导读：在售价大幅下探之后，比亚迪"夏"将承担起抢夺家用MPV、家用SUV市场的重任，和注重商务 定位的腾势D9形成差异化。 （文 / 观察者网 周盛明 编辑 / 高莘） 11月4日，比亚迪MPV车型"2026款夏"正式上市。新车共推出四款车型，指导价21.98万—27.98万元， 并提供限时补贴政策，补贴后售价区间为19.68万—25.98万元。 在外观方面，2026款夏延续了年初上市时的整体风格，但新增了墨竹青、鎏光紫金双拼、月影黑金双拼 三种车色，使整车在家庭使用场景中更具辨识度。比亚迪希望借此淡化MPV"刻板商务形象"，把夏打 造成为一个更能体现生活方式的家用产品。 比亚迪2026款夏 今年1月，2025款比亚迪夏上市，售价为24.98万—30.98万元。值得注意的是，2026款比亚迪夏的指导价 在此基础上下降3万元，补贴价则在此基础上下降超过5万元，甚至进入20万以内。 此外，2026款夏和2025款搭载同样的电池包配置，根据配置不同分别为20.39kWh与36.6kWh。其中，低 配、次低配车型的官方CLTC纯电续航依旧为100km，但通过能耗优化，中高配版本的官方CLTC纯电续 航提升至218km ...

Core Insights - The automotive market in China continues to show positive trends with October 2023 sales reaching 3.322 million units, a year-on-year increase of 8.8% [2] - Cumulative sales from January to October 2023 stand at 27.687 million units, reflecting a year-on-year growth of 12.4% [2] - The inventory situation indicates a comprehensive inventory coefficient of 1.2 for October, which is a 6.4% increase year-on-year but a 13.3% decrease month-on-month [2] - The new energy vehicle (NEV) segment is performing particularly well, with October sales of 1.715 million units, a year-on-year growth of 19.9% and a penetration rate of 51.6% [2] Sales and Inventory - October 2023 automotive sales were 3.322 million units, up 8.8% year-on-year [2] - Total automotive sales for the first ten months of 2023 reached 27.687 million units, marking a 12.4% increase compared to the same period last year [2] - The comprehensive inventory coefficient for October was 1.2, which is a 6.4% increase year-on-year and a 13.3% decrease from the previous month [2] - The dealer inventory warning index stood at 52.6%, up 2.1 percentage points year-on-year but down 1.9 percentage points month-on-month [2] New Energy Vehicles - NEV sales in October 2023 were 1.715 million units, representing a year-on-year increase of 19.9% and achieving a penetration rate of 51.6% [2] - From January to October 2023, NEV sales totaled 12.943 million units, with a year-on-year growth of 32.7% and a penetration rate of 46.7% [2] Investment Strategy - The automotive sector is advised to focus on undervalued leading companies in both vehicle manufacturing and parts due to improving performance [3] - Key companies to watch include established domestic brands in the NEV sector such as BYD, Changan Automobile, Geely, and Li Auto [3] - Stable, undervalued parts manufacturers like Huayu Automotive and Fuyao Glass are also recommended [3] - The report highlights opportunities in the domestic replacement market driven by the "domestic circulation" strategy [3] Market Performance - The automotive sector experienced a weekly decline of 2.11%, ranking 26th among 31 sectors tracked by Shenwan [5] - The automotive industry underperformed compared to the CSI 300 index, which saw declines of -0.18% [5] - In the sub-sectors, automotive services increased by 0.51%, while automotive parts and other categories saw declines [5] Notable Stocks - The top five gaining stocks in the automotive sector this week were Langbo Technology, Yingli Automotive, Xinpeng Co., Huafeng Co., and Qin'an Co. [6] - The top five losing stocks included Biaobang Co., Xinquan Co., Haoen Automotive, Sanlian Forging, and Beite Technology [7]

智通财经记者 | 宋佳楠 片来源：中国工程院 吴凯早期在武汉理工大学任教，后投身企业研发一线。1999年，他就与宁德时代创始人曾毓群相识，在 ATL担任技术副总裁，2011年加入宁德时代担任首席科学家。ATL是曾毓群、陈棠华、梁少康等人在香 港创立的公司，专注于消费电子锂电池研发。 11月21日，中国工程院2025年院士增选结果揭晓，来自多家民营企业的专家成功当选，其中包括比亚迪 首席科学家廉玉波、宁德时代首席科学家吴凯、金发科技首席技术官黄险波等。 公开资料显示，廉玉波现任比亚迪首席科学家、汽车总工程师兼汽车工程研究院院长。1964年出生的 他，于1986年毕业于南京航空航天大学飞机制造工程专业，后于2000年获得南京大学高级工商管理硕士 学位。 | 序号 | 姓名 | 出生年月 | 工作单位 | | --- | --- | --- | --- | | 1 | 陈新 | 1960年2月 | 广东工业大学 | | 2 | 陈勇 | 1967年8月 | 中国商用飞机有限责任公司 | | 3 | 冯江华 | 1964年11月 | 中车株洲电力机车研究所有限公司 | | 4 | 高仕斌 | 1964年11月 | 西 ...

