1月27日，中汽院（浙江）汽车科技有限公司成立，注册资本8000万元，经营范围包含工程和技术研究和试验发展；汽车零部件研发；计量技术服务；软件 开发等领域。 据了解，该公司由中国汽车工程研究院股份有限公司与吉利汽车研究院（宁波）有限公司共同持股。此前双方已在高原试验基地共建、智能网联性能测试等 方面开展深度合作，中汽研宁波检验中心还为吉利多款车型提供过海外高级驾驶辅助的测试服务。新合资公司的成立，标志着双方在汽车技术研发领域合作 进一步深化。 ...

天眼查工商信息显示，近日，中国汽车工程研究院股份有限公司出资4800万元成立中汽院（浙江）汽车 科技有限公司，持股60%，所属行业为专业技术服务业。 资料显示，中汽院（浙江）汽车科技有限公司成立于2026年1月27日，法定代表人为，注册资本8000万 人民币，公司位于宁波市，技术服务、技术开发、技术咨询、技术交流、技术转让、技术推广、工程和 技术研究和试验发展、汽车零部件研发、计量技术服务、软件开发、信息系统集成服务、信息技术咨询 服务、业务培训（不含教育培训、职业技能培训等需取得许可的培训）、货物进出口、技术进出口、终 端测试设备销售、新能源汽车生产测试设备销售、会议及展览服务（出国办展须经相关部门审批）、租 赁服务（不含许可类租赁服务）、机械设备租赁、计算机及通讯设备租赁、非居住房地产租赁（除依法 须经批准的项目外，凭营业执照依法自主开展经营活动）。许可项目：检验检测服务、机动车检验检测 服务、特种设备检验检测、船舶检验服务、认证服务、旅游业务（依法须经批准的项目，经相关部门批 准后方可开展经营活动，具体经营项目以审批结果为准）。 财经频道更多独家策划、专家专栏，免费查阅>> ...

| 序号 | 股东名称 | 持股比例: | 认缴出资额(万元) = 认缴出资日期 = 首次持股日期： 关联产品/机构 | | --- | --- | --- | --- | | : 2 中国汽车工程研究院股份有限公司 央企子公司 中国汽研（601965.SH） | | | 2026-01-27 中国汽研 | | 2 + essx 吉利汽车研究院(宁波)有限公司 | | | 2026-01-27 | 企查查APP显示，近日，中汽院（浙江）汽车科技有限公司成立，注册资本8000万元，经营范围包含： 工程和技术研究和试验发展；汽车零部件研发；计量技术服务；软件开发等。企查查股权穿透显示，该 公司由中国汽研（601965）、吉利汽车研究院（宁波）有限公司共同持股。 | © 企章章 全国企业信用意识 | 中汽院(浙江)汽车科技有限公司 | | 0 童一下 | | ■应用,企业中心 ■ ■ ■ ■ ■ ાલ | | --- | --- | --- | --- | --- | --- | | 基本信息 17 | 法律诉讼 | 经营风险 | 经营信息 企业发展 | | 历史信息 1 知识产权 | | 法定代表人 | 王国泰 ...

Core Viewpoint - The automotive industry is undergoing a critical transformation towards electrification and intelligence, with safety being the core baseline for high-quality development. The C-IASI safety index, led by the China Automotive Engineering Research Institute, aims to enhance automotive safety standards through iterative regulations and innovative assessments by 2025 [1]. Group 1: C-IASI Safety Index Overview - In 2025, the C-IASI safety index will release evaluation results for 17 vehicle models across three batches, with the first two batches (14 models) adhering to the 2023 regulations and the third batch (3 models) following the revised 2024 regulations, which introduces a special index for new energy vehicles [2]. - The 2023 regulations consist of four sub-indices: crashworthiness and repair economy, occupant safety, pedestrian safety, and vehicle assistance safety. The 2024 revision adds a special index for new energy vehicles, focusing on repair economy and vehicle safety [4]. Group 2: Evaluation Results - The evaluation results for 2025 show significant improvements across core dimensions, with 94% of models achieving excellent or above ratings in occupant safety. All tested models have 100% configuration rates for front airbags, front side airbags, and curtain airbags, while rear side airbags and front center airbags have increased to 47% from 19% and 5% respectively in the 2020 version [4]. - In pedestrian safety, 100% of models received excellent or above ratings, indicating a growing emphasis on pedestrian protection in vehicle design [4]. - In vehicle assistance safety, 100% of models also achieved excellent or above ratings, with all 17 tested models equipped with AEB/LSS, and 58.8% of models featuring DMS, showing a shift towards mainstream safety configurations [5]. Group 3: Challenges and Opportunities - Despite advancements, crashworthiness and repair economy remain common weaknesses, with only 29% (5 models) receiving excellent ratings and 18% (3 models) rated as good, indicating room for improvement in controlling user after-sales costs [5]. - New energy vehicles are becoming the main focus of evaluations, with 15 out of 17 tested models being electric. The first three models evaluated under the new energy vehicle special index all received excellent ratings, particularly excelling in bottom collision tests [5]. Group 4: Technological Advancements - The continuous improvement in evaluation results reflects the strong influence of the C-IASI safety index on industry technological advancements. The China Automotive Engineering Research Institute aims for zero casualties in traffic accidents and is conducting forward-looking research on key evaluation technologies and standards [6]. - The AC-HUMs digital model, developed based on Chinese population data, represents a breakthrough in safety technology, enabling comprehensive assessments of injury risks [6]. - Research on pedestrian safety evaluation is being conducted to integrate active safety (AEB) with passive protection effects, enhancing overall safety assessments [8]. Group 5: Industry Standards and Collaboration - The China Automotive Engineering Research Institute has led the development of the first industry standard for occupant safety in high-angle seats, with over 20 companies already applying it [10]. - A collaborative effort has resulted in the first deformable barrier that accurately replicates vehicle-to-vehicle collision responses, supporting vehicle compatibility assessments [12]. - Virtual evaluation studies for diverse occupant protection in frontal and side collisions are being conducted, expanding existing physical evaluation conditions and promoting a more comprehensive occupant protection assessment system [14].

