埃安UT super的市场关注度始于价格。据披露，该车租电模式购车价4.99万元起、电池月租399元，搭配500公里续航、华为云车机等配置，在订单转化阶 段，存在实车配置、服务条款与宣传材料不符等情况，用户质疑集中爆发，直接引发车主"退订潮"。 孙婉秋 摄 天窗"消失"、宣传不符？ 《国际金融报》记者总结发现，退订核心争议点在于天窗"消失"，硬件配置"货不对板"。 "国民小车"刚上市就遭遇"退订潮"。 近日，由广汽集团、宁德时代、京东联合推出的"国民小车"埃安UT super，因"天窗消失""里程限制"等问题引发消费者投诉，三方于近日召开用户面对面"恳 谈会"作出回应，同时抛出补救措施。 有消费者发文表示，下单时京东App宣传图及客服明确显示车辆配备天窗，但实车无天窗且不可选配。值得注意的是，争议爆发后京东紧急下架了带天窗的 宣传图，而广汽埃安App仍保留原图，客服回应称"已联系广汽埃安修改"。 关于用户关心的"是否有天窗"的疑问，广汽集团埃安BU副总裁、埃安品牌首席用户官杨龙表示，这是埃安社区上介绍三方合作生态内容出现的一张"天窗图 片"，是内容审核的失误，在上市发布三天后已发现并立刻修正，并对所有官方内容 ...

12月8日，来自温州泰顺的纳百川将开启ipo发行，有望在年内成为当地第一家A股上市公司。 1989年1月至1992年8月，任瑞安市奔求鞋厂厂长； 1992年9月任瑞安市莘塍君得发服装厂销售经理； 1996年9月任瑞安市奥特西汽配有限公司总经理； 2004年4月，成立瑞安市纳百川汽车零部件有限公司。 2011年，纳百川启动动力电池热管理系统立项，次年 与宁德时代开启合作，联合研发产品，2016年成功进 入上汽大众供应链，为其首款新能源车配套热管理系 统，同年成为国内多家主机厂国内首款新能源汽车的 动力电池热管理系统的主要供应商。 · 浙股 泰顺是温州、也是整个浙江最偏远的县之一，与福建相邻，是浙江早年8个贫困县之一，能实现IP0清零实属不易。公司创始人，是来自瑞安的陈荣贤。 陈荣贤，1969年9月出生， 2023年9月，公司IPO获深交所受理，2025年8月28 日创业板上会审核通过。 | 项目名称 | 投资总额 | 拟投入募集 资金金额 | 实施主体 | | --- | --- | --- | --- | | 纳百川（滁州）新能源科技有限公司年 | 57,940.04 | 57,900.00 | 纳百川(滁州 ...

Core Viewpoint - FTSE Russell announced changes to several indices, including the FTSE China 50 Index, FTSE China A50 Index, FTSE China A150 Index, FTSE China A200 Index, and FTSE China A400 Index, effective after the market close on December 19, 2025 [1]. Group 1: Index Adjustments - The FTSE China A50 Index will include Luoyang Molybdenum (603993) and Sungrow Power Supply (300274), while removing Jiangsu Bank (600919) and SF Holding (002352) [4][6]. - The FTSE China 50 Index will add China Hongqiao, CATL (300750), and Hengrui Medicine (600276), while excluding CITIC Securities (601066), Great Wall Motors (601633), and Li Auto [6][8]. - The FTSE China A150 Index will incorporate Ying Shi Innovation, Jiangsu Bank, Huadian New Energy, SF Holding, Jiangbolong, and Huayou Cobalt (603799), while removing Luoyang Molybdenum, Desay SV (002920), Changdian Technology (600584), Baoxin Software (600845), Shanghai Pharmaceuticals (601607), and Sungrow Power Supply [10][12]. - The FTSE China A200 Index will add Ying Shi Innovation, Huadian New Energy, Jiangbolong, and Huayou Cobalt, while excluding Desay SV, Changdian Technology, Baoxin Software, and Shanghai Pharmaceuticals [12]. - The FTSE China A400 Index will see a broader adjustment, adding Anji Technology (688019), Baiyin Nonferrous (601212), Yitang Co., and Bluefocus Communication Group (300058), while removing Chipbond Technology, Yipin Hong (300723), Guanghui Network (300383), and Huaxi Biological [13][14]. Group 2: Market Impact - The adjustments by FTSE Russell are expected to attract passive fund allocations to the newly included stocks and increase overseas interest in Chinese assets [17]. - In the first ten months of 2025, foreign capital inflow into the Chinese stock market reached $50.6 billion, significantly surpassing the total of $11.4 billion for the entire year of 2024, marking an increase of over three times [17]. - UBS forecasts that A-share market earnings growth will rise from 6% this year to 8% next year, driven by improved nominal GDP growth and a narrowing of PPI declines [17]. - JPMorgan upgraded its rating on Chinese stocks to "overweight," citing a higher likelihood of significant gains next year compared to potential downside risks [18]. - Morgan Stanley set a target for the CSI 300 Index at 4840 points by December 2026, indicating a stable outlook for Chinese stocks amid moderate earnings growth and higher valuation levels [18].

