声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 国家知识产权局信息显示，江铃汽车股份有限公司申请一项名为"一种基于新型位置探测器PSD技术的 在线检具"的专利，公开号CN120720950A，申请日期为2025年06月。 天眼查资料显示，江铃汽车股份有限公司，成立于1997年，位于南昌市，是一家以从事汽车制造业为主 的企业。企业注册资本86321.4万人民币。通过天眼查大数据分析，江铃汽车股份有限公司共对外投资 了9家企业，参与招投标项目1830次，财产线索方面有商标信息851条，专利信息4727条，此外企业还拥 有行政许可675个。 专利摘要显示，本发明提供了一种基于新型位置探测器PSD技术的在线检具。上述基于新型位置探测器 PSD技术的在线检具，测量前，需用合格的电池包对工装进行标定，工装由2名工人定位在电池包上定 位后，再手动按下检测机构，根据不同电池包，检测数量不同，此时检测机构下方的检测销偏移后会反 馈出位置度数值，每件检测机架上面的过孔为一次性加工，故同一检测机架的孔的相对位置已固定，所 以检测时仅需检测检测支架上的一个过孔的位置度数值即可，提高了检测在 ...

Core Viewpoint - The article emphasizes the "superb drivability" of the Jiangling Yuhu pickup truck, highlighting its performance across various driving scenarios, including heavy loads, long distances, and complex road conditions [1]. Group 1: Power and Performance - The Jiangling Yuhu is equipped with a 2.5T Blue Flame engine, delivering a maximum power of 123 kW and a peak torque of over 430 N·m, redefining the power standards for commercial pickups [3]. - The engine provides strong torque output of 320 N·m at just 1000 RPM, allowing for efficient performance even when fully loaded, enhancing acceleration and climbing capabilities [3]. - The upgraded ECU platform improves throttle response time to just 0.35 seconds at 1500 RPM, with a 33% increase in computational power, ensuring a more responsive driving experience [3]. Group 2: Smooth Handling - The Yuhu features an 8AT transmission that eliminates common shifting delays, providing a seamless driving experience even under heavy loads [6]. - The vehicle's steering system boasts a minimum turning radius of 6.4 meters, making it easy to maneuver in tight spaces, such as construction sites and markets [6]. - The lifetime warranty on transmission fluid reduces maintenance concerns, allowing drivers to focus on the road [6]. Group 3: Stability and Comfort - The Yuhu's chassis stability is enhanced by a combination of double wishbone coil spring front suspension and a robust high-strength steel frame, leading to superior handling during sharp turns and rough terrain [8]. - With a 29° approach angle, 25° departure angle, and 235 mm ground clearance, the Yuhu can navigate obstacles like slopes and gravel without concern for undercarriage damage [8]. - The suspension system effectively absorbs bumps, ensuring passenger comfort even on uneven surfaces [8]. Group 4: Overall Experience - The Jiangling Yuhu combines strong power, smooth shifting, and stable chassis to deliver a comprehensive driving experience that meets user demands for efficiency and confidence [10]. - The vehicle is positioned as a benchmark for superb drivability in the commercial pickup segment, addressing the needs of users who prioritize both performance and ease of driving [10].

Core Insights - The commercial vehicle sector experienced a 0.81% increase on September 30, with Dongfeng Motor leading the gains [1] - The Shanghai Composite Index closed at 3882.78, up 0.52%, while the Shenzhen Component Index closed at 13526.51, up 0.35% [1] Commercial Vehicle Sector Performance - Dongfeng Motor (600006) closed at 8.06, with a rise of 6.05% and a trading volume of 1.23 million shares, amounting to a transaction value of 972 million [1] - Other notable performers included: - Zhongjun Vehicles (301039) at 9.61, up 1.69% [1] - Shuguang Co. (600303) at 3.91, up 1.56% [1] - Jianghuai Automobile (600418) at 53.90, up 1.51% [1] - The sector saw a net inflow of 248 million in main funds, while retail investors experienced a net outflow of 206 million [3][4] Fund Flow Analysis - Main funds showed significant net inflows in several companies: - Dongfeng Motor: 218 million, accounting for 22.41% of the total [4] - Yutong Bus (600066): 93.02 million, 17.44% [4] - Jianghuai Automobile: 58.23 million, 1.77% [4] - Retail investors showed net outflows in various companies, with notable outflows from: - Yutong Bus: 6.89 million, -12.93% [4] - Jiangling Motors: 14.95 million, -11.50% [4] - China National Heavy Duty Truck (000951): 15.97 million, -9.42% [4]

国家知识产权局信息显示，江铃汽车股份有限公司取得一项名为"一种域控制器低压备份电源装置及取 电方法"的专利，授权公告号CN119975213B，申请日期为2025年01月。 声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 ...

