Core Viewpoint - Buick's first mass-produced model under the new premium electric vehicle brand, Zhijing L7, was unveiled, showcasing the brand's strong commitment and advanced positioning in the electric vehicle market [1] Group 1: Product Launch and Features - The Zhijing L7 is positioned as a flagship luxury electric sedan, integrating Buick's century-long heritage and significant investment in resources [1] - The vehicle features the "Zhenlong" range extender system, which offers a power output equivalent to a 3.0T V6 engine, achieving 0-100 km/h acceleration in just 5.9 seconds and a combined fuel consumption as low as 0.5L per 100 km [2] - The Zhijing L7 boasts the longest pure electric range in its class at 302 km and a total range of 1420 km, addressing common consumer concerns about range anxiety [2] Group 2: Intelligent Driving and Safety - The vehicle is equipped with the "Xiaoyao Zhixing" advanced driver-assistance system, featuring the Momenta R6 flying wheel model, which provides comprehensive driving assistance capabilities [3] - Buick's driver-assistance system has accumulated over 1 billion kilometers of safe driving, indicating a strong track record in safety [3] Group 3: Smart Cabin and User Experience - The Zhijing L7 incorporates Qualcomm's latest SA8775P chip, delivering high computational power for an immersive and interactive user experience [4] - The vehicle features a 50-inch panoramic AR-HUD display and a 15.6-inch smart central control screen, allowing for customizable user interfaces and enhanced safety monitoring [4] - The interior design emphasizes luxury with high-quality materials and advanced seating configurations, including zero-gravity seats for enhanced comfort [5]

21世纪经济报道记者 焦文娟 杭州报道 继SUV和轿车之后，鸿蒙智行终于将触角伸向了中国市场较冷门的品类——旅行车。 9月16日，鸿蒙智行与北汽合作的第二款车型享界S9T正式亮相。新车共推出4款车型，售价区间30.98万 ~36.98万元。根据鸿蒙智行披露的数据，享界S9T上市1小时大定突破5000辆。 为了保证交付，北汽透露，目前享界工厂已达到每两分钟下线一台新车的生产节奏。 而对鸿蒙智行来说，享界S9T不仅补全了鸿蒙智行全品类布局的一块空白，更试图重新激活一个在中国 市场尚未真正爆发过的细分市场。 选择旅行车作为突破口的逻辑看似矛盾却充满机会：一方面，中国旅行车市场规模是真正的小众市场， 目前畅销的车型仅有蔚来ET5T；另一方面，正是这种未被充分竞争的市场，给了科技赋能最大的改造 空间。 小众市场机遇与风险并存。对鸿蒙智行来说，市场教育始终是最大变量。此前大众、沃尔沃等品牌多次 尝试培育中国旅行车市场，均折戟沉沙。 华为的破局点则可能在于其独有的用户生态。高粘性的用户基础，为推广非主流车型提供了试错空间。 享界S9T是"五界"首款旅行车，聚焦智能出行场景，更强化续航与智能化体验。 余承东在现场介绍，享界S ...

（於中華人民共和國註冊成立的股份有限公司） 全球發售 股份代號 :9973 聯席保薦人、保薦人兼整體協調人、整體協調人、 聯席全球協調人、聯席賬簿管理人及聯席牽頭經辦人 整體協調人、聯席全球協調人、聯席賬簿管理人及聯席牽頭經辦人 聯席賬簿管理人及聯席牽頭經辦人 重要提示 重要提示：如 閣下對本招股章程的任何內容有任何疑問， 閣下應尋求獨立專業意見。 Chery Automobile Co., Ltd. 香港交易及結算所有限公司、香港聯合交易所有限公司以及香港中央結算有限公司對本招股章程的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本招股章程全部或任何部分內容而產生或因依賴該等內容而引致的任何損失 承擔任何責任。 本招股章程副本連同本招股章程附錄七「送呈公司註冊處處長及展示文件」一節所指定文件，已根據香港法例第32章公司（清盤 及雜項條文）條例第342C條的規定送呈香港公司註冊處處長登記。香港證券及期貨事務監察委員會及香港公司註冊處處長對本 招股章程或上述任何其他文件的內容概不負責。 預期發售價將由整體協調人（代表包銷商）與我們於定價日通過協議釐定。定價日預期為2025年9月23日（星 ...

