Core Insights - GAC Group has appointed Liu Jiaming as the CEO of the "Qijing" brand, responsible for brand strategy, product planning, market expansion, and operational management [1] - Liu Jiaming has over 25 years of experience in the automotive industry, having worked in various roles at GAC Toyota and GAC Group, including sales, product planning, investment strategy, and technology management [1] - The "Qijing" brand is a new high-end smart electric vehicle brand co-developed by GAC Group and Huawei, marking a new phase in their strategic partnership [1] - GAC Group's Chairman and General Manager, Feng Xingya, emphasized the importance of the Qijing project, stating it will be prioritized with concentrated resources for long-term development [1] Company and Industry Summary - Liu Jiaming's extensive background includes leading the planning of popular models such as Highlander and Camry during his tenure at GAC Toyota [1] - The collaboration between GAC and Huawei aims to leverage Huawei's strengths in advanced driving assistance, smart cockpit technology, user ecosystem, and brand marketing, alongside GAC's expertise in electric vehicle technology and manufacturing [1] - The strategic partnership is expected to enhance the competitive edge of the Qijing brand in the rapidly evolving electric vehicle market [1]

Group 1 - Huawei announced that the number of HarmonyOS 5 terminal devices has exceeded 17 million, indicating rapid development of the Hongmeng ecosystem and a comprehensive upgrade of AI experiences [2] - Huawei officially launched the "Tiangong Plan," committing to invest 1 billion RMB to support innovation in the Hongmeng AI ecosystem and collaborate with developers [2][4] - The OpenHarmony ecosystem has seen over 130 million lines of code contributed by more than 9,200 community contributors, resulting in over 1,300 hardware and software products across various industries [3] Group 2 - Huawei and GAC Group have deepened their collaboration, officially announcing the "Qijing" brand, which is positioned as a high-end intelligent electric vehicle brand [5] - The first product under the "Qijing" brand is expected to be a luxury intelligent electric vehicle priced around 300,000 RMB, with both pure electric and range-extended power options, slated for release in 2026 [6] - The "Qijing" brand will fully integrate Huawei's advanced intelligent technology, including smart driving and smart cockpit features, leveraging GAC's manufacturing expertise [6]

Core Viewpoint - The collaboration between Huawei and GAC has resulted in the launch of a new high-end automotive brand called "Qijing," which signifies GAC's commitment to fully integrate Huawei's technology into its vehicles [2][4]. Group 1: Brand and Product Development - The first product under the "Qijing" brand is expected to be a luxury smart electric vehicle priced around 300,000 yuan, with a planned launch in 2026 [2]. - "Qijing" vehicles will feature Huawei's advanced smart technologies, focusing on areas such as assisted driving, smart cockpit, user ecosystem, and brand marketing, while GAC will contribute its expertise in electric vehicle technology and manufacturing [2][4]. Group 2: Collaboration Model - The partnership represents a new collaboration model termed "HI Plus," which differs from previous models by integrating Huawei's technology more deeply into GAC's product development and marketing processes [4][6]. - This model allows GAC to maintain product definition authority while benefiting from Huawei's technological influence, creating a synergistic effect that aims for a "1+1>2" outcome [5][6]. Group 3: Market Context and Challenges - The market response to the announcement of "Qijing" has been lukewarm, with GAC's stock experiencing slight declines, indicating investor skepticism about the brand's potential to replicate the success of Huawei's previous collaborations [7]. - GAC's recent performance has been challenging, with a 12.48% year-on-year decline in sales and a significant net loss, highlighting the urgency for GAC to leverage Huawei's capabilities to enhance its competitiveness in the electric vehicle market [8][9]. Group 4: Future Outlook - The success of "Qijing" will depend on its ability to establish a strong foothold in the market for vehicles priced above 300,000 yuan, which could potentially restore GAC's position in the electric vehicle sector [9]. - GAC is implementing a city recruitment plan for "Qijing," aiming to create a robust distribution network across major cities in China, which is crucial for the brand's market penetration [9][10].

