Group 1 - Qianli Technology has appointed Zhao Ming, former CEO of Honor, as a non-independent director of its sixth board and co-chairman, focusing on AI commercialization [1] - Zhao Ming previously led Honor to become the top smartphone brand in China from 2022 to 2023 and emphasized AI integration in operating systems during his tenure [1] - Qianli Technology is currently in a high-investment phase for its AI business and has not yet achieved scalable profitability [1] Group 2 - The mobile industry is seeing key managers transition into the smart automotive sector, indicating a shift in competition towards chips, operating systems, software ecosystems, and user experience [2] - Zhao Ming's involvement may accelerate Qianli Technology's path to profitability in its AI business and serve as a significant case study for the commercialization of AI technology [2]

Core Insights - Nissan Motor reported a 44% decline in third-quarter operating profit, amounting to 17.5 billion yen ($114.37 million) [1] - This performance is significantly lower than the average analyst estimate of an 81 billion yen loss and a 31.1 billion yen profit in the same quarter last year [1] Financial Performance - The operating profit of 17.5 billion yen represents a substantial decrease compared to the previous year's profit of 31.1 billion yen [1] - The decline in profit is attributed to intense competition in key markets, particularly the U.S. and China [1]

雷军特别强调，春节期间，小米汽车门店不打烊，有少量小米YU7现车，当天订单，最快当天提车。 2026年2月12日，小米创办人，董事长兼CEO雷军在社交媒体平台分享了小米YU7的最新销售数据。汽车之家数据显示，2026年1月，小米YU7销量达3.79万 台，位列全国乘用车零售销量排行榜第一。 | 7 | 星越L | 23815辆 | | --- | --- | --- | | 8 | 朗逸 | 23481辆 | | 9 | 途观L | 21330辆 | | 10 | 帕萨特 | 20799辆 | | 11 | 卡罗拉锐放 | 20188辆 | | 12 | 迈腾 | 19306辆 | | 13 | 星瑞 | 19027辆 | | 14 | 本田CR-V | 18900辆 | | 15 | 锋兰计 | 18629辆 | 据了解，小米YU7是小米汽车首款纯电中大型SUV，2025年6月发布，售价25.35-32.99万元。它基于800V碳化硅平台打造，后驱版CLTC续航835km，四驱 Max版零百加速3.23秒。车身尺寸4999×1996×1600mm，轴距3000mm，配无边框车门、隐藏式门把手。内饰有双零重力 ...

Core Viewpoint - The Ministry of Education has issued an opinion to deepen the reform of key elements in vocational education, focusing on cultivating skilled talents in artificial intelligence (AI) and low-altitude economy, which is beneficial for the transformation and upgrading of the automotive industry [3][4]. Group 1: Talent Development - The new policy emphasizes the establishment of new majors in emerging industries, particularly in AI and low-altitude economy, and implements a high-skilled talent cluster training plan, which is timely given the deep structural adjustments and rapid technological iterations in the automotive industry [4][5]. - The demand for AI and low-altitude economy skilled talents aligns with the transformation needs of the automotive industry towards electrification, intelligence, and connectivity, with a significant increase in the penetration rate of L2 and above assisted driving vehicles [5][6]. - The demand for algorithm engineers has surged by nearly 80% over the past two years, while the supply of qualified candidates remains insufficient, highlighting a critical talent shortage in the industry [5][6]. Group 2: Cost Reduction and Efficiency Improvement - AI technology is applied throughout the manufacturing process, enhancing efficiency and accuracy in quality control, which significantly reduces defect rates and improves product quality [6][7]. - In battery production, AI algorithms optimize production processes, leading to precise material ratios and intelligent equipment adjustments, thereby shortening production cycles and increasing efficiency [6][7]. Group 3: Industry Collaboration - The policy encourages the establishment of internship and training bases through school-enterprise cooperation, allowing educational institutions to adjust talent training programs based on actual production needs, facilitating seamless integration of graduates into the workforce [8][9]. - Companies are actively opening their production resources for collaborative training, enabling students to gain hands-on experience in real production environments, which enhances their skills and prepares them for industry demands [9][10]. Group 4: Future Growth Opportunities - The focus on AI and low-altitude economy talent cultivation not only supports the intelligent upgrade of the automotive industry but also opens new growth spaces in the field of flying cars, marking a significant shift towards comprehensive mobility service providers [10]. - The dual empowerment of electrification and intelligence, along with low-altitude integration, positions the automotive industry for high-quality development in the face of new industrial transformations [10].

