1. 2月6日(周五)美股盘前，美股三大股指期货均转涨。截至发稿，纳指期货现涨0.51%，标普500指数期货涨0.52%，道指期货涨0.60%，此 前纳指期货一度跌超1.6%。 3. 截至发稿，WTI原油涨1.39%，报71.99美元/桶。布伦特原油涨1.34%，报75.66美元/桶。 | ■ WTI原油 | 2026年3月 | 63.02 | 64.58 | 62.32 | -0.27 | -0.43% | | --- | --- | --- | --- | --- | --- | --- | | 謡 伦敦布伦特原油 | 2026年4月 | 67.37 | 68.82 | 66.87 | -0.18 | -0.27% | 市场消息 今夜无非农，下周"双炸弹"。受此前美国政府停摆影响，美国1月非农报告推迟至2月11日(下周三)21:30公布，1月CPI报告推迟至2月13日 (下周五)21:30公布。双重重磅数据或将引发新一轮市场动荡。 美股常胜策略突然失效!动量交易遭遇历史性回撤：资金从科技撤离，价值股成新宠。多年来，在股市中追涨动量一直是常胜策略，然而 这一策略在过去一周却突然失效。此次动量策略的崩塌，是美 ...

Stellantis Overview - Stellantis (STLA) will incur charges of approximately €22.2 billion ($26.18 billion) for the second half of 2025 due to a reset in its business strategy amid weak demand for electric vehicles [3] - The company's shares fell about 14% in early trading following the announcement of these charges [3] - CEO Antonio Filosa stated that the charges reflect an overestimation of the energy transition pace and previous operational execution issues [3] Financial Implications - The charges will include cash payments of around €6.5 billion ($7.66 billion) to be paid over the next four years, related to cancelled products and adjustments in battery manufacturing capacity [3] - Stellantis announced it will not pay an annual dividend in 2026 as part of its financial restructuring [4]

Core Viewpoint - Stellantis shares are experiencing significant declines following the announcement of a €22 billion ($25 million) charge due to overestimating the speed of consumer transition to electric vehicles [1] Group 1: Financial Impact - Shares of Stellantis fell approximately 22% in Milan trading, following a previous drop of 5.7% on Thursday [1] - U.S.-listed shares are expected to see a similar decline, indicating a substantial market reaction [1] - If these losses persist, it will represent the largest one-day percentage drop for Stellantis shares, according to FactSet data [1]

Group 1 - The core viewpoint of the article indicates that investors had anticipated an asset impairment for Stellantis, which has now been confirmed by the company [1] - Analysts from Citigroup noted that the scale of the impairment, including cash payments, is a significant negative factor, despite being paid in installments [1] - Stellantis announced a comprehensive restructuring of its business and has recorded related asset impairment expenses [1] Group 2 - The company expects to report a net loss in the second half of 2025 and has suspended dividend payments [1] - Citigroup predicts that any potential upside for Stellantis will be linked to capacity reductions, although the company did not announce any factory closures on Friday [1] - Stellantis's stock price fell by 18% to €6.71, with an intraday drop of up to 21% earlier [1]

在高昂成本和疲软的电动车销售面前，全球第四大汽车制造商Stellantis正以一笔约220亿欧元的巨额减记承认战略误判。这 家拥有14个品牌的汽车巨头周五宣布全面调整运营策略，从退出电池厂合资项目到停产纯电皮卡，标志着其激进电动化计 划的实质性撤退。 据彭博报道，Stellantis预计2025年下半年净亏损将高达210亿欧元，全年营业利润率仅为低个位数，并将取消今年的股息派 发。这笔减记费用包括约65亿欧元现金支付，主要用于补偿供应商，相关费用将计入2025财年下半年，但不会影响调整后 营业收入。 "这些变化在很大程度上反映了高估能源转型速度的代价，"首席执行官Antonio Filosa在声明中表示。他将减记归因于"此前 糟糕的运营执行所造成的影响，我们的新团队正在逐步解决这些问题"。 消息公布后，Stellantis股价一度暴跌19%，所宣布的减记规模超出分析师预期。该股过去一年已累计下跌超过40%。 电动化战略全面收缩 Stellantis正在系统性地削减电动车业务布局。公司宣布退出与韩国电池制造商LG Energy Solution Ltd.在加拿大的合资企 业，由LG收购其股份。2022年，Ste ...

