智通财经APP获悉，8月18日，崔东树发布2025年7月乘用车细分市场车型走势。7月全国乘用车厂商批发222万辆创当月历史新高，同比增长13%，环比下 降11%；1-7月全国乘用车厂商批发1,550万辆，同比增长12.4%。受零售调整的影响，7月乘用车批发同比增速比零售增速高7个百分点。7月自主车企批发 158万辆，同比增长20%，环比下降5%；主流合资车企批发44万辆，同比增长7%，环比下降21%；豪华车批发20万辆，同比下降16%，环比下降25%。 7月乘用车主力厂商总体批发格局持续变化，部分中段企业有逐步崛起迹象，如吉利汽车(00175)、东风日产、小鹏汽车(09868)、小米汽车、零跑汽车 (09863)等车企的环比表现较强。 | 总体乘用车 | | 25.7批 | 同比 | 环比6 | 25年累 | 同比 | 25.7零 | 同比 | 环比6 | 25年累 | 同比 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 发 | | 日 | 批 | | 售 | | 月 | 통 | | | a0 ...

Group 1 - The core viewpoint of the news is that Chongqing Changan Automobile Co., Ltd. has applied for a patent related to vehicle control methods and devices, which aims to enhance user driving experience in low-temperature environments [1] - The patent application, published as CN120481697A, was filed on June 2025 and involves technology for adjusting the state of charge (SOC) of vehicles based on predicted low temperatures [1] - The method includes obtaining the vehicle's operational status and the lowest predicted temperature, and controlling the range extender to charge the battery when the SOC difference exceeds preset thresholds [1] Group 2 - Chongqing Changan Automobile Co., Ltd. was established in 1996 and is primarily engaged in the automotive manufacturing industry [2] - The company has a registered capital of approximately 992.18 million RMB and has invested in 119 enterprises [2] - It has participated in 5000 bidding projects and holds 3129 trademark records and 5000 patent records, along with 964 administrative licenses [2]

Group 1 - The core point of the news is that Chongqing Changan Automobile Co., Ltd. has applied for a patent related to a stator component and motor, indicating its focus on innovation in automotive technology [1] - The patent application was filed on May 2025, and the publication number is CN120498154A, showcasing the company's ongoing efforts in research and development [1] - The patent involves a stator core with a wedge-shaped liquid channel designed to enhance sealing performance while fixing the oil injection seat to the stator core [1] Group 2 - Chongqing Changan Automobile Co., Ltd. was established in 1996 and is primarily engaged in the automotive manufacturing industry [2] - The company has a registered capital of approximately 992.18 million RMB and has invested in 119 enterprises [2] - Changan has participated in 5000 bidding projects and holds 3129 trademark records and 5000 patent records, indicating a strong presence in intellectual property [2]

Core Insights - The resilience of Chinese automotive exports is evolving from "product export" to "system export," focusing on local production, technology transfer, and brand development to enhance global competitiveness [1][3][6] Group 1: Export Growth and Market Expansion - In the first half of this year, China's automotive exports reached 3.083 million units, a year-on-year increase of 10.4% [1] - GAC Group has established a presence in five major regions, including the Middle East, Americas, Africa, Southeast Asia, and Eastern Europe, to enhance local production and ecological expansion [1][3] - BYD's overseas sales exceeded 470,000 units in the first half of the year, representing a growth of over 130% compared to the previous year [1][4] Group 2: Local Production and Strategic Initiatives - Companies like Xpeng Motors and Changan Automobile are investing in local production facilities to reduce trade barriers and transportation costs [3][4] - Changan's factory in Thailand has officially commenced production, with plans to achieve global sales of 5 million units by 2030, including 3 million smart connected new energy vehicles [3][4] - BYD is expanding its production bases in Thailand, Brazil, Hungary, and Uzbekistan, with a target of over 800,000 units in overseas sales by 2025 [4][5] Group 3: Globalization Strategies and Challenges - The trend of overseas factory establishment is coupled with localized operations, emphasizing stable supply chains and collaboration with local suppliers [2][6] - Companies are also exploring capital market strategies to accelerate globalization, as seen with Seres' H-share issuance plan [6][7] - The Asian market is projected to account for over 40% of China's new energy vehicle exports by 2024, driven by favorable policies and competitive pricing in Southeast Asia and the Middle East [7][8] Group 4: Recommendations for Sustainable Development - Industry experts suggest that companies should focus on product adaptation, partner selection, and after-sales service to build a resilient global system [7][8] - Establishing a mixed service network and a dedicated regulatory certification team is recommended to ensure smooth market entry and compliance [8]

