Industry Information - The EU-China Chamber of Commerce welcomes the soft landing of the electric vehicle agreement between China and the EU, which is expected to boost market confidence and foster cooperation in the electric vehicle industry [7][9] - The second Intelligent Driving Competition concluded in Wenzhou, with the Star Epoch ES winning first place, followed by Momenta's solution-equipped vehicles [8] - Gotion High-Tech's Ganzhou base was recognized as an innovative small and medium-sized enterprise in Jiangxi, contributing to the upgrade of the new energy industry [9] - Honeycomb Energy launched the world's largest 80 kWh plug-in hybrid battery, featuring a 6% increase in energy density and rapid charging capabilities [10] - China aims to accelerate breakthroughs in solid-state batteries and advanced autonomous driving technologies in 2026 [11] - Shenzhen successfully implemented the first billing for electric vehicle discharging to the grid, with a user earning approximately 15 yuan for discharging 20 kWh [12] - A new sodium-sulfur battery developed by a Chinese research team achieved an energy density of 2021 Wh/kg, significantly surpassing existing lithium-ion batteries [14] - The Trump administration approved the export of NVIDIA's H200 chips to China, which may enhance AI capabilities in the region [15] - A meeting was held by three departments to address the issue of chaotic price wars in the electric vehicle industry, emphasizing the need for fair competition [19] - Honeycomb Energy introduced a new 3.5 generation pulse charging technology that reduces charging time by 25% without additional costs [20] - The State Council reported a 25.4% increase in exports of direct current charging piles and energy storage batteries to the EU by 2025 [21] - The city of Qingyuan in Guangdong will issue 1.8172 million yuan in charging subsidies by 2025 [22] - In December 2025, electric vehicle sales in Australia surpassed those of fuel vehicles for the first time, with a total of 35,058 electric vehicles sold [23] - The General Administration of Customs reported a 26.2% increase in lithium battery exports in 2025 [24] - The China Automobile Association released a report indicating that nearly 80% of the market share for self-developed NOA solutions in passenger vehicles is held by domestic manufacturers [25] - The Market Supervision Administration is establishing a national standardization committee for the recycling and utilization of power batteries [26] - The domestic power battery installation volume is projected to reach 769.7 GWh in 2025, a year-on-year increase of 40.4% [27] - The coverage rate of charging and swapping stations in Hanzhong County increased from 35% to 82% [28] - By the end of 2025, Guizhou Province plans to build over 250,000 charging facilities and 59 swapping stations [29] - Canada has reduced tariffs on electric vehicles imported from China to 6.1%, significantly benefiting Chinese manufacturers [30] - The first cross-province iron-sea intermodal transport of new energy vehicles through Xiamen Port took place in 2026 [31] - Huawei announced upgrades to its ADS 4.1 system, enhancing safety and user experience features [32] Policy Information - The Guangxi Energy Bureau issued guidelines for the construction and operation management of electric vehicle charging infrastructure [33] - Zhengzhou's Commerce Bureau announced a subsidy program for replacing old vehicles and appliances in 2026 [34] - The National Development and Reform Commission plans to introduce a comprehensive management approach for the recycling of power batteries [35]

Group 1: Market Overview - The Chinese new energy vehicle (NEV) market continues to experience rapid growth, with a production volume of 16.524 million units in 2025, representing a year-on-year increase of 25.1% and a cumulative penetration rate of 47.5% [5][7] - The market is driven by policy support, product innovation, and export growth, contributing to a high-quality development direction [7] Group 2: Market Structure - By December 2025, the market share of cars (CAR) was 37.5%, down 6.1 percentage points year-on-year, while SUVs and MPVs accounted for 48.7% and 4.2%, respectively [11] - The truck market share increased to 6.0%, and the bus market share was 3.6%. The truck segment saw a significant year-on-year growth of 113.7% [11] Group 3: Battery Installation Trends - The installed capacity of NEV power batteries reached 92.0 GWh in December 2025, marking a year-on-year growth of 31.9% [17] - The average battery capacity per vehicle was 62.5 kWh, up 23.2% year-on-year, with BYD, Tesla, and Xiaomi being the main contributors to the installed capacity [17] Group 4: Battery Cell Structure - In 2025, square battery cells accounted for 98.1% of the market, while cylindrical and soft-pack cells made up 1.4% and 0.4%, respectively [18] - Lithium iron phosphate (LFP) batteries are becoming the mainstream choice in the NEV sector due to their cost, safety, and technological advantages [18] Group 5: Battery Supplier Market Share - By December 2025, the top three battery companies held a market share of 74.2%, with CATL leading at 49.8% [20] - Companies like Zhongxin Innovation and LG showed significant year-on-year growth rates of 83.7% and 104.4%, respectively [20] Group 6: Drive Motor Supplier Trends - The top ten drive motor suppliers accounted for 62.5% of the market share, with most companies experiencing a month-on-month increase in supply [22] Group 7: Fast Charging Battery Technology - Fast charging batteries represent a systemic engineering approach focused on ultra-high charging rates, impacting materials, structure, thermal management, and system integration [30] - The core value of fast charging technology lies in redefining the refueling experience for electric vehicles, extending beyond just fast charging [32] - Current challenges in scaling fast charging technology include various systemic issues [36] - Chinese battery companies have established a leading competitive position globally in the fast charging sector, with distinct technological paths [40]

