新能车ETF紧密跟踪中证新能源汽车产业指数，电池权重占比52.6%、能源金属13.3%，直接受益产业链景气改善。 中证新能源汽车产业指数选取50只业务涉及新能源整车、电机电控、锂电设备、电芯电池、电池材料等新能源汽车产业的上市公司证券作为指数样本，反映 新能源汽车产业龙头上市公司证券的整体表现。 受六氟磷酸锂价格上涨带动，电解液、能源金属板块逆势上涨，有效拉动新能车ETF降幅收窄，日内最大反弹超2.5%。 截至2025年10月13日 13:55，中证新能源汽车产业指数(930997)下跌0.67%。成分股方面涨跌互现，多氟多(002407)领涨9.98%，湖南裕能(301358)上涨 6.46%，盛新锂能(002240)上涨5.70%；科达利(002850)领跌5.78%，德福科技(301511)下跌5.57%，三花智控(002050)下跌5.51%。新能车ETF(515700)下跌 0.78%，最新报价2.42元。拉长时间看，截至2025年10月10日，新能车ETF近2周累计上涨3.52%，涨幅排名可比基金1/2。 数据显示，截至2025年9月30日，中证新能源汽车产业指数(930997)前十大权重股分别为 ...

点 击 蓝 字 关 注 我 们 本文全文共 831 字，阅读全文约需 2 分钟 9月新能源乘用车市场预判 2025年9月共有22个工作日，较去年同期工作日相同，生产销售时间相对充裕。由于2024年中秋节在9 月，2025年的中秋节在国庆假期中，因此今年9月市场的热度更高一些。 为引导行业健康发展，工信部联合多部门部署进一步规范新能源汽车产业竞争秩序工作，效果明显。近 几年车市"前低后高"的销量特征日益明显，在政策等助力下9月开始的年末车市走强特征显现。虽然今年9月开 局终端人气有所回落，但受益于以旧换新政策以及地方刺激政策的双重拉动，月中市场热度逐渐恢复平稳。分 能源类型来看，新能源人气走势优于8月底，而燃油车热度基本持平。成都车展前后迎来年内新一轮新产品密 集发布期，多款全新车型上市吸引消费者广泛关注，随着新车陆续开启交付，预计新品对市场贡献将逐步提 升，新能源市场再度进入高速增长阶段。 随着近期主力车企的电动化突破和部分爆款新品的推出，带动9月车市结构性高增长。9月的吉利汽车、 长安汽车、零跑汽车、东风汽车、小鹏汽车、长城汽车、蔚来汽车、上汽乘用车、极狐汽车、广汽丰田和长安 马自达等厂商新能源批发销量创出 ...

Core Insights - The "China Urban New Energy Vehicle Industry Intelligence Vitality Index Report 2025" highlights the growing potential of cities like Changzhou and Changchun in the new energy vehicle (NEV) sector [1][3] - The report evaluates the regional development levels of China's NEV industry by assessing 15 key cities, aiming to guide healthy industrial collaboration and development [1][3] Changzhou Insights - Changzhou has over 3,400 enterprises in the NEV supply chain, achieving a local supply rate of 97% for key raw materials in power batteries [2] - In the first half of the year, Changzhou's NEV industrial enterprises reported sales exceeding 470 billion yuan, a year-on-year increase of 9.4%, with vehicle production reaching 391,000 units, up 42.3% [1][2] - A strategic cooperation framework was signed between the Changzhou government and CATL to develop six new ecosystems, including microgrid industries and advanced battery technologies [1] Changchun Insights - Changchun, known as the birthplace of China's automotive industry, has a robust automotive sector with major manufacturers like Hongqi and Audi, covering all vehicle categories [2] - The city is accelerating its digital and intelligent transformation in manufacturing, with numerous national-level smart and green factories [2] - Changchun is committed to innovation-driven development, launching nine key initiatives and establishing a 10 billion yuan automotive industry special fund to support the entire supply chain [2] Report Overview - The report was jointly compiled by the China Economic Information Service and the Equipment Engineering Research Institute, providing a scientific quantification of urban NEV industry development for government decision-making and industrial layout [3]

