● 本报记者 王舒嫄 连润 在第八届中国国际进口博览会展馆内，体型颇大的"进博号"轮船模型颇为吸睛，透过模型的"舷窗"可以 看到多个首发医疗产品：全程无针暴露的静脉留置针，可以降低患者术后疼痛的疝修补补片…… 11月4日，中国证券报记者提前进入进博会展馆实探发现，医药、汽车等多个领域的最新"黑科技"产品 即将展出。本届进博会吸引了155个国家、地区和国际组织参与，4108家境外企业参展，整体展览面积 超过43万平方米，规模再创新高，多项具有代表性的首发新产品、新技术、新服务亮相，为全球"尖 货"进入中国市场搭建了"首秀场"。 首发首秀产品亮相 参展商变投资方 商务部副部长盛秋平此前表示，进博会是近距离观察中国高水平对外开放的"大舞台"，也是沉浸式感受 中国超大规模市场优势的"体验区"。 进博会不仅让外国企业、商品加速进入中国，更成功吸引了大批进博会参展商变身投资商。 在"进博号"旁，碧迪医疗大中华区企业品牌公关及数智传播总监李莎向记者介绍了"舷窗"内的部分产 品：Ferghana防针刺伤型静脉留置针通过全程无针暴露的一体化设计，有效降低针刺伤风险，强化医护 人员职业安全；新款3DMax疝修补补片采用全球首创3 ...

Core Viewpoint - The article highlights the transformation and growth of Seres, a luxury electric vehicle manufacturer, emphasizing its strategic partnerships and technological advancements in the automotive industry [2][5][6]. Company Overview - Seres, founded 39 years ago, has undergone three major transformations, evolving from a spring manufacturer to a key player in the high-end smart electric vehicle market [3][5]. - The name "Seres" originates from the Greek word for "Silk Country," symbolizing luxury and the brand's ambition to create a unique path for Chinese automotive brands [2]. Business Development - The first transformation involved breaking foreign market monopolies in the auto parts sector, achieving over 90% market share in specific segments [3]. - The second transformation occurred through a partnership with Dongfeng Motor, leading to the establishment of Dongfeng Xiaokang and entry into complete vehicle manufacturing [5]. - The third transformation began around 2016, focusing on new energy technology and smart connected vehicle solutions, with significant R&D efforts in Silicon Valley [5][6]. Strategic Partnerships - In 2021, Seres partnered with Huawei, launching the AITO brand, which has rapidly gained market traction, with the M9 model delivering over 250,000 units in 21 months and leading the luxury car market in China [6][7]. - The collaboration with Huawei is described as a mutually beneficial relationship that capitalizes on both companies' strengths, marking a significant cross-industry integration [6]. Financial Performance - For the first three quarters of 2025, Seres reported a net profit of 5.312 billion yuan, a year-on-year increase of 31.56% [6]. - The cumulative delivery of AITO models has surpassed 800,000 units, with the M9 model being the best-selling luxury vehicle in its price segment [6][7]. Industry Position - Seres has been recognized as the fastest-growing company in the 2025 Fortune China 500 list, climbing 270 places to rank 190 [7]. - The brand has achieved the highest confidence index in the automotive sector for the first half of 2025, with the M9 model leading in net promoter score [7]. Technological Innovation - Seres has established a highly automated and intelligent manufacturing facility, positioning itself as a global benchmark in smart factories [8]. - The company is actively pursuing advancements in artificial intelligence and smart technology, emphasizing the necessity of innovation in the automotive industry [9]. Future Outlook - Seres aims to solidify its position in the luxury vehicle segment by 2025, focusing on the integration of smart electric vehicles and digital technologies [9]. - The company plans to continue leveraging cross-industry collaborations and technological innovations to enhance safety and sustainability in the automotive sector [9].

Core Insights - The 138th China Import and Export Fair (Canton Fair) showcased a significant increase in "new content" and "intelligent manufacturing," reflecting the ongoing optimization of China's foreign trade structure and the accelerated growth of new productive forces [1] Group 1: Intelligent and Green Innovation - High "intelligent content" and sustainable green products have become focal points for global buyers, with Zhejiang enterprises attracting attention for their eco-friendly products made from recycled materials [2] - Dongfeng Liuzhou Automobile's self-developed intelligent configurations and leading aerodynamic performance contributed to a 20% year-on-year increase in export volume for the first three quarters [2] - The transition from "Made in China" to "Created in China" is evident, with advancements in technology and quality standards reaching world-class levels [2] Group 2: Strength of Chinese Products - Turkish buyers noted a visible improvement in the quality of Chinese products, which has shifted their perception from merely cost-effective to high-quality offerings [3] - The robust vitality of the Chinese market and its advanced supply chain capabilities are enhancing procurement visions for global buyers [3] - Participation in the Canton Fair has led to millions of dollars in potential orders and valuable partnerships, facilitating industry upgrades and supply chain optimization [3] Group 3: Traditional and Emerging Markets - Approximately 26% of electromechanical enterprises at the fair reported acquiring new customers and orders, with 36.9% optimistic about export performance in Q1 2026 [4] - Traditional markets like Europe and the U.S. remain core profit sources for Chinese foreign trade enterprises, with significant orders coming from these regions [4] - Emerging markets, particularly those involved in the Belt and Road Initiative, showed vibrant growth, with contracts signed for high-end products to fill market gaps in North Africa [4]