2026.01. 27 本文字数：2463，阅读时长大约4分钟 作者 | 第一财经 葛 慧 一边是汽车行业利润率处于历史次低位，一边是检测机构的高毛利。两家上市公司的最新业绩情况，揭露出 当下新能源汽车行业困境的冰山一角。 中国汽研（601965.SH）最新业绩快报显示，公司预计2025年实现归母净利润10.60亿元，同比增长 16.78%。公司营业收入49.68亿元，同比增长4.98%，利润增速远超营收增速。 另一家中汽股份（301215.SZ）的业绩也出现类似表现。三季报显示，公司前三季度实现营业收入4.35亿 元，同比增长20.91%；归属于上市公司股东的净利润达1.60亿元，同比增长31.26%，扣非净利润同比增 长38.71%。 商业利益与行业责任的拉锯 中国汽研是我国汽车行业国家级科技创新和公共技术服务机构，是我国汽车测试评价及质量监督检验技术服 务的主要供应商。 而另一家中汽股份则为中汽中心旗下相关业务上市平台，主营业务为通过构建汽车场地试验环境和试验场 景，为汽车整车生产企业、汽车检测机构、汽车底盘部件系统企业以及轮胎企业等客户提供场地试验技术服 务。 "我们主动退出部分缺乏竞争力的专用车业务 ...

一边是汽车行业利润率处于历史次低位，一边是检测机构的高毛利。两家上市公司的最新业绩情况，揭 露出当下新能源汽车行业困境的冰山一角。 另一家中汽股份（301215.SZ）的业绩也出现类似表现。三季报显示，公司前三季度实现营业收入4.35 亿元，同比增长20.91%；归属于上市公司股东的净利润达1.60亿元，同比增长31.26%，扣非净利润同比 增长38.71%。 中国汽研（601965.SH）最新业绩快报显示，公司预计2025年实现归母净利润10.60亿元，同比增长 16.78%。公司营业收入49.68亿元，同比增长4.98%，利润增速远超营收增速。 Wind数据显示，去年前三季度，中国汽研和中汽股份销售净利率分别为23.1%和36.8%。而根据乘联分 会最新数据，2025年，汽车行业销售利润率4.1%，处于历史低位。 汽检业务高毛利 商业利益与行业责任的拉锯 2025年堪称汽车安全监管大年，而汽车检测在其中发挥的作用越来越重要。政策法规的实施带动强检市 场扩容的同时，也将带来相关研发测试需求的增长。根据北京智研科信咨询有限公司《2024-2030 年中 国汽车试验场行业市场研究分析及发展前景展望报告》、北京迪 ...

Core Viewpoint - The automotive service sector experienced a decline of 3.0% on January 26, with Xiamen Xinda leading the drop [1] Group 1: Market Performance - The Shanghai Composite Index closed at 4132.61, down 0.09% [1] - The Shenzhen Component Index closed at 14316.64, down 0.85% [1] - Key stocks in the automotive service sector showed significant declines, with Xiamen Xinda down 7.27% to 6.38 [1] Group 2: Stock Performance - Xiamen Xinda (000701) had a closing price of 6.38, with a trading volume of 557,400 shares and a turnover of 363 million [1] - Other notable declines included: - Jiao Yun Co. (600676) down 6.40% to 61.8 with a turnover of 476 million [1] - Alte (300825) down 3.36% to 10.37 with a turnover of 136 million [1] - Shanghai Wumao (600822) down 3.19% to 11.53 with a turnover of 136 million [1] Group 3: Capital Flow - The automotive service sector saw a net outflow of 156 million from main funds, while retail investors contributed a net inflow of 119 million [1] - The detailed capital flow for selected stocks showed: - China Automotive Research (601965) had a main fund net inflow of 10.39 million [2] - Xiamen Xinda (000701) experienced a main fund net outflow of 43.40 million [2] - Shanghai Wumao (600822) had a significant main fund net outflow of 19.35 million [2]

