（编辑 任世碧） 证券日报网讯 1月23日，赛力斯发布公告称，本次减持股份计划实施前，公司非执行董事周昌玲先生持 有公司1，000股，约占公司总股本的0.000057%。公司于2025年12月6日披露了《非执行董事减持股份 计划公告》（公告编号：2025-099）。截至本公告披露日，周昌玲先生通过集中竞价方式已减持公司股 份1，000股，减持计划实施完毕。 ...

每经AI快讯，1月23日，赛力斯公告，公司非执行董事周昌玲于2026年1月22日通过集中竞价方式减持 公司股份1000股，占公司总股本的0.000057%，减持计划已实施完毕。 每经AI快讯，1月23日，赛力斯公告，公司非执行董事周昌玲于2026年1月22日通过集中竞价方式减持 公司股份1000股，占公司总股本的0.000057%，减持计划已实施完毕。 ...

Core Insights - The milestone of producing the 1 millionth vehicle, the AITO Wenjie M9, signifies a successful cross-industry integration strategy by Seres Group, emphasizing high-end electric vehicles and collaboration with Huawei [1][7] - The average selling price of the vehicles exceeds 350,000 yuan, positioning Seres as one of the few profitable companies in the Chinese new energy vehicle sector [1][9] Group 1: Strategic Vision - Zhang Xinghai, the chairman of Seres, attributes the company's rapid growth to national industrial policies and identifies "high-end" and "cross-industry integration" as key components of their strategy [1][7] - The first five years focused on electric vehicle development, while the subsequent five years initiated a deep collaboration with Huawei, leveraging each other's strengths without forming a joint venture [2][9] Group 2: Market Performance - The company achieved the production of 1 million vehicles in just 46 months, with a significant average price point, demonstrating the effectiveness of their strategic approach [2][9] - The partnership with Huawei is characterized by a comprehensive integration of product definition, technology development, and brand marketing, moving beyond traditional supply chain cooperation [9] Group 3: User-Centric Approach - The core philosophy of the company revolves around delivering user value, with a commitment to continuous improvement based on user feedback [4][11] - Over the past two years, thousands of user suggestions have been collected and implemented, leading to high user satisfaction and a recommendation rate exceeding 40% [5][11] Group 4: Future Aspirations - The company aims to leverage AI to evolve vehicles into "emotional, smarter, safer, and more trustworthy mobile intelligent entities," indicating a shift towards emotional connection and intelligent coexistence [12] - Looking ahead, Seres plans to expand its global market presence, aspiring to position the Wenjie brand as a representative of Chinese high-end intelligent electric vehicles on the world stage [6][13]

赛力斯公告称，非执行董事周昌玲减持股份计划实施完毕。本次减持前，周昌玲持有公司1000股，占总 股本的0.000057%，股份为集中竞价交易取得的无限售流通股。2026年1月22日，周昌玲通过集中竞价 方式减持1000股，减持价格为115.18元/股，减持总金额11.52万元。减持后，其不再持有公司股份。 ...

南财智讯1月23日电，赛力斯公告，公司非执行董事周昌玲于2026年1月22日通过集中竞价方式减持公司 股份1,000股，占公司总股本的0.000057%，减持计划已实施完毕。 ...

Core Viewpoint - The passenger car sector experienced a slight increase of 0.49% on January 23, with Beijing Blue Valley leading the gains. The Shanghai Composite Index closed at 4136.16, up 0.33%, while the Shenzhen Component Index closed at 14439.66, up 0.79% [1]. Group 1: Market Performance - Beijing Blue Valley (600733) closed at 8.45, up 3.17% with a trading volume of 1.565 million shares and a transaction value of 1.311 billion yuan [1]. - Haima Automobile (000572) closed at 7.32, up 2.52% with a trading volume of 832,500 shares and a transaction value of 606 million yuan [1]. - Seres (601127) closed at 118.00, up 2.50% with a trading volume of 334,700 shares and a transaction value of 3.903 billion yuan [1]. - GAC Group (601238) closed at 8.35, up 1.71% with a trading volume of 448,400 shares and a transaction value of 372 million yuan [1]. - Changan Automobile (000625) closed at 11.70, up 0.78% with a trading volume of 908,200 shares and a transaction value of 1.059 billion yuan [1]. - Great Wall Motors (601633) closed at 21.59, up 0.42% with a trading volume of 186,000 shares and a transaction value of 400 million yuan [1]. - BYD (002594) closed at 93.65, down 0.50% with a trading volume of 383,300 shares and a transaction value of 3.598 billion yuan [1]. - SAIC Motor (600104) closed at 14.82, down 0.94% with a trading volume of 1.853 million shares and a transaction value of 2.758 billion yuan [1]. Group 2: Fund Flow Analysis - The passenger car sector saw a net outflow of 1.147 billion yuan from institutional investors, while retail investors contributed a net inflow of 718 million yuan [1]. - The main fund inflow for Seres (601127) was 118 million yuan, accounting for 3.02% of the total, while retail investors had a net outflow of 11.6 million yuan [2]. - Beijing Blue Valley (600733) had a main fund inflow of 108 million yuan, representing 8.26% of the total, with retail investors contributing a net inflow of 35.217 million yuan [2]. - Changan Automobile (000625) experienced a main fund inflow of 43.554 million yuan, accounting for 4.11%, while retail investors had a net inflow of 19.761 million yuan [2]. - Haima Automobile (000572) saw a main fund inflow of 26.734 million yuan, representing 4.41%, with a retail net outflow of 9.9696 million yuan [2]. - GAC Group (601238) had a main fund inflow of 18.375 million yuan, accounting for 4.94%, while retail investors experienced a net outflow of 26.513 million yuan [2]. - Great Wall Motors (601633) had a main fund inflow of 12.320 million yuan, representing 3.08%, with a retail net outflow of 35.988 million yuan [2]. - BYD (002594) experienced a significant net outflow of 686 million yuan from institutional investors, while retail investors had a net inflow of 51 million yuan [2]. - SAIC Motor (600104) faced a substantial net outflow of 788 million yuan from institutional investors, while retail investors had a net inflow of 34.2 million yuan [2].

