这种"活型造车术"的创新之处，在于构建了"硬件可拆、软件可配、AI懂你"的全新模式。平台采用 结构树分解方式，形成49个核心模块、329个共用组件的硬件资源池，搭配基于SOA架构的2000多个标 准化原子能力标签，如同活字印刷的"字库"与"排版术"，让AI能根据全球不同市场的能源结构、路况特 征和用户需求，灵活组合出多样化的出行方案。从轿车到跑车，从纯电到氢能，归元平台以"一车多动 力、一车多品类、一车多姿态"的强大兼容性，真正实现"一套架构，全域兼容"。 三大技术革命，定义全球出行新标杆 1月16日，一场跨越千年的文化与科技对话在浙江瑞安东源村与河北保定长城汽车技术中心同步上 演。作为中国木活字印刷术的活态传承地，瑞安东源村见证了长城汽车以"致敬活字印刷术"为序章，正 式发布"全球首个原生AI全动力汽车平台"——归元平台。在千年匠心与当代科技的碰撞中，归元平台揭 开了长城汽车向"本源"回归、向"全球"进阶的全新篇章。 活字智慧赋能，归元平台重构造车逻辑 "活字是'化繁为简'的印刷术，归元是'返璞归真'的造车术。"长城汽车董事长魏建军在发布会上的 诠释，点明了归元平台的灵感内核。中国古代四大发明之一的活字印刷 ...

Group 1 - The passenger car sector increased by 0.68% on January 19, with Haima Automobile leading the gains [1] - The Shanghai Composite Index closed at 4114.0, up 0.29%, while the Shenzhen Component Index closed at 14294.05, up 0.09% [1] - Key stocks in the passenger car sector showed varied performance, with notable increases in stocks like Haima Automobile (3.48%) and SAIC Motor (1.73%) [1] Group 2 - The net inflow of main funds in the passenger car sector was 63.56 million yuan, while retail investors experienced a net outflow of 45.99 million yuan [1] - Haima Automobile had a significant main fund net inflow of 73.46 million yuan, while retail investors saw a net outflow of 86.47 million yuan [2] - BYD experienced a net outflow of 88.17 million yuan from main funds, indicating a negative trend in investor sentiment [2]

中国汽车工业飞速发展，新能源汽车市场渗透率持续攀升，行业竞争开始进入 "架构博弈"的关键 阶段。长城汽车凝聚多年造车积淀与全产业链技术储备，正式发布全球首个原生AI全动力平台 ——归元平台。这一平台借鉴"活字印刷"智慧，以全动力兼容、原生AI赋能、全栈自研为核心 优势，破解用户用车痛点，重塑了汽车产业竞争逻辑，并为中国汽车从"规模领先"向"价值引 领"转型注入了关键动力。 架构革新，构建全场景适配能力 中国汽车工业技术发展速度值得肯定，但诸多车企在架构打造方面喜欢 "随大流"，动力形式 碎片化、智能功能割裂、研发周期冗长等现实情况，依然束缚着架构的进一步升级。长城此次 发布的归元平台以SOA为核心的底层革新，从根本上重构了汽车的技术逻辑。传统汽车"分布 式功能架构"下各系统壁垒森严、数据难以互通的局限，归元平台创新性地将整车颗粒化为 300多个可复用的功能单元，借鉴"活字印刷术"的古老智慧，通过全栈标准化的服务契约体 系，实现了跨车型自由调用、跨场景无缝协同。 归元平台被称为 "汽车界的活字印刷术"，主要是因为其底层逻辑与"活字印刷术"具有一定的 相通性。这一平台依托SOA架构构建底层语言，将原子化能力贴上2 ...

Core Insights - The Great Wall Motor's "Return to Origin" platform was launched on January 16, featuring core characteristics of "one vehicle with multiple powertrains, one vehicle with multiple categories, and one vehicle with multiple forms" [2] - The new flagship SUV from the Wey brand is expected to be named "Hujue," with an estimated length of nearly 5.3 meters and a 2+2+2 six-seat layout, incorporating ASL intelligent body and VLA large model technology [2] - The vehicle is anticipated to be equipped with an air suspension system, enhancing the technological feel and ride quality as a flagship model [2] - The powertrain is expected to include a plug-in hybrid system with a 2.0T engine, achieving a 0-100 km/h acceleration time of 4.4 seconds in full electric mode and 4.7 seconds in hybrid mode [2]

