近期，汽车制造厂商陆续披露9月销售数据。新华财经和面包财经研究员以A、H股上市的主要汽车厂商披露的月度销售数据公告，分别统计其整车、新能源 汽车的销量。 根据公告数据整理，A、H股上市公司中有20家汽车制造厂商披露了9月份的月度销售数据。2025年9月，20家公司合计销售整车218.62万辆，同比上升 15.28%。 相比8月的同比增速，北汽蓝谷、中通客车、江铃汽车等企业9月销量增速明显加快，曙光股份、小鹏汽车、东风集团、福田汽车等企业的9月增速有所放 缓。 有16家公司披露了新能源汽车（包括乘用车、商用车）的销量数据，9月合计销售新能源汽车约119.24万辆，同比上升21.9%，当月新能源汽车渗透率约达 55.69%。其中，比亚迪、上汽集团、吉利汽车的销量居前，千里科技、曙光股份、小鹏汽车增速超过90%，理想汽车销量同比下滑36.79%。 整车月销218.62万辆上汽集团、比亚迪、吉利汽车销量居前三 东风集团的9月整车销量合计17.82万辆，同比增长6.11%，增速较8月增速下降23.24个百分点。年初至9月末，公司整车合计销售131.68万辆，同比下降 3.62%；新能源汽车销量达36.19万辆，同比上涨 ...

撰文 | 丁 晶 晶 编辑 | 黄 大 路 设计 | 甄 尤 美 加入轩辕同学 ， 成就新汽车人! 2025年10月25日，苏州，第十届中国汽车零部件年度贡献奖——铃轩奖线下终审会成功举行。 来自中国一汽、东风汽车、长安汽车、上汽集团、北汽集团、广汽集团、吉利、奇瑞、江淮、蔚来、小鹏、理想、零跑、赛力斯、一汽-大众、一汽丰 田、上汽通用、东风日产、广汽本田等29位国内主流整车企业一线采购、研发骨干作为铃轩奖评委代表，齐聚一堂。 << 滑动查看下一张图片 >> << 滑动查看下一张图片 >> 经过为期3个月的申报和初审，第十届铃轩奖量产类和前瞻类各有十大类共101家企业的127个案例进入终审。 在铃轩奖评审团主席、世界新汽车技术合作生态协会理事长、轩辕同学校长贾可博士主持下，评审团从技术先进性、适应性、可靠性等核心维度，对入 围案例进行分组讨论后进行投票，最终评选出了各个类别金奖获得者，以及每个类别中投票最高案例进入全场大奖候选名单。 这场兼具专业性与创新性的评审，既是对过去一年汽车零部件产业创新成果的系统复盘，也更清晰折射出中国汽车供应链在电动化、智能化浪潮中的进 化方向。 终审会之后，第十届铃轩奖颁奖盛典将 ...

小米汽车与理想汽车相继发生起火事件，引发市场广泛关注。这两起事故中均出现了一些超出常规认知 的现象：小米汽车成都起火事故中，车门无法打开，市场普遍将原因指向了其半隐藏式门把手缺乏有效 机械冗余；理想MEGA在行驶途中突然起火，让高价位纯电车型的安全性问题被推至风口浪尖。 产业链企业的某些做法有待纠偏。例如，隐藏式门把手的设计，不能为追求"美学"而牺牲应急开启的可 靠性；在不能承诺"零自燃"的情况下，有必要通过多重防护机制为电池系统构建更严密的安全防线。 技术进步绝不能以牺牲安全为代价。自动驾驶、智能座舱等创新功能的实现，必须建立在扎实的安全冗 余基础之上，而非以营销话术掩盖潜在的设计缺陷。同时，国家标准的升级与企业责任的强化必须同步 进行，让安全冗余既有"合规项"下的硬约束，又有"竞争项"下的软驱动。 （文章来源：证券时报） 在智能汽车行业竞相追逐算力、续航与智能化的今天，这些事故向全行业提出了一个不容回避的命题： 安全冗余绝非"锦上添花"的技术选项，而是必须守住的"生存底线"。 安全冗余源于工程学与应急管理领域，指的是对关键部件或功能进行多重备份，以在单一系统失效时提 供备用方案，从而提升系统的整体安全性与 ...

