Group 1 - The core viewpoint of the article highlights significant developments in various companies and industries, including IPOs, leadership changes, and market strategies [2][4][15] Group 2 - Zhiyuan AI went public on January 8, 2026, with a goal to become a leading global model enterprise by 2026, as stated by its founder and chief scientist, Tang Jie [2] - Vanke A announced the resignation of Yu Liang due to retirement, effective January 8, 2026, marking a significant leadership change in the company [4] - The founder's family of Maogeping plans to reduce their stake by 3.51%, amounting to approximately 1.41 billion HKD, to improve personal finances and invest in the beauty industry [4][7] Group 3 - Xiaomi's Lei Jun announced a significant investment in R&D, committing 200 billion CNY over the next five years to enhance core technologies, including AI and chips [7] - Multiple car manufacturers are launching promotional activities to counter the impact of new electric vehicle purchase taxes, with Tesla and GAC Group leading the charge [8] - Alphabet Inc. has surpassed Apple in market capitalization, becoming the second-largest company globally, reflecting its strong position in the AI sector [8] Group 4 - JD.com established the "Chameleon Business Unit" to accelerate the commercialization of AI technologies, with new AI products set to launch soon [13] - Alibaba Cloud introduced a multimodal interaction development kit aimed at AI hardware, integrating various foundational models for diverse applications [20] - Ford plans to launch an L3 level driving assistance system by 2028, initially in a new affordable electric pickup truck [21]

Group 1 - The People's Bank of China conducted a reverse repurchase operation of 1.1 trillion yuan with a term of 3 months (90 days) [2] - China Petroleum & Chemical Corporation (Sinopec) and China Aviation Oil Holding Company announced a restructuring, with China Aviation Oil being the largest aviation fuel service provider in Asia [2] - Domestic flight ticket prices have significantly dropped after New Year's Day, with some tickets as low as 210 yuan, equivalent to a 1.1% discount [2] Group 2 - Multiple automotive companies have announced promotional discounts in response to the impact of the new energy vehicle purchase tax, including Tesla's low-interest financing options [5] - Bawang Tea has denied rumors of plans for a Hong Kong IPO, stating that there are currently no such plans [6] - The U.S. government has announced it will indefinitely control the sale of Venezuelan oil, with revenues being deposited into U.S. controlled accounts [7] Group 3 - The memory market has entered a "super bull market" phase, surpassing historical highs from 2018, driven by increased demand from AI and server capacity [8]

Core Viewpoint - Multiple automotive companies are launching aggressive discount promotions to counter the impact of the new energy vehicle purchase tax [1] Group 1: Company Promotions - Tesla China has introduced a car purchase incentive, offering a "7-year ultra-low interest" financing plan for the Model 3/Y/Y L, with a minimum down payment starting at 79,900 yuan and monthly payments as low as 1,918 yuan [1] - Tesla's Model Y L is participating in these promotions for the first time, and there is also a "5-year 0% interest" financing option available [1] - GAC Group has announced similar promotional activities for its self-owned brands, including a limited-time purchase tax guarantee policy, financial interest subsidies, and additional incentives for trade-ins or scrappage [1] Group 2: Subsidy Details - For GAC Trumpchi, the total "government-enterprise subsidy," which includes "national subsidies" and purchase rights, can reach up to 70,000 yuan [1] - Prior to these announcements, several automotive companies had already revealed promotional policies for the first month of the new year in 2026 [1] - The industry generally believes that the increased discounts at the beginning of the year are primarily aimed at offsetting the effects of the newly imposed purchase tax on new energy vehicles [1]

Group 1 - The automotive stocks continue to decline, with Beijing Automotive down 3.13% to HKD 1.86, Li Auto down 2.25% to HKD 65.3, GAC Group down 1.99% to HKD 3.95, and Great Wall Motors down 1.23% to HKD 14.47 [1] - Multiple car manufacturers are launching price reduction promotions to counter the impact of the new energy vehicle purchase tax, with Tesla China offering a "7-year ultra-low interest" financing plan for Model 3/Y/Y L and GAC Group announcing various incentives including tax subsidies and additional trade-in bonuses [1] Group 2 - According to Dongfang Securities, consumer sentiment is cautious due to the suspension of subsidies in some provinces and cities, leading to a decline in retail sales of passenger vehicles in November and December 2025, with limited impact on 2026 from the end-of-year surge [2] - Guotai Junan Securities believes that the reduction of subsidies for mid-to-high price range new energy vehicles and fuel vehicles will positively influence the automotive industry's profit margins and reduce internal competition [2]

