据了解，"双11"期间，途虎养车新开业工场店用户数环比增长超700%。同时，途虎养车在全国及重点 城市的门店规模呈现增长。截至目前，上海、北京、广州、武汉、成都、苏州、深圳、重庆、杭州等20 座城市，均已实现"单城百店"的深度布局。其中，上海超400店，北京超300店，广州、武汉、成都、苏 州超200店。 新京报贝壳财经讯(记者张冰)11月14日，根据途虎养车发布的数据，"双11"期间，途虎养车平台上的国 内外大牌轮胎、机油、蓄电池、附件皮带等产品的销量均大幅增长。其中，轮胎单日最高销量突破50万 条，新能源汽车蓄电池交易用户数同比增长137%，国产大牌蓄电池交易用户数同比增长97%，附件皮 带交易用户数同比增长191%。 ...

2025年双11，全国车主的消费意愿持续增强，给汽车后市场带来更为强劲的市场表现。11月13日，行业 龙头途虎养车发布双11战报。数据显示，途虎养车双11实现全品类爆发，订单量、门店收入均创新高， 碾压式领跑行业。 依托于质高价优的产品、专业靠谱的服务、庞大的用户体量及强大的线下导流能力，途虎养车在行业中 的领先优势不断扩大，业已成为全国车主养车的首选及汽服加盟的首选品牌。 具体来看，凭借着"质量好、价格低"的产品优势，途虎养车平台上的国内外大牌轮胎、机油、蓄电池、 附件皮带等产品的销量均大幅增长，线上销售份额稳居全国龙头地位。其中，双11开门红期间，大牌轮 胎销量同比增长170%，国际大牌机油销量同比增长140%，国产大牌机油销量同比增长210%，新能源保 养销量同比增长120%；双11爆发期间，轮胎单日最高销量突破50万条，新能源汽车蓄电池交易用户数 同比增长137%，国产大牌蓄电池交易用户数同比增长97%，附件皮带交易用户数同比增长191%。 据了解，在双11期间，途虎养车新开业工场店用户数环比增长超700%，成功做到"开业就赚钱"。同 时，途虎养车在全国及重点城市的门店规模呈现碾压式增长。截至目前，上 ...

2025年11月7日，途虎养车参加由车百会研究院与华为技术有限公司联合主办的"第一届自动驾驶出行生 态论坛"。论坛上，产业相关各方的与会代表围绕"完善自动驾驶出行生态，加速自动驾驶规模应用"的 主题，共同探讨了自动驾驶出行生态的建设路径与未来趋势。途虎养车总裁胡晓东发表主题演讲，就自 动驾驶时代汽车后市场的服务升级与价值跃迁，阐述了途虎的前瞻性业务布局与服务创新路径。 用户体验是驱动服务升级的核心动力，今天的车主，特别是新能源与智能汽车用户希望享受更为"省 心、省时、省力"的服务体验，自动驾驶技术的逐步成熟，将促进汽车服务的升级与变革。途虎养车作 为中国最大的独立汽车服务平台之一，已在全国布局超过7200家工场店，覆盖1.5亿注册用户，构建起 覆盖供应链、门店管理、工单执行与客户交互的全链路数字化体系，为迎接自动驾驶时代的服务变革奠 定了坚实基础。 在自动驾驶技术推动下，汽车后市场将迎来"价值跃迁"。以途虎养车和华为正在探索的自动驾驶版"代 客洗车"为例，未来车主将无需亲自送车、车辆可自主完成服务履约的智能场景：用户通过车机或手机 APP下单，系统自动匹配最近的途虎养车工场店，车辆在设定时间自动驾驶至门店完成 ...

【#华为途虎合作探索自动驾驶去洗车#，不占用车主时间】在 11 月 7 日举行的第一届自动驾驶出行生 态论坛上，途虎养车联合创始人、总裁兼执行董事胡晓东表示，华为和途虎正在合作探索"无感养车"模 式，包括自动驾驶车辆自主前往门店、洗车全程自动化、实现车主时间零占用体验全面升级等。 胡晓东表示，"这是代客洗车自动驾驶的版本，更是汽车服务智能时代的一个雏形，车辆自己出门、自 己回家，用户全程无感，这不只是一次技术的创新，也是一次用户体验的变革。""这是一个开端。有了 这样最基础、最简单的洗车服务，未来可以畅想更复杂的养车服务业落地。"（IT之家） ...

