天眼查App显示，近日，重庆长安汽车股份有限公司申请的"电池包保护装置、电池包保护系统及车 辆"专利公布。摘要显示，电池包保护装置被配置为能够分别与车架、电池包以及动力舱组件连接。电 池包保护装置包括第一支撑件和第二支撑件。第一支撑件设置于车辆的动力舱组件；第一支撑件的沿其 长度方向的两端中的任一端，分别与动力舱组件和车辆的车架连接。第二支撑件设置于副车架与电池包 之间，且设置于第一支撑件远离动力舱组件的一侧；第二支撑件与副车架之间存在距离。车辆在受到冲 击的情况下，冲击力可以通过第一支撑件和传递至车辆的车身，以减少对电池包的冲击力，避免电池包 由于受到冲击力产生爆炸。 ...

Core Viewpoint - The passenger car sector experienced a slight decline of 0.18% on December 24, with Haima Automobile leading the drop, while the overall stock market indices showed positive movements, with the Shanghai Composite Index rising by 0.53% and the Shenzhen Component Index increasing by 0.88% [1] Group 1: Market Performance - The Shanghai Composite Index closed at 3940.95, up 0.53% [1] - The Shenzhen Component Index closed at 13486.42, up 0.88% [1] - The passenger car sector saw a net outflow of 7.87 billion yuan from main funds, while retail investors contributed a net inflow of 6.13 billion yuan [1] Group 2: Individual Stock Performance - Changan Automobile (000625) closed at 11.93, with a slight increase of 0.51% and a trading volume of 639,000 shares, amounting to 760 million yuan [1] - GAC Group (601238) closed at 8.21, up 0.37%, with a trading volume of 240,800 shares, totaling 198 million yuan [1] - BYD (002594) closed at 94.42, down 0.41%, with a trading volume of 192,800 shares, amounting to 1.819 billion yuan [1] - Haima Automobile (000572) led the decline with a drop of 1.97%, closing at 8.98, with a trading volume of 2.7857 million shares, totaling 2.514 billion yuan [1] Group 3: Fund Flow Analysis - GAC Group saw a main fund net outflow of 2.9128 million yuan, with retail investors contributing a net inflow of 996.65 million yuan [2] - Great Wall Motors (601633) experienced a main fund net outflow of 14.755 million yuan, while retail investors had a net inflow of 1.91547 million yuan [2] - BYD faced a significant main fund net outflow of 199 million yuan, but retail investors contributed a net inflow of 82.7275 million yuan [2]

文 | 花生说科技，作者 | 李皙寅·花生，编辑 | 黑松 大变局往往从一个小事件开始。 2025年12月20日，重庆内环快速路的车流如梭，有一辆车却格外醒目。 一辆长安汽车旗下深蓝SL03，它挂着的"渝AD0001Z"号牌，是全国首块L3级自动驾驶专用正式号牌。 在指定路段，系统将接管全部动态驾驶任务，事故责任首次从驾驶员转向车企。中国自动驾驶加速走向 合规商用。 为啥花落长安家？ 还是那句老话，机会留给有准备的人。长安汽车的L3之路探索早已有之。 回溯其技术脉络，时间线非常清晰：2014年启动驾驶辅助研发，2017年专攻L3级技术，2021年在深蓝 品牌首次应用，2024年成为首批试点车企，2025年完成产品测试与安全评估。 从技术积累到场景验证，再到合规落地，这是长安汽车一步一步走出来的。 更关键的是，其L3系统已在8D般的重庆，基于复杂路况中完成百万公里测试，经过远超国标的场景测 试后，给出了零事故、零违规的结果。 这样的数据，给了政策放行的底气。 重庆不仅开放核心道路作为试点路段，还创新推出智能网联汽车专用号段，更是组建专班为长安提供全 流程服务。 花生说科技调研地方汽车产业多年，这种车企技术攻坚+ ...

Group 1: Industry Developments - The Chinese automotive market is at a critical intersection of policy opportunities and year-end push as December 2025 approaches [1] - The Ministry of Industry and Information Technology (MIIT) has granted road access licenses for two L3 level autonomous driving vehicles from Changan Automobile and BAIC Group [2] - The MIIT is proposing seven mandatory national standards for automobiles, including safety requirements for door handles [6] Group 2: New Product Launches - Great Wall Motors has launched the Ora 5 SUV with a limited-time price starting at 91,800 yuan, featuring two battery options and advanced AI integration [3][5] - The Ora 5 is equipped with the Coffee OS 3 system and a third-generation driver assistance system, offering features like city NOA and memory parking [5] Group 3: Strategic Partnerships - CATL and Lantu have signed a ten-year deepening cooperation agreement focusing on technology application, product supply, and global market collaboration [7][9] Group 4: Corporate Actions - Zotye Auto plans to dispose of up to 3% of its shares to repay historical debts, with a maximum of 151 million shares to be sold [10] - GAC Group has initiated a Business Unit reform to enhance internal resource integration and operational efficiency, focusing on two brands, Haobo and Aion [11][13] - Hozon Auto is progressing with its bankruptcy restructuring, having selected a management trustee to oversee the process [14][16] Group 5: Regulatory Changes - The State Administration for Market Regulation and the Ministry of Ecology and Environment have issued new guidelines for the evaluation of vehicle inspection institutions to enhance regulatory standards [17]

