打破外资垄断，重构豪华范式 岚图泰山的上市，标志着中国汽车在核心技术领域实现关键突破。新车搭载的国内首款三腔空气悬架， 此前长期为保时捷、宾利等百万级豪华品牌专属，岚图汽车通过联合开发打破海外技术壁垒，让中国品 牌首次掌握这一核心配置的自主话语权。 该悬架搭配EDC魔毯功能与双向16°后轮转向，使车长超5米的大型SUV转弯半径仅5.4米，彻底解决了 大型车型操控难题；配合博世最新IPB2.0智能控制系统，其麋鹿测试成绩达80km/h，制动距离仅34m， 重新定义了大型豪华SUV的驾控标准。 11月18日，岚图汽车旗下旗舰SUV岚图泰山正式上市。作为岚图汽车向港交所提交上市申请后的首款战 略产品，这款背靠东风56年造车底蕴的豪华大六座SUV，集岚图全栈自研技术与华为智能科技于一身， 强势切入40万级豪华市场，彰显了中国汽车品牌在高端化赛道的技术底气与产业向上决心。 从筹备到递交申请，岚图上市进程展现"岚图速度"。2025年8月22日东风集团股份公告岚图将以介绍方 式登陆港交所，9月15日完成工商变更，短时间内即进入实质性推进阶段。资本市场对这一央国企高端 新能源标的寄予厚望，而岚图泰山的市场反馈将进一步强化投资 ...

智通财经APP获悉，11月21日，中国证监会公布境外发行上市备案补充材料要求公示(2025年11月17日 —2025年11月21日)。证监会要求岚图汽车补充说明本次交易履行国有资产管理程序情况，履行境外投 资审批、核准或备案程序情况。据港交所10月2日披露，岚图汽车向港交所提交上市申请，中金公司为 其独家保荐人。据招股书，岚图汽车是东风公司旗下高端智慧新能源品牌。 同时，证监会要求其补充说明(1)东风集团股份的历史沿革及主营业务，就本次交易履行决策程序的情 况；(2)除公司股权外，东风集团股份股东是否有现金选择权，是否涉及现金支付，如有请说明资金来 源。公司设立时股东出资资产情况；公司历次股权变更履行国资管理程序情况；就公司历次股权变更合 法合规性出具结论性意见。 此外，说明补充说明开发、运营的网站、APP、小程序等产品情况，收集及储存的用户信息规模、数据 收集使用情况，是否涉及向第三方提供个人用户信息，上市前后个人信息保护和数据安全的安排或措 施。 招股书显示，岚图汽车的目标人群定位于新时代中坚力量，产品主要覆盖人民币20万元至人民币50万元 价格带。岚图汽车于2021年8月开始交付第一款车型岚图FREE， ...

Core Viewpoint - The launch of the Lantu Taishan marks a significant step for Lantu Motors as it aims to establish itself in the high-end SUV market, leveraging advanced technology and design to compete with luxury brands [1][4][9]. Group 1: Product Features - Lantu Taishan is equipped with Huawei's latest ADS 4 laser driving system, enhancing its intelligent driving capabilities beyond human performance [3][6]. - The vehicle features a 13L dual-door intelligent climate control box, 32-speaker sound system, and a 21.4-inch 3K entertainment ceiling screen, aligning its comfort features with luxury vehicles priced over one million [3][6]. - It is the first SUV globally to adopt the 800V Lanhai intelligent hybrid system, offering a pure electric range of 350 kilometers and a comprehensive range exceeding 1400 kilometers [6][9]. Group 2: Market Positioning - The launch of Lantu Taishan signifies the establishment of a complete flagship product lineup, enhancing Lantu's competitive stance against domestic and international luxury brands [4][9]. - Lantu Motors has achieved an 82% year-on-year increase in cumulative deliveries from January to October this year, indicating strong market demand [9]. - The company has improved its gross margin from 8.3% in 2022 to 21.0% in 2024, positioning itself as the second-highest in the new energy vehicle sector [9]. Group 3: Safety and Technology - Lantu Taishan features a comprehensive safety system with a full-dimensional collision avoidance system and advanced passive safety measures, including a 2200MPa door ring and nine airbags [7][9]. - The vehicle's design incorporates a three-chamber air suspension and rear-wheel steering, enhancing both stability and maneuverability [6][9]. Group 4: Pricing and Variants - The Lantu Taishan is available in four versions: Max, Max+, Ultra, and Black Warrior, with official prices ranging from 379,900 to 509,900 yuan, including promotional benefits valued at 48,000 yuan [10].

