1月26日消息，据蔚来官微，当地时间1月22日，蔚来在匈牙利迎来重要里程碑——位于布达佩斯的NIO AutoWallis Showroom正式开业。这是蔚来在匈牙利落地的首家国家总代理门店，标志蔚来在匈牙利市 场迈出重要一步。 蔚来表示，随着新展厅的落成，AutoWallis将在匈牙利正式开展蔚来和firefly萤火虫品牌车型的销售与 服务业务，进一步夯实蔚来在中欧市场的布局，把高端智能电动出行带给更多匈牙利用户。 1月26日消息，据蔚来官微，当地时间1月22日，蔚来在匈牙利迎来重要里程碑——位于布达佩斯的NIO AutoWallis Showroom正式开业。这是蔚来在匈牙利落地的首家国家总代理门店，标志蔚来在匈牙利市 场迈出重要一步。 责任编辑：李思阳 蔚来表示，随着新展厅的落成，AutoWallis将在匈牙利正式开展蔚来和firefly萤火虫品牌车型的销售与 服务业务，进一步夯实蔚来在中欧市场的布局，把高端智能电动出行带给更多匈牙利用户。 责任编辑：李思阳 ...

Summary of Key Points from the 2026 Greater China Conference on the Auto Sector Industry Overview - The auto sector is experiencing a cooling in domestic demand while companies are setting ambitious growth targets, leading to a cautious outlook for the near term [1][2] - Key growth drivers identified include overseas expansion and intelligence transformation [1][3] Core Insights and Arguments Growth Projections - A bottom-up analysis indicates a projected 19% growth for the auto sector in 2026, contrasting with nearly zero growth in the market based on top-down forecasts [2] - Companies like LeapMotor are targeting significant growth, aiming to increase sales from 600,000 to 1 million units, primarily through new model launches [2] Overseas Expansion - Recent developments, such as tariff agreements between China and the EU, are expected to facilitate overseas growth for Chinese automakers [3] - Companies like Sinotruk and CFMoto are focusing on expanding their export markets, particularly in Europe and North America [3][36][65] Intelligence Transformation - Companies like Pony AI and WeRide are expanding their robotaxi fleets, with Pony targeting 3,000 units by 2026 [22][26] - The adoption of advanced technologies, such as LiDAR and AI, is expected to drive growth in the intelligence segment of the auto industry [3] Company-Specific Highlights Guangzhou Automobile (GAC) - GAC aims for robust volume growth through new model launches and exports, targeting 200,000-300,000 units overseas in 2026 [7][8] - The company plans to reduce costs by an additional 15% in 2026, building on a 10% reduction achieved in 2025 [9] Great Wall Motor - Management has set a sales target of approximately 1.8 million units for 2026, with a focus on new models and exports [10] - The company anticipates a challenging market environment, with a 10% month-over-month decline in orders noted early in 2026 [11] Nio - Nio expects to achieve non-GAAP breakeven in FY26, supported by a strong cash position of RMB 37 billion [13] - The company plans to launch three new models in 2026 to drive growth [14] Xpeng - Xpeng is focusing on cost optimization and technology leadership, with plans to launch new models in 2026 [16][17] - The company expects international sales to grow significantly, targeting over 20% of total revenue from overseas markets [18] Leapmotor - Leapmotor anticipates weak demand in the mass market but plans to launch new models to enhance competitiveness [19][20] - The company aims for overseas sales of 100,000-150,000 units in 2026, with a significant contribution expected from Europe [21] Pony AI - Pony AI is expanding its robotaxi fleet and expects to achieve breakeven in unit economics in Guangzhou [22][24] WeRide - WeRide plans to expand its robotaxi fleet to 2,000-3,000 units, with a focus on markets in the Middle East and Europe [26][27] Sinotruk - Sinotruk forecasts over 10% volume growth in 2026, primarily driven by truck exports [36] - The company is exploring new export markets, including Brazil and Europe, with plans for an assembly plant in Brazil [37] Loncin Motor - Loncin aims to increase its market share in Europe and is targeting growth in motorcycle exports [39][40] Yadea Group - Yadea expects a decline in the electric two-wheeler market but maintains a growth target of 10% for its sales volume in 2026 [43] Other Important Insights - The overall sentiment in the auto sector is cautious due to rising commodity prices, purchase taxes, and a retreating stimulus environment [4] - Companies focusing on intelligence and export themes are preferred for investment, including BYD, GWM, and Hesai [4] This summary encapsulates the key points discussed during the conference, highlighting the challenges and opportunities within the auto sector as companies navigate a changing market landscape.

