Domestic News - The National Development and Reform Commission plans to issue targeted car purchase quotas for long-term lottery families and car-free families to boost consumption [2] - The Ministry of Industry and Information Technology has released key points for automotive standardization work by 2025, focusing on the development of standards for automotive chips [4] - The National Energy Administration reported that approximately 24,000 fuel cell vehicles have been promoted in China, with over 540 hydrogen refueling stations established [5] - The Henan provincial government has introduced policies to support the automotive industry, including subsidies for production and trade enterprises, and plans to build 5,000 charging stations by mid-2025 [6] International News - Kia Motors reported a record high quarterly revenue of 28.02 trillion KRW in Q1 2025, a 6.9% year-on-year increase, despite a 14.8% decline in net profit [7] - Denso is negotiating with suppliers and customers, including Toyota, to share the costs of raw materials to mitigate the impact of U.S. tariffs [8] Corporate News - Seres Group has submitted an IPO application to the Hong Kong Stock Exchange, focusing on the research, manufacturing, and sales of new energy vehicles [9] - BYD's "Shenzhen" vehicle transport ship has commenced its first export voyage, carrying over 7,000 electric vehicles to Brazil [10] - Nissan is reportedly planning to close its Wuhan factory by March 2026 due to declining production capacity amid market competition [11] - Xiaomi Auto will provide free roadside assistance during the May Day holiday, along with other travel services [12] - Geely Auto released its 2024 ESG report, highlighting an 18% reduction in carbon emissions per vehicle compared to 2020 and a 92% increase in new energy vehicle sales [13] - Leap Motor's founder has increased his stake in the company, with total investments exceeding 600 million HKD, reflecting strong confidence in the company's future [14]

全域自研是零跑汽车的技术根基，截至目前已经实现占整车成本65%的核心零部件自研自造。今年3月3 日，一汽集团与零跑汽车签署战略合作谅解备忘录。根据签约内容，合作将分两个维度展开：一是双方 充分发挥各自在研发领域的技术积累，共同开展新能源乘用车联合开发及零部件合作，通过二者的技术 融合共同提升产品竞争力；二是进一步探讨深化资本合作的可行性，借此实现全产业链资源协同。 针对中国车市未来的竞争格局，朱江明在2025上海车展期间接受第一财经等媒体采访时表示，接下来就 是三类企业之间的竞争，一个是新势力，一个是传统的中国车企，一个是海外的车企。"我觉得还要经 过三年的时间才基本上决定格局，也就是基本可以明朗，未来的三年对每一个车企的销量都是至关重要 的。"朱江明称。 Wind数据显示，今年以来，零跑汽车股价涨幅已达55.91%。截至4月28日收盘，公司股价涨2.73%，报 收50.75元/股。 去年第四季度，零跑汽车已实现单季度盈利目标；今年3月，零跑汽车交付量达37095台、位居造车新势 力第一名。截至4月9日，零跑累计交付已超70万台 截至2025年上海车展开幕，4月上市的零跑B10已实现8000台交付，智能轿车B ...

Group 1 - The top three companies with the highest short positions are WuXi AppTec (02359), Ganfeng Lithium (01772), and Vanke Enterprises (02202), with short ratios of 15.63%, 14.23%, and 13.24% respectively [1][2] - The company with the largest increase in short positions is China Ruifeng (00136), which saw an increase of 2.52%, followed by Vanke Enterprises (02202) with an increase of 1.49%, and Rongchang Biologics (09995) with an increase of 1.18% [1][2] - The companies with the largest decrease in short positions include Zai Ding Pharmaceuticals (09688) with a decrease of 1.31%, Midea Group (00300) with a decrease of 0.80%, and Kanglong Chemical (03759) with a decrease of 0.76% [1][3] Group 2 - The latest short position data shows that the short ratio for WuXi AppTec decreased from 6168.69 million shares to 6050.95 million shares, while Ganfeng Lithium decreased from 5893.42 million shares to 5743.15 million shares [2] - The short ratio for Vanke Enterprises increased from 259 million shares to 292 million shares, indicating a growing bearish sentiment [2] - Other notable companies with significant changes in short positions include ZTE Corporation (00763) and Brilliance China Automotive (01114), with short ratios of 12.54% and 12.18% respectively [2]

