据比亚迪汽车微博消息，比亚迪辅助驾驶车型保有量超256万辆，天神之眼每天生成数据超1.6亿公里， 12月辅助驾驶车型销售191041辆。 ...

Bernstein分析师在一份报告中写道，比亚迪今年的电动汽车交付量或可达到540万辆。该公司去年交付 了460万辆汽车，同比增长8%。这些分析师表示，虽然比亚迪在中国保持着主导地位，但其在中国的电 动汽车市场份额已从2025年初的30%降至11月的25%，主要原因是产品周期相对平淡，以及吉利、零跑 汽车和小鹏汽车等主要竞争对手积极推出新品。他们补充说，今年比亚迪正寻求通过对其电动汽车平台 技术进行重大升级来为其产品周期注入新的活力。此外，海外销量可能会成为越来越重要的盈利驱动因 素，其2025年出口量将达到105万辆。Bernstein维持对比亚迪的强于大盘评级，并将其目标价维持在 130.00港元。该股收于99.20港元。 ...

Overall Situation - In December 2025, China's passenger car terminal sales reached 2.278 million units, a month-on-month increase of 13.6% [1] - New energy passenger car sales totaled 1.334 million units in November 2025, with a month-on-month growth of 9.0% [1] - Breakdown of new energy vehicle sales: pure electric vehicles sold 781,000 units (up 0.9%), plug-in hybrids sold 412,000 units (up 23%), and range-extended vehicles sold 142,000 units (up 24.6%) [1] - The penetration rate of new energy vehicles in the passenger car market reached 57.4% in December, slightly down from 60.1% in the previous month [1] - Total new energy passenger car sales for 2025 are projected at 12.338 million units, a 15% increase from 10.744 million units in 2024 [1] - The annual penetration rate for new energy vehicles in 2025 is expected to be 53.4%, marking the first time it exceeds 50% [1] Automotive Market Overview - The expiration of the vehicle purchase tax exemption has led to outstanding performance in new energy terminal retail, achieving a historical high [3] - Despite the expected year-end buying spree due to the tax exemption, many provinces have exhausted their budgets for trade-in policies, creating a counteracting effect on purchase incentives [3] Brand Rankings - The top-selling pure electric models in December 2025 include Tesla Model Y (500,000 units), Star Wish (400,000 units), and Xiaomi YU7 (390,000 units) [6][7] - The top-selling plug-in hybrid models include BYD Qin PLUS (360,000 units), Titanium 7 (310,000 units), and BYD Song Pro (170,000 units) [8][9] - The top-selling range-extended models include Aion M7 (123,000 units), Ideal L6 (93,000 units), and Aion M8 (82,000 units) [10]

Core Insights - Recently, Beijing Xulun Technology Co., Ltd. completed a strategic financing round exceeding 100 million yuan in A4 round [1] - The financing was led by Northern Huachuang Industrial Investment Fund and Novartis Strategic Investment, with A3 round led by Beijing Electric Control Industrial Investment Fund and Qianhai Ark Fund [1] - The funds will be used for the second phase of expansion of UV Tape/DAF product lines, semiconductor packaging material R&D, and upgrading customer delivery systems [1] Company Overview - Xulun Technology has a core team from top domestic and international universities and research institutions, with rich experience in materials science and chemical engineering [1] - The company focuses on developing high-end semiconductor adhesive films and tapes, starting from basic resins such as acrylic, epoxy, and organic silicon [1] Infrastructure and Operations - Xulun Technology has a 5,000 square meter application R&D center in Beijing and a pilot base with a thousand-level clean coating facility in Hebei [2] - The company also has semiconductor-grade precision coating production lines with thousand-level and hundred-level clean standards in Jiangsu, and warehouses and technical support subsidiaries in Shanghai, Suzhou, Shenzhen, and Chengdu [2] Product Applications - The products of Xulun Technology are applied in critical process scenarios such as wafer thinning, cutting, chip mounting and stacking, substrate interlayer and line insulation, wafer-level packaging, and 2.5D/3D packaging [2] - The company serves various fields including RF chips, computing power chips, storage chips, and HBM [2]

