于日常生活中发现美，在平凡事物中寻求美，宋韵美学以一种超越物象的精神追求，深刻影响了中国文 化的发展。从2023年"宋韵今辉"艺术特展，到2024年"雅正高华——宋代生活艺术的记忆之场"宋韵美学 研究展，再到今年举办的"洞天行履——宋人自然秩序的审美转译"宋韵美学艺术展，中国美术学院从多 个维度深入挖掘宋韵艺术美学内涵，为开启更多生活美学新篇提供学术支撑。 自然美学，是宋韵艺术美学极具魅力的文化特征。《庄子·内篇·齐物论》言"天地与我并生，而万物与我 为一"。宋人于感悟自然中把天地万物转化为创造诗书画器的灵感，将生活艺术化，又将艺术生活化。 郭熙在《林泉高致》中构筑起"可行、可望、可游、可居"的山水理想，米芾以"米点皴"晕染烟雨空蒙的 山水意境，汝窑青瓷营造出"雨过天青"的超然美感，宋代园林成为文人寄托雅趣、修身养性的载体，这 些都是宋人在现实生活中对"天人合一"哲学思想的阐释。在生活节奏日益加快的当下，宋人"万物静观 皆自得"的从容，恰是应对纷扰的智慧之道。 宋韵艺术美学穿越千年，始终鲜活。潘天寿以金石之气取法宋画丘壑，黄宾虹于夜山墨韵中重释宋人山 水精神，刘既漂将《营造法式》中的传统建筑纹样作为西湖博览会 ...

Core Insights - The 23rd Guangzhou International Auto Show officially opened on November 21, 2025, featuring the launch of the Ora 5 under Great Wall Motors' Ora brand, themed as "Ora 5 - The Selected Partner for Young People" [2] - The Ora 5 began pre-sales on November 12, and this event marks its first public appearance post-pre-sale [2] Group 1 - The Ora brand showcased user experience videos during the launch event, highlighting the vehicle's performance in urban commuting and weekend camping scenarios [4] - The Ora 5 is equipped with Great Wall Motors' self-developed Coffee Pilot Ultra driver assistance system, capable of achieving full-scene NOA functionality without relying on high-precision maps [4] - The vehicle features a "second-generation short-blade battery" that meets safety standards, with an energy consumption of 11.6 kWh per 100 kilometers [4] Group 2 - The design of the Ora 5 is based on the "natural aesthetics" concept, offering color options such as "Aurora Green" liquid metal paint [6] - The brand aims to transition from being a "product definer" to a "companion" for users, focusing on the needs of young consumers regarding self-expression, practicality, and quality in their mobility solutions [6]

Core Insights - The core theme of the event was the launch of the Ora 5, positioned as a "selected partner for young people," showcasing the brand's commitment to understanding and catering to the preferences of the younger generation [1][4]. Group 1: Product Launch and Promotions - The Ora brand announced an upgrade to the pre-sale benefits for the Ora 5, changing the offer from "1000 yuan for 3000 yuan" to "1000 yuan for 5000 yuan," along with additional incentives such as a maximum of 5000 yuan for trade-in subsidies and complimentary features like special paint and wheels [4][11]. - The promotional benefits will be available until the day of the Ora 5's official launch, ensuring that all pre-order customers can also enjoy these upgraded perks [4][11]. Group 2: Brand Engagement and Audience Interaction - The event featured a lively atmosphere with significant attendance from fans, media, and influencers, indicating strong interest and engagement with the Ora 5 [7][10]. - The brand's approach included interactive segments where product managers engaged with fans, showcasing real-life usage scenarios through videos from users, which highlighted the vehicle's versatility and appeal [14][23]. Group 3: Target Audience and Brand Philosophy - The brand manager articulated a shift in the brand's philosophy from being a "definer" to a "witness" and "companion" for young users, emphasizing that the Ora 5 is designed to be more than just a mode of transportation but a means of self-expression and lifestyle [11][26]. - The concept of "dual engagement" was introduced, reflecting the brand's understanding of the needs of Generation Z, who seek vehicles that resonate with their lifestyle and values [11][26]. Group 4: Product Features and Technology - The Ora 5 is equipped with advanced features such as the Coffee Pilot Ultra driver assistance system, which operates without relying on high-precision maps, making it suitable for various driving conditions [20][23]. - Safety features include a second-generation battery that exceeds national standards and a high-quality chassis developed by a team from BMW, ensuring reliability and performance [23].

