长城证券-北汽蓝谷-600733-两极向上：享界渐入佳境、极狐破局在即-250911

Group 1 - The core viewpoint of the article highlights the positive impact of Huawei's ecosystem on the company's high-end smart new energy products, particularly the "Xiangjie" brand, which has shown strong product performance and sales in its respective market segments [1] - The company has successfully launched the "Xiangjie S9" extended-range model, achieving sales of 300 units, indicating a strong market entry [1] - The "Jiku" brand has established a comprehensive product layout including sedans, SUVs, and MPVs, with plans to adjust pricing strategies to penetrate the mainstream consumer market starting in 2025 [1] Group 2 - The company anticipates that the product cycle for the "Jiku" brand will begin to show scale effects, leading to a potential turnaround in profitability, while the "Xiangjie" brand is expected to stabilize its sales growth [1] - Projections for the company's revenue in 2025, 2026, and 2027 indicate a positive trend, supported by the performance of both brands [1]