Group 1: Acquisition and Strategic Partnership - China FAW Group Corporation (FAW) has acquired a 35.80% stake in Shenzhen Zhuoyu Technology Co., becoming the largest shareholder, while the original controlling shareholder, New Territory, will hold 34.85%, establishing a joint control relationship [1] - The equity cooperation indicates a shift from simple product procurement to deep collaboration between FAW and Zhuoyu Technology, aiming to build a new supply chain relationship to ensure technology implementation and ecological control [1] - The partnership is expected to reduce uncertainties in collaboration and ensure long-term strategic alignment, particularly important given the high investment and long development cycles associated with intelligent driving technology [1] Group 2: Diversified Cooperation in Intelligent Driving - FAW Group is deepening its layout in the intelligent driving sector by collaborating with multiple suppliers, including Horizon Robotics, Zhuoyu Technology, Huawei, and Momenta [2] - Compared to the equity control with Zhuoyu Technology, FAW's partnership with Horizon focuses on in-depth cooperation in intelligent driving solutions, while Huawei employs a HI cooperation model [2] - This diversified cooperation strategy allows FAW Group to maintain flexibility in its technological supply system and effectively respond to competitive pressures in the rapidly changing automotive industry [2] Group 3: International Expansion Efforts - FAW Group is accelerating its internationalization across logistics, production, and sales networks, with the first China-Europe freight train carrying high-end components for its brands departing for Europe [3] - The first batch of exported vehicles from FAW-Volkswagen, including the Magotan and Sagitar models, has officially rolled off the production line, targeting the Middle East market [3] - FAW has established a dedicated international automotive company to streamline its international operations, enabling quicker responses to market changes [3] Group 4: Future Goals and Challenges - FAW Group has set ambitious sales targets, aiming to exceed 5 million vehicle sales by 2030, with over 3 million being intelligent connected new energy vehicles [3] - The company also aims for over 200 million sales of its own brands and over 150 million sales of its own intelligent connected new energy vehicles, alongside a target of over 700,000 sales in overseas markets [3] - Achieving these targets will require overcoming challenges related to brand transformation, brand building, and international operations, particularly as the current sales base for new energy vehicles remains low [3]

登录新浪财经APP 搜索【信披】查看更多考评等级 本报讯（记者冯雨瑶）9月26日早盘时间，赛力斯股价盘中一度涨停，最高报163.52元/股，创历史新 高。不过，随后公司股价打开涨停，截至上午收盘，涨幅为8.36%，股价报161.08元/股，换手率5.1%， 最新市值2631亿元。 消息面上，9月25日晚间，赛力斯发布公告称，公司于近日收到中国证券监督管理委员会出具的《关于 赛力斯集团股份有限公司境外发行上市备案通知书》，公司拟发行不超过3.31亿股境外上市普通股并在 香港联合交易所上市。 据公告披露，公司自备案通知书出具之日起12个月内未完成境外发行上市，拟继续推进的，应当更新备 案材料。同时，公告显示，公司本次境外发行上市尚需取得香港证券及期货事务监察委员会和香港联合 交易所等相关监管机构、证券交易所的批准或核准，该事项仍存在不确定性。公司将根据该事项的进展 情况依法及时履行信息披露义务，敬请广大投资者注意投资风险。 据招股书披露，赛力斯核心技术能力主要体现在魔方技术平台、超级增程、安全技术、智能测试、智慧 服务等方面。未来，公司的战略路径包括：构建科技豪华新范式，打造全球新能源汽车智能化标杆；坚 持大单品 ...

