重磅官宣！近日，途虎养车宣布正式成为2025阿拉善英雄会战略合作伙伴，并成为唯一受邀参与盛会的 汽后服务平台。途虎养车将携20家国际大牌，为阿拉善英雄会提供更专业的车辆保障服务，打造2025年 国庆档越野盛宴。 阿拉善英雄会是中国最大规模越野改装车及户外嘉年华，是越野爱好者心中的"沙漠图腾"，而途虎养车 是中国最大的独立汽车服务平台，双方强强联合，将为广大越野爱好者构建从场景体验到专业保障的闭 环服务体系。 与此同时，途虎养车APP将推出阿拉善英雄会专题页面、车友社群等系列线上特色活动。"线上赢赛事 门票"等互动同步上线，用户参与即有机会赢取阿拉善英雄会门票，近距离感受越野盛会魅力。 此次深度参与阿拉善英雄会，是途虎养车继自驾主题店、《途虎自驾指南》IP之后，在自驾出行领域的 又一重大布局。本次活动通过"产品展示+场景体验+硬核内容"三维模式，向越野爱好者传递专业养护 理念。 途虎养车与阿拉善英雄会联动，不仅是品牌活力与体育精神的同频共振，更希望为越野爱好者出行、用 户日常用车护航，打造更有温度的一站式汽车服务新体验。 （文章来源：证券时报网） 具体来看，轮胎领域，米其林集团专业越野轮胎品牌——百路驰将携新一 ...

Core Viewpoint - The Chinese automotive service industry, driven by over 359 million vehicles, is undergoing a significant transformation, with the market expected to reach 1.9 trillion yuan by 2025 and 2.2 trillion yuan by 2030 [1][3]. Industry Overview - The automotive service sector in China is characterized by a fragmented competitive landscape, comprising 4S dealerships, large chain platforms, regional chains, and numerous independent repair shops [1]. - The industry is currently in a deep adjustment phase, with a reported 5% decline in market value and a 4% decrease in service visits in the first half of 2025 [3]. Company Performance - Tuhu Car Maintenance, a leading player in the automotive service industry, reported a revenue of 7.88 billion yuan in the first half of 2025, marking a 10.5% year-on-year increase, and an adjusted net profit of 410 million yuan, up 14.6% [4][5]. - The company's stock price surged by 11.44% following the release of its strong financial results [5]. Operational Expansion - Tuhu Car Maintenance has established the largest offline automotive service network in China, with 7,205 service locations as of June 30, 2025, a 14.2% increase from the previous year [6]. - The company has focused on expanding into lower-tier cities, with over 60% of new stores opened in second-tier and below cities, significantly boosting its market presence [6]. Product and Service Strategy - Tuhu employs a dual-track strategy, collaborating with both international brands and domestic manufacturers to cater to various consumer needs [7]. - The company has seen a 60% year-on-year increase in revenue from its quick repair services, driven by the rising average age of passenger vehicles [8]. Technological Advancements - Tuhu has integrated AI technology into its operations, enhancing service quality and operational efficiency across its network of over 7,200 service locations [11]. - The company has developed a comprehensive automotive parts database with 9.5 million SKUs, achieving a matching accuracy of 99.99% [12]. Customer Engagement and Satisfaction - Tuhu Car Maintenance boasts a user base of 150 million registered users, with a customer satisfaction rate exceeding 95% and a repurchase rate of 64% [14]. - The company emphasizes long-term strategies and technological investments to maintain its leading position in the automotive service industry [14].

9月8日，最高人民法院发布了八个反不正当竞争典型案例，其中影响较大的是上海知识产权法院二审、 上海市闵行区人民法院一审判决的不正当竞争纠纷一案，案件的被告主体为北京京东世纪信息技术有限 公司、北京汽广行信息技术有限公司、北京京东世纪贸易有限公司（以下共同称"京东养车"），法院生 效判决京东养车因商业诋毁与虚假宣传构成不正当竞争，该判决为市场内经营者之间的竞争行为边界提 供了明确的司法指引，具有典型意义。 齐鲁晚报·齐鲁壹点 吴海云 "震虎价"被纳入最高法的反不正当竞争典型案例中，宣示类似的诋毁竞争对手的行为会被认定为不正当 竞争，也是给当下网络营销提了一个醒：营销玩梗别过界。 途虎养车与京东养车之间的不正当竞争纠纷始于2023年9月，当时，京东养车以"震虎价"为宣传核心标 语，并以此展开了一系列诋毁式营销活动。2024年1月，途虎养车正式起诉京东养车不正当竞争，诉讼 持续了将近两年。 2025年7月21日，上海知识产权法院就上述案件做出终审判决，法院认定"京东养车实施了商业诋毁以及 虚假宣传行为，不仅构成不正当竞争，且使消费者在特定场景下产生误解。" 上海知识产权法院二审判决书明确指出，京东养车实施的"震虎价 ...

