问界M9持续热销 强产品周期驱动盈利提升

Core Insights - The 2025 Guangzhou Auto Show is showcasing the Wanjie brand, with the Wanjie M9 model attracting significant attention and achieving over 260,000 cumulative deliveries, setting a new record for luxury vehicles in the 500,000 range [1] - In October, Wanjie performed exceptionally well in the luxury segment priced above 300,000, projected to capture approximately 21% of the luxury car market share for the year, disrupting the previous dominance of joint venture brands like BBA [1] - According to CITIC Securities' latest report, Wanjie is currently in a strong product cycle, with the M8 and the new M7 models maintaining high sales, leading to a qualitative leap in the company's profitability structure and enhancing its profit capacity [1] Brand Development - The Wanjie M9 ranks first in the Net Promoter Score (NPS) among all new energy vehicle models, according to J.D. Power's 2025 semi-annual research on the health of new energy vehicle brands [1] - The China Automobile Dealers Association reports that the Wanjie M9 has maintained the highest resale value for plug-in hybrid (including range-extended) models for three consecutive months [1]