SAIC MOTOR(SH:600104) Di Yi Cai Jing·2025-09-12 12:53Group 1 - The core viewpoint is that Zhiji is positioned as SAIC's highest-end brand and a key project in the new energy sector, which will remain unchanged [1] - Zhiji's new LS6 model has been launched with a starting price below 200,000 yuan, a decrease of over 40,000 yuan compared to the previous model's price of 239,900 yuan [1] - The new LS6 marks Zhiji's entry into the range-extended market, which has seen significant growth with nearly 20 new models launched this year [1] Group 2 - The cumulative sales of range-extended vehicles are projected to reach 1.167 million units in 2024, representing a year-on-year growth of 78.7% [1] - In the first half of this year, cumulative sales of range-extended vehicles reached 538,000 units, showing a year-on-year increase of 16.5% [1] - Zhiji's sales target for the year is 100,000 units, with a completion rate of 31.5% as of August, having sold approximately 32,000 units [1] Group 3 - The launch of the new LS6 and the upcoming LS9 is expected to align with the sales progress predicted at the beginning of the year [2] - The new brand Shangjie, co-created by SAIC and Huawei, has raised questions about the positioning of Zhiji and Shangjie in the market [2] - The LS6 and Shangjie H5 are targeted at different market segments and customer demographics, according to Zhiji's CMO [2]