（文章来源：证券日报） 证券日报网1月20日讯 ，卡倍亿在接受调研者提问时表示，在新能源汽车领域，公司已进入比亚迪、特 斯拉、吉利、蔚来、理想、小鹏、小米等整车厂商的供应链。 ...

智通财经记者 | 高菁 去年，宁德时代(300750.SZ)、比亚迪(002594.SZ)市占率合计下滑近5个百分点。 中国汽车动力电池产业创新联盟近日发布最新数据显示，2025年，国内动力电池累计装车量769.7 GWh，累计同比增长40.4%。 其中，三元电池累计装车量144.1 GWh，占总装车量18.7%，累计同比增长3.7%；磷酸铁锂电池累计装车量625.3 GWh，占总装车量81.2%，累计同比增长 52.9%。 磷酸铁锂和三元电池是国内动力电池两大主流路线。凭借着安全性和成本等优势，国内磷酸铁锂电池的市场份额在2021年7月超越三元电池，此后一直保 持领先。 2025年，宁德时代以333.57 GWh的装车量占据了国内43.42%的市场份额，稳居国内动力电池企业榜首。紧随其后的比亚迪去年在国内共实现了165.77 GWh的动力电池装车量，市占率达21.58%。 图片来源：中国汽车动力电池产业创新联盟 反观国内动力电池装车量排名第三至十五的二、三线电池厂，仅两家市占率出现下滑，其余均同比有所增长。国内二、三线电池厂商正在加速向上追赶。 卓创资讯富宝锂电分析师董云帆此前向智通财经指出，当前二、三线电 ...

2025年，据比亚迪和特斯拉发布的数据，比亚迪全年纯电汽车销量约为226万，首次超过特斯拉（约为 163万辆），成为全球第一。广汽2025年出海成绩单显示，全年出口超13万辆，同比增长45%，创造了 两年销量翻三倍的高速增长。小鹏公布的交付成绩显示，2025年1-12月，小鹏汽车海外市场交付量达 45,008台，同比增长96%，仅在2025年一年内，小鹏便新打入了接近30个全新市场。 外界常把国产新能源的突围，总结为"弯道超车"的逆袭神话，但是粤系车走向全球汽车业中心、直面全 球竞争的风浪，或许离不开三张"王牌"的加持。 一是技术优势，1995年，王传福辞去北京有色金属研究院工作，在深圳布吉镇的厂房里十年如一日钻 研"三电"技术，刀片电池、DM-i超级混动、超级e平台成为比亚迪的技术护城河；广汽也在抢占固态电 池这一新技术路线的身位，全固态电池中试产线已建成投产，为下一代电动车的性能飞跃储备了核心技 术；小鹏致力于为汽车打造更"聪明的大脑和灵魂"， 第二代VLA模型将在2026年第一季度正式推送， 给自驾搭建大模型基座。 南方财经 21世纪经济报道记者 赖镇桃 报道 全国第一外贸大省，再摸新高。 1月19日， ...

金力传动成立于2011年，主要从事微型电机和微型传动系统的研发、生产与销售，产品主要应用于以智 能清洁服务机器人领域。 金力传动客户包括科沃斯、石头科技、追觅科技、美的集团、大疆、小米集团、比亚迪、优必选、方太 集团、凯迪仕、哈啰出行、美团出行、ABB等国际国内一线品牌企业。 业绩方面，2023年、2024年及2025年前四个月（报告期内），公司营业收入分别为3.01亿元、5.97亿元 及2.39亿元，净利润分别为1148.96万元、6398.85万元及1913.97万元，公司业绩大幅增长。 | 项目 | 2025年4月30日 | 2024年12月31日 | 2023年12月31日 | | --- | --- | --- | --- | | 资产总计(万元) | 73.330.49 | 71.392.25 | 49.392.85 | | 股东权益合计(万元) | 40.047.32 | 38.977.47 | 34,101.62 | | 归属于申请挂牌公司的股东权益合 | 40.047.32 | 38.977.47 | 34,101.62 | | 计(万元) | | | | | 母股净资产(元) | 5.70 ...

