以下文章来源于金错刀 ，作者祥燎 金错刀 . 科技商业观察家。爆品战略提出者。 作为新能源汽车行业的标杆，特斯拉有不少 "创举"被同行模仿，结果后来被车主狠狠吐槽，继而 陆续被抛弃或升级。比如取消物理按键，还有 夏天晒得头晕的全景天窗，冬天冻得僵硬的隐形门把 手…… 这一次，轮到了汽车商场店。 2013年，特斯拉在北京开设第一家体验店，地址选在了很有潮流感的侨福芳草地购物中心，开创 了在商场里卖新能源汽车的先河。 后来汽车商场店风靡全国。甚至可以说， 判断 商场 火不火， 过去 看 的是 星巴克和麦当劳的分 布， 现在 要看 有多少新能源 汽车的 门店。 投入最狠的，非蔚来莫属。据报道，北京王府井的东方广场店，蔚来付出的年租金高达 7000 万-8000万元。 作者： 祥燎 来源：金错刀 又一个特斯拉开的 "坏头"，快被抛弃了。 ------------------------------ 但风向说变就变，在商场里一掷千金的车企越来越少了。 数据显示， 2024年以来全国购物中心的新能源汽车门店数量同比减少37% ， 连特斯拉、小鹏等 头部品牌也在 "撤退"。 车企们为什么集体逃离商场？ 特斯拉开的"坏头"， ...

新浪科技讯 12月25日下午消息，据媒体报道，理想汽车第二产品线总裁张骁将于近期离职，有猜测称 或与理想i8销量表现不佳有关。针对此事，截至发稿前，理想汽车官方暂无回应。 资料显示，张骁是理想汽车的早期员工，于2016年5月加入理想汽车担任整车产品经理。更早之前，他 在宝马MINI从事车型产品策划、开发管理等工作。有报道称，张骁离职后，或将参与创业。另外，他 所管理的理想汽车第二产品线将和第一产品线合并，由原第一产品线总裁汤靖管理。 此前，理想汽车按照售价区间将旗下车型划分为三条产品线：第一产品线覆盖售价40万元以上车型，包 括MEGA和L9，由汤靖负责；第二产品线覆盖售价30万至40万元车型，包括L8、L7和i8，由张骁负 责；第三产品线覆盖售价30万元以下车型，包括L6和i6，由李昕旸负责。 理想i8是理想汽车的首款纯电SUV，也是理想旗下第二款纯电车型，定位六座纯电中大型SUV，于今年 7月上市。理想i8上市后陷入了与乘龙卡车对撞、配置版本争议、与蔚来乐道口水战等系列风波。 资料显示，张骁是理想汽车的早期员工，于2016年5月加入理想汽车担任整车产品经理。更早之前，他 在宝马MINI从事车型产品策划、开 ...

Group 1 - Mercedes-Benz (China) has delayed payments to suppliers for over two years, with outstanding amounts related to the AMG project exceeding 1.482 million yuan [3][4] - The total payable amount confirmed by Ernst & Young for the AMG project is 6.994 million yuan, but the payment process has been stalled due to various excuses from Mercedes-Benz [3][4] - The new regulations effective from June 2025 require large enterprises to pay within 60 days after delivery, but many suppliers report difficulties in enforcing this policy [4][5] Group 2 - Doubao's daily active users have surpassed 100 million, making it one of the lowest-cost products among ByteDance's billion-level apps [7][9] - Doubao's marketing expenses are reported to be the lowest for any product achieving over 100 million DAU, indicating effective cost management [7][9] - The Seed team at ByteDance is seen as a core strategic business, focusing on large model foundational research and application [9] Group 3 - Shopee is set to launch a zero-commission policy for new stores starting January 1, 2026, aimed at reducing barriers for sellers entering overseas markets [12] - This initiative will allow sellers in specific Southeast Asian markets to operate their first store without commission for the first three months, with a cap of 500 orders per month [12] Group 4 - Yuan Minghong has appointed Sun Jin as the new CEO of Dongfang Zhenxuan, confirming leadership changes within the company [13][14] - Sun Jin has extensive experience within New Oriental, having joined in 2006 and held various leadership roles [13][14] Group 5 - Cloud Deep Technology, part of the "Hangzhou Six Little Dragons," has initiated IPO counseling, focusing on intelligent robotics [16][17] - The company recently completed over 500 million yuan in Series C financing, indicating strong investor interest and growth potential [17] Group 6 - UBTECH plans to acquire a controlling stake in A-share company Fenglong Co., with a total transaction value of approximately 1.161 billion yuan [22] - The acquisition will give UBTECH a 29.99% stake in Fenglong, changing the controlling shareholder to UBTECH [22] Group 7 - The new brand "Qijing" from Huawei and GAC has unveiled its first model, a hunting-style coupe, which is set to compete in the high-end electric vehicle market [30][31] - The vehicle will feature advanced technologies, including L3-level autonomous driving capabilities, and is expected to launch in June 2026 [30][31] Group 8 - The chairman of Lantu Motors discussed the "involution" in the new energy vehicle sector, emphasizing the need for genuine innovation rather than imitation [33][34] - He highlighted that true innovation should address user needs and improve product value, rather than merely competing on superficial features [34] Group 9 - NVIDIA plans to deliver H200 chips to Chinese customers before the Lunar New Year, with a unit price of 1.4 million yuan [36][37] - The expected shipment volume is between 5,000 to 10,000 modules, translating to approximately 40,000 to 80,000 H200 chips [36][37]

