JAC(SH:600418) Zhong Guo Zheng Quan Bao·2025-10-30 15:28Core Insights - Jianghuai Automobile reported a Q3 2025 sales volume of 91,099 units, a quarter-on-quarter increase of 0.23%, and a revenue of 11.513 billion yuan, representing a year-on-year growth of 5.54% and a quarter-on-quarter growth of 20.44% [1] - The company has invested over 3 billion yuan in R&D in the first three quarters, marking a year-on-year increase of over 30% [1][4] Group 1: Brand Development - The Zun Jie brand is positioned to enhance long-term value, with the Zun Jie S800 model, co-developed with Huawei, achieving over 15,000 pre-orders within four months, indicating strong market interest [2][3] - The Zun Jie S800 has been recognized as a "patent-intensive product" with 341 patent applications, showcasing the brand's innovation capabilities [4] Group 2: R&D and Manufacturing - Jianghuai has established a global top-tier R&D and innovation system, collaborating with over 5,000 professionals and top universities to develop new technologies and materials [3] - The company has created a world-class smart factory, integrating digital R&D and green manufacturing, in partnership with Huawei [3] Group 3: Market Performance - In the first three quarters, Jianghuai's sales of new energy light trucks exceeded 15,000 units, a year-on-year increase of 62%, ranking third in the industry [4] - The company has successfully established five international markets with annual sales exceeding 10,000 units, maintaining the top position in mid-to-high-end light truck exports for 14 consecutive years [4] Group 4: Strategic Partnerships - Jianghuai has deepened its strategic cooperation with Huawei, moving beyond simple technology procurement to a phase of deep integration and mutual empowerment [6][7] - A new long-term strategic cooperation agreement with CATL marks a shift from a supply-demand relationship to a collaborative innovation partnership in advanced battery technology [7][8] Group 5: Future Outlook - Jianghuai aims to leverage innovation and user-centric strategies to drive high-quality development, contributing to the advancement of China's automotive industry [8]