Core Viewpoint - The evolution of the pickup truck, particularly the Jiangling Yuhu, reflects a shift in user demand from a purely commercial vehicle to a versatile model that accommodates both work and lifestyle needs [3][13]. Market Demand Iteration: From Single Function to Multi-Adaptation - The structural changes in the pickup market are driven by upgraded user demands, with private consumption expected to exceed 65% in 2024 due to relaxed policies on urban entry [3]. - Users now expect pickup trucks to serve dual purposes: practical utility for work and comfort for family outings, necessitating strong cargo capacity, stable power output, and fuel efficiency alongside comfort and smart features [3]. Product Evolution Logic: From "Can Meet" to "Well Adapted" - The first-generation Yuhu launched in 2012 began to integrate passenger car comfort into its design, moving beyond just cargo capacity [5]. - The latest Yuhu model features optimized design details for user scenarios, such as improved cargo box opening angles and spacious rear seating for adult passengers [5]. Core Advantages Analysis: Practical Adaptation Based on Scenarios 1. **Power and Economy: Balancing Efficiency and Cost** - The new Yuhu is equipped with a Blue Flame engine, delivering a maximum power of 123 kW and a peak torque of 430 N·m, outperforming competitors [8]. - It achieves a minimum fuel consumption of 7.1L per 100 km, saving approximately 1200 yuan annually for users driving 20,000 km, highlighting its economic significance for commercial users [8]. 2. **Space Design: Balancing Cargo and Passenger Needs** - The long cargo box of the Yuhu has a volume of 1.6 m³, providing superior loading capacity compared to similar models [9]. - The design includes ample legroom and a seat folding feature for flexible storage, enhancing usability for both cargo and passengers [9]. 3. **Smart Configuration: Practicality-Oriented** - The vehicle features a 12.8-inch central control screen and a 7-inch LCD instrument panel, designed for simplicity and ease of use [10]. - It includes a voice interaction system and supports online upgrades, improving user convenience and reducing the risk of unexpected vehicle issues [10]. 4. **Through Performance: Adapting to Complex Road Conditions** - The Yuhu boasts superior approach and departure angles (29° and 25° respectively) and a minimum ground clearance of 235 mm, enhancing its capability on rough terrains [11]. Conclusion - The design of the new Jiangling Yuhu aligns closely with current user demands, serving as an efficient production tool in commercial settings and a practical vehicle for personal use, effectively bridging the gap between work and lifestyle [13].

Group 1: Market Insights - In August, China's share of the global automotive market reached 38%, an increase of 4 percentage points compared to the previous year, driven by strong sales and new subsidy policies [1] - Global automotive sales from January to August 2025 totaled 61.98 million units, a year-on-year increase of 6%, with China contributing 21.1 million units, up 12% [1] Group 2: Corporate Developments - Dongfeng Motor has established a new company, Mengshi Technology, in Xiangyang with a registered capital of 8.47 billion RMB, focusing on automotive parts R&D and sales [1] - Dongfeng Motor and Tencent signed a strategic cooperation agreement to enhance smart driving and cockpit innovations, integrating AI technology with corporate digitalization [2] - Dongfeng's subsidiary, Zhixin Technology, announced leadership changes, with new appointments aimed at strengthening management [3] Group 3: Product Launches and Achievements - The AITO M8 model from Huawei has surpassed 100,000 units in cumulative deliveries [4] - JMC's second phase of its product R&D building has officially commenced, focusing on core technologies such as smart cockpits and autonomous driving [5] - Zeekr has officially launched the Zeekr 9X model, starting at a price of 465,900 RMB [6] Group 4: Collaborations and Partnerships - Toyota and Isuzu have reached an agreement to jointly develop a new generation of fuel cell buses, with production planned to start in the 2026 fiscal year [7] - BYD's Hungarian factory has produced its 1,000th electric bus, which is tailored for the German market [7] Group 5: Industry Challenges - Jaguar Land Rover announced a gradual resumption of some manufacturing operations following a cybersecurity incident that had previously halted production [7]