Core Insights - The rise of China's automotive industry brings both speed and hidden risks, with Great Wall Motors launching the Guiyuan platform to redefine the relationship between technological innovation and user value [1][4] - The Guiyuan platform innovates by breaking traditional mechanical thinking, creating the world's first native AI all-power platform, which allows for a modular approach to vehicle design [2][4] Technological Innovation - The Guiyuan platform features over 300 reusable functional units, akin to movable type in printing, enabling seamless collaboration across different vehicle models and scenarios [2][4] - The platform's architecture allows for a "disassemble, configure, and evolve" approach, emphasizing user experience and cultural relevance in automotive design [4][12] User Experience Enhancements - The platform addresses evolving consumer expectations by offering comprehensive adaptability across various driving scenarios, moving beyond the traditional utility of vehicles [5][6] - It supports five powertrain types: plug-in hybrid, intelligent hybrid, pure electric, efficient fuel, and hydrogen fuel, showcasing industry-leading capabilities [6][8] Performance and Efficiency - The platform includes advanced components such as an 800V high-voltage electrical architecture and a 2.0T efficient hybrid engine, achieving a WLTC comprehensive range of 1393 kilometers, the highest in its class globally [8][9] - The platform's design allows for rapid charging capabilities, alleviating range anxiety for users [8][9] Safety and Intelligence - The platform incorporates a Coffee EEA 4.0 electronic architecture, enhancing the vehicle's ability to predict risks and understand user emotions, thus improving safety [9][12] - It shifts safety strategies from passive to proactive, creating a comprehensive safety chain through innovative structural and battery safety measures [9][12] Commitment to User Value - The Guiyuan platform is designed to meet user expectations for reliability and cost-effectiveness, ensuring that users can trust their vehicle investments [12][13] - The platform's architecture reduces maintenance costs and enhances the resale value of vehicles, addressing user concerns about ownership expenses [12][13] Strategic Vision - The development of the Guiyuan platform is a result of Great Wall Motors' long-term commitment to self-research and a comprehensive industry chain approach, positioning the company as a leader in the transition from a manufacturing powerhouse to a manufacturing stronghold [13][15] - The platform represents a significant shift in the development philosophy of the Chinese automotive industry, reflecting a blend of cultural heritage and modern technological capabilities [15]

平台的核心技术能力围绕三大维度展开。在动力维度，归元平台实现了"一车多动力"，成为可全面兼容插电混动（PHEV）、混合动力（HEV）、纯电 动（BEV）、高效燃油（ICE）及氢燃料电池（FCEV）五种动力形式的整车平台。这种全动力兼容性，旨在尊重全球不同市场的能源结构、基础设施和用 户偏好，为长城汽车的全球化战略提供坚实的技术底座。 近日，长城汽车发布了全新的全球化智能整车平台——归元平台，并系统阐述了其核心价值与技术理念。该平台不仅标志着长城在整车架构领域的重大 突破，也体现了其从中国传统文化中汲取智慧，以系统性创新应对全球化与电动化挑战的发展思路。 归元平台的命名与核心理念，源自对中国古代四大发明之一"活字印刷术"的深刻理解。长城汽车董事长魏建军亲赴浙江瑞安探访木活字印刷技艺，他认 为，活字印刷通过将复杂的雕版解构为标准化的字模，再根据需求灵活组合，实现了效率与个性化的统一。这一"解构与重构"、"标准化与灵活组合"的东方 智慧，正是归元平台的设计哲学。平台旨在将汽车研发从传统的"雕版"式固定思维，转变为"活字"式的模块化、柔性化体系，构建"可拆、可配、可进化"的 底层架构，以更高效的方式响应全球市场的多元 ...

Core Viewpoint - The rise of China's automotive industry brings both speed and hidden risks, with Great Wall Motors launching the "Guiyuan" platform that aims to redefine the relationship between technological innovation and user value, embodying the company's commitment to "technology is inherently good" [1][12]. Group 1: Innovation and Technology - The Guiyuan platform innovates by breaking traditional mechanical thinking of "power + chassis + body," creating the world's first native AI all-power platform, likened to the "movable type printing" in the automotive industry [3][5]. - The platform decomposes the vehicle into over 300 reusable functional units, allowing for cross-model and cross-scenario collaboration through a standardized service contract system, enhancing user experience [3][5]. - The architecture of the Guiyuan platform is designed to be "removable, configurable, and evolvable," representing a unique "living car manufacturing technique" that transcends the single concept of a platform [5][13]. Group 2: User Experience and Value - The Guiyuan platform addresses evolving consumer expectations by offering comprehensive power coverage, including plug-in hybrid, intelligent hybrid, pure electric, efficient fuel, and hydrogen power, thus moving beyond the limitations of traditional vehicle power strategies [7][9]. - The platform features significant upgrades, such as the "Super Hi4" system, which includes an 800V high-voltage electrical architecture and a 2.0T efficient hybrid engine, achieving a WLTC comprehensive range of 1393 kilometers, the highest in its class globally [9][10]. - The platform's intelligent and safety upgrades utilize advanced electronic architectures and AI to enhance user interaction and safety, shifting from passive to proactive safety measures [10][12]. Group 3: Cost Efficiency and Sustainability - The Guiyuan platform is designed to meet user demands for cost-effective ownership, with a focus on reducing maintenance costs and increasing the resale value of vehicles through high reliability and low operational costs [12][15]. - The platform's development is rooted in a long-term strategy of self-research and full industry chain collaboration, positioning Great Wall Motors as a strong player in the transition from a manufacturing power to a manufacturing stronghold in the automotive sector [13][15]. Group 4: Cultural and Industry Impact - The launch of the Guiyuan platform signifies a profound innovation in the development philosophy of the Chinese automotive industry, reflecting the deep cultural heritage and manufacturing strength of China [15]. - The platform not only aims to enhance user experience but also serves as a new paradigm for innovation in the automotive industry, encouraging a shift away from blind imitation of Western technologies [5][15].

