消息面上，根据小鹏汽车2月1日公告，公司1月交付新车20011辆，同比下降34.07%，环比下降 46.65%。交银国际认为，1Q26车市受季节性淡季与前期消费透支的双重影响，整体表现平淡。尽管以 旧换新政策的延续对年初预期形成支撑，但受限于15万元以内车型补贴力度退坡，消费者观望情绪加 剧，倾向于等待地方补贴细则落地，致使年初部分购车需求延后释放。 小鹏汽车-W(09868)续跌超3%，截至发稿，跌3.07%，报64.75港元，成交额5.28亿港元。 ...

消息面上，根据小鹏汽车2月1日公告，公司1月交付新车20011辆，同比下降34.07%，环比下降 46.65%。交银国际认为，1Q26车市受季节性淡季与前期消费透支的双重影响，整体表现平淡。尽管以 旧换新政策的延续对年初预期形成支撑，但受限于15万元以内车型补贴力度退坡，消费者观望情绪加 剧，倾向于等待地方补贴细则落地，致使年初部分购车需求延后释放。 智通财经APP获悉，小鹏汽车-W(09868)续跌超3%，截至发稿，跌3.07%，报64.75港元，成交额5.28亿 港元。 ...

Group 1 - The core point of the article is that XPeng Motors is undergoing significant organizational restructuring by merging its Autonomous Driving Center and Smart Cockpit Center into a new General Intelligence Center, led by Liu Xianming, which will report directly to CEO He Xiaopeng [2] - This restructuring aligns with XPeng's strategic shift towards becoming a "physical AI company," emphasizing the integration of AI capabilities into its product offerings [2] - XPeng launched four new models at the 2026 Global New Product Launch on January 8, with the Ultra and Ultra SE versions featuring the company's self-developed second-generation VLA, which is touted as the industry's first cross-domain model achieving L4 initial capabilities [2] Group 2 - The company is actively preparing for street tests of its autonomous ride-hailing service and plans to initiate mass production of humanoid robots later this year, indicating a focus on both automotive and robotic applications as core vehicles of "physical AI" [3] - On February 1, XPeng announced the delivery of 20,011 new vehicles in January 2026, with an internal sales target set between 550,000 to 600,000 units for the entire year, amidst increasing competition and ongoing price wars in the Chinese automotive market [3] - The emphasis on the self-developed "Turing" AI chip is seen as a key factor for the company to gain market competitiveness by combining AI capabilities with its existing advantages [2]

Core Viewpoint - Xiaopeng Motors has merged its two intelligent departments, the Autonomous Driving Center and the Intelligent Cockpit Center, into a new entity called the General Intelligence Center, aimed at enhancing AI capabilities across automotive and robotics applications [1] Group 1: Organizational Changes - The General Intelligence Center will be led by Liu Xianming, the former head of the Autonomous Driving Center, and will report directly to CEO He Xiaopeng [1] - The new department will establish secondary organizations focused on foundational models, infrastructure, platform delivery, and product quality [1] Group 2: AI and Technology Integration - The AI and large model research capabilities of the two original teams have already been integrated prior to the establishment of the new department [2] - Xiaopeng Motors launched four new vehicles on January 8, with the top model, Ultra, equipped with three Turing chips—two for intelligent driving and one for the intelligent cockpit [2] - The self-developed second-generation VLA vision-action large model for intelligent driving is set to be pushed to users starting in March, capable of operating across vehicles, Robotaxis, robots, and flying cars [2]