Core Viewpoint - Lantu Automotive launched the Lantu Taishan SUV, marking a significant entry into the high-end electric vehicle market, which is shifting from scale expansion to value cultivation in China [1][2] Product Launch and Market Positioning - The Lantu Taishan is available in four versions: Max, Max+, Ultra, and Black Warrior, targeting the high-end SUV segment, which has been dominated by foreign brands [1] - Lantu aims to become the first Chinese high-end electric vehicle brand to mass-produce SUVs, MPVs, and sedans, with the Taishan seen as a key product to set industry benchmarks [1][2] Sales Performance - Lantu FREE+ saw a 500% year-on-year sales increase in October, ranking among the top three in the 200,000 to 300,000 yuan hybrid SUV market [2] - The new Lantu Zhiyin topped the sales chart for pure electric vehicles in the 200,000 yuan category in September, while the Lantu Dreamer remains a leader in the high-end electric MPV segment [2] Technical Specifications - The Lantu Taishan features an 800V super hybrid system, with a standard 65 kWh battery from CATL, offering a pure electric range of 350 km and a combined range exceeding 1400 km [2] - It supports 5C peak charging, allowing 20% to 80% charging in just 12 minutes, and has a dual-motor intelligent all-wheel-drive system with a total power output of 380 kW and torque of 705 N·m, achieving 0-100 km/h in 5.2 seconds [2] Intelligent Features - The vehicle employs Huawei's ADS4 four-laser solution for comprehensive environmental perception and enhanced emergency response capabilities [3] - The integration of HarmonyOS and voice models allows for rapid human-machine interaction with a response time of 0.8 seconds [3] Chassis and Safety Innovations - Lantu Taishan is the first Chinese brand vehicle to feature a three-chamber air suspension, enhancing stability and urban maneuverability [3] - The vehicle's safety is reinforced with a 2200 MPa door ring, having undergone extensive crash testing to ensure high passive safety standards [3] Strategic Focus - Lantu emphasizes independent control of core technologies to drive industry chain upgrades, ensuring product quality and contributing to breakthroughs in key automotive technologies [4] - The brand integrates Chinese cultural elements into its design and actively engages with users to align product offerings with consumer needs [5] Market Expansion and Global Strategy - Lantu has established a sales network covering 148 cities with 407 stores, including a flagship experience center in Wuhan [5] - The company is expanding into international markets, including the Middle East and Europe, with plans to adapt products for local preferences [5] Future Outlook - Lantu submitted its listing application to the Hong Kong Stock Exchange, signaling a new phase of capital empowerment and global development opportunities [5]

● 龚梦泽 熊永红 11月18日，岚图汽车在深圳以"争峰"为主题举办岚图泰山上市发布会，这款大六座SUV正式推出Max 版、Max+版、Ultra版及黑武士版四大版型。当前中国新能源汽车产业正从规模扩张转向价值深耕。此 前售价40万元以上的高端汽车市场曾长期被海外品牌主导，如今自主品牌加速突破，大六座SUV作为家 庭消费升级与商务需求的交叉赛道，更是成为各品牌必争的战略高地。其中，理想、问界等品牌通过精 准定位实现销量跃升。在此背景下，岚图泰山的入场被视作高端新能源汽车品牌向核心细分市场发起冲 击的关键动作。 在智能化方面，该车型采用华为乾崑智驾ADS4四激光方案，可实现对周围环境的全维度感知，预判和 处理紧急情况的能力更强，而鸿蒙座舱5与语音大模型的组合，让人机交互响应速度快至0.8秒，支持四 音区精准识别。 在中国品牌颇有建树的底盘技术方面，岚图泰山的突破同样显著。作为首个搭载三腔空气悬架的中国品 牌车型，配合双向16°后轮转向系统与EDC魔毯功能，让车长5.23米、轴距3120毫米的大型SUV转弯半 径仅为5.4米，兼顾稳定性与城市通勤灵活性。"我们强调的不是技术堆砌，而是用户体验，比如三腔空 悬高度可 ...