Core Insights - The report highlights changes in the Hong Kong Stock Connect holdings, with notable increases and decreases in ownership percentages for various companies [1][2]. Group 1: Increased Holdings - ZTO Express (02057) saw an increase of 0.12%, bringing its latest holding percentage to 11.29% [2]. - Mongolian Mining Corporation (00975) experienced a 0.05% increase, with a current holding of 10.59% [2]. - Xinyi International (00732) had a 0.03% increase, resulting in a holding percentage of 5.17% [2]. - Lion Group (02562) had the largest increase over the last five trading days, with a 9.20% rise to 45.26% [3]. - Junsheng Electronics (00699) increased by 3.59%, reaching a holding of 10.21% [3]. - Cambridge Technology (06166) saw a 3.48% increase, with a current holding of 9.53% [3]. Group 2: Decreased Holdings - Meitu (01357) experienced the largest decrease, with a drop of 0.12% to a holding of 28.62% [2]. - Hang Seng Technology ETF (03032) saw a decrease of 0.01%, resulting in a holding of 14.90% [2]. - MicroPort Scientific Corporation-B (02160) had a significant decrease of 2.81%, bringing its holding down to 1.70% over the last five days [3]. - Yihua Tong (02402) decreased by 1.77%, with a current holding of 21.71% [3]. - Zhongjiao Holdings (00839) saw a reduction of 1.22%, resulting in a holding of 13.76% [3].

Group 1 - The revised Public Security Administration Punishment Law will take effect on January 1, 2026, and has garnered significant attention from media and the public regarding Article 136 [4][5] - The law's revision process included public consultations during its initial and second readings in August 2023 and June 2024, respectively, with specific provisions for sealing records of minor offenders [5][6] Group 2 - The law's provisions for sealing public security violation records apply to minors, covering various types of violations [5] - The law aims to address public concerns and clarify the implications of sealing records for individuals involved in minor offenses [4][5] Group 3 - The law's revisions reflect a broader trend in legal reforms aimed at balancing public safety with the rehabilitation of young offenders [5][6] - The law's implementation is expected to influence public perception and legal practices surrounding juvenile offenses in China [4][5]

Core Insights - Zhang Xiao, the president of the second product line at Li Auto, is set to leave the company, raising concerns about the future planning of the mid-to-high-end product line [2][1] - Zhang has been with Li Auto since May 2016 and played a significant role in the product definition of key models such as Li ONE and L9 [1][2] - The company has structured its product lines based on price ranges, with Zhang responsible for the second product line covering models priced between 300,000 to 400,000 yuan [1] Company Structure - Li Auto has three main product lines: - The first product line, overseen by Tang Jing, targets models priced above 400,000 yuan (MEGA, L9) [1] - The second product line, managed by Zhang Xiao, includes key models like L8 and L7, and the upcoming i8 [1] - The third product line, led by Li Xinyang, focuses on models priced below 300,000 yuan (L6, i6) [1] Impact of Departure - Zhang's departure may impact the operational pace of the second product line, which is crucial for the company's mid-to-high-end offerings [2][1]

12月22日，京东方面宣布，理想汽车官方商城正式入驻。据悉，这是理想商城首次与第三方电商平台建 立独家合作。《每日经济新闻》记者在京东平台查阅理想汽车旗舰店发现，目前售卖产品包括小桌板、 头枕等商品，不涉及整车。 ...