距新能源汽车购置税开始减半征收仅剩两个月，车企陆续推出优惠方案抢订单。深蓝汽车近日推出"跨 年交付购置税现金补贴方案"，同时近期蔚来、小米、理想、极氪等车企均推出了相关政策，为今年锁 单消费者兜底购置税。而车企"自掏腰包"兜底的背后，是车市正处于年底放量期，在长交付周期与市场 增量下，车企开始利用新能源购置税调整"窗口期"促销量。 "自掏腰包"稳局 相比深蓝汽车，蔚来早在9月20日全新ES8上市时就已推出类似兜底方案。蔚来方面表示，为避免因跨 年交付给用户带来购置税优惠减少的情况，蔚来特别推出安心"锁单"方案：今年12月31日（含）前完成 锁单蔚来全新ES8的订单，每单可获得1张购置税差额补贴券。如因蔚来原因，今年完成锁单的订单需 在2026年开票交付，则消费者可使用购置税差额补贴券抵减车价（至高可抵扣1.5万元）。 据北京商报记者不完全统计，除深蓝汽车、蔚来外，小米、理想、极氪等车企均推出相关方案。其中， 理想与极氪的补贴方案均是针对新推出车型。理想相关人士表示，将通过尾款现金减免的形式进行补 贴，根据购车配置抵减相应购置税差额，以确保消费者无需承担额外的购置税支出。 车企"整齐划一"的动作，源于2023年 ...

汽车和汽车零部件行业周报 20251026 Optimus 将于 2026Q1 发布 看好 T 链核心主线 2025 年 10 月 26 日 ➢ 周度数据：2025 年 9 月第 4 周（9.22-9.28）（当前可披露的最新数据）乘 用车销量 65.3 万辆，同比+1.5%，环比+26.6%；新能源乘用车销量 37.1 万辆， 同比+13.8%，环比+23.6%；新能源渗透率 56.9%，环比-1.4pct。 ➢ 本周行情：汽车板块本周表现弱于市场。本周（10 月 20 日-10 月 26 日） A 股汽车板块下跌 0.6%，在申万子行业中排名第 26 位，表现弱于沪深 300 （+1.7%）。细分板块中，汽车服务、商用载客车、汽车零部件上涨 1.3%、1.1%、 0.3%，商用载货车、摩托车及其他、乘用车分别-1.7%、-2.0%、-2.1%。 ➢ 本周观点：本月建议关注核心组合【吉利汽车、小鹏汽车、理想汽车、比亚 迪、小米集团、伯特利、拓普集团、新泉股份、沪光股份、春风动力】。 ➢ Optimus 预计于 2026 年一季度发布 看好 T 链核心主线。本周，特斯拉在 三季度财报电话会上宣布，第三代 Op ...

Core Viewpoint - The article discusses the evolution of collaboration between departments within the company, emphasizing the transition from isolated data handling to a shared data language and co-creation, ultimately leading to a more efficient and integrated approach to problem-solving and product development [4][5][10]. Group 1: Challenges of Departmental Silos - Departmental silos create barriers that hinder effective communication and collaboration, leading to conflicts in objectives and a lack of a unified approach to problem-solving [3]. - The division of responsibilities among departments, while enhancing specialization, results in a fragmented view of issues, making it difficult to establish a cross-departmental mechanism for addressing problems [3]. Group 2: Initial Collaboration and Data Sharing - The initial collaboration between the Ideal Lianshan team and the thermal management team began with addressing poor cloud signal data quality, leading to the development of a common analytical framework [4]. - The shift from a "data request-result" model to a shared data language allowed both teams to engage in meaningful dialogue using the same data and metrics [4][5]. Group 3: Evolution of Collaborative Methods - The collaboration evolved from merely sharing data to co-creating solutions, focusing on common goals and fostering trust through transparency [5][6]. - The implementation of automated testing processes helped alleviate the burdens faced by engineers during extreme conditions, showcasing the practical benefits of this collaborative approach [5]. Group 4: Productization of Collaboration - Over three years, the company expanded its collaborative model to include supply chain and production line processes, developing AI-driven solutions to intercept quality issues at the source [9]. - The establishment of a standardized, replicable methodology for data science projects has transformed the collaboration into a sustainable and scalable productized approach [10]. Group 5: Achievements and Future Aspirations - The company has accumulated significant achievements, including 83 data science projects, 3545 warning models, and extensive monitoring capabilities across production lines and suppliers [10]. - The goal is to promote this collaborative model further, enabling seamless cooperation among individuals, AI, and across departments to address real business challenges [11].

智通财经2025-10-24 13:06:13 智通财经记者 吴遇利 10月24日，理想汽车方面针对上海理想MEGA起火事故回应智通财经称，"事故发生时，车门顺利打 开，驾驶员和全体乘客全部安全离车。我们安排了专人前往现场处理，目前消防部门也已介入，我们会 积极配合消防部门的调查，并依据调查结果开展后续工作。" 网络流传的视频显示，10月23日深夜，上海市徐汇区一辆理想MEGA在行驶中突然起火，火势在数十秒 内迅速扩大，车内两名驾乘人员停车后顺利开门逃生，但最终车辆被烧成空架。 本 期 编 辑 邢潭 ...

