Core Insights - Chery Automobile and Huawei have signed a strategic cooperation agreement for the Zhijie brand 2.0, committing over 10 billion yuan and expanding the R&D team to 5,000 people to enhance technological leadership [1][4] - Zhijie has established an independent operation for its new energy company, focusing on integrated production and sales, and plans to launch multiple new high-end models [1][3] Group 1 - The cooperation between Zhijie and Huawei is described as deeper compared to other partnerships, with R&D centers located in Shenzhen and Shanghai to facilitate efficient communication [3] - Zhijie's team currently has nearly 2,000 members, with expectations to reach 5,000 by the end of the year, and the supplier system is aligned with Huawei's standards [3][4] - Zhijie is establishing a separate sales network, with new stores set to open by the end of August, adopting a dual branding strategy with Hongmeng Zhixing [3] Group 2 - The Zhijie project was initiated in 2022 under the internal code "EH Division," led by Chery's CTO, with significant investment and collaboration with Huawei's team [4][5] - In Q1 2024, the EH Division will be upgraded to an independent division responsible for the full management of the Zhijie brand, while Huawei will continue to provide technical support [4] - Currently, Zhijie has two models, the S7 and R7, both experiencing declining sales, with S7's monthly sales dropping from 1,833 units to 600 units and R7 from 15,903 units to around 3,000 units [6][7]

Core Viewpoint - The article discusses the recent developments of Zhijie Automobile, focusing on its transition to an independent brand and the challenges it faces in improving sales performance [2][3][10]. Group 1: Company Independence and Structure - Zhijie Automobile officially announced its transition to the 2.0 phase, planning to invest over 10 billion yuan and expand its R&D team to 5,000 members to enhance technology [3]. - The establishment of Anhui Zhijie New Energy Automobile Co., Ltd. marks Zhijie's upgrade to an independent company, fully controlled by Chery Automobile [5]. - The brand aims to cover all aspects of R&D, manufacturing, and user services, with Huawei leading the operational system and Chery prioritizing Zhijie as a strategic project [4][5]. Group 2: Sales Performance and Challenges - Despite the launch of Zhijie S7 and R7 models, sales have been disappointing, with S7's monthly sales dropping from over 5,000 to around 2,000 vehicles [8]. - The R7 model initially boosted brand visibility, achieving over 10,000 units sold in January, but its sales fell to 5,124 units by May [8]. - To improve sales, Zhijie is establishing independent sales channels and plans to open dedicated stores, while Huawei stores will also sell some Zhijie models [9]. Group 3: Future Prospects and Product Development - Zhijie is set to launch updated versions of the R7 and S7 models, featuring advanced technologies such as 192-line laser radar and Huawei's ADS 4.0 driving assistance system [10]. - The brand's ability to leverage Huawei's technology and brand strength will be crucial for its growth trajectory as an independent entity [10].

Core Viewpoint - Chery has initiated a series of internal reforms aimed at reducing meeting frequency and enhancing efficiency, with a target to cut company-level meetings and participants by 30% each [1][3]. Group 1: Meeting Efficiency - Chery's Chairman, Yin Tongyue, acknowledged past shortcomings in meeting management and apologized for the lack of consideration for employees [1]. - The company has mandated that no meetings be held on weekends to allow employees living away from home to return [3]. - Leaders are encouraged to spend more time on-site rather than in meetings, with a focus on holding shorter and smaller meetings [3]. Group 2: Personnel Efficiency - An internal document reportedly outlines a strategy for improving personnel efficiency, emphasizing a "345" approach where three people are expected to perform the work of five while receiving salaries for four [3]. - The human resources department is tasked with implementing specific actions to address overtime issues as part of the overall efficiency improvement strategy [3].

Core Viewpoint - The article discusses the competitive landscape of the automotive industry, focusing on the development of MPVs by companies like Zhijie and Chery, highlighting the strategic decisions and market dynamics involved in this segment [3][4][14]. Group 1: Development of MPVs - Zhijie is developing its first MPV, the EHV, based on the E0X-L platform, with plans for a launch in the first half of next year [3][4]. - Chery's original luxury MPV, the Xingjiyuan E08, has been halted in development, with some team members moving to Zhijie to strengthen its MPV project [3][4]. - The decision to let Zhijie debut the luxury MPV reflects Chery's strategy to reduce resource redundancy and focus on high-end electric vehicles [4][9]. Group 2: Market Positioning and Competition - The Xingjiyuan series, launched in July 2023, aims at the high-end market with prices ranging from 172,800 to 319,800 yuan, while Zhijie targets a similar demographic but with a higher price point for its models [3][4][14]. - The competition between Zhijie and Xingjiyuan is evident, as both brands target the same consumer base, but Zhijie is positioned to better support the luxury MPV segment [4][14]. Group 3: Sales Performance and Challenges - Zhijie has sold 64,300 units in the past seven months, outperforming Xingjiyuan's 44,200 units, indicating a stronger market presence [14]. - Despite initial success, Zhijie faces production challenges, with delays in the delivery of the Zhijie S7 model leading to customer dissatisfaction [6][19]. - The need for Zhijie to improve its delivery capabilities is critical, as it aims to capitalize on the growing MPV market, which saw a 53.3% year-on-year increase in sales in June [11][19]. Group 4: Strategic Partnerships - The collaboration between Chery and Huawei has been pivotal for Zhijie, with Huawei's technology and market insights playing a significant role in the development of its vehicles [6][19]. - Chery's restructuring into "new four major" divisions aims to enhance brand competitiveness and streamline operations, particularly in the context of its partnership with Huawei [4][6].

