南方财经记者 吴佳楠 深圳报道 美国学者雅各布斯曾说："当我们面对城市时，我们面对的是一种生命，一种最为复杂、最为旺盛的生 命。" 那么城市的生命力源自何处？ 在深圳，企业不仅是这座城市产业史诗的参与者，更是创新生态持续奔涌、城市活力永远年轻的深层叙 事。 在深圳经济特区成立45年间，一批批年轻人来到深圳，从工商注册成长为上市公司或独角兽企业创始 人，华为、比亚迪、腾讯、大疆等企业在这里诞生、壮大，推动深圳的企业创新从"三来一补"向"硬核 科技"变迁。 当新赛道接踵而来时，"新茶饮第一股""中国人形机器人第一股""全球智能影像第一股"等接连在深圳诞 生，深圳企业的创新活力再一次释放。 现如今，在深圳，民营经济贡献了全市约50%以上的税收、近60%的增加值、90%以上的就业，民营企 业还为深圳贡献了"6个90%"，凸显创新主体地位。截至今年6月底，深圳共有A股上市公司425家，市值 10.39万亿元，分别居全国大中城市第三、第二。 面向城市未来，深圳还有多家硬科技领域的独角兽竞相追逐，企业与深圳将再次共同续写未来有关春天 的故事。 企业迭代，创新不息 "开山第一炮"在蛇口炸响，如同春雷唤醒了南方小渔村，也拉开了 ...

中国汽车工业协会最新数据显示，今年上半年，自主品牌汽车在国内市场的占有率已突破70%，创下历史新高。在全球市场上，中国汽车同样表现抢 眼，"中国制造"占比全球销量已达3成，比亚迪、吉利等品牌首次跻身全球车企前十名。然而，在这份亮丽成绩单的背后，一个关键问题值得深思：当自 主车企在销量上突飞猛进时，我们是否已经拥有了真正意义上的全球车型？即像丰田卡罗拉、大众高尔夫那样，能够经得起全球市场考验、具备长期生命 力的产品？ 01 高配置≠高适应性 翻开全球汽车销量排行榜，一个耐人寻味的现象引人深思：那些真正的全球车型——如丰田卡罗拉、RAV4，本田CR-V，大众高尔夫——往往不以配置丰 富著称。2024年全球单一车型销量冠军特斯拉Model Y，其内饰之"简陋"甚至成为消费者调侃的焦点。这些车型共同的特点在于：核心部件可靠性高、机 械素质过硬、维修便利性佳，而在中国市场上流行的"冰箱彩电大沙发"式的"高大上"配置，在这些车型上难觅踪迹。 "全球车型首先考虑的是普适性，而非配置的堆砌。"某合资品牌全球产品规划负责人指出，"一款车型要销往100多个国家，必须适应从北欧严寒到中东酷 暑的各类环境，必须兼容从德国不限速高速路 ...

Core Insights - Chinese electric vehicle (EV) manufacturers are experiencing unprecedented innovation and competition, leading to significant advancements in the industry [1][3] - The intense domestic competition in China is fostering a survival-of-the-fittest environment, which is beneficial for the growth of companies like BYD and Geely [3] - Chinese EV companies are increasingly investing overseas, with 2022 marking the first year that their foreign investments surpassed domestic investments, totaling approximately $16 billion compared to $15 billion domestically [4] Group 1 - Uber CEO Dara Khosrowshahi praised the Chinese EV industry for its remarkable innovation and competitiveness, attributing its success to fierce local competition [1][3] - Khosrowshahi noted that every major city or province in China aims for the success of its local EV manufacturers, resulting in over 100 automakers competing in a supportive governmental framework [3] - The competitive landscape in China has led to significant advancements in technology, cost, and quality, putting pressure on Western automakers like Tesla and Ford [1][4] Group 2 - In 2022, Chinese EV supply chain companies invested approximately $16 billion overseas, marking a historic shift where foreign investments exceeded domestic ones for the first time since 2014 [4] - Battery manufacturers are leading the charge in international expansion, while EV manufacturers still focus primarily on the domestic market [4] - Prior to this shift, around 80% of investments by Chinese EV companies were concentrated in the domestic market, indicating a significant change in strategy [4]

Core Insights - The CEO of Uber, Dara Khosrowshahi, praised the innovation in China's electric vehicle (EV) industry, highlighting the intense local competition that has driven companies to excel [1][3] - Chinese automakers, such as BYD, are leading the global EV market, putting pressure on American companies like Tesla and Ford, which have acknowledged the superior technology, cost, and quality of Chinese EVs [1][4] - The competitive landscape in China, characterized by over 100 automakers, aligns with government strategies, creating a "survival of the fittest" environment that fosters innovation and rapid industry development [3] Investment Trends - In 2022, Chinese EV supply chain companies invested approximately $16 billion overseas, surpassing domestic investments of $15 billion for the first time since 2014 [4] - This shift marks a historic change, as previously about 80% of investments were concentrated in the domestic market, indicating a growing international focus among Chinese zero-emission vehicle companies [4] - Battery manufacturers are leading the way in international expansion, while EV manufacturers still primarily focus on the domestic market [4]

