插播： 5月15日，"电动交通&数字能源SiC技术应用及供应链升级大会"活动将在上海举办， 三菱电机、意法半导体、Wolfspeed、三安半导体、天科合达、元山电子、大族半导 体、香港大学、长飞先进、宏微科技、利普思、国基南方、芯长征、合盛新材料、 国瓷功能材 料等将出席本次会议，点击文章底部 "阅读原文" 即可报名参会。 4月23日至5月 2日， 第二十一届上海国际汽车工业展览会在上海如约举行， 吸引了来自26个国家和地区的近1000家中外知名企业参展。据 上海国展集团等统计， 展会首日展出车辆近1300辆，其中新能源汽车 约占7成 ，且 首发新车超100款。 据不完全统计，去年同期举行的北京车展共有碳化硅车型约70多款，而今年上海车展又新增了 超过30款 碳化硅新车型，将近本次车展新车数量的三分之一。 | 车变 | 纯电SiC新车型 | 混动SiC车型(包含新车型) | | --- | --- | --- | | 比亚迪 | 仰望U8L、腾势Z | 方程豹5、方程豹8 | | 吉利汽车 | 领克900 | 银河星耀8新车型、雷达皮卡PHEV、极氪9X | | 上汽通用 | 别克" 世家"、凯迪拉克LYRI ...

点 击 蓝 字 关 注 我 们 本文全文共 3682 字，阅读全文约需 12 分钟 目录 国内新闻 1.日产宣布计划在中国再投资100亿开发电动汽车 2.蔚来25年9款新车型将上市 5纳米智驾芯片全球首发 3.小鹏汽车启动AI驾驶安全营 全力研发全新"AI大脑 4.长安三款搭载新蓝鲸500Bar发动机车型开启交付 5.上汽集团未来三年将推出17款全新海外车型 6.阿维塔宣布2026年将推中大型五座/大型六座SUV 7.上海市印发《2025年上海市进一步支持汽车置换更新补贴政策 实施细则》 8.四川:正抓紧编制《四川省氢能产业中长期发展规划（2025—2035年）》 国外新闻 1.特斯拉廉价新车型按计划上半年投产 2.美国六大汽车行业组织联名反对加征汽车零部件关税 3.官宣 大陆集团汽车子集团将命名为Aumovio 4.Turntide推出新型轴向磁通电机 有望加速电气化集成 商用车 1. 最高14万 2025江苏省老旧货车补贴来了 2. 广汽日野正式更名为广汽领程新能源商用车 3. 全球首款越野混动皮卡 山海炮Hi4-T开启全球预售 4. 江淮悍途PHEV国内首发亮相上海车展 国内新闻 1 日产宣布计划在中国 ...

作 者丨巩兆恩 编 辑丨张明艳 4月2 3日，上海车展拉开帷幕，在AI技术的托举下，智能网联汽车的定义与功能不断演进，除了汽车产品， 以人形机 器人为代表的具身智能领域走进大众视野，"粤字号"选手不在少数。 小 鹏 I R O N 现 场 与 观 众 招 手 互 动 小鹏汽车新"车模"——小鹏机器人IRON现身展台，与小鹏汽车董事长何小鹏现场碰拳互动展示，与现场观众招手、打 招呼、比耶、点赞，吸引大量观众与媒体驻足观看，关注度一度盖过汽车产品本身，成为车展首日的"顶流"。 长远来看，要在2 0 3 0年实现机器人产业链产值突破1 0 0亿元，助力实现"万亿广汽"战略目标。 除了小鹏、广汽两家车企领头，助力具身智能的部分零部件企业同样参展，为市面上的人形机器人注入更多广东基 因。 这是小鹏机器人首次亮相公开场合，并与观众互动。 相比此前IRON在小鹏工厂流水线上助力生产的行走视频，此次 亮相上海车展的小鹏IRON走路姿态进步明显。 据了解， 小鹏IRON按仿人结构设计，以1 : 1类真人的姿态展现，其拥有超6 0个关节，可模拟人类站立、躺卧、坐。 据何小鹏介绍，小鹏机器人整体全身的平衡动作，完全为内置大模型。目 ...

