提到广货 时代在变，"广货名片"也在迭代升级。 升级的不只是商品，更是广东智造穿越周期、通达世界的底 气。 1月15日，"广货行天下"春季行动发布会暨家电专场促销活动将在佛山举行，正式拉开2026年度广东产 品线上促销活动的序幕。其中，一季度将举行12场线上线下同步协同促销活动，并举办18场"广货行天 下"春季行动系列配套活动。 40多年持续不断输出爆款 广货何以行天下？ 广货行天下 靠的是爆款"超能打" 好的产品，永远是打开市场的第一把钥匙。 你的印象是什么？ 在20世纪80年代，广货就是风靡全国的珠江水、广东粮、岭南衣、粤家电；如今，广货是通过全链布 局、强势出海的 智能手机、无人机、新能源汽车。 一组数据足以说明广货的爆款之多：跨境电商进出口规模9年扩大66倍，在全国占比超过1/3，规模稳居 全国第一；全国每产生4件快递，就有1件来自广东……无论你身处何方，收到的快递都有很大几率是来 自广东。 广氏菠萝啤与潮牌联名，利工民推出年轻化服饰品牌LIGOMIN，双鱼体育研发全球首发双鱼AI智眸球 检系统……这些承载几代人记忆的老字号，不只会"回忆杀"，老品牌早已学会用年轻语言讲老故事。 双鱼体育的自动发球机。 ...

2026.01. 13 本文字数：898，阅读时长大约2分钟 1月13日，比亚迪前高管赵长江发文称，已正式加入鸿蒙智行旗下智界汽车，现任智界汽车执行董事 及执行副总裁。 赵长江在多个公开平台中表示："在比亚迪的宝贵经历，让我深谙坚守用户价值、技术创新、推动产 业进阶的深层要义。感谢比亚迪的悉心培养，致敬奇瑞等中国车企深耕造车赛道的技术坚守与创新突 破，致敬华为以硬核技术深度推动汽车产业智能化转型的卓越贡献。" 作者 | 第一财经 黄琳 封图来源｜ 刘亦菲微博 在加入智界之前，赵长江已在比亚迪工作超过15年，从一线销售一路晋升。2017年，赵长江升任比 亚迪汽车销售公司总经理，成为比亚迪最年轻的高管。2021年，比亚迪有意发展高端品牌，与奔驰 的合资公司腾势重新换血，赵长江成为比亚迪腾势销售事业部总经理。 第 一 财 经 持 续 追 踪 财 经 热 点 。 若 您 掌 握 公 司 动 态 、 行 业 趋 势 、 金 融 事 件 等 有 价 值 的 线 索 ， 欢 迎 提 供 。 专 用 邮 箱 ： bianjibu@yicai.com （注：我们会对线索进行核实。您的隐私将严格保密。） 推荐阅读 哈梅内伊喊话特 ...

在加入智界之前，赵长江已在比亚迪工作超过15年，从一线销售一路晋升。2017年，赵长江升任比亚迪 汽车销售公司总经理，成为比亚迪最年轻的高管。2021年，比亚迪有意发展高端品牌，与奔驰的合资公 司腾势重新换血，赵长江成为比亚迪腾势销售事业部总经理。 赵长江在多个公开平台中表示："在比亚迪的宝贵经历，让我深谙坚守用户价值、技术创新、推动产业 进阶的深层要义。感谢比亚迪的悉心培养，致敬奇瑞等中国车企深耕造车赛道的技术坚守与创新突破， 致敬华为以硬核技术深度推动汽车产业智能化转型的卓越贡献。" #比亚迪前高管赵长江加入智界汽车#【#智界汽车来了一个比亚迪高管#】1月13日，比亚迪前高管赵长 江发文称，已正式加入鸿蒙智行旗下智界汽车，现任智界汽车执行董事及执行副总裁。 ...