Core Viewpoint - The Ministry of Industry and Information Technology of China has approved the first batch of smart connected vehicles equipped with L3 level conditional autonomous driving functions, specifically models from Changan Automobile and BAIC Blue Valley Magna Automotive [1] Group 1: Approved Models - Changan's SC7000AAARBEV electric sedan can achieve autonomous driving in congested traffic environments on highways and urban expressways at a maximum speed of 50 km/h, limited to specific routes in Chongqing [1] - The Arcfox BJ7001A61NBEV electric sedan can perform autonomous driving on highways and urban expressways at a maximum speed of 80 km/h, restricted to designated routes in Beijing [1] Group 2: Next Steps - Changan Automobile and Beijing Travel Automotive Service will conduct road trials for the approved models in the specified areas [1] - The Ministry of Industry and Information Technology will collaborate with relevant departments and local authorities to enhance vehicle operation monitoring and safety assurance, while continuously improving the management and regulatory framework for smart connected vehicles [1]

Core Insights - The first L3 conditional autonomous driving license "渝AD0001Z" has been issued in Chongqing, granted to Changan Automobile, marking a significant step towards the commercialization of autonomous vehicles in China [1][4] - The L3 level, defined as "conditional automation," allows vehicles to perform all dynamic driving tasks under specific conditions, although the driver must remain attentive and ready to take control when prompted [1][2] Group 1: Industry Developments - The Ministry of Industry and Information Technology has conditionally approved two automotive companies to submit applications for L3 autonomous vehicle products, indicating a shift from technology validation to mass production applications in China's autonomous driving industry [1][2] - The approval of L3 autonomous vehicles is seen as a critical step towards industrialization, with pilot programs aimed at validating technology and establishing a foundation for large-scale applications [2][3] Group 2: Regulatory Framework - The licenses for the two models are not a blanket approval; they come with specific restrictions regarding operational scenarios, road types, urban areas, and speed limits [2][3] - The Changan SC7000AAARBEV model can operate in congested traffic at a maximum speed of 50 km/h on designated roads in Chongqing, while the Extreme Fox BJ7001A61NBEV model can achieve L3 automation at speeds up to 80 km/h on certain highways in Beijing [3] Group 3: Operational Aspects - The two models will not be available for private users initially; instead, they will be operated by affiliated ride-hailing service companies to manage the deployment of L3 autonomous driving [3] - The operational management aims to reduce uncertainties associated with the initial rollout of L3 autonomous driving, allowing consumers to experience the technology through ride-hailing services [3] Group 4: Government Support and Future Outlook - The issuance of autonomous vehicle licenses reflects the government's commitment to fostering innovation while ensuring safety through prudent regulation [4] - The ongoing pilot programs for smart connected vehicles are expected to inject strong momentum into technological innovation and upgrades within the automotive sector in China [4]

Group 1 - The core material for electrolytes, lithium hexafluorophosphate, has seen a price increase that exceeds market expectations, reaching an average price of 177,250 yuan per ton, which is over a 200% increase since early November [1] - The demand from energy storage and new energy vehicles has triggered a boom in the lithium battery industry chain, marking a turning point in industry prosperity since December 2025, with price increases expected to continue until the second quarter of 2026 due to supply-demand mismatches [1] - As of December 24, 2025, the CSI New Energy Vehicle Industry Index (930997) rose by 0.36%, with notable increases in component stocks such as Weichai Power (8.32%) and Zhongmin Resources (4.77%) [1] Group 2 - The CSI New Energy Vehicle Industry Index closely tracks the performance of 50 listed companies involved in the new energy vehicle sector, including manufacturers of electric vehicles, electric motors, battery equipment, and materials [2] - As of November 28, 2025, the top ten weighted stocks in the CSI New Energy Vehicle Industry Index accounted for 51.96% of the index, with leading companies including CATL, BYD, and Ganfeng Lithium [2]

