业内人士指出，缺芯只是导火索，广汽本田真正的病灶是需求塌方和电动化滞后。未来，企业要利用中 国供应链把成本打穿，再借助本田的品牌价值拉回溢价，这也成为合资品牌最后的窗口期。 12月21日，广汽本田证实由于芯片短缺将于12月末暂停生产两日。本田公司也由于产量不及预期，下调 了2026财年的汽车销售目标。现阶段，广汽本田的发展陷入低谷期：明星车型飞度11月交出了零销量的 成绩单，今年唯一一款纯电车型P7也正在降价清库存。 工厂停工，产量不及预期 针对近期本田工厂停产的消息，广汽本田向北京商报记者表示，广汽本田受半导体供应影响，12月30日 —31日两天不安排生产，但不会影响对顾客的交付。此外，东风本田的生产活动暂未受到影响。本田公 司也对外表示，由于半导体短缺，计划从12月下旬到明年1月上旬，日本和中国工厂的整车生产将暂停 或减产。 本田最新财报预期显示，受芯片短缺导致产量不及预期的影响，2026财年营业利润将缩水1500亿日元， 全球汽车销售目标也从362万辆下调至334万辆，预期同比下滑10.1%。 产能收缩的背后，是终端市场的持续遇冷。官方销量数据显示，2025年前11个月，广汽本田累计销量为 30.09万 ...

12月19日，以"美美与共，和而不同"为主题的"2025中国汽车行业全球化及可持续发展论 坛"在北京举办，来自行业协会、汽车及零部件龙头企业、国际机构、投资机构与媒体机构的近两 百位嘉宾齐聚一堂，围绕全球汽车产业格局演变、中国汽车行业技术演进和生态开放、企业ESG 价值创造等话题开展深入研讨。 中国汽车迎来历史性跃升 中国汽车工程学会名誉理事长、华汽基金会理事长付于武表示，汽车产业作为实体经济压舱石和新 质生产力重要载体，必须以国家高质量发展战略为引领，重视ESG实践，推动技术创新、绿色转型与全 球化布局。2025年，200多款新车上市、4项特等奖科技奖、民营车企科学家当选院士、3家企业进入全 球产量TOP10……中国汽车迎来历史性跃升，中国企业全球ESG评级的提升与40多家企业案例的展示体 现了行业显著的进步，但仍面临内卷、质量安全等挑战，呼吁企业规范竞争、维护行业生态。他倡议， 汽车企业以可持续发展理念为引领，积极回应利益相关方期待，规范竞争行为，共同维护良好的行业秩 序，推动企业自身和社会经济实现可持续发展。 中国汽车工程学会副秘书长吴锋也表示，电动化、智能化、网联化正在重塑全球汽车产业格局，中 国车企 ...

Core Viewpoint - The automotive industry is experiencing rapid advancements in both electrification and intelligence, with the pace of smart technology development outstripping that of electrification, indicating a transformative shift in vehicle capabilities and user experience [4][10][14]. Group 1: Electrification and Intelligence Progress - Electrification has progressed from 1% to 30% over ten years, while the advancement of L2+ smart technology has achieved the same percentage in just five years, highlighting that the smart technology development speed is twice that of electrification [10][14]. - The future of vehicles will rely heavily on image technology, which is expected to account for 80% of vehicle information transmission, serving as a crucial foundation for the rapid development of smart technology [10][11]. Group 2: Smart Driving and Cabin Technology - By 2025, high-speed Navigation on Autopilot (NOA) will be standard in all new vehicles, with urban NOA expected to achieve parity by 2026, and Level 3 (L3) automation anticipated to be mainstream by 2027 [14][16]. - The development of smart cabins has progressed through various stages, with the current phase being the integration of 5G and large models, leading to a significant enhancement in user experience and personalized services [13][16]. Group 3: Future Automotive Trends - The future of vehicles is envisioned as intelligent companions that can autonomously execute commands, connect with the internet, and provide emotional value to users, transforming the automotive experience [17][18]. - The architecture of future vehicles will evolve towards modular designs and advanced electronic frameworks, enabling greater flexibility and integration of smart technologies [20][21]. Group 4: Industry Innovations and Company Initiatives - Dongfeng Warriors Technology has pioneered the integration of electrification in off-road vehicles, launching innovative models that combine advanced power systems and smart technologies [21]. - The company aims to continue advancing in emotional intelligence and cross-domain integration, striving to enhance user experiences and establish vehicles as emotional partners [21].

证券日报网讯12月19日，上汽集团（600104）在互动平台回答投资者提问时表示，公司在电动化和智能 化领域累计投入超过1500亿元，形成了近26000项有效专利，涵盖纯电、混动、氢能三大整车平台及电 池、电驱、超混系统和智能车全栈解决方案的"七大技术底座"，率先实现第一代固态电池、"银河"全栈 智能车解决方案、整车中央协调运动控制平台(VMC)等行业领先技术的量产装车，并深入推进"算法+软 件+芯片"的协同开发，以及AI大模型等新技术的上车应用。明年国产新品敬请关注各家车企的新车发 布信息。 ...