Core Viewpoint - China's lithium-ion battery exports have shown strong growth in the first seven months of 2025, with a significant increase in both quantity and value, driven primarily by demand in the automotive sector and energy storage solutions [2][12]. Export Performance - From January to July 2025, China exported 2.567 billion lithium-ion batteries, a year-on-year increase of 18.74%, with export value reaching $41.143 billion, up 26.2% [2]. - In July alone, the export value was $7.047 billion, reflecting a year-on-year growth of 31.66% and a month-on-month increase of 6.77% [2]. - The cumulative export of power and other batteries reached 150.5 GWh, marking a 53.1% increase, with power batteries accounting for over 64% of this total [2]. Key Players - Companies such as CATL, BYD, and others like Zhongxin Innovation, Guoxuan High-Tech, and Honeycomb Energy have outperformed the industry average in export growth, contributing significantly to the overall increase [3]. Regional Market Insights - Germany has become the largest export market for Chinese lithium-ion batteries, surpassing the U.S. after May 2025, with exports amounting to $7.753 billion, a 31.71% increase year-on-year [4]. - The recovery of the German electric vehicle market, particularly in July, has been a key driver, with significant increases in PHEV and BEV sales [4]. - The U.S. remains the second-largest market, with exports totaling $7.418 billion, a slight increase of 0.39% year-on-year, despite high tariff barriers [5]. Southeast Asia Dynamics - Vietnam has shown remarkable growth in electric vehicle adoption, particularly in two-wheeled vehicles, with a 99.2% year-on-year increase in electric motorcycle sales, reaching approximately 209,000 units [7]. - VinFast, a local company, has become a significant player in the Vietnamese market, delivering 68,000 electric vehicles by June 2025 [6][7]. Energy Storage Demand - The demand for energy storage solutions has also surged, with significant contracts awarded to Chinese companies in Saudi Arabia, Chile, and Australia [9][10][11]. - In Saudi Arabia, a major project for a 1000MW/4000MWh energy storage system was awarded to a Chinese company, valued at $364 million [9]. Global Market Position - Overall, China's lithium battery exports are transitioning from mere quantity expansion to gaining substantial influence in the global electric vehicle and energy transition markets [12]. - Different markets exhibit unique characteristics, with Europe focusing on deep integration in the automotive supply chain, while Southeast Asia emphasizes two-wheeled electric vehicles and energy storage in the Middle East and Latin America [13].

Core Viewpoint - The article highlights the significant growth in China's new energy vehicle (NEV) market and the corresponding increase in power battery installation capacity, indicating a pivotal year for GWh-level shipments in 2025 [2][3]. Summary by Sections New Energy Vehicle Sales - In the first seven months of 2025, China's NEV sales reached 8.22 million units, a year-on-year increase of 38.5%, with a penetration rate of 45.0%, up by 8.6 percentage points [2]. Power Battery Installation - The power battery installation capacity in China for the same period reached 343.52 GWh, reflecting a year-on-year growth of 40.2% [2]. Battery Enterprises and Clients - A total of 48 power battery companies provided installation for vehicles, a decrease of 3 companies compared to the previous year, primarily serving passenger vehicles [6]. - The top 10 battery enterprises by installation volume include CATL, BYD, and others, with a total installation of 153.46 GWh for the leading companies [7][8]. Market Concentration - The market concentration for the top 10 battery companies (CR10) was 95.3%, a decrease of 1.3 percentage points year-on-year, attributed to the market share gains of emerging companies [8]. Battery Material Types - In terms of battery materials, the installation of ternary batteries was 66.63 GWh, accounting for 19.4%, down by 7.2 percentage points year-on-year, while lithium iron phosphate batteries reached 276.56 GWh, making up 80.5%, an increase of 7.2% [8]. Battery Shapes - The installation of square batteries was 334.29 GWh, representing 97.3% of the total, an increase of 0.5 percentage points year-on-year. Cylindrical batteries accounted for 2.1% and soft-pack batteries for 0.6% [10]. - BMW announced the upcoming use of large cylindrical batteries in its new vehicles, which is expected to boost the market share of cylindrical batteries [10].