Core Insights - The transition from L2 to L3 represents a critical leap from driver assistance to autonomous driving, with responsibility potentially shared among drivers, manufacturers, and autonomous system suppliers [2] Investment Summary - The first L3-level vehicles have been approved for road use, marking a significant milestone in China's autonomous driving industry, transitioning from laboratory testing to legitimate road applications [3] - The approval establishes a clear safety baseline by allowing conditional and limited scenarios for testing, promoting innovation while ensuring safety [3] - The high reliability and safety redundancy requirements of L3 systems will drive technological upgrades across the entire supply chain, including perception hardware, computing platforms, and software algorithms [3] Future Outlook - Pilot programs are expected to expand from current highway and congested scenarios to more complex urban roads, with legal and technical standards evolving based on pilot experiences to support broader adoption [3] - The high costs associated with vehicles equipped with advanced autonomous driving features need to decrease through technological advancements and economies of scale for widespread consumer adoption [3][4] Investment Strategy and Focus - The automotive sector should focus on undervalued leading manufacturers and component suppliers benefiting from performance improvements, particularly in the fields of new energy and intelligent vehicles [5] - Recommended companies include early movers in the new energy sector such as BYD, Changan Automobile, Geely, and Li Auto; stable low-valuation component leaders like Huayu Automotive and Fuyao Glass; and key players in electrification and intelligence like Desay SV, Ruikeda, and Kobot [5] - The strategy also highlights opportunities arising from domestic substitution due to the "domestic circulation" initiative, with companies like Lingdian Electric Control and Sanhua Intelligent Control being of interest [5] Key Focus Companies - The investment focus for the week includes BYD, Li Auto, Top Group, Desay SV, and Shangsheng Electronics [6]

Core Viewpoint - The issuance of the first L3-level autonomous driving vehicle special license plates in Beijing marks a significant step towards the commercialization of autonomous vehicles in China, transitioning from testing to mass production [1][4][25]. Group 1: License Issuance and Vehicle Details - The first three L3-level autonomous driving vehicles, manufactured by BAIC's Arcfox, received special license plates from the Beijing Traffic Management Bureau, indicating the official entry into the L3 autonomous driving era [1][4]. - The vehicles are equipped with advanced technology, including three LiDARs and multiple cameras for 360-degree perception, and are capable of operating under specific conditions on designated roads [15][18]. - The vehicles are currently limited to use by Beijing Outing Automobile Service Co., and are not available for individual consumer purchase at this stage [6][15]. Group 2: Operational Conditions and Regulations - The L3 autonomous driving function is permitted only on specific roads in Beijing, such as the Jing-Tai Expressway and the Airport North Line Expressway, with a maximum speed limit of 80 km/h [8][9]. - Drivers must remain in the driver's seat and be ready to take control of the vehicle in emergencies, reflecting a cautious regulatory approach to the deployment of autonomous driving technology [8][9]. Group 3: Future Prospects and Comparisons - The L3-level vehicles are part of a broader pilot program that includes other manufacturers, such as Changan Automobile, which has also received approval for its L3 vehicles in Chongqing [19][20]. - The pilot programs in Beijing and Chongqing differ in focus, with Beijing emphasizing high-standard traffic scenarios and Chongqing testing in more complex urban environments [20]. - The approval of L3 vehicles is seen as a foundational step towards the commercial application of autonomous driving technology in China, with further developments expected in 2024 [22][25].

Core Insights - The first L3 conditional autonomous driving license "渝AD0001Z" has been issued in Chongqing, granted to Changan Automobile, marking a significant step towards the commercialization of autonomous vehicles in China [1][4] - The L3 level, defined as "conditional automation," allows vehicles to perform all dynamic driving tasks under specific conditions, although the driver must remain attentive and ready to take control when prompted [1][2] Group 1: Industry Developments - The Ministry of Industry and Information Technology has conditionally approved two automotive companies to submit applications for L3 autonomous vehicle products, indicating a shift from technology validation to mass production applications in China's autonomous driving industry [1][2] - The approval of L3 autonomous vehicles is seen as a critical step towards industrialization, with pilot programs aimed at validating technology and establishing a foundation for large-scale applications [2][3] Group 2: Regulatory Framework - The licenses for the two models are not a blanket approval; they come with specific regulations regarding operational scenarios, road types, urban areas, and speed limits [2][3] - The Changan SC7000AAARBEV model can operate in congested traffic at a maximum speed of 50 km/h on designated roads in Chongqing, while the Extreme Fox BJ7001A61NBEV model can achieve L3 automation at speeds up to 80 km/h on certain highways in Beijing [3] Group 3: Operational Aspects - The two models will not be available for private users initially; instead, they will be operated by affiliated ride-hailing service companies to manage the deployment of L3 autonomous driving [3] - The operational management aims to reduce uncertainties associated with the initial rollout of L3 autonomous driving, allowing consumers to experience the technology through ride-hailing services [3] Group 4: Government Support and Future Outlook - The approval of autonomous vehicle products reflects the government's commitment to fostering innovation while ensuring safety through prudent regulation [4] - The ongoing pilot programs for smart connected vehicles are expected to inject strong momentum into technological innovation and upgrades within the automotive industry in China [4]