在新能源汽车行业竞争白热化的当下，理想汽车以"用户价值为先"的理念再次引发关注。8月5日，理想 汽车宣布对上市发布仅7天的i8车型进行重大调整：取消多版本配置，统一为Max版本，并将用户呼声 最高的"冰箱、彩电、大沙发"等配置全面标配，同时下调价格至33.98万元。 从用户反馈到产品调整仅用7天，这一速度在传统车企中几乎不可能实现，却已成为理想汽车的"基础能 力"。互联网企业的敏捷作战基因，让理想能够快速迭代产品策略，将用户痛点转化为竞争优势。这 种"听劝即改"的效率，不仅提升了用户体验，更在竞争激烈的市场中抢占先机，凸显其"能打胜仗"的企 业特质。 这一系列"闪电式"调整不仅快速响应了用户的真实需求，不仅体现了理想汽车作为一个具有互联网基因 的企业必备的心理素质和高强执行能力，更彰显了其在蓝海市场中打造爆款车型、重塑30万-40万纯电 SUV市场格局的战略野心。 用户需求驱动变革：理想主打一个"听劝" 理想i8上市后，用户订单数据揭示了关键洞察：超过98%的用户选择了中高配版本（Max和Ultra），且 对"冰箱、彩电、大沙发"等核心配置需求强烈。用户反馈中，"车型版本复杂、选配规则繁琐"成为高频 吐槽点。 ...

8月6日午后，港股三大指数涨跌不一。盘面上，苹果概念走强，煤炭股多股上涨。近期热度较高的港股 通汽车ETF（159323）随指数震荡，持仓股中，敏实集团、海天国际、长城汽车、地平线机器人等涨幅 居前，理想汽车、零跑汽车、中升控股等跌幅居前，其中，理想汽车午后跌超5%。 公开信息显示，港股通汽车ETF（159323）标的指数为港股通汽车指数（931239.CSI）。该指数高度聚 焦港股整车板块，乘用车含量在同类指数中领先，且拥有相对A股稀缺的造车新势力。此外，港股通汽 车指数囊括知行科技、地平线机器人、舜宇光学科技、浙江世宝等智驾产业链标的，相较于A股汽车主 题指数，该指数智驾含量更高，更契合汽车行业发展的趋势。截至8月5日，指数市盈率（TTM）仅为 20.02倍，显著低于中证新能源汽车指数、中证汽车指数、中证全指汽车指数等A股汽车主题指数，具备 一定估值性价比。 消息面上，理想汽车近期公布的交付数据显示，7月销量3.1万辆，同比下滑39.7%，环比下降15.3%；今 年前7个月累计销量23.5万辆，同比下降2%。新车型方面，理想汽车于7月底发布首款纯电SUV理想i8， 并于近日宣布以理想i8Max作为标准配置 ...

理想汽车-W(02015)跌超3%，截至发稿，跌3.4%，报99.3港元，成交额14.16亿港元。 消息面上，8月1日，理想汽车公布2025年7月交付数据。2025年7月，理想汽车交付新车3.07万辆，环比 下滑15.3%，同比下滑39.7%。前7个月，理想累计交付23.5万辆，同比下滑2.2%。此外，此外，8月5日 晚，理想汽车公众号披露第31周(7月28日至8月3日)销量，周销量为5500辆，较上一周出现下滑。 8月5日，理想汽车方面宣布对理想i8进行统一的配置调整，以理想i8Max版本车型作为标准配置，并将 售价从34.98万元调整为33.98万元。昨晚，理想汽车CEO李想在抖音发布视频，解答了理想i8为什么要 统一配置版本这一核心问题——主要是因为听了用户的需求。他还透露，理想i8小订用户超3万。 ...

Core Insights - Li Auto's CEO Li Xiang revealed that over 30,000 users have pre-ordered the Li Auto i8 model, indicating strong market interest [2] - The company announced a unified version of the i8, which will now come standard with all high-end features, addressing user feedback regarding the complexity of model choices [2] - The price of the i8 Max has been reduced from 349,800 yuan to 339,800 yuan, while users who initially chose the Ultra version can now access all features for 349,800 yuan [2] Delivery and Sales Performance - In July, Li Auto delivered 30,731 new vehicles, contributing to a total cumulative delivery of 1,368,541 vehicles as of July 31, 2025 [2]

8月6日，理想汽车-W(02015)盘中下跌3.55%，截至10:01，报99.15元/股，成交7.41亿元。 截至2025年一季报，理想汽车-W营业总收入259.27亿元、净利润6.5亿元。 本文源自：金融界 理想汽车专注于设计、研发、制造和销售豪华智能电动车，尤其以增程式电动车为特色，致力于为家庭 用户提供安全、便捷、舒适的出行体验。公司自2019年量产以来，推出了多款高端车型，并持续扩展产 品线以吸引更广泛的用户群体。 作者：行情君 ...

