证券日报网讯奇德新材（300995）11月24日发布公告，在公司回答调研者提问时表示，公司碳纤维制品 聚焦新能源汽车行业的轻量化及高端化的产业应用，通过持续的研发投入及工艺提升，为主机厂提供从 结构设计，原材料开发及选定，工艺方案，模具开发，多工艺成型量产交付等车规级碳纤维制品一站式 服务。具体产品包括前舱盖，行李箱盖，自动尾翼，侧裙，前后保等各内外饰及功能件。凭借公司在复 合材料成型领域的技术协同，公司与客户协同开发，在碳纤维色漆技术，高品质外观工艺技术等方面形 成独特优势。公司依托在高分子材料改性、热塑性材料成型，汽车精密模具领域的技术积淀及工艺优 势，对碳纤维行业面临的高成本与生产效率低下的行业痛点进行持续的技术升级及研发投入，未来，公 司将继续在快速固化、快速热冷模具技术、热塑性碳纤维制品以及多工艺一体化成型等方面进行持续创 新，同时在市场拓展应用方面，积极参与低空飞行、人形机器人等新兴行业的碳纤维应用研究和技术储 备，目标成为行业领先的高端碳纤维成型一体化服务提供商。 ...

来源：新浪证券-红岸工作室 11月24日，上海汽配涨0.13%，成交额3546.10万元，换手率1.08%，总市值51.01亿元。 异动分析 (免责声明：分析内容来源于互联网，不构成投资建议，请投资者根据不同行情独立判断) 资金分析 今日主力净流入-200.74万，占比0.06%，行业排名159/257，连续3日被主力资金减仓；所属行业主力净 流入-3.12亿，连续3日被主力资金减仓。 区间今日近3日近5日近10日近20日主力净流入-200.74万-869.54万-1354.00万-2165.75万-3532.20万 中俄贸易概念+国企改革+一带一路+新能源汽车+汽车热管理 主力持仓 1、公司上市保荐书：目前公司的燃油分配管主要客户为全球知名的发动机制造商，包括联合电子、博 格华纳（BorgWarner）、 IHO Group（大陆集团和纬湃科技） 、俄罗斯埃塔曼集团（NPP ITELMA LLC）等。上述客户与公司保持着长期稳定的合作关系，对方在供应商筛选方面具有严格的供应商认证 体系，供应商需通过严格的认证测试方可合作，一旦获得认可，会被列入其合格供应商目录。 2、公司属于国有企业。公司的最终控制人为上海 ...

Core Viewpoint - Huaxin has given a "Buy" rating to Hengbo Co., Ltd., highlighting its deep engagement in the automotive and motorcycle intake system sector and its expansion into the new energy business, which opens up growth opportunities [1][2]. Company Overview - Hengbo Co., Ltd. focuses on automotive and motorcycle intake systems and accessories, with over 90% of its revenue projected to come from this core business by the first half of 2025 [1][2]. - The company has established four major industrial bases in Taizhou, Zhejiang; Jiangmen, Guangdong; Tongliang, Chongqing; and Changzhou, Jiangsu, enabling large-scale manufacturing and rapid response capabilities [1][2]. Market Position and Growth Potential - Hengbo Co., Ltd. is expected to further increase its market share in the automotive and motorcycle intake and exhaust system sector [1][2]. - The company is actively entering the new energy vehicle component market, focusing on high-performance modified materials to tap into the lightweight sector, which is anticipated to lead to steady growth in performance [1][2].

（本文原标题为 中金公司研究部汽车行业首席分析师邓学："十五五"期间，中国汽车产业国际化合作新趋势将更加凸显） 在由中国汽车报社主办的第二十届中国经济论坛平行论坛——"展望'十五五' 巩固车优势"现场，中金公司研究部汽车行业首席分析师邓学，以"汽车 产业国际化合作新趋势"为主题发表了主题演讲。他判断，"十五五"期间，中国汽车产业国际化合作的新趋势将更加凸显。 "未来，国内新能源汽车市场需求将趋于成熟，头部品牌逐步确立；海外市场方面，全球区域市场的新能源汽车渗透率仍有提升空间，在全球车企电 动化转型中，中国汽车产业链的全球化机遇和投资机会值得关注。随着以新能源、智能化为主导的海外合作进一步深化，未来跨国车企与中国车企将更加 频繁地聚焦于电动化平台和电动化技术的共享，中国创新也将成为助力全球汽车产业转型的重要力量。"他说。 中国汽车产业全球竞争力将稳中有升 "在汽车产业国际化大变革的趋势中，未来中国汽车产业将走向更广阔的舞台，在全球汽车产业中占据更重要的地位。"邓学说，"过去5年来，电动汽 车行业的发展，远远超出了政府规划的目标和指标，无论从新能源汽车的市场渗透率，还是出口的体量，以及相关核心技术创新取得的领先地 ...

