Core Viewpoint - Li Auto announced a unified configuration adjustment for the Li Auto i8, lowering the price of the i8 Max version from 349,800 yuan to 339,800 yuan, while offering additional features such as a 10,000 yuan platinum sound system and an optional rear entertainment screen package priced at 10,000 yuan [1][15]. Pricing and Configuration - The Li Auto i8 was launched on July 29, with a price range of 321,800 to 369,800 yuan, and three models available [15]. - The i8 Max version now serves as the standard configuration, with the previous Ultra version's features available at a reduced price [15]. - The i8 features a CLTC range of 720 kilometers, dual motor all-wheel drive, and advanced driver assistance systems [6][7]. Market Response and Sales Expectations - Approximately 98% of pre-order customers chose the Max and Ultra versions, indicating a preference for higher-end configurations [15]. - Market analysts from CICC believe that the i8 is a high-end "slow-moving" product, with the i6 model expected to drive higher sales volumes when released in September [16]. - Estimated monthly sales for the i8 are projected to be between 3,000 and 5,000 units, primarily to validate the pure electric product line [16]. Stock Market Reaction - Following the announcement of the configuration adjustments, Li Auto's stock price in Hong Kong rose by 2.87%, reaching 104.1 HKD per share [16].

Core Insights - The company has received significant attention for the launch of the Li Auto i8, with over 98% of users opting for the Max and Ultra models, indicating a strong preference for high-end configurations [1] - In response to customer feedback regarding the complexity of model versions and the desire for additional features, the company has decided to standardize the configuration by making the i8 Max the standard model and reducing its price from 349,800 yuan to 339,800 yuan, while also offering additional features [1] Pricing and Models - The pricing for the Li Auto i8 models is as follows: - Li Auto i8 Pro: 321,800 yuan [4] - Li Auto i8 Max: 339,800 yuan [4] - Li Auto i8 Ultra: 369,800 yuan [4] - The new standard price for the i8 is set at 339,800 yuan, which includes a complimentary platinum sound system valued at 10,000 yuan [1][5] Features and Specifications - The i8 Max comes with a CLTC range of 720 kilometers, dual motor all-wheel drive, and advanced air suspension [6] - Standard features include a high-end driver assistance system (AD Max), a smart refrigerator, and a premium sound system [7][11] - Optional features include a rear entertainment screen package for an additional 10,000 yuan [8] Customer Engagement - The company expresses gratitude for customer trust and feedback, indicating a commitment to improving user experience by addressing concerns about model complexity and feature availability [1]

据理想汽车消息，理想i8自上市以来受到用户广泛关注，超过98%的用户选择了Max和Ultra车型。为简 化版本选择，理想汽车决定统一配置版本，将理想i8Max作为标准配置，售价从34.98万元调整为33.98 万元，并赠送价值1万的铂金音响。同时提供后舱娱乐屏套装选装，价格为1万。选择Ultra版本的用户 可用34.98万元实现全部配置，选择Pro版本的用户将享受专属退订或升级服务。 ...

Group 1 - The core point of the article highlights the adjustments made by Li Auto regarding the pricing and configuration of the Li Auto i8 model, aiming to simplify choices for consumers and enhance the appeal of high-end features [1][3] - Approximately 98% of pre-order consumers opted for the Max and Ultra versions of the i8, indicating a strong preference for high-end configurations, while the Pro version saw minimal interest [1] - Li Auto i8 was launched on July 29, with a price range of 321,800 to 369,800 yuan, and the pricing strategy aligns with market expectations, particularly regarding the oil-electric pricing parity [1][2] Group 2 - The company anticipates that the i8 will be a "slow-burn" high-end product, with the i6 model expected to drive significant sales volume once released in September [2] - Monthly sales estimates for the i8 are projected to be between 3,000 to 5,000 units, primarily serving as a validation for the pure electric product line [2] - Following the announcement of the configuration adjustments, Li Auto's stock price on the Hong Kong market increased by 2.87%, reaching 104.1 HKD per share [4]

人民财讯8月5日电，据理想汽车官微消息，理想汽车决定统一配置版本——以理想i8 Max作为标准配 置，并将售价从34.98万元调整为33.98万元，同时额外赠送价值10000元的铂金音响，并提供后舱娱乐屏 套装作为选装，价格10000元。 ...

新浪科技讯 8月5日中午消息，理想汽车官方公告——理想i8配置统一版本，标配即顶配，并将售价统 一为33.98万元。 公告称，理想i8自上市以来获得用户广泛关注，出乎我们预料的是，有超过98%的用户选择了理想i8 Max和Ultra车型，这远超我们的预期。我们深切地感受到广大用户对理想i8高端配置的喜爱，但大家吐 槽最多的是车型版本略显复杂，难以选择，一些高端配置的选装还不被支持，尤其希望冰箱作为标配， 增加二排屏的选装。 感谢广大用户对理想汽车的喜爱和信赖，我们听劝，立即响应。理想汽车决定统一配置版本——以理想 i8 Max作为标准配置，并将售价从34.98万元调整为33.98万元，同时额外赠送价值10，000元的铂金音 响，并提供后舱娱乐屏套装作为选装，价格10，000元；原以36.98万元选择Ultra版本的用户，只需要 34.98万元的价格即可实现原选择的全部配置；原选择Pro版本的用户，我们将为您的退订或升级，提供 专属服务。 责任编辑：赵思远 ...

