智通财经记者 | 贾璐 智通财经编辑 | 崔宇 【编者按】为了更全面、更及时、更精确地反映电动载人汽车出口状况，2025年3月起，智通财经/界面 智库和瀚闻资讯联合推出《中国电动载人汽车出海月报》。《中国电动载人汽车出海月报》旨在呈现全 国及各省电动载人汽车出口金额、出口数量和出口目的地等指标的月度变化趋势，以期为政府、企业和 投资者等提供决策参考。我们将于每月27日左右发布相关月报。 根据界面智库与瀚闻资讯统计，2025年11月，中国电动载人汽车贸易增长动能全面爆发，结构性分化态 势进一步凸显。进口方面延续收缩态势，出口方面则展现出强劲的加速势头，11月当月出口金额达 70.76亿美元，同比大幅增长139.83%，环比微降0.11%；出口数量达39.94万辆，同比激增144.93%，环 比增长6.52%。1-11月累计出口量已达337.31万辆，同比增长63.59%，增速较1-10月显著扩大6.99个百分 点，全球市场拓展进入高速增长通道。 从细分市场看，11月电动载人汽车出口分化路径更为清晰。乘用车领域呈现"量价齐升"的强劲增长格 局，在整体出口中占据绝对主导，出口量39.83万辆，占比高达99.73%， ...

Core Viewpoint - The article discusses the impact of the new electric vehicle (EV) purchase tax policy and subsidy changes in 2026, highlighting how these changes are prompting car manufacturers to increase promotions to attract buyers during the New Year period [3]. Group 1: Policy Changes - Starting in 2026, the EV purchase tax incentive has been reduced from full exemption to a 50% reduction (5% tax rate) [3][5]. - The "Two New" policy has shifted from fixed subsidies to a percentage-based subsidy based on vehicle price, although the maximum subsidy remains unchanged [3][5]. - The new purchase tax policy is expected to increase the cost of purchasing EVs, with the tax for a vehicle priced at 31.98 million yuan being approximately 14,200 yuan [11]. Group 2: Market Response - Car manufacturers are ramping up promotions to attract hesitant buyers, with many offering cash discounts and trade-in subsidies [5][6]. - For example, Xiaopeng Motors is offering a cash discount of 3,000 yuan and a trade-in subsidy of 3,000 yuan, totaling around 6,000 yuan in discounts [5]. - Li Auto has different discount policies for various models, with the L6 model seeing a price drop of 38,000 yuan [6]. Group 3: Consumer Behavior - There has been an increase in consumer inquiries and test drives during the New Year period, indicating heightened interest due to the policy changes [4][5]. - Many consumers are still in a wait-and-see mode, comparing different brands' promotions before making a purchase decision [6][8]. - Despite the increased costs from the new tax, many consumers are still purchasing vehicles, as seen in the sales performance of brands like NIO and Hongmeng Zhixing [8][11]. Group 4: Sales Performance - NIO's sales during the New Year period were robust, with reports of high foot traffic and test drive requests [7][8]. - In Guangzhou, a store sold over 10 units of the new Aion model in a single day, demonstrating strong demand despite the new tax [11]. - Overall, the article indicates that while the new tax has raised costs, many brands are successfully maintaining sales momentum through strategic promotions and consumer engagement [9][11].

本文源自：金融界AI电报 港股收盘，恒指收涨0.03%，科指收涨0.09%。快手(01024.HK)涨超11%，蔚来汽车(09866.HK)跌约 6%，小鹏汽车(09868.HK)跌超4%。 ...

Core Insights - The new policy for electric vehicle (EV) purchase tax has been implemented in 2026, reducing the previous full exemption to a 50% reduction, resulting in a 5% tax rate for consumers [2][4] - The subsidy policy has shifted from fixed amounts to a percentage of the vehicle price, although the maximum subsidy remains unchanged, leading to a decrease in support for lower-priced models [2][4] Group 1: Market Reactions - Car manufacturers and dealerships are increasing promotional efforts to attract hesitant buyers, aiming for a strong start to the 2026 market [2][3] - During the New Year holiday, there was a notable increase in customer inquiries and test drives, with sales staff working in larger numbers to accommodate demand [3][5] - Many dealerships are advertising their sales achievements to draw in more customers, with some offering cash discounts and trade-in subsidies [3][4] Group 2: Specific Company Strategies - Li Auto is offering varying discounts based on model, with significant reductions for popular models like the L6 and L7 [4] - NIO and other new energy brands are implementing "bottom line" measures to offset the increased purchase tax, such as cash subsidies and price reductions [6][7] - Tesla has not introduced any compensatory measures for the new tax policy but continues to see strong customer interest and sales [7] Group 3: Sales Performance - Some dealerships reported high sales volumes during the holiday, with one store selling over 10 new energy vehicles in a single day [8][9] - Despite the increased costs from the new tax, many brands are still experiencing robust sales, indicating strong market demand [8][9] - The introduction of new models and promotional strategies is expected to maintain consumer interest and sales momentum in the coming months [10][11]

