从资金流向上来看，当日乘用车板块主力资金净流入10.73亿元，游资资金净流出5.16亿元，散户资金净 流出5.57亿元。乘用车板块个股资金流向见下表： 证券之星消息，1月6日乘用车板块较上一交易日上涨2.13%，广汽集团领涨。当日上证指数报收于 4083.67，上涨1.5%。深证成指报收于14022.55，上涨1.4%。乘用车板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 601238 | 广汽集团 | 8.56 | 4.52% | 105.64万 | 8.91亿 | | 601127 | 赛力斯 | 125.32 | 3.31% | 37.57万 | 46.78亿 | | 600733 | 北汽蓝谷 | 8.29 | 2.98% | 211.73万 | 17.37 Z | | 002594 | 比亚迪 | 66'66 | 1.92% | 52.18万 | 51.85亿 | | 600104 | 上汽集团 | 15.54 | 1.83% | 68.29万 | 10.54亿 ...

| 2026年日历 | 1月 | February | March | 2月 | January | April | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | ...

| | | | 2025年中国乘用车行业A股上市企业市值排行榜 | | | | --- | --- | --- | --- | --- | --- | | 排名 | 证券代码 | 证券简称 | 市值(亿元) | 上市日期 | 所在地区 | | 1 | 002594. SZ | 比亚迪 | 8909. 33 | 2011-06-30 | 广东省 | | 2 | 601127. SH | 塞力斯 | 2107. 11 | 2016-06-15 | 重庆市 | | 3 | 601633. SH | 长城汽车 | 1936. 65 | 2011-09-28 | 河北省 | | র্ব | 600104. SH | 上汽集团 | 1749.58 | 1997-11-25 | 上海市 | | 5 | 000625. SZ | 长安汽车 | 1175. 81 | 1997-06-10 | 重庆市 | | 6 | 601238. SH | 广汽集团 | 832. 08 | 2012-03-29 | 广东省 | | 7 | 601777. SH | 千里科技 9 | 480. 59 | 2010-11-25 | 重庆市 | | ...

Group 1: Local Government Bonds - Shandong Province issued 723.81 billion yuan in local government bonds, marking the first issuance in the country for the year [2] - The issuance included 467.72 billion yuan in new special bonds and 256.09 billion yuan in refinancing special bonds, focusing on investment in new projects [2] - The Ministry of Finance established a dedicated Debt Management Department to enhance government debt management, which was previously fragmented [2][3] Group 2: Pharmaceutical Industry - In 2025, China approved 76 innovative drugs, significantly surpassing the 48 approved in 2024, with domestic drugs accounting for 85.5% of the total [4] - The total value of authorized transactions for innovative drugs exceeded 130 billion USD, with over 150 transactions, setting a new record [4] - The Chinese pharmaceutical industry has seen substantial growth, particularly in innovative drugs, supported by reforms in drug approval processes and enhanced intellectual property protections [5] Group 3: Automotive Industry - Six major listed car manufacturers reported their 2025 sales, with BYD leading at 4.6024 million units, a 7.73% increase, followed by SAIC and Geely [6] - The growth in sales was driven primarily by the expansion of electric vehicles, with BYD's electric vehicle sales surpassing Tesla for the first time [6][7] - The competitive landscape in the automotive market is intensifying, with companies focusing on optimizing product structures and expanding overseas [7] Group 4: Oil Market - OPEC+ decided to maintain stable oil production levels, postponing planned increases due to ongoing geopolitical tensions [8] - Despite Venezuela's significant oil reserves, production remains low due to insufficient investment, limiting its impact on global supply [8][9] - The global oil market faces challenges in stabilizing prices amid concerns of overproduction and geopolitical factors [9] Group 5: Stock Market Performance - In 2025, 385 Hong Kong stocks saw over 100% growth, with 14 stocks increasing more than tenfold, indicating a strong market performance [14] - The increase in "red stocks" reflects a growing willingness to assign long-term value to internet giants and a high enthusiasm for growth sectors [15] - The A-share market opened positively in 2026, with significant gains across various sectors, particularly in insurance and AI applications [16][17] Group 6: Consumer Products - Prices for certain LABUBU products in the second-hand market have dropped significantly, indicating a shift in supply and demand dynamics [10][11] - The price decline is attributed to increased production by the company, which aims to balance consumer demand with product scarcity [11] Group 7: Technology and AI - Samsung plans to double the number of mobile devices equipped with Google's Gemini AI system, aiming to regain market share in the smartphone sector [12][13] - The integration of AI into various products, including home appliances, highlights a trend towards combining hardware and software solutions [13]