Core Points - The China Securities New Energy Vehicle Industry Index rose by 2.22% to 2233.36 points, with a trading volume of 56.581 billion yuan [1] - The index has increased by 6.73% over the past month, 6.70% over the past three months, and 12.35% year-to-date [1] - The index includes 50 listed companies involved in various aspects of the new energy vehicle industry, reflecting the overall performance of leading companies in this sector [1] Index Composition - The top ten weighted companies in the index are: CATL (10.04%), Huichuan Technology (9.23%), BYD (8.03%), Changan Automobile (4.73%), Sanhua Intelligent Control (4.71%), Huayou Cobalt (4.44%), EVE Energy (4.23%), Tianqi Lithium (3.34%), Ganfeng Lithium (3.23%), and Gree Environmental (2.53%) [1] - The index is primarily composed of companies listed on the Shenzhen Stock Exchange (83.86%) and the Shanghai Stock Exchange (16.14%) [1] Industry Breakdown - The industry composition of the index shows that 58.17% is in the industrial sector, 22.85% in consumer discretionary, 17.81% in materials, and 1.17% in information technology [2] - The index samples are adjusted biannually, with adjustments occurring on the next trading day after the second Friday of June and December [2] - Public funds tracking the new energy vehicle sector include several ETFs from Ping An and Huatai-PineBridge [2]

【中泰汽车|何俊艺团队】汽车周报（08/04-08/10） 持续看好强势自主整车，年度重视整车&智驾&机器人 汽车行业首席分析师：何俊艺 S0740523020004 hjy@zts.com.cn 汽车行业分析师：汪越 S0740525010002 汽车行业分析师：刘欣畅 S0740522120003 liuxc03@zts.com.cn 汽车行业分析师：白臻哲 S0740524070006 baizz@zts.com.cn wangyue07@zts.com.cn 证券研究报告 2025年8月15日 目 录 一 、核心观点：持续看好强势自主整车，年度重视整车&智驾&机器人 二、行情跟踪：全行业&汽车板块&覆盖标的跟踪 三、行业景气度：终端&订单&出口总量+分车企数据跟踪 四、重要新闻 五、个股跟踪 六、风险提示 2 汽车行业分析师：毛䶮玄 S0740523020003 核心观点：持续看好强势自主整车，年度重视整车&智驾&机器人 n 周度核心数据： maoyx@zts.com.cn • ①内销：本周（8/04-8/10）上险总量38.3w，低于40w周度荣枯线（同比-21%/环比-18.5% ）。新能源周度上 ...

Core Viewpoint - The China Securities New Energy Vehicle Index (CS New Energy Vehicle, 399976) has shown a positive performance, with a recent increase of 2.16% and significant gains over the past month, three months, and year-to-date [1][2]. Group 1: Index Performance - The CS New Energy Vehicle Index has increased by 6.20% over the past month, 5.90% over the past three months, and 11.68% year-to-date [2]. - The index closed at 3278.87 points with a trading volume of 55.015 billion yuan [1]. Group 2: Index Composition - The top ten weighted companies in the CS New Energy Vehicle Index are: CATL (10.3%), Huichuan Technology (9.36%), BYD (8.29%), Changan Automobile (4.77%), Sanhua Intelligent Control (4.54%), Huayou Cobalt (4.42%), Yiwei Lithium Energy (4.16%), Tianqi Lithium (3.32%), Ganfeng Lithium (3.19%), and Gree Environmental (2.52%) [2]. - The index's holdings are primarily listed on the Shenzhen Stock Exchange (83.85%), followed by the Shanghai Stock Exchange (15.60%) and the Beijing Stock Exchange (0.55%) [2]. Group 3: Industry Breakdown - The industry composition of the index holdings includes: Industrial sector (58.51%), Consumer Discretionary (22.72%), Materials (17.64%), and Information Technology (1.14%) [2]. Group 4: Index Adjustment Mechanism - The index samples are adjusted biannually, with adjustments occurring on the next trading day after the second Friday of June and December [3]. - Weight factors are generally fixed until the next scheduled adjustment, with special circumstances allowing for temporary adjustments [3].