经过为期一年多的谈判，欧盟针对中国制造电动汽车反补贴关税取得重大进展——由"价格承诺"机制替代高额反补贴征税。 1月12日，据商务部官网消息，为落实中欧领导人会晤共识，妥善解决欧盟对华电动汽车案，中欧双方本着相互尊重的态度，进行了多轮磋商。双方一致认 为，有必要向对欧盟出口纯电动汽车的中国出口商，提供关于价格承诺的通用指导，以便中国出口商可通过更加实用、有针对性且符合世贸组织规则的方 式，解决相关关注。 乘联分会秘书长崔东树也表示，中欧以"价格承诺"替代高额关税的磋商成果，是双方务实共赢的重要突破。"这一机制为中国电动车保留了欧盟市场核心准 入通道，规避了高额关税的冲击，稳定了市场准入基础，也稳定了行业预期。"崔东树告诉记者。 出口价将提高专家：建议单家车企提交报价 在崔东树看来，此前欧盟拟征收的高额反补贴税叠加基础关税，综合税率一度接近45%，这对中国电动车出口欧洲的成本与定价体系造成了巨大冲击，部分 车企甚至面临退出欧盟市场的风险。 2023年10月，欧盟委员会启动对中国进口电动汽车的反补贴调查。2024年10月，欧盟成员国投票通过，在现有10%的税收基础上，对中国制造的电动汽车征 收最高35.3%反补贴 ...

Group 1 - Zhao Changjiang, former executive of BYD, has officially joined Zhijie Automobile under Hongmeng Zhixing as Executive Director and Executive Vice President [1] - Zhao expressed gratitude for his experience at BYD, emphasizing the importance of user value, technological innovation, and industry advancement [1] - Prior to joining Zhijie, Zhao worked at BYD for over 15 years, rising through the ranks to become the youngest executive at BYD [2] Group 2 - Zhao's transition to Zhijie is closely related to his experience with the Tengshi brand, which saw significant success with the Tengshi D9 model, achieving over 100,000 cumulative sales in 2025 [3] - Zhijie is set to launch its first MPV model, the Zhijie V9, in 2026, targeting the mid-to-large luxury market, raising questions about its potential to replicate the success of the Tengshi D9 [3] - The Zhijie brand's main sales currently come from the Zhijie R7, which has experienced significant sales fluctuations, indicating a need for a stable product to support growth [3]

（文章来源：证券日报） 证券日报网讯 1月13日，通达动力在互动平台回答投资者提问时表示，比亚迪是公司的重要客户之一， 公司目前为比亚迪提供的为新能源汽车驱动电机铁芯。公司会主动捕捉行业机遇，充分发挥技术与客户 资源优势，实现业务高质量发展。 ...

△图源：智界 智界汽车是奇瑞汽车与华为联合推出的智选车品牌，目前有两款汽车在售，首款MPV车型将在近期上市。1月9日，赵长江已开始转发智界品牌的相关宣 传内容。当时就有消息称，赵长江已被任命为奇瑞集团销售常务副总经理，主抓智界品牌的销售工作。 在加入奇瑞汽车之前，赵长江曾在比亚迪工作近16年，历任区域销售经理、比亚迪销售公司总经理、腾势总经理等。2025年10月24日，赵长江宣布从比亚 迪离职，此后就有消息称其将加入奇瑞汽车，负责智界品牌的相关工作。 奇瑞汽车集团对时代周报记者表示，此次任命是智界汽车的任命，并非奇瑞集团的任命，赵长江将负责智界的品牌建设、市场销售等工作。 腾势的"关键先生" 赵长江称得上是一位年富力强的汽车人。 2009年大学毕业之后，赵长江就加入比亚迪的销售体系，曾负责京津等区域、比亚迪等品牌的销售工作。2017年，他已成为比亚迪最年轻的销售公司总经 理，当时年仅31岁。 传闻最终落定。 1月13日，比亚迪旗下品牌腾势的原总经理赵长江宣布加入智界汽车，担任智界汽车执行董事及执行副总裁。"我将与团队一起全心打造一个真正以用户为 中心的全球化标杆智能品牌，构建贯穿产品、服务与体验的独树一帜的' ...

证券研究报告 | 策略研究 2026 年 1 月 13 日 北向资金四季度回流，增量资金加速净流入 ——金融市场流动性与监管动态周报（0113） 北向资金四季度重回净流入，主要流入有色金属与电子、电力设备等科技方向。 开年第一周融资资金大幅净流入，为市场贡献重要增量资金，A 股继续演绎春 季攻势。往后看，A 股有望延续上行，1 月科技+周期牛的主线不会有变化，风 格选择方面更推荐大盘成长。 定期报告 相关报告 1. 《招商 A 股流动性研究体系与 流动性指数——A 股市流动性研 究之四》，2016 年 8 月 2. 《A 股机构投资者全景图—股 票市场 SCP 范式研究之一》， 2017 年 10 月 3. 《历年 1 月各类资金变化特征 及其影响如何？——金融市场流 动性与监管动态周报（0106）》 | 招商 A 股流动性指数 | | | --- | --- | | 流动性指标 | 数值/金额（亿元） | | 资金供给 | | | 公募基金发行 | 9.61↓ | | ETF 净申购 | 9.73↑ | | 融资净买入 | 857.75↑ | | 资金需求 | | | 限售解禁 | 1624.80↑ | | ...

