新浪科技讯 1月7日早间消息，针对"取消年终奖"传闻，长安汽车今日发布声明称，为不实信息，2025 年长安汽车整体经营态势稳健，公司已根据年度经营实绩，按照激励标准制定并推进相应激励计划，切 实保障员工权益，助力企业可持续发展。 声明称，此类不实信息已对长安汽车的品牌声誉及正常经营秩序造成严重负面影响。互联网不是法外之 地，对于编造、传播虚假信息的行为，公司将依法采取措施，坚决捍卫自身合法权益，共同维护清朗网 络环境与公平市场竞争秩序。 责任编辑：屠欣怡 新浪科技讯 1月7日早间消息，针对"取消年终奖"传闻，长安汽车今日发布声明称，为不实信息，2025 年长安汽车整体经营态势稳健，公司已根据年度经营实绩，按照激励标准制定并推进相应激励计划，切 实保障员工权益，助力企业可持续发展。 声明称，此类不实信息已对长安汽车的品牌声誉及正常经营秩序造成严重负面影响。互联网不是法外之 地，对于编造、传播虚假信息的行为，公司将依法采取措施，坚决捍卫自身合法权益，共同维护清朗网 络环境与公平市场竞争秩序。 责任编辑：屠欣怡 ...

人民财讯1月7日电，针对近期网络上出现的"长安汽车（000625）取消年终奖"等不实信息，长安汽车1月7日发布声明称，2025年，长安汽车整体经营态势稳 健，公司已根据年度经营实绩，按照激励标准制定并推进相应激励计划，切实保障员工权益，助力企业可持续发展。对于编造、传播虚假信息的行为，公司 将依法采取措施，坚决捍卫自身合法权益。 ...

Group 1 - The core viewpoint of the article highlights the rapid deployment of investment projects by newly established Asset Investment Companies (AICs) under joint-stock banks, focusing on strategic emerging industries and preferring high-quality subsidiaries of listed companies [1][3][4] Group 2 - Since its establishment on November 16, 2025, Xingyin Financial Asset Investment Co., Ltd. has invested over 6 billion yuan in more than 10 projects, targeting sectors such as semiconductors, photovoltaics, lithium mining, and engineering plastics across various regions [2][3] - Xingyin Investment has participated in capital increases for three subsidiaries of listed companies, including a 500 million yuan investment in Sichuan Zhiyuan Lithium Industry, a 300 million yuan investment in Jiangsu Jinfang Technology, and a 700 million yuan investment in Dongyangguang Fluorine [2] Group 3 - The investment strategies of joint-stock bank AICs differ from those of state-owned bank AICs, with the former focusing on emerging industries and technology sectors, while the latter historically concentrated on traditional infrastructure [4][5] - The operational model of joint-stock bank AICs is characterized by a shorter decision-making chain and higher approval efficiency, emphasizing equity investments for high growth returns [4][5] Group 4 - The establishment of AICs has reduced capital consumption for banks, allowing both state-owned and joint-stock banks to complement each other's advantages in serving technology innovation enterprises and projects [6]

Group 1 - The solid-state battery sector continues to rise, with companies like HaiXi Communications and DaoShi Technology seeing gains of over 10% [1] - Donut Lab announced the launch of the world's first mass-producible all-solid-state battery at the CES in Las Vegas, boasting an energy density of 400Wh/kg, enabling longer range and lighter structure [1][2] - The all-solid-state battery can be fully charged in just 5 minutes and supports safe, reliable full discharge without significant capacity degradation over its lifespan, which can reach up to 100,000 cycles [1] Group 2 - The battery is designed without flammable liquid electrolytes, eliminating the risk of thermal runaway and dendrite formation, and has been rigorously tested under extreme conditions [2] - Donut Lab claims that the materials used for the solid-state battery are abundant, low-cost, and geopolitically secure, avoiding reliance on rare or sensitive elements [2] - Verge Motorcycles will be the first to use Donut Lab's solid-state battery, allowing for a 10-minute charge that provides up to 60 kilometers of range per minute of charging, with a long-range version capable of 600 kilometers on a single charge [3] Group 3 - Traditional lithium-ion batteries are nearing their theoretical energy density limit of 300Wh/kg, making it difficult to meet the demands for higher energy density and safety in electric vehicles and other applications [3] - Solid-state batteries are recognized as a disruptive technology that can achieve higher energy density and safety, prompting global companies and research teams to innovate to avoid falling behind [3] - The year 2026 is identified as a critical period for equipment localization in the solid-state battery industry [3]

