New Car Launches - The new BMW i5 was launched with a price range of 368,000 to 458,000 yuan, featuring upgrades in comfort and battery optimization for improved range [3][8] - The all-new Li Auto L9 was revealed, with the top version "Li L9 Livis" priced at 559,800 yuan, showcasing significant design and technology enhancements [9][11][13] - Chery's new QQ3 has opened for blind orders, featuring a compact design and advanced driver assistance systems [14][17][21] Company Developments - NIO achieved its first quarterly profit, projecting an operating profit of approximately 290 million to 1 billion yuan for Q4 2025, and reached a milestone of 100 million battery swaps [51][54] - BYD announced its fifth sub-brand "Linghui Auto," targeting the B-end market with customized vehicles [55][57] - SAIC-GM-Wuling reported global sales of 105,792 units in January [58] Battery Market Insights - CATL maintained a dominant market share of 39.2% in the global battery market, with a projected global installation volume of 464.7 GWh for 2025 [61][62] - Changan announced the upcoming mass production of the world's first sodium battery passenger vehicle, indicating advancements in battery technology [64][67] International News - Canada announced a significant reduction in import tariffs on Chinese electric vehicles from 106.1% to 6.1%, facilitating easier market access for Chinese automakers [68][71]

| [姓名table_Authors] | 电话 | 邮箱 | 登记编号 | | --- | --- | --- | --- | | 刘一鸣(分析师) | 021-23154145 | liuyiming@gtht.com | S0880525040050 | | 张予名(研究助理) | 021-23154145 | zhangyuming@gtht.com | S0880125042241 | 本报告导读： 近一周，申万汽车指数相对持平，新能源整车指数上涨 2%，汽车零部件指数相对持 平，商用车指数相对持平。全新理想 L9 Livis 引领线控底盘新阶段。 投资要点： [Table_Invest] 评级： 增持 [Table_Report] 相关报告 股票研究 /[Table_Date] 2026.02.08 全新理想 L9 Livis 引领线控底盘新阶段 [Table_Industry] 汽车 汽车行业周报（2026/1/30-2026/2/6） 汽车《AI 应用重要阵地，Robotaxi 还看中国》 2026.02.04 汽车《特斯拉加速 AI 转型，将发布第三代人形 机器人 Optimus》2026. ...

Core Viewpoint - The Chinese automotive industry is facing a slowdown in sales growth due to policy adjustments and the holiday season, aligning with predictions of a market shift in 2026 [1][2]. Industry Overview - According to Morgan Stanley, Chinese passenger car sales are expected to grow by 9% year-on-year in 2025, reaching a historical high, before declining by 5% in 2026 [2]. - Despite continued growth in new energy vehicle (NEV) sales and exports, a potential decline of around 30% in the first quarter is anticipated due to changes in subsidies and purchase tax policies, which may further impact annual sales [4]. - The industry consensus indicates that the Chinese automotive sector is entering a decisive phase, with pessimistic views suggesting that only 5-7 NEV companies may survive in the coming years, while optimistic estimates suggest a maximum of 10 [5]. Competitive Landscape - As competition intensifies, new models are set to launch, with over 20 different NEV models preparing to enter the market post-Spring Festival, indicating a fierce battle for market share in the upcoming months [6][7]. - The focus of new vehicle launches is on high-end features, with three key themes identified: high-end, high-end, and high-end [8]. New Model Highlights - The new Li Auto L9 features a larger size and advanced technology, including a 72.7 kWh battery and various high-tech components, positioning it as a critical product for Li Auto's success this year [11]. - The Xiaomi YU7 GT, with enhanced performance specifications, aims to compete directly with high-end models like the Porsche Cayenne Turbo GT [15]. - The AITO M6, a new model from AITO, is designed to target the market segment dominated by Model Y and Li L6, offering both pure electric and range-extended versions [19]. - XPeng's GX model aims to leverage L4-level autonomous driving technology, featuring advanced specifications and a focus on high-end market penetration [26]. - The Wey V9X, as a new model from Great Wall Motors, is positioned to compete with other large SUVs in the market, although pricing details are yet to be announced [31]. - The Volvo ES90, a pure electric sedan, is part of Volvo's accelerated electrification strategy, sharing technology with the EX90 and focusing on safety, range, and intelligence [44]. - The Zeekr 8X performance version emphasizes extreme performance and rapid charging capabilities, set to compete with the Xiaomi YU7 GT [49].