Group 1 - The domestic and international energy storage market is showing positive signals, with a significant project initiated by Zhongxiang Capital in Gansu, involving a total investment of approximately 400 million yuan for a 100MW/400MWh energy storage project [1] - By the first half of 2025, new energy storage installations in China are expected to reach 21.9GW/55.2GWh, representing year-on-year increases of 69.4% and 76.6% respectively, with a total forecast of over 43GW/110GWh for the entire year [1] - The energy storage industry is experiencing rapid growth driven by renewable energy consumption and policy support, with current valuations at historical lows, presenting investment opportunities in the large-scale storage industry chain and companies benefiting from overseas industrial storage demand [1] Group 2 - The CSI New Energy Vehicle Industry Index includes 50 listed companies involved in various sectors of the new energy vehicle industry, reflecting the overall performance of leading companies in this sector [2] - As of August 29, 2025, the top ten weighted stocks in the CSI New Energy Vehicle Industry Index account for 54.55% of the index, with major companies including CATL, BYD, and others [2] - The New Energy Vehicle ETF closely tracks the CSI New Energy Vehicle Industry Index, with lithium battery stocks comprising 62% of its weight, indicating strong market interest [2]

9月24日上午，2025国际汽联生态拉力杯（中国站）在合肥骆岗公园发车。来自国内外的100名参赛 选手将穿越合肥市、安庆市、池州市、黄山市和宣城市，驰骋"皖美"山水。 赛道"皖"美如画，绿色竞速绘就山水长卷 据悉，本次赛事是国际汽联专门为新能源汽车打造的一项国际顶级赛事，与F1齐名于国际舞台， 吸引了全球目光聚焦安徽。 "千名车友探安徽"自8月起先后在池州、黄山、安庆、宣城、合肥等地举办多场线下自驾集结活 动，开展商旅文体健联动，促进赛、展、节、游一体开展，不仅通过音乐会、新车试驾、体育消费等搭 建线下消费场景，同时发放景区门票优惠券，扩大票根经济效应，打造"一日活动，多日旅游"的体育旅 游闭环，吸引近2000名车友积极参与。安庆市还特别推出专属福利，赛事期间市内三区六县的33个景区 面向赛事车友开展景区免门票活动。 "百万车粉巡安徽"则以线上打卡抽奖形式突破地域限制，结合体彩体验券活动吸引超210万点击 量，让大众足不出户就能参与赛事互动，纵览赛事旅游地图，沉浸式感受安徽的文旅魅力，真正实 现"赛事出圈、文旅受益"。 皖车"汽"势如虹，创新引领迈向国际产业高地 此次比赛共有100名国内外选手参赛，其中20名 ...

Group 1 - The core viewpoint of the article highlights the continuous rise in the energy metals and battery sectors, with the new energy vehicle ETF closely tracking the CSI New Energy Vehicle Industry Index, benefiting from the lithium battery boom and valuation recovery, showing an increase of over 3.0% and achieving three consecutive gains [1] - The CSI New Energy Vehicle Industry Index selects 50 listed companies involved in the new energy vehicle industry, including sectors such as new energy vehicles, electric motors, lithium battery equipment, battery cells, and battery materials, reflecting the overall performance of leading listed companies in the new energy vehicle sector [1] - As of August 29, 2025, the top ten weighted stocks in the CSI New Energy Vehicle Industry Index include CATL, Huichuan Technology, BYD, Sanhua Intelligent Control, EVE Energy, Huayou Cobalt, Changan Automobile, Tianqi Lithium, Ganfeng Lithium, and Guoxuan High-Tech, with the top ten stocks accounting for a total of 54.55% of the index [1] Group 2 - The new energy vehicle ETF (515700) has several off-market connection products, including Ping An CSI New Energy Vehicle ETF Initiated Connection A (012698), C (012699), and E (024504) [1]

