Core Insights - The automotive market in January 2026 shows a clear distinction between traditional domestic brands, which are performing strongly, and new energy vehicle (NEV) startups, which are facing challenges [1][5] Traditional Domestic Brands Performance - Major traditional automakers like SAIC, Geely, and Chery reported over 20% year-on-year sales growth in January 2026, with SAIC leading the market [2][3] - SAIC sold 327,400 vehicles in January, a 23.9% increase year-on-year, with 214,000 units from its own brands, marking a 39.6% increase [2] - Geely's sales reached 270,200 units, a 1% year-on-year increase, with NEV sales contributing significantly [2] - Chery's sales totaled 200,300 units, with exports accounting for 119,600 units, a 48.1% increase year-on-year [3] - GAC Group saw a significant increase in sales, reaching 116,600 units, up 18.47% year-on-year, driven by its new energy and overseas sales [3] New Energy Vehicle Startups Challenges - In contrast, nine major NEV startups experienced a collective decline in sales, with month-on-month drops ranging from 21.2% to 47.0% [5][6] - Despite the downturn, some brands like NIO and Zeekr reported year-on-year growth exceeding 95% [6][7] - The decline in NEV sales is attributed to short-term factors such as policy changes and seasonal demand fluctuations [6][7] - The market is expected to stabilize post-policy transition, with a potential recovery in sales anticipated in February and March 2026 [7] Market Dynamics and Future Outlook - The automotive industry is witnessing a restructuring of brand rankings, with traditional brands solidifying their positions while new entrants face increasing competition [1][5] - The long-term growth logic of the NEV sector remains intact, with expectations for a gradual recovery as new products are launched and market conditions improve [7]

证券代码：600104 证券简称：上汽集团（600104） 公告编号：临2026－005 上海汽车集团股份有限公司 2026年1月份产销快报 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 上海汽车集团股份有限公司2026年1月份产销快报数据如下： ■ 注1：上表数据仅为公司产销快报数据，未经审计确认，具体数据以公司定期报告为准。 2026年2月3日 注2：上汽大通汽车有限公司产销数据包含跃进品牌。 注3：其他主要含上海申沃客车有限公司、上汽红岩汽车有限公司、南京依维柯汽车有限公司等。 上海汽车集团股份有限公司董事会 ...

截至2月2日，国内主流车企2026年1月产销数据陆续披露。整体市场呈现"传统自主强势领跑、新势力普 遍承压"的鲜明格局：上汽、吉利、奇瑞等头部车企销量同比多实现20%以上增长，自主品牌座次因新 能源与出口表现差异出现重构。 1月传统自主车企集团凭借完善的产品矩阵与全球化布局，交出亮眼成绩单，头部阵营座次因各板块增 长动能差异出现显著调整。 具体来看，上汽集团（600104）延续领跑态势，1月实现整车批售32.74万辆，同比增长23.9%，终端零 售36.3万辆，批发与零售双双领跑行业。分板块来看，自主品牌表现尤为突出，销量达21.4万辆，同比 增长39.6%，占集团总销量比重升至65.3%。 其中，上汽乘用车销售7.7万辆，同比增幅达53.8%；上汽通用五菱销售10.5万辆，同比增长37%。新能 源与海外市场成为核心增长引擎，1月新能源汽车销量8.5万辆，同比增长39.7%；海外销量10.5万辆， 同比增长51.7%，仅MG品牌在欧洲市场就交付近2.6万辆，同比增长15%。 吉利汽车以27.02万辆的销量位居次席，同比增长1%，环比增长14%，新能源业务成为重要支撑。1月新 能源汽车销量达12.43万辆，同比 ...

截至2月2日，国内主流车企2026年1月产销数据陆续披露。整体市场呈现"传统自主强势领跑、新势力普 遍承压"的鲜明格局：上汽、吉利、奇瑞等头部车企销量同比多实现20%以上增长，自主品牌座次因新 能源与出口表现差异出现重构。 与此同时，9家主流造车新势力则遭遇集体环比下滑。业内分析指出，短期政策切换、淡季效应等因素 扰动终端，但自主车企核心竞争力持续提升，新势力"马太效应"加剧，行业高质量发展的长期逻辑未 变。 ● 本报记者 龚梦泽 自主品牌座次重构 奇瑞集团凭借出口优势跃居前列，1月销售汽车20.03万辆，其中出口11.96万辆，同比增长48.1%，连续 9个月出口突破10万辆。新能源板块同样稳步推进，1月销量5.21万辆，形成"出口+新能源"双轮驱动格 局。旗下主要品牌中，奇瑞品牌销量13.56万辆，捷途品牌4.27万辆，星途、iCAR、智界品牌分别销售 5276辆、3419辆、4506辆，产品矩阵覆盖从主流到高端的全细分市场。 广汽集团自主板块爆发式增长，推动整体销量达11.66万辆，同比增长18.47%。这是昊铂埃安BU和传祺 BU完成组建后首次披露月度销量，成效立竿见影：昊铂埃安BU销量超2.16万辆 ...

