Core Viewpoint - The rapid development of domestic new energy vehicles (NEVs) is notable, but there remains a significant demand for domestic fuel vehicles, indicating a complex market landscape [1]. Sales Performance - The best-selling fuel vehicle is the Xingrui, accounting for one-third of monthly sales, followed by Boyue L and Emgrand [3]. - The overall sales of fuel vehicles have remained stable compared to last year, but there is increased pressure from the growing interest in NEVs [4]. - The most popular fuel vehicles in the store include the M8, GS8, M6 series, and the Ying Su series, with Ying Su selling around 18-20 units monthly [6]. - The top-selling fuel cars are the fourth-generation CS75PLUS, CS55PLUS, and Yidong PLUS, collectively selling about 35 units monthly, representing over 65% of total sales [9]. Customer Demographics - Fuel vehicle buyers are predominantly middle-aged, with a mix of professions including factory workers, nurses, and teachers, often requiring vehicles for long-distance travel [3]. - The customer base for the Ying Su is diverse, including first-time buyers and retirees, with a general preference for the reliability of fuel vehicles over NEVs [6]. - Younger customers, often purchasing their first car, primarily consider fuel vehicles, with some interest in plug-in hybrids [10]. Market Trends - There is a noticeable decline in overall sales compared to last year, with profit margins also decreasing, leading to a push for additional services [7]. - The acceptance of NEVs is increasing, with customers recognizing the advantages in product configuration and overall purchase experience [7]. - The market for fuel vehicles is expected to improve slightly next year due to potential changes in tax policies and the reduction of subsidies for NEVs [13][15]. Competitive Landscape - Competing fuel vehicles include popular models like the Langyi and Suteng, with domestic brands such as Chery, GAC, and Changan being compared within similar price ranges [3]. - The lack of competitive pricing and product offerings in the NEV segment is noted, particularly in the 150,000 yuan price range, which is currently underserved [7]. - The best-selling fuel vehicles in the store include the Aiyue 5 and Aiyue 8, appealing to younger consumers due to their affordability and design [12].

（文/观察者网 张家栋 编辑/高莘） 据路透社当地时间11月3日报道，在雷诺与吉利强化在南美合作之际，雷诺仍在探索更多类似的全球化 合作新模式。 雷诺在巴西的库里蒂巴工厂 雷诺汽车官网 报道称，雷诺集团首席增长官法布里斯·坎博利夫（Fabrice Cambolive）表示，雷诺正在与包括中国奇瑞 在内的更多汽车制造商进行谈判，探讨合作生产和销售汽车的可能性。 外媒对此评价称，此举凸显了雷诺在全球市场与其他汽车制造商（尤其是中国汽车制造商）日益密切的 合作关系，同时，这类合作也能够提高其在海外工厂的效率并增强产品竞争力。 坎博利夫在谈及与吉利的合作加深时称，"这种合作模式显然是双赢的，因为我们能够拓展不同平台、 工业工具、工程技术和分销网络的使用渠道。" 他还表示，尽管目前还没有最终确定任何项目，奇瑞是雷诺正在接触以探讨类似合作的汽车制造商之 一。 对此，雷诺中国相关人士向观察者网表示，雷诺与吉利的合作以官方发布信息为准，但其与奇瑞的合作 暂时还没有相关信息。 不过，彭博社近日发布的消息称，有知情人士透露，雷诺和奇瑞之间的洽谈内容包括在哥伦比亚和阿根 廷的计划，奇瑞将通过提供资金和产品设计来换取使用雷诺现有工厂 ...

来源：市场资讯 （来源：国金证券第5小时） 量净额(单位: = ) | 申购价格 | 所属行业 | 发行市盈率 | 行业最近一个月平 | | --- | --- | --- | --- | | | | | 均静态市盈率 | | 9.00元 | 专用设备 | 14.52倍 | 38.54倍 | | | 制造业 | | | | | 可比公司 | | | | --- | --- | --- | --- | | 证券简称 | 市盈率(倍) | 市值(亿元) | 近一月涨跌 | | 蓝英装备 | -155.45 | 78.79 | 0.61% | | 联测科技 | 25.63 | 26.33 | -0.49% | 公司主营业务介绍 公司是我国领先的工业精密清洗领域专用智能装备生产商,产 品及服务主要应用于车辆动力总成、新能源三电系统等核心零 部件的精密清洗领域,以满足下游客户的精密制造需求。同 时,公司积极把握我国制造业高质量发展趋势,在现有业务技 术经验及市场资源等基础上,加速布局机器视觉检测产品,形 成企业发展的第二曲线。 | | | 主要财务数据 | | | --- | --- | --- | --- | | | ...

