Core Insights - Hongmeng Zhixing has achieved a significant milestone by surpassing 1 million cumulative deliveries in just 43 months, marking the fastest record for a new force brand in the automotive industry [2] - The average transaction price in October was 390,000 yuan, leading the high-end automotive market in China [2] - The flagship model, AITO M9, has also set a record with over 250,000 cumulative deliveries in 21 months [2] Brand Development - Hongmeng Zhixing has established a collaborative development framework with five brands: AITO, LUXEED, Stelato, MAEXTRO, and SAIC, covering a price range from 150,000 to 1.5 million yuan to meet diverse consumer needs [2][3] - AITO focuses on the mid-to-high-end family market, with a projected sales target of over 380,000 units in 2024, and is currently the only brand achieving scale profitability [2][3] - LUXEED, in partnership with Chery, targets the mid-range sedan and SUV market, featuring advanced technology such as an 800V high-voltage platform and impressive electric range [3] - Stelato, developed with BAIC, aims at the high-end business segment, leveraging Huawei's smart cockpit technology to enhance the business travel experience [3] - MAEXTRO, in collaboration with Jianghuai, is positioned as an ultra-luxury flagship brand, targeting the million-yuan market with strong initial demand [3] - SAIC, in partnership with SAIC Motor, focuses on the young consumer segment with high cost-performance vehicles, featuring advanced driving systems at accessible price points [3] Technological Support - The success of Hongmeng Zhixing's vehicle deliveries is underpinned by Huawei's comprehensive self-developed technology, including the HUAWEI ADS 4.0 intelligent driving system and advanced smart cockpit features [4] - The product line spans from entry-level to flagship models, ensuring a full coverage of technological advancements in energy replenishment and user experience [4]

Core Insights - Hongmeng Zhixing launched three new car models, including the Wanjie M9, M7, and the first SUV, Shangjie H5, during its autumn product launch event in Shenzhen [1][2] Group 1: Wanjie M9 - The Wanjie M9 has been a sales champion in the 500,000 yuan and above segment, with cumulative deliveries exceeding 238,000 units [2][3] - The newly launched Wanjie M9 in "Silver Purple" color features advanced smart welcoming lights and a new four-seat configuration, priced at 559,800 yuan for the range-extended version and 589,800 yuan for the pure electric version [2][3] - The model has maintained its position as the best-selling vehicle in its price range for 17 consecutive months [2] Group 2: Wanjie M7 - The all-new Wanjie M7 was officially launched with a starting price of 279,800 yuan for the range-extended version and 319,800 yuan for the pure electric version [3][4] - The Wanjie M7 has undergone significant upgrades in design, interior, configuration, and power, with over 60 standard features including advanced safety and driving assistance systems [4] - Cumulative pre-orders for the Wanjie M7 have surpassed 230,000 units, indicating strong market interest [4] Group 3: Shangjie H5 - The Shangjie H5, the first model from the Shangjie brand developed in collaboration with SAIC and Huawei, is priced between 159,800 and 199,800 yuan, with over 160,000 pre-orders [6][7] - The vehicle features a smart cockpit and advanced driving assistance systems, with the Max version accounting for 75% of pre-orders [6][7] - Analysts predict that the Shangjie H5 could become a best-selling model in the 150,000 to 200,000 yuan segment, which is expected to account for 20% of total passenger car sales in China by 2024 [7]