内容概要：电子雨刮器是汽车生产制造中的重要配件，其发展与汽车产业的发展紧密相连。随着我国汽 车保有量的不断增加，特别是近年来新能源汽车的快速发展，消费者对汽车安全性、舒适性和智能化的 需求日益提升。电子雨刮器相较于传统雨刮器，具有更高的技术含量和更好的使用体验。它采用电子控 制模块，能够实现电机的自动调速和智能控制，更准确地检测雨滴大小和速度，从而更精确地调节刮水 速度和频率。此外，电子雨刮器还具有低噪音、低能耗等优点，提高了乘车的舒适性。这些优势使得电 子雨刮器逐渐成为汽车市场的主流产品。2024年中国电子雨刮器行业市场规模达到54亿元，同比上涨 5.9%。 相关上市企业：捷众科技（873690）、爱柯迪（600933）、云意电气（300304）、贵航股份 （600523）、上汽集团（600104）、长安汽车（000625）、吉利汽车（00175）、广汽集团 （601238）、一汽解放（000800）、长城汽车（601633）等。 相关企业：浙江胜华波电器股份有限公司、广州三叶电机有限公司、广州立功科技股份有限公司、正泰 集团股份有限公司、浙江图腾汽车用品制造有限公司、东莞山多力汽车配件有限公司、厦门富可汽 ...

28年来始终专注于一件事，把小零件做成大生意，保隆科技董事长张祖秋在中国汽车零部件领域书写了 一段传奇。作为早期从生产传统汽车零部件起步的民营企业，张祖秋和他的创业团队敢于设定超越当下 的目标，不断倒逼企业技术与资源整合能力的提升。 汽车行业正经历巨变，保隆科技也通过智能化实现华丽转身。上海证券报记者日前走进保隆科技，在研 发生产一线发现，从气门嘴、平衡块、排气管等传统业务积累的制造能力，已成为公司切入新兴领域的 基石。除了胎压监测系统等已处于全球领先水平，公司还将汽车智能化业务从基础传感器延伸至智能驾 驶传感器。在张祖秋看来，未来，保隆科技的产业链还有望延伸到机器人和低空飞行器等科技前沿领 域，实现更多的自我超越。 从气门嘴到胎压监测 经过迭代改进，保隆科技最新型的胎压监测传感器不仅能够实时监测轮胎的气压和温度，还能对爆胎做 实时报警，与智能底盘技术融合，实现高速行驶的汽车爆胎后稳定控制，变被动安全为主动安全，大幅 提高了车辆行车安全性。目前，行业内已有多款具备爆胎后稳定控制的高端车型面世。 由胎压监测系统出发，保隆科技在汽车传感器领域持续耕耘陶瓷电容技术、封装技术等技术前沿，已拓 展至六大类四十多种产品应 ...

Core Viewpoint - The successful implementation of the "Double King" strategy by Huichuan Technology is attributed to the independent operation of its subsidiary, United Power, which has recently launched its IPO and achieved significant market performance [2][5]. Group 1: Company Strategy and Performance - United Power initiated its IPO on September 15, with an issue price of 12.48 yuan per share, raising 3.6 billion yuan, and saw its stock price surge by 147.6% on the first trading day, closing at 30.9 yuan, giving it a market capitalization exceeding 74 billion yuan [2][3]. - The "Double King" strategy, proposed in 2016, focuses on becoming a leader in both the new energy vehicle (NEV) components and industrial automation sectors, significantly boosting the company's performance in the NEV market [5][6]. - The NEV sales penetration rate in China increased from 1.8% in 2016 to over 40% by 2024, with expectations to exceed 50% by 2025, while the company's revenue grew over eightfold during the same period [6][9]. Group 2: Market Position and Competitive Advantage - United Power has established itself as a leading independent third-party automotive powertrain supplier, holding significant market shares in various NEV components, including a 10.1% share in electric motor controllers and an 11.3% share in stator installations [9][10]. - The company serves over 40 OEMs and has developed hundreds of power system solutions, leveraging modular design to reduce costs and enhance responsiveness to market demands [10][11]. - The competitive landscape is characterized by a dual-track model where independent suppliers and OEMs coexist, with United Power positioned as a flexible and scalable supplier capable of meeting diverse customer needs [10][12]. Group 3: Future Outlook and Innovation - The automotive industry is transitioning towards greater intelligence, with United Power aiming to lead in smart chassis technology and digitalization, which are seen as critical for future competitiveness [4][15]. - The company plans to innovate by integrating robotics principles into automotive design, focusing on advanced motion control and safety features [12][13]. - Predictions indicate that the global smart chassis market will exceed $80 billion by 2025, with a significant portion attributed to steer-by-wire technologies, highlighting the importance of innovation in this sector [15].