近日，安徽省消费者权益保护委员会联合合肥、芜湖两市消保委，在途虎养车工场店成功举办"汽车维修保养消费体 察暨消费教育大讲堂"活动。通过沉浸式体察与赋能式讲堂相结合，途虎养车向消费者全方位展示了其标准化服务流 程、正品溯源体系与权益保障机制，成为行业践行"放心消费"的又一标杆。 作为中国领先的汽车服务平台，途虎养车始终坚持以用户为中心，通过正品供应链、透明化服务、标准化流程与售后 保障等多维度建设，持续推动汽车后市场服务升级。截至目前，途虎养车在全国拥有超过7200家工场店，注册用户突 破1.5亿，全平台用户满意度超过95%。 在途虎养车工场店的实地体察环节，消费者代表亲身体验了车辆到店后的全流程服务——从接车检测、故障诊断，到 施工操作与完工质检。店长现场讲解了机油真伪辨别、轮胎更换周期等实用知识，帮助消费者提升专业辨别能力，实 现"明白消费"。 在消费权益保护方面，途虎养车建立了包括"金牌质保""先行赔付"在内的多维保障机制，有效降低用户售后顾虑，提 升消费信心。吴迪指出，途虎致力于构建"消费-评价-改进-再消费"的良性循环，推动服务持续优化。 活动现场，《中国消费者》杂志社常务副总编王克祯结合典型案例，为 ...

Investment Rating - The report suggests a focus on cloud vendors and companies with exceeding expectations in the current market environment [3]. Core Insights - The report highlights a divergence in market performance, with consumer companies facing pressure while AI technology companies continue to show mixed results. Concerns about AI valuation bubbles persist, but leading tech companies like Microsoft, Google, and Meta maintain strong cash flows, suggesting a stable outlook for cloud vendors [3]. - The gaming demand remains robust, although there is a short-term lack of new game releases. Attention is drawn to the progress of key game tests and launches, which could drive revenue growth for related companies [3]. - The report emphasizes the importance of monitoring quarterly reports from major Chinese companies like Tencent, JD, Baidu, and Alibaba, as well as the ongoing value in sectors like PDD and the gaming industry [3]. Summary by Sections 1.1 Consumer & Internet - **Education**: The education index fell by 3.59%, with notable performance differences among companies. The implementation of a spring and autumn break system in Sichuan is expected to impact the sector positively [11][18]. - **Luxury & Gaming**: The luxury goods and gaming sectors are closely tied to macroeconomic conditions. Recent Q3 earnings from major gaming companies exceeded expectations, benefiting from a longer holiday schedule in 2026 [19][24]. - **Coffee & Tea**: The coffee sector remains vibrant, while the tea sector faces challenges due to reduced delivery platform subsidies and seasonal competition [3][27]. - **E-commerce**: The e-commerce sector is under pressure, with a lackluster performance during the Double Eleven shopping festival [3][35]. 1.2 Platform & Technology - **Streaming Platforms**: The streaming sector is driven by domestic demand, with platforms like Spotify reporting better-than-expected earnings [3][42]. - **Virtual Assets & Internet Brokers**: The cryptocurrency market is experiencing volatility, with a significant drop in global market value. However, there are potential buying opportunities following recent corrections [3][43]. - **Automotive Services**: The automotive aftermarket is projected to decline, with a year-over-year decrease of 4% expected by October 2025 [3][61]. 1.3 Media - The media sector is experiencing mixed performance, with streaming services facing challenges but also opportunities for growth through strategic partnerships and content offerings [3][41].

截至月份: 2025年10月31日 狀態: 新提交 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 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11月5日 I. 法定/註冊股本變動 | 1. 股份分類 | 不同投票權架構公司普通股 | 股份類別 | A | | 於香港聯交所上市 (註1) | | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 09690 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 2,431,050,420 | USD | | 0.00002 | USD | | 48,621.01 | | 增加 / 減少 (-) | | | | | | | USD | | | | 本月底結存 | | | 2,431,050,420 | USD ...