进一步侵害了实体部门的自由现金流使得现金流量表受到损害这是第一点第二点是资产负债表也受损了那么过去几年房价大跌导致那个居民和企业部门资产负债表的资产端都出现了非常明显的缩水 侵蚀了资产负债表的资产端而这种2到20年实体部门现金流量表和资产负债表同时受损这就是阶段性中国繁荣的耿主那么这种耿主现在正在得到修复那这种修复的序章主要体现在一方面是美联储重启降息跨境资本家属回流能够修复现金流量表那我们在 四季度以及年度策略展望攻守疫情当中就明确提示2020年开始中国对外出口规模中枢整体上台阶那么人民币汇率本应该从2020年开始就进入中长期的升值周期但是22到20年美联储加息跟住了人民币汇率升值的进程反而导致人民币汇率贬值而当前美联储已经不再加息了 人民币汇率升值的本主也已经cancel掉了那么这也就意味着人民币汇率会重新回归到2020年开始的中长期的升值趋势而美联储降息人民币汇率升值它会扭转跨年资本及国民财富外流的趋势那这能够非常显著的修复实体部门包括企业包括居民部门的信息流量表 那这是现金流量表修复的序章但真正中国走向繁荣破局的关键是美联储在明年QE能够打开国内化债政策空间修复中国实体部门的资产负债表那为什么这么说 ...

长安汽车在 2025 年的销售表现如何？ 2025 年，长安汽车的整体销售表现非常出色。12 月份，公司共销售新车 12.4 万辆，其中海外销量突破了 5.7 万台，同比增长 39.05%。全年累计销售 新车 132.37 万辆，同比增长 7.33%，再创历史新高。新能源车型的销量达到 40.37 万台，同比增长 25.44%，刷新了公司的记录。海外累计销量达 50.61 万辆，同比增长 11.68%。 长城汽车 20260105 摘要 长安汽车 2025 年销量创新高，总销量达 284 万辆，同比增长 7.33%，新能源车型销量 40.37 万台，同比增长 25.44%，海外累计销 量 50.61 万辆，同比增长 11.68%。 2026 年长安汽车海外市场目标为 60 万辆，将推出坦克 700 等新品， 并逐步进入欧亚市场，同时在墨西哥、巴西、南非和澳大利亚等市场全 面铺开佛品牌产品，强化欧拉品牌在主流市场的出海力度。 长安汽车国内市场高端化战略围绕魏牌新能源和坦克 SUV 展开，魏牌定 位 20 万以上市场，坦克 SUV 专注于越野性能与豪华配置，通过丰富产 品线和强化渠道建设，实现国内外市场业绩增长。 ...

Investment Highlights - The automotive industry is expected to see a recovery in passenger vehicle demand in Q1 2026 due to the implementation of subsidy policies, with a focus on high-end electric vehicles and established export-oriented companies [3][4][5][34] - The heavy truck sector benefits from a new policy that maintains subsidy levels, with expectations of 800,000 to 850,000 units sold domestically in 2026, reflecting a 3% year-on-year increase [4][29][38] - The bus sector anticipates a slight increase in sales to 40,000 units in 2026, supported by the continuation of subsidy policies [4][28][38] - The motorcycle market is projected to grow, with total industry sales expected to reach 19.38 million units in 2026, a 14% increase year-on-year, driven by strong export growth [5][35] Passenger Vehicle Sector - The implementation of subsidy policies is expected to convert pent-up demand into sales, with a focus on companies less sensitive to policy changes, such as Jianghuai Automobile and high-end brands like Geely and Great Wall [3][34] - The domestic market is expected to prioritize stability, while exports will focus on companies with proven execution capabilities, such as BYD and Changan [3][34] Heavy Truck Sector - The new policy for heavy trucks has exceeded expectations, maintaining subsidy levels from 2025, which is anticipated to accelerate the rollout compared to previous years [4][29][38] - The domestic sales forecast for heavy trucks in 2026 is optimistic, with expectations of 80,000 to 85,000 units sold, reflecting a 3% increase year-on-year [4][29][38] Bus Sector - The bus sector's subsidy policy has also exceeded expectations, with sales projected to reach 40,000 units in 2026, a 5% increase year-on-year [4][28][38] - The market anticipates a continued push for electric buses, supported by government incentives [28][38] Motorcycle Sector - The motorcycle market is expected to see significant growth, particularly in the large-displacement segment, with total sales projected at 1.26 million units in 2026, a 31% increase year-on-year [5][35] - Exports are expected to rise significantly, with a forecast of 830,000 units in 2026, reflecting a 50% increase [5][35] Overall Market Outlook - The overall automotive market is projected to grow, with total industry sales expected to reach 19.38 million units in 2026, a 14% increase year-on-year [5][35] - The heavy truck and motorcycle sectors are particularly well-positioned for growth due to favorable policy environments and increasing export opportunities [4][5][35]