Investment Rating - The industry rating is "Outperform the Market" [7] Core Insights - The release of the draft national standard for intelligent connected vehicles establishes a clear safety baseline for products in this sector [2][12] - The "Qijing" brand, a collaboration between GAC Group and Huawei, aims to integrate advanced intelligent technologies into high-end smart electric vehicles, enhancing competitiveness in the market [3][13] Market Performance - From September 15 to September 19, 2025, the automotive sector increased by 3%, outperforming the CSI 300 index by 3.4 percentage points [14] - Year-to-date, the automotive sector has risen by 26.3%, ranking 8th among 31 sectors [14] Sales Data - From September 1 to 14, 2025, retail sales of passenger vehicles reached 732,000 units, a year-on-year decrease of 4% but a month-on-month increase of 6% [5][35] - New energy passenger vehicle retail sales during the same period were 438,000 units, showing a year-on-year increase of 6% and a month-on-month increase of 10% [5][35] Key Data - In August 2025, total automotive sales were 2.857 million units, with a year-on-year increase of 16.4% [41] - The inventory level of automotive dealers was at a reasonable range, with a comprehensive inventory coefficient of 1.31 [38] Industry News - The China Automobile Association is promoting a "60-day payment term" for suppliers, with major automakers responding positively [63] - Zeekr Technology's shareholders approved a merger agreement with Geely Automobile, which will make Zeekr a wholly-owned subsidiary of Geely [66]

Core Viewpoint - The establishment of the "Qijing" brand, a high-end smart electric vehicle brand jointly created by GAC Group and Huawei, marks a significant strategic collaboration aimed at enhancing the smart mobility experience [1][3]. Group 1: Strategic Collaboration - Huawei's rotating chairman, Xu Zhijun, expressed the hope that Qijing can open new horizons and win the future by integrating intelligence into every vehicle, enhancing safety and quality of life [3]. - GAC Group's chairman and general manager, Feng Xingya, emphasized that Huawei is not only a key partner but also a model for the transformation of GAC, prioritizing the Qijing brand for long-term development [3]. Group 2: Technological Integration - Qijing vehicles will be equipped with Huawei's advanced intelligent technologies, leveraging Huawei's strengths in assisted driving, smart cockpit, user ecosystem, and brand marketing, combined with GAC's expertise in electric power and vehicle manufacturing [3]. - The Qijing brand aims to deeply integrate the advantages of both GAC Group and Huawei in areas such as intelligence, ecology, and brand synergy, providing consumers with a forward-looking smart mobility experience [3].

Group 1 - The core viewpoint of the article highlights the recent developments in the automotive industry, particularly the pre-sale of the Jietu Zongheng G700 and the launch of the GAC Trumpchi Xiangwang S9, along with the introduction of a new high-end smart electric vehicle brand by GAC and Huawei [1][3][17] Group 2 - Jietu Zongheng G700 has commenced pre-sale with a price range of 349,900 to 429,900 yuan, offering four models [1][3] - The G700 features a boxy design, dimensions of 5198mm in length, 2050mm in width, and 1956mm in height, with a wheelbase of 2870mm, and includes off-road styling elements [2] - The vehicle is powered by a Kunpeng super hybrid CDM-O system, with a 2.0T engine producing a maximum power of 155kW and a total system power of 560kW, achieving a range of 1400km on full fuel and battery [5] - The interior design emphasizes luxury with numerous physical buttons, featuring amenities such as a ceiling screen for the second row, a built-in refrigerator in the armrest, heated and ventilated seats, and a high-end sound system [6] - The G700 is positioned similarly to models like Tank 500 Hi4-T and Fangcheng Leopard 8, combining off-road capability with luxury features suitable for daily commuting [7] Group 3 - GAC Trumpchi Xiangwang S9 has been launched with a price range of 229,900 to 259,900 yuan, offering four models [8][9] - The S9 adopts a new design language with a spacious and luxurious feel, measuring 5060mm in length, 1950mm in width, and 1760mm in height, with a wheelbase of 2930mm [11] - It features a simplified interior design with wood accents, equipped with advanced technology such as Huawei's ADS 4 Max and a high-quality sound system [13] - The powertrain consists of a 1.5T engine combined with a dual-motor hybrid system, achieving a maximum power of 118kW for the engine and 170/80kW for the front and rear motors, with a 0-100 km/h acceleration time of 6.6 seconds [15] - The S9 aims to compete in the crowded 200,000 yuan SUV market, leveraging product strength and Huawei's technology [15] Group 4 - GAC Group has partnered with Huawei to launch a new high-end smart electric vehicle brand named Qijing, targeting the premium market above 300,000 yuan, with the first vehicle expected to debut in 2026 [17] - The collaboration will involve GAC's manufacturing and battery technology, while Huawei will provide smart technology and participate in product development and marketing [17]