本文全文共 3852 字，阅读全文约需 13 分钟 点 击 蓝 字 关 注 我 们 目录 国内新闻 1.一季度北京地区汽车产业出口128.1亿元 2.中国新车装载智能化座舱渗透率达73% 3.蔚来新品牌firefly萤火虫首款同名车型上市 4.阿维塔目标:25年计划进入50个国家 5.宝马宣布与字节跳动深化本土合作 6.上汽王晓秋:智己是集团一号工程和唯一高端品牌 7.比亚迪计划25年目标日本门店扩至百家 8.Stellantis与零跑汽车即将启动马来西亚本地化组装项目 国外新闻 1.印尼:政府拟修订国内组件率政策以吸引外资 2.泰国:电动汽车销量有望突破10万辆 3.日本考虑放宽汽车安全规则来达成与特朗普的协议 4.大众集团计划在美国市场推出混合动力车型 商用车 1. 广汽日野改名广汽领程 主要以新能源卡车为发展方向 2. 苇渡纯电重卡完成广东-新疆4983公里载货测试 3. RELY威麟品牌全球发布 开辟技术普惠型全球皮卡之路 4. 东风商用车与中汽中心达成战略合作 国内新闻 1 一季度北京地区汽车产业出口128.1亿元 时间:2025.4.21 来源:财联社汽车早报 4月19日，据北京海关消息，今年一季 ...

Group 1 - GAC Group has unveiled the GAC Starling Safety Guardian System, which includes a comprehensive safety R&D system, all-domain safety technologies, and 24/7 safety assurance [1] - The safety R&D system incorporates stricter collision safety standards and an intelligent development engine to ensure high product safety [1] - The all-domain safety technologies cover intelligent driving safety, chassis safety, passive and active safety integration, and battery safety, enhancing consumer confidence [1] Group 2 - Changan Automobile's president Wang Jun has resigned due to work changes, raising concerns about the company's future strategic direction and management stability [2] - The resignation will not affect the normal operations of the board, but the effectiveness of the new management in executing the company's strategy will be crucial [2] Group 3 - Jiangling Motors plans to repurchase A-shares with a total fund of no less than 150 million yuan and no more than 200 million yuan, aimed at implementing an employee stock ownership plan or equity incentives [3] - The repurchase price will not exceed 22.00 yuan per share, and any unutilized shares within 36 months will be canceled, indicating the company's confidence in future development [3] Group 4 - General Motors has announced a temporary production halt at its CAMI assembly plant in Ontario, Canada, starting April 14, with plans to resume partial production in May [4] - The plant will undergo equipment upgrades for the production of the 2026 commercial electric vehicle, which may enhance GM's positioning in the electric vehicle market [4] Group 5 - Tesla's entry into the Saudi Arabian market faces challenges, including low electric vehicle penetration and competition from local players like BYD and Lucid Motors [5] - Despite these challenges, there is a potential customer base in Saudi Arabia that has been waiting for Tesla, which may provide growth opportunities [5]

撰文 / 路 行 设计 / shelly 2024年，中国新能源汽车产业交出了一份亮眼成绩单：产销量突破1300万辆大关，占全球市场份额超60%。在政策与市场的双重驱动下，这个承载着 制造业转型升级使命的产业正迎来关键转折——今年政府工作报告进一步明确，将智能网联新能源汽车、智能机器人等新一代智能终端列为重点发展 领域，为汽车产业升级按下"加速键"。 阳春三月末尾，一场关于未来出行的思想盛宴持续升温。3月29日，在中国电动汽车百人会论坛进入第二日之际，新能源汽车产业的领军人物相聚北 京，围绕汽车行业生态、电动化进程、智能网联、飞行汽车等前沿议题发表见解，勾勒未来出行新图景。 以下是汽车商业评论按照演讲顺序整理的车企高管演讲重点。 长安汽车副总裁、深蓝汽车CEO邓承浩 邓承浩在演讲中透露，今年长安汽车搭载全固态电池的样车会首发，明年会做规模化的装车验证，2027年开始逐渐量产，上车之后续航大概1500公 里；作为30万—35万元的大六座旗舰级产品，深蓝S09很快会量产；下个月在泰国投产新能源整车工厂，也会投产其全球化战略车型深蓝S05。 他也表达了他的压力。 他说："随着数字化转型，汽车已经从原来的B2B2C的 ...

