近年来，全球贸易保护主义抬头，安世半导体等热点事件再次引发行业对芯片供应链安全的高度关注，凸显出在全球政治经济格局波动 背景下，汽车供应链尤其是智能新能源汽车供应链所面临的机遇与挑战并存。 在这一背景下，11月21日，以"重构开放共享和韧性可持续供应链体系"为主题的智能新能源汽车供应链创新暨淮南深度融链发展大会 在安徽淮南顺利召开。会上，车百会理事长张永伟发表了题为《全球汽车供应链变革新趋势》的主旨演讲，从全球视野出发，系统分析 了汽车供应链正在经历的深刻变革，并对中国供应链企业如何把握机遇、应对挑战提出了前瞻性思考。 一、中国在全球汽车供应链中地位持续提升 张永伟指出，中国在全球汽车供应链中的作用正变得越来越突出，这已成为行业共识。无论是整车企业还是零部件供应商，在走向国际 市场的过程中都受到广泛欢迎。这种优势源于中国在电动化和智能化领域取得的先行发展地位，形成了技术与产业发展的时间差。 在具体领域，中国企业在全球电池装机量中的份额已接近70%，连续多年保持领先。更值得关注的是，在智能化领域，中国供应链企业 实现了从"输入"到"输出"的转变。五年前，中国智能汽车零部件还主要依赖国外技术，如今已开始向海外输出 ...

Core Insights - The global automotive industry is undergoing a transformation towards electrification, intelligence, and globalization, with Chinese supply chain companies evolving from "followers" to "leaders" on the global stage [1][3] Group 1: Trends in the Automotive Supply Chain - Trend 1: China's global position in the supply chain is rising, with the "Chinese content rate" becoming a key indicator of success. Chinese companies have a nearly 70% share in the global battery market and are transitioning from importing to exporting in the smart technology sector [4][5] - Trend 2: Batteries, chips, and software are identified as the three core competitive areas in the supply chain, with significant challenges in resource concentration and technological innovation. The need for domestic operating systems in vehicles is emphasized to avoid high switching costs in the future [5][6] - Trend 3: The globalization of the Chinese supply chain is evolving from "trade going out" to "local manufacturing," with the innovative "dual factory" model addressing localization challenges [6][7][8] Group 2: Cross-Industry Extensions and Supply Chain Security - Trend 4: The automotive supply chain is extending into new fields such as robotics and low-altitude economy, providing support for emerging industries while offering new opportunities for traditional automotive companies [9] - Trend 5: Supply chain security has become a strategic priority for automotive companies, shifting focus from lean production to building a stable supply chain system [11][12] - Trend 6: Component manufacturers are encouraged to adopt rapid response and technological iteration strategies to adapt to industry changes and reduce dependency on traditional production models [13][14] Group 3: Addressing Supply-Demand Imbalances - Trend 7: The primary contradiction in the supply chain is the supply-demand imbalance, with a call for platforms that facilitate connections between new technology companies and automotive manufacturers [15][16][17] - Trend 8: The future direction of the supply chain is guided by the "new four modernizations" of high-end, intelligent, green, and integrated development, aiming to enhance China's competitive position in the global automotive landscape [18]

Core Viewpoint - Zhongwei Co., Ltd. is progressing with its H-share issuance and listing in Hong Kong, having submitted an updated application to the Hong Kong Stock Exchange on October 23, 2025, following a successful hearing on October 2, 2025 [1][2] Group 1: Company Developments - Zhongwei Co., Ltd. is a leading domestic new energy materials science company with a diversified product matrix including nickel-based, cobalt-based, phosphorus-based, and sodium-based materials [1] - The company has achieved the number one global market share for nickel and cobalt materials for five consecutive years, with its phosphorus materials business rapidly developing into a leading position in the industry [1] - The sodium-based products have achieved mass production, and the company has successfully implemented dual technology routes [1] Group 2: Financial Performance - Since the public disclosure of performance data from 2017 to 2024, Zhongwei Co., Ltd. has maintained continuous growth in operational scale and revenue [2] - The company has experienced rapid performance release during the industry boom and has strategically positioned itself during the industry adjustment period [2] - Under the "New Four Modernizations" strategy, which focuses on technological diversification, global development, digital operations, and ecological industrialization, the company is building an integrated closed-loop industrial model from resource development to end-cycle recycling [2]