2月1日，各家车企相继发布了1月销量。从整体上看，汽车行业实现2026年"开门红"，大多数车企1月销量同比取得正增长，但这一同比增长是由于2025年春 节在1月，去年同期的新车销售基数较低。 环比数据上，大多数车企1月销量下滑明显，主要原因在于2025年12月新能源汽车还享受购置税全额减免政策，同时车企为年底冲量，在12月出台了许多其 他优惠政策。进入2026年1月后，新能源汽车购置税开始减半征收，车企购置税兜底政策也随之结束。另外，1月各地具体的购车补贴细则尚未全部出台，导 致消费者存在观望情绪，影响了车市终端销售情况。 具体来看，问界汽车1月交付约4万辆，同比增长83%，环比下滑30.74%；小米汽车1月交付超3.9万辆，去年同期为超2万辆，去年12月为超5万辆；零跑汽车 1月全系交付达3.21万辆，同比增长27%，环比下滑46.94%。 比亚迪1月销售21.01万辆，其中海外销量表现亮眼，乘用车及皮卡海外销售10万辆，同比增长43.3%。分品牌来看，比亚迪品牌销售17.75万辆；方程豹品牌 销售2.16万辆；腾势品牌销售6002辆；仰望品牌销售413辆。 长城汽车1月销售新车9.03万辆，同比增长11. ...

原自动驾驶一号位刘先明担任整合后的负责人。 文 丨 李安琪 编辑 丨 龚方毅 对 AI 的无限憧憬正在改变汽车公司的组织方式。定位 "面向全球的具身智能公司" 的小鹏汽 车，是最新一例。 我们独家获悉，近日小鹏汽车将两个智能化一级部门 —— 自动驾驶中心、智能座舱中心 —— 合并为通用智能中心。新部门由原自动驾驶负责人刘先明主导，直接向董事长、CEO 何小鹏汇 报。 有接近小鹏的知情人士告诉我们，通用智能中心是一个面向汽车 + 机器人的全新 AI 组织，将 围绕基座模型、Infra 底座、平台化交付、产品和项目质量等圈层结构设立相关二级组织。新部 门的 AI 技术中台底座，后续将同时为智能驾驶、智能座舱、机器人等应用层提供支撑。 调 整 前 ， 刘 先 明 与 智 能 座 舱 中 心 负 责 人 魏 斌 均 直 接 向 何 小 鹏 汇 报 。 刘 先 明 曾 在 Facebook （ 现 Meta）、通用汽车旗下的自动驾驶公司 Cruise 任职，从事机器学习与计算机视觉领域的前沿研究工 作。魏斌加入小鹏前，曾任高德地图产品总监，据了解目前魏斌已休假一段时间。 今年 1 月 8 日，小鹏汽车发布了 4 款新车 ...

Domestic News - The Ministry of Commerce and nine other departments encourage local governments to increase the number of subsidies for replacing old consumer goods during the Spring Festival, aiming to boost offline retail support and promote various product exhibitions [2] - The China Automobile Dealers Association reports that the automotive consumption index for January 2026 is 31.1, indicating a phase of adjustment in the automotive market due to multiple factors including the Spring Festival holiday and tax changes for new energy vehicles [4] - Guangdong province supports the testing and demonstration of intelligent connected vehicles in cities like Guangzhou and Shenzhen, promoting applications in areas such as logistics and smart sanitation [5] International News - Tesla confirms the mass production of its 4680 battery using dry electrode technology for both the anode and cathode, as disclosed in its fiscal year 2025 fourth quarter update [6] - Hyundai officially abandons the option to repurchase its vehicle manufacturing plant in St. Petersburg, Russia, indicating a permanent exit from local production [8] - Toyota's joint venture in Indonesia, PT Toyota-Astra Motor, has begun preparations for local production of hybrid vehicle batteries, establishing a dedicated production line [9] Corporate News - BYD announces the launch of a new automotive brand, Linghui, which will focus on B2B markets such as ride-hailing and corporate transportation, differentiating itself from the personal passenger vehicle market [10] - XPeng Motors officially starts large-scale overseas shipments of its 2026 model P7+, marking its entry into 18 countries [11] - Xiaomi's CEO Lei Jun responds to claims of a price collapse in the second-hand car market, highlighting that the SU7 electric model has a one-year resale value retention rate of 86.05%, ranking first according to a report [12] - Cao Cao Mobility announces that its Robotaxi 2.0 fleet is equipped with low-orbit satellite communication technology, which will enable new SOS features [13] - SAIC-GM-Wuling reports global sales of over 105,000 vehicles in January, with a significant year-on-year growth of over 40% in overseas markets [14] - Huawei's executive Yu Chengdong announces the upcoming launch of the new model Aito M6, indicating a strong product lineup for the spring [15]