Group 1: Core Models and Pricing - The 2025 Guangzhou Auto Show features significant model launches, including the Xiaopeng X9 Super Range starting at 309,800 yuan [1] - The Lantu Dreamer Mountain River is positioned as a flagship four-seat MPV with a price of 709,900 yuan [5] - The BYD Tang L is priced between 214,800 yuan and 270,800 yuan for DM and 224,800 yuan to 274,800 yuan for EV [7] - The BYD Han L ranges from 204,800 yuan to 264,800 yuan for EV and 194,800 yuan to 244,800 yuan for DM [10] - The Xiangjie S9 starts at 309,800 yuan [13] - The Hummer M817 Hero version is priced at 301,900 yuan [16] Group 2: Technical Specifications and Features - The Xiaopeng X9 Super Range features a combined CLTC range of 1,602 km and a pure electric range of 452 km, with a fast-charging capability of 313 km in just 10 minutes [3] - The Lantu Dreamer Mountain River integrates advanced safety features, including a 2000 MPa aluminum-silicon coated door beam and a high-strength cage body design [5][6] - The BYD Tang L EV boasts a peak charging power of 1,000 kW, allowing for a 370 km range in just 5 minutes, with a single motor power of 580 kW [9] - The BYD Han L EV also features a peak charging power of 1,000 kW, achieving a 400 km range in 5 minutes, with a single motor power of 580 kW [12] - The Xiangjie S9 includes a new intelligent cockpit with multiple screens and advanced driving assistance systems [15] Group 3: Design and Comfort Features - The Xiaopeng X9 Super Range offers a spacious interior with three rows of electric folding seats and high-quality materials [3] - The Lantu Dreamer Mountain River emphasizes privacy and comfort with features like a full-coverage privacy curtain and a zero-gravity seat design [6] - The BYD Tang L introduces new color options and a high-end intelligent cockpit for enhanced user experience [9] - The BYD Han L incorporates modern aesthetics with new color options and a sporty interior design [12] - The Hummer M817 Hero features a lightweight aluminum structure and advanced off-road capabilities, catering to off-road enthusiasts [18]

Core Insights - The 2025 Guangzhou International Auto Show showcases 1,085 vehicles, including 93 global debuts, with 629 new energy vehicles, accounting for nearly 58% of the total [1] - Industry leaders emphasize the need for transformation and innovation to meet diverse consumer demands and enhance product offerings [4][5][8] Group 1: Industry Transformation - GAC Group's chairman highlights the success of their "Panyu Action" transformation, achieving a 50% improvement in business efficiency and a sixfold increase in market response speed [1] - Mercedes-Benz promotes a strategy of integrating traditional fuel and electric vehicles, enhancing the competitiveness of their fuel models through intelligent upgrades [2] - German luxury car brands face challenges in the Chinese market, needing to break through the competition from high-end domestic brands and gain a voice in the new energy vehicle sector [3] Group 2: Product Focus - Ford emphasizes the importance of understanding consumer needs to strengthen its market position in China, focusing on brand, product, and experience [4] - Lantu Motors introduces new models, advocating for a diverse product range to meet varied consumer demands in the growing new energy vehicle market [4] Group 3: Technology Insights - NIO's chairman notes a 20% increase in pure electric vehicle sales in October, while range-extended models saw a 20% decline, indicating a shift in consumer preferences towards pure electric technology [5] - Xiaopeng Motors' CEO believes that hybrid and range-extended technologies will coexist with pure electric vehicles for a long time, especially for users with range anxiety [6] - Leap Motor's executive highlights the ongoing relevance of hybrid and range-extended vehicles, predicting significant market opportunities in the next 3-5 years [6] Group 4: Competitive Landscape - NIO's chairman states that the competition in smart electric vehicles has entered a decisive phase, with a stable market potentially taking a decade to establish [7] - Xiaopeng's CEO anticipates a more brutal competitive environment in the automotive market by 2026, reflecting on the rapid changes in the industry [7] - Lantu's chairman calls for a collaborative approach among companies to enhance the overall market for new energy vehicles rather than focusing solely on internal competition [7] - Avita Technology's chairman emphasizes the need for strategic foresight in planning for the future of the Chinese new energy vehicle market, which is entering a critical reshaping phase [7] Group 5: Broader Industry Trends - The auto show reflects a shift from "scale expansion" to "high-quality development" in the automotive industry, indicating a maturation of the sector [8]