和讯猎报 01.05 13:33:15 周- 【1月5日港股汽车股齐跌，小鹏汽车跌近5%且传高层变动】1月5日，港股市场汽车股集体下挫。其 中，小鹏汽车跌幅近5%，股价报76.35港元。同时，小鹏汽车传出高层变动消息。 ，小鹏汽车产品营运 中心副总裁陈永海已于2025年12月离职，其职务暂由公司总裁王凤英接替。陈永海2010年加入何小鹏创 立的UC，曾担任产品主管。 2014年UC被阿里巴巴收购后，陈永海先后加入360、高德。2022年1月， 他正式加入小鹏汽车，初期负责网路中心，后转任产品中心负责人。 本文由 AI算法生成，仅作参考，不涉投资建议，使用风险自担 小鹏汽车:股价跌近5%,产品营运中 心副总裁已离职 扫码查看原文 和讯财经 和而不同 迅达天下 【1月5日港股汽车股齐跌,小鹏汽车跌近5%且传高 层变动】1月5日,港股市场汽车股集体下挫。其 中,小鹏汽车跌幅近5%,股价报76.35港元。同 时,小鹏汽车传出高层变动消息。,小鹏汽车产品 营运中心副总裁陈永海已于2025年12月离职,其职 务暂由公司总裁王凤英接替。陈永海2010年加入何 小鹏创立的UC,曾担任产品主管。2014年UC被阿 里巴巴收购后 ...

陈永海2010年加入何小鹏创立的UC，曾担任产品主管。2014年UC被阿里巴巴收购后，陈永海曾加入360，并受UC前CEO俞永福邀请进入高德地图。2022 年1月，陈永海正式加入小鹏汽车，初期负责网路中心，后因公司产品策略调整，转任产品中心负责人。 港股市场汽车股集体下挫，其中，小鹏汽车跌近5%报76.35港元。小鹏汽车传出现高层变动。有媒体指，小鹏汽车产品营运中心副总裁陈永海已于2025年 12月离职，其职务暂由公司总裁王凤英接替。 ...

Investment Rating - The industry investment rating is "Overweight," indicating an expected outperformance of the industry index relative to the benchmark by more than 5% over the next six months [35]. Core Insights - The implementation of the vehicle trade-in policy in 2026 is expected to boost the industry's outlook, particularly for passenger vehicles, heavy trucks, and buses, with a focus on high-end electric vehicles and established export-oriented companies [2][26]. - The heavy truck segment is anticipated to see a sales volume of 800,000 to 850,000 units in 2026, reflecting a year-on-year increase of 3% [30]. - The bus segment is projected to maintain growth, with an estimated sales volume of 40,000 units in 2026, a 5% increase year-on-year [30]. - The motorcycle industry is expected to achieve total sales of 19.38 million units in 2026, a 14% increase, with large-displacement motorcycles projected to grow by 31% [27]. Summary by Sections Passenger Vehicles - The short-term outlook is positive due to the new subsidy policies, with expectations for a recovery in demand in Q1 2026. Key companies to watch include Jianghuai Automobile, Geely, Great Wall Motors, and BYD [2][26]. - The 2026 subsidy budget is projected at 125 billion yuan, which could drive an additional sales increase of 780,000 to 1.54 million units [15]. Heavy Trucks - The 2026 trade-in policy for heavy trucks has exceeded expectations, with subsidies remaining at previous levels. The anticipated sales volume for 2026 is optimistic, with a target of 800,000 to 850,000 units [30][19]. - Recommended companies in this segment include China National Heavy Duty Truck Group, Weichai Power, and FAW Jiefang [30]. Buses - The bus segment's policy has also exceeded expectations, with a projected sales volume of 40,000 units in 2026, reflecting a 5% year-on-year increase [30][18]. - Key recommendations include Yutong Bus and King Long [30]. Motorcycles - The motorcycle industry is expected to see a total sales volume of 19.38 million units in 2026, with large-displacement motorcycles projected to grow significantly [27]. - Recommended companies include Chunfeng Power and Longxin General [27].