Core Insights - The Chinese electric vehicle (EV) industry is set to become mainstream by 2025, with retail penetration rates expected to exceed 60% by year-end, marking a significant shift from being an alternative option to a market leader [2][4] - Domestic brands like BYD and Geely are solidifying their positions, while new entrants are facing intense competition and differentiation [2][6] - The focus for 2026 will shift from market share expansion to value redefinition within the industry [3] Market Penetration - In the first eleven months of 2025, the production and sales of new energy vehicles (NEVs) in China saw a year-on-year increase of over 30%, with NEV sales accounting for 47.5% of total vehicle sales [4] - December is projected to see NEV retail sales reach 1.38 million units, with penetration rates likely to surpass 60% for the first time [4] - Domestic brands dominate the market, with a retail penetration rate of 79.6% for NEVs in November, far outpacing mainstream joint venture brands at 6.8% [4] Company Strategies and Challenges - BYD aims to expand its "smart driving equality" initiative, while facing challenges in balancing scale expansion with profit and quality [5] - Geely's strategy is showing results with a 60.5% NEV penetration rate, but it needs to build a "second growth curve" for overseas market presence [5] - Chery leads in overseas markets but must accelerate its domestic NEV transformation and smart technology integration [5] - New forces like Leap Motor are experiencing rapid growth, while Li Auto faces challenges due to product controversies and performance declines [6] Technological Advancements and Globalization - The "universal smart driving" concept is becoming a reality, with BYD's advanced driving assistance systems becoming more affordable [8] - The global expansion of Chinese EVs is evolving from simple product exports to establishing local manufacturing and supply chains in markets like Thailand [9] - The industry is witnessing a shift towards integrating technology and manufacturing, with companies like Chery and Seres successfully navigating the capital markets [10] Industry Restructuring and Future Directions - The industry is transitioning from a financing and expansion model to one focused on technology depth, profitability, and ecological value [10] - State-owned capital is evolving from a supportive role to an active industry integrator, aiming to stabilize the market and promote long-term R&D [11] - The automotive value chain is shifting towards a focus on electronic architecture, software, and services, with tech giants redefining the automotive experience [11] Challenges and Future Outlook - Structural challenges in the supply chain are emerging, with cost pressures affecting relationships with suppliers, particularly smaller firms [12] - Marketing practices that mislead consumers could damage long-term brand trust, highlighting the need for integrity in communications [12] - The industry must build resilient supply chains, drive technological innovation, and transition to localized ecosystems to sustain growth [13][14] - The competition is entering a new phase where success will depend on defining next-generation technology standards and achieving sustainable business models [15]

Core Insights - Zhao Changjiang officially announced his joining of Zhijie Automotive as Executive Director and Executive Vice President, responsible for overall brand marketing [2][7] - His previous experience includes significant roles at BYD, where he led substantial sales growth and brand transformation [3][5][6] Group 1: Zhao Changjiang's Background - Zhao Changjiang began his career at BYD in 2009, quickly rising through the ranks to become the youngest sales head in the company's history by 2017 [3] - He played a crucial role in increasing BYD's market share in the Beijing-Tianjin region to over 35% and achieving a tenfold sales increase [3] - In 2021, he took on the challenge of leading the Tengshi brand, which was struggling with low sales and profitability, and successfully revitalized it with the launch of the Tengshi D9 [4][5] Group 2: Tengshi Brand Performance - Under Zhao's leadership, Tengshi's sales doubled in 2022, nearing 10,000 units, with the D9 model becoming a market phenomenon [5][6] - By 2023, Tengshi's total sales surpassed 120,000 units, with the D9 accounting for 81.75% of those sales [6] Group 3: Zhijie Automotive's Market Position - Zhijie Automotive, a collaboration between Huawei and Chery, is positioned in the high-end MPV market, with the upcoming V9 model expected to compete directly with Tengshi D9 [10][13] - The V9 is designed with advanced technology and spacious luxury features, aiming to redefine the high-end MPV segment [12][15] - Zhijie plans to expand its product lineup and retail presence significantly in 2026, with the V9 being a key product launch [15]