股票简称：联合动力 股票代码：301656 苏州汇川联合动力系统股份有限公司 Suzhou Inovance Automotive Co., Ltd. （苏州市吴中区越溪天鹅荡路 52 号） 首次公开发行股票并在创业板上市 之 上市公告书 保荐人（主承销商） （中国（上海）自由贸易试验区商城路618号） 二〇二五年九月 苏州汇川联合动力系统股份有限公司 上市公告书 特别提示 苏州汇川联合动力系统股份有限公司（以下简称"联合动力"、"发行人"、 "公司"或"本公司"）股票将于 2025 年 9 月 25 日在深圳证券交易所创业板上市。 创业板公司具有业绩不稳定、经营风险高、退市风险高等特点，投资者面 临较大的市场风险。投资者应充分了解创业板市场的投资风险及本公司所披露 的风险因素，审慎做出投资决定。 本公司提醒投资者应充分了解股票市场风险及本公司披露的风险因素，在 新股上市初期切忌盲目跟风"炒新"，应当审慎决策、理性投资。 如无特别说明，本上市公告书中的简称或名词的释义与本公司首次公开发 行股票并在创业板上市招股说明书中的相同。 本上市公告书中若出现总计数与所列数值总和不符的情形，均为四舍五入 所致。 1 苏州 ...

Core Viewpoint - Warren Buffett has completely divested his shares in BYD, marking the end of an investment era for Berkshire Hathaway in the company, which raises questions about BYD's future performance in the market [2][10][17]. Investment and Financial Performance - Berkshire Hathaway initially purchased 225 million shares of BYD at a cost of $232 million, averaging $1.03 per share, equivalent to approximately HKD 8.01 [10]. - The fair value of BYD investments held by Berkshire Energy surged from the second half of 2020, driven by BYD's stock price increase, which was influenced by the broader market conditions and the rise of the new energy vehicle sector [4][8]. - BYD's stock price experienced a significant leap in 2022 after the company ceased production of fuel vehicles and focused entirely on new energy vehicles, indicating a strong market shift [8][9]. Market Competition and Sales Performance - In the first eight months of 2025, BYD maintained its position as the top-selling electric vehicle manufacturer in China, with cumulative sales of 2.195 million units, a year-on-year increase of 5.5% [11][12]. - Despite leading in sales, BYD's growth rate is lower than the overall market and competitors like Geely, which saw a 62.1% increase in sales during the same period [11][12]. - In August 2025, BYD's sales reached 310,000 units, but this represented an 18.3% year-on-year decline, indicating potential challenges in maintaining growth amidst increasing competition [12][13]. Industry Outlook and Challenges - The new energy vehicle market in China is projected to face a slowdown as government incentives, such as tax exemptions, are set to expire, which may stabilize the rapid growth seen in recent years [12]. - Competitors like Geely and Changan are aggressively pursuing market share, with Geely's new energy transition yielding significant results [12][13]. - BYD's long accounts payable cycle poses a potential liquidity risk, as the company may struggle to meet short-term financial obligations if payment terms are tightened [15][16]. Financial Metrics and Comparisons - BYD's overall gross margin for the first half of 2025 was 18.01%, with the automotive segment achieving a gross margin of 20.35%, although there was a decline in the second quarter [14]. - In comparison, other emerging players like Xpeng and Li Auto have shown improved gross margins, indicating a competitive edge in financial performance [14]. - The recent initiative by the China Automobile Association to standardize payment terms could enhance supplier relationships for BYD, but the company must address its high accounts payable turnover days to avoid cash flow issues [14][15]. Conclusion - Buffett's exit from BYD signals a pivotal moment for the company and the broader electric vehicle market, as competition intensifies and the industry transitions from explosive growth to a more differentiated competitive landscape [17]. - The emergence of new players with strong financial health and innovative capabilities suggests a shift in market dynamics, necessitating a reevaluation of investment strategies within the sector [17][18].

