SAIC MOTOR(SH:600104) Hua Xia Shi Bao·2025-09-04 04:43Core Insights - The domestic sedan market is at a crossroads of technological iteration and user demand upgrades, with a focus on long-range hybrid vehicles and a shift from price competition to experience revolution [2][3][6] Group 1: Market Dynamics - The competition in the plug-in hybrid market has entered a "pseudo-involution" phase, where some manufacturers reduce battery capacity and pure electric range to lower prices, negatively impacting user experience [3][6] - Users prioritize three main concerns when choosing hybrid vehicles: long pure electric range, low fuel consumption, and reliable vehicle assurance [3][6] Group 2: Technological Advancements - The core technology of the new M7 DMH model is based on SAIC's self-developed DMH 6.0 super hybrid system, featuring an industry-first 21-in-1 hybrid management system that integrates multiple energy management components into a single chip [4][6] - The DMH system achieves a significant reduction in energy loss by 30% compared to traditional architectures, enhancing power response speed to the microsecond level [4][6] Group 3: Strategic Initiatives - SAIC has initiated a "large passenger vehicle integration" reform, consolidating its brands into a unified operational system to enhance efficiency and responsiveness [5][6] - The company aims to address traditional management issues by deeply integrating R&D, marketing, and supply chain processes, transitioning from "closed-door manufacturing" to "open-definition" [5][6] Group 4: Market Performance - In 2024, SAIC's passenger vehicle retail sales exceeded 814,000 units, with a year-on-year growth of 9.8% in the first half of 2025 [6] - The launch of the M7 DMH is seen as a significant step in the transition from price competition to a comprehensive competition based on technology, experience, and value [7][6]