Core Viewpoint - Great Wall Motors' Ora brand has launched the pre-sale of its new A-class pure electric SUV, Ora 5, targeting young users and family car scenarios with a price range of 109,800 to 142,800 yuan [1] Group 1: Product Features - The Ora 5 focuses on design experience, intelligent configuration, and product quality, catering to the high cost-performance and personalized travel needs of contemporary young consumers [4] - The design of the Ora 5 is based on the "natural aesthetics" concept, featuring multiple color options including "Aurora Green" and an interior design that incorporates Eastern "white space" aesthetics for a minimalist and comfortable cabin atmosphere [5] - The vehicle is equipped with Great Wall's self-developed Coffee Pilot Ultra driver assistance system, utilizing 27 perception hardware components to achieve full-scene NOA without relying on high-precision maps, and supports over 200 parking scenarios [6] Group 2: Brand Strategy - The collaboration with brand ambassador Hou Minghao reflects a strong alignment of values, embodying the youthful, vibrant spirit that resonates with the Z generation, and aims to establish a deeper emotional connection with young consumers [7] - The launch of the Ora 5 marks a significant step in the brand's transformation into a "fashionable boutique car brand," emphasizing a commitment to accompany users in expressing their individuality [7] Group 3: Market Positioning - The Ora brand has expanded into over 50 countries and regions globally, gaining the trust of nearly 600,000 users, with the pre-sale of the Ora 5 signaling a key milestone in the brand's global product strategy [9]

Core Viewpoint - Great Wall Motors' Ora brand has officially launched the pre-sale of its new A-class pure electric SUV, Ora 5, with a price range of 109,800 to 142,800 yuan, marking a significant step in its global product strategy [1][4]. Design and Features - The Ora 5 features a "natural aesthetics" design and is available in a unique "Aurora Green" liquid metal paint [1]. - It is equipped with the Coffee Pilot Ultra autonomous driving system, which includes 27 perception hardware components, enabling full-scene NOA without relying on high-precision maps, and supports over 200 parking scenarios, including cross-floor memory parking [1][3]. Battery and Efficiency - The vehicle is fitted with a "second-generation short blade battery" and has been tuned by the Great Wall BMW team for its chassis [3]. - The Ora 5 boasts an impressive energy consumption rate of 11.6 kWh/100 km under CLTC conditions [3]. Brand and Market Presence - The Ora brand has expanded its reach to over 50 countries and regions globally, gaining the trust of nearly 600,000 users [4]. - The launch of the Ora 5 signifies a rejuvenation for the Ora brand and highlights its ambitious global product strategy [4].

Core Viewpoint - Great Wall Motors held the "Ora 5 Natural Aesthetic Design Appreciation Meeting," showcasing the design philosophy of its first A-class pure electric SUV, the Ora 5, which emphasizes a connection between nature and urban life [1][5][21] Group 1: Product Overview - The Ora brand has entered over 50 countries and regions globally, gaining the trust of nearly 600,000 users, reflecting its commitment to creating classic products for a diverse global market [3] - The naming convention of "brand + number" for the Ora 5 eliminates regional connotations and enhances memorability for global users, marking a new chapter in Ora's global strategy [5][21] Group 2: Design Philosophy - The design philosophy of the Ora 5 integrates natural aesthetics into automotive design, aiming to resonate emotionally with users by embodying a "urban natural life form" [5][9][21] - The design team has completely abandoned rigid lines, opting for a full-surface language that allows light and shadow to flow seamlessly across the vehicle, creating a sense of movement and vitality [9][21] Group 3: Technical Details - The design features a high precision of G3-level curvature control, achieving a precision of 1 micron, which contributes to the vehicle's fluid and dynamic appearance [9] - The body design adheres to the Fibonacci curve, a mathematical principle found in nature, enhancing its universal aesthetic appeal [9] Group 4: Interior Design - The interior design philosophy is inspired by the "white space" concept from Eastern painting, creating a spacious and calming environment for users [13][14] - The interior offers three color options named "Morning White," "Afternoon Brown," and "Night Gray," each capturing different emotional atmospheres throughout the day [13] Group 5: Color and Finish - The color design team has drawn inspiration from natural wonders worldwide, resulting in five unique exterior colors that tell stories and evoke emotions [20] - The "Aurora Green" color utilizes advanced materials and techniques to replicate the flowing beauty of the Northern Lights, showcasing the vehicle's dynamic character [20] Group 6: Emotional Connection - The design of the Ora 5 aims to evoke genuine emotions and a sense of connection between individuals, cities, and nature, moving away from the coldness of industrial design [21]