Core Viewpoint - Zhongwei Co., Ltd. is progressing with its H-share listing application on the Hong Kong Stock Exchange, indicating a strong position in the new energy materials sector and a commitment to expanding its market presence [1][2]. Group 1: H-share Listing Progress - On October 23, 2025, Zhongwei Co., Ltd. submitted an updated application for its H-share listing to the Hong Kong Stock Exchange [1]. - The listing committee held a hearing on October 2, 2025, and the company’s IPO application has successfully advanced to the latter stage [1]. - The joint sponsors received a letter from the Hong Kong Stock Exchange on October 3, 2025, confirming the review of the listing application [1]. Group 2: Company Overview and Market Position - Zhongwei Co., Ltd. is a leading company in the new energy materials sector, with a diverse product matrix including nickel-based, cobalt-based, phosphorus-based, and sodium-based materials [1]. - Nickel and cobalt materials have maintained the number one global market share for five consecutive years, while the phosphorus materials business has rapidly developed into a leading position in the industry [1]. - The company has achieved mass production of sodium-based products and successfully implemented dual technology routes [1]. Group 3: Business Strategy and Growth - Since 2017, Zhongwei Co., Ltd. has experienced continuous growth in operational scale and revenue, capitalizing on the industry's explosive growth and strategically positioning itself during industry adjustments [2]. - The company is guided by a "new four modernizations" strategy focusing on technological diversification, global development, digital operations, and ecological industry integration [2]. - Zhongwei Co., Ltd. is building an integrated closed-loop industrial model encompassing raw ore smelting, raw material refining, new energy material manufacturing, and terminal recycling [2].

Core Viewpoint - The automotive industry is undergoing a significant transformation driven by technological innovation and ecological restructuring, with AI and advanced electronic architectures playing crucial roles in this evolution [3][4][5]. Group 1: Technological Innovation - The rapid development of AI technology is expanding automotive functionalities beyond traditional applications, impacting all aspects of vehicle operation and service [3][4]. - The maturity of electronic and electrical architectures supports the concept of "software-defined vehicles," enabling companies to create standardized frameworks and reshape supply chains [3][4]. - User demand and technological innovation are driving the industry towards a comprehensive service ecosystem, with innovative business models like Robotaxi emerging [4]. Group 2: Strategic Focus Areas - The company emphasizes the importance of planning and dual-driven innovation, ensuring that all innovations are market-driven and meet user needs [4][5]. - Key focus areas for innovation include intelligent systems and low-carbon technologies, with resources concentrated on breakthroughs in these domains [5][6]. Group 3: Intelligent Systems Development - In the field of intelligent systems, the company is advancing its electronic architecture, smart cockpit, combined assisted driving, and intelligent chassis technologies [6][7]. - The company has launched its "Star Spirit Architecture" and is developing next-generation electronic architectures to enhance automation experiences [6]. - The smart cockpit system aims to improve user experience through a cloud-integrated model, achieving industry-leading AI cockpit certification [6]. Group 4: Low-Carbon Initiatives - The company is focusing on extreme energy efficiency and electrification, with over 20 self-developed engines and hybrid products achieving world-leading thermal efficiency [7]. - The company is advancing its self-developed battery technologies and aims to introduce new high-energy-density batteries by 2027 [7]. Group 5: Future Technology and Talent Strategy - The company is investing in forward-looking technologies such as flying cars and robotics, with successful prototypes already in operation [8]. - A strong emphasis is placed on talent acquisition and development, with initiatives to attract key personnel and establish expert-led innovation teams [8]. Group 6: Collaborative Innovation - The company promotes open collaboration with ICT enterprises, universities, and research institutions to build an innovative ecosystem [9]. - Since 2017, strategic partnerships have been formed to enhance the development of key technologies within the automotive industry [9]. Group 7: Achievements and Future Commitment - The company has filed over 23,000 patents and received numerous awards, maintaining a leading position in the industry [10]. - The commitment to innovation and strategic planning aims to contribute to the high-quality development of the Chinese automotive industry [10].