证券代码：600104 证券简称：上汽集团 公告编号：临2026－005 注1：上表数据仅为公司产销快报数据，未经审计确认，具体数据以公司定期报告为准。 注2：上汽大通汽车有限公司产销数据包含跃进品牌。 注3：其他主要含上海申沃客车有限公司、上汽红岩汽车有限公司、南京依维柯汽车有限公司等。 上海汽车集团股份有限公司 董事会 2026年2月3日 上海汽车集团股份有限公司2026年1月份产销快报 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 上海汽车集团股份有限公司2026年1月份产销快报数据如下： ■ ...

Core Viewpoint - Shanghai Yizhong reported a significant increase in net profit for 2025, driven by the inclusion of its core product in the national medical insurance directory and increased R&D investments [2]. Group 1: Company Performance - Shanghai Yizhong's total revenue for 2025 reached approximately 317.08 million yuan, a year-on-year increase of 82.72%, with net profit soaring by 819.42% to about 64.13 million yuan [2]. - Chipway Technology achieved a revenue of 394 million yuan in 2025, reflecting an 11.52% increase, while net profit decreased by 4.91% to 10.6 million yuan [5]. Group 2: Share Buybacks - XGIMI Technology plans to repurchase shares with a total fund of no less than 50 million yuan and no more than 100 million yuan, at a price not exceeding 159.51 yuan per share [3]. - Lexin Technology also intends to repurchase shares with a similar financial commitment, with a maximum price of 170.29 yuan per share [3]. Group 3: Risk Warnings - ST Kaiyuan anticipates a potential delisting risk warning due to expected negative net assets for 2025 [4]. Group 4: Important Investments - Aorui Technology's subsidiary plans to invest approximately 145 million yuan in computing power equipment [7]. - ZTE Corporation intends to invest 117 million yuan in a fund focused on new generation information technology and advanced manufacturing [10]. - Dawn Holdings is set to acquire a plastic and engineering plastic compound business in Vietnam for approximately 15.74 million USD [11]. Group 5: New Projects and Developments - Guangdong Electric Power A announced the successful commissioning of its Maoming Bohua Power Plant, with a total investment of 7.48 billion yuan and an expected annual power generation of 8.6 billion kWh [12]. - Ugreen Technology has submitted an application for H-share listing on the Hong Kong Stock Exchange [12].

2026年1月，在政策切换与年终促销透支的双重作用下，国内车市经历深度调整。 据乘联分会初步推算，1月狭义乘用车零售市场规模约为180万辆，环比下降20.4%，同比微增0.3%。多家传统车 企和造车新品牌发布的销量数据也显示，今年1月汽车市场整体呈现销量环比下滑、同比上扬的局面。 上汽集团1月销量达32.74万辆，同比增长23.94%，为当月销量规模最高的车企。 吉利汽车集团1月乘用车销量达27.02万辆，同比增长1.29%，环比增长14.08%，成为目前唯一实现同环比正增长的 企业。 比亚迪1月销量国内下滑、海外增长。当月总销量约21万辆，其中海外市场销量超10万辆，同比增长51.47%。海 外市场的快速拓展正成为比亚迪重要的增长引擎。比亚迪品牌及公关部门总经理李云飞年初透露，公司计划在 2026年向中国以外地区销售130万辆汽车。 （文章来源：新京报） 新势力车企中，小米汽车1月交付量超3.9万辆，首次超越零跑汽车。赛力斯、极氪、蔚来1月销量同比分别增长 104.85%、99.7%和96.08%，成为当月表现亮眼的高增长梯队。 吉利汽车集团 14.08% 270167 1% 比亚迪 210051 -30. ...