近日，兴业证券发布研报称，途虎养车业绩稳健增长，毛利率环比改善，用户规模及门店网络持续扩 张。综合最新一期公开财务数据，兴业证券称途虎养车门店网络及用户规模的快速增长、供应链及物流 的效率持续提升将望支撑未来收入稳健提升及规模效应持续增强；兴业证券还预测，途虎养车未来的销 售和净利润数据将持续攀升，维持买入等级。 ...

针对新能源车主的差异化需求，途虎养车重点布局专属产品开发，加快创新迭代。其中，基于用户洞察，途虎养车与头部轮胎品牌推出适配电动车高扭矩、 低噪音特性的新能源车专属轮胎，并配套"终身质保"服务;与国际机油品牌开发增程混动车专用机油，优化发动机保护;与知名车膜品牌研发高信号穿透率车 膜，解决智能驾驶信号干扰问题等。 行业发展以人为本，产业升级教育先行。相关数据统计，在汽修行业人才缺口中，新能源汽车售后人才缺口就占了八成。据介绍，途虎养车搭建起一套完 善、科学的新能源汽车维修技师培训体系，形成了线上+线下培训闭环，能够培养出更多合格的新能源人才。目前，途虎养车持有低压电工证的新能源技师 超过800人，接受新能源车技术培训的技师逾4000人，专业能力已成为其核心竞争壁垒。 面对新能源汽车后市场新机遇，途虎养车正加强全产业链协同合作。途虎养车作为"广覆盖、深渗透"的独立第三方汽车服务平台，将持续补充整车企业及电 池企业的售后履约能力，通过供给侧创新引领行业高质量转型。随着新能源汽车保有量持续攀升，途虎养车的全链条布局正为行业提供可复制的服务范式， 助力破解后市场爆发期的供需匹配难题。 智通财经APP获悉，9月12日，在 ...

Core Insights - The forum highlighted the growth and transformation of the automotive aftermarket, particularly in the context of new energy vehicles (NEVs) [1] - Tuhu Car Service is positioning itself as a leader in the NEV aftermarket by enhancing its service capabilities and product offerings [3][4] Group 1: Industry Overview - The number of NEVs in China has surpassed 36 million, indicating a significant growth opportunity in the NEV aftermarket [3] - Tuhu Car Service has established over 7,200 service centers and has 150 million registered users, with 3.4 million users specifically for NEV transactions, reflecting an 83.5% year-on-year growth [3] Group 2: Product Development and Innovation - Tuhu Car Service is focusing on developing specialized products for NEV owners, including exclusive tires designed for electric vehicles and dedicated engine oils for hybrid vehicles [3] - The company is also collaborating with well-known brands to create solutions that address specific challenges faced by NEV users, such as signal interference for smart driving [3] Group 3: Talent Development and Training - There is a significant talent gap in the automotive repair industry, with 80% of the shortage being in NEV after-sales service personnel [4] - Tuhu Car Service has implemented a comprehensive training system for NEV technicians, with over 800 certified low-voltage electricians and more than 4,000 technicians receiving NEV technology training [4] Group 4: Strategic Positioning and Market Opportunities - Tuhu Car Service aims to enhance collaboration across the entire industry chain, positioning itself as an independent third-party service platform to support automakers and battery companies in after-sales service [4] - The company's full-chain layout is designed to provide replicable service models, addressing the supply-demand mismatch in the rapidly growing NEV aftermarket [4]