冯兴亚指出，作出这种判断的依据，主要是未来的产业发展模式一定是向着新能源化、低碳化、绿色化的方向，而中国走在前面，引领了绿色低碳化潮流。 深圳商报· 读创客户端驻穗记者 张莹 2025年《财富》世界500强峰会25日在广州举行，广汽集团董事长冯兴亚在会上表示，汽车产业正经历百年未有之大变局，预计未来十年全球前十大车企中 将有3-5家中国企业。 广汽集团董事长冯兴亚。主办方供图 冯兴亚表示，中国汽车产业眼下正经历"四期叠加"：变革期、快速迭代期、车企管理模式模型重构期以及产业竞争格局重塑期。 未来十年中国至少3-5家车企进入全球前十 他认为，未来十年的汽车一定是智能的移动空间。体现为无人驾驶技术变得普遍和消费人群分化，一部分人追求操控感觉，驾驶乐趣；另一类就是移动出行 工具，进入到无人驾驶和自动驾驶时代，汽车的操控性实际已经感觉不到。 这些新趋势反应在汽车产业，导致竞争格局发生相应改变。汽车整车厂硬件的竞争变成整个产业链生态的竞争；产业收益模式也将一改过去单一依靠产品和 服务，变成汽车的硬件、软件、服务、生态都会成为利润来源。 "另外从全球格局来讲，站在现在看十年之后，全球前十大汽车厂家当中至少有三家，甚至三到 ...

以下文章来源于一见Auto ，作者何煦阳 一见Auto . 汽车竞争中的野心、方法论与新秩序。21世纪经济报道旗下汽车报道品牌。 记者丨 何煦阳 编辑丨张明艳 图源：21世纪经济报道 奇瑞控股集团董事长尹同跃敲响的港交所钟声，回荡着奇瑞汽车二十余年的风雨兼程。 2025年9月25日，奇瑞汽车成功登陆港交所，股票代码9973.HK，募资规模达91.4亿港元， 成 为港股市场2025年以来最大车企IPO。 奇瑞汽车开盘表现亮眼。以34.2港元/股开盘，较30.75港元的发行价上涨11.22%，市值一度突 破2000亿港元。截至收盘，奇瑞汽车股价为31.92港元/股，市值回落至1841亿港元，仍展现出 资本市场对奇瑞汽车的认可。 据弗若斯特沙利文统计，自2003年起，奇瑞已连续22年蝉联中国自主品牌乘用车公司"出口第 一"，这一独特的核心竞争力，也成为其在港股获得近2000亿港元估值的关键差异化长板。 但光环之下，奇瑞的"偏科"现象也不容忽视。 2025年第一季度，奇瑞乘用车收入中燃油车占比超过六成，新能源转型任重道远；智驾路 线历经"全栈自研"到"自研+合作"的多次摇摆；研发投入占比仅3.3%，远低于比亚迪的 8 ...

Core Viewpoint - Chery Automobile successfully listed on the Hong Kong Stock Exchange on September 25, with its stock price rising over 13% on the first day, reaching a market capitalization of over HKD 200 billion [1]. Group 1: IPO Details - Chery set its IPO price at HKD 30.75 per share, raising a total of HKD 91.4 billion, making it the largest IPO for an automotive company in the Hong Kong market this year [4]. - The funds raised will be allocated to various areas, including R&D for different models, next-generation automotive technology, global market expansion, production facility upgrades, and general corporate purposes [4]. Group 2: Investor Participation - Thirteen cornerstone investors participated in the IPO, collectively subscribing to shares worth approximately USD 587 million (around HKD 45.73 billion), which includes significant investments from well-known institutions and local governments [6]. - Notable investors include state-owned fund Jingquan Shanrui, Hillhouse Capital, and several A-share companies, which provide strong confidence in Chery's future development [6]. Group 3: Company Performance - In August, Chery Group sold 242,700 vehicles, a year-on-year increase of 14.6%, with electric vehicle sales rising by 53.1% [7]. - The company has shown strong revenue growth, with projected revenues increasing from CNY 92.62 billion in 2022 to CNY 269.90 billion in 2024, and net profits rising from CNY 5.81 billion to CNY 14.33 billion during the same period [7]. - In Q1 2025, Chery achieved a revenue of CNY 68.22 billion, reflecting a year-on-year growth of 24.25%, and a net profit of CNY 4.73 billion, up 90.87% [7]. Group 4: Strategic Positioning - Chery has established a comprehensive brand matrix covering various market segments, including mainstream, luxury, electric, and high-end intelligent vehicles, positioning itself to adapt to the trends of electrification and intelligence in the automotive industry [6][8].