除中国一汽外，New Territory Technology Company Limited、国投招商、比亚迪（002594）、光远投 资、上汽恒旭、北汽产投、徐工云汉基金等多家国内外知名机构为卓驭股东。 人民财讯11月21日电，卓驭科技(简称"卓驭")宣布，获得来自中国第一汽车集团有限公司(简称"中国一 汽")超36亿元的战略投资。此次交易完成后，卓驭投后估值超人民币100亿元。同时，卓驭将作为独立 法人实体运营，保持现有管理团队、技术路线与品牌战略不变。中国一汽作为战略股东，将主要通过业 务协同与资源支持赋能卓驭。 ...

设计层面，汉L唐L以Loong Face龙颜美学造就中国人血脉里的高级感，视觉效果极富年轻化、运动感。为满足用户对个性化的进阶追求，汉L唐L共同 推出橄榄绿全新车色，汉L额外加入西子蓝新色，将东方美学与现代制造工艺相互融合。 其中，橄榄绿采用低饱和度、高反射金属漆面，通过纳米级高透色浆与微米级超细铝粉的精密配比，呈现出绿中透金的渐变效果。在阳光下呈现清新明 亮的视觉效果，而在室内则转为深邃墨绿，契合当代精英"于静谧中蕴藏活力"的生活态度。汉L独有的西子蓝创新引入巴斯夫珠光包覆型铝粉，在强光下呈 现高饱和度珠光金属白，弱光时切换为低饱和度清澈碧蓝，生动还原西湖"淡妆浓抹总相宜"的诗意美感。 汉L专为个性用户打造了黑化运动套件，包含悬浮黑顶、黑化车窗饰条等元素，配合车内戟灰运动内饰，营造出极具战斗气息的运动风格。此外，在汉 L上备受好评的琉光银配色，此次也向唐L用户开放选装。 11月21日，比亚迪划时代旗舰车型汉L唐L携新车色及OTA在2025广州车展正式发布。其中，汉L EV、唐L EV搭载超级e平台全域千伏架构， 以"兆瓦闪充 油电同速"终结纯电补能焦虑；汉L DM、唐L DM标配第五代DM技术，兼顾超强性能 ...

智通财经APP获悉，11月21日，乘联分会秘书长崔东树发布10月新能源车锂电池市场分析。其中指出，10月动力电池走势较强，出口和内销的表现均很 好。纯电动车目前主力电池能量密度区间在125到160之间，近期高能量密度的稍有改善。10月，我国动力和其它电池合计产量为171GWh，同比增长 49%。1-10月，我国动力和其它电池累计产量为1293GWh，累计同比增长45%。 电池企业的竞争格局形成宁德时代和比亚迪两者相对较强的特征。宁德时代的磷酸铁锂电池的占比份额从2024年已经反超比亚迪，插混低迷。行业竞争变 化快。亿纬锂能和中创新航表现较强。欣旺达、瑞浦兰钧、蜂巢能源、极电新能源的提升明显。由于比亚迪全面转型磷酸铁锂电池，因此宁德时代、中创 新航、LG、蜂巢等前四家的三元电池优势更加明显，近期巨湾技研、亿纬锂能表现较好。 动力电池的装车占比 | 单位:GWh | 动力电池产量 | | 三元电池产量 | | 磷酸铁锂电池 | 动力电池产量 | | | 三元电池产量 | 磷酸铁锂电池 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ...

Investment Rating - The report indicates a positive investment outlook for Chinese enterprises going global, with a projected increase in foreign direct investment (FDI) to 1.16 trillion RMB in 2024, reflecting an 11.30% year-on-year growth [8]. Core Insights - Chinese enterprises are actively exploring new pathways for international expansion, adapting strategies in response to geopolitical challenges and evolving market conditions [4][8]. - The ASEAN region has emerged as a key destination for Chinese investment, with its share of China's outbound investment rising from 6.34% in 2014 to 17.88% in 2024 [8]. - The structure of China's outbound investment is shifting, with significant increases in the wholesale, retail, and manufacturing sectors, indicating a deeper integration into global value chains [8][52]. Summary by Sections Part A: Challenges and Pathways for Chinese Enterprises Going Global - The Chinese government is committed to high-quality outbound investment, emphasizing the importance of maintaining a stable international economic environment despite rising geopolitical tensions [18][19]. - The share of China's exports in global trade is projected to reach 14.64% in 2024, maintaining its position as the world's largest exporter [19][23]. - Chinese enterprises are increasingly focusing on the ASEAN region for investment, with a notable rise in direct investment since the implementation of the RCEP [44][52]. Part B: Financial Support for Outbound Expansion - Chinese financial institutions are enhancing their overseas presence, with major banks establishing branches in numerous countries to support outbound enterprises [9]. - There is a strong emphasis on integrating domestic and international resources, with banks providing cross-border credit and financing solutions for projects under the Belt and Road Initiative [9][11]. - Innovative financial products and services are being developed to support overseas investments, including specialized loans for infrastructure projects and comprehensive solutions for cross-border e-commerce [9][11]. Part C: Future Outlook and Recommendations - Recommendations include optimizing overseas network construction, enhancing multi-tiered financial service systems, and expanding the use of cross-border RMB [12][13]. - A comprehensive risk management system is suggested to help enterprises navigate geopolitical uncertainties and market volatility [12][13]. - Strengthening collaboration between financial institutions and industries is crucial for supporting enterprises in their global expansion efforts [12][13].