超过3.59亿辆的汽车保有量，正在推动中国规模达万亿的汽车服务行业发生关键转型。 罗兰贝格预测，中国汽车后市场总体规模在2025年将达到1.9万亿元，到2030年市场规模将增长至2.2万亿元。我国汽车服务行业呈现 "散而多" 的竞争格局， 整体规模庞大但高度分散，主要包含4S店体系、大型连锁平台、区域连锁以及大量独立维修厂和夫妻店。 在移动互联技术和新消费场景的推动下，下游客户话语权持续提升，催生了以客户为中心的服务模式，大量客户从线下转向线上平台。头部企业凭借其在供 应链和服务能力等方面的优势，进一步扩大市场份额。 中国汽车服务行业目前仍处于深度调整期。根据数据机构F6发布的《2025年第二季度汽车后市场行情报告》，上半年汽车后市场累计产值和进厂台次同比 分别下滑5%和4%，市场需求呈现阶段性收缩态势。 然而，作为中国汽车服务行业的龙头企业，途虎养车逆势交出了一份亮眼的财报。2025年上半年，途虎养车营业收入达78.8亿元，同比增长10.5%；经调整 净利润为4.1亿元，同比增长14.6%。 （文/霍东阳 编辑/张广凯） 通过持续的技术投入，途虎养车构建了产品品质提升、供应链效率提升、服务标准化提升三者协同 ...

京东养车与途虎之争再起波澜。9月9日，智通财经记者获悉，京东养车已向法院提起诉讼，起诉途虎养 车不正当竞争，目前法院已经受理。京东养车相关负责人表示，确实有不正当竞争手段对京东养车造成 了影响，因此我们向法院提起了诉讼。我们不仅是为了京东养车，更是希望通过法律途径维护用户的合 法权益。（智通财经记者 范佳来） ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年8月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 途虎養車股份有限公司(*僅供識別) （於開曼群島註冊成立以不同投票權控制的有限公司） 呈交日期: 2025年9月3日 | 2. 股份分類 | 不同投票權架構公司普通股 | 股份類別 | B | | 於香港聯交所上市 (註1) | | 否 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | N/A | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | 面值 | | | | 法定/註冊股本 | | | 上月底結存 | | | 68,949,580 | USD | | 0.00002 USD | | | 1,378.99 | | 增加 / 減少 (-) | | | | | | USD | | | | | 本月底結存 | | | 68,949,580 | USD | | 0.00002 USD | | | 1 ...

Group 1: AI Industry Insights - The report highlights the release of the "Artificial Intelligence+" action plan by the State Council, which aims to strengthen foundational support capabilities in AI, including innovation in AI chips and software ecosystem development [3] - The action plan is expected to provide long-term institutional guarantees for the development of the AI industry, addressing current bottlenecks such as insufficient computing power and low-quality data supply [3] - Companies to watch include those involved in AI technology and applications, such as Kingdee International, Meituan, and various players in AI education and healthcare [3] Group 2: Economic and Market Outlook - The "14th Five-Year Plan" emphasizes the need for a unified market to break local protectionism and promote efficient resource allocation [4] - The plan also aims to support consumer spending and upgrade consumption structures, indicating a shift in fiscal spending towards improving livelihoods [4] - The capital market reform during this period is expected to transition from policy-driven to institution-driven, promoting high-quality development of the capital market [4] Group 3: Aerospace Industry Developments - China's commercial aircraft market share exceeds 20%, with the C919 aircraft production capacity expanding, potentially breaking the Airbus and Boeing duopoly [4] - The demand for commercial engines in China is projected to exceed $600 billion over the next 20 years, with an average annual demand of over 200 billion RMB [4] - The report indicates that the domestic aerospace industry is likely to experience significant growth due to the focus on local market development and self-sufficiency [4] Group 4: Semiconductor Sector Performance - Changdian Technology reported a revenue of 18.605 billion RMB for the first half of 2025, reflecting a year-on-year growth of 20.14%, driven by increased domestic orders and market demand recovery [8][34] - The company's net profit decreased by 23.98% due to ongoing construction of new factories and rising financial costs, but gross margin improved from 12.6% to 14.3% [34][38] - The semiconductor industry is experiencing a recovery, with global sales expected to continue growing, providing opportunities for companies in this sector [36] Group 5: Consumer Electronics and Home Appliances - Wanhe Electric reported a revenue of 4.08 billion RMB in the first half of 2025, with overseas revenue growing by 26.5% while domestic revenue declined by 4.4% [16] - The company is focusing on digital transformation and cost optimization to enhance its competitiveness in both domestic and international markets [16] - The report anticipates steady growth in the home appliance sector, driven by innovations and expansion into overseas markets [16] Group 6: Automotive and New Energy Sectors - Tuhu-W reported a revenue of 7.877 billion RMB in the first half of 2025, with a year-on-year growth of 10.54%, driven by expansion into lower-tier cities [17] - The company is enhancing its supply chain and logistics efficiency, which has positively impacted its operational performance [17] - The new energy vehicle segment is emerging as a significant growth driver, with a notable increase in transaction users on the platform [17]