Core Viewpoint - The Chinese automotive market is experiencing significant growth and transformation, driven by a "price war," strategic adjustments by automakers, and a focus on intelligent driving and safety [1][2][3] Group 1: Market Performance - In the first half of 2025, China's automotive production and sales both exceeded 15 million units for the first time, reaching 15.62 million and 15.65 million respectively, with year-on-year growth of 12.5% and 11.4% [1] - The domestic automotive market has shown robust performance, with multiple indicators achieving double-digit growth, marking the most stable first half in recent years [2] - Sales are increasingly concentrated among leading and independent brands, indicating a "winner-takes-all" trend in the industry [2] Group 2: Key Players - BYD sold 2.1459 million vehicles in the first half of the year, a year-on-year increase of 33%, with pure electric vehicle sales surpassing 1.02 million, up 41%, making it the best-selling electric vehicle brand globally [2] - SAIC Motor's wholesale vehicle sales reached 2.053 million units, a 12.4% increase, with significant growth in both new energy vehicles and exports [3] - Geely and Changan also reported strong sales growth, with Geely's sales reaching 1.409 million units (up 47%) and Changan achieving 1.355 million units, the highest in nearly eight years [3] Group 3: Industry Trends - The automotive industry is rapidly evolving towards intelligent electric vehicles, with the intelligent driving market growing from 49 billion yuan in 2016 to 199.6 billion yuan in 2023, and projected to exceed 700 billion yuan by 2025 [5] - A significant trend is the collective recovery of joint venture brands, with companies like FAW Toyota showing a 16% year-on-year growth, indicating a new path for transformation post-new energy impact [5] - The automotive sector is facing a paradox of increasing production and declining profit margins, with manufacturing profits dropping from 7.8% in 2017 to 3.9% in the first quarter of 2025 [8] Group 4: Strategic Adjustments - Many automakers are undergoing intensive adjustments to enhance competitiveness in a challenging market, including mergers and acquisitions, as seen with Zeekr's acquisition of Lynk & Co [9] - The automotive industry is entering a "strong regulatory" era, with new guidelines for intelligent driving to address risks and ensure safety [6] - A commitment to a 60-day payment term to suppliers has been made by several automakers, aimed at improving supply chain efficiency and supporting smaller enterprises [7]

Group 1 - Talent is a crucial resource for the high-quality development of the automotive industry, with a focus on the need for interdisciplinary and composite talents due to rapid technological advancements [1][3] - The automotive industry is experiencing a significant restructuring of skill demand, with a shift towards intelligent operations and a reduction in traditional mechanical positions by nearly 20% [4] - There are four major challenges in skill talent supply, including technical, distribution, demand, and structural gaps, alongside a misalignment between current talent training systems and industry needs [4] Group 2 - Companies like Geely are adopting a strategic approach to talent management, viewing talent as a core strategic asset and fostering a "talent forest" ecosystem to support innovation and transformation [5] - FAW-Volkswagen has successfully engaged over 10,000 skilled talents in its digital transformation efforts, resulting in significant productivity gains and cost savings [6] - The integration of AI technology in human resource management is enhancing recruitment and training processes, contributing to the overall efficiency of talent management in the automotive sector [7] Group 3 - The dual-system education model, which involves collaboration between schools and enterprises, faces challenges in China due to a lack of market awareness in vocational institutions [8] - Hubei Dongfeng Automotive Technician College has developed a three-dimensional model to improve industry-education integration, successfully training automotive technicians and enhancing the educational framework [8]

Core Insights - The automotive recall report for the first half of 2025 reveals a significant increase in recalls, with 60 recalls affecting 5.0688 million vehicles, an increase of over one million vehicles compared to the same period last year [1][2] Group 1: Recall Statistics - In the first half of 2025, there were 60 automotive recalls, which is nearly 10 fewer than the same period last year, but the total number of recalled vehicles has increased significantly from approximately 4 million to over 5 million [2] - Tesla accounted for a substantial portion of the recalls, with 120.68 thousand vehicles recalled, representing nearly one-fourth of the total recalls [3] - Mercedes-Benz was the most frequently recalled brand, with 12 recalls totaling 144,967 vehicles in the first half of the year [3] Group 2: Market Trends - The domestic automotive market is undergoing a transformation, facing challenges such as intensified price competition and the need for improved product quality to attract consumers [2] - The recall data indicates a shift in focus from price competition to enhancing product quality, performance, and brand strength [2][4] Group 3: Import Vehicle Issues - Imported vehicles have seen a notable decline in sales, with a 16.7% drop in the first four months of the year, attributed to quality issues and increased competition from domestic manufacturers [5] - Over 50% of recalls in the first half of the year involved imported vehicles, highlighting quality concerns across various global brands [5] Group 4: Quality Improvement Initiatives - The automotive industry is urged to enhance manufacturing quality and address production issues to improve brand image and consumer trust [7] - The Ministry of Industry and Information Technology has initiated inspections to ensure compliance with production standards and address safety concerns in the automotive sector [8]