Core Viewpoint - Changan Automobile, despite achieving a sales volume of 2.913 million vehicles in 2025, has decided to cancel year-end bonuses for employees due to not meeting certain performance targets, leading to employee dissatisfaction [1][2][8]. Group 1: Company Performance - Changan Automobile's total sales for 2025 reached 2.913 million vehicles, marking an 8.5% year-on-year increase [1][9]. - The company reported a revenue of approximately 286 billion yuan for the year [1][9]. - The sales of new energy vehicles (NEVs) reached 1.11 million units, reflecting a significant year-on-year growth of 51.1% [8][9]. Group 2: Employee Compensation - The cancellation of year-end bonuses has caused unrest among employees, as bonuses constitute about 40% of their total compensation [2][8]. - Employees expressed frustration on social media regarding the cancellation, especially given the company's strong sales performance [2][4][8]. - The company has indicated that there may be alternative incentives announced before the Lunar New Year, but no specific plans have been disclosed yet [1][8]. Group 3: Industry Context - Changan Automobile's performance stands out in the industry, as it is one of the few companies to achieve close to its sales targets, with a completion rate of 97.1% [9][10]. - The automotive industry has faced challenges, including price competition and declining profits, which have impacted employee compensation structures across the sector [12].

Core Insights - The solid-state battery sector continues to rise, with companies like HaiXi Communications and DaoShi Technology seeing gains of over 10% [1] - Donut Lab announced the launch of the world's first mass-producible all-solid-state battery at CES 2023, boasting an energy density of 400Wh/kg and a design life of up to 100,000 cycles [1][2] - The all-solid-state battery is claimed to be safer than traditional lithium-ion batteries, with no flammable liquid electrolytes and minimal capacity degradation under extreme conditions [1][2] Industry Developments - Donut Lab's solid-state battery is made from abundant, low-cost materials, avoiding reliance on rare or sensitive elements, and is expected to be cheaper than lithium-ion batteries [2] - Verge Motorcycles will be the first to use Donut Lab's solid-state battery, allowing for a 10-minute charge time and a range of up to 600 kilometers on a single charge [2] - The solid-state battery technology is recognized as disruptive, prompting global companies and research teams to innovate to avoid falling behind [3] Company Progress - Companies like CATL and BYD are advancing in solid-state battery technology, with CATL expected to achieve small-scale production by 2027 and BYD planning to start mass demonstration applications around the same time [5] - Various automotive manufacturers, including SAIC and Changan, are also working on solid-state battery integration, with targets for production and vehicle testing set for 2026 and 2027 [6]

Industry Information - CATL plans to apply sodium batteries on a large scale in fields such as battery swapping, passenger cars, commercial vehicles, and energy storage by 2026, indicating a new trend of "sodium-lithium dual star shining" [9] - The National Bureau of Statistics reported that profits in the equipment manufacturing industry increased by 7.7% year-on-year from January to November 2025, significantly contributing to overall industrial profit growth [9] - Gansu's 14th Five-Year Plan emphasizes the cultivation of new consumption types, including digital, green, and intelligent consumption, to stimulate economic growth [10] - NIO's battery swapping network has expanded significantly, with over 1,000 new battery swapping stations established within a year [12] - The Chinese automotive market is seeing a surge in electric vehicle sales, with a market share of 79.2% for pure electric models in Israel, led by the Chery Jetour 7 [16][17] Policy Information - The Ministry of Industry and Information Technology has initiated a carbon footprint declaration for automotive power batteries, aiming to establish a management system by the end of 2026 [26] - The 2026 "old-for-new" vehicle subsidy policy will adjust to a percentage of the vehicle price, with a maximum subsidy of 20,000 yuan for new energy vehicles [26][27] - The State Council's guidelines promote high-quality development of the power grid, supporting the construction of charging infrastructure and optimizing the connection process for charging facilities [39] - The implementation of the "Beautiful China Pilot Zone" action plan aims to establish a multi-modal green transportation system and enhance the charging infrastructure for electric vehicles [23] - The Guangdong Shenzhen District has issued management measures for new energy vehicle charging and swapping facilities, mandating a minimum installation ratio for charging facilities in new buildings [32][33]