Core Insights - The collaboration between BAIC Group and Huawei has resulted in the launch of the premium electric vehicle brand, Xiangjie, with its flagship model, Xiangjie S9T, participating in the 2025 China Digital Automotive Competition, showcasing the strength of Chinese high-end manufacturing [1][2] Group 1: Product and Technology - Xiangjie S9T combines BAIC's decades of experience in automotive manufacturing with Huawei's advanced technology in smart connectivity and autonomous driving, creating a dual empowerment of "manufacturing hard power + technology soft power" [1] - The vehicle is designed to withstand extreme road conditions, demonstrating confidence in the co-created technology through real-world testing rather than just theoretical specifications [2] Group 2: Market Reception and Performance - Early user feedback highlights the vehicle's robust build quality and effective smart driving assistance, indicating strong market demand and consumer expectations [4] - The ongoing competition serves as a public validation of the collaborative model between BAIC and Huawei, emphasizing the capabilities of Chinese high-end electric vehicles [4] Group 3: Event Details - The 2025 China Digital Automotive Competition commenced on November 17 in Wuqing District, Tianjin, with the route covering diverse and challenging terrains, reflecting various user scenarios [2][4] - The event is co-hosted by several organizations, including the China Economic Information Agency and the China Automotive Engineering Society, aiming to establish more scientific and credible evaluation standards for the industry [2]

Core Insights - The launch of the Lantu Taishan model, priced between 379,900 and 509,900 yuan, marks a significant elevation in the Lantu brand's pricing strategy and aims to establish its presence in the high-end market [2][3] - Lantu Automotive has submitted its listing application to the Hong Kong Stock Exchange, planning to adopt an "introduction listing" model, which is seen as a strong endorsement from Dongfeng Motor Group for Lantu as a premium brand [2][4] - Lantu's cumulative delivery volume from January to October this year has increased by 82% year-on-year, achieving a total of 300,000 units sold, positioning it among the top in the state-owned enterprise new energy vehicle sector [2] Financial Performance - Lantu's gross margin has improved from 8.3% in 2022 to 21.0% in 2024, with a further increase to 21.3% in the first seven months of 2025, ranking second in the new energy vehicle industry [2] - The company achieved its first quarterly profit in Q4 2024 and has been profitable in the first seven months of 2025, making it the fastest new energy vehicle company to reach positive operating cash flow [2] Product Strategy - The Lantu Taishan model is positioned as a flagship SUV, featuring advanced technology in collaboration with Huawei, including the ADS 4 four-laser radar system and HarmonyOS cockpit, enhancing its competitiveness in the smart vehicle sector [3] - Lantu has established flagship products across three categories: sedans, SUVs, and MPVs, with the Taishan model targeting the 400,000 to 500,000 yuan market segment, which is crucial for emerging luxury brands [3] Market Positioning - Lantu aims to achieve a "volume and price rise" in the high-end market, competing against traditional luxury brands and emerging domestic luxury brands by focusing on product quality and integrating modern industrial civilization with traditional Chinese culture [4] - The company is confident in its high-end strategy, with continuous actions indicating its ambition to solidify its position as the leading high-end new energy brand among state-owned enterprises [4]

