Core Insights - The new Wanjie M7 has opened for pre-order on September 5, with three versions available: Pro+, Max, and Ultra, priced at 288,800 yuan, 328,000 yuan, and 348,000 yuan for the range-extended versions, and 328,000 yuan, 349,800 yuan, and 369,800 yuan for the pure electric versions [1] - The pre-order saw significant demand, with over 20,000 small orders within 10 minutes and exceeding 100,000 small orders in just one hour [1] Group 1 - The Wanjie M7 was initially launched in July 2022 but struggled with sales, often not exceeding 1,000 units per month [7] - The updated Wanjie M7 was released on September 12, 2023, featuring improvements in body structure, chassis materials, suspension, and range, leading to a resurgence in sales [7] - In 2024, Wanjie brand delivered 389,000 vehicles, with the Wanjie M7 contributing 198,000 units, accounting for over half of total sales [7] Group 2 - Sales of the Wanjie M7 have declined in 2025, with cumulative sales of 38,033 units in the first seven months, averaging around 5,400 units per month [7] - The Wanjie M7 faces intense competition in the 250,000 to 350,000 yuan price range from models like Li Auto L6, L7, Tesla Model Y, and other emerging products [7][8] - Internal competition from Huawei's other SUV, the Zhijie R7, priced at 250,000 yuan, has also impacted Wanjie M7's sales [8] Group 3 - The new Wanjie M7 adopts the latest design language and has dimensions of 5080mm/1999mm/1780mm with a wheelbase of 3030mm, offering a pure electric version with a 100kWh battery and a range exceeding 700 kilometers [8] - Analysts believe that the new Wanjie M7's price increase is justified due to its enhanced product capabilities, and it strategically positions itself against the Zhijie R7 [9] - Consumer interest in the new Wanjie M7 is reportedly high, with many potential buyers waiting for the final pricing announcement on September 23 [9][10]

每经记者｜孙磊 每经编辑｜何小桃 裴健如 9月5日，全新问界M7开启预订，新车包含Pro+、Max和Ultra三种版本，增程版车型预售价分别为28.88万元、32.8万元和34.8万元，纯电版车型预售价为 32.8万元、34.98万元和36.98万元。 华为常务董事、终端BG董事长余承东在社交平台上直言："准确点（来说），（是）43分钟突破10万辆。新M7卖爆了！远超预期，超乎想象！" 全新问界M7预订开启后，华为商城和鸿蒙智行小程序一度崩溃，无法加载全新问界M7的界面。官方数据显示，全新问界M7开启预订仅10分钟，小订就 已突破2万辆；开启预订1小时后，小订突破10万辆。 图片来源：企业供图 需要注意的是，全新问界M7的预售价为28.88万元，较现款车型24.98万元的起售价高出近4万元，尽管最终售价要比预售价有所下调，但大概率会比现款 车型的起售价要高。 对于这种策略，有分析人士认为，一方面，全新问界M7的产品力较现款车型提升较多，售价上调符合常理；另一方面，这样的价格策略不仅可以与智界 R7（24.8万元起售）在价格方面形成区隔，避免"同门互掐"，又能给未来可能登场的问界M6留出定价空档，提前布好"棋局 ...

出品丨虎嗅汽车组 作者丨李赓 头图丨视觉中国 隐藏式门把手，是新能源汽车崛起后，一个绕不开的争议点，宛如一枚硬币的两面：一面是设计师眼中科技与 美学的极致表达，另一面则是用户口中实用性与安全性的持续争议。 昨天 （9月4号） ，媒体"明镜Pro" 透露 ，有车企研发人士向其爆料称，监管部门正在酝酿汽车全行业禁用全 隐藏式门把手。后续"将在法规中明确禁止全隐藏式门把手，允许半隐藏及传统门把手，且必须带有机械冗 余"。 其进一步了解到的信息包括： 1. 本月将完成门把手强制性标准草案讨论； 2. 最终目标对全隐藏式门把手直接一刀切禁止使用； 考虑到今年5月，工信部就曾公开征集对《汽车车门把手安全技术要求》强制性国家标准制修订计划项目的意 见，可以想见"隐藏式门把手"的监管落地，已经进入了"迟早要落地"的阶段。本期车圈脉动VOL.11，我们就来 简单解析一下这一争议点的新进展。 风靡之下，争议何来？ 3. 给一年的过渡期，2027年7月开始正式执行； 4. 还将会对于非标工况（包括各种事故场景）自动落锁解除进行讨论。 虎嗅汽车也向行业中求证了这一信息的真实性，一新势力车企向我们表示：早在今年7月，就曾召开过相关的 ...