Thinking about investing in the EV revolution? BYD isn't just China's biggest EV maker anymore -- it's quietly becoming a global player.BYD (BYDDY 3.63%), once known primarily as a Chinese battery maker, has rapidly transformed into one of the world's largest electric vehicle (EV) companies. In 2024, it overtook Tesla in global EV sales, signaling that this is no longer just a domestic player -- it's a company with global ambitions.So how is BYD building an international footprint? The answer lies in a deli ...

Group 1 - The article highlights the top three companies with the highest AH premium rates as Northeast Electric (00042) at 743.75%, Hongye Futures (03678) at 241.98%, and Andeli Juice (02218) at 236.37% [1] - The bottom three companies with the lowest AH premium rates include Ningde Times (03750) at -16.43%, Heng Rui Medicine (01276) at 1.82%, and Midea Group (00300) at 4.90% [1] - The article provides a detailed table of the top ten and bottom ten AH stocks based on premium rates and deviation values, indicating significant disparities in market valuations between H-shares and A-shares [1][2] Group 2 - The deviation values for the top three companies are Andeli Juice (02218) at 32.29%, Jinli Permanent Magnet (06680) at 22.19%, and Beijing Machinery (00187) at 20.80% [1] - The companies with the lowest deviation values include BYD Company (01211) at -98.36%, Northeast Electric (00042) at -64.84%, and Longpan Technology (02465) at -51.92% [1][2] - The article emphasizes that the deviation value represents the difference between the current premium rate and the average premium rate over the past 30 days, providing insights into market trends [2]

Group 1 - Automotive parts stocks saw significant gains, with Minth Group rising 7.11% to HKD 34.64, Nexperia up 6.16% to HKD 6.89, and Delta Electronics increasing 5.27% to HKD 28.74 [1] - A report from China Merchants Securities highlights a noticeable off-season in the car market for July, attributed to sales overreach in June and temporary subsidy interruptions in some regions. However, a new batch of national subsidies amounting to 68 billion is expected to boost the market towards the end of August [1] - The upcoming World Robot Conference is anticipated to act as a catalyst for the robotics industry and related sectors, with a focus on companies that have significant product deliveries and ongoing order fulfillment [1] Group 2 - According to Minsheng Securities, BYD's entire model lineup will feature advanced driving capabilities, with models priced around 200,000 expected to be a major growth area for advanced driving technology. The year 2025 is projected to be a turning point for equal access to intelligent driving [1] - Tesla's Full Self-Driving (FSD) has surpassed 3 billion miles in cumulative mileage, with version 13 achieving parking-to-parking functionality. The rapid growth of Tesla's AI computing power is providing strong support for model training [1] - There is optimism regarding the growth potential in the intelligent driving domain, cockpit domain control, and steer-by-wire chassis sectors [1]

Core Insights - The Chinese power battery industry is experiencing significant growth in exports, with a total export volume of 23.2 GWh in July, marking a year-on-year increase of 35.4% and accounting for 18.3% of total sales for the month [2] - Major companies like CATL, BYD, and others are expanding their overseas production capacity, indicating a strategic move towards international markets [2][4] Export Growth and Competitive Landscape - In the first seven months of 2025, China's cumulative power battery exports reached 96.4 GWh, a year-on-year increase of 29.4%, with July alone seeing exports of 14.8 GWh, up 48.4% year-on-year [3] - The export volume of ternary lithium batteries in July was 8.4 GWh, showing a year-on-year growth of 32.9%, while lithium iron phosphate batteries saw a 76.1% increase to 6.2 GWh [3] - Companies like Ruipu Lanjun and Honeycomb Energy have reported exceptional growth rates, with exports increasing by 144.5% and 159.8% respectively [4] Leading Companies and Their Strategies - CATL ranked third in overseas market battery installation with a volume of 16.2 GWh and a market share of 18% [5] - CATL plans to invest up to €7.34 billion in a new battery production facility in Hungary, aiming for an annual capacity of 100 GWh [5] - Other companies like EVE Energy are also establishing production bases overseas, including in Hungary and Malaysia, to enhance their global footprint [5] Industry Trends and Market Dynamics - The overseas revenue of CATL surged from 7.9 billion yuan in 2020 to 110.3 billion yuan in 2024, indicating a growing reliance on international markets [7] - The global demand for power batteries is on the rise, driven by the increasing penetration of electric vehicles in markets like Europe and Southeast Asia [10] - Local policies in regions like Europe are encouraging domestic production, providing opportunities for Chinese companies to leverage their technological advantages [10] Future Outlook and Challenges - The international market is viewed as the next battleground for the Chinese power battery industry, with expectations of maintaining competitive advantages in technology and cost [11] - However, challenges such as local policy barriers, competition from international firms, and geopolitical factors may impact the growth trajectory [11]