Core Viewpoint - The 2025 International Motor Show and Smart Mobility Expo in Munich showcases the latest trends in green and intelligent mobility, emphasizing cross-border cooperation among approximately 750 companies from over 30 countries and regions [1] Group 1 - The theme of the exhibition is "'Moving' Everything," highlighting the focus on modern mobility solutions [1] - Approximately 750 companies are participating in the event, indicating strong global interest and engagement in the automotive and mobility sectors [1] - The exhibition features a diverse range of participants, from vehicle manufacturers to component suppliers, reflecting the comprehensive nature of the industry [1]

Group 1 - The company, formerly known as Lifan Technology, was established in 1992 and became the first private passenger car enterprise listed on the Shanghai Stock Exchange in 2010 [1] - In February 2025, the company officially changed its name to "Qianli Technology," marking a new phase of development focused on intelligence and internationalization [1] - The core strategy of the company is centered around "AI + Vehicle," aiming to innovate its industrial development model and create a global smart mobility technology brand [1] Group 2 - The company's core business is divided into two main segments: terminal business and technology business, covering motorcycles and automobiles [1] - The terminal business includes motorcycle brands "Lifan" and "Paifang," as well as the new energy vehicle brand "Ruilan," forming a diversified product matrix [1] - The technology business focuses on developing industry-leading smart driving and smart cockpit solutions, establishing an AI intelligent travel open platform [1] Group 3 - The company is actively discussing the issuance and listing process with relevant intermediaries, considering shareholder interests and market conditions [1] - The company plans to complete the issuance and listing at an appropriate time within the validity period of the shareholders' meeting resolution [1]

Core Viewpoint - The new generation of IM LS6, a "super five-seat intelligent SUV," has been launched, featuring cutting-edge technology and competitive pricing, positioning itself as a benchmark in the 200,000 RMB market segment [1][12]. Group 1: Technology and Performance - The IM LS6 introduces the "Star Super Range Extender," addressing common concerns such as range anxiety and charging difficulties, with a pure electric range of 450 km and a fuel consumption of 0.06L per 100 km [3][12]. - The vehicle is equipped with the upgraded "Lingxi Digital Chassis," offering performance comparable to luxury models, including features like "Lingxi Tire Blowout Stability Control" and "Active Anti-Rollover 2.0" [5][6]. - It boasts a unique dual-direction 18° four-wheel steering system, achieving a minimum turning radius of just 4.49 meters, enhancing maneuverability [6]. Group 2: Comfort and Safety - The IM LS6 emphasizes family comfort with a spacious interior, high space utilization, and features like a dual-door refrigerator and immersive entertainment screens [8][12]. - Safety is prioritized with a robust structural design and advanced safety features, including a comprehensive AEB system and redundant safety measures [8][12]. Group 3: Pricing and Market Position - The IM LS6 is priced between 197,900 RMB and 269,900 RMB, with the Pro version breaking the 200,000 RMB barrier, making advanced technology accessible to a broader audience [12][14]. - The Max version includes high-end features at competitive prices, positioning it as a "price-performance king" in the market [12]. Group 4: User Benefits and Launch Incentives - First-time owners will receive lifetime battery warranty and five years of free access to the IM AD full functionality package, enhancing customer confidence [14]. - The vehicle is now available for pre-order, with immediate delivery options, promoting a seamless purchasing experience [14].

Group 1: Corporate Strategy and Leadership - Changan Automobile appointed Zhang Xiaoyu as Vice President in charge of strategy, indicating a potential upgrade in strategic focus as a new central enterprise [1] - The company aims to strengthen its core manufacturing capabilities while leveraging its ecological platform to expand service profitability through a "hard-soft combination" model [2] Group 2: Future Industry Planning - Changan plans to develop new technologies in humanoid robots and flying cars, with the first manned flying car expected to be launched in 2026 and mass production by 2028 [3] - The company will explore unmanned commercial vehicles, including cleaning robots and agricultural machinery, leveraging existing capabilities [3] Group 3: Recent Product Launches - The fourth-generation Yidong was launched on September 7, and the fourth-generation CS55PLUS is expected to be released within the year [4] - The A06 and new Q05 models were showcased at the fifth Technology Ecology Conference, with the Q05 featuring a 506 km electric range and advanced technologies [5] Group 4: Intelligent Driving Brand "Tianshu Smart Driving" - Tianshu Smart Driving aims to provide "extremely safe intelligent travel solutions," focusing on risk perception and real-time risk avoidance [6] - The Tianshu cockpit integrates AI technology for enhanced user interaction and experience, including a 3D surround sound system and health monitoring features [7] Group 5: Global Market Expansion - Changan is accelerating its global "Sea of Stars" plan, with over 28 brand launch events held in Europe and the Middle East Africa in the past year [8] - The company has established a presence in over 100 countries, with a global network exceeding 14,000 outlets, and plans to build 20 overseas factories [8] - By the end of the year, Changan's overseas production capacity is expected to reach 460,000 vehicles [9] Group 6: Regional Market Strategies - In Southeast Asia, Changan aims to enter the world brand TOP 10 by 2027, with its Thailand production base already operational [9] - In Europe, the company plans to introduce six new energy models by 2027 and complete marketing and service infrastructure by 2025 [9] - In Central and South America, Changan aims to enter the Brazilian market by 2025 and achieve full product line coverage [9] - In the Middle East and Africa, the company will focus on fuel vehicles and establish channels for the Deep Blue brand by 2025 [9]

