问界M6计划于明年二季度上市，预计将主打25万元家用SUV市场。动力形式与问界其他车型一致，将 同时提供增程版和纯电版。一位接近赛力斯的人士表示，"问界M6不会取代问界M5，未来问界M5仍会 继续迭代。"（晚点Auto） ...

Core Insights - The article discusses the upcoming launch of the AITO M6, which is expected to target the 250,000 yuan family SUV market, offering both range-extended and pure electric versions [5] - AITO's M9 and M9L models will also be launched next year, expanding the product lineup to cover the 200,000 to 500,000 yuan price range [7] - The competitive landscape includes models like Li Auto i6, Tesla Model Y, and Xiaomi YU7, which overlap in pricing and features with the M6 [6] Product Launch and Market Positioning - AITO M6 is set to launch in Q2 next year, maintaining the existing M5 model without replacement [5] - The M9 and M8 models are positioned as luxury SUVs, with the M9 achieving over 49,000 units sold in October, although sales have declined compared to last year [7][8] - The M7 model, once a top seller, has seen a significant drop in sales, now averaging around 5,000 units per month [8] Competitive Analysis - The M6 will face stiff competition in the 200,000 to 300,000 yuan segment, which has seen 18 new mid-to-large SUVs launched in the last three months [8] - The M5's sales have been weak, with a peak of 7,000 units per month dropping to under 3,000 units recently, indicating challenges in maintaining market interest [8] - Other competitors like the Zhiji R7 and Lantu FREE are also positioned in the same price range, further intensifying competition [7][9] Sales Performance - AITO's M9 has experienced a decline in sales since May, with October sales dropping to 8,000 units, half of the previous year's figures [7] - The M7's price increase to 279,800 yuan has shifted it into a more competitive bracket, potentially affecting the M6's pricing strategy [8] - The overall performance of AITO's models in the mid-range market will significantly impact the brand's annual sales figures [9]

Core Insights - The article discusses the upcoming launch of the Wanjie M6 in Q2 next year, targeting the 250,000 yuan family SUV market, with both range-extended and pure electric versions available [3] - Wanjie plans to expand its product lineup with the M9 facelift and the long-wheelbase M9L, aiming to strengthen its presence in the luxury SUV market [4] - The sales performance of Wanjie models, particularly the M9 and M7, has shown a decline, indicating increased competition in the luxury and mid-range SUV segments [5][6] Product Launch and Market Positioning - Wanjie M6 is set to launch in Q2 next year, focusing on the 250,000 yuan family SUV segment, with both range-extended and pure electric versions [3] - The M9 and M8 are positioned as luxury SUVs, with the M9 being a "panoramic smart flagship SUV" and the M8 as a "family smart flagship SUV" [4] - The product lineup will cover a price range of 200,000 to 500,000 yuan, enhancing Wanjie's market coverage [4] Sales Performance and Competition - In October, Wanjie sold 49,000 vehicles, with the flagship models contributing significantly to the average selling price and profit [4] - The M9's sales have been declining since May, with October sales dropping to 8,000 units, a 50% year-on-year decrease [5] - The M7, once a top seller in its price range, has seen a significant drop in sales, maintaining around 5,000 units per month in the first three quarters of the year [5][6] Competitive Landscape - The M6 faces competition from models like the Li Auto i6, Tesla Model Y, and Xiaomi YU7, which have distinct advantages in space, range, and design [4] - The M5's competitiveness is waning, with sales dropping below 3,000 units in October, despite its initial success [6] - The overall market for mid-range SUVs is becoming increasingly competitive, with numerous new models entering the segment [5][6]

| 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 601238 广汽集团 | | 2.59 亿 ﺔ | 42.00% | -1.54 Z | -25.02% | -1.05 Z | -16.99% | | 002594 比亚迪 | | 1.89 Z | 6.17% | -5619.76万 | -1.83% | -1.33 Z | -4.34% | | 600733 北汽蓝谷 | | 8458.85万 | 12.57% | -2522.84万 | -3.75% | -5936.01万 | -8.82% | | 600104 上汽集团 | | 4265.49万 | 6.97% | -2579.32万 | -4.22% | -1686.18万 | -2.76% | | 601127 赛力斯 | | 3292.94万 | 1.09% | 1371.13万 | 0.45% | -4664.08万 | -1.54% | | 00 ...