Core Insights - The 2025 Shanghai Auto Show has shifted focus from traffic and celebrity presence to technology and product innovation, marking a return to its essence [1][3][4] - The event has seen a significant increase in international participation, highlighting its global importance in the automotive industry [8][9][12] Industry Trends - The emphasis on rational marketing and safety has become prominent, with companies like BYD and Huawei modifying their product descriptions to prioritize safety over advanced driving features [3][5][7] - The auto show has become a platform for new entrants and established brands to showcase their innovations, with many companies participating for the first time [3][8][14] Technological Developments - The focus on intelligent driving technology remains strong, with companies like GAC Group and NIO discussing the importance of clear communication regarding different levels of driving assistance [5][8] - New advancements in autonomous driving technology were showcased, including L4 level vehicles from GAC Aion and partnerships for advanced systems [7][9][12] Global Engagement - The Shanghai Auto Show has attracted significant international attention, with brands like Chery and Zero Run actively engaging with overseas markets and partners [9][12][16] - The event has facilitated cross-border negotiations and supply chain connections, reinforcing China's position as a major player in the global automotive market [13][16][18] Market Dynamics - The show has highlighted the growing trend of Chinese automotive brands expanding into international markets, with significant participation from overseas dealers and media [12][16][17] - The establishment of a dedicated automotive technology and supply chain exhibition area indicates a rising interest in the supply chain aspect of the automotive industry [13][14]

点 击 蓝 字 关 注 我 们 本文为中国汽车流通协会乘用车市场信息联席分会发布的权威深度市场分析报告，涵盖了： 一、整体总市场 二、 燃料、技术细分市场 三、 厂商表现 四、 车型大类细分市场 五、 品牌定位细分市场 六、 国别定位细分市场 七、 价格定位细分市场 Contents 说明: 总市场 (轿车、MPV、SUV)：ICE+BEV+PHEV 新能源市场（轿车、MPV、SUV）：BEV+PHEV ICE：燃油车 NEV：新能源 BEV：纯电动 PHEV: 插电混动 NEV= BEV (含FCV) +PHEV (含EREV) 产销数据来源 中国汽车流通协会乘用车市场信息联席分会月报表(零售表,狭义汇总) -终稿 末计入份额低于2%的细分市场 豪华品牌: 奔驰、宝马、奥迪、凯迪拉克、捷豹、路虎、沃尔沃、英菲尼迪、讴歌、特斯拉 价格: 以起步市场指导价划分 分为10万以下、10-20万、20-30万、30-40万、40万以上五档 整体息同分 | | | | | | | 整体总市场零售月度走势 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- ...

点 击 蓝 字 关 注 我 们 国内新闻 1.十部门:2035年纯电动汽车成为新销售车辆主流 国外新闻 商用车 本文全文共 4547 字，阅读全文约需 15 分钟 目录 1. 比亚迪获2025年一季度新能源客车出口销量冠军 2. 江淮新能源ES9登陆大湾区 3. 长征氢能重卡亮相GWM全球经销商大会 4. 远程新能源商用车与九识智能达成战略合作 十部门:2035年纯电动汽车成为新销售车辆主流 时间:2025.4.28 来源:财经网 作者: 贾子健 国内新闻 1 2.深圳以旧换新带动汽车销售金额97.7亿元 3.全面聚焦新能源四驱技术研发 未来哈弗新能源只做四驱 4.小鹏智能辅助驾驶安心服务正式上线 5.宝马中国宣布接入DeepSeek 6.奇瑞将在欧洲推出Lepas品牌 7.零跑将向一汽红旗提供电动车平台 8.华为联合11家车企发布智能辅助驾驶安全倡议 1.美国2月纯电动汽车注册量同比增14% 2.特斯拉6月在美国将推自动驾驶出租车 3.丰田3月全球销量同比增长11% 4.奥托立夫与电动方程式合作 提升汽车安全 近日，交通运输部等十部门发布关于推动交通运输与能源融合发展的指导意见。其中指出，到2035年， 推 ...