【懂车之道 产品】近日，懂车之道获悉，长城汽车全新归元平台首款SUV和伪装测试车谍照都相继曝光。懂车之道猜测，新车或是魏牌旗下全新旗舰 SUV车型，或命名为"琥爵"，将搭载2.0T插电混动系统，采用6座（2+2+2）座椅布局。下面，大家一起来看看新车的产品力如何？ 外观上，据悉，归元平台首款车型或具有大型SUV尺寸级别，结合魏牌全新SUV的路试谍照，我们看看新车的设计，采用全新的设计思路，和目前的魏 牌有较大的不同，新车预计采用封闭式格栅，不过，该位置覆盖着厚重的伪装，有可能有一些细节设计，有可能是灯组或者是装饰件。前包围上方搭配大 尺寸下进气格栅，新车车顶配备激光雷达，预计搭载VLA大模型智能辅助驾驶，我们可以参考蓝山车型所搭载的最新智驾系统。 内饰方面，此次新车并未曝光，智能化方面，有望搭载ASL智能体。 动力方面，或搭载2.0T发动机组成的插混系统，满电状态0-100km/h加速时间4.4S，馈电状态0-100km/h加速时间4.7S。基于800V混联架构，搭载混动6C电 池，实现纯电续航超过400km，充电5分钟续航200km；底盘方面，新车或采用双腔空气悬架。 此次的这款魏牌全新旗舰SUV，将作为归 ...

1月16日，长城汽车发布归元平台。归——回归；元——本源，归元平台是长城汽车以"第一性原理"， 坚定地选择"技术求真"，回归产业本源。新平台以"一车多动力、一车多品类、一车多姿态、一车多市 场"，抓住本质，化繁为简，让复杂的技术回归简单，让创新的价值直达用户。 全动力兼容能力，是归元平台最核心的技术突破。作为兼容PHEV、HEV、BEV、FCEV、ICE五大动力 形式的平台，它以"一套架构，全域适配"的实力，满足全球不同市场的能源结构与用户需求。 据介绍，归元平台的灵感来自于中华民族四大发明之一的"活字印刷术"，把印刷过程解构和重构，用可 重复使用的单字组合，实现了模块化、可组合、高效、高技艺的生产方式，实现了大幅度降低成本和时 间，同时为大规模的文化传播奠定了基础。归元则以用户的用车旅程阶段进行场景细化，打破了传统机 械思维，开辟全新路径，将硬件功能原子化、软件体验标签化、AI调度原生化，实现了从"雕版印刷"进 化为"活字印刷"。 硬件部分以结构树分解方式，划分为发动机、变速器、空气弹簧、电池等49个核心模块、329个共用组 件，合理拆分模块总成、规范模块间接口，实现平台的高度扩展性；这与古老的"活字印刷术 ...

Investment Rating - The report maintains a positive outlook for the automotive industry, expecting a rebound in vehicle sales in Q1 and focusing on investments in intelligent driving, robotics, and liquid cooling technologies [3]. Core Insights - The automotive sector is experiencing significant dynamics, including sales, pricing, exports, and robotics developments [2]. - The report highlights that January's early sales data shows a substantial year-on-year decline, primarily due to subsidy reductions and rising vehicle prices, leading to consumer hesitation [5]. - The report anticipates that the pressure on vehicle prices will be managed through strict enforcement of anti-competitive practices, aiming to stabilize prices and profit margins [5]. - The export market is expected to grow rapidly, supported by agreements that lower trade barriers for electric vehicles, enhancing profitability for manufacturers and dealers [5]. - The robotics sector is gaining traction, with the Optimus V3 generating market excitement and expectations for product launches [5]. Data Tracking - In early January, the average discount rate remained stable, with a 9.6% increase year-on-year, and the average discount amount reached 22,259 yuan, up by 2,192 yuan year-on-year [4]. - December's wholesale vehicle sales were reported at 2.85 million units, reflecting a year-on-year decline of 8.7% and a month-on-month decline of 6.3% [4]. - Notable sales performance in December included significant year-on-year growth for new energy vehicle manufacturers like NIO and Li Auto, while traditional automakers like SAIC and Changan showed mixed results [6]. Industry News - The report discusses various industry developments, including the price commitments for electric vehicles between China and Europe, which aim to facilitate trade [27]. - The Ministry of Industry and Information Technology is focusing on enhancing the competitiveness of the new energy vehicle sector and regulating market practices to prevent price wars [27]. - Recent data indicates a significant drop in retail sales of passenger vehicles in early January, with a 32% year-on-year decline [27]. Market Performance - The automotive sector saw a weekly increase of 0.71%, ranking 8th out of 29 sectors, while the overall market indices showed mixed results [10].