在实现销量稳健增长的同时，岚图汽车盈利能力同步跃升，毛利率由2022年的8.3%大幅提升至 2024年的21.0%，并在2025年前7个月进一步提升至21.3%，在新能源汽车行业内高居第二。同时，岚图 汽车在2024年第四季度首次实现单季度盈利，并已于2025年前7个月实现盈利，是行业内最快实现单季 度盈利、经营现金流转正最快的新能源车企。今年10月，岚图汽车已正式向香港联合交易所递交主板上 市申请，宣告企业资本化进程步入新阶段。 "5年5款车型，岚图不断争峰，完成了岚图全品类高端布局。"岚图汽车董事长、总经理卢放表 示，"今天随着岚图泰山的到来，我们也成为中国首个实现SUV、MPV、轿车全品类车型量产的高端新 能源汽车品牌。" 11月18日，以"争峰"为主题，岚图汽车在深圳正式发布其"新时代全尺寸旗舰SUV"——岚图泰山， 新车共推出Max版、Max+版、Ultra版、黑武士版四大版型，官方指导价为37.99万元-50.99万元。同 时，还公布了总价值4.8万元的上市权益。 "'争峰'，不是谁与争锋的锋，而是勇攀高峰的峰。这代表的是一种始终向上攀登的人生态度，也 是岚图汽车5年来坚守的初心和始终向上的行动。 ...

11月18日，岚图汽车在深圳国际会展中心召开以"争峰"为主题的新车发布会，正式发布新时代旗舰SUV——岚图泰山，新车共推出Max版、Max+版、Ultra 版、黑武士版四大版型，官方指导价为37.99万元-50.99万元。同时，还公布了总价值4.8万元的上市权益。 新时代旗舰大六座SUV 岚图泰山正式上市 Max 指导价 37.99 亮点配置 三腔空气悬架 华为乾崑智驾 ADS 4 华为鸿蒙座舱HarmonySpace5 800V+5C超充技术 Max+ 指导价 亮点配置 HUAWEI XPIXEL智慧投影大灯 中排右侧AI云舒座椅 双向16°后轮转向 3.5英寸中排超薄智控扶手屏 Ultra 指导价 亮点配置 华为乾崑智驾 ADS 4 四激光方案 光瀑格栅 智能调光隐私玻璃 限时下定享价值高达48,000元首销权益 | 定金膨胀礼 | 置换权益 | 豪华配置升级礼 | | --- | --- | --- | | 5,000元定金 | 任意乘用车型置换 | 1 免费升级价值20,000元智能感应电动门 2开通华为乾崑智驾ADS高阶功能包可享20,000元抵用券 | | 抵扣 | 可享 | | | 8,000元 ...

Core Insights - The launch of the LS9 marks a significant milestone for the company, entering the competitive high-end six-seat SUV market with a starting price of 326,900 yuan, achieving over 5,000 pre-orders within 25 minutes of its release [1][2] - The LS9 is positioned as a flagship model, showcasing the company's five years of development and the deep integration of resources from SAIC Group, enhancing its competitiveness in the high-end electric vehicle market [2][3] Company Strategy - The LS9's launch is part of SAIC Group's strategic focus on the high-growth segment of six-seat electric SUVs, leveraging decades of technological accumulation and cross-industry resource integration [2][4] - The company emphasizes its priority access to top-tier technologies, such as the Lingxi digital chassis and the Super Xiaoyao battery developed in collaboration with CATL, which enhance the vehicle's performance and efficiency [2][4] Market Positioning - The LS9 targets consumers at a life advancement stage, addressing the need for a vehicle that balances family comfort and personal driving enjoyment, thus solving the pain points of traditional models [3][5] - A recent survey indicates that 75% of six-seat SUV users seek both comfort for family travel and driving pleasure, highlighting the importance of user-centric design in the LS9 [3][4] Technological Innovation - The LS9 adopts a super range-extender technology, which is projected to capture a 28% market penetration in the high-end SUV segment by 2025, surpassing plug-in hybrid models [4][5] - The vehicle offers a 1,500 km electric driving experience with minimal performance degradation, even in high-altitude conditions, and achieves a 10% to 15% lower energy consumption compared to similar plug-in hybrid models [4][5] Brand Development - The successful launch of the LS9, following the L6 and LS6 models, signifies the brand's transition into a phase of significant achievements after five years of foundational work [5][6] - The company has chosen a path focused on core technological advancements rather than superficial feature competition, positioning itself as a strong contender in the electric vehicle market [6]