Market Performance Overview - The New Energy Vehicle (NEV) index rose by 1.09% from September 15 to September 19, outperforming the CSI 300 index by 1.53% [1] - The best-performing sector within the automotive industry was the automotive parts index, which increased by 2.73% [1] - The charging pile index, part of the NEV battery sector, saw a modest increase of 0.56% [1] Company Performance New Energy Vehicle Manufacturers - Haima Automobile (000572.SZ) closed at 5.46 CNY, with a weekly increase of 11.2% [3] - Seres (601127.SH) closed at 143.6 CNY, up by 3.83% [3] - BYD (002594.SZ) closed at 109.09 CNY, with a 3.0% increase [3] - GAC Group (601238.SH) saw a slight increase of 0.26%, closing at 7.75 CNY [3] - Great Wall Motors (601633.SH) decreased by 0.76%, closing at 24.94 CNY [3] - JAC Motors (600418.SH) fell by 1.28%, closing at 53.8 CNY [3] - Changan Automobile (000625.SZ) decreased by 1.61%, closing at 12.25 CNY [3] - BAIC BluePark (600733.SH) experienced a significant drop of 8.94%, closing at 7.94 CNY [3] Automotive Parts Manufacturers - Junsheng Electronics (600699.SH) surged by 44.25%, closing at 37.1 CNY [5] - Shanzhi Gaoke (000981.SZ) increased by 39.71%, closing at 3.87 CNY [5] - Top Group (601689.SH) rose by 11.26%, closing at 74.71 CNY [5] - Fuyao Glass (600660.SH) saw a slight increase of 1.83%, closing at 72.35 CNY [5] - Huayu Automotive (600741.SII) decreased by 1.23%, closing at 20.06 CNY [5] Battery Manufacturers - CATL (300750.SZ) closed at 368.49 CNY, with a weekly increase of 13.38% [7] - Funeng Technology (688567.SII) rose by 3.83%, closing at 20.89 CNY [7] - EVE Energy (300014.SZ) decreased by 3.25%, closing at 71.41 CNY [7] Charging Pile Manufacturers - Ganfeng Lithium (002460.SZ) increased by 13.42%, closing at 52.82 CNY [9] - Tianqi Lithium (002466.SZ) rose by 2.23%, closing at 45.01 CNY [9] Industry Data - In August, NEV production reached 1,391,000 units, a year-on-year increase of 27.4% [30] - Cumulative NEV production reached 9,625,000 units, up 37.3% year-on-year [30] - NEV sales in August were 1,395,000 units, a year-on-year increase of 26.8% [30] - Cumulative NEV sales reached 9,620,000 units, up 36.7% year-on-year [30] - Exports reached 220,000 units, a year-on-year increase of 100% [30] - Cumulative exports reached 1,530,000 units, up 87.3% year-on-year [30] - The penetration rate for wholesale NEV sales was 52.2% in August [30] Battery Material Prices - As of September 19, the average price of battery-grade lithium hydroxide was 79,100 CNY/ton, unchanged from September 12 [12] - Battery-grade cobalt sulfate averaged 58,250 CNY/ton, up 2,750 CNY/ton from September 12 [14] - Battery-grade nickel sulfate averaged 28,150 CNY/ton, up 50 CNY/ton from September 12 [16] - The price of lithium iron phosphate remained stable at 34,300 CNY/ton [18] - The price of ternary precursor 811 increased by 1,750 CNY/ton to 91,000 CNY/ton [19]

赵庚晟代表中国汽车流通协会向出席活动的领导嘉宾表示欢迎，向十堰市委市政府的鼎力支持表示感谢。他表示，十堰因车而建，因车而兴，是全国汽 车产业化程度最高、链条最完整、集群优势最明显的区域之一。面对行业多层次、多元化发展趋势，要抢抓宏观政策窗口期，主动融入服务全国统一大市场 建设，推动新能源汽车产业由大制造向大流通转变，由卖产品向卖服务升级，实现"制造+生产性服务业"双轮驱动转型。 刘世锦对本届交易会的召开表示祝贺。他说，我国新能源汽车产业在过去二十年取得了令人瞩目的成就，连续十年产销保持全球第一，已成为拉动中国 经济增长的重要引擎和重要支撑。当前，我国新能源汽车高增长态势延续，反内卷治理与技术革命双轮驱动产业格局正加速重构。未来，随着技术创新不断 突破、应用场景不断丰富、国际化程度不断提高，新能源汽车产业必将继续为中国经济发展注入新动能。十堰在汽车产业方面有着深厚的积淀，希望十堰在 跨界融合重构产业生态、持续拉长产业链条、优化市场配置机制、促进新能源汽车出口上做文章，进一步提升产业链现代化水平，加快在全国新能源汽车产 业发展中脱颖而出。 黄剑雄代表市委市政府向莅临盛会的各位领导、各位嘉宾表示诚挚欢迎。他说，零部 ...