JUNEYAOAIR(SH:603885) Xin Lang Ke Ji·2025-06-05 00:37Core Viewpoint - The launch of the first model, Jixiang AIR, by Jixiang Airlines' subsidiary, Jixiang Automotive, marks a significant move into the consumer vehicle market, being the first of its kind for a domestic airline [2][5]. Group 1: Product and Market Positioning - Jixiang AIR is priced between 147,800 and 159,800 yuan, with two versions offering ranges of 435 km and 530 km respectively, but lacks competitive features compared to rivals like BYD, Leap Motor, and Xpeng [6][7]. - The vehicle is only available for test drives in Shanghai, limiting consumer access and indicating a slow market rollout [7]. - The promotional strategy includes offering 12 flight tickets over three years to car buyers, aiming to attract specific consumer groups [6][7]. Group 2: Industry Challenges - The automotive market is highly competitive, with many cross-industry ventures failing to achieve significant sales, as seen with brands like Jishi and Vala [8][9]. - Jixiang Airlines' financial performance shows limited capacity for substantial investment in automotive manufacturing and R&D, with a reported revenue of 5.722 billion yuan and a net profit decline of 7.87% [9][10]. - The company faces challenges in technology accumulation, production capabilities, sales channel development, and after-sales service, which are critical for success in the automotive sector [11].