Core Insights - Sales of U.S. light vehicles experienced a decline in October due to the expiration of federal government subsidies, which negatively impacted demand for battery-powered electric cars [1] - The easing labor market and potential price increases from tariffs may further restrict any recovery in vehicle sales for the remainder of the year [1] Industry Summary - The expiration of subsidies has led to a decrease in demand for electric vehicles, indicating a potential shift in consumer purchasing behavior [1] - The labor market conditions are showing signs of easing, which could affect consumer confidence and spending in the automotive sector [1] - Anticipated higher prices resulting from tariffs may pose additional challenges for the automotive industry, limiting sales growth [1]

Core Viewpoint - Tesla is facing lawsuits and investigations in the U.S. due to safety concerns related to its hidden door handle design, which may have contributed to a fatal accident where passengers were trapped in a burning vehicle [1][5]. Group 1: Lawsuit Details - A lawsuit was filed on October 31 in Wisconsin regarding a fatal accident involving a Tesla Model S, where five passengers died after being trapped in the vehicle during a fire [2][3]. - The lawsuit claims that the electronic door locking system failed after the collision, preventing the passengers from escaping [3]. - The plaintiffs argue that Tesla was aware of the potential risks associated with its design choices but failed to implement known safety practices [3][4]. Group 2: Regulatory Investigations - The National Highway Traffic Safety Administration (NHTSA) has initiated an investigation into Tesla's hidden door handle design following multiple complaints from owners about the door handles failing due to low-voltage battery issues [6][7]. - NHTSA has received 16 complaints regarding the 2021 Tesla Model Y, indicating that the door handles can become inoperative after a collision [6]. - Tesla is required to submit records related to the door system design and customer complaints by December 10, with potential fines for non-compliance [7]. Group 3: Industry Response - Tesla's design chief has indicated that the company plans to change the door handle design in response to the safety concerns raised [8]. - Competitors, including Rivian, are also reconsidering their hidden door handle designs, emphasizing that functionality should take precedence over aesthetics based on customer feedback [10].

Group 1 - The resumption of direct flights between India and China marks a significant step towards improving bilateral relations, although challenges remain regarding visa and investment restrictions [1][2][4] - Prior to the 2020 conflict, air traffic between the two countries was robust, with nearly 890,000 passengers in 2019, and an additional 1.2 million using third-country transfers [4] - Despite the resumption of direct flights, the number of Indian students in China has drastically decreased from 200,000 in 2019 to only 5,000 in 2024 due to tightened visa policies [6] Group 2 - Indian companies are facing challenges due to government-imposed visa restrictions, which hinder their ability to bring in Chinese technicians for equipment maintenance and installation [5][6] - There is a growing sentiment among Indian analysts that Chinese investment could help reduce India's $99.2 billion trade deficit and boost local manufacturing [6] - The relationship between India and China is influenced by broader geopolitical dynamics, particularly the evolving ties between India and the United States [5][6]

Core Viewpoint - SAIC Motor Corporation has shown a recovery in its performance due to joint ventures, but the uncertainty surrounding its transition is heightened by the underperformance of its new energy brands like IM and Hongqi [1][11]. Financial Performance - In Q3 2025, SAIC reported a revenue of 169.4 billion yuan, a year-on-year increase of 16.2%, and a net profit attributable to shareholders of 2.08 billion yuan, surging 644.9% [3]. - For the first three quarters, total revenue reached 468.99 billion yuan, with a net profit of 8.101 billion yuan and a net cash flow from operating activities of 31.94 billion yuan [3]. - The gross margin for Q3 was 8.99%, up 0.50 percentage points year-on-year, while the net margin improved to 2.21%, an increase of 1.51 percentage points compared to the previous year [4]. Sales Performance - In Q3, SAIC sold 1.141 million vehicles, a year-on-year increase of 38.7%, with SAIC-GM Wuling leading sales at 404,400 units, a 49.77% increase from the previous year [7]. - The sales performance varied significantly among different brands, with SAIC-GM achieving a remarkable growth of 156.35% [7][8]. - IM's sales were only 23,500 units in Q3, representing a mere 2.06% of total sales, indicating a struggle to establish a foothold in the market [8][9]. Strategic Developments - SAIC is expanding its partnerships to enhance its smart vehicle capabilities, collaborating with OPPO and Huawei [11]. - The launch of the Hongqi brand's H5 model saw significant pre-order interest, with 160,000 units ordered, but actual sales fell short of expectations, achieving only around 10,000 units in the first month [11]. Challenges and Outlook - Despite the recovery in sales, the performance of new energy brands like IM and Hongqi remains uncertain, contributing to the overall risk in SAIC's transition strategy [1][11].