以下文章来源于螺旋实验室 ，作者螺旋君 螺旋实验室 . 公众情绪瞭望者 来源丨 螺旋实验室（ID：spiral_lab） 作者丨无情 编辑丨坚果 图源丨Unsplash 2025年，全球汽车行业的价格战打得刀光剑影，市场格局也迎来了新变化，曾经的"销量王"不再稳 守龙门，更多后起之秀崛起，车圈竞争变得更加激烈。 对于这样的变化，有的企业选择直面竞争，迎难而上；但也有企业选择了另一条截然不同的道路，往 汽车以外的方向讲故事。 近日，特斯拉发布了2025年四季报，全年汽车交付量同比下降8.6%至164万辆。但在财报发布后， 特斯拉的股价涨幅一度超过4%，市场似乎并不在意其汽车业务下滑的事实。 无独有偶，理想董事长李想近期召开了一场全员大会，但出乎很多人意料，整场会议并未深度提及汽 车销量、产品迭代，而是全程围绕AI领域，李想更笃定"一定要做机器人"。 然而，特斯拉和理想并非孤例。近几年来，当消费者在谈及汽车市场，仿佛都有一种车企越来越不像 汽车公司的感觉：小鹏端出被误以为是"真人套皮"的人形机器人、比亚迪设立未来实验室专攻具身人 工智能领域……一时间，车企似乎集体"不务正业"。 当传统车企不再埋头"造车"，而是集 ...

Group 1 - US stock market indices experienced significant gains, with the Dow Jones rising 2.47% to surpass 50,000 points, marking a new closing high, and a weekly increase of 2.5% [1] - The Nasdaq Composite rose by 2.18%, with a weekly decline of 1.84%, while the S&P 500 increased by 1.97% with a weekly drop of 0.1% [1] - The Philadelphia Semiconductor Index surged by 5.7%, with Nvidia increasing nearly 8%, adding $325 billion in market value, and Broadcom rising over 7% [1] Group 2 - Cryptocurrency and precious metals saw notable gains, with Circle and Coinbase rising over 13%, and AMD and Coherent increasing over 8% [1] - The Nasdaq Golden Dragon China Index rose by 3.71%, with a weekly increase of 0.99%, highlighting strong performance among popular Chinese stocks [1] - Notable gains in Chinese stocks included XPeng up 4.9%, NIO up 7.4%, and Baidu up 5%, indicating positive sentiment in the Chinese market [1] Group 3 - The AI ETF (product code: 515070) tracked the CSI Artificial Intelligence Theme Index and saw a five-day decline of 8.45% with a P/E ratio of 60.69 [2] - The Gaming ETF (product code: 159869) tracked the CSI Animation and Gaming Index, experiencing a five-day decline of 3.77% with a P/E ratio of 39.87 [2] - The Robot ETF (product code: 562500) tracked the CSI Robot Index, while the A50 ETF (product code: 159601) tracked the MSCI China A50 Connect RMB Index [2]

