JAC(SH:600418)2025-06-03 04:35Investment Rating - The report does not explicitly state an investment rating for the industry or the specific vehicle model, but it highlights the potential for the Hongmeng Zhixing brand to disrupt the high-end automotive market [4][14]. Core Insights - The launch of the Zun Jie S800 marks a significant step for the Hongmeng Zhixing brand into the ultra-high-end market, aiming to compete with established foreign luxury brands such as Audi A8, BMW 7 Series, and Mercedes-Benz S-Class [4][14]. - The Zun Jie S800 is equipped with Huawei's latest full-stack intelligent technologies, including the ADS4 autonomous driving system, which positions it as a leading model in the luxury segment [2][4]. - The pricing of the Zun Jie S800 ranges from 708,000 to 1,018,000 yuan, making it the highest-priced model in the Hongmeng Zhixing lineup [3][10]. Summary by Sections Event Overview - On May 30, 2025, the Zun Jie S800, developed by Jianghuai Automobile in collaboration with Huawei, was officially launched with a price range of 708,000 to 1,018,000 yuan, with mass deliveries expected to begin in mid-August [1][9]. Product Features - The Zun Jie S800 features six advanced intelligent technologies, including the Tuling Longxing platform and the Huawei Giant Whale Battery 2.0, enhancing its appeal in the luxury market [2][4]. Market Outlook - The Zun Jie S800's release signifies a strategic move by Hongmeng Zhixing to penetrate the ultra-high-end market, which has been dominated by foreign brands. The report suggests that this model could redefine the competitive landscape in this segment [4][14]. - Historical sales data indicates that foreign luxury brands have seen significant sales in China, with Audi A8, BMW 7 Series, and Mercedes-Benz S-Class collectively selling approximately 61,000 units in 2021 and 47,000 units in 2024 [14][15]. Competitive Analysis - The Zun Jie S800 aims to challenge the existing market players, similar to how the Hongmeng Zhixing's previous model, the Wen Jie M9, successfully disrupted the mid-to-high-end SUV market [14].