Investment Rating - The industry investment rating is "Overweight," indicating a positive outlook for the automotive sector compared to the overall market performance [12]. Core Insights - The automotive industry is gradually returning to its profit center, with a strong focus on overseas expansion [1]. - In Q4 2025, total vehicle production and sales reached 10.186 million and 10.023 million units, respectively, showing year-on-year increases of 3.9% and 1.7% [4]. - Domestic retail share of independent brands reached 66.9%, up 3.2 percentage points year-on-year, while wholesale of new energy passenger vehicles increased by 13.2% year-on-year [4]. - The average industry discount rate decreased by 1.33 percentage points to 12.28% in Q4 2025, indicating reduced terminal discounts [4]. - Traditional raw material prices saw a decline, while new energy raw material prices increased, impacting supply chain profitability [4]. Summary by Sections Vehicle Production and Sales - In Q4 2025, passenger vehicle production and sales were 9.018 million and 8.845 million units, with year-on-year changes of +2.2% and -0.3% respectively [4]. - Commercial vehicle production and sales reached 1.168 million and 1.178 million units, with year-on-year increases of +19.4% and +20.0% [4]. - Exports of vehicles in Q4 2025 totaled 2.147 million units, a significant year-on-year increase of 39.8%, with new energy vehicles showing remarkable growth [4]. Market Dynamics - The report highlights the leading position of independent brands in the market, with a notable increase in new energy vehicle sales [4]. - The report notes a divergence in profitability among automakers due to varying new vehicle release schedules and the suspension of trade-in subsidies [4]. Profit Forecasts - The report provides profit forecasts for key automotive companies, indicating significant growth for companies like Jifeng and Dongfang, while others like BYD and Li Auto are expected to see declines [6][8]. - Specific profit growth rates for Q4 2025 show a wide range, with some companies experiencing over 600% growth, while others face substantial losses [6]. Investment Recommendations - The report suggests focusing on companies benefiting from AI integration and overseas business support, such as BYD and Geely [4]. - It also emphasizes the importance of companies with strong performance in the supply chain, particularly in the context of rising raw material prices [4].

本文源自：金融界AI电报 港股市场智能驾驶概念股走强，其中，浙江世宝涨超11%，图达通涨超8%，小马智行-W涨超6%，文远 知行-W涨超5%，佑驾创新涨超4%，赛力斯涨超3%，地平线机器人-W涨超2%。 ...

问界仅用46个月实现从0到100万的跨越，刷新了多项行业纪录，对此张兴海坦言： "没有国家的汽车政 策支持，其实没有我们的今天。" "十年前我们就洞察到，中国乃至全球已经不缺汽车的产销量，缺的是智能电动高端车，我们要造就造 高端电动车。"张兴海表示，怀揣着造高端电动车的初心，赛力斯第一个五年主攻电动化转型；随后的 第二个五年，赛力斯与华为携手，开创了整车企业与ICT企业跨界融合的行业先河，在这种新模式之 下，双方充分互信，发挥各自的长板效应，共同推出问界这一如今市场认可、用户喜爱的高端新能源汽 车品牌。 近日，在问界达成100万辆整车下线之际，赛力斯集团董事长（创始人）张兴海做客央视《微对话》节 目，围绕中国新能源汽车产业的创新突破，与主持人陈伟鸿深度交流。张兴海表示，在国家政策支持 下，中国新能源产业不断发展，实现全球领先。赛力斯锚定高端智能电动汽车主航道，以跨界融合的新 模式实现了问界的跨越式发展。未来赛力斯将坚持软件定义汽车的技术路线，以AI驱动技术和产品升 级，力争两年内实现问界第二个100万辆下线，把中国的高端新能源汽车带向全球。 怀揣高端初心 开创跨界融合新模式 正是这种前瞻判断与开放协作，让问界 ...

Core Viewpoint - The event "China Manufacturing Enterprises Media Meeting" highlighted the achievements of China's manufacturing sector, particularly in the context of the "14th Five-Year Plan," showcasing the integration of advanced technologies in manufacturing and the rise of the new energy vehicle (NEV) industry [1][10]. Group 1: Achievements in the NEV Sector - The AITO M9, a product of Seres Group and Huawei's collaboration, was featured alongside major national projects, emphasizing the recognition of both the brand and the Chinese NEV industry [3]. - The AITO brand has successfully positioned itself in the luxury market, with the M9 leading sales in the 500,000 yuan luxury car segment, demonstrating the capability of domestic brands to compete with international luxury brands [6]. Group 2: Strategic Focus and Innovation - Seres Group is committed to a strategy of "smart redefinition of luxury," aiming to meet consumer demands for both intelligence and luxury in vehicles, which has led to the launch of four models that have gained market acceptance [4]. - The company is integrating artificial intelligence (AI) across its entire value chain, from R&D to sales and service, to enhance operational efficiency and innovation [7]. Group 3: Future Outlook and Market Position - By 2025, China's NEV production and sales are projected to exceed 16 million units, maintaining its position as the global leader for 11 consecutive years, supported by national policies and user recognition [9]. - The milestone of producing one million units of the AITO brand marks a significant step in Seres' high-end strategy, with plans to continue aligning with national policies to enhance product quality and user experience [9].