当发电的速度超过了电网消纳的速度，当投资的回报被政策与市场双重挤压，我们靠什么继续前行？ 《中国能源报》记者近日在山东 省规模最大的工商业储能项目——华勤绿能3 0MW/ 6 0MWh储能项目找到了解决答案。 ▲ 山东济宁华勤工业园 国家能源局最新统计数据显示，前三季度新增可再生能源3 . 1 0亿千瓦，太阳能独占2 . 4 0亿千瓦。但是，掌声未落，警报已响。随着《关 于进一步深化电力体制改革加快构建新型电力系统的指导意见》（以下简称" 1 3 6号文"）政策的落地，"消纳难"与"收益低"两大难题摆 在了光伏人面前。当发电的速度超过了电网消纳的速度，当投资的回报被政策与市场双重挤压，我们靠什么继续前行？《中国能源报》 记者近日在山东省规模最大的工商业储能项目——华勤绿能3 0MW/ 6 0MWh储能项目找到了解决答案。 光伏面临消纳难与收益低难题 我国可再生能源的扩张势头正以前所未有的速度刷新纪录。国家能源局最新数据显示，我国可再生能源装机总量已逼近2 2亿千瓦大关， 其中风电与太阳能发电合计装机更是突破1 7亿千瓦。仅今年前三季度，全国新增可再生能源装机就高达3 . 1 0亿千瓦，同比激增47 . 7%， ...

Core Viewpoint - FTSE Russell announced the quarterly review results for the FTSE China Index Series, effective from December 22, 2025, with changes in constituent stocks for various indices [1] Group 1: FTSE China A50 Index Changes - Two new constituents added: Luoyang Molybdenum (603993) and Sunshine Energy [1] - Two constituents removed: SF Express (002352) and Jiangsu Bank (600919) [1] Group 2: FTSE China 50 Index Changes - Three new constituents added: China Hongqiao, CATL (300750), and Hengrui Medicine (600276) [1] - Three constituents removed: CITIC Securities (601066), Great Wall Motors (601633), and Li Auto [1] Group 3: Future Review Schedule - The next quarterly review for the FTSE China Index will be announced in March [1]

埃安UT super 500公里续航、配备了华为云车机、倒车哨兵等，提供了有力的性价比。租电模式购车价 4.99万元、电池月租399元。对于租电版本，有的用户担心"399元家庭包设置3000公里基础里程有时可 能不够用"。对此，时代电服副总裁邓旭表示：3000公里的基础里程是基于大量实际用车数据制定的， 出发点就是想让大多数家庭用户"为真正用得上的里程付费"，把用车成本实实在在降下来，不用为个性 化或者偶发的需求多掏钱，让租比买更划算。关于更多的需求，除了未用完里程可次月结转的政策外， 三方也即将推出"50元享1000公里"的里程增量包服务，进一步丰富用户出行场景的覆盖范围。 同时，为了让用户在选车、购车、用车全流程都能获得更好的服务体验，广汽、宁德时代、京东三方正 在针对各类问题进行培训，提升客服体验，力求把用户感受做到更好。经过三方代表的真诚沟通，切实 解答了用户心中的疑虑，也让大家对三方联合推出的产品更有信心。有的车主在现场表示"选择埃安UT super就是看中其同级领先的产品功能配置，而且一台车有三个大品牌来做服务，能获得三倍保障。"有 车主现场表示愿意成为"产品体验官"，想要亲自到工厂验证埃安UT ...

Group 1 - FTSE Russell announced the quarterly review results for the FTSE China Index Series, effective from December 22, 2025 [1] - The FTSE China A50 Index added two constituents: Luoyang Molybdenum and Sunshine Energy, while removing SF Express and Jiangsu Bank [1] - The FTSE China 50 Index added three constituents: China Hongqiao, CATL, and Heng Rui Medicine, while removing CITIC Securities, Great Wall Motors, and Li Auto [1] - The next quarterly review for the FTSE China Index will be announced in March [1]

