格隆汇12月12日｜比亚迪：国家市场监督管理总局发布《汽车行业价格行为合规指南（征求意见稿）》 公开征求意见。比亚迪将以《指南》为指引，持续优化自身的价格管理和合规体系建设。我们承诺将严 格落实规范价格竞争行为的要求，保障消费者的利益，坚决杜绝任何形式的价格欺诈和不正当竞争行 为。 ...

Core Viewpoint - The National Market Supervision Administration has released a draft guideline for price behavior compliance in the automotive industry, aiming to maintain fair competition, protect consumer rights, and promote sustainable development in the supply chain [1] Group 1: Industry Guidelines - The guideline provides clear instructions on price behavior for automotive manufacturers and sales enterprises, focusing on fair competition and consumer protection [1] - The guideline emphasizes the importance of institutional development within the automotive industry to ensure compliance with pricing regulations [1] Group 2: Company Response - BYD has committed to using the guideline as a framework to enhance its price management and compliance system [1] - The company promises to strictly adhere to the requirements for regulating price competition and to eliminate any forms of price fraud and unfair competition [1]

【#多家车企响应价格行为合规指南#】#比亚迪表态杜绝不正当价格竞争行为##小鹏表态杜绝不正当价 格竞争行为##北汽表态严守公平竞争原则# 12月12日，多家车企发文响应《汽车行业价格行为合规指南 （征求意见稿）》。 比亚迪表态，积极响应《汽车行业价格行为合规指南（征求意见稿）》。国家市场监督管理总局12日发 布《汽车行业价格行为合规指南（征求意见稿）》（以下简称《指南》）公开征求意见。《指南》从汽 车生产企业价格行为、销售企业价格行为、制度建设等方面，为维护汽车行业公平竞争秩序，保障消费 者合法权益，促进产业链供应链健康可持续发展提供了明晰指引。比亚迪表示，承诺将严格落实规范价 格竞争行为的要求，保障消费者的利益，坚决杜绝任何形式的价格欺诈和不正当竞争行为。积极发挥行 业示范引领作用，与全行业同仁携手共进，筑牢行业合规经营秩序，推动构建协作共赢发展生态，助力 汽车产业高质量发展。 小鹏汽车发布关于支持《汽车行业价格行为合规指南》的声明。小鹏汽车表示，全面审视并持续优化自 身的价格管理与合规体系，确保从产品定价到销售服务的每一个环节都更加透明、规范。承诺将严格遵 守明码标价原则，保障消费者的知情权与选择权，坚决 ...

航运界网消息，近日，比亚迪子公司比亚迪储能与船舶储能系统（ESS）市场领导者Corvus Energy AS（简称 "Corvus"）签署谅解备忘录（MoU），双方 将建立战略合作伙伴关系，共同推动面向海事领域的下一代电池解决方案。 根据协议内容，比亚迪与Corvus Energy将共同协调全球市场布局，加速船用储能系统的规模化应用，支持航运业向更清洁、可持续的运营模式转型。， 整合比亚迪储能在磷酸铁锂（LFP）电池领域的规模优势与技术领导力，以及Corvus Energy在船舶储能系统应用方面的卓越专业能力。 谅解备忘录签署仪式（左：比亚迪储能销售总监王宏博先生；右：Corvus Energy欧洲、中东、非洲及亚洲区区域总监Ole Jacob Irgens先生） 比亚迪储能与 Corvus 将携手加速产品开发、拓展全球市场覆盖，并为全球航运业提供创新、安全和高效的储能解决方案。 Corvus Energy欧洲、中东、非洲及亚洲地区负责人Ole Jacob Irgens表示："这份谅解备忘录标志着我们在巩固高品质船用电池系统市场领先地位的目标上 迈出了关键一步。凭借Corvus对航运业的深刻理解与丰富的船用电 ...