每经记者｜曾剑 每经编辑｜魏官红 7月1日晚间，埃斯顿（002747,SZ）发布了定增发行情况报告书，公司此次向7名认购对象发行了 2839.29万股股份。在认购对象中，摩根大通银行协会、摩根士丹利国际、安联环球投资新加坡有限公 司（以下简称安联新加坡）等多家QFII/RQFII在列，成为公司这场定增的重要参与者。 整体浮盈颇丰 一位私募人士向《每日经济新闻》记者表示，此前，中国证监会、中国人民银行、国家外汇管理局发布 《合格境外机构投资者和人民币合格境外机构投资者境内证券期货投资管理办法》（以下简称《办 法》）。《办法》进一步降低了QFII、RQFII的投资准入门槛，便利投资运作，扩大了投资范围。在他 看来，这些相关政策的出台对于拉动外资流入A股市场，提升投资积极性助力显著。 QFII/RQFII频繁参与定增认购 据埃斯顿披露，摩根大通银行协会、摩根士丹利国际、安联新加坡此番分别获配公司股份464.29万股、 460.29万股、46.86万股，获配金额分别为1.3亿元、1.29亿元和1312.01万元。此次定增，埃斯顿的募资 总额为7.95亿元。显然，QFII方面的贡献不小。 埃斯顿的定增情况其实只是一个缩 ...

行情回顾 同花顺数据显示，上周（11月17日-11月21日，下同），新能源汽车指数（885431.TI）周内下跌7.25%，跑输沪深300指数3.48%。其中，汽车相关板块中表 现最好的是电机Ⅲ指数（884085.TI），周跌幅为6.30%。新能源车电池相关板块中表现最好的是充电桩指数（885461.TI），周跌幅为7.86%。 1.新能源汽车相关板块一周行情梳理 2.上市公司一周（11月17日-11月21日）行情梳理 新能源整车 | 代码 | 证券名称 | 收盘价(元) | | --- | --- | --- | | 600418.SH | 江淮汽车 | 48.26 | | 601238.SH | 广汽集团 | 7.6 | | 600733.SH | 北汽蓝谷 | 7.66 | | 000625.SZ | 长安汽车 | 11.79 | | 601633.SH | 长城汽车 | 21.62 | | 002594.SZ | 比亚迪 | 92.7 | | 601127.SH | 赛力斯 | 123.4 | | 000572.SZ | 海马汽车 | 9.45 | 电机电控 | 代码 | 证券名称 | 收盘价(元) ...

展台的持续火爆与行业大佬的盛赞，共同印证了问界M9在高端市场的绝对竞争力，更彰显了中国品牌 高端化的强劲势能。 作为稳坐全场C位的高端新能源领军车型，问界M9全系累计交付突破26万辆，创50万元级车型交付新 纪录。更斩获2024年新能源SUV车型净推荐值第一 、2024年混动大型SUV用户满意度第一 、2024年中 国新能源SUV保值率第一等成绩。凭借其科技配置、豪华体验和市场表现，问界M9已成为中国豪华电 动车领域的标杆。 11月23日，比亚迪董事长王传福带领一众高管现身广州车展问界展台，深度体验问界M9，为本就人山 人海的问界展台再添人气。 ...