Market Performance - The passenger car sector increased by 2.13% compared to the previous trading day, with GAC Group leading the gains [1] - The Shanghai Composite Index closed at 4083.67, up 1.5%, while the Shenzhen Component Index closed at 14022.55, up 1.4% [1] Individual Stock Performance - GAC Group (601238) closed at 8.56, up 4.52%, with a trading volume of 1.0564 million shares and a transaction value of 889 million [1] - Seres (601127) closed at 125.32, up 3.31%, with a trading volume of 375,700 shares and a transaction value of 4.678 billion [1] - BAIC BluePark (600733) closed at 8.29, up 2.98%, with a trading volume of 2.1173 million shares and a transaction value of 1.737 billion [1] - BYD (002594) closed at 66.66, up 1.92%, with a trading volume of 521,800 shares and a transaction value of 5.185 billion [1] - SAIC Motor (600104) closed at 15.54, up 1.83%, with a trading volume of 682,900 shares and a transaction value of 1.054 billion [1] - Changan Automobile (000625) closed at 11.97, up 1.18%, with a trading volume of 937,800 shares and a transaction value of 1.118 billion [1] - Great Wall Motors (601633) closed at 22.51, up 0.94%, with a trading volume of 201,600 shares and a transaction value of 451 million [1] Fund Flow Analysis - The passenger car sector saw a net inflow of 1.073 billion from main funds, while retail investors experienced a net outflow of 557 million [1] - Main fund inflows and outflows for key stocks include: - BYD: Net inflow of 464 million, with retail outflows of 268 million [2] - Seres: Net inflow of 266,200, with retail outflows of 160 million [2] - BAIC BluePark: Net inflow of 116 million, with retail outflows of 52.5 million [2] - Changan Automobile: Net inflow of 84.26 million, with retail outflows of 52.5 million [2] - SAIC Motor: Net inflow of 80.56 million, with retail outflows of 26.28 million [2] - GAC Group: Net inflow of 27.5 million, with retail outflows of 39.66 million [2] - Great Wall Motors: Net inflow of 2.07 million, with retail inflows of 1.35 million [2]

Market Performance - On January 6, A-shares saw a strong opening and closing, with the Shanghai Composite Index rising by 1.5% to 4083.67 points, marking a 13-day consecutive increase [1] - The Shenzhen Component Index increased by 1.4% to 14022.55 points, while the ChiNext Index rose by 0.75% to 3319.29 points [1] - Sectors that performed well included titanium dioxide, space-based internet, and Beidou navigation, while sectors such as F5G concept, optical communication modules, and CPO concept experienced declines [1] Fund Manager Changes - On January 6, 14 fund managers experienced changes in their positions, with 9 funds announcing departures of fund managers on the same day [3] - In the past 30 days (December 7 to January 6), a total of 585 fund managers left their positions across various funds [3] - Reasons for changes included retirement, product expiration, and job changes, with specific examples including three managers leaving due to job changes and two due to product expiration [3][4] Fund Manager Performance - Chen Liejiang, a fund manager at Shangzheng Fund, managed assets totaling 124 million yuan, with the highest return product being Shangzheng Zhengxiang Bond C, achieving a return of 121.20% over 1 year and 262 days [5] - He Ming, a new fund manager at Mingya Fund, managed assets of 271 million yuan, with the highest return product being Mingya Jiuan 90-day Holding Period Bond C, achieving a return of 165.55% over 2 years and 75 days [5] Fund Company Research Activity - In the past month, Huaxia Fund conducted the most company research, engaging with 41 listed companies, followed by Bosera Fund with 38 and Southern Fund with 33 [6][7] - The computer equipment industry was the most researched sector, with 132 instances of fund company engagement, followed by the automotive parts industry with 115 instances [7] Recent Fund Research Focus - The most researched stock in the past month was Zhongke Shuguang, with 117 fund management companies participating in the research, followed by Haiguang Information and Changan Automobile [8][10] - In the past week, the top researched company was Entropy Technology, with 34 fund institutions conducting research [9][10]

Group 1 - In December 2025, public fund research enthusiasm surged, with 155 public fund institutions participating in A-share research, covering 451 stocks across 29 industries, totaling 3,472 research instances [1] - Among the stocks researched in December 2025, 59 stocks saw monthly gains exceeding 20%, with the top ten all rising over 50%, led by Chaojie Co., which increased by 133.91% [1] - The electronics and machinery equipment sectors were the most favored by public fund research, with 64 stocks in the electronics sector receiving attention and 505 instances of research in the machinery equipment sector [1] Group 2 - Chang'an Automobile was the most researched stock with 88 instances, focusing on its transition to a smart low-carbon travel technology company while advancing in new energy and globalization [2] - In December 2025, 71 public fund institutions were actively involved in research, with Huaxia Fund leading with 100 instances, primarily focusing on the machinery equipment and electronics sectors [2] - Starstone Investment suggests that 2025 is likely the bottom of the current A-share profit cycle, with a clearer earnings outlook expected to support market fundamentals, moving away from reliance on liquidity-driven valuation [2] Group 3 - Starstone Investment recommends focusing on two main investment themes: high-growth industries represented by artificial intelligence, innovative pharmaceuticals, machinery equipment, and military industry, and sectors like transportation, discretionary consumption, and real estate that are improving in supply-demand relationships [3]