Market Overview - The US CPI unexpectedly cooled, strengthening rate cut trades, and combined with Micron's earnings report, the S&P 500 rose nearly 0.8%, ending a four-day decline [2] - Major tech stocks led the gains, with Tesla up 3.45% and Micron soaring approximately 12% [2] - The US dollar initially fell but ended slightly higher, while the Chinese yuan strengthened again, approaching 7.03 after the CPI report [3] Economic Indicators - The US initial jobless claims fell to 224,000, reversing the previous surge trend [8] - The November core CPI rose 2.6% year-on-year, marking the lowest since 2021, although economists expressed concerns about potential data distortions due to government shutdowns [7][23] Central Bank Actions - The European Central Bank (ECB) maintained its interest rates for the fourth consecutive time, reiterating that inflation will return to the 2% target in the medium term, with no clear easing guidance [9] - The Bank of England adopted a hawkish stance, cutting rates by 25 basis points with a close 5-4 vote, indicating that further easing will be more challenging [10][25] Corporate Developments - Micron's CEO stated that the company has sold out its HBM capacity for 2026 and is signing unprecedented long-term contracts, indicating a structural shortage in the industry [34] - OpenAI released GPT-5.2-Codex, claiming significant improvements in software engineering and cybersecurity capabilities, and is exploring new financing options up to $100 billion [26] - Trump's media group surged over 40% after announcing plans to acquire a fusion energy company, TAE Technologies, with a valuation exceeding $6 billion [27] Industry Trends - The virtual digital human sector in China has established its first national standard, which is expected to drive significant growth in the market, projected to reach 480.6 billion yuan by 2025 [37] - The Ministry of Industry and Information Technology announced plans to strengthen capacity regulation in the photovoltaic industry, aiming for a dynamic balance of production capacity by 2026 [30] - The AI healthcare sector in China is expected to grow from 97.3 billion yuan in 2023 to 159.8 billion yuan by 2028, with significant growth in AI medical imaging and AI pharmaceuticals [41]

12月18日，2025年度武汉投资促进大会上，安波福电气分配系统事业部副总裁兼中国区 董事长祁松透露，位于武汉经开区新建的电气分配系统制造工厂和研发中心项目正加快建 设，预计2026年下半年投产。据悉，这是安波福在武汉的第四次追加投资。 安波福是全球领先的汽车技术公司，专注于汽车智能化、电动化、网联化等前沿领域的 创新突破。2007年，安波福在武汉经开区设立首个电气系统生产基地，为神龙汽车、东风日 产、东风乘用车、上海通用等车企提供线束产品。此后，安波福陆续在武汉经开区建设连接 器系统武汉工程中心、连接器系统高压产品武汉工厂。 祁松在发言中高度评价了武汉的营商环境，特别提及公司注册过程中政府展现的高效、 专业与务实作风，认为这极大缩短了企业筹备周期。祁松表示，选择持续加码武汉，是基于 对武汉战略区位、雄厚汽车产业根基、丰富人才储备及优质营商环境的充分信心。 展望未来，祁松表示，安波福将坚定不移地看好中国汽车市场的广阔前景，将持续加大 在华投入，深化本土研发和新产品布局，为中国车企提供更优质的服务与支持，助力中国汽 车产业高质量发展。 编辑：张靖 祁松表示，在以中国为主导的汽车电动化、智能化浪潮中，安波福武汉基 ...

A e the state of the state of the station of the station of the state of the station of the station of the station of 10 汽车芯片与软件工程、车联网通信、低空智联网……近日，教育部发布《关于做好2026年职业教育拟招生专业设置管理工作的通知》及附件 《2025年职业教育专业目录增补清单》。清单显示，此次新增57个职业教育专业。其中，中职专业3个、高职专科专业31个、职业本科专业23个。其 中有多个与汽车智能化、电动化以及汽车工业智能制造相关的专业，也覆盖了汽车业正在发力的低空经济、具身智能等前沿领域。 人才培养"千年大计" 有关行业人士认为，这不仅为职业教育注入新活力，更为汽车业的人才培养与产业升级带来深远影响。 新增本科专业中，汽车芯片与软件工程技术是其中之一。行业专家认为，汽车行业正经历电动化、智能化的深刻变革，芯片与软件成为核心竞争力之 一。然而，近年来全球不断出现的芯片供应链风险，暴露了汽车业在关键技术领域的韧性不足的问题。此次增设的汽车芯片与软件工程技术专业，旨在培养 既懂芯片设计 ...

