. - In the 3C digital and home appliance sectors, brands like Apple, Huawei, and Xiaomi are noted for their innovation in AI smartphones and smart home products, indicating a shift towards integrated smart living solutions [12]. Group 4: Industry Trends - The outdoor trend is reshaping the sportswear and outdoor industries, with domestic brands like Anta and Li Ning leveraging functional technology and aesthetic styles to penetrate everyday fashion, promoting a "national outdoorization" consumption trend [14]. - The pet product market is evolving from basic care to high-quality living, with brands focusing on scientific and premium offerings, driven by trends towards "humanization" in pet care [19]. Group 5: Consumption Hotspots - The report identifies social livelihood and digital technology as the two main engines of annual consumption hotspots, intertwined with seasonal rhythms and cultural tourism emotions, shaping a rich and interconnected consumption pulse [24]. - Key consumption events for 2025 have shifted from traditional holiday promotions to a diverse network of social emotions, technological innovations, and cultural phenomena, marking the entry into an era of omnipresent consumption triggers [26].

2025年，中国车企在欧洲市场实现新的突破。市场研究机构Dataforce的统计数据显示，在上汽名爵（MG）、比亚迪、奇瑞等 车企的引领下，2025年12月，中国车企在欧洲的月销量首次突破10万辆大关，同比增长逾1倍，单月市场占有率攀升至9.5%。从 全年维度来看，2025年中国车企欧洲销量同比大涨99%至81.1万辆，市占率攀升至创纪录的6.1%。 这组数字绝非简单的销量数据，而是中国汽车工业从"产品输出"迈向"生态扎根"的里程碑。欧洲作为全球汽车工业的发源地， 不仅是大众集团、宝马、梅赛德斯-奔驰等传统巨头的"主场"，更有着对汽车品质、安全标准极为严苛的消费群体，以及深厚的本土 品牌忠诚度。中国车企能在此实现爆发式增长，其意义远超市场份额的提升，标志着中国汽车产业在全球化竞争中，已成功突破低 成本标签的桎梏，构建起技术、本地化、政策应对"三位一体"的新竞争力。 这一里程碑的达成，首先是中国车企精准应对贸易政策变化、灵活调整市场策略的必然结果。2024年10月底，欧盟开始对中国 产纯电动汽车加征最高35.3%的反补贴关税，叠加10%的基础关税，部分车型综合税率超过45%，贸易壁垒陡然升高。面对挑战， 中国车 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年1月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 比亚迪股份有限公司 呈交日期: 2026年2月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01211 | | 說明 | | | | | | | | | 多櫃檯證券代號 | 81211 | RMB | 說明 | | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | | 3,683,400,000 | RMB | | | 1 RMB | | 3,683,400,000 | | 增加 / 減少 (-) | | | | | | | | RMB | | | | 本月底結存 | | | | 3, ...

Core Viewpoint - BYD officially announced the launch of its new automotive brand "Linghui Auto," targeting the mobility market with a focus on "uncompromised technology and more affordable pricing" to fill a gap in the current electric vehicle market [1] Group 1: Market Positioning - Linghui Auto aims to address the market gap between high-priced luxury models and mainstream products that lack performance and experience [4] - The new brand is positioned to offer competitive pricing while enhancing the driving experience through advanced technology [4] Group 2: Technological Integration - Future products from Linghui Auto are planned to feature advanced systems such as the "Tianshen Eye" driver assistance system and the "Yunlian" intelligent body control system [4] - The brand will leverage existing technologies from BYD, including the e-platform 3.0, fifth-generation DM technology, and the eight-in-one electric drive platform [4]

2月2日，比亚迪全新子品牌领汇汽车正式官宣亮相，品牌定位"超价值出行践行者"，品牌愿景为"以技 术创新重新定义出行"，主打"技术不妥协、价格更亲民"。据悉，领汇汽车未来将搭载"天神之眼"辅助 驾驶系统、云辇智能车身控制系统等配置，并整合e平台3.0、第五代DM技术等资源，择机应用在产品 车型上。 免责声明：Mysteel发布的原创及转载内容，仅供客户参考，不作为决策建议。原创内容版权归Mysteel所有，转载需取得Mysteel书面授 权，且Mysteel保留对任何侵权行为和有悖原创内容原意的引用行为进行追究的权利。转载内容来源于网络，目的在于传递更多信息，方 便学习与交流，并不代表Mysteel赞同其观点及对其真实性、完整性负责。 资讯编辑：王芳琴 021-66896877 资讯监督：乐卫扬 021-26093827 资讯投诉：陈跃进 021-26093100 ...

证券之星消息，2月2日乘用车板块较上一交易日下跌1.96%，比亚迪领跌。当日上证指数报收于4015.75，下跌2.48%。深证成指报收于13824.35， 下跌2.69%。乘用车板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 601127 | 赛力斯 | 104.45 | 0.35% | 23.55万 | 24.93亿 | | 600104 | 上汽集团 | 14.05 | -0.64% | 66.10万 | · 9.36 Z | | 000625 | 长安汽车 | 11.01 | -0.99% | 59.60万 | 6.60亿 | | 601633 | 长城汽车 | 20.44 | -1.21% | 17.45万 | 3.59亿 | | 601238 | 广汽集团 | 7.79 | -1.64% | 27.52万 | 2.16亿 | | 000572 | 海马汽车 | 6.73 | -2.18% | 58.45万 | 4.00亿 | | 600733 | 北汽蓝谷 | 7 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年1月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 比亚迪股份有限公司 呈交日期: 2026年2月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01211 | | 說明 | | | | | | | | | 多櫃檯證券代號 | 81211 | RMB | 說明 | | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | | 3,683,400,000 | RMB | | | 1 RMB | | 3,683,400,000 | | 增加 / 減少 (-) | | | | | | | | RMB | | | | 本月底結存 | | | | 3, ...

