证 券 研 究 报 告 汽车周度批发/零售量：根据乘联会数据，2026 年 1 月 12 日-1 月 18 日，国内乘用车厂商日均批发量为 5.12 万辆/天，同比-28.00%；国内 乘用车厂商日均零售量为 5.02 万辆/天，同比-22.00%。 特斯拉计划 27 年面向公众销售 Optimus 机器人，红旗全固态电池首台 样车下线 ————汽车与零部件行业周报（2026.1.19-2026.1.25） [Tabl市e_场Su回mm顾ary] 汽车板块涨跌幅+2.20%，子板块中汽车服务表现最佳。过去一周， Wind 全部 A 股涨跌幅为+1.55%，申万汽车涨跌幅为+2.20%，在 31 个申万一级行业中排名第 15 位，处于中游位置。汽车行业各子板块中 汽车服务+6.87%、汽车零部件+3.93%、商用车+3.61%、摩托车及其 他+1.34%、乘用车-1.65%。 [行Ta业ble_Industry] : 汽车 [T分ab析le师_Author] : 仇百良 申万汽车行业中，涨跌幅前五位的公司为新坐标+36.30%、铁流股份 +32.97% 、 潍 柴 重 机 +27.97% 、 联 诚 精 密 + ...

NewBridge Asset Management, an investment management company, recently released its Q4 2025 letter for “NewBridge Large Cap Growth Equity Strategy”. A copy of the letter can be downloaded here. Equity markets continued their upward momentum in the fourth quarter, driven by resilient economic growth and solid corporate returns. In the fourth quarter, large-cap growth outperformed, while in the third quarter, small-cap and value equities exceeded the growth strategy. The NewBridge Large Cap Growth Strategy g ...

The fourth quarter earnings season kicks into high gear this week, with Big Tech results from Microsoft (MSFT), Meta (META), Tesla (TSLA), and Apple (AAPL) headlining the earnings calendar. An optimistic consensus is forming: As of Jan. 23, 13% of S&P 500 (^GSPC) companies have reported fourth quarter results, according to FactSet data, and Wall Street analysts estimate an 8.2% increase in earnings per share for the fourth quarter. If that rate holds, it would represent the 10th consecutive quarter of ann ...

IT之家 1 月 27 日消息，欧洲汽车制造商协会（ACEA）当地时间周二发布的数据显示，2025 年欧洲新车注册量增长 2.4%，达到 1330 万辆，12 月份再度实 现反弹。尽管这一数据对饱受关税压力与竞争加剧困扰的行业而言是利好消息，但销量仍比疫情前水平低约 15%。 去年欧洲汽车销量增长部分得益于电动汽车销售的复苏。随着售价约 2 万欧元（IT之家注：现汇率约合 16.5 万元人民币）的更多车型上市，市场需求被有 效激活。这类车型包括 Stellantis 集团旗下的雪铁龙 ë-C3 城市车，以及比亚迪等中国品牌进口车型。纯电动汽车注册量激增 30%，该动力类型已占据整体市 场约五分之一的份额。 不过，这一表现仍略低于预期。由于欧洲充电基础设施尚不完善，许多消费者转而选择兼具电池与内燃机的混动车型。大众和保时捷均已调整其电动化战 略，以应对增长放缓的趋势，两家车企均计划推出更多混动车型。去年，插电式混合动力汽车销量增长 33%，成为该地区增长最快的动力类型。 彭博行业研究分析师吉莉安 · 戴维斯表示，受新补贴政策及多款新一代车型上市推动，欧洲汽车销量今年有 望继续增长。戴维斯在一份报告中指出，中国品 ...

Tesla Stock Rises. Why Its Earnings Are Going to Be 'Ugly.' - Barron'sSkip to Main ContentThis copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.# Tesla Stock Rises. Why Its Earnings Are Going to Be 'Ugly.'By [Al Root]ShareResize---ReprintsIn this article[TSLA][SPX][DJIA]Tesla s ...

新力量 New Force 第一上海研究部 research@firstshanghai.com 【公司评论】 特斯拉 2025Q4 业绩前瞻 【行业评论】 互联网行业周报 【宏观经济评论】 第一上海——First Call 一月策略（二） 第一上海证券有限公司 香港中环德辅道中 71 号永安集团大厦 19 楼 咨询热线：400-882-1055 服务邮箱：Service@firstshanghai.com 网址：www.mystockhk.com 第一上海证券有限公司 www.mystockhk.com 总第 4952 期 2026 年 1 月 27 日 星期二 研究观点 第一上海 新力量 New Force 【公司评论】 | 李京霖 | | --- | 852-25321957 jinglin.li@firstshanghai.com.hk 唐伊莲 alice.tang@firstshanghai.com.hk | 行业 | 汽车 | | --- | --- | | 股价 | 449.06 美元 | | 市值 | 1.49 万亿美元 | | 总股本 | 33.26 亿股 | | 52 周高/低 | 499 ...