Core Viewpoint - The article discusses the ongoing debate in the commercial pickup truck market between two schools of thought: the "tool-first" approach, which prioritizes durability and practicality, and the "experience-first" approach, which emphasizes aesthetics and comfort. The launch of the new Jiangling Yuhu aims to reconcile these differing perspectives by offering a vehicle that excels in both areas [1][12]. Group 1: Durability vs. Aesthetics - The "tool-first" advocates argue that pickups are primarily work vehicles, where durability is paramount, while the "experience-first" proponents counter that a visually appealing vehicle enhances client interactions and long-distance travel comfort. The Jiangling Yuhu demonstrates that durability and aesthetics can coexist through its robust design and high-quality materials [3][4]. - The Jiangling Yuhu features a body made of 68% high-strength steel, which effectively reduces deformation and impact damage during collisions. It also has 100% galvanized exterior parts, passing a 60-day corrosion test, making it resistant to rust in harsh environments [3]. - The vehicle has undergone 3.9 million kilometers of testing, and it offers a lifetime warranty on the engine and transmission, providing peace of mind for practical users [3]. Group 2: Load Capacity vs. Comfort - The "tool-first" group emphasizes the need for a large and organized cargo space, while the "experience-first" group seeks comfort for passengers during long trips. The Jiangling Yuhu's "super space" design allows for both cargo capacity and passenger comfort without compromise [6]. - The cargo bed has a volume of 1.6m³, which is 0.3m³ larger than similar models, enhancing loading capacity. Its flat-bottom design improves stability for transporting items, and the tailgate can open 180°, facilitating easier loading and unloading [6]. - The rear seating area is designed for comfort, with 1470mm of shoulder space and ample legroom, making it suitable for long journeys. The seat back angle of 25° ensures comfort during extended use [6]. Group 3: Basic Utility vs. Smart Features - The "tool-first" perspective values basic functionalities, while the "experience-first" viewpoint considers smart features essential. The Jiangling Yuhu incorporates intelligent configurations to satisfy both user groups [8]. - For practical users, the vehicle comes standard with essential features like reverse cameras, cruise control, and tire pressure monitoring. For those seeking smart experiences, it includes a 12.8-inch central screen with AI voice interaction capabilities, allowing for hands-free commands [8]. - The vehicle supports online system upgrades and remote diagnostics, enhancing user convenience and ensuring a blend of technology and practicality [8]. Group 4: Efficiency vs. Long-term Assurance - The "tool-first" group focuses on immediate durability, while the "experience-first" group is concerned with long-term reliability and after-sales support. The Jiangling Yuhu addresses both aspects by providing a durable vehicle with extensive warranty coverage [10]. - The vehicle has been tested in extreme conditions, functioning reliably in temperatures ranging from -29°C to 70°C. It also offers a lifetime warranty on the engine and transmission, with maintenance-free transmission oil, leading the segment in reliability [10]. Conclusion - The Jiangling Yuhu exemplifies a new standard in commercial pickups by effectively merging the needs of both "tool-first" and "experience-first" users. It combines impressive aesthetics, practical space design, smart features, and reliable quality, redefining the expectations for commercial pickup trucks [12].