智通财经APP获悉，高盛发布研报称，比亚迪电子(00285)管理层预期，其主要品牌客户即将推出的新款 折叠手机，相比以往型号将为公司带来更高的单机价值，有望支持公司未来增长。同时，管理层对AI 基建周期保持乐观，并正于全球及本地客户中寻求机遇。比亚迪电子管理层又预期，2026年汽车零件业 务出货量将会上升，其中悬挂系统出货量将加快提升，而ADAS系统亦将渗透至更多经济车型。该行对 比亚迪电子聚焦领先客户的策略，以及将产品线扩展至AI基建的举措维持正面看法，重申"买入"评级， 予目标价53.08港元。 ...

Investment Rating - The report maintains a "Recommended" rating for the automotive industry [1] Core Insights - The implementation of the China-Europe electric vehicle price commitment mechanism is expected to stabilize sales expectations for Chinese electric vehicles in Europe and promote the high-end and localized transformation of automakers [5][13] - Multiple provinces have opened applications for the 2026 automotive replacement subsidy, indicating a clear path for local governments to implement the policy [14] - Great Wall Motors has launched the "Guiyuan" platform, which is the world's first native AI all-power platform, designed to support various power forms and enhance development efficiency [6][14] - The report expresses a positive outlook for 2026, highlighting opportunities in the high-end upgrade of domestic brands and the acceleration of smart technology penetration [15][16] Summary by Sections Recent Performance - The automotive sector outperformed the Shanghai Composite Index with a 1-week increase of 0.5% from January 12 to January 16, 2026, while the Shanghai Composite Index decreased by 0.4% [17] - The performance of individual stocks varied, with notable increases in companies like Ideal Auto (+2.4%) and declines in others like Li Auto (-3.5%) [17][23] Key Companies and Earnings Forecast - Key companies recommended include: - Jianghuai Automobile - Leap Motor - Great Wall Motors - BYD - SAIC Motor - China National Heavy Duty Truck [7][8] - Earnings per share (EPS) forecasts for selected companies show growth, with Great Wall Motors expected to reach an EPS of 2.03 in 2026 [8] Industry Indicators - In December 2025, automotive production and sales reached 3.296 million and 3.272 million units, respectively, with a year-on-year decrease of 2.1% and 6.2% [42] - New energy vehicles accounted for approximately 52% of total new vehicle sales, indicating a significant market shift towards electrification [42]

2025年，谁成为车市大赢家？谁是失意者？通过新出炉的2025年车企销量成绩单不难发现，行业竞争格局又发生了变化。 自主品牌凭借电动化优势，全面占据市场主导地位并挤压合资车企空间，前两年的"趋势"已经演变成定势。同时，行业竞 争的焦点，正从单纯的销量和电动化，转向智能化、全球化及高质量增长。 车企销量前十中，自主品牌不仅稳占半壁江山，累计销量更是几家合资车企总销量的2.5倍。头部企业阵营中，吉利实现了 47%的高增长，"龙头老大"比亚迪虽然国内零售量出现下滑，但国外增速领跑，去年累计销量依然实现断层式领先。同为 造车新势力，特斯拉跌出新能源榜单前三，"流量王"小米首次进入该榜TOP10。 数据 去年新能源车渗透率稳超50% 崔东树：下半年价格战已回归价值战 据中国汽车流通协会乘用车市场信息联席分会最新销量数据统计，2025年全年累计销量为2374.4万辆，同比增长3.8%。其 中，新能源汽车全年销量为1280.9万辆，同比增长17.6%。按车型种类统计，轿车全年销量为1080.9万辆，同比增长3.1%； SUV全年销量为1187.8万辆，同比增长5%；MPV全年销量为105.8万辆，同比下跌2.3%。 对于去 ...

此次合作标志着比亚迪储能在东欧市场的进一步拓展。此前，该公司已在葡萄牙、英国、沙特、阿联酋等地交付多个百兆瓦时级以上项目。保加利 亚项目的快速落地，为其在欧洲储能市场的长期布局提供了新支点。 关注公众号，点击公众号主页右上角" ··· "，设置星标 "⭐" ，关注 鑫椤储能 资讯~ 1月19日，比亚迪储能官微宣布，其与欧洲能源企业ContourGlobal合作建设的500MWh独立式电池储能系统（BESS）已于1月8日在保加利亚 Maritsa East 3电厂正式投入运营。 该项目位于保加利亚普罗夫迪夫地区，是目前东欧规模最大的独立式储能项目之一，也是比亚迪储能在该区域迄今落地的最大单体项目。双方于 2024年12月签署合作协议，仅一个月后即实现并网投运，显示出较高的执行效率。 项目由ContourGlobal主导开发，比亚迪储能提供全套储能系统解决方案。ContourGlobal首席执行官Antonio Cammisecra邀请比亚迪代表出席 了投运及剪彩仪式。双方表示，该项目旨在支持保加利亚传统火电厂区向可再生能源转型，提升电网灵活性和稳定性。 预订电话：18964001371（微信同） ——The E ...