11月5日，有一只新股申购，为北交所的大鹏工业（920091.BJ），另有一只新股上市，为沪市主板的丰 倍生物（603334.SH）。 一只新股申购 大鹏工业是我国领先的工业精密清洗领域专用智能装备生产商，产品及服务主要应用于车辆动力总成、 新能源三电系统等核心零部件的精密清洗领域，以满足下游客户的精密制造需求。同时，公司积极把握 我国制造业高质量发展趋势，在现有业务技术经验及市场资源等基础上，加速布局机器视觉检测产品， 形成企业发展的第二曲线。 据招股书介绍，大鹏工业的专用智能装备产品主要应用于自动化机加工生产线和装配线上，能与各类加 工设备等机械设备共同组成生产线，使原材料完成预定的加工、装配过程，最终形成合格产品。 其中，公司的工业精密清洗装备主要应用于传统燃油汽车、混合动力车辆的动力总成和新能源车辆"三 电"系统的核心零部件生产线，在清洁度、生产节拍、智能化水平等方面均达到国际领先水平。 丰倍生物（603334.SH），公司成立于2014年，主营业务以废弃油脂资源综合利用业务为主，油脂化学 品业务为辅。 据招股书介绍，丰倍生物的废弃油脂资源综合利用业务主要产品为生物基材料和生物燃料，其中生物基 材料主 ...

Core Insights - The Hurun Rich List recently revealed that Lei Jun and Li Shufu have entered the top ten, with Lei Jun at fifth and Li Shufu at tenth, driven by significant wealth increases [2][6] - Despite their rankings, the stock prices of Xiaomi and Geely have declined, with Xiaomi experiencing a 25.2% drop from September 25 to November 3, while Geely's stock has seen a 14% decrease since the list's release [2][6] - Lei Jun's wealth surged by 196 billion yuan, marking a 151% increase, while Li Shufu's wealth grew by 800 million yuan, a 55% increase [10][11] Xiaomi Overview - Xiaomi's stock price saw a significant rise of 121% in 2024, but faced recent negative sentiment, leading to a cumulative increase of 266% in 2025 before the downturn [7][10] - The company reported Q2 2025 revenue of 116 billion yuan, a 30.5% year-on-year increase, and a net profit of 10.8 billion yuan, a 75.4% increase [7] - Lei Jun holds a 23.4% stake in Xiaomi, controlling approximately 64% of voting rights through a dual-class share structure [7][10] Geely Overview - Geely's stock has faced a six-day decline, with a 14% drop from its peak on August 25 to November 3 [6][11] - The company achieved a record revenue of 150.3 billion yuan in the first half of 2025, a 27% increase, and a core net profit of 6.66 billion yuan, a 102% increase [11][12] - Li Shufu controls 11 listed companies across various sectors, with a total market value of 353.3 billion yuan as of June 2025 [12][13] Comparative Analysis - Both Lei Jun and Li Shufu are recognized as industry integrators, with Lei Jun focusing on an ecosystem-driven approach and Li Shufu emphasizing manufacturing and technology [15][16] - Their strategies reflect a shift in the automotive industry towards comprehensive solutions, integrating core technologies, manufacturing systems, and user operations [15][17] - The potential for collaboration exists, as Geely's engineering capabilities complement Xiaomi's consumer electronics expertise, which could lead to new industry standards and competitive advantages [17]

智通财经APP获悉，11月5日，大鹏工业(920091.BJ)开启申购，发行价格为9元/股，申购上限为67.50万 股，市盈率14.52倍，属于北交所，东方证券为其保荐人。 据招股书，公司是我国领先的工业精密清洗领域专用智能装备生产商，产品及服务主要应用于车辆动力 总成、新能源三电系统等核心零部件的精密清洗领域，以满足下游客户的精密制造需求。同时，公司积 极把握我国制造业高质量发展趋势，在现有业务技术经验及市场资源等基础上，加速布局机器视觉检测 产品，形成企业发展的第二曲线。 财务方面，于2022年度、2023年度、2024年度及2025年1月-6月，公司实现营业收入分别约为2.47亿 元、2.60亿元、2.65亿元、1.29亿元人民币;同期，公司净利润分别约为3988.70万元、4847.03万元、 4309.36万元、1633.27万元人民币。 | 项目 | 2025年6月30日 /2025年1月-6 | 2024年12月31 日/2024年度 | 2023年12月31 日/2023年度 | 2022年12月31 日/2022年度 | | --- | --- | --- | --- | --- | | | ...