作为赛力斯与华为联合打造的科技旗舰，问界M9全系累计交付突破26万辆，创50万元级车型交付新纪录；问界M8累计交付突破13万辆，蝉联40万级销 量冠军；全新问界M7，短短41天大定订单便突破9万台，全系累计交付已突破35万辆。 11月21日，问界全系产品及赛力斯最新技术成果：魔方技术平台2.0亮相广州车展，该平台以全景智慧为引领，以智能安全为底座，对智慧能源、智能 底盘、EEA架构和智慧空间进行了全新升级，是一个面向AI驱动的智慧电动汽车平台。 本届车展，问界创下其参展史上的规模与阵容之最。问界M9、问界M8、全新问界M7及问界新M5均同台展出。 车展现场还展示了多项最新的技术成果，包括在国内车展首次亮相的2.0T增程器和14合一超大集成增程系统，在集成化、NVH控制和能效表现上再攀 高峰，全面彰显赛力斯在增程技术领域的领先地位。 截至目前，问界已得到90万用户的信任，智能增程电动行驶总里程超214亿公里，纯电行驶里程占比达70%，辅助驾驶总里程已超过44.5亿公里，辅助 泊车激活次数达到2.8亿次。 在服务层面，问界构建了覆盖售前、交付与售后的智慧服务体系，累计完成主动服务关怀26.6万次，通过远程诊断为用 ...

Investment Rating - The report maintains a "Buy" rating for the automotive sector, anticipating a bottoming and upward trend in Q1 2026 [1]. Core Insights - The automotive sector is currently experiencing a cooling sentiment due to the impact of trade-in quotas, with October retail sales falling below expectations and November expected to perform moderately. The fourth quarter is also anticipated to underperform previous market expectations. However, the sector is expected to find a bottom and begin to rise in Q1 2026, presenting potential investment opportunities for the upcoming year [1][2]. Data Tracking - In early November, the discount rate for vehicles increased to 10.0%, up by 0.4 percentage points month-on-month and 1.5 percentage points year-on-year. The average discount amount rose by 23,103 yuan, with significant fluctuations among major brands [3]. - In October, new energy vehicle deliveries from leading companies showed a notable increase for BYD, which delivered 442,000 units, a month-on-month increase of 11.5% but a year-on-year decrease of 12.1%. Other companies like Leap Motor and Xpeng also reported significant year-on-year growth [3][20]. - Traditional automakers also saw growth in October, with Geely's sales reaching 307,000 units, a year-on-year increase of 35.0% and a month-on-month increase of 12.5% [3][23]. Industry News - The report highlights several key developments in the automotive industry, including the launch of new models and significant sales figures for new energy vehicles. For instance, from November 1 to 16, the retail sales of new energy vehicles reached 554,000 units, a year-on-year increase of 2% [30][31]. - The report also notes the introduction of advanced technologies in new models, such as the Deep Blue L06 and the Xiaopeng X9, which feature cutting-edge battery systems and autonomous driving capabilities [30][31].

Core Insights - The release of the Cyrus Magic Cube Technology Platform 2.0 marks a significant upgrade in the company's technology system, aiming to establish itself as a leading brand in high-end and intelligent vehicles in China [1][3] - The platform emphasizes AI-driven smart electric vehicles, enhancing features such as smart energy, intelligent chassis, EEA architecture, and smart space [1] - Since its collaboration with Huawei in 2021, the company has developed advanced smart technologies, including the Qian Kun intelligent driving and Harmony cockpit, enhancing vehicle connectivity and AI capabilities [2] Group 1 - The Magic Cube Technology Platform 2.0 is designed to create a more emotional, intelligent, safe, and reliable mobile companion for users [1] - The cumulative delivery of the AITO series vehicles has surpassed 900,000 units, indicating strong market acceptance [1] - The company has established a solid technological moat through innovations like the Magic Cube Technology Platform and Super Range Extension technology [3] Group 2 - The company raised a net amount of HKD 14.016 billion through its IPO on the Hong Kong Stock Exchange, with approximately 70% of the funds allocated for research and development [3] - The AI-enabled smart range extension technology solution integrates high-pressure architecture for optimal vehicle performance and efficiency [2] - The company aims to lead the luxury new energy vehicle sector and drive higher quality development in the Chinese automotive industry [3]