Financial Performance - Total sales revenue for the year ended December 31, 2024, was RMB 107,783,807 thousand, a decrease of 16.9% compared to RMB 129,706,167 thousand in 2023[4] - Gross profit for the year was RMB 2,437,908 thousand, down 44.5% from RMB 4,364,065 thousand in the previous year[4] - The net loss attributable to equity holders of the company for 2024 was RMB 494,047 thousand, compared to a profit of RMB 3,740,161 thousand in 2023[4] - Basic and diluted earnings per share for 2024 were RMB 0.08, a decline from RMB 0.42 in 2023[4] - Total comprehensive loss for the year was RMB 574,969 thousand, compared to a total comprehensive income of RMB 3,860,776 thousand in 2023[5] - Operating loss for 2024 is RMB 3,433,880, compared to a loss of RMB 4,841,978 in 2023, indicating an improvement[24] - The company reported a net loss of RMB 494,047 for 2024, compared to a profit of RMB 3,740,161 in 2023[24] - The company recognized a pre-tax loss of RMB 727,035,000 for 2024, compared to a profit of RMB 3,524,698,000 in 2023[35] - The net profit attributable to shareholders was approximately RMB 8.24 billion, down approximately 81.40% year-on-year[91] - The company’s gross profit margin decreased by 1.1 percentage points, with total gross profit of RMB 24.38 billion, down approximately 44.13% year-on-year[95] Revenue Breakdown - Revenue from automobile sales and related products was RMB 95,569,307 thousand, down 19.4% from RMB 118,607,920 thousand in the previous year[20] - Revenue from maintenance, transportation, and other services increased to RMB 5,864,451 thousand, up 6.0% from RMB 5,535,507 thousand in 2023[20] - Other sources of income, including insurance and financial services, rose to RMB 6,350,049 thousand, an increase of 14.2% from RMB 5,562,740 thousand in 2023[20] - Revenue from external customers for 2024 is RMB 107,783,807, a decrease of 16.9% from RMB 129,706,167 in 2023[24] - Revenue from external customers in mainland China for 2024 is RMB 96,043,359, down from RMB 124,184,844 in 2023, a decrease of 22.7%[28] Assets and Liabilities - Non-current assets increased to RMB 121,426,317 thousand in 2024 from RMB 117,338,133 thousand in 2023[6] - Current liabilities rose to RMB 90,778,060 thousand in 2024, up from RMB 77,194,220 thousand in 2023[7] - Total equity attributable to equity holders of the company decreased to RMB 114,408,106 thousand in 2024 from RMB 115,774,177 thousand in 2023[8] - The company’s total liabilities increased to RMB 110,681,759 in 2024 from RMB 93,994,958 in 2023, an increase of 17.7%[25] - Total assets increased to RMB 232,512,366 in 2024 from RMB 218,448,770 in 2023, representing a growth of 6.4%[25] Investments and Joint Ventures - Net profit share from joint ventures and associates decreased to RMB 2,998,268 in 2024 from RMB 8,349,006 in 2023, a decline of 64.1%[24] - The share of profits from joint ventures for 2024 is RMB 2,770,167 thousand, down 65.2% from RMB 7,959,352 thousand in 2023[40] - The total assets of major joint ventures decreased to RMB 137,999,515 thousand in 2024 from RMB 180,207,805 thousand in 2023, a decline of 23.2%[43] - The total liabilities of major joint ventures decreased to RMB 102,985,801 thousand in 2024 from RMB 129,932,937 thousand in 2023, a decline of 20.8%[43] - The investment in joint ventures decreased to RMB 30,122,264 thousand in 2024 from RMB 37,159,868 thousand in 2023, a decline of 19%[39] Production and Sales - The company achieved total vehicle sales exceeding 2 million units in 2024, with GAC Trumpchi selling approximately 415,000 units, leading the domestic MPV market with around 184,000 units sold[55] - The company achieved total vehicle production and sales of 1.9166 million and 2.0031 million units, with new energy vehicle production and sales of 436,200 and 454,700 units respectively[83] - The total sales volume of passenger vehicles for the year was 2,002,035 units, a decrease of 20.06% compared to the previous year[124] - Domestic sales of passenger vehicles decreased by 22.80% to 1,874,972 units, while overseas sales increased by 67.64% to 127,063 units[126] - The company’s production of passenger cars was 181,632 units, with sales of 193,975 units, reflecting a year-on-year decrease of 29.14% in sales volume[102] Research and Development - Research and development investment exceeded RMB 7.15 billion in 2024, with over 3,200 new patent applications filed, bringing the total to over 21,000[57] - The number of R&D personnel was 7,317, accounting for 19.10% of the total workforce[109] - Total R&D expenditure for the reporting period was approximately RMB 71.54 billion, a decrease of about RMB 10.64 billion compared to the same period last year, accounting for 6.64% of sales revenue[109][111] - The company is focusing on enhancing its R&D capabilities, particularly in electric vehicle battery technology and intelligent driving platforms[138] Strategic Initiatives - The company is focusing on strategic transformation and high-quality development amid the automotive industry's shift towards electrification and intelligence[54] - The company aims to achieve a 15% year-on-year increase in annual vehicle sales, focusing on three core tasks: stabilizing joint ventures, strengthening independent brands, and expanding ecosystems[59] - The company plans to launch 22 new vehicle models within the next three years, targeting a 60% share of total sales from independent brands by 2027, with a goal of selling 2 million units domestically and exporting 500,000 units[60] - The company is implementing the "GLASS Green Plan" to achieve carbon neutrality across the product lifecycle by 2050, with a challenge to reach it by 2045[136] - The company is exploring strategic acquisitions to enhance its product offerings and market reach, targeting a 10% growth in market share by 2025[154] Market Trends and Challenges - The automotive industry in China maintained production and sales above 30 million units, with 2024 production reaching 31.28 million units and sales at 31.44 million units, marking a year-on-year increase of 3.7% and 4.5% respectively[78] - The penetration rate of new energy passenger vehicles in China exceeded 50% in 2024, with a projected increase in 2025[133] - The market share of domestic brands in the passenger vehicle segment surpassed 65% in 2024, marking a historical high[133] - The company faces challenges in enhancing product competitiveness, particularly in the PHEV and REEV segments, and in establishing a robust overseas operational framework[141] Corporate Governance and Compliance - The company has adhered to the corporate governance code as per the listing rules during the year[146] - The company’s audit committee reviewed the quarterly, semi-annual, and annual performance and internal control systems during the reporting period[147] - The company has not purchased or sold any of its listed securities during the year[145] - The company has not redeemed any of its listed securities during the reporting period[145]