Core Viewpoint - 2025 is a pivotal year for automotive intelligence, initiating a three-year cycle that will drive domestic electrification penetration rates to achieve a leap of 50%-80%+, reshaping the vehicle landscape [4][12]. Group 1: Industry Trends - The leading intelligent driving manufacturers have successfully implemented urban NOA experiences, including complex scenarios like roundabouts and U-turns, while enhancing high-level functions such as parking and scene understanding [4][12]. - The report includes both large-sample centralized road tests and small-sample in-depth road tests, evaluating the intelligent driving experiences of ten manufacturers, including XPeng, NIO, and Tesla, across various dimensions [5][12]. Group 2: Performance Improvements - Compared to Q1 2025, Q3 2025 saw improvements in intelligent driving capabilities across all manufacturers, with narrowing absolute gaps. The first-tier manufacturers achieved full-scene NOA and continued to optimize user experience [6][12]. - New entrants in self-research have shown impressive intelligent driving performance, with expectations for significant iterations in the next six months, potentially leading to substantial changes in overall experience [7][12]. Group 3: Specific Manufacturer Insights - XPeng, Huawei, and Li Auto remain in the first tier, with XPeng's self-developed Turing chip achieving 2250 TOPS of effective local computing power, enhancing driving logic [7][12]. - NIO and Xiaomi have rapidly caught up to near-first-tier levels, transitioning from "usable" to "well-usable" experiences, with NIO's world model exceeding expectations and Xiaomi enhancing complex scenario handling capabilities [8][12]. Group 4: Road Test Results - XPeng's average total takeover count was 1.51, indicating excellent overall performance, particularly in roundabout capabilities and efficiency [46][49]. - The average takeover count for the Huawei ADS-equipped vehicle was 0.60, with high scores in stability and comfort during driving [50][52]. - Li Auto's average takeover count was 1.47, demonstrating strong performance in roundabout scenarios and overall driving stability [53][56]. - NIO's average takeover count was 2.03, with good performance in roundabouts and a generally smooth driving experience [57][60]. - Xiaomi's average takeover count was 1.94, showing stable performance and the ability to handle complex scenarios effectively [60][62].

当传统豪华车巨头决心在中国市场追赶智能电动车的节奏，它的自我革新会以怎样的形态呈现？奔驰的 答案是：从最具品牌辨识度的CLA车型切入，在纯电版本上保留经典的三叉星徽格栅，却把智能驾驶系 统的关键一环，交给中国公司Momenta。 9月25日，梅赛德斯-奔驰与Momenta在联合宣布，基于Momenta飞轮大模型，双方联合研发的智能驾驶 辅助系统即将发布，并率先搭载于今秋上市的国产全新纯电CLA车型。同日，全新纯电CLA车型也开启 预售。 这不是一次简单的供应商采购。与直接采用现成方案不同，奔驰选择与Momenta共建团队、联合开发智 能辅助驾驶系统，该系统能够实现高速、城区以及泊车场景下，从车位到车位的智能辅助驾驶功能。 21世纪经济报道记者焦文娟 这一合作早有伏笔。早在2017年，奔驰成为首个投资Momenta的国际车企。本次即将上车的辅助驾驶系 统依据中国实际交通路况和驾驶场景开发，力求在安全、舒适与效率层面达到奔驰标准。Momenta CEO曹旭东评价，奔驰"标准之严、对细节要求之高、对速度要求之快，体现其在行业中的豪华标杆地 位"。奔驰介绍，未来这一系统还会拓展至更多奔驰车型。 奔驰的"中国速度"不止 ...