Core Viewpoint - The article highlights BYD's commitment to comply with the newly proposed guidelines on pricing behavior in the automotive industry, emphasizing the importance of fair competition and consumer protection [1] Group 1: Regulatory Compliance - The National Market Supervision Administration has released a draft guideline titled "Automotive Industry Pricing Behavior Compliance Guidelines" for public consultation [1] - BYD has stated that it will use these guidelines to enhance its pricing management and compliance system [1] Group 2: Commitment to Fair Competition - The company has pledged to strictly adhere to the requirements for regulating pricing competition [1] - BYD aims to eliminate any form of price fraud and unfair competition practices [1]

Core Viewpoint - BYD commits to optimizing its price management and compliance system in accordance with the "Guidelines for Price Behavior Compliance in the Automotive Industry (Draft for Comments)" [1] Group 1: Company Actions - BYD promises to strictly implement the requirements for regulating price competition behavior to protect consumer interests [1] - The company aims to eliminate any form of price fraud and unfair competition [1] Group 2: Industry Impact - BYD seeks to play a leading role in the industry by collaborating with peers to establish a robust compliance operating order [1] - The initiative is intended to promote a cooperative and win-win development ecosystem, contributing to the high-quality development of the automotive industry [1]

Core Insights - The article highlights the strong sales performance of BYD Dolphin, which recently achieved a milestone of 1 million units sold, making it the fastest A0-class sedan to reach this figure in the market [1][18] - The competitive landscape in the electric vehicle sector has intensified, with numerous new models being launched, yet BYD Dolphin maintains a steady sales trajectory [1][22] Customer Footfall - The dealership experiences a favorable customer footfall due to its strategic location near large residential areas and public transport, with peak customer visits occurring on weekends [6][22] - The dealership can accommodate 20 to 40 customer groups on busy days, indicating a healthy interest in the brand [6][22] Online Consultation - The dealership operates with a balanced approach between online and offline customer engagement, with online inquiries matching in-store visits [8][24] - Many online customers are referrals from existing BYD owners, reflecting positive word-of-mouth and brand reputation [8][24] Popular Models - The BYD Dolphin, along with models like Sea Lion 06 and Sea Leopard 06, are among the best sellers, with the Sea Lion 06 EV being particularly favored by family users for its spaciousness and practicality [9][24] - The Dolphin's recent sales achievement has enhanced its market recognition and customer referrals [9][24] Order and Delivery Status - The dealership reports monthly sales of over 100 units, with no significant order backlogs or delivery delays, thanks to BYD's robust production and supply chain [11][26] - The customer base for the Dolphin includes various demographics, such as elderly users, families purchasing for children, and those transitioning from traditional vehicles to electric models [11][26] Competitive Landscape - The A0-class market is described as highly competitive, with numerous new entrants, yet the Dolphin retains a significant advantage due to its established reputation and advanced features [15][30] - The Dolphin is recognized as the first A0-class model built on the e-platform 3.0, featuring comprehensive driver assistance technology, which appeals to consumers [15][30] Industry Evolution - The success of the BYD Dolphin is seen as a reflection of the evolution of the A0-class electric vehicle market in China, transitioning from basic models to more sophisticated offerings [17][33] - The Dolphin has set new standards for space, technology, and safety in the A0-class segment, contributing to the overall growth and quality enhancement of the electric vehicle market [17][34]