Core Insights - The top three companies by Hong Kong Stock Connect holding ratios are China Telecom (00728) at 74.86%, Green Power Environmental (01330) at 70.22%, and China Shenhua (01088) at 67.10% [1] - The largest increases in holding amounts over the last five trading days were seen in the following companies: Yingfu Fund (02800) with +5.886 billion, Hang Seng China Enterprises (02828) with +4.157 billion, and Li Auto-W (02015) with +2.947 billion [2] - The largest decreases in holding amounts over the last five trading days were recorded for Kangfang Biopharmaceutical (09926) with -0.774 billion, HSBC Holdings (00005) with -0.523 billion, and China Hongqiao (01378) with -0.506 billion [3] Group 1: Top Holding Ratios - China Telecom (00728) holds 10.39 billion shares, representing 74.86% of its total [1] - Green Power Environmental (01330) holds 0.284 billion shares, representing 70.22% of its total [1] - China Shenhua (01088) holds 2.266 billion shares, representing 67.10% of its total [1] Group 2: Recent Increases in Holdings - Yingfu Fund (02800) saw an increase of +5.886 billion in holding amount, with a change of +23.21079 million shares [2] - Hang Seng China Enterprises (02828) increased by +4.157 billion, with a change of +4.54198 million shares [2] - Li Auto-W (02015) increased by +2.947 billion, with a change of +2.86721 million shares [2] Group 3: Recent Decreases in Holdings - Kangfang Biopharmaceutical (09926) experienced a decrease of -0.774 billion, with a change of -0.47511 million shares [3] - HSBC Holdings (00005) saw a decrease of -0.523 billion, with a change of -0.54260 million shares [3] - China Hongqiao (01378) decreased by -0.506 billion, with a change of -2.37590 million shares [3]

Core Viewpoint - The article highlights the launch of the Li Auto i8, which features significant upgrades in its driver assistance capabilities, particularly through the integration of the VLA (Vision-Language-Action) model, marking a milestone in the mass production of autonomous driving technology [2][3]. Summary by Sections VLA Model Capabilities - The VLA model enhances understanding of semantics through multimodal input, improves reasoning with a thinking chain, and aligns more closely with human driving intuition. Its four core capabilities include spatial understanding, reasoning ability, communication and memory, and behavioral ability [3][6]. Industry Development - The VLA represents a new milestone in the mass production of autonomous driving, with many companies investing in human resources for research and development. The transition from E2E (End-to-End) and VLM (Vision-Language Model) to VLA indicates a progressive technological evolution [5][8]. Educational Initiatives - In response to the growing interest in transitioning to VLA-related roles, the industry has launched a specialized course titled "End-to-End and VLA Autonomous Driving Small Class," aimed at providing in-depth knowledge of the algorithms and technical development in this field [7][15]. Course Structure and Content - The course covers various aspects of end-to-end algorithms, including historical development, background knowledge, and specific methodologies such as two-stage and one-stage end-to-end approaches. It emphasizes practical applications and theoretical foundations [21][22][23][24]. Job Market Insights - The demand for VLA/VLM algorithm experts is high, with salary ranges for positions varying based on experience and educational background. For instance, positions for VLA/VLM algorithm engineers typically offer salaries between 35K to 70K for those with 3-5 years of experience [11]. Learning Outcomes - Participants in the course are expected to achieve a level of understanding equivalent to that of an autonomous driving algorithm engineer with one year of experience, covering key technologies such as BEV perception, multimodal models, and reinforcement learning [32].