Core Insights - The Chinese medical aesthetics market is transitioning from "pragmatism" to "improvement-oriented consumption," reflecting an upgrade in consumer perception of beauty and marking a new phase of rational development in the industry [1] Trends - **Generational Shift in Consumer Motivation**: Early consumers focused on functional needs like scar removal, while current consumers prefer quality enhancement through non-surgical procedures, with over 60% of demand in cities like Chengdu centered on maintenance and anti-aging projects [3] - **Natural Aesthetic Standards**: There is a shift away from exaggerated "internet celebrity" looks towards natural aesthetics, with a preference for subtle enhancements that are less noticeable [4] - **Professionalization of Decision-Making**: The decision-making process has lengthened by 20%, with consumers now conducting thorough research on institutions and materials before making choices [5] Driving Factors - **Rise of Consumer Sovereignty**: Increased transparency in medical aesthetics has empowered consumers to demand customized solutions rather than standardized packages, aligning with the characteristics of the "fifth consumption era" [7] - **Regulatory Policies and Industry Standardization**: Stronger national regulations are accelerating industry cleanup, with standardized management of procedures like "photonic rejuvenation" and "ultrasound" expected to reduce consumer risk [8] - **Technological Advancements and Product Innovation**: New technologies such as polylactic acid (youthful injections) are projected to grow at a compound annual growth rate of 31.2% from 2025 to 2027, supporting the shift towards improvement-oriented consumption [9] Industry Impact - **Transformation of Institutional Operating Models**: Leading institutions are moving away from low-price strategies to build a "technology + service" moat, focusing on high-end clientele and professional service capabilities [11] - **Precision in Product Development**: Companies are increasingly targeting niche markets with specialized injection products, with the market for collagen-based projects expected to grow from 3.7 billion yuan in 2021 to 13.7 billion yuan by 2027 [12] - **Comprehensive Service Process Management**: There is a growing demand for post-operative tracking and complication management, with some institutions introducing "medical beauty insurance" to ensure safety and effectiveness [13] Future Outlook - **Market Segmentation and Demand Layering**: The trend of budget polarization is intensifying, with high-end markets focusing on expensive anti-aging and regenerative medicine projects, while the mass market centers on affordable light medical aesthetics [14] - **Experience Upgrade Driven by Technology**: The integration of AI and 5G technologies is expected to lead to smarter and more immersive medical aesthetic services, enhancing consumer experience [15] - **Ethical and Aesthetic Rebalancing**: The industry must be cautious of "over-medicalization" risks, emphasizing the importance of educating consumers on the medical essence of aesthetics to foster a healthier perception of beauty [16]

Investment Rating - The report maintains a "Buy" rating for the company [2][8]. Core Insights - The company recently launched its new product, HiveCOL, which is a recombinant type III human collagen gel, aiming to redefine anti-aging standards and lead natural aesthetics [5][8]. - HiveCOL is designed to fill tissue volume loss quickly and promote the adhesion, migration, and proliferation of fibroblasts, ensuring sustained ECM regeneration for at least six months [8]. - The product targets high-consumption medical beauty consumers, with a peak sales potential exceeding 10 billion yuan, based on market analysis [8]. Financial Data and Profit Forecast - Total revenue is projected to grow from 1,443 million yuan in 2024 to 3,952 million yuan by 2027, with a compound annual growth rate (CAGR) of 22.5% [7][10]. - Net profit attributable to the parent company is expected to increase from 732 million yuan in 2024 to 1,934 million yuan in 2027, reflecting a CAGR of 25.6% [7][10]. - The company's gross margin is forecasted to remain high, around 90%, indicating strong profitability [7][10].