每经AI快讯，奥海科技（SZ 002993，收盘价：45.65元）9月5日晚间发布公告称，吉安市奥悦企业投资 （有限合伙）系东莞市奥海科技股份有限公司首次公开发行股票上市前设立的员工持股平台，持有公司 股份约1239万股，占公司当前股份总数的4.49%。公司于近日收到吉安奥悦出具的《股份减持计划的告 知函》。吉安奥悦计划自本公告披露之日起15个交易日后的3个月内，以集中竞价交易或大宗交易方式 合计减持公司股份累计不超过700万股（含），占公司当前股份总数的2.57%。 2025年1至6月份，奥海科技的营业收入构成为：计算机和通信和其他电子设备制造业占比88.13%，新 能源汽车行业占比11.87%。 （记者 张喜威） 截至发稿，奥海科技市值为126亿元。 每经头条（nbdtoutiao）——烤肉店里洗头、西湖边开面包店、进军高端酒店……海底捞"不务正业"背 后：子品牌存活率不足50% ...

Core Insights - The article discusses the challenges faced by Li Auto in the competitive electric vehicle market, particularly highlighting its declining sales and the impact of new competitors [1][2] - It raises questions about Li Auto's strategic direction, whether to focus on maintaining current market share or to aggressively pursue growth [17][18] Group 1: Market Performance - In August, Li Auto delivered 28,529 vehicles, which is a decline for three consecutive months, falling behind competitors like NIO, Xpeng, and others [1][3] - Despite a 7.8% increase in delivery volume, Li Auto's revenue decreased by 2.0% year-on-year to 56.172 billion RMB, with a slight net profit increase of 2.8% to 1.743 billion RMB [1][11] - The company is projected to face a significant drop in sales for Q3, with estimates of 90,000 to 95,000 units, representing a year-on-year decrease of 37.8% to 41.1% [13] Group 2: Product Strategy - The launch of the Li i8, a family-oriented six-seat SUV, has not met expectations, leading to a rapid price adjustment shortly after its release [4][5] - The i8 competes directly with NIO's L90, with both vehicles targeting family buyers, but the i8's pricing strategy has been criticized [6][8] - Li Auto's management has indicated a shift towards focusing on fewer, stronger SKUs to enhance product value and user experience [21][22] Group 3: Financial Health - Li Auto reported a cash outflow of 47.4 billion RMB from operating activities in the first half of 2025, with a significant investment cash outflow of 111.9 billion RMB [14][15] - The company maintains a strong cash position with 106.9 billion RMB available, which is crucial for navigating current market challenges [14] Group 4: Strategic Initiatives - Li Auto is undergoing organizational changes to improve sales efficiency and customer experience, including restructuring its sales team and enhancing training programs [16] - The company is also exploring international markets, with plans to establish R&D centers in Germany and the U.S., targeting regions like the Middle East and Europe [24][25]