Core Viewpoint - The competition for the first MPV under the Hongmeng Intelligent Driving brand is intensifying, with Zhijie potentially gaining an advantage as it develops its MPV based on the E0X-L platform, expected to launch in the first half of next year [1][3]. Company Developments - Zhijie is developing an MPV named "EHV," which will offer both pure electric and extended-range powertrains, with batteries supplied by CATL [1]. - Chery's first luxury MPV, the Star Era E08, has reportedly halted development, with some team members transferring to Zhijie to bolster its MPV development efforts [1][3]. - Chery has initiated a brand integration strategy, forming "New Four Major" divisions to optimize resource allocation and enhance brand competitiveness [2]. Market Positioning - Zhijie and Star Era are positioned similarly in the high-end new energy market, but Zhijie is seen as better suited to support luxury MPV models [2]. - The pricing strategy for the Star Era series has been adjusted, with the starting price dropping to 19.88 million yuan, making it 5.1 million yuan cheaper than Zhijie S7 [4]. Sales Performance - Zhijie S7 has received over 20,000 pre-orders since its launch, but production issues have led to delays, causing dissatisfaction among customers [4][5]. - In the first half of the year, Zhijie sold 64,300 units, surpassing Star Era's 44,200 units, indicating a stronger market performance [10]. Production Capacity - Chery's new "Intelligent Connected Super Factory" is set to produce Zhijie S7, but initial production challenges have led to a temporary shift to another facility [4][5]. - Zhijie has established an independent factory, which is expected to alleviate resource allocation issues with other Chery brands [13]. Future Outlook - The MPV market is growing, with a 53.3% year-on-year increase in sales for new energy MPVs in June, indicating a favorable environment for Zhijie's upcoming launch [7]. - If Zhijie's EHV MPV launches successfully, it could become a significant growth point for the brand, especially as it aims to compete in a market where many manufacturers are pivoting towards MPVs [15].

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: | 2025年7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: | 澳洲成峰高教集團有限公司 | | | | 呈交日期: | 2025年8月1日 | | | | I. 法定/註冊股本變動 不適用 | | | | | 備註： | | | | | 根據《澳洲公司法》，註冊公司概無設定法定股本，且並無就有關已發行股份採用「面值」的概念。 | | | | FF301 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01752 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | ...

Core Insights - The launch of the Fengyun A9L in Hangzhou marks a significant step for the company, with a price range of 139,900 to 197,900 yuan for its four variants [2] Group 1: Product Development - The company invested over 10 billion yuan over six years to develop the Fengyun A9L, aiming to achieve a driving experience comparable to luxury brands [2] - The A9L is built on a global high-performance luxury electric hybrid platform, featuring a four-wheel drive version with a maximum power of 470 kW and a maximum torque of 854 N.m [2] - The vehicle can accelerate from 0 to 100 km/h in under 4 seconds, showcasing its high performance [2] Group 2: Battery and Charging Technology - The Fengyun A9L has a measured pure electric range of 260 km and a combined range that can challenge 2,500 km [2] - Charging from 30% to 80% takes only 14.5 minutes, highlighting the efficiency of its battery technology [2] Group 3: Advanced Technology Features - The AI magnetic suspension digital chassis consists of a front double wishbone and rear high-end five-link setup, combined with the Bosch IPB 2.0 intelligent dual-control system [2] - This technology enables a smooth driving experience, minimizing body roll and enhancing stability during various driving conditions [2] - The Falcon Intelligent Driving Assistance System, developed in collaboration with Momenta, provides a safe and reliable smart driving experience across different scenarios [2]

Core Viewpoint - The launch of Chery's new fuel performance vehicle, the Arrizo 8 PRO 2.0T, marks a significant moment for traditional fuel cars as they attempt to regain market presence amidst the rise of electric vehicles [2][3] Market Dynamics - Fuel performance vehicles are facing strong competition from electric vehicles, yet there remains a dedicated consumer interest in this segment [3][4] - The market share of fuel vehicles has been declining, with only a few domestic brands like Chery, Geely, and Great Wall continuing to develop both fuel and electric vehicles [3][4] - The fuel performance vehicle segment is relatively scarce, and the introduction of new models like the Arrizo 8 PRO 2.0T could fill a market gap [3][8] Consumer Preferences - A significant portion of fuel performance vehicle consumers are aged between 25 and 35, indicating a strong youthful demographic that values the unique advantages of these vehicles [7] - Fuel performance vehicles are appreciated for their high-power engines, rapid acceleration, and superior handling, which resonate well with younger consumers [7][9] Technological Advancements - Recent advancements in engine, transmission, and chassis technologies have led to improved fuel performance vehicles that emphasize energy efficiency and overall performance [5][12] - The integration of smart cockpit and driving technologies enhances the driving experience, making these vehicles more appealing to consumers [5] Competitive Strategy - To succeed in the current market, fuel performance vehicles must differentiate themselves from electric vehicles by highlighting their unique driving experiences and mechanical feedback [4][12] - Companies are focusing on customization and personalization to meet consumer demands, which can enhance the appeal of fuel performance vehicles [11][12] Future Outlook - The market for fuel performance vehicles is expected to maintain a share of around 30% in the future, alongside electric vehicles at 40% and hybrid vehicles at 30% [8] - Innovations in automotive technology, such as lightweight materials and advanced manufacturing processes, are anticipated to further enhance the performance of fuel performance vehicles [8][12] Cultural and Emotional Value - Fuel performance vehicles are increasingly seen as cultural artifacts, with brands leveraging their heritage and storytelling to create emotional connections with consumers [11][12] - The potential for limited edition models and customized modifications can elevate the perceived value and exclusivity of fuel performance vehicles [12]