Group 1 - New BYD Summer launched with a price range of 206,800 to 269,800 yuan, featuring four models and enhanced electric range and energy efficiency [4][12] - New Mazda EZ-6 launched with a price range of 119,800 to 162,800 yuan, offering both pure electric and range-extended versions with a total of 11 models [13][20] - New Zhiji LS9 available for pre-sale with a price range of 346,900 to 376,900 yuan, featuring advanced design and high-end configurations [21][29] - New Aion i60 available for pre-sale with a price range of 119,800 to 126,800 yuan, offering both range-extended and pure electric versions [30][39] - Geely acquires 26.4% stake in Renault Brazil, enhancing its market presence in Latin America [40][42] Group 2 - BYD Summer features fifth-generation DM hybrid technology, with a 110kW 1.5T engine and 200kW motor, offering a pure electric range of 100/218 km [10][12] - Mazda EZ-6's range-extended version includes a 70kW 1.5L range extender and offers a maximum comprehensive range of 1301 km [18][20] - Zhiji LS9 utilizes a "Star" super range-extending system with a maximum power of 390kW and a 0-100 km/h acceleration time of 4.9 seconds [27][29] - Aion i60's range-extended version features a 74kW 1.5L range extender and a comprehensive range of 1240 km [37][39] - Geely's partnership with Renault allows shared access to production capacity and market networks in Brazil, facilitating the expansion of both companies in the electric vehicle market [40][42]

关注 「电动车公社」 和我们一起重新思考汽车 提到奔驰，很多人都会想起那句话，"愿三叉星辉照亮您的事业与前程"。 确实，作为"汽车发明者"的奔驰，在百年历史中为汽车行业带来了太多的先进技术和经典车型，也因此成为了豪华品牌中的领军人物。 但在 100 年后的今天，在电动化和智能化时代的冲击下，它却从"被仰望对象"变成了"被对比对象"。 甚至还有人半开玩笑地吐嘈，从 2019 年奔驰 EQC 正式问世到今天 6 年时间过去了，奔驰的电动车到底站起来了吗？ 今天，我们就借着这个机会，用前段时间预售25.9万元起的奔驰 CLA 纯电来验验货，看看它到底是徒有其表，还是真有内涵。 （老规矩，文字版给大家附在后面了） 关注电动车公社 视频号 更多精彩视频不错过 戳开看视频 我们先从用户最看中的智能化表现开始聊起。 CLA纯电的 智能座舱用上了 MB.OS，是中国研发团队主导设计的系统。它 从以往"你要学习车机如何使用"的工程师思维，变成了"车要适应用户习惯"的用户 思维。 嗯……这很奔驰 。 至于在硬件层面，这次CLA纯电也跟上了主流，单颗 Orin-X 芯片、 254TOPS 算力，应对高速场景已经非常成熟了。从郝人的 ...

Core Insights - SAIC Motor Corporation has shown a significant recovery in Q3 2025, with a revenue of 169.4 billion yuan, a year-on-year increase of 16.2%, and a net profit of 2.08 billion yuan, surging 644.9% compared to the previous year [3] - The company's performance is heavily influenced by a low base from the previous year, raising questions about the sustainability of this turnaround [3][9] Financial Performance - In the first three quarters, SAIC reported total revenue of 468.99 billion yuan and a net profit of 8.101 billion yuan, with a cash flow from operating activities of 31.94 billion yuan [3] - The gross margin for Q3 was 8.99%, up 0.50 percentage points year-on-year, while the net margin improved to 2.21%, an increase of 1.51 percentage points from the previous year [3] - The company reduced its operating expenses in Q3 to 40.481 billion yuan, a decrease of 59.67% year-on-year, with sales expenses down by 22.71% [3] Sales Performance - SAIC's total vehicle sales in Q3 reached 1.141 million units, a year-on-year increase of 38.7% [6] - The breakdown of sales by brand shows significant variation, with SAIC-GM-Wuling leading at 404,400 units, a 49.77% increase from the previous year [5][6] - SAIC-GM's sales grew by 156.35% to 135,600 units, while SAIC Volkswagen's growth was minimal at 0.10% [7][8] Brand Performance - The performance of various sub-brands within SAIC is uneven, with some brands showing strong growth while others remain stagnant [4][8] - The high-end electric vehicle brand, Zhiji, sold only 23,500 units in Q3, falling short of its annual target of 100,000 units [8][9] - Despite high pre-sale orders for the new H5 model from the joint venture with Huawei, actual sales have not met expectations, indicating challenges in converting interest into sales [9] Market Dynamics - The overall market for SAIC is characterized by a mix of recovery and ongoing challenges, particularly in the electric vehicle segment where brands like Zhiji and Shangjie have yet to establish a strong foothold [9]