Core Viewpoint - NIO has reported positive performance indicators for Q2, indicating a potential turnaround in its business trajectory, with CEO Li Bin expressing confidence in achieving profitability in Q4 2023 [1][2]. Financial Performance - In Q2, NIO achieved revenue of 19.01 billion yuan, a quarter-on-quarter increase of 57.9%, and a net loss reduction of over 30% [1]. - The cumulative delivery for Q2 was 72,000 vehicles, representing a year-on-year growth of 25.6% and a quarter-on-quarter growth of 71.2% [3]. - For Q3, NIO expects deliveries between 87,000 and 91,000 vehicles, with revenue projected between 21.81 billion and 22.88 billion yuan, reflecting a year-on-year growth of approximately 16.8% to 22.5% [3]. Strategic Initiatives - NIO is implementing internal reforms to enhance efficiency, focusing on return on investment (ROI) and prioritizing projects that yield better financial returns [4]. - The company is committed to a multi-brand strategy, with NIO, Ladao, and Firefly brands working collaboratively to optimize resources and reduce costs [8][9]. Product Development - NIO continues to focus exclusively on pure electric vehicles, distinguishing itself from competitors who have shifted to hybrid or range-extended models [5][6]. - The recently launched Ladao L90 and ES8 models feature a large front trunk, enhancing usability for family-oriented consumers [5][6]. Market Trends - The sales of pure electric vehicles have increased by 35.2% from January to July, while range-extended models saw a growth of only 12.1%, indicating a resurgence in consumer preference for pure electric vehicles [6][7]. - NIO's strategy includes maintaining a competitive edge through continuous innovation in electric vehicle technology and charging infrastructure [6][7]. Future Outlook - NIO aims to achieve an average monthly delivery target of 50,000 vehicles in Q4, totaling 150,000 vehicles for the quarter, with a gross margin target of 16% to 17% [3][4]. - The company plans to reduce quarterly R&D spending from 3 billion yuan to between 2 billion and 2.5 billion yuan while ensuring long-term competitiveness in core technologies [9].

Core Viewpoint - NIO has shown significant improvement in its second-quarter performance, indicating a potential turnaround in its business trajectory, with expectations of achieving profitability in the fourth quarter of this year [2][3][4]. Financial Performance - In Q2, NIO reported revenue of 19.01 billion yuan, a quarter-on-quarter increase of 57.9%, and a net loss reduction of over 30% [2][3]. - The company delivered 72,000 vehicles in Q2, representing a year-on-year growth of 25.6% and a quarter-on-quarter growth of 71.2% [6]. - For Q3, NIO anticipates deliveries between 87,000 and 91,000 vehicles, with revenue projected between 21.81 billion and 22.88 billion yuan, reflecting a year-on-year growth of approximately 16.8% to 22.5% [6][8]. Strategic Initiatives - NIO is focusing on internal reforms to enhance efficiency, implementing a "basic operating unit" system and emphasizing ROI (return on investment) assessments [8]. - The company aims to achieve a gross margin of 16% to 17% in Q4, driven by increased sales volume and cost reductions through economies of scale [8]. Product Development and Market Position - NIO continues to prioritize pure electric vehicles, launching new models such as the Lido L90 and ES8, which feature a large front trunk designed for family users [10][12]. - The company has maintained a commitment to pure electric technology, contrasting with competitors who have shifted to hybrid or range-extended models [10][13]. Brand Strategy - NIO has established a multi-brand strategy with NIO, Lido, and Firefly, which allows for resource sharing and cost reduction across different vehicle lines [17][18]. - The company plans to reduce quarterly R&D spending from 3 billion yuan to between 2 billion and 2.5 billion yuan while maintaining competitiveness in core technologies [18].