8月5日，蔚来CEO李斌通过微博表示，旗下乐道品牌第二款车型乐道L90，上市交付三天便闯入大型 SUV整周销量TOP3，合肥工厂产能全开，正加班加点生产。乐道L90定位"大三排"SUV，7月31日正式 上市，提供六座与七座两种布局，整车起售价26.58万元，BaaS电池租用方案起售价17.98万元。 8月5日，乘联分会发布消息称，稍微上调2025年的行业年度预测。总体各项预测如下：1、2025年乘用 车零售2435万辆，增长6%，预测总量较6月的预测值增加30万辆；2、2025年乘用车出口546万辆，增长 14%，预测总量较年初的预测值提升16万辆；3、2025年新能源乘用车批发1548万辆，增长27%，预测 总量较6月的预测值微降，新能源批发渗透率达56%。4、2025年汽车批发3404万辆，增长8%，预测总 量较年初的预测值提高5个百分点。 点评：乘联分会稍微上调了对2025年乘用车市场的预测，这一调整反映出市场信心的恢复以及消费者需 求的逐步回暖。这对汽车行业相关企业而言，无疑是一个积极信号。整体来看，乘用车市场的乐观预期 可能助力消费板块的表现，从而增强市场的活力，提升投资者的信心。 NO.2 理想汽 ...

Group 1 - The U.S. stock market saw a collective decline, with the Dow Jones down 0.14%, Nasdaq down 0.65%, and S&P 500 down 0.49%. Major tech stocks like Microsoft, Meta, and Broadcom fell over 1%, while Intel rose over 3% and Amazon nearly 1% [3] - The U.S. trade deficit for June was reported at $60.2 billion, better than the expected $61 billion and down from the previous $71.5 billion [3] - COMEX gold futures rose by 0.25% to $3435 per ounce, while silver futures increased by 1.36% to $37.835 per ounce [4] Group 2 - The People's Bank of China and six other departments issued guidelines to support new industrialization, emphasizing long-term financing for key manufacturing sectors such as integrated circuits and medical equipment [7] - The China Passenger Car Association slightly raised its annual forecast for 2025, predicting retail sales of 24.35 million passenger cars, a 6% increase, and exports of 5.46 million units, a 14% increase [8] - The China Machinery Industry Federation called for fair competition in the photovoltaic industry, urging companies to avoid dumping products below cost and focus on quality and innovation [9] Group 3 - The Chinese government allocated 1.015 billion yuan to support agricultural recovery in disaster-affected areas [10] - The former chairman of China Aviation Industry Corporation was prosecuted for corruption and insider trading [11] - NIO's new model, the L90, achieved 1,976 deliveries within three days of its launch, indicating strong market demand [18] Group 4 - Tesla's board approved a stock award for CEO Elon Musk valued at approximately $29 billion, contingent on his continued leadership until 2027 [15] - Li Auto announced a price reduction for its i8 model to 339,800 yuan, aiming to enhance market competitiveness [19] - JD.com is preparing to apply for a stablecoin license in Hong Kong, countering rumors of exiting the market [20]

Core Viewpoint - Li Auto's July sales data shows a significant year-on-year decline of 39.7%, indicating pressure on its extended-range series and a need for substantial upgrades to enhance product competitiveness [1] Sales Performance - In July 2023, Li Auto sold 30,731 vehicles, a decrease of 39.7% year-on-year [1] - Cumulative sales from January to July 2023 reached 235,000 units, down 2.2% year-on-year [1] Product Launch and Strategy - The company recently launched its second pure electric model, the i8, with three configurations priced at 321,800, 349,800, and 369,800 yuan [1] - The i8's pricing strategy is conservative, aligning closely with the L8 model, and lacks certain high-demand features that competitors offer [2] - The i8's delivery strategy may affect customer commitment, as there are no additional cash incentives for customers upgrading their orders [3] Competitive Landscape - The i8 faces competition from newly launched models such as the Aito M8 and the Leado L90, which may divert potential customers due to their pricing and features [3] - Despite the competitive pressure, the i8 boasts advantages like dual-motor all-wheel drive and superior battery capacity compared to some competitors [3] Future Outlook - Li Auto has demonstrated strong error correction capabilities, with past models improving significantly after initial underperformance [4] - The upcoming i6 model, set to launch in September 2025, targets a broader market segment and is expected to strengthen Li Auto's position in the 200,000 to 300,000 yuan price range [4] - The company has established a robust charging network with 3,000 supercharging stations across 31 provinces and 258 cities, leading the industry in self-built high-speed charging stations [4] Financial Projections - Adjustments to net profit forecasts for 2025-2027 are made to 7.7 billion, 12.1 billion, and 17 billion yuan, reflecting the anticipated sales pressure on the L series and lower-than-expected market feedback for the i8 [5] - Despite the downward revision in profit forecasts, the company's strong error correction ability and recent valuation adjustments support a "recommended" rating [5]