1. Report Industry Investment Rating - Not provided in the given content 2. Core Viewpoints of the Report - By 2035, new energy vehicles will become the mainstream of newly sold vehicles in China, with the net greenhouse gas emissions in the entire economic scope decreasing by 7%-10% from the peak, non-fossil energy consumption accounting for over 30% of the total energy consumption, and other goals to be achieved [1][109][118]. - The penetration rate of the Chinese new energy vehicle market exceeded 30% in 2023 and 50% in 2024. In 2025, high - competitiveness new car products are continuously launched, and price wars are gradually stopped. Overseas markets face trade protectionism in Europe and the United States, so attention should be paid to new growth points such as countries along the Belt and Road and the Middle East. The market share of independent brands continues to expand [3][120]. 3. Summary According to Relevant Catalogs 3.1 Financial Market Tracking - The one - week price changes of related sectors and listed companies are presented in charts. For example, BYD's one - week price decline was 1.65%, while Seres' was 9.48% [12][15]. 3.2产业链数据跟踪 3.2.1 China New Energy Vehicle Market Tracking - **Sales and Exports**: Data on China's new energy vehicle sales, penetration rate, domestic sales, exports, and sales of EV and PHV are presented in charts [16][21][23]. - **Inventory Changes**: Charts show the monthly new additions to new energy passenger vehicle channel inventory and manufacturer inventory [24][25]. - **Delivery Volumes of Chinese New Energy Vehicle Enterprises**: Monthly delivery volumes of enterprises such as Leapmotor, Li Auto, XPeng, NIO, etc., are presented in charts [27][28][32]. 3.2.2 Global and Overseas New Energy Vehicle Market Tracking - **Global Market**: From January to July, global new energy vehicle sales reached 9.233 million, a year - on - year increase of 25.9%. Except for China, Europe and other regions also had significant growth, with year - on - year increases of 29.5% and 53.4% respectively [2]. - **European Market**: Data on European new energy vehicle sales, penetration rate, and sales of EV and PHV in countries like the UK, Germany, and France are presented in charts [44][50][55]. - **North American Market**: In August, US new energy vehicle sales and penetration rate reached record highs. Due to the expiration of the federal electric vehicle tax credit on September 30, high market enthusiasm is expected to continue in September, followed by a sharp decline. Data on North American new energy vehicle sales, penetration rate, and sales of EV and PHV are presented in charts [2][119]. - **Other Regions**: Data on new energy vehicle sales, penetration rate, and sales of EV and PHV in regions such as Japan, South Korea, and Thailand are presented in charts [62][70][72]. 3.2.3 Power Battery Industry Chain - Data on power battery installation volume, export volume, weekly average price of battery cells, material costs, and the operating rates and prices of various battery materials are presented in charts [79][81][85]. 3.2.4 Other Upstream Raw Materials - Data on the daily prices of rubber, glass, steel, and aluminum are presented in charts [102][103][104]. 3.3 Hot News Summaries 3.3.1 China: Policy Dynamics - By 2035, new energy vehicles will become the mainstream of newly sold vehicles in China. From 2026, export license management will be implemented for pure - electric passenger vehicles [109]. 3.3.2 China: Industry Dynamics - From September 1 - 21, new energy vehicle retail sales increased by 10% year - on - year, and cumulative retail sales since the beginning of the year increased by 24%. In the 38th week (September 15 - 21), new energy passenger vehicle retail sales were 299,000, a year - on - year increase of 5.9%, and cumulative retail sales since the beginning of the year were 8.214 million, a year - on - year increase of 23.0% [111][112][113]. 3.3.3 China: Enterprise Dynamics - Chery Automobile was listed on the Hong Kong Stock Exchange, raising HK$9.14 billion. Li Auto and Sunwoda Power jointly established a battery company [114]. 3.3.4 Overseas: Policy Dynamics - Australia announced a 2035 emission reduction target, aiming to reduce emissions by 62 - 70% compared to 2005. The US lowered the import tariff on EU cars to 15%, and Turkey imposed new tariffs on imported passenger cars [114][116][119]. 3.3.5 Overseas: Enterprise Dynamics - BYD's Brazilian factory obtained an international green certificate. Porsche adjusted its product strategy, slowing down electrification and lowering its 2025 performance expectations [117][118]. 3.4 Investment Advice - Pay attention to new growth points such as countries along the Belt and Road and the Middle East. Focus on enterprises with strong product capabilities, smooth overseas expansion, and stable supply [3][120].

9月29日上午，江铃汽车产品研发大楼二期项目开工奠基仪式举行。江铃股份党委副书记、执行副总 裁、产品研发总院院长丁文敏在发言中强调，江铃汽车研发大楼二期作为江铃汽车未来的技术创新攻坚 中心和人才汇聚基地，重点聚焦智能座舱、自动驾驶、三电系统、新型架构、新型底盘等核心技术的自 主开发。 ...

Core Viewpoint - The commercial vehicle sector experienced a rise of 1.22% on September 29, with Hanma Technology leading the gains. The Shanghai Composite Index closed at 3862.53, up 0.9%, while the Shenzhen Component Index closed at 13479.43, up 2.05% [1]. Group 1: Market Performance - The commercial vehicle sector saw significant individual stock movements, with Hanma Technology closing at 8.05, up 5.23%, and a trading volume of 963,600 shares, amounting to 773 million yuan [1]. - Other notable performers included Zhongshun Vehicles, which rose 5.00% to 9.45, and Jianghuai Automobile, which increased by 2.85% to 53.10 [1]. - The overall trading volume for the commercial vehicle sector was substantial, with Jianghuai Automobile achieving a transaction value of 3.016 billion yuan [1]. Group 2: Fund Flow Analysis - The commercial vehicle sector experienced a net inflow of 239 million yuan from institutional investors, while retail investors saw a net outflow of 38.64 million yuan [3][4]. - Jianghuai Automobile attracted the highest net inflow from institutional investors at 185 million yuan, while Zhongshun Vehicles had a net inflow of 22.17 million yuan [4]. - Conversely, Yutong Bus faced a net outflow of 35.65 million yuan from retail investors, indicating a shift in investor sentiment [4].