Core Insights - The new policy for electric vehicle (EV) purchase tax has been implemented in 2026, reducing the previous full exemption to a 50% reduction, resulting in a 5% tax rate for consumers [2][4] - The subsidy policy has shifted from fixed amounts to a percentage of the vehicle price, although the maximum subsidy remains unchanged, leading to a decrease in support for lower-priced models [2][4] Group 1: Market Reactions - Car manufacturers and dealerships are increasing promotional efforts to attract hesitant buyers, aiming for a strong start to the 2026 market [2][3] - During the New Year holiday, there was a notable increase in customer inquiries and test drives, with sales staff working in larger numbers to accommodate demand [3][5] - Many dealerships are advertising their sales achievements to draw in more customers, with some offering cash discounts and trade-in subsidies [3][4] Group 2: Specific Company Strategies - Li Auto is offering varying discounts based on model, with significant reductions for popular models like the L6 and L7 [4] - NIO and other new energy brands are implementing "bottom line" measures to offset the increased purchase tax, such as cash subsidies and price reductions [6][7] - Tesla has not introduced any compensatory measures for the new tax policy but continues to see strong customer interest and sales [7] Group 3: Sales Performance - Some dealerships reported high sales volumes during the holiday, with one store selling over 10 new energy vehicles in a single day [8][9] - Despite the increased costs from the new tax, many brands are still experiencing robust sales, indicating strong market demand [8][9] - The introduction of new models and promotional strategies is expected to maintain consumer interest and sales momentum in the coming months [10][11]

上海五角场商圈蔚来门店，摄影：莫一格 蔚来门店的火热情况并非孤例。元旦期间，记者走访了多家新势力门店，特斯拉、极氪、鸿蒙智行门 店客流量都保持在高位，鸿蒙智行门店销售表示："客户比平时周末要多。" 2026年，新能源汽车迎来了两大政策变动，一是新能源汽车车辆购置税优惠力度"退坡"，从全额免 征调整为减半征收（按5%税率）；二是汽车"两新"政策补贴方式出现了变化，将定额补贴调整为按 车价比例进行补贴，虽然补贴上限保持不变，但低价车型补贴力度实际上也在"退坡"。 在上述政策变动的背景下，多家新势力门店销售告诉记者，从元旦销售情况来看，新政对市场销售影 响有限。从"国补"政策来看，新能源车价达16.67万元以上，能够拿满报废更新补贴；新能源车价达 18.75万元，能够拿满置换更新补贴，而很多新势力平均售价在此之上，所以"国补"情况基本与2025 年一致。新能源汽车购置税"退坡"确实增加了消费者的购车成本，但很多车企出台了相应的"兜底"措 施。 2026.01. 05 本文字数：1122，阅读时长大约2分钟 作者 | 第一财经 肖逸思 莫一格 "试驾排到凌晨一两点，"1月3日，上海五角场商圈蔚来门店销售向第一财经记者 ...

【重磅新闻】 12月PMI数据将公布 12月31日，国家统计局将公布12月PMI数据。 11月份，制造业PMI为49.2%，比10月上升0.2个百分点，景气水平有所改善。11月份，非制造业商务活 动指数为49.5%，比10月下降0.6个百分点。11月份，综合PMI产出指数为49.7%，比10月下降0.3个百分 点。 下周存储龙头解禁市值超百亿元 Wind数据显示，下周由于元旦假期因素仅有3个交易日，限售股上市规模环比大幅下降，仅有36.83亿股 解禁，解禁市值约为580.97亿元。在下周涉及解禁的34家公司中，佰维存储、萤石网络等解禁市值超百 亿元。 | | | 下周解禁个股 | | | | | --- | --- | --- | --- | --- | --- | | 个股代码 | 公司简称 | 解禁日期 | 解禁数量 | 解禁数量 | 解禁市值 | | | | | (亿股) | 占总股本比 세 | (亿元) | | 920415.BJ | 恒拓开源 | 12/29 | 0.018 | 1.25% | 0.257 | | 600845.SH | 宝信软件 | 12/29 | 0.003 | 0.01% | ...