Group 1 - The military equipment restructuring concept declined by 1.89%, ranking among the top declines in the concept sector, with companies like Hunan Tianyan, Changcheng Military Industry, and Dong'an Power experiencing significant drops [2][3] - Among the military equipment restructuring concept stocks, two stocks saw price increases, with Huachuang Technology and Changan Automobile both rising by 0.39% [2][3] - The military equipment restructuring concept experienced a net outflow of 695 million yuan from main funds, with seven stocks seeing net outflows, and five stocks having outflows exceeding 50 million yuan [3][4] Group 2 - Changcheng Military Industry had the highest net outflow of main funds at 203 million yuan, with a price drop of 4.33% and a turnover rate of 13.61% [3][4] - Hunan Tianyan followed closely with a net outflow of 202 million yuan and a price decline of 5.39% [3][4] - Other notable outflows included Construction Industry with a net outflow of 108 million yuan and a price drop of 1.39% [3][4]

从资金流向上来看，当日乘用车板块主力资金净流出3.51亿元，游资资金净流入1200.67万元，散户资金净流入3.39亿元。乘用车板块个股资金流 向见下表： 证券之星消息，8月15日乘用车板块较上一交易日上涨0.82%，北汽蓝谷领涨。当日上证指数报收于3696.77，上涨0.83%。深证成指报收于 11634.67，上涨1.6%。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) | | --- | --- | --- | --- | --- | --- | | 600733 | 北汽蓝谷 | 8.92 | 3.48% | 144.63万 | 12.76亿 | | 601633 | 长城汽车 | 23.45 | 2.18% | 29.42万 | 6.88亿 | | 600104 | 上汽集团 | 18.40 | 1.88% | 97.76万 | 18.17亿 | | 000572 | 步写汽车 | 4.50 | 0.90% | - 35.79万 | 1.61亿 | | 601238 | 广汽集团 | 7.55 | 0.67% | 25.78万 | 1.95 ...

5年来，在复杂多变形势和多重约束条件下，四川与重庆两地深化合作、共谋发展，保持强劲发展动 能，交出靓丽成绩单，形成了目标同向、措施一体、协作共赢的高质量发展新局面，坚定了我们不断推 动成渝地区双城经济圈建设走深走实的信心决心。 特色优势产业做大做强，支撑区域协同发展展现新气象。近五年来，重庆成都坚持以《成渝地区双城经 济圈建设规划纲要》为指导，着眼服务国家战略全局，聚焦双核引领，聚力唱好"双城记"、共建"经济 圈"，大力推进两地双核联动发展。 巴蜀一家亲，川渝一盘棋。 成都向东、重庆向西，双核引领是"双城记"奏响和弦的关键。今年是成渝地区双城经济圈建设川渝相向 而行、携手并进的第5个年头，五年来，在成渝地区双城经济圈建设浪潮中，在川渝合作机制框架下， 重庆成都相向而行、同向发力，合作领域不断拓展。成都作为双城经济圈极核城市，正携手重庆主城都 市区积极推动双核联动联建走深走实。 在"双城记"战略引领下，川渝两地A股上市公司主动担当，通过资本赋能、产业协同与科技创新，成为 区域高质量发展的核心引擎。在资本赋能方面，西南证券主动担当持续为川渝地区实体经济融资，助力 产业升级与区域资源整合。 在科技创新与产业协同领域 ...