【导读】华锋股份拟筹划控制权变更事项 中国基金报记者 卢鸰 11 月 24 日早间，深交所公告，广东华锋新能源科技股份有限公司拟筹划控制权变更事项， 根据本所《股票上市规则》和《上市公司自律监管指引第 6 号 —— 停复牌》的有关规定， 经公司申请，公司股票（证券简称：华锋股份，证券代码： 002806 ）于 2025 年 11 月 24 日开市起临时停牌。 华锋股份的董事长、控股股东、实际控制人谭帼英是一位女性高级工程师，现年 75 岁。曾任 华南理工大学校团委副书记、数学系党总支副书记，广东华侨信托投资公司副总经理、投资 部总经理等。 华锋股份目前的主要业务为新能源汽车电控及驱动系统的研发、生产、销售以及技术服务， 以及电极箔的研发、生产、销售。 制作：舰长 审核：陈思扬 注：本文封面图由AI生成 9 月 10 日，华锋股份董事周辉以自有资金通过深圳证券交易所集中竞价交易方式增持公司股 份 1000 股。 10 月 29 日，林程以 13.85 元 / 股的交易均价减持华锋股份 56.6 万股。 此次停牌前，华锋股份股价为 13.22 元 / 股，总市值为 28.09 亿元。 编辑：格林 校对：乔伊 20 ...

Core Insights - The launch of the Lantu Taishan SUV has generated significant discussion, positioning it as a "true flagship" in the new energy vehicle market, with a focus on cultural resonance and user experience [1][3][4] Product and Brand Strategy - Lantu's core competitive advantages are defined by four "hardcore" standards: the strongest intelligent driving assistance, the best battery technology, the best chassis, and the highest safety standards [3] - The design of the Taishan incorporates elements of Chinese culture, aiming to resonate with users through aesthetics that reflect traditional Chinese values [3][4] - The company emphasizes a user-driven approach in product development, with features designed to enhance user experience, such as AI cloud comfort seats and high-quality audio systems [4] User Engagement and Cultural Integration - Lantu has achieved 300,000 users by integrating Chinese culture into its products, using Chinese names and design inspirations from traditional culture [4][6] - The company aims to create a "mobile third space" for users, recognizing the importance of the vehicle as a place for relaxation and personal time [4] Global Market Strategy - Lantu acknowledges the challenges and opportunities in expanding into global markets, emphasizing the need for proper service and channel development [6] - The company is committed to maintaining brand integrity and not engaging in price wars in international markets, focusing instead on product quality and brand reputation [6] Industry Outlook - The company anticipates that the post-subsidy era will shift the focus to efficiency competition, with a commitment to improving product cost-effectiveness without resorting to price cuts [6][7] - Lantu predicts that 2026 will mark a critical juncture in the automotive industry, with a showdown between traditional fuel vehicles and new energy vehicles [7] Product Line Development - The launch of the Taishan and the upcoming release of the Zhaiguang L will complete Lantu's "three flagship" product matrix, aimed at leading the brand upward in the market [9] - The company prioritizes long-term sustainable development over short-term capital market performance, reflecting its commitment to high-quality growth [9]

有色金属日报 2025-11-24 五矿期货早报 | 有色金属 曾宇轲 从业资格号：F03121027 交易咨询号：Z0023147 0755-23375139 zengyuke@wkqh.cn 张世骄 从业资格号：F03120988 交易咨询号：Z0023261 0755-23375122 zhangsj3@wkqh.cn 铜 有色金属小组 【行情资讯】 吴坤金 从业资格号：F3036210 交易咨询号：Z0015924 0755-23375135 wukj1@wkqh.cn 王梓铧 从业资格号：F03130785 0755-23375132 wangzh7@wkqh.cn 刘显杰 从业资格号：F03130746 0755-23375125 liuxianjie@wkqh.cn 陈逸 从业资格号：F03137504 0755-23375125 cheny40@wkqh.cn 美联储 12 月降息概率提高，铜价下探回升，周五伦铜 3M 合约收涨 0.86%至 10778 美元/吨，沪铜主 力合约收至 86180 元/吨。LME 铜库存减少 2900 至 155025 吨，注销仓单比例下滑，Cash/3M 由贴 ...

交易咨询业务资格：证监许可【2012】1091号 沪镍&不锈钢早报—2025年11月24日 大越期货投资咨询部 祝森林 从业资：F3023048 投资咨询证：Z0013626 联系方式：0575-85226759 重要提示：本报告非期货交易咨询业务项下服务，其中的观点和信息仅作参考之用，不构成对任何人的投资建议。 我司不会因为关注、收到或阅读本报告内容而视相关人员为客户；市场有风险，投资需谨慎。 沪镍 每日观点 1、基本面：上周镍价大幅回落，跌破年内低点，下游采购积极性尚可，近期部分产能减产，格林美等 货源偏紧。产业链上，镍矿价格坚挺，海运费小幅上升，印尼2026年RKAB配额预计3.19亿吨，预期供应 宽松。镍铁价格继续回落，跌破900大关支撑，成本线重心再降。不锈钢库存小幅回升，300系小幅回落， 需求表现仍不佳。精炼镍库存持续高位，过剩格局不变。新能源汽车产销数据良好，但总体镍需求提振 有限。偏空 2、基差：现货116700，基差2650，偏多 3、库存：LME库存253950，-222，上交所仓单33785，-294，偏空 4、盘面：收盘价收于20均线以下，20均线向下，偏空 5、主力持仓：主力持仓净 ...