这笔庞大的支出主要源于管理层承认此前过度乐观地预估了全球电动汽车转型的速度，导致公司战略与 市场实际需求、消费者购买力及基础设施现状产生了严重脱节。Stellantis首席执行官安东尼奥·菲洛萨 (Antonio Filosa)坦言，公司必须通过此次财务上的"断臂求生"来修正过往在电动化道路上的激进扩张， 以应对当前纯电动汽车市场需求放缓带来的库存积压与利润侵蚀。 智通财经APP获悉，由于成本高昂且电动汽车销量疲软，Stellantis NV(STLA.US)将对其业务进行全面整 顿，并为此计提约 220亿欧元(约合 260亿美元) 的费用。此次减记包括约 65 亿欧元的现金支出，福特汽 车(F.US)、通用汽车(GM.US)及其他车企此前亦有类似举措。该公司周五表示，该决定是其计划于 5 月 发布的新战略的一部分。上述费用将于 2025 年下半年计入，作利润表外处理。 战略转型层面，Stellantis正加速由"全电动"愿景向"多能源平衡"策略回归。公司明确表示，未来将不再 盲目追求单一的电动化指标，而是优先考虑盈利能力与消费者的选择自由，这意味着部分利润微薄或无 法形成规模效应的纯电动项目已被取消或无限期 ...

Core Viewpoint - Stellantis shares listed in Milan experienced a trading halt after a significant drop of 14.4% due to the announcement of approximately 22.2 billion euros ($26.5 billion) in charges for the second half of 2025, linked to a reduction in electric vehicle development plans [1] Company Summary - Stellantis reported charges of around 22.2 billion euros ($26.5 billion) for the second half of 2025 [1] - The company is scaling down its plans for electric vehicle development, which has contributed to the financial charges [1] - The trading halt of Stellantis shares was triggered by the 14.4% decline in share price on Friday [1]

Group 1 - The charges indicate a strategic shift away from electric vehicles due to weaker-than-expected demand [1]

韩国LG新能源公司周五表示，计划以象征性价格100美元收购Stellantis持有的双方在加拿大电池合资企 业中的全部49%股份。 韩国LG新能源公司周五表示，计划以象征性价格100美元收购Stellantis持有的双方在加拿大电池合资企 业中的全部49%股份。 此举正值部分汽车制造商因美国总统特朗普政府的政策以及市场需求疲软而缩减电动汽车业务之际。 2022年，Stellantis和LG新能源宣布对该合资企业进行重大投资，作为这家汽车制造商雄心勃勃的电气 化战略的一部分。但现在，Stellantis和其他汽车制造商一样在缩减其电动汽车发展计划。 责任编辑：于健 SF069 此举正值部分汽车制造商因美国总统特朗普政府的政策以及市场需求疲软而缩减电动汽车业务之际。 2022年，Stellantis和LG新能源宣布对该合资企业进行重大投资，作为这家汽车制造商雄心勃勃的电气 化战略的一部分。但现在，Stellantis和其他汽车制造商一样在缩减其电动汽车发展计划。 责任编辑：于健 SF069 ...

Core Viewpoint - Stellantis expects to incur a financial impact of approximately 22 billion euros ($26 billion) as it restructures its business to expedite the transition to electric and hybrid vehicles [1] Group 1: Financial Impact - The anticipated charges are primarily due to overestimating the pace of the energy transition, which has led to a disconnect with the actual needs and desires of car buyers [1] - The financial impact also reflects the consequences of previous operational inefficiencies, which are being progressively addressed by the new management team [2]