Market Overview - After three days of selling pressure, the US stock market experienced a significant rebound, with the S&P 500 index recording its largest single-day gain since May of the previous year, and the Dow Jones Industrial Average surpassing the 50,000 points mark for the first time in history [1] - The S&P 500 index rose by 1.97% to close at 6,932.3 points, the Nasdaq Composite increased by 2.18% to 23,031.21 points, and the Dow Jones Industrial Average climbed by 2.47% to 50,115.67 points [1] Key Stock Performances - Nvidia saw a single-day increase of over 7%, adding more than $320 billion to its market capitalization, while other cyclical/value stocks like Caterpillar, Goldman Sachs, and JPMorgan also attracted significant capital inflows [1] - Despite the overall market rally, Amazon's stock fell over 5% after announcing a capital expenditure of up to $200 billion for 2026, indicating skepticism about AI spending [4] - Major tech stocks showed mixed results, with Nvidia up 7.87%, Apple up 0.8%, Google-A down 2.53%, and Microsoft up 1.9% [6] Sector Movements - The precious metals sector, represented by silver, rebounded nearly 10%, while Bitcoin surged close to 12%, reflecting a risk-on sentiment in the market [3] - The semiconductor sector performed well, with AMD rising 8.28%, and companies supporting Amazon's chip production, such as Marvell Technology, increasing by 8.18% [6] Chinese Stocks Performance - Chinese stocks continued their strong performance, with the Nasdaq Golden Dragon China Index rising by 3.71%. Notable gains included Alibaba up 3.01%, JD.com up 2.75%, and NIO up 7.23% [7] Company-Specific News - Tesla is reportedly evaluating options to increase its solar production capacity, including expanding its Buffalo, New York plant to 10 gigawatts and potentially building additional factories in New York, Arizona, or Idaho [8] - The FDA announced plans to crack down on illegal GLP-1 drugs, impacting companies like Hims & Hers Health, which saw a post-market drop of over 13% [9] - Stellantis faced a significant decline of 23.69% after announcing a restructuring plan that would lead to a €22.2 billion loss due to a reduction in its electric vehicle business [10]

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 近日，中国汽车流通协会发布的数据显示，1月上半月，车市销量较2025年12月同期下降34.2%，较 2025年12月下半月下降66.4%。与此同时，国内车企陆续公布的2026年销量目标相较于过去几年动辄翻 倍的激进态势，已趋于理性。 1月车市销量同比上升主要受去年同期低基数影响，而环比出现下滑，则主要源于2025年底新能源汽车 购置税免征政策即将结束，车企去年年底集中促销导致部分需求提前释放。中国汽车流通协会预计，1 月车市整体零售销量约为180万辆，环比下降20.4%，同比微增0.3%。乘用车市场信息联席分会预计， 2026年国内乘用车零售销量将与2025年基本持平，出口仍将保持10%以上的中高速增长。 面对市场正从高速增长转向平稳增长的新阶段，车企年度销售目标也普遍趋于务实。从已公布的目标 看，吉利汽车2026年销量目标定为345万辆，同比增长约14%；长安汽车目标增幅为13.3%；奇瑞汽车目 其次，汽车产业应尊重产业规律。我国新能源汽车行业创新活跃，尤其是一些新势力品牌通过快速推出 新产品、新功能吸引消费者，形成了一种以"产品快速 ...

小鹏汽车(XPEV.N)涨幅超5%。 本文源自：金融界AI电报 ...

格隆汇2月7日｜美股市场中概新能源汽车股集体走强，其中，蔚来涨8%，理想汽车涨超6%，小鹏汽车 涨超4%。 ...

Market Overview - The U.S. stock market indices experienced a significant rebound, with all three major indices rising over 1% as of February 6, 22:50 Beijing time, indicating a recovery from previous sell-offs in AI stocks [1][2] - Major technology stocks saw substantial gains, with Nvidia up 5.6%, AMD up 7%, and Broadcom up 5.1%, driven by renewed interest in AI infrastructure following Amazon's announcement of a $200 billion capital expenditure plan [1][2] Precious Metals - The precious metals market also saw a strong recovery, with spot gold rising 3.39% to $4,939.35 per ounce and spot silver increasing 7.22% to $76.02 per ounce as of the same time [2][3] - Morgan Stanley's report suggests that the long-term bullish trend for gold remains intact, supported by a weak dollar environment, as long as the dollar index stays below 100 [3] Geopolitical Developments - Recent negotiations between Iran and the U.S. in Muscat, Oman, have concluded temporarily, with both sides agreeing to continue discussions, which may impact market sentiment and geopolitical stability [4][5] - The situation remains tense, with Iran expressing readiness to respond to any military actions, particularly in light of increased U.S. military presence in the region [5]