Core Viewpoint - The 2025 World Intelligent Industry Expo in Chongqing showcased the Wanjie M9, a flagship SUV representing China's advancements in intelligent connected vehicles, highlighting the country's strength in the automotive sector during the smart era [1][11]. Group 1: Product Features - The Wanjie M9 features a HarmonyOS 4 smart cockpit with seamless multi-screen interaction and a 32-inch retractable projection screen, transforming the interior into a private cinema [3]. - It includes an AR-HUD system that integrates lane-level navigation with real-world visuals, enhancing the driving experience with a 75-inch display for clear information [3]. - The vehicle is equipped with HUAWEI ADS 4, featuring 36 perception hardware units, including the industry's highest 192-line laser radar, ensuring comprehensive and all-weather sensing capabilities [5]. Group 2: Performance and Safety - The Wanjie M9 boasts a minimum turning radius of 5.8 meters, making it easier to navigate urban environments, and features an all-aluminum chassis for improved handling and comfort [5]. - It has achieved a G+ rating in three categories during the C-NCAP crash tests, ensuring high safety standards with 80% aluminum content and nine airbags [5]. - The vehicle has sold over 230,000 units in 17 months, maintaining its position as the sales champion in the 500,000-level luxury SUV segment [5]. Group 3: Industry Recognition - The Wanjie M9 received the highest Net Promoter Score (NPS) in the 2025 semi-annual New Energy Vehicle Brand Health Research, indicating high consumer satisfaction [7]. - It won multiple awards, including "Extreme Heat Healthy Car" and "Extreme Heat Quality Car," showcasing its performance in extreme conditions [7]. Group 4: Manufacturing and Service Excellence - The success of the Wanjie M9 is attributed to a robust ecosystem that integrates R&D, production, supply, sales, and service, enhancing production efficiency and product quality [8]. - The "factory within a factory" model for battery production ensures synchronized development and quality control, providing reliable performance for the Wanjie M9 [10]. - The company emphasizes user-centric services, offering comprehensive roadside assistance and 24-hour mobile service to enhance customer experience [10]. Group 5: Strategic Implications - The Wanjie M9 symbolizes China's transition from following to leading in the intelligent connected vehicle sector, representing a significant leap in the luxury SUV market [11]. - With accelerated global market expansion, the Wanjie M9 is positioned to showcase Chinese manufacturing prowess and contribute to the global automotive industry's evolution [11].

8月31日，星期天，港交所罕见加班发布公告：新迎来5家公司递表，其中1家公司为保密专线申报并闪 电通过聆讯，是已在美股上市的激光雷达明星企业禾赛科技，其递表和通过聆讯同一天对外公告。截止 8月31日，港股IPO最新排队数234家，其中52家为A股优质上市公司拟分拆香港上市。 今年前8月，港股IPO募资超1300亿元，同比增6倍，勇夺全球交易所之冠。IPO上市58家，11家为A股上 市公司香港再上市，包括宁德时代等巨头。 港股IPO火爆，中资投行正闪亮崛起：保荐数量上超过外资投行；独家保荐从无到有，从有到多；在中 国资产赴港上市发行定价上展露锋芒。 一、港股IPO募资额前8月全球第一！中资投行闪亮崛起 2025年8月20日，国内半导体碳化硅衬底龙头企业天岳先进H股在香港上市，这是今年第11家A股公司在 香港成功上市。中金、中信联席保荐。 中资投行今年在香港异军突起，成为港股 IPO 的新锐力量。前8月上市58家，中金、中信、华泰名列前 三，超越外资投行占据前三位置。中金以21家领跑：港股IPO前5大项目中金保荐3单，排名第一，前7 月16单中有11单承销比例超过了50%。 中资投行在港股IPO异军突起，不仅体现 ...

法律意见 北京德恒律师事务所 关于北汽蓝谷新能源科技股份有限公司 北京市西城区金融街 19 号富凯大厦 B 座 12 层 电话:010-52682888 传真:010-52682999 邮编:100033 北京德恒律师事务所 关于北汽蓝谷新能源科技股份有限公司 北京德恒律师事务所 关于北汽蓝谷新能源科技股份有限公司 法律意见 德恒 01G20250023-03 号 致：北汽蓝谷新能源科技股份有限公司 北汽蓝谷新能源科技股份有限公司（以下简称"公司"）2025 年第二次临 时股东大会（以下简称"本次会议"）于 2025 年 9 月 5 日（星期五）召开。北 京德恒律师事务所（以下简称"德恒"）受公司委托，指派吴莲花律师、赵亮亮 律师（以下简称"德恒律师"），根据《中华人民共和国证券法》 （以下简称"《证 券法》"）、《中华人民共和国公司法》（以下简称"《公司法》"）、中国证 券监督管理委员会《上市公司股东会规则》（以下简称"《股东会规则》"）、 《北汽蓝谷新能源科技股份有限公司章程》（以下简称"《公司章程》"）的规 定，就本次会议的召集、召开程序、现场出席会议人员资格、表决程序等相关事 项进行见证，并发表法律意 ...