Group 1: Industry Insights - In October, the wholesale sales of new energy passenger vehicles in China reached 1.61 million units, marking a year-on-year increase of 16% and a month-on-month increase of 7%. Cumulatively, from January to October, the total sales reached 12.054 million units, reflecting a 30% year-on-year growth [1] - The strong market demand for new energy vehicles is evident, with the cumulative sales surpassing 12 million units, indicating increasing consumer acceptance [1] - The overall valuation and market confidence in the new energy vehicle sector are expected to improve, supported by policy backing and infrastructure development, which may enhance market activity [1] Group 2: Company Developments - Changan Automobile's indirect controlling shareholder, China Changan Automobile Group, has completed the transfer of shares, increasing its holding to 35.04%. This restructuring is not expected to significantly impact the company's operations or harm the interests of minority shareholders [2] - The restructuring is seen as a positive move for optimizing Changan Automobile's shareholder structure, potentially boosting market confidence in corporate governance and stability [2] - Geely Automobile is expanding its production capacity by repurposing the former SAIC-GM Beisheng factory to meet the rising demand for its Galaxy model, which has achieved a sales target of one million units ahead of schedule [3] - Geely's strategy to utilize existing resources rather than building new factories reflects a focus on cost control and efficiency, which may set a precedent for resource optimization in the industry [3] Group 3: Market Strategies - Horizon Robotics announced an extension of the purchase tax subsidy for its R7 and new S7 models, allowing customers to benefit from a subsidy of up to 15,000 yuan if the vehicle delivery occurs in 2026 due to reasons beyond the customer's control [4] - This extension aims to alleviate the financial burden on consumers and attract potential buyers who are still undecided, thereby helping the brand maintain stable sales amid market fluctuations [4] - The strategy is expected to enhance market share in a competitive environment for new energy vehicles [4]

| 2025年11月5日星期三| NO.1乘联分会：10月全国新能源乘用车厂商批发销量161万辆 11月4日，乘联分会发布10月新能源乘用车厂商批发销量数据。根据月度初步乘联数据综合预估：10月 全国新能源乘用车厂商批发销量161万辆，同比增长16%，环比增长7%。综合预估，今年1至10月累计 批发1205.4万辆，同比增长30%。 点评：乘联分会发布的数据显示，10月全国新能源乘用车的批发销量同环比均呈现增长，这表明行业依 然保持强劲的市场需求。尤其是1至10月累计销量突破1205万辆，反映出消费者对新能源车的接受度持 续提升。随着政策支持和基础设施完善，新能源车行业的整体估值和市场信心有望得到进一步提升，有 助于提升整个股市的活跃度。 NO.2长安汽车（000625）：间接控股股东中国长安汽车完成过户登记，持股比例升至35.04% 11月4日，长安汽车(000625.SZ)公告称，公司间接控股股东中国兵器装备集团有限公司实施存续分立， 分立为中国兵器装备集团有限公司(存续企业)和中国长安汽车集团有限公司(新设企业)。分立前兵器装 备集团所持长安汽车14.23%股份已分立至中国长安汽车。近日，相关股份已完成 ...

极氪9X 上市 高端市场加速发力。极氪、领克10 月分别销量21,423 辆、40,213 辆，1-10 月累计销量分 别16.5、28.2 万辆，同比-1.7%、+24.3%。9 月29 日，极氪旗下全球超豪华SUV 新旗舰极氪9X 正式上 市，限时置换补贴价45.59-58.99 万元，新车基于豪华电混专属架构浩瀚-S 打造，全系标配闭式双腔空 气悬架和双阀CCD 电磁减振器，配备双8295 座舱芯片，支持超级桌面2.0，智能驾驶提供两种方案，其 中千里浩瀚H7 方案将匹配英伟达Thor-U 芯片；千里浩瀚H9 方案配备双Thor-U 芯片，支撑L3 级自动辅 助驾驶能力，9X 上市后13 分钟内大定突破10,000 台，有望加速抢夺高端市场份额，高端车型盈利有望 在下半年逐步体现，增厚公司报表。 宣布股份回购计划，展现发展信心。10 月6 日，公司公告宣布拟实施一项最高金额达23 亿港元的股份 回购计划，该计划在获得香港联交所批准后，将通过自动化机制在公开市场分批回购，回购资金来自吉 利汽车现有的资本及现金储备，展现了吉利汽车对长期发展前景的坚定信心，回购将优化资本结构、提 升每股收益并有助合理反映公司 ...

Group 1 - New BYD Summer launched with a price range of 206,800 to 269,800 yuan, featuring four models and enhanced electric range and energy efficiency [4][12] - New Mazda EZ-6 launched with a price range of 119,800 to 162,800 yuan, offering both pure electric and range-extended versions with a total of 11 models [13][20] - New Zhiji LS9 available for pre-sale with a price range of 346,900 to 376,900 yuan, featuring advanced design and high-end configurations [21][29] - New Aion i60 available for pre-sale with a price range of 119,800 to 126,800 yuan, offering both range-extended and pure electric versions [30][39] - Geely acquires 26.4% stake in Renault Brazil, enhancing its market presence in Latin America [40][42] Group 2 - BYD Summer features fifth-generation DM hybrid technology, with a 110kW 1.5T engine and 200kW motor, offering a pure electric range of 100/218 km [10][12] - Mazda EZ-6's range-extended version includes a 70kW 1.5L range extender and offers a maximum comprehensive range of 1301 km [18][20] - Zhiji LS9 utilizes a "Star" super range-extending system with a maximum power of 390kW and a 0-100 km/h acceleration time of 4.9 seconds [27][29] - Aion i60's range-extended version features a 74kW 1.5L range extender and a comprehensive range of 1240 km [37][39] - Geely's partnership with Renault allows shared access to production capacity and market networks in Brazil, facilitating the expansion of both companies in the electric vehicle market [40][42]