Group 1 - The core viewpoint of the article highlights the significant advancements in China's automotive industry, particularly in the fields of electrification, intelligence, connectivity, and sharing, collectively referred to as the "new four modernizations" [2][5] - Geely has launched the industry's first AI scenario engine-based intelligent power domain, named Starry AI Cloud Power 2.0, which enhances the performance, safety, and energy efficiency of its hybrid vehicles [2][4] - Geely's comprehensive AI capabilities in computing power, data, and algorithms have positioned it as a leader among Chinese automakers, with a computing power of 23.5E FLOPS and over 200 million users contributing to a vast data pool [3] Group 2 - The Starry AI Cloud Power 2.0 enables the Geely Thunder Super Hybrid to evolve into the Thunder AI Hybrid 2.0, which includes various technical routes to meet diverse user needs [4] - The Geely Galaxy M9, equipped with the Thunder EM-P AI hybrid, achieves a 0-100 km/h acceleration time of just 4.5 seconds and a fuel consumption of only 4 liters per 100 km, with a total range exceeding 1500 km [4] - The global innovation index report indicates that China has improved its innovation ranking, reflecting the strong momentum and broad prospects of innovation in the automotive sector, with Geely leading in several hybrid technology fields [5]

Core Insights - Despite an increase in automobile sales, dealers are facing significant challenges, with the industry experiencing a shift from "increasing sales without profit" to "losing money with every sale" [1] - The "2025 China Automotive Circulation Industry Dealer Group Top 100 Ranking" highlights the struggles of traditional dealers, with the top performer, Zhongsheng Group, reporting revenues of 168.12 billion yuan and total sales of 711,500 vehicles [1][5] - The implementation of the "old-for-new" policy in 2024 has helped maintain a 5.5% growth in the passenger car market, with over 3.22 million applications for subsidies by May 11, 2025 [1] Industry Overview - The automotive circulation industry is witnessing a polarization in operational capabilities among dealers, with the future favoring those who can adapt to new market conditions [2] - The average gross profit margin for new cars among struggling traditional brand dealers is negative, leading to an overall pre-tax profit margin of -6.9% [4] - In contrast, strong traditional brand dealers maintain a gross profit margin of 1.5% on new cars and achieve a net profit margin of 2.1% through effective management [4] Financial Performance - The top 100 dealers reported a total revenue of 1.7213 trillion yuan in 2024, a decrease of 2.5% year-on-year, with new car sales down by 0.2% to 6.52 million units [5] - The number of 4S stores increased by 3.5% to 6,003, while the gross profit margin for new cars fell by 22.6%, although the overall gross profit margin rose by 3.2% to 6.7% [5] - Used car sales surged by 19.7% to 1.39 million units, but the gross profit margin for used cars decreased by 3.6% to 6.4% [5] Strategic Responses - To counter declining profit margins, top dealers are reducing operational costs, with employee numbers down by 6.8% and salaries reduced by 8.2% [6] - The number of base customers for top dealers grew by 19.3% to 100.26 million, indicating a focus on customer retention and engagement [6] - The penetration rate of new energy vehicles among top dealers reached 23%, a year-on-year increase of 31.1%, with total sales of new energy vehicles rising by 30.9% to 15.02 million units [7] Future Directions - The "New Four Transformations" strategy for dealers includes diversifying business operations, asset lightening, brand differentiation, and management digitization [7] - Successful examples, such as Chongqing Baishida, demonstrate the effectiveness of value-driven customer engagement and digital tools in enhancing profitability [8] - Digital transformation is seen as a means to not only control costs but also to unlock greater profit potential, as evidenced by various case studies [8]