Core Viewpoint - The Hong Kong stock market in 2025 is experiencing a resurgence in capital activities driven by a dual engine of "IPO recovery and refinancing revival," positioning it back at the forefront of global capital markets [1][11]. IPO Market - The total amount raised through IPOs in Hong Kong reached 285.6 billion HKD in 2025, making it the largest IPO fundraising exchange globally [1][11]. - Major contributors to the IPO market include established companies such as CATL, which raised 41 billion HKD through an A to H share offering, and Zijin Mining, which raised 28.7 billion HKD through a spin-off listing [3][13]. Refinancing Market - The total amount raised through refinancing (including convertible bonds) surged to 273.5 billion HKD, a 417% increase from 53.3 billion HKD in 2024, bringing the combined total for IPOs and refinancing to 559.1 billion HKD, nearly quadrupling from 1.414 billion HKD in 2024 [1][11]. - The consumer discretionary sector dominated the refinancing market with 98.9 billion HKD, accounting for 36% of the total, supported by significant projects like BYD's 43.5 billion HKD issuance [3][13]. Major Refinancing Projects - The top refinancing projects in 2025 included: - BYD: 43.5 billion HKD - Xiaomi: 42.6 billion HKD - NIO: 13.1 billion HKD from two issuances [4][14]. Market Dynamics - A total of 63 companies completed two or more refinancing rounds in 2025, indicating a trend of "on-demand financing" to support business expansion and R&D [5][15]. - Overnight bookbuilding became the predominant method for refinancing, accounting for over 95% of the total refinancing scale, with all top ten refinancing projects executed through this method [6][16]. Quarterly Trends - The refinancing peaks occurred in the first and third quarters, with amounts reaching 106.5 billion HKD and 93.4 billion HKD, respectively, aligning with the performance cycles of the Hang Seng Index [7][18]. - The first and third quarters coincided with phases of rising market sentiment, allowing companies to capitalize on high stock prices for optimal fundraising [8][18].

Core Viewpoint - The article provides an overview of new vehicle models set to launch in January 2026, detailing specifications, pricing, and market segments for various manufacturers, highlighting the competitive landscape in the automotive industry. Group 1: New Vehicle Launches - BYD's Song Pro DM-i is scheduled for release on January 10, 2026, positioned as an A SUV with a price range of 12.28 to 13.08 million yuan, featuring a 1.5L plug-in hybrid engine and a pure electric range of 220 km [9]. - Chery's QQ Ice Cream will also launch on January 10, 2026, classified as an A00 HB, with a price range of 4.39 to 4.99 million yuan, powered by a pure electric engine and offering a range of 220 km [17]. - The Chery Little Ant is set to debut on the same day, with a price range of 5.49 to 6.09 million yuan and a pure electric range of 271 km [25]. - Dongfeng Nissan's Qichen D V DD-i will launch on January 13, 2026, as an A SUV, priced between 12.99 and 14.99 million yuan, featuring a 1.5T plug-in hybrid engine [33]. - BAIC's ARCFOX Kaola S will also be released on January 13, 2026, as an A SUV, with prices ranging from 9.98 to 11.98 million yuan and a pure electric range of 520 km [41]. Group 2: Specifications and Features - The Song Pro DM-i has dimensions of 4,735 mm in length, 1,860 mm in width, and 1,690 mm in height, with a wheelbase of 2,712 mm [9]. - The QQ Ice Cream measures 3,030 mm in length, 1,496 mm in width, and 1,637 mm in height, with a wheelbase of 1,960 mm [17]. - The Little Ant has dimensions of 3,242 mm in length, 1,670 mm in width, and 1,550 mm in height, with a wheelbase of 2,150 mm [25]. - The Qichen D V DD-i features dimensions of 4,620 mm in length, 1,917 mm in width, and 1,629 mm in height, with a wheelbase of 2,700 mm [33]. - The ARCFOX Kaola S has dimensions of 4,500 mm in length, 1,870 mm in width, and 1,675 mm in height, with a wheelbase of 2,820 mm [41]. Group 3: Market Positioning - The Song Pro DM-i targets the A SUV segment, indicating a focus on the growing demand for hybrid vehicles in the SUV market [9]. - The QQ Ice Cream and Little Ant are positioned in the A00 HB segment, appealing to budget-conscious consumers seeking electric vehicles [17][25]. - The Qichen D V DD-i and ARCFOX Kaola S are also targeting the A SUV segment, reflecting the competitive nature of this market with multiple new entrants [33][41].