Investment Rating - The industry investment rating is "Buy" [2] Core Insights - The report indicates a transition from "stable volume and slow price" to "price increase and stable volume" for the automotive industry in 2026 [6][16] - The domestic demand for passenger vehicles is expected to show positive growth in 2026, supported by policies such as scrapping and replacement subsidies [27][28] - The report highlights that the average selling price (ASP) of passenger vehicles is projected to increase, with a notable rise in ASP observed in December 2025 [16][20] Summary by Sections 1. Passenger Vehicle Sales and Market Dynamics - In December 2025, domestic passenger vehicle sales reached 2.278 million units, a year-on-year decrease of 16.4% but a month-on-month increase of 13.6% [16] - The total sales for 2025 were 23.052 million units, reflecting a slight year-on-year increase of 0.6% [16] - The report notes that December's performance was significantly below seasonal norms, attributed to the suspension of scrapping subsidies in some regions [16] 2. ASP Trends and Market Expectations - The ASP for passenger vehicles in 2025 showed a year-on-year decline of 2.1%, with December 2025 ASP increasing by 13.7% compared to the previous year [16][20] - The report anticipates that the continuation of scrapping policies will enhance the sales of mid-to-high-end vehicles, contributing to price increases [27] 3. Inventory and Supply Chain Considerations - As of December 2025, the inventory of passenger vehicles stood at 4.708 million units, with a dynamic inventory-to-sales ratio of 2.48 [40] - The report suggests that short-term inventory risks are manageable, as leading domestic manufacturers may adjust production based on current demand [40] 4. Investment Recommendations - The report recommends focusing on various companies within the passenger vehicle supply chain, including Geely, BYD, and Xpeng Motors for growth potential [6][27] - It also highlights companies like Great Wall Motors and SAIC Group as having potential turning points in their performance [6][27]

Core Insights - China Automotive Engineering Research Institute Co., Ltd. has applied for a patent titled "Multiple Safety Redundancy Method and System for Power Battery Safety," with publication number CN121375487A and application date of October 2025 [1] - The patent focuses on safety management methods for power battery systems, utilizing a four-level redundancy mechanism to enhance dynamic safety [1] Group 1: Patent Details - The invention involves a method that employs a Federal Lyapunov-Graph Network Algorithm for local chaos feature extraction, regional fault propagation modeling, global privacy collaborative decision-making, and hardware rapid fuse [1] - The system consists of multiple battery modules, each including a local Battery Management System (BMS), regional controller, central safety gateway, and hardware fuse layer [1] - The invention aims to achieve early fault identification and improve the non-diffusion rate of battery packs in thermal runaway scenarios [1] Group 2: Company Background - China Automotive Engineering Research Institute Co., Ltd. was established in 2001 and is located in Chongqing, primarily engaged in professional technical services [1] - The company has a registered capital of 1,004.18 million RMB [1] - According to data analysis, the company has invested in 38 enterprises, participated in 5,000 bidding projects, and holds 350 trademark records and 2,090 patent records, along with 100 administrative licenses [1]

Market Overview - The automotive service sector increased by 2.21% on January 23, with Guoji Automobile leading the gains [1] - The Shanghai Composite Index closed at 4136.16, up 0.33%, while the Shenzhen Component Index closed at 14439.66, up 0.79% [1] Stock Performance - Guoji Automobile (600335) closed at 7.05, up 4.91% with a trading volume of 676,800 shares and a transaction value of 473 million [1] - China Automotive Research (601965) closed at 20.24, up 4.60% with a trading volume of 279,600 shares and a transaction value of 553 million [1] - Xiamen Xinda (000701) closed at 6.88, up 4.08% with a trading volume of 261,600 shares and a transaction value of 178 million [1] - Other notable stocks include Zhongqi Co. (301215) up 1.66%, Beiba Media (600386) up 1.30%, and Shenhua Holdings (600653) up 1.01% [1] Capital Flow - The automotive service sector experienced a net outflow of 25.884 million from institutional investors, while retail investors saw a net inflow of 5.266 million [2] - The sector's overall capital flow indicates a mixed sentiment among different investor types [2] Detailed Capital Flow Analysis - China Automotive Research (601965) had a net inflow of 40.064 million from institutional investors, but a net outflow of 48.685 million from retail investors [3] - Xiamen Xinda (000701) saw a net inflow of 29.717 million from institutional investors, with significant outflows from both retail and speculative investors [3] - Guoji Automobile (600335) had a net inflow of 9.610 million from institutional investors, while retail investors experienced a net outflow of 16.229 million [3] - Other stocks like Alite (300825) showed a significant net outflow of 13.994 million from institutional investors, indicating a bearish sentiment [3]