Group 1 - The Hang Seng Index opened up by 0.35% and the Hang Seng Tech Index increased by 0.05% [1] - Pop Mart surged over 4%, while Zijin Mining rose nearly 3% [1] - Tencent Music and JD Health also showed significant gains [1] Group 2 - Baidu Group, Xpeng Motors, and NIO experienced notable declines [1]

Group 1 - Tencent and Baidu are distributing significant cash rewards during the Spring Festival, with Tencent offering 1 billion yuan in cash red envelopes and Baidu providing 500 million yuan in cash rewards through its app [2] - Apple has initiated a major discount on the iPhone Air 256GB model, reducing the price from 7999 yuan to 5499 yuan, marking the largest price drop for this model in history [2] - Nvidia's CEO Jensen Huang is visiting China to deepen cooperation in AI technology, while the company faces production halts for certain components [3] Group 2 - Xiaomi's CEO Lei Jun announced that the new generation of Xiaomi SU7 is expected to have sample cars available before the Spring Festival [5] - NIO's subsidiary has achieved 91.36% progress in its battery doubling plan, with over 7309 new batteries invested as of January 24 [5] - Hunan Gold plans to acquire 100% equity of two companies to enhance its competitiveness in the precious metals refining and processing sector [5] Group 3 - Microsoft is addressing issues with Windows 11 that have affected basic applications, while also expanding its gaming strategy to include Xbox games on PS5 and Switch [8] - Amazon's low Earth orbit satellites are facing criticism for their brightness affecting astronomical observations, and the company is experiencing a decline in order volume [8] - The U.S. government plans to invest 1.6 billion USD in a rare earth company to secure critical mineral supplies, acquiring a 10% stake [8] Group 4 - Samsung Electronics plans to increase NAND flash supply prices by 100% in Q1 2026, reflecting ongoing tensions in the semiconductor market [10] - Toyota maintains its leading position in the Thai automotive market while facing challenges in electric vehicle transitions in China [10] - SK Hynix aims to launch high bandwidth memory samples by 2026 to meet the demands of AI and data center high-performance computing [10] Group 5 - Volkswagen's CEO stated that plans to build an Audi factory in the U.S. are contingent on tariff reductions, while its joint venture plans to launch 13 new models by 2026 [12] - BMW is implementing a second official price adjustment in 2026, with some models seeing price reductions exceeding 60,000 yuan [12] - LVMH is increasing investments in the beauty sector to strengthen its position in the high-end beauty market [12]

• 本周市场 聚焦 美联储1月利率决议， "超级财报周"重磅来袭，苹果、微软等科技巨头将发布财报 • 美联储继任主席最热门人选出炉 • 权益基金新发显著回暖， 年内新成立基金募资超700亿元 • 北交所打新资金首破万亿， 中签门槛显著抬升 • 苹果降价促销， 部分产品已缺货 • 全球存储器涨价潮加剧， 三星NAND闪存价格上调超100% 1. 本周全球市场大事不断！美联储将于北京时间1月30日凌晨3:00公布1月利率决议；美股"七巨头"财报密集发布；中国1月PMI数据将揭示经济开局态 势。 与此同时，多个产业大会备受关注，包括中国信通院太空算力研讨会、欧盟-印度峰会、OPEC+月度会议、亚洲金融论坛等。 2. 美联储继任主席人选牵动市场神经，美国总统特朗普可能最早于本周宣布新任美联储主席人选。 特朗普对全球资产管理巨头贝莱德公司高管里克·里德 尔的公开称赞，则让这位华尔街资深人士迅速跃升为美联储继任主席热门人选，目前在预测平台上，里德尔获提名的概率从4%升至50%左右。 1. 北京市2026年经济社会发展主要预期目标明确，包括：地区生产总值增长5%左右，一般公共预算收入增长4%左右，城镇调查失业率控制在5%以 ...

Group 1: US-China Relations - US President Trump is expected to visit China in April, with Chinese leaders planning to visit the US by the end of the year, highlighting the importance of high-level diplomacy in stabilizing US-China relations [2][3] Group 2: Commercial Space Industry - SpaceX aims to achieve fully reusable rocket technology with its Starship, potentially reducing space access costs by 99% to below $100 per pound [2] - Beijing's measures to promote the development and utilization of commercial satellite remote sensing data from 2026 to 2030 include optimizing financial support and encouraging investment in quality projects [3] - The commercial space economy is projected to reach $1.8 trillion by 2035, driven by new infrastructure and applications in the space sector [4] Group 3: Stock Market and IPOs - Recent rumors about tightening regulations for companies seeking to list in Hong Kong have been denied, confirming that current overseas listing policies remain unchanged [3] - The China Securities Regulatory Commission (CSRC) has approved IPO registrations for three companies, indicating ongoing market activity [11] - A total of 28 companies are set to unlock 796 million shares this week, with a total market value of approximately 40.97 billion yuan [12][13]