（来源：三言科技） 小鹏港股、美股收盘均跌。其中港股收跌6.77%，美股收跌8.29%。 来源：市场资讯 | HK 09868 小鹏汽车-W | | | | | | 港股 | 美股 | | --- | --- | --- | --- | --- | --- | --- | --- | | 66.800 #元 -4.850 -6.77% | | | | | | | | | ○ 已收盘 02-02 16:00:00 北京时间 | | | | | | | | | 今开 | 68.000 | | 最高 | 68.000 | | 成交量 | 4313万股 | | 昨收 | 71.650 | | 最低 | 64.600 | | 成交额 | 28.42亿 | | 换手率 | 2.26% | | 市盈(TTM) | 亏损 | | 总市值 | 1276亿 | | ADR换算价(HKD) 0 64.931 | | | | | | | 相对港股 -2.80% | | 分时 | 五日 | 日K | 圖K | 目K | 季K | 年K | 更多 V | | 68.000 | | | | | | | -5.09% | | US XPEV ...

Group 1 - Trump and Modi reached a trade agreement to reduce tariffs on Indian goods from 25% to 18% and cancel an additional 25% tariff on Indian purchases of Russian oil. India committed to purchasing over $500 billion worth of U.S. goods in sectors including energy, technology, agriculture, and coal [2] - SpaceX announced the completion of its acquisition of xAI, with SpaceX valued at approximately $1 trillion and xAI at around $250 billion, resulting in a combined valuation of $1.25 trillion [2] Group 2 - The U.S. Labor Statistics Bureau will not release the January non-farm employment report due to a partial government shutdown, and the December job openings report will also be postponed [4] - U.S. stock markets saw all three major indices rise, with the Dow Jones up 1.05%, S&P 500 up 0.54%, and Nasdaq up 0.56%. Notable tech stocks like Intel rose nearly 5%, while Nvidia fell over 2% [5][6] - The Nasdaq Golden Dragon China Index fell 0.65%, with significant declines in Chinese stocks such as XPeng down 8.2% and BYD down 6.7% [5] Group 3 - The U.S. dollar index increased by 0.64%, while the offshore and onshore RMB showed slight fluctuations [8] - Gold and silver experienced significant volatility, with spot gold dropping over 4% and silver declining nearly 7%. WTI crude oil futures fell by approximately 4.71% [6][8] Group 4 - The Chinese manufacturing PMI for January rose to 50.3, indicating continued expansion, driven by improvements in employment and new orders [22] - Citigroup raised its GDP forecast for Hong Kong to 3.2% for the year, reflecting a more stable recovery in major industries [24]

Market Overview - On February 2, US stock indices closed higher, with the Dow Jones up 1.05%, S&P 500 up 0.54%, and Nasdaq up 0.56% [1] - Major technology stocks showed mixed results, with Apple rising over 4% and Nvidia falling nearly 3% [2] Technology Sector - The Philadelphia Semiconductor Index increased by 1.7%, with Micron Technology up over 5% and Intel up nearly 5% [2] - SanDisk's stock surged over 15% due to better-than-expected earnings, while Western Digital and Seagate also saw gains [3] - NAND flash memory prices are expected to rise by over 30% according to reports from SK Hynix and SanDisk [3] Energy Sector - The energy sector experienced declines, with ExxonMobil down over 2% and Chevron down more than 1% [3] - WTI crude oil futures fell by 4.71%, closing at $62.14 per barrel, while Brent crude oil futures dropped by 4.36% to $66.30 per barrel [4] Cryptocurrency Market - Bitcoin prices rose above $78,000 after previously dipping to around $74,560, with significant market volatility leading to over 170,000 liquidations [4] - Bitcoin ETF saw a net outflow of $1.61 billion in January 2026, indicating liquidity issues in the market [4] International Relations and Trade - A trade agreement between the US and India was announced, reducing tariffs on Indian goods from 25% to 18%, effective immediately [5] - India is expected to increase its procurement of US products, including energy and agricultural goods, valued at over $500 billion [5] - The Indian stock index Nifty 50 saw a rise in futures, and the Indian Rupee strengthened against the US dollar following the trade announcement [6]