Summary of Key Points from the Conference Call Industry Overview - The focus is on the materials sector, specifically aluminum, copper, and the battery chain, with a cautious stance on anti-involution sectors [1][2][3]. Core Insights Aluminum - Aluminum is preferred over copper due to underappreciated supply risks, particularly concerning smelting capacity in Indonesia and potential over-optimism regarding Middle Eastern expansion plans [2]. - Chinese smelter utilization is reported at over 98%, with China being a net importer of aluminum, primarily from Russia [2]. - Apparent consumption and inventory levels for aluminum in China are healthier compared to copper [2]. - Top picks in aluminum include Hongqiao and Chalco H/A [2]. Copper - Demand for copper is weakening as of Q4 2025, with inventory stockpiling observed in both the US and China [3]. - Price expectations for copper may be influenced by anticipated rate cuts into 2026, with long-term bullish sentiment due to potential supply deficits in the next 3-5 years [3]. - Tight global power supply is contributing to positive sentiment around copper [3]. - Zijin Mining's copper and lithium assets are considered undervalued, with a recommendation to maintain a Buy rating [3]. - Among pure copper plays, MMG is favored over CMOC for better valuation [3]. Battery Chain - The battery chain is viewed as more defensive, with a rally driven by strong expectations for energy storage systems (ESS) [4]. - Caution is advised before the Chinese New Year, as uncertainties in production pipelines are anticipated due to seasonality and weak EV demand [4]. - Key catalysts to watch include the production pipeline in March 2026, which could shift market sentiment towards companies with higher elasticity in the battery supply chain [4]. - Preferred companies in the battery sector include CATL [4]. Cement and Steel - Cement and steel sectors are the least preferred, with steel demand supported by exports but facing weaker anti-involution enforcement [5]. - Production cuts in these sectors are not expected to be stringent, leading to low cement prices and profits into the first half of 2026, with a potential recovery in the second half [5][6]. Additional Insights - The overall sector ranking is: Aluminum > Copper > Battery > Gold > Battery Materials > Coal > Cement > Steel [1]. - Cross-sector top picks include Hongqiao, Chalco H/A, Zijin Mining H/A, and CATL-A [1]. This summary encapsulates the key points discussed in the conference call, highlighting the investment outlook for various materials and sectors.

大摩闭门会：新能源、锂电、交运行业更新 20251203 摘要 火电核准项目将在今年到"十五五"前期陆续投产，2021 年起每年有 10-12 台核电机组核准和开工，预计 2027-2028 年迎来核电投产高峰 期，关注相关产业链投资机会。 光伏方面，虽然"十四五"期间增长迅猛，但受政策和推进速度影响， 预计 2026 年光伏装机容量将下降，2027 年开始可能恢复性增长，需 关注政策变化对市场的影响。 风电整体需求强劲，"十五五"期间年装机容量预计 100-120 吉瓦，海 上风电受益于深远海发展规划，长期发展潜力巨大，关注技术进步和成 本下降带来的投资机会。 储能行业快速发展，独立储能投资积极性高，受益于新能源占比提升、 政策支持以及稳定的收入来源，关注储能技术创新和商业模式变革。 电网投资将持续增加，"十五五"期间特高压投资规模巨大，智能微网 发展潜力可期，关注电网设备升级和智能化改造带来的投资机会。 2025 年电池装机量预计达 150GWh，2026 年行业预期增速 50%- 100%，储能市场经济性显现，预计 2026 年政策调整后储能系统将更 广泛应用，关注电池技术和储能系统集成商。 上海机场和 ...

国家能源局最新统计数据显示，前三季度新增可再生能源3.10亿千瓦，太阳能独占2.40亿千瓦。但是，掌声未 落，警报已响。随着《关于进一步深化电力体制改革加快构建新型电力系统的指导意见》（以下简称"136号 文"）政策的落地，"消纳难"与"收益低"两大难题摆在了光伏人面前。当发电的速度超过了电网消纳的速度， 当投资的回报被政策与市场双重挤压，我们靠什么继续前行？《中国能源报》记者近日在山东省规模最大的 工商业储能项目——华勤绿能30MW/60MWh储能项目找到了解决答案。 光伏面临消纳难与收益低难题 我国可再生能源的扩张势头正以前所未有的速度刷新纪录。国家能源局最新数据显示，我国可再生能源装机 总量已逼近22亿千瓦大关，其中风电与太阳能发电合计装机更是突破17亿千瓦。仅今年前三季度，全国新增 可再生能源装机就高达3.10亿千瓦，同比激增47.7%，占全部新增装机的84.4%，而太阳能发电以2.40亿千瓦的 新增量成为绝对主力。 然而，在这片繁荣景象之下，行业正面临严峻的现实考验。一方面，装机规模的快速发展给电网的消纳能力 带来巨大压力；另一方面，政策调整与市场变化正不断压缩项目的盈利空间。如何破解"增量"与"增 ...