Core Insights - The article provides a comprehensive evaluation of Tesla in comparison to its major competitors in the Automobiles industry, focusing on financial metrics, market position, and growth prospects [1] Company Overview - Tesla is a vertically integrated battery electric vehicle manufacturer and developer of artificial intelligence software, with a diverse vehicle lineup including luxury sedans, SUVs, and trucks [2] - The company aims to deliver approximately 1.8 million vehicles globally in 2024 and also engages in battery sales, solar energy solutions, and operates a fast-charging network [2] Financial Metrics Comparison - Tesla's Price to Earnings (P/E) ratio is 334.87, significantly higher than the industry average by 18.93 times, indicating a premium valuation [5] - The Price to Book (P/B) ratio stands at 20.19, which is 6.75 times above the industry average, suggesting potential overvaluation based on book value [5] - Tesla's Price to Sales (P/S) ratio is 17.89, exceeding the industry average by 12.01 times, which may also indicate overvaluation in sales performance [5] - The Return on Equity (ROE) for Tesla is 1.75%, which is 2.81% above the industry average, reflecting efficient use of equity to generate profits [5] - The company's EBITDA is $3.66 billion, which is 0.02 times below the industry average, indicating potential financial challenges [5] - Tesla's gross profit is $5.05 billion, also 0.02 times below the industry average, suggesting lower revenue after production costs [5] - The revenue growth rate for Tesla is 11.57%, outperforming the industry average of 0.91%, indicating strong sales performance [5] Debt to Equity Ratio - Tesla has a debt-to-equity (D/E) ratio of 0.17, which is lower than its top four peers, indicating a stronger financial position and a favorable balance between debt and equity [8] Key Takeaways - Tesla's high P/E, P/B, and P/S ratios suggest potential overvaluation based on earnings, book value, and sales, while its high ROE indicates strong profitability relative to shareholder equity [9] - Concerns may arise regarding operational efficiency due to low EBITDA and gross profit levels, despite the strong revenue growth rate [9]

12月24日，有媒体报道称，理想汽车第一产品线张骁将离职，此次离职并非被动离职，而是主动离职， 和理想汽车本身的业务无关。多位知情人士称，张骁离职后，或将参与创业。张骁走后，其所管理的第 二产品线和第一产品线合并，由原第一产品线总裁汤靖管理。（21财经） ...

Core Viewpoint - The article discusses the recent departure of Zhang Xiao, the president of Li Auto's second product line, and its implications for the company's product strategy and market positioning [4][10]. Group 1: Leadership Changes - Zhang Xiao, an early employee of Li Auto, has decided to leave the company after significant contributions to the development of key models like Li ONE and L9 [4]. - The second product line, which Zhang led, is crucial for stabilizing sales and profits, covering models priced between 300,000 to 400,000 yuan [4][7]. Group 2: Product Line Structure - Li Auto established a "Product Line" department in April 2024 to address challenges faced after the MEGA launch and to improve organizational structure [6]. - The company now categorizes its models into three product lines based on price: the first line (above 400,000 yuan), the second line (300,000 to 400,000 yuan), and the third line (below 300,000 yuan) [4][6]. Group 3: Product Strategy and Market Response - The i8 model, which faced delays and criticism regarding its configuration and pricing strategy, was launched with three versions priced between 321,800 to 369,800 yuan [10]. - Following the initial launch, Li Auto adjusted the pricing of the i8, which led to a recovery in orders, with cumulative deliveries reaching 20,396 units by the end of November [11]. - The company is urged to reassess its product strategy and clarify its future product planning and market positioning amidst increasing industry competition [11].