革新者的征程：北汽新能源从“规模加法”迈向“价值乘法”

Core Insights - The article highlights the transformation of Beijing Automotive Group's New Energy Vehicle (NEV) division into a competitive player in the market, showcasing strategic determination and market agility [1][12] - In 2025, the company achieved significant sales milestones, with total sales exceeding 200,000 units, representing an 84% year-on-year growth [3][12] - The successful launch of the L3 autonomous driving model, Alpha S, marks a significant technological advancement and commercial viability in the autonomous driving sector [5][7] Sales Performance - In 2025, Beijing Automotive's NEV division sold 209,576 vehicles, surpassing its annual target and demonstrating strong market acceptance [3] - The company achieved a monthly sales record of over 30,000 units for three consecutive months, indicating sustainable growth and market penetration [3] - The Xiangjie brand reached a milestone of over 10,000 units sold in December 2025, ranking among the top three in the luxury sedan segment [3][10] Technological Advancements - The Alpha S L3 model received official approval for L3 autonomous driving, allowing it to operate in designated areas of Beijing [5][6] - The vehicle is equipped with 34 sensors, including three LiDARs, and features a full redundancy safety architecture, emphasizing safety in autonomous driving [6][7] - The company is advancing its technology through partnerships, such as the collaboration with Xiaoma Zhixing for L4 autonomous driving solutions [11] Financial Performance - In Q3 2025, the company achieved a historic gross margin of 1.8%, with revenue reaching 5.867 billion yuan, marking three consecutive quarters of positive growth [7][10] - The improvement in gross margin signals a transition from strategic losses to a sustainable business model, indicating effective growth with profitability [7][10] Market Strategy - The company has established over 500 sales and service outlets across various city tiers, creating a robust market network that supports future growth [4] - The dual focus on scaling operations and enhancing quality is driving a new growth engine for the company, allowing for better resource allocation and market feedback [8][10] - The strategic shift from a traditional state-owned enterprise model to a more agile, technology-driven approach is redefining the company's identity in the automotive industry [12][14]