更多汽车出行资讯…… 1.【越南电动车商VinFast将与Autobrains共同开发自动驾驶技术】据1月26日声明，越南电动车商 VinFast与自动驾驶技术公司Autobrains达成合作，共同开发自动驾驶技术。声明称，在驾驶辅助系 统方面，两家公司将专注于提升VinFast即将推出的电动汽车技术水平，并在此基础上进一步增强 VinFast现有的L2级自动驾驶能力。（新浪财经） 2.【特斯拉2025年欧洲销量收官下滑，比亚迪势头强劲】据欧洲汽车制造商协会（ACEA）的数据显 示，12月，特斯拉车型在欧盟、英国、冰岛、列支敦士登、挪威和瑞士的新车注册量（销量的参考指 标）同比大跌20%，降至35280辆。全年来看，特斯拉销量同比萎缩27%，仅为238656辆。与之形 成鲜明对比的是，中国比亚迪上个月的新车注册量同比增长超两倍，达到27678辆；全年注册量则增 至187657辆。尽管比亚迪在欧洲的销量仍低于特斯拉，但上述数据已然体现出这两大电动汽车厂商 的发展态势正走向分化。2025 年，特斯拉全球销量同比下滑9%，第四季度销量同比跌幅更是达到 16%。该公司也将全球最大电动汽车制造商的桂冠拱手让给了中国车企 ...

EU car sales rise 1.8% in 2025 as EVs gain share; Tesla suffers sharp drop | Invezz false### Choose your country### Choose preferred languagePopular languagesAll available languages# EU car sales rise 1.8% in 2025 as EVs gain share; Tesla suffers sharp dropWritten byVatsala G.Edited byAnanthu C.Written on Jan 27, 2026Reading time 3 minutesNew car sales in the European Union rose modestly last year, driven by growing demand for electric vehicles, though overall volumes remain well below levels seen before th ...

U.S. stock futures are presenting a mixed picture this Tuesday, January 27, 2026, as investors navigate a busy week dominated by corporate earnings reports, a crucial Federal Reserve policy meeting, and fresh geopolitical developments. While technology-focused futures show upward momentum, broader market indicators suggest a more cautious approach in premarket trading.Premarket Activity and Index FuturesAs of early Tuesday, premarket trading indicates a divergence among the major U.S. indexes. Nasdaq 100 fu ...

Core Insights - 2026 is expected to see continued significant spending on artificial intelligence infrastructure by major tech companies, following a substantial increase in 2025 [1][2] - The earnings season for major tech firms will provide insights into their spending plans and expected profitability from AI investments [2][3] Group 1: Capital Expenditures - The four hyperscalers—Microsoft, Meta, Alphabet, and Amazon—are projected to increase capital expenditures to over $470 billion in 2026, up from approximately $350 billion in 2025 [3] - Meta has raised its capital expenditure guidance for 2025 to between $70 billion and $72 billion, with analysts forecasting nearly 57% growth in 2026 to over $110 billion [18][19] - Amazon's capital expenditure forecast for 2026 has been increased to $125 billion, with analysts expecting it to grow to $146 billion [25][26] Group 2: Company-Specific Developments - Microsoft is under pressure to control costs while expanding its Azure cloud unit, with capital expenditures expected to rise to $98.8 billion this fiscal year [11][12] - Meta's AI investments have raised concerns among investors due to its reliance on digital advertising for revenue, especially after a failed product launch [16][17] - Apple is focusing on a partnership with Google for its Siri overhaul, while also monitoring its capital expenditure costs and potential iPhone sales growth [21][24] Group 3: Market Dynamics - OpenAI's commitments have reached $1.4 trillion, necessitating ongoing fundraising to support its plans, which are closely tied to the broader tech industry [6][7] - Alphabet has increased its capital expenditure forecast for 2025 to a range of $91 billion to $93 billion, with expectations of over $115 billion in 2026 [30] - Tesla's automotive deliveries fell by 8.6% in 2025, and investors are keen to see updates on its core automotive and energy sales, as well as future growth from new ventures [35][36]