Core Insights - The article provides a comprehensive update on the automotive industry for September 2025, highlighting significant sales growth and trends in various segments of the market [3][12]. Overall Automotive Industry - In September 2025, total automotive sales reached 2.857 million units, representing a year-on-year increase of 16.4% and a month-on-month increase of 10.1%. Cumulatively, from January to September 2025, sales totaled 21.128 million units, up 12.6% year-on-year [3][21]. - Passenger vehicle sales in September were 2.859 million units, up 13.2% year-on-year and 12.5% month-on-month, while commercial vehicle sales were 368,000 units, showing a year-on-year increase of 29.6% [3][21]. - The inventory coefficient for automotive dealers slightly increased to 1.35 in September from 1.31 in August, with variations among different brand categories [3][21]. Sales Structure - Market share by vehicle type in September 2025 was as follows: domestic brands 70.1%, European brands 12.8%, Japanese brands 9.5%, American brands 6.2%, and Korean brands 1.4% [4]. - By vehicle classification, the market shares were: A00 4.1%, A0 12.5%, A 36.0%, B 30.5%, C 13.8%, and D 1.8% [5]. - In terms of pricing, the market shares for different price ranges were: 0-100,000 RMB 21.3%, 100,000-150,000 RMB 29.4%, 150,000-200,000 RMB 15.9%, 200,000-250,000 RMB 13.1%, 250,000-300,000 RMB 7.8%, and above 300,000 RMB 12.6% [5]. Discount Rates - The overall discount rate in September 2025 remained stable compared to August, with a slight increase to 15.9% in early September and a slight decrease to 15.8% by the end of the month [6][7]. - Fuel vehicle discount rates increased slightly to 20.4% by the end of September, while new energy vehicle discounts remained at 10.2% [8][9]. Commercial Vehicle Sales - Truck sales in September reached 312,000 units, reflecting a year-on-year increase of 28.9% and a month-on-month increase of 14.9% [10]. Investment Recommendations - The article suggests focusing on key players in the automotive sector, including Geely, Xpeng, Li Auto, BYD, and Xiaomi, as well as companies in the parts and components sector [11][15][16][18].

Group 1 - Southbound funds net bought HK stocks worth HKD 34.14 billion on October 24, with notable net purchases in Meituan (HKD 6.54 billion), SMIC (HKD 6.01 billion), CNOOC (HKD 5.7 billion), Tencent (HKD 3.75 billion), Xiaomi (HKD 2.98 billion), and Alibaba (HKD 1.7 billion) [1] - Southbound funds have continuously net bought SMIC for four days, totaling HKD 17.9796 billion, and Tencent for three days, totaling HKD 9.4926 billion, as well as CNOOC for three days, totaling HKD 29.7542 billion [3] Group 2 - CNOOC's largest offshore oil and gas platform in the Beibu Gulf, the Weizhou 11-4CEPD platform, completed land engineering on October 24 and has entered the offshore installation phase, with a total weight exceeding 14,000 tons and an annual processing capacity exceeding one million tons, which will enhance the region's oil and gas self-sufficiency [4] - Alibaba launched its first self-developed Quark AI glasses on October 24, featuring dual flagship chips from Qualcomm and Hengxuan, while Apple plans to release a competing AI glasses product by the end of 2026 [4] - The Chinese government emphasized the importance of technological modernization in its 14th Five-Year Plan, aiming to enhance independent innovation capabilities and seize opportunities in the new round of technological revolution and industrial transformation [4] Group 3 - A fire incident involving a Li Auto Mega vehicle occurred on October 23 in Shanghai, with the vehicle catching fire during normal operation without prior collision or impact [5][6]

Core Insights - On October 24, 2023, CSPC Pharmaceutical Group made its debut on the Hong Kong Stock Connect active trading list for the first time in a month [2][3] - The total trading volume of active stocks on the Hong Kong Stock Connect reached HKD 457.51 billion, accounting for 40.61% of the day's total trading amount, with a net buying amount of HKD 14.12 billion [2] - Among the active stocks, SMIC had the highest trading volume at HKD 103.55 billion, followed by Alibaba-W and Hua Hong Semiconductor with HKD 89.33 billion and HKD 54.03 billion respectively [2] Trading Activity Summary - CSPC Pharmaceutical Group recorded a trading volume of HKD 5.39 billion on the day, with a net sell amount of HKD 2.47 billion, and its stock price closed down by 3.90% [2][3] - The most frequently listed stocks in the past month include Alibaba-W and Hua Hong Semiconductor, each appearing 16 times, indicating strong interest from Hong Kong Stock Connect investors [2] - Other notable stocks on the active trading list include Tencent Holdings with a trading volume of HKD 35.65 billion and a net buying amount of HKD 3.75 billion, and Xiaomi Group-W with HKD 45.85 billion and a net buying amount of HKD 2.99 billion [2]