Core Viewpoint - The discussion highlights the growth journey of the AITO brand, emphasizing high standards in safety, reliability, performance, quality, and value as key pillars of the brand's philosophy [1] Group 1: Company Achievements - AITO has achieved cumulative deliveries exceeding 900,000 units, with over 50,000 units delivered in November alone, setting a new monthly delivery record [2] - The average transaction price for the entire AITO lineup is 400,000 yuan, with the AITO M9 model alone surpassing 260,000 cumulative deliveries and being recognized as the sales champion in the 500,000-unit category for 20 consecutive months [2] - AITO is the first and only domestic brand to exceed traditional luxury brands in both monthly sales and average transaction price [2] Group 2: Customer Engagement and Innovation - AITO has introduced a unique delivery model called "user approval before vehicle delivery," allowing customers to participate in the testing and acceptance of new vehicles [2] - The company emphasizes a customer-centric approach, gathering user feedback to enhance research and development, ensuring that vehicles meet customer expectations [2] - The founder has actively engaged with users across multiple cities to listen to their suggestions, reinforcing the brand's commitment to customer satisfaction and trust [2] Group 3: Industry Context - By 2025, it is projected that the sales share of new energy vehicles in China will exceed 50%, marking a significant turning point in the automotive industry [1] - The transformation towards digitalization, electrification, and green initiatives is reshaping the automotive landscape, with AITO positioning itself as a leader in this evolution [1] - The company aims to build a globally influential high-end brand, contributing to China's goal of becoming a strong automotive nation [1]

文｜IT时报 毛宇 编辑｜郝俊慧 孙妍 岁末，车市正上演一场政策与市场交织的悬疑大戏：2026年新能源购置税从全免缩至减半，20万元级车 辆成本或增近万元。政策"倒计时"的警报已然拉响。 中央经济工作会议明确延续的"以旧换新"政策，却因细则未明蒙上迷雾，上海等地补贴需摇号申领，中 签率低迷让这份红利打了折扣。 近日，《IT时报》记者走访上海多家新能源门店发现，政策跷跷板下，车企阵营迅速分化：理想、蔚 来、极氪、小米等超20家品牌紧急推出购置税兜底政策，最高补贴达1.5万元，但其中暗藏"贷款需20日 前办结"等附加条件；特斯拉则借着长期销量领跑的底气，拒绝兜底反成异类。 更添变数的是技术与地方政策的博弈：广汽等企业宣布全固态电池中试突破，却仍难解量产瓶颈，让消 费者陷入"赶末班车"与"等技术"的纠结中；上海绿牌虽暂未官宣取消，却已浮现收紧预期，"现在需要 居住证，并且3年以上社保，才有绿牌资格。"一位新能源销售告诉记者。 热闹背后是数据的"降温"。12月前7天新能源零售同比下滑17%，这场车企、消费者、政策的三方角 力，正将年底车市推向悬念顶点。 购置税、国补暗藏玄机 根据财政部等3部门2023年公布的《关于延 ...

Core Viewpoint - The company is initiating coverage on Aerospace Intelligent Manufacturing with a "Buy" rating and a target price of 26.00 yuan, based on a 20x PE valuation for 2026, driven by "technological barriers + policy dividends" for growth [1] Group 1: Company Overview - Aerospace Intelligent Manufacturing has undergone a significant asset restructuring, becoming the core listed platform of the Aerospace Seventh Academy by acquiring 100% stakes in Aerospace Energy and Aerospace Molding [1] - The company is expected to achieve revenues of 58.60 billion yuan and 77.81 billion yuan in 2023 and 2024, respectively, representing year-on-year growth of 20.10% and 32.78% [1] - The net profit attributable to shareholders is projected to be 4.23 billion yuan and 7.92 billion yuan for 2023 and 2024, with year-on-year increases of 61.36% and 87.02% [1] Group 2: Automotive Components Business - Aerospace Molding, established in 2000, focuses on the development and production of automotive interior and exterior parts, smart cockpit components, and lightweight engine parts [2] - The company provided components for 10.95 million vehicles in 2023, accounting for 42% of the total passenger car sales in China [2] - The new energy vehicle segment is expected to contribute 72% of new products in 2024, surpassing industry penetration rates, with successful entries into the supply chains of new car manufacturers like NIO and AITO [2] - Revenue for the automotive components business is projected to grow at a CAGR of 20.96% from 2025 to 2027 [2] Group 3: Oil and Gas Equipment Business - Aerospace Energy, founded in 2013, specializes in the research and manufacturing of perforating tools and high-end completion equipment for the oil and gas sector [3] - The company holds over 60% market share in unconventional oil and gas extraction and approximately 35% in conventional oil and gas extraction as of 2021 [3] - The business is expected to benefit from increasing domestic oil and gas production and the development of deep-sea and deep-earth resources, with a projected revenue CAGR of 17.94% from 2025 to 2027 [3] Group 4: Market Perspective - The market underestimates the company's long-term growth potential, particularly in the automotive components sector, which benefits from the electrification, connectivity, and intelligence transformation of downstream customers [4] - The oil and gas equipment business is expected to gain from policy support for deep-sea and deep-earth technologies, leading to increased demand for perforating tools and completion equipment [4] Group 5: Profit Forecast and Valuation - The company is expected to achieve net profits of 9.48 billion yuan, 11.02 billion yuan, and 12.76 billion yuan from 2025 to 2027 [5] - Comparable companies in the automotive and oil and gas sectors have an average PE of 30x for 2026, while Aerospace Intelligent Manufacturing is assigned a target PE of 20x, leading to a target price of 26.00 yuan [5]