Core Insights - The domestic automotive market in January 2026 experienced a significant adjustment due to policy changes and year-end promotions, with a retail market size of approximately 1.8 million vehicles, reflecting a month-on-month decline of 20.4% but a slight year-on-year increase of 0.3% [1] Group 1: Traditional Automakers - SAIC Motor Corporation achieved sales of 327,400 vehicles in January, marking a year-on-year increase of 23.94%, making it the top-selling automaker for the month [1] - Geely Automobile Group reported sales of 270,200 vehicles, with a year-on-year growth of 1.29% and a month-on-month increase of 14.08%, being the only company to show positive growth in both metrics [1] - BYD's total sales reached approximately 210,000 vehicles, with domestic sales declining but overseas sales exceeding 100,000 vehicles, reflecting a year-on-year growth of 51.47% [1] - Chery Group's total sales across five brands exceeded 200,000 vehicles, showing a year-on-year decline of 10.7% [2] - GAC Group's sales were 116,600 vehicles, with a year-on-year increase of 18.47% [2] - Great Wall Motors sold over 90,300 vehicles, achieving a year-on-year growth of 11.59% [2] Group 2: New Energy and Emerging Automakers - Xiaomi Automobile delivered over 39,000 vehicles in January, surpassing Leap Motor for the first time [2] - Emerging automakers such as Seres, Zeekr, and NIO reported year-on-year sales growth of 104.85%, 99.7%, and 96.08% respectively, indicating strong performance in the high-growth segment [2] - The sales data for several new energy vehicle companies showed significant fluctuations, with some experiencing declines while others achieved substantial growth [4]

2026年1月，在政策切换与年终促销透支的双重作用下，国内车市经历深度调整。 据乘联分会初步推算，1月狭义乘用车零售市场规模约为180万辆，环比下降20.4%，同比微增0.3%。多家传统车企和造车新品牌发布的销量数据也显示，今 年1月汽车市场整体呈现销量环比下滑、同比上扬的局面。 上汽集团1月销量达32.74万辆，同比增长23.94%，为当月销量规模最高的车企。 吉利汽车集团1月乘用车销量达27.02万辆，同比增长1.29%，环比增长14.08%，成为目前唯一实现同环比正增长的企业。 比亚迪1月销量国内下滑、海外增长。当月总销量约21万辆，其中海外市场销量超10万辆，同比增长51.47%。海外市场的快速拓展正成为比亚迪重要的增长 引擎。比亚迪品牌及公关部门总经理李云飞年初透露，公司计划在2026年向中国以外地区销售130万辆汽车。 新京报 业 贝壳财经 统筹 廖爱玲 6家自主车企2026年1月销量(辆) 0 O 上汽集团 SAIC 吉利汽车集团 比亚迪 奇瑞集团 *汽集团 长城汽车 部分新势力车企2026年1月销量(辆) ● O 赛力斯 小米 0 零跑 理想 (含乐道、萤火虫品牌) 蔚来 极氪 小鹏 岚图 . ...

Group 1: Overall Market Performance - In January 2026, major domestic automotive groups reported strong sales performance, with several companies achieving year-on-year growth in sales [2][5][19] - SAIC Motor Corporation sold 327,413 vehicles in January, marking a 23.9% increase year-on-year [5] - Geely Automobile's sales reached 270,167 units, a 1% increase year-on-year, with a 14% month-on-month growth [8] Group 2: Brand-Specific Performance - SAIC's self-owned brands accounted for 65.3% of total sales, with a 39.6% increase in sales of self-owned brands [5] - Geely's new energy vehicle sales reached 124,252 units, representing 46% of total sales, with a year-on-year growth of approximately 3% [8][9] - BYD's total new energy vehicle sales were 210,051 units, a decline of 30.11% year-on-year, but overseas sales surged by 51.47% [12] Group 3: Export and Overseas Market Growth - Chery Group maintained its position as the top exporter of Chinese automobiles, with exports reaching 119,605 units, a year-on-year increase of 48.1% [15] - SAIC's overseas sales reached 105,000 units, a 51.7% increase year-on-year, highlighting the growing importance of international markets [6] - BYD's overseas market expansion is becoming a significant growth driver, with nearly half of its total sales coming from exports [12] Group 4: Future Outlook and Strategies - Geely plans to launch 1-2 new products each quarter in 2026, aiming for an annual sales target of 3.45 million units [9] - GAC Group has set ambitious overseas sales targets for 2026, aiming for 250,000 units, with a goal of reaching 100,000 units in the Asia-Pacific market by 2027 [19] - Dongfeng Motor plans to introduce five new models in 2026 to support its growth in the new energy sector [24]