国家知识产权局信息显示，蔚来移动科技有限公司、蔚锐科技（深圳）有限公司取得一项名为"多路充 电电路及电子设备"的专利，授权公告号CN223829056U，申请日期为2024年12月。 专利摘要显示，一种多路充电电路及电子设备，多路充电电路包括第一接口和第二接口、多个开关模块 和选通控制器，第一接口和第二接口均用于与外接设备连接，第一接口包括电源管脚和检测管脚，第二 接口包括电源管脚；开关模块与接口一一对应，开关模块的第一端与对应的接口的电源管脚连接；选通 控制器分别与各个开关模块的控制端以及第一接口和第二接口连接，选通控制器用于根据检测管脚的电 平以及各个电源管脚的电平控制其中至多一个开关模块导通，检测管脚的电平用于反映第一接口是否连 接外接设备。通过选通控制器检测各个接口与外接设备的连接情况之后，可以根据连接情况控制其中至 多一个开关模块导通，以避免接口之间短路的情况。 天眼查资料显示，蔚来移动科技有限公司，成立于2022年，位于上海市，是一家以从事软件和信息技术 服务业为主的企业。企业注册资本10000万美元。通过天眼查大数据分析，蔚来移动科技有限公司参与 招投标项目1次，专利信息266条，此外企业还拥有 ...

Group 1 - NIO Inc. is committed to expanding its business operations in Europe, influenced by the European Commission's announcement regarding tariff replacements for Chinese-made EV producers [2] - The company is engaged in discussions aimed at reaching a mutually respectful solution with the EU, highlighting positive advancements in relations between China and the EU [2] - Macquarie has maintained an Outperform rating on NIO, raising its price target from $5.30 to $6.10, and increasing its FY26 volume projection by 7% due to rising demand for specific models [3] Group 2 - Despite expectations of a larger net loss and margin compression in FY26, Macquarie believes NIO could achieve volume growth of approximately 40%, allowing for increased market share [3] - NIO is recognized as a premium electric car manufacturer, although some analysts suggest that certain AI stocks may offer greater upside potential with less downside risk [4]

Core Insights - New chip design company Xinxin Hangtu has completed a new round of financing, increasing its registered capital to 18.7169 million yuan, with investors including major automotive companies and investment firms [2] - Xinxin Hangtu is closely related to Momenta, as it was independently financed from the Momenta chip project, with key personnel from Momenta involved in its operations [3] - The investment from multiple automotive companies reflects a strategy to secure long-term partnerships and competitive advantages in the chip and smart driving sectors [4] Company Overview - Xinxin Hangtu focuses on integrated circuit chip design and services, particularly in the development of autonomous driving chips [2] - The company has launched a high-performance single-core chip, BMCX7, designed for urban NOA applications, featuring a computing power of 272 TOPS [3] Industry Trends - Automotive companies are diversifying their investments in technology firms to establish stable partnerships and enhance competitiveness, as seen with the investments in Xinxin Hangtu [4] - The trend of self-research in chip development is growing, with companies like NIO and XPeng developing their own chips to gain core technology and competitive advantages [6] - The domestic chip industry is experiencing rapid growth, with a projected increase in the localization rate of smart cockpit SOCs to over 10% in 2024, up from less than 3% previously [6] Challenges - The high-end automotive chip market is still dominated by imported chips, indicating significant room for growth for domestic chips [7] - Domestic chip manufacturers face challenges in achieving self-sufficiency in supply chains and must focus on developing high-cost performance products amid rapid technological changes [7]

Market Performance - On January 23, US stock indices showed mixed results with the Dow Jones down 0.58%, the Nasdaq up 0.28%, and the S&P 500 up 0.03% [1] - The precious metals sector led gains, with Pan American Silver rising over 4% [1] - Technology stocks had varied performances, with Microsoft and Netflix up over 3%, while Intel fell 17%, marking its largest single-day drop since August 2024 [1] Chinese Stocks - The Nasdaq Golden Dragon China Index decreased by 0.26%, with notable declines in stocks such as Xpeng down over 3% and NIO and Alibaba down over 2% [1] - Conversely, Youdao rose over 4%, New Oriental increased over 2%, and Trip.com was up over 1% [1] Precious Metals - International precious metal prices reached new highs, with gold briefly surpassing $4,990 and silver crossing the $100 mark [1]