Core Viewpoint - The article discusses the challenges faced by the Zhijie brand, a collaboration between Huawei and Chery, highlighting its initial success followed by significant delivery issues and declining sales, leading to dissatisfaction among users and internal competition with other brands [2][3][4][6][11]. Group 1: Brand Performance and Sales - Zhijie launched its first model, the Zhijie S7, in November 2023, which received over 5,000 pre-orders on launch day and more than 20,000 within a month, targeting the young elite market priced between 250,000 to 350,000 yuan [3][4]. - However, the delivery timeline extended from the planned 4-6 weeks to over 12 weeks due to chip shortages and factory relocation, leading to quality control issues and order cancellations [3][4]. - Sales peaked at 7,397 units in October 2024 but dropped significantly to 565 and 491 units in May and June 2025, respectively, with overall sales for June reported at 2,459 units [4][6]. Group 2: Internal Competition and Brand Strategy - Zhijie faces internal competition from other brands under the Huawei and Chery umbrella, such as Wanjie and Xingtu, which complicates its market positioning [6][8]. - The brand's identity is muddled by similarities in appearance, technology, and pricing with other Chery brands, leading to confusion among consumers and sales personnel [7][8]. - Chery's decision to promote its main brand over Zhijie during a live stream event for the Fengyun A9L model has further alienated Zhijie users, who feel neglected [7][8]. Group 3: Strategic Changes and Future Outlook - In early 2025, Zhijie became an independent entity under Chery, allowing for more autonomous financial and marketing decisions, which is seen as a self-rescue attempt [9][10]. - Chery plans to establish a dedicated sales company for Zhijie to enhance its market presence and resolve issues related to being overshadowed by other brands [10]. - The introduction of a new logo and branding strategy aims to differentiate Zhijie from its competitors and improve its market appeal [10].

Core Viewpoint - The launch of the Chery Fengyun A9L has created a significant market impact, achieving over 50,000 orders within 24 hours, marking it as a phenomenon in the 2025 automotive market [3]. Group 1: Market Response - The Fengyun A9L has set a new sales record for luxury cars from Chinese brands and has generated a surge in customer interest, with showrooms experiencing high foot traffic and test drive appointments being oversubscribed [3]. - The vehicle's launch has led to a situation in some cities where demand exceeds supply, resulting in a "hard-to-get" scenario for potential buyers [3]. Group 2: Reasons for Success - The success of the Fengyun A9L can be attributed to three main factors: a disruptive pricing strategy, superior product capabilities, and a user-driven co-creation approach [5]. - The pricing strategy of 139,900 yuan has shattered the price ceiling for C-class luxury cars, altering consumer perceptions of luxury vehicle pricing [6]. - The product offers a unique combination of features, including B-class pricing, C-class dimensions, and D-class experiences, redefining the value standards in the luxury car market [6]. - The vehicle was developed with input from over 500,000 users, incorporating 1,278 suggestions, which has significantly enhanced its market acceptance [6]. Group 3: Strategic Evolution - The Fengyun brand represents Chery's commitment to producing high-quality vehicles for the public, evolving from its origins in 1999 to a modern player in the high-end automotive market [8][9]. - The brand has undergone a strategic transformation, with plans to launch 16 new models over the next three years, covering various vehicle types and powertrains [15]. Group 4: Product Features - The Fengyun A9L boasts unique features such as a C-class space dimension, a pure electric range of 260 km, and advanced suspension systems that enhance driving performance and comfort [18][19][21]. - The vehicle's design incorporates high-strength materials and advanced safety features, including nine airbags and a robust body structure, ensuring a high level of safety [21][26]. - The audio system and AI capabilities of the Fengyun A9L are designed to provide a premium user experience, showcasing the integration of advanced technology [29]. Group 5: Competitive Advantage - Chery has developed a unique "explosive product manufacturing" system, leveraging partnerships with leading technology firms and its extensive manufacturing experience to create competitive products like the Fengyun A9L [30][31]. - The combination of cutting-edge technology, user-centric design, and robust manufacturing capabilities has positioned the Fengyun A9L as a strong competitor in the luxury car market [31].