霸王茶姬将赴纳斯达克上市，去年交易额近 300 亿元。 北京时间 3 月 26 日凌晨，霸王茶姬向美国证券交易委员会（SEC）递交招股书，第一次清楚告诉 市场自己的策略、历程。2022 年到 2024 年，GMV 分别上涨 734.3% 和 172.9%，去年超预期地卖 出 294 亿元茶饮。在霸王茶姬定义的精品茶（premium tea，17 元以上的茶饮）品类下，霸王茶姬 市占率超 30%。去年营收和净利润分别高达 124.05 亿元 25.15 亿元，远超门店数更多的茶百道、 沪上阿姨和古茗。 蜜雪坚持做极致的低价，古茗搭建供应链能力，喜茶不断推陈出新，后起的霸王茶姬凭借自己的禀 赋选了一条不同的赛道：定义一个新的大单品、投入所有资源，"做穿" 后再尝试新东西。今年霸 王茶姬将继续推 "第二杯茶"，轻资产模式也带来更低的物流成本和库存周转天数。据招股书，霸 王茶姬预计今年开出 1000-1500 家店。4 月，霸王茶姬将开出美国第一家店。 泡泡玛特去年收入破百亿，LABUBU 所在系列创收 30 亿元。 泡泡玛特 3 月 26 日发布年报，公司收入翻倍至 130.4 亿元，首次破百亿元。LABUBU 所 ...

Core Viewpoint - The dramatic surge in Evergrande Auto's stock price, which increased nearly 200% in just five minutes, was primarily driven by rumors regarding a potential acquisition by GAC Group, but these rumors were later denied by GAC [1][3][4]. Group 1: Stock Performance - Evergrande Auto's stock experienced a peak increase of over 236% during intraday trading, ultimately closing up 74.79% at HKD 0.208, with a total market capitalization of HKD 22.56 billion [1]. - Since October 3, the stock has seen a cumulative decline of nearly 80% [12]. Group 2: Rumors and Clarifications - The surge in stock price was fueled by a rumor that GAC Group would acquire Evergrande Auto's Nansha factory, which GAC later clarified was untrue, stating that their GH project would prioritize using existing production capacities from their own brands [3][4][10]. - GAC Group's GH project was established with a registered capital of RMB 1.5 billion and aims to collaborate with Huawei to launch a new automotive brand [6][7]. Group 3: Financial Situation - As of June 30, 2024, Evergrande Auto reported cash and cash equivalents of only RMB 39 million, total assets of RMB 16.369 billion, and total liabilities of RMB 74.35 billion, including borrowings of RMB 26.59 billion and trade payables of RMB 46.695 billion [14]. - The company has been actively seeking strategic investors to alleviate liquidity issues and has previously halted discussions regarding potential share transfers [14].

本月行情： 2月CS汽车板块上涨8.66%，其中CS乘用车上涨9.08%，CS商用车上涨2.54%，CS汽车零部件上涨 10.33%，CS汽车销售与服务上涨2.47%，CS摩托车及其它上涨4.61%，同期沪深300指数上涨1.91%，上证综合指数上 涨2.16%，CS汽车板块跑赢沪深300指数6.75pct，跑赢上证综合指数6.5pct；汽车板块自2023年初至今上涨28.71%，沪 深300上涨13.38%，上证综合指数上涨11.63%，CS汽车板块跑赢沪深300指数15.33pct。 成本跟踪： 截至2025年2月28日，浮法平板玻璃、铝锭类、锌锭类价格分别同比去年同期-33.1%/+9.4%/+15.9%，分别 环比上月同期-0.4%/+1.9%/-2.9%。 库存： 2025年2月中国汽车经销商库存预警指数为56.9%，同比下降7.2个百分点，环比下降5.4个百分点，库存预警指 数位于荣枯线之上。 市场关注： 1）智驾进展：奇瑞发布"猎鹰智驾"智能化方案推动智驾平权；吉利发布千里浩瀚智驾系统；理想汽车发 布下一代自动驾驶架构MindVLA；广汽发布智能科技品牌"星灵智行"；2）机器人：长安汽车在机器人 ...