长城皮卡2025年全球累计销售181660辆。 长城炮2025年全球累计销售132488辆，累计62个月销量过万。 2025年，长城炮、风骏、金刚炮斩获皮卡市场单车型销量前三。 长城炮蝉联 中国皮卡销冠 2 0 2 5 年 1 - 1 2 月 长 城 炮 全 球 累 计 销 售 1440 累计62个月销量过万 车型销量 霸榜前三 2025年1-12月，长城炮、风骏、金刚炮包揽皮卡市场 单车型销量前三 长城炮2025年全球累计销售132488辆，累计62个月销量过万。 A 1 49 11:20 P2 3 Ob3 AT车型 销量第 AT车型市占率近 29个省市 市占率第 2025年,长城皮卡在29个省市市占率第一 超280地市 (89%地市)市占率第一 长城皮卡2025年全球累计销售181660辆。 2025年，长城炮、风骏、金刚炮斩获皮卡市场单车型销量前三。 -117 长 城 皮 卡 连 续 2 8 年 销 量 第 9 ted Part a 长城炮蝉联 中国皮卡销冠 2025年1-12月长城炮全球累计销售 累计62个月销量过万 车型销量 霸榜前三 2025年1-12月，长城炮、风骏、金刚炮包揽皮卡市场 单车型销 ...

| | | 可转债转股情况：2025年12月1日至2025年12月31日期间，共有3,000元"长汽 转债"已转换成公司股票，转股数为75股。自2021年12月17日至2025年12月31 日，累计共有4,947,000元"长汽转债"已转换为公司股票，累计转股数为129,727 股，占可转债转股前公司已发行股份总额的0.0014%。 未转股可转债情况：截至2025年12月31日，尚未转股的可转债金额为 3,495,052,000元，占可转债发行总量的99.8586%。 2023年股票期权激励计划首次授予期权行权结果：2023年股票期权激励计划首 次授予第一个行权期可行权股票期权数量为18,948,783股，行权方式为自主行 权，行权期为2025年5月12日至2026年1月25日。2025年12月行权0股，占2023 年股票期权激励计划首次授予第一个行权期可行权股票期权总量的0%。 经上海证券交易所自律监管决定书[2021]287号文同意，公司35亿元可转换公司债 券于2021年7月8日起在上海证券交易所挂牌交易，债券简称"长汽转债"，债券代码 "113049"。 长城汽车股份有限公司 关于可转换公司债券转股及 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何 聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 長 城 汽 車 股 份 有 限 公 司 GREAT WALL MOTOR COMPANY LIMITED* （於中華人民共和國註冊成立的股份有限公司） 股份代號：02333（港幣櫃台）及82333（人民幣櫃台） 海外監管公告 此海外監管公告是根據香港聯合交易所有限公司證券上市規則第 13.10B 條發出。以下為長城汽 車股份有限公司於上海證券交易所網站（www.sse.com.cn）所刊發之「長城汽車股份有限公司 於可轉換公司 券 股及2023年股 期權激勵計劃自主行 結果暨股份變動公告」。 承董事會命 長城汽車股份有限公司 公司秘書 李紅栓 中國河北省保定市，2026 年 1 月5 日 於本公告日期，董事會成員如下： 长城汽车股份有限公司 关于可转换公司债券转股及 2023 年股票期权激励计划 自主行权结果暨股份变动公告 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， ...