Investment Rating - The report assigns a "Buy" rating to the company with a target price of HKD 57.27, based on a closing price of HKD 49.40 [6]. Core Insights - The report emphasizes that Leap Motor's success is driven by its commitment to self-research and development, leading to a strong product strategy that has helped the company stand out in the competitive market [2][15]. - Leap Motor achieved its first quarterly profit in Q4 2024, with a net profit of RMB 0.8 billion, marking it as the second profitable new energy vehicle manufacturer [3][46]. - The strategic partnership with Stellantis is highlighted as a significant advantage for Leap Motor's overseas expansion, providing unique resources and market access [4][46]. Summary by Sections 1. Self-Research and Product Strategy - Leap Motor has focused on self-research since its establishment in 2015, mastering a super-integrated technology architecture, which has been upgraded to LEAP 3.5 in 2025 [2][15]. - The company targets the mainstream passenger car market priced between RMB 100,000 and 200,000, with a projected total delivery of nearly 300,000 vehicles in 2024, ranking among the top three in new energy vehicle brands [2][21]. - Three key success factors are identified: efficient launch of range-extended models, continuous upgrades of existing models, and excellent cost control leading to competitive pricing [2][3][15]. 2. Profitability and Future Outlook - Leap Motor's revenue for 2024 reached RMB 32.16 billion, a year-on-year increase of 92%, with a gross margin of 8.4% [3][46]. - The company expects sustainable profitability due to a rich new vehicle planning and strong channel capabilities, which are anticipated to drive continuous sales growth [3][46]. - The report forecasts revenues of RMB 60.5 billion, RMB 80.5 billion, and RMB 106.8 billion for 2025, 2026, and 2027 respectively, with net profits projected to reach RMB 0.69 billion, RMB 22.52 billion, and RMB 43.92 billion in the same years [5][8]. 3. Overseas Business Development - The partnership with Stellantis, a major global automotive group, is expected to enhance Leap Motor's overseas business prospects significantly [4][46]. - The collaboration allows Leap Motor to leverage Stellantis's extensive dealer network and manufacturing resources, facilitating rapid market expansion in Europe and South America [4][46]. - The report suggests that local production could significantly improve profitability by reducing export costs and replicating successful domestic production practices [4][46].

Group 1 - Zhejiang Lingai Future Technology Co., Ltd. has been established with a registered capital of 600 million yuan [1] - The company's business scope includes artificial intelligence basic software development, artificial intelligence application software development, software sales, and Internet of Things technology research and development [1] - The company is wholly owned by Leap Motor [1]

以下文章来源于36氪出海 ，作者36氪出海 Manus获超5亿融资，资金用于全球化 小米汽车在欧洲设研发和设计中心 多点数智布局东南亚 来源｜ 36氪出海（ID：wow36krchuhai） 封面来源 ｜ Unsplash 小米汽车在欧洲设研发和设计中心 小米汽车正稳步推进欧洲布局。在德国慕尼黑，小米建立了一个汽车研发中心，目前，该研发中心规模不足50人，主要成员均为管理层及业务专家。知情人 士消息称，小米汽车慕尼黑研发中心目前没有大规模的招聘需求，定位是精英团队。除了小米SU7 Ultra纽北限量版的继续研发外，该团队还将参与小米后 续全系车型的性能调校工作。在研发业务之外，小米汽车也有意进行一些海外销售业务的筹备工作。此消息向小米汽车求证，小米官方确认了欧洲研发中心 的存在，但否认了欧洲销售体系。(36氪） Manus母公司完成超5亿元融资，聚焦中东、日本等海外市场开拓 36氪出海 . 36氪出海（letschuhai.com）是关注出海的行业媒体，为企业跨境提供海外咨询及专业服务，同时运营着超万人的出海生态社群。 据彭博社报道，Manus的母公司蝴蝶效应（Butterfly Effect）于近日完成75 ...

Group 1 - The core viewpoint emphasizes the importance of boosting consumption to expand domestic demand and strengthen the domestic circulation, with AI technology playing a crucial role in enhancing consumer engagement through customization and personalization [2][5] - The introduction of emotional companion robots like "Peipei" in elderly care facilities is highlighted as a means to address loneliness and provide emotional support, thereby improving the well-being of elderly residents [3][4] - The integration of AI with sound direction technology is reshaping acoustic experiences in various sectors, with a projected revenue increase of approximately 5 billion yuan over the next three years for companies adopting this innovation [4][5] Group 2 - The automotive industry is witnessing significant advancements in smart vehicles, with a focus on intelligent driving and AI systems, as showcased at the 21st Shanghai International Auto Show [7][9] - In the first quarter of this year, China's new energy vehicle production and sales reached 3.182 million and 3.075 million units, respectively, marking year-on-year growth of 50.4% and 47.1% [9] - The rise of smart home products is evident, with companies like Henan Xingruyu Technology Co., Ltd. experiencing a doubling of orders compared to the previous year, driven by consumer acceptance of AI-enhanced home solutions [10][11]