根据中国汽车工业协会（下称"中汽协"）在1月14日披露的数据，2025年，中国汽车产销分别 完成3453.1万辆和3440万辆，同比分别增长10.4%和9.4%，连续17年位居全球第一。 中汽协副秘书长陈士华指出，过去五年，中国汽车产销规模已从约2500万辆跃升至超3400万 辆，行业营业收入突破10万亿元。 结构性增长最显著的体现是新能源车的引领。 2025年，新能源汽车国内销量达1387.5万辆， 同比增长19.8%，增速远超行业整体。其中新能源乘用车渗透率高达54%，意味着每卖出两辆 乘用车，至少有一辆是新能源车。 中国品牌成为增长的另一核心引擎。 2025年中国品牌乘用车销量达2093.6万辆，同比增长 16.5%，市占率升至69.5%，较2024年同期提升4.3个百分点。这一份额创下自2018年以来的 历史新高。 这一成绩的取得，并非依靠过往激烈的"价格战"。乘联分会秘书长崔东树曾发文表示，2025年 乘用车行业促销与降价行为均回归理性，市场秩序明显改善。数据显示，2025年前十个月上市 新车中仅156款降价，规模相对温和。 增长主要来自政策引导与需求释放。崔东树分析，"以旧换新"等国家促消费政策发 ...

关注公众号，点击公众号主页右上角" ··· "，设置星标 "⭐" ，关注 鑫椤锂电 资讯~ 本文来源：鑫椤锂电 ICC 鑫椤资讯年终盘点： 2025年储能电池市场盘点： 据 ICC 鑫椤资讯统计， 2025 年全球储能系统出货 498GWh ，同比 增长 99% 。其中国内系统厂 家出货 404GWh ，同比增长 138.7% ； 海外系统厂家出货 94GWh ， 同比 增长 16% ，特斯拉一 枝独秀。 数据来源： ICC 鑫椤资讯、 LIRA 莱睿咨询 数据来源： ICC 鑫椤资讯、 LIRA 莱睿咨询 展望 2026 年， 6.25MWh 、 6.9MWh 、 7MW 、 8MWh 等大容量储能系统市场需求将会加速释 放，预计储能市场依然会维持较快增速， 储能系统出货有望达到 900GWh ，同比 增长 81% 。 本文作者：龙先生/17601223168（微信同） 鑫椤报告预售： 2025-2029年全球储能市场运行趋势及竞争策略研究报告 ▼ 2025年碳酸锂市场盘点： 2025年电解液市场盘点： 2025年铜箔市场盘点： 2025年钴酸锂市场盘点： 2025年三元材料市场盘点： 2025年磷酸铁锂市 ...

12月，我国动力和储能电池合计出口32.6GWh，环比增长1.3%，同比增长49.2%，占当月销量16.4%。其中，动力电池出口量为19.0GWh，占总出口量 58.4%，环比减少10.4%，同比增长47.1%；储能电池出口量为13.6GWh，占总出口量41.6%，环比增长23.9%，同比增长52.2%。 智通财经APP获悉，1月16日，中国汽车动力电池产业创新联盟发布2025年12月动力电池月度信息。数据显示，12月，我国动力和储能电池合计产量为 201.7GWh，环比增长14.4%，同比增长62.1%。1-12月，我国动力和储能电池累计产量为1755.6GWh，累计同比增长60.1%。 销量方面： 12月，我国动力和储能电池销量为199.3GWh，环比增长11.1%，同比增长57.5%。其中，动力电池销量为143.8GWh，占总销量72.1%，环比增长7.3%，同 比增长49.2%；储能电池销量为55.6GWh，占总销量27.9%，环比增长22.4%，同比增长84.0%。 1-12月，我国动力和储能电池累计销量为1700.5GWh，累计同比增长63.6%。其中，动力电池累计销量为1200.9GWh，占总销 ...

格隆汇1月16日丨海伦哲(300201.SZ)在投资者互动平台表示，比亚迪目前不是及安盾消防的客户。 ...