Core Viewpoint - Shenzhen Shangshui Intelligent Co., Ltd. is pursuing an IPO on the ChiNext board, backed by BYD, which plays a crucial role in its equity structure and business operations [2][6] Group 1: IPO Details - Shangshui Intelligent's IPO application was accepted on June 19, 2025, and is scheduled for review on December 16, 2025, with a fundraising target of approximately 587 million yuan [2] - The funds raised will be primarily used for the construction of a manufacturing base for high-precision intelligent equipment, a research and development center, and to supplement working capital [2] Group 2: Business Overview - Founded in 2012, Shangshui Intelligent specializes in micro-nano powder processing, precision measurement, mixing and dispersion, and functional film preparation, with applications in the new energy battery sector [3] - The company has established partnerships with major players in the new energy battery industry, including BYD, Yiwei Lithium Energy, and CATL, as well as international manufacturers like Samsung SDI and LGES [3] Group 3: Financial Performance - Shangshui Intelligent's revenue has shown significant growth over the past three years, with annual revenue of 397 million yuan, 601 million yuan, 637 million yuan, and 398 million yuan reported [3] - However, net profit has started to decline, with figures of 97.72 million yuan, 234 million yuan, 153 million yuan, and 93.71 million yuan for the same periods, indicating a 34.90% decrease in 2024 compared to 2023 [4][5] Group 4: Dependency on BYD - The company has a significant reliance on BYD, with sales to BYD accounting for 65.78% of its revenue in 2024 [6] - A strategic cooperation agreement was signed in November 2025, ensuring that BYD will prioritize purchasing from Shangshui Intelligent for specific equipment [6] Group 5: Cash Flow and Inventory Concerns - Shangshui Intelligent has reported negative net cash flow from operating activities in 2023 and 2024, despite positive net profits, indicating potential liquidity issues [5] - The company has a growing inventory balance, which poses risks related to capital efficiency and financial health [7] Group 6: Margin Pressures - The gross margin for Shangshui Intelligent has fluctuated, with rates of 48.10%, 57.08%, 48.72%, and 53.65% reported during the review period, indicating potential pressures from cost control demands from clients [8] - The company anticipates that increased competition and cost pressures could further impact its gross margins in the future [8]

Core Insights - BYD announced a new OTA upgrade for the Sea Lion 06, enhancing the SOC strategy for DM-i models to improve EV mode range, while EV models focus on strengthening charging-related features [1] Group 1: Upgrade Highlights - The pure electric range of the Sea Lion 06 DM-i model has seen a significant increase, with the 121 Navigation version rising from 121 km to 132 km, and the 170 Navigation Pro and Plus versions increasing from 170 km to 190 km [3] - The 170 Navigation Pro and Plus versions, with the new long-range feature, can further extend the EV mode CLTC range to 205 km [3] - The EV version has introduced a map charging route feature to address the charging needs of pure electric vehicle users [3] Group 2: Smart Interaction and Practical Features - The upgrade includes the addition of the NetEase Cloud Music application, supporting full-scene smart voice control for song playback [3] - The upgrade enhances the Honor Car Link feature, compatible with Honor Magic series devices, allowing for navigation and application transfer [3] - New functionalities include support for switching parking direction in certain horizontal line parking scenarios, and HUD account memory features for the DM-i 170 Navigation Plus and EV 605 Navigation Plus models [3] Group 3: Additional Function Optimizations - The upgrade encompasses seven functional optimizations, including integration of intelligent voice for vehicle broadcast sounds, adjustments to system UI display and prompts, and improvements in voice prompt logic during driving assistance [3]

Core Viewpoint - The article highlights significant market movements following the Federal Reserve's interest rate cut, with a focus on the performance of various sectors, particularly technology and e-commerce, indicating a shift in investor sentiment towards growth and defensive assets [4][10][17]. Market Performance - The three major U.S. stock indices closed higher, with the Dow Jones up 1.05%, S&P 500 up 0.67%, and Nasdaq up 0.33% [8]. - Notable gainers included Nike (+3.91%), Caterpillar (+3.56%), and Johnson & Johnson (+3.32%), leading the Dow components [9][10]. Federal Reserve Actions - The Federal Reserve cut interest rates by 25 basis points, bringing the target range to 3.50%–3.75%, marking the third cut of the year [17]. - Fed Chair Jerome Powell indicated that the economic outlook remains stable, with moderate expansion and a cooling labor market, while inflation remains above the 2% target [19]. Technology Sector - The Philadelphia Semiconductor Index rose 1.29%, reaching a historical high, driven by strong performances from companies like Micron Technology (+4.47%) and Qualcomm (+3.53%) [22][25]. - The rise in semiconductor stocks reflects growing investor confidence in the technology sector amid broader market gains [23]. E-commerce Trends - Morgan Stanley forecasts that by 2030, smart agent shopping could account for 10%–20% of the e-commerce market, representing a potential $190 billion to $385 billion in U.S. e-commerce spending [27][28]. - Approximately 23% of Americans have used AI for shopping in the past month, indicating significant adoption potential for AI-driven shopping experiences [28].