随着早期新能源车型陆续脱保，预计2025年超300万辆新能源车将"脱保"，未来八年预计近2000万辆动 力电池将超出质保期。这意味着一个千亿级的后服务市场正以前所未有的速度敞开大门。 巨大的售后市场潜力正吸引着电池厂、主机厂、汽服连锁等众多势力竞相涌入，新能源售后市场"卡位 战"已然打响。 其中，宁德时代以"技术权威"横向输出，比亚迪以"整车品牌"纵向控制，而途虎则是"售后服务平台"的 广泛整合，聚焦爆发中的保外服务蓝海。 然而，当新能源产业利润正从制造端向服务端加速迁移，究竟谁能更精准地捕捉脱保用户的真实需求？ 谁又能主导这场价值重构，成为后半场真正的赢家？ 三股势力布局路径各异 宁德时代：以技术驱动"开放赋能" 目前该模式已在上海、青岛、厦门、西安、长沙、深圳6城试点区域维修中心，实现电池"维修—替换— 回收"全链路内部循环，强化技术控制力与售后闭环。 但它的局限性在于其"封闭性"：该体系仅服务于比亚迪品牌车型，市场天花板由其整车销量决定，成长 空间相对有限。同时，对于车主而言，在质保期内基本被锁定在官方体系内，选择权较少，且自建网络 的重资产模式也带来了较高的运营成本。 途虎养车：聚焦保外市场平台化整合 ...

Core Insights - The county-level market in China is emerging as a new competitive arena for the automotive service industry, with a projected doubling of car wash and beauty stores by 2025 [2][4] - The automotive aftermarket is expected to reach a scale of 2 trillion yuan, with the penetration rate of new energy vehicles exceeding 50%, making the lower-tier market a critical growth area [2][4] Demand Drivers - The increasing number of vehicles, with a projected total of 353 million by the end of 2024, is driving demand, particularly in third and fourth-tier cities, which contribute nearly 60% of the growth [3] - The average age of vehicles in county areas has surpassed 5 years, leading to a surge in demand for car washing, beauty, and basic maintenance services [3] Industry Dynamics - Independent small repair shops are struggling, with 54% of single auto repair shops expected to see negative growth in customer visits by 2024, while chain brands are capitalizing on their advantages in procurement and standardized services [3][4] - The service gap in the lower-tier market presents a significant opportunity for chain brands to fill [3][4] Policy and Trends - The Chinese Chain Operation Association has identified "downward expansion" as one of the four main lines for the aftermarket, with local governments promoting the standardization of automotive after-services [4] - The impending "warranty expiration wave" for over 3 million new energy vehicles by the end of 2025 will create a spike in demand for battery maintenance and testing services in county markets [4] Company Strategy - Tuhu, a leading player in the automotive aftermarket, is leveraging its "system strength" rather than merely expanding its store count, focusing on a deep-rooted service network and standardized offerings [5][6] - As of June 2025, Tuhu operates 7,205 service stations, with a coverage rate of 70% in counties with over 20,000 passenger vehicles [5][6] Operational Excellence - Tuhu emphasizes detail-oriented standardization to alleviate customer concerns about service quality, ensuring that all core products are sourced directly from reputable brands [6] - The company has established partnerships with 135 educational institutions to train over 1,200 new energy vehicle technicians annually, ensuring skilled labor availability in county markets [6] Market Adaptation - Tuhu's strategy includes lowering entry barriers for franchisees and adapting services to meet local demands, such as expanding light beauty service capabilities to 5,700 stores by 2024 [7][8] - The introduction of digital tools, such as an intelligent pricing system, enhances operational efficiency and customer engagement in county markets [8] Industry Implications - Tuhu's approach signifies a new paradigm for the automotive service industry, demonstrating that the lower-tier market can be profitable and scalable [9] - The company's comprehensive standardization across supply chain, services, talent, and digitalization sets a replicable model for other chain enterprises in the industry [9]

Core Points - The "Youth Automotive Service Talent Entrepreneurship Support Program" was organized by the China Youth Entrepreneurship and Employment Foundation to address the needs of young entrepreneurs in the automotive service sector [2][3] - The automotive industry in China is experiencing stable growth, with the new energy vehicle market expanding, creating new opportunities for youth employment and entrepreneurship [2] - By 2025, the total number of talents in energy-saving and new energy vehicles in China is expected to reach 1.2 million, with a talent gap of approximately 1.03 million [2] Group 1 - The meeting featured five representatives from different regions who shared their entrepreneurial experiences and feedback on their needs [2] - The foundation's support policies have effectively lowered industry entry barriers and alleviated operational pressures for young entrepreneurs [2] - The standardized operational system of Tuhu Car Service has simplified the process of opening a store, enabling entrepreneurs to achieve stable income [2] Group 2 - The Secretary-General of the China Youth Entrepreneurship and Employment Foundation emphasized the importance of maintaining confidence and social responsibility among young entrepreneurs [3] - Tuhu Car Service, in collaboration with the foundation, launched the support program offering substantial entrepreneurial subsidies, training, and mentorship [3] - Future plans include further assistance for young automotive service entrepreneurs and the continuation of the "New Youth Plan" to help more young people realize their entrepreneurial dreams [3]