Core Insights - Li Auto has announced a unified version of the Li Auto i8, standardizing the configuration to the i8 Max model, which has been well-received by users, with over 98% opting for the Max and Ultra versions [2][8] - The price of the i8 Max has been adjusted from 349,800 yuan to 339,800 yuan, and customers will receive a complimentary platinum sound system valued at 10,000 yuan [2][4] - The company is responding to user feedback regarding the complexity of model versions and is offering options for users who initially chose the Pro version [2][8] Pricing and Configuration Changes - The i8 Max is now priced at 339,800 yuan, with an additional optional rear entertainment screen package available for 10,000 yuan [4][5] - Users who originally selected the Ultra version can now access all configurations for a reduced price of 349,800 yuan [2][5] - The Pro version has seen low order ratios, prompting the company to consider merging the three versions into a single, more competitive model [8] Product Features - The i8 includes a 97.8 kWh lithium-ion battery with a CLTC range of 720 kilometers, dual motor intelligent all-wheel drive, and a 0-100 km/h acceleration time of 4.5 seconds [5] - Standard features also include a dual-chamber air suspension, fully electric and heated seats with ventilation and massage functions, and a 20-speaker platinum sound system [5][6] - The vehicle is equipped with a high-performance Qualcomm Snapdragon 8295P chip and a 21.4-inch rear entertainment screen [6]

Core Viewpoint - The company is adjusting the configuration and pricing strategy of the newly launched i8 model, moving towards a single configuration approach similar to the earlier model, the理想 ONE, to better meet consumer expectations and enhance perceived value [3][7]. Configuration and Pricing Strategy - The i8 was initially launched with three versions: Pro, Max, and Ultra, priced between 321,800 and 369,800 yuan. However, the configuration did not meet user expectations, leading to a decision to simplify to a single configuration with optional features, including a standard car refrigerator [3][5]. - The starting price of the i8 will be lowered to below 350,000 yuan after the adjustment [3]. User Demographics and Market Positioning - The target users for the i8 are primarily existing electric vehicle owners, whose expectations differ significantly from those of traditional fuel vehicle users. This demographic prefers core features to be standard and desires more customization options [6]. - The previous configuration strategy aligned with the L8 model, which catered to a different user base that was more familiar with traditional multi-version configurations [5][6]. Market Strategy Reflection - The CEO of the company reflected on past mistakes in market strategy, indicating that the i8's launch should have been approached with a more pragmatic mindset, acknowledging the complexities of the electric vehicle market [6]. - The return to a single configuration strategy for the i8 is seen as a move to rebuild consumer trust and clarity regarding the product's value, similar to the successful approach taken with the理想 ONE during its initial market entry [7].

Summary of Key Points from Conference Call Industry Overview - The smart automotive industry is expected to evolve through three stages: 1. Electrification penetration until 2027 2. Widespread adoption of autonomous driving from 2027 to 2030 3. Global leap of Chinese brands post-2030 [1][3] Core Insights and Arguments - The business model will shift from hardware-centric to software-centric [1][3] - Key competitive factors in autonomous driving technology include computing power, algorithms, data, funding, and talent innovation [1][4] - By 2027-2028, robotaxi services are anticipated to become commonplace, marking a significant branch of the global AI technology revolution [1][6] - The automotive industry is transitioning from 1.0 (mechanical) to 2.0 (system experience) and finally to 3.0 (separation of hardware and software) [1][8] Changes in Vehicle Framework - The vehicle framework changes with technological advancements: - Traditional vehicles focus on engines - Electric vehicles focus on the three electric systems - Smart vehicles focus on algorithms and data [1][10] - Each stage has its leaders and followers, with demand creators and satisfiers [1][10] Future Company Types - The future automotive landscape may consist of three types of companies: 1. Autonomous vehicle operation companies (internet framework) 2. High-end consumer market companies (consumer goods attributes) 3. Traditional manufacturers (manufacturing framework) [1][14] Robotaxi Business Model - Key factors for the robotaxi business model include algorithm providers, hardware cost control, platform traffic aggregation, and user operation capabilities [2][15] - The electric vehicle consumer goods framework remains effective but may have limited application [2][17] Impact of Smart Technology - Smart technology will further enhance electrification and disrupt the traditional fuel vehicle market [1][13] - The core competitive factors will shift from the three electric systems to computing power, algorithms, and data [1][13] Industry Role Classification - Companies can be classified into four roles based on their innovation contributions: 1. Technology leaders 2. Demand creators 3. Technology followers 4. Demand satisfiers [1][11] Huawei's Role - Huawei collaborates with joint ventures and state-owned enterprises in the electric vehicle sector, positioning itself as a technology follower in battery technology [1][12] Recommendations for Future Development - Companies are advised to change their mindset and focus on iterative framework development, as past strategies may no longer be applicable [1][19]

水泥(大部份已反映)：中国建材 医疗(大部份已反映)：三生制药、威高股份 保险(部份已反映)：中国平安、太保 猪肉(部份已反映)：牧原股份、温氏股份 太阳能供应链(轻微反映)：协鑫科技、通威股份、隆基绿能 餐饮外卖(轻微反映)：阿里巴巴 锂(轻微反映)：盐湖股份 化工(未反映)：华鲁恒升、恒力石化 汽车(未反映)：比亚迪、理想汽车、长城汽车 格隆汇8月5日｜瑞银发表报告，列出潜在受惠"反内卷"政策的板块和首选股名单，并关注相关板块股价 是否已反映相关因素。 ...