Core Viewpoint - The article highlights the transformation of Seres from a challenger in the luxury electric vehicle market to a member of the global "profit club" for new energy vehicle companies, emphasizing its strategic focus on high-end, intelligent manufacturing, and ecological collaboration during the "14th Five-Year Plan" period [1]. Group 1: High-End Strategy - In the first half of 2025, Seres reported impressive results with revenue reaching 62.402 billion yuan and a net profit of 2.941 billion yuan, marking an 81.03% year-on-year increase, establishing itself as a profitable player in the global new energy vehicle sector [2]. - Seres has successfully transitioned from a focus on "cost performance" to "value performance," with an average transaction price of 410,000 yuan per vehicle and a net profit of 20,700 yuan per vehicle in Q2 of this year [2]. - The collaboration with Huawei since 2021 has led to the creation of the AITO brand, which includes models like M5, M7, M8, and M9, effectively covering the mainstream luxury segment and reshaping the luxury car market in China [2]. Group 2: Intelligent Manufacturing Leap - Seres operates three smart factories, with over 5,000 robots, including more than 3,000 in its flagship super factory, achieving 100% automation in key processes and ensuring quality monitoring and traceability [4][6]. - The company has adopted a "factory within a factory" model, allowing core suppliers like CATL and Yanfeng to set up production lines within Seres' super factory, significantly enhancing supply chain efficiency and responsiveness [6]. - R&D investment reached 5.198 billion yuan in the first half of 2025, a 154.9% increase year-on-year, with 6,984 R&D personnel, representing 36% of the total workforce, leading to the development of core technologies like the Magic Cube technology platform [8]. Group 3: Ecosystem Collaboration - Seres has established deep partnerships with over 20 top global companies, enhancing collaboration efficiency and innovation capabilities within its supply chain [6]. - The company has streamlined its supply chain by reducing the number of first-tier suppliers from 300 to 100, ensuring better integration and efficiency [6]. - The focus on creating a user-centered, data-driven, and ecosystem-supported business model marks a significant shift from traditional manufacturing narratives, positioning Seres as a new type of technology enterprise [8].

Core Insights - The "Qijing" brand has been officially launched as a high-end smart electric vehicle brand jointly created by GAC Group and Huawei [3] - GAC Group aims to prioritize the Qijing project, allocating significant resources to ensure its long-term development [1] - The collaboration between GAC and Huawei focuses on integrating advanced smart technologies into all Qijing vehicles, enhancing safety and user experience [1] Group 1 - Xu Zhijun expressed the hope that Qijing can open new horizons and win the future, emphasizing the importance of teamwork in building a high-end brand [1] - Feng Xingya highlighted Huawei's role as a key partner and mentor in the transformation of GAC, indicating a strategic cooperation under new circumstances [1] - The Qijing brand will leverage Huawei's strengths in assisted driving, smart cockpit, user ecosystem, and brand marketing, combined with GAC's expertise in electric vehicle technology and manufacturing [1] Group 2 - Qijing aims to deeply integrate the advantages of both GAC Group and Huawei in terms of intelligence, ecology, and brand synergy [1] - The brand is positioned to provide consumers with a forward-looking smart travel experience through innovative products and services [1]

Core Insights - GAC Group and Huawei have officially announced the launch of a new high-end intelligent electric vehicle brand named "Qijing" [1][4] - The brand aims to integrate advanced smart technologies from Huawei into all models, focusing on creating a superior intelligent travel experience [4] Group 1 - The Qijing brand is a strategic collaboration between GAC Group and Huawei, with both companies aiming to leverage their strengths in smart technology and automotive manufacturing [4] - Huawei's rotating chairman, Xu Zhijun, expressed the ambition for Qijing to become a high-end brand that enhances safety and quality of life through intelligent features [4] - GAC Group's chairman, Feng Xingya, emphasized the importance of the Qijing project, stating it will be prioritized and supported with significant resources for long-term development [4] Group 2 - The Qijing project represents a new strategic partnership in the evolving automotive landscape, highlighting the shift towards smart and electric vehicles [4] - The collaboration is expected to yield innovative results by combining GAC's automotive expertise with Huawei's advanced technology [4]

Group 1 - GAC Group and Huawei have officially announced the launch of a high-end smart electric vehicle brand named "Qijing" [1][3] - The brand represents a strategic collaboration between GAC Group and Huawei in the field of intelligent mobility [1] - Huawei's rotating chairman, Xu Zhijun, expressed the hope that Qijing will create a new realm and win the future, providing users with an exceptional smart travel experience [3] Group 2 - GAC Group's chairman and general manager, Feng Xingya, emphasized that the company will prioritize Qijing, concentrating its resources and leveraging Huawei's technology and team to promote the project's long-term development [3]