Core Insights - Shenzhen's capital market has shown remarkable performance in the "14th Five-Year Plan" period, with a total of 424 A-share listed companies and a market capitalization exceeding 11 trillion yuan, ranking second nationwide [1][6] - The direct financing scale in Shenzhen has reached a historic high of over 2.8 trillion yuan, marking a more than 50% increase compared to the "13th Five-Year Plan" period, positioning it third among major cities in China [3] - The innovation and competitiveness of market entities in Shenzhen have significantly improved, with total market capitalization surpassing 11.5 trillion yuan and projected revenues exceeding 6.8 trillion yuan for 2024 [6] Financing and Investment - The cumulative equity financing in Shenzhen has exceeded 400 billion yuan, with 110 companies raising over 110 billion yuan through IPOs [3] - The bond market financing, including ABS, has surpassed 2.4 trillion yuan, with public REITs leading in fundraising [3] - Shenzhen's private equity and venture capital fund scale is expected to reach nearly 1.37 trillion yuan by September 2025, supporting over 13,800 small and medium-sized enterprises [4] Market Dynamics - The R&D investment of Shenzhen-listed companies is projected to reach 210.3 billion yuan in 2024, a 91.35% increase from 2020, with BYD leading the investment at over 54 billion yuan [6] - In the first three quarters of this year, 24 securities companies in Shenzhen achieved revenues exceeding 100 billion yuan, while 31 public fund management companies managed assets totaling 12.3 trillion yuan [6] Financial Innovations and Investor Protection - Shenzhen has made significant strides in financial innovations, with over 800 billion yuan raised through technology-themed public funds and more than 5 trillion yuan in total assets for these funds [8] - The city has implemented various investor protection mechanisms, with nearly 990 billion yuan in cumulative dividends distributed by listed companies during the "14th Five-Year Plan" period [9] Future Outlook - Looking ahead to the "15th Five-Year Plan," Shenzhen aims to focus on developing new productive forces, deepening reforms, enhancing financial services for the real economy, and protecting investors' rights [10]

| 序号 | 姓名 | 出生年月 | 工作单位 | | --- | --- | --- | --- | | 1 | 陈新 | 1960年2月 | 广东工业大学 | | 2 | 陈勇 | 1967年8月 | 中国商用飞机有限责任公司 | | 3 | 冯江丰 | 1964年11月 | 中车株洲电力机车研究所有限公司 | | শ | 高仕斌 | 1964年11月 | 西南交通大学 | | ર | 黄维娜(女) | 1968年10月 | 中国航发贵阳发动机设计研究所 | | 6 | 廉玉波 | 1964年4月 | 比亚迪股份有限公司 | | 7 | 齐润东 | 1962年10月 | 中国航天科工集团第二研究院 | | 8 | 王永庆 | 1965年2月 | 中国航空工业集团公司沈阳飞机设计研究所 | | 9 | 王培全 | 1962年2月 | 中国兵器工业集团第七〇研究所 | | 10 | 苑世剑 | 1963年1月 | 哈尔滨工业大学 | | 11 | 张锦岚, | 1963年12月 | 中国船舶集团有限公司第七一九研究所 | | 序号 | 姓名 | 出生年月 | 工作单位 | | --- | --- | --- ...

广西宁福新能源项目是多氟多新材料股份有限公司(下称"多氟多")迄今为止投资规模最大的异地项目。 近日，在已建20GWh(吉瓦时)锂电池项目的基础上，总投资150亿元(人民币，下同)、新增产能100GWh 的氟芯电池全产业链项目又签约落地，为南宁新能源产业注入新一轮强劲动能。 中新网南宁11月21日电 (韦静胡光磊黄艳梅)在南宁东部新城广西宁福新能源科技有限公司的生产车间 内，生产线全速运转、机械臂精准协作。在这里，每日超10万颗电池下线，发往全球市场。 "我们充分发挥国有资本招商引领作用，依托规模近千亿元的基金，围绕新能源汽车、铝精深加工等战 略性新兴产业，持续'补链、强链、壮链'，成功落地比亚迪、多氟多等标志性项目，逐步构建起以链主 企业为核心、上下游协同发展的产业生态，让'链式集群'激活产业'蝶变效应'。"南宁产业投资集团有限 责任公司董事长黄启年说。 在此基础上，南宁产业投资集团围绕链主企业重点布局引入宸宇富基、龙电华鑫、盈博莱、巨石新能源 等一批新能源产业高新技术企业，以扩展新能源产业链，并组建铝基新材料集团，投建20万吨新能源电 池铝箔技改项目、年产20GWh铝基新材料涂碳项目、年产10万吨高精电池 ...