进入12月，本是汽车市场历年来年末冲量的关键窗口期，但智通财经记者走访发现，相较于往年同期的 喧嚣热闹，今年末的车市可谓"静悄悄"，消费者持币观望情绪浓厚成为普遍现象。 记者实地走访了包括特斯拉、小米、鸿蒙智行、阿维塔等在内的近十家新能源品牌发现，展厅内普遍客 流稀疏、略显冷清。 某小米汽车门店工作人员透露，进入12月后店内成交量稍微有所下降，一周成交两三台，公司推出"现 车选购"活动并没有明显带动门店销量；而另有两个品牌的销售门店工作人员更是直言，近一周内，其 门店甚至都没有实现线下成交。 其实进入11月后，业内专家已普遍预料到年末车市不会出现翘尾行情。 消费者在展厅选购汽车 消费者观望：预期"国补"明年继续、期待新款增配降价 这种观望情绪的蔓延，与政策环境的变化密切相关。 今年以来，多地汽车置换补贴、新能源购车补贴等政策陆续退出，尤其是新能源汽车购置税从全额免征 调整为减半征收的政策节点临近，让不少消费者陷入纠结。与此同时，业内关于2026年新补贴政策出台 的预期不断升温，进一步强化了消费者的等待心理。 其实在今年11月，车市销量下降已经初现端倪：国内汽车销量在11月迎来近三年来的首次同比负增长。 中汽协 ...

Core Viewpoint - The automotive market in 2026 is expected to face significant pressure due to the cancellation of subsidies and the introduction of a 50% purchase tax on new energy vehicles [1][4][12]. Group 1: Market Conditions - The automotive market is experiencing a downturn, with retail sales in November dropping to 2.225 million units, a year-on-year decrease of 8.1% [6]. - The cancellation of local subsidies has led to a significant decline in consumer activity, with many dealerships reporting a lack of customers compared to previous years [2][7]. - The expectation of a year-end sales surge has not materialized, as dealers report disappointing sales figures [6][12]. Group 2: Subsidy Policies - The central government's vehicle replacement subsidy is set to continue until December 31, 2025, but many local subsidies have already been exhausted [2][8]. - The introduction of a 50% purchase tax on new energy vehicles starting in 2026 is anticipated to further strain the market [4][12]. - Despite the challenges, some regions are still implementing local subsidies to stimulate sales, with examples of cash incentives being offered in various cities [9][14]. Group 3: Company Responses - In response to the market conditions, many automakers are introducing their own incentives, such as covering the additional purchase tax for customers who order vehicles before the end of 2025 [3][12]. - Companies like Dongfeng Honda and Lynk & Co are optimistic about maintaining stable sales through strategic product offerings and adapting to policy changes [12][13]. - Automakers are focusing on enhancing their product value and aligning their strategies with local market demands to navigate the upcoming challenges [13][14].

随着各地汽车以旧换新补贴陆续用完，汽车市场开始急速变冷。近日，经济观察报记者连续走访了奔驰汽车、小鹏汽车、广汽传祺、广汽埃安、东风本田、 广汽丰田等多个品牌的4S店，并未看到往年年底热闹的抢购场景。与之相反，多数4S店里只有一两组客人，气氛有些冷清。 "12月市场很淡，业绩也很差，主要受到国补和多地政补取消叠加下半年度高息高返取消等因素影响。由于明年新能源开始征收50%购置税，业内原本预计 年底会出现翘尾行情，但国补和置换外迁政策的取消，还是带来了不小的影响。"北京地区某广汽丰田汽车经销商负责人对经济观察报表示。 补贴政策出现变数，是目前车市波动的关键因素。根据国家发改委和财政部的政策安排，当前中央财政层面的汽车以旧换新补贴资金统一发放至2025年12月 31日为止，但由于补贴刺激消费效果明显，许多地方补贴资金已提前消耗完毕。另外，工业和信息化部、财政部、税务总局已联合发布公告，明确2026年1 月1日至2027年12月31日期间，新能源汽车车辆购置税将减半征收。此外，对享受优惠的车辆设定了更严格的技术标准。 汽车一线销售人员对市场的冷热表现感受更加直接。北京丰台区某广汽埃安销售人员表示："今年年底并不忙，主 ...