Market Overview - Asian stocks declined, following Wall Street's downward trend, due to ongoing trade tensions, uncertainty over U.S. monetary policy, and heavy selling in precious metals [1] - Precious metals, including gold and silver, saw significant declines, with gold dropping over 5% and silver nearly 8% [2] - Oil prices fell nearly 5% amid reports of U.S. and Iran readiness to negotiate an agreement to ease tensions [2] Chinese Market - Chinese and Hong Kong markets experienced sharp declines, with China Vanke warning of an 11.8 billion net loss for 2025 and BYD reporting a 30.1% year-on-year drop in vehicle sales for January [3] - The Shanghai Composite index fell 2.48% to 4,015.75, while the Hang Seng index dropped 2.23% to 26,775.57 [3] - Both China Vanke and BYD shares fell more than 4% in Shanghai [3] Economic Data - China's official manufacturing purchasing managers' index (PMI) was reported at 49.3, below forecasts, indicating contraction, while the non-manufacturing PMI also fell into contraction [4] - A private gauge indicated that Chinese manufacturing activity continued to expand in January [4] Japanese Market - The Nikkei average decreased by 1.25% to 52,655.18, reversing early gains, while the broader Topix index settled 0.85% lower at 3,536.13 [5] - Major companies like SoftBank Group, Advantest, Disco Corp, and Lasertec saw declines ranging from 3.8% to 14% [5] - Investors overlooked a private-sector survey indicating Japan's manufacturing activity grew at the fastest pace in about three and a half years [6] South Korean Market - The Kospi average plunged 5.26% to 4,949.67, ending a four-session winning streak, with major companies like Hyundai Motor and Samsung Electronics falling between 4% and 9% [7] - The Korea Exchange issued a sell-side circuit breaker for 5 minutes during the trading session [7] Australian and New Zealand Markets - Australian markets closed lower, with the S&P/ASX 200 falling 1.02% to 8,778.60, driven down by financials and materials amid rate hike concerns [7] - New Zealand's S&P/NZX-50 index finished marginally lower at 13,412.44 [8] U.S. Market Influence - U.S. stocks ended lower, with the dollar index climbing and Treasury yields surging after President Trump nominated Kevin Warsh for Fed Chair, leading to a hawkish shift in U.S. monetary policy [8][9] - Warsh is perceived as skeptical of loose monetary policy and has previously criticized the Fed for underestimating inflation risks [9]

Core Insights - Southeast Asia's automotive industry is entering a policy adjustment window from late 2025 to early 2026, with Thailand significantly reducing electric vehicle (EV) tax rates and Malaysia ending tax exemptions for imported pure electric vehicles, shifting from broad consumer subsidies to more refined industrial guidance [1][2]. Policy Adjustments - Southeast Asian automotive markets are revising their industrial incentive policies, aiming to use tax and access regulations to attract international capital and technology [2]. - Thailand's new vehicle consumption tax will reduce the tax rate for pure electric vehicles to 2% by 2026, with conditions for plug-in hybrid vehicles to include local manufacturing of batteries and advanced driver-assistance systems (ADAS) [2]. - Malaysia has ended the road tax exemption for imported pure electric vehicles, implementing a tiered tax system based on motor power, encouraging local production while maintaining consumer interest [4]. Market Dynamics - Indonesia shows significant potential, with electric vehicle sales projected to grow by 49% in 2025, accounting for over 15% of total new car sales, making it the fourth largest export market for Chinese electric vehicles globally [5]. - By the end of 2025, 16 Chinese automotive brands will have entered the Indonesian market, surpassing Japanese brands, although Japanese brands still dominate in new car sales with Toyota holding a 31.6% market share [7]. - In Malaysia, Chinese brands are leading the electric vehicle market, with seven out of the top ten pure electric vehicle models being Chinese, and BYD emerging as the top-selling brand [7][8]. Competitive Landscape - The competition is shifting from product export to a comprehensive localization strategy that includes manufacturing, research and development, sales, and ecosystem integration [9]. - Geely aims for an export target of 640,000 vehicles by 2026, expanding its presence in Thailand with plans for new showrooms and service centers [11]. - Chery is establishing Malaysia as a regional production and export hub, investing 2.2 billion ringgit in a new factory with a capacity of 100,000 vehicles per year [11]. Future Outlook - The future of the Southeast Asian automotive market will be determined by refined policy guidance, infrastructure development, and the depth of localization by automotive companies [12]. - Chinese automotive companies will need to deepen their full industry chain localization to consolidate and expand their market share, moving beyond initial advantages gained through product cost-effectiveness and early electric vehicle adoption [12].

Market Performance - The Hang Seng Index closed down by 2.23% and the Hang Seng Tech Index fell by 3.36% [1] - Precious metals experienced significant declines, with Shandong Gold and Chifeng Gold dropping over 12%, Lingbao Gold down over 8%, and China Silver Group also down over 8% [1] Automotive Sector - Automotive stocks declined, with BYD falling nearly 7% and Xpeng Motors down over 6% [1] Telecommunications Sector - The three major telecom operators collectively weakened, with China Unicom down over 6%, China Telecom down over 5%, and China Mobile down over 2% [1] - The adjustment of the value-added tax rate for telecom services from 6% to 9% will impact the revenue and profits of these three companies [1]