（原标题：港股午评|恒生指数早盘跌0.08% 脑机接口概念大幅飙升） 智通财经APP或许，港股恒生指数跌0.08%，跌21点，报26316点；恒生科技指数跌0.18%。港股早盘成 交1555亿港元。 马斯克近日在社交媒体上表示，其脑机接口公司Neuralink将于2026年开始对脑机接口设备进行"大规模 生产"。脑机接口概念股大幅飙升。南京熊猫电子股份(00553)涨超44%；心玮医疗-B(06609)涨11.90%； 微创脑科学(02172)涨17%；脑洞激光-B（06681）涨19.8%。 医药股走势强劲。去年我国创新药对外授权破千亿美元，JPM大会将于本月举行。歌礼制药-B(01672)涨 8.85%；云顶新耀(01952)涨5.65%；信达生物(01801)涨6.28%。 快手-W（01024）涨超9%，外资看好明年收入预期。 复宏汉霖(02696)现涨7%，公司旗下三款实体瘤创新药IND同期获受理。 科伦博泰生物-B(06990)涨超7%，ITGB6 ADC SKB105新药临床试验申请获批。 万国黄金集团(03939)涨3.94%，所罗门金岭金矿1350万t/a改扩建关键工程落地。 博彩股普遍走软 ...

来源：环球网 【环球网科技报道 记者 李文瑶】1月5日消息，近日，有消息称小鹏汽车产品运营中心副总裁陈永海已 于2025年12月离职，其职务暂由公司总裁王凤英接替。截至发稿，小鹏汽车方面尚未对此事作出回应。 公开资料显示，陈永海于2010年加入何小鹏创立的UC，曾担任产品主管。2014年UC被阿里巴巴收购 后，陈永海离开UC，后曾加入360，并受UC前CEO俞永福邀请进入高德地图，全面负责产品运营工 作。2022年1月，陈永海正式加入小鹏汽车，初期负责互联网中心，后因公司产品战略调整，转任产品 中心负责人。截至此次离职，其在产品中心任职约三年。 暂时接替其职务的王凤英，是汽车行业资深高管。她于1991年加入长城汽车，2003年起担任总裁，被视 为长城汽车核心管理者之一。2023年1月，王凤英加入小鹏汽车担任总裁，全面负责产品规划、产品矩 阵及销售体系等工作。何小鹏曾公开表示，王凤英主内负责产品与运营，自己则主外聚焦战略与对外合 作。 王凤英加盟后，推动小鹏汽车实施了一系列改革措施，包括聚焦核心产品、优化渠道与控制成本等。在 2025年，小鹏汽车启动了涉及多部门的组织架构调整。近期，公司高层屡现变动，此前自动驾 ...

港股汽车股集体下跌 ，其中，长城汽车跌近7%，蔚来汽车、小鹏汽车跌超4.2%，奇瑞汽车、零跑汽 车、吉利汽车跌近4%，理想汽车、比亚迪股份、赛力斯均有跌幅。 消息上，中金发表报告指，展望2026年，预计内地汽车业政策延续之下内需面临一定挑战，海外销量稳 健增长。投资策略上，零部件优於整车，关注机器人、智能驾驶及数据中心液冷等AI相关布局带来的 盈利估值双升机遇。乘用车方面，该行指，两新政策托底，内需仍面临一定挑战。 另外，一份报告显示，2026年全球电动汽车销量增速预计将创下自2020年疫情冲击全球经济以来的最低 水平，因为摆脱燃油车的转型之路正面临新的障碍。据研究机构Benchmark Mineral Intelligence预测，由 于欧洲市场增长大幅放缓以及美国市场急速萎缩，2026年全球电动汽车销量(包括纯电动汽车和插电式 混合动力车)预计将仅增长13%至2400万辆，远低于2025年22%的预估增幅。 | 代码 | 名称 | 最新价 | 涨跌幅 ^ | | --- | --- | --- | --- | | 02333 | 长城汽车 | 14.090 | -6.81% | | 09866 | 蔚来- ...