金融科技（Fintech） 发掘下一个前沿市场（Identifying the next frontier） 值得注意的是，"发掘下一个前沿市场" 是首次进入 Top 5，而 "金融科技" 从之前的第 5 名稳步提升； 短期视角下，瑞银建议投资者可减少对 "基因疗法" 和 "医疗科技" 的敞口，优先考虑上述 5 大主题。 想布局长期投资却找不到方向？瑞银最新报告给出了答案。2025 年 9 月，瑞银首席投资办公室（CIO） 发布月度报告，聚焦长期投资（LongTerm Investment）主题的估值、动量与质量指标，结合定量模型与 分析师定性判断，筛选出当前最具吸引力的入场点主题，同时提示了短期需谨慎的领域。这份报告不仅 明确了 "该投什么"，更解释了 "为什么现在投"，对普通投资者有参考价值。 一、核心结论：5 大主题成长期投资 "优等生" 瑞银通过模型分析（涵盖估值、动量、质量等定量指标，叠加 CIO 整体观点、风险与催化剂等定性因 素），最终确定5 大长期投资主题为当前最佳入场选择，分别是： 数字消费者（The digital consumer） 多元化与平等（Diversity and Equali ...

Group 1 - The core viewpoint of the article is the launch of the new mid-large SUV, the Zhiji LS6, by Zhiji Auto, which offers both pure electric and range-extended power options, showcasing its production capacity with immediate delivery after launch [1] - The Zhiji LS6 features a range-extended version equipped with the "Hengxing" super range extension system, combining a 1.5T engine and a high-power motor, achieving over 450 kilometers of pure electric range and over 1500 kilometers of comprehensive range with dedicated batteries [1] - The pure electric version offers single motor rear-wheel drive and dual motor all-wheel drive layouts, with the dual motor model delivering a total power of 500 kW and a CLTC pure electric range of 750 kilometers [1] Group 2 - The interior of the Zhiji LS6 features a new design with a 27.1-inch 5K MiniLED central display and a 15.6-inch 3K MiniLED co-driver entertainment screen, integrated with the AIOS 1.0 smart interaction system [2] - The vehicle includes practical features such as a co-driver seat with a 121° zero-gravity mode and an 11-liter onboard refrigerator, enhancing usability [2] - The Zhiji LS6 is equipped with advanced driving hardware, including a 520-line laser radar, and plans to incorporate the Nvidia Thor driving assistance chip in future versions, indicating its competitive edge in intelligent mobility [2]

Core Insights - Ninebot has achieved a cumulative shipment of over 9 million smart two-wheeled electric vehicles in the Chinese market, setting a new industry growth record [1][3] - The company has demonstrated accelerated growth, taking only 52 days to move from 8 million to 9 million units, compared to 64 days for the previous milestone [1] - This achievement marks a new phase of high-quality growth as Ninebot aims for the target of 10 million units [1][3] Company Strategy - Since entering the electric two-wheeler market in December 2019, Ninebot has adhered to a development philosophy centered on product focus, user orientation, innovation-driven, and safety as a baseline [3] - The company emphasizes long-term strategic execution, strong organizational resilience, and user trust as key factors for its rapid growth [3] Market Position - Ninebot has been the global leader in smart electric vehicle sales for three consecutive years (2022-2024) and has maintained the top position in the high-end electric vehicle market (over 4000 yuan) for two years (2023-2024) [3] - The company holds the highest market penetration rate in China's smart electric vehicle sector, with 70% of sales coming from Ninebot [3] - Ninebot has been recognized as the leading brand in user satisfaction for smart two-wheeled electric vehicles, reflecting its strong product experience and service quality [3] Sales and Service Network - Ninebot has established over 9,000 stores nationwide, creating a comprehensive sales and service network that enhances user experience [4] - The company aims to provide convenient access to "true smart" riding services across various cities and scenarios [4] Innovation and Technology - The company's growth is supported by a robust R&D system and intelligent manufacturing capabilities, with a focus on safety, intelligence, endurance, and technology [4] - Ninebot is investing in cutting-edge technologies such as NimbleOS, AI, and self-balancing technology to enhance the smart mobility experience [7] Future Goals - Ninebot aims to achieve annual sales of 7 million units and solidify its brand presence among young consumers by the end of 2027 [7] - The company plans to strengthen its channel construction, user operations, and service upgrades to better meet the needs of young consumers [8]