Core Viewpoint - Nissan Motor reported an operating profit of 17.55 billion yen for the third quarter, contrasting with an estimated loss of 61.79 billion yen [1] Group 1 - Nissan's operating profit for the third quarter was 17.55 billion yen [1] - The company had previously forecasted a loss of 61.79 billion yen [1]

雷军今日引用汽车之家数据发文称，小米YU7今年1月份销量达37869台。春节期间门店不打烊，有少量 YU7现车，当天订单，最快当天提车。 | 2026年1月 · 全国 | | | | --- | --- | --- | | 乘用车零售销量排行榜 | | | | 11 | 小米YU7 | 37869辆 | | | 博越L | 34176辆 | | | 星愿 | 29007辆 | | 4 | 问界M7 | 26454辆 | | 5 | 速腾 | 25316辆 | | 6 | 轩逸 | 24209辆 | | | 星越L | 23815辆 | | 8 | 朗逸 | 23481辆 | | | 途观L | 21330辆 | | 10 | 帕萨特 | 20799辆 | | 11 | 卡罗拉锐放 | 20188辆 | | --- | --- | --- | | 12 | 迈腾 | 19306辆 | | 13 | 星瑞 | 19027辆 | | 14 | 本田CR-V | 18900辆 | | 15 | 锋兰达 | 18629辆 | | 16 | 蔚来ES8 | 17645辆 | | 17 | 凯美瑞 | 17426辆 | | ...

Core Viewpoint - In January, the retail sales of passenger cars in China reached 1.544 million units, representing a year-on-year decline of 13.9% [1][7]. Group 1: Market Performance - The January retail sales decline is part of a historical trend where January sales have shown significant fluctuations, with previous years experiencing similar declines [3][9]. - The penetration rate of new energy vehicles (NEVs) in the overall passenger car market was 38.6%, down 3 percentage points from the previous year [3][9]. - Among domestic retail sales, the penetration rate of NEVs for independent brands was 61.7%, while luxury brands had a penetration rate of 16.1%, and mainstream joint venture brands only reached 4.3% [3][9]. Group 2: New Energy Vehicle Sales - In January, the retail share of NEVs for independent brands was 60.1%, a decrease of 12 percentage points year-on-year, while the share for mainstream joint venture brands increased to 3.9%, up 2 percentage points [3][9]. - The new forces in the market, including brands like Xpeng, Leap Motor, and Xiaomi, saw their share increase by 10 percentage points year-on-year, reaching 31.2% [3][9]. - Tesla's market share fell to 3.1%, a decrease of 1.5 percentage points compared to the previous year [3][9]. Group 3: Export Performance - In January, NEV exports reached 286,000 units, marking a year-on-year increase of 103.6%, accounting for 49.6% of total passenger car exports, up 12.5 percentage points from the previous year [4][10]. - Pure electric vehicles constituted 65% of NEV exports, while A00 and A0 class pure electric vehicles made up 50% of pure electric exports [4][10]. - The growth of NEV exports is attributed to the increasing recognition of Chinese brands in international markets, despite some external challenges [4][10]. Group 4: Manufacturer Performance - Leading manufacturers in NEV exports for January included BYD (96,859 units), Tesla China (50,644 units), and Geely (32,117 units) [5][11]. - The overall performance of NEV manufacturers remained strong, with 16 companies achieving monthly wholesale sales exceeding 10,000 units, accounting for 90.3% of total NEV sales [6][12]. - BYD led the market with 205,518 units sold, followed by Geely (124,252 units) and Tesla China (69,129 units) [6][12]. Group 5: Market Outlook - The outlook for February indicates a potential decline in sales due to the shorter effective production and sales time caused by the extended Spring Festival holiday [7][13]. - The rising costs of raw materials, driven by increased demand for electric power storage, are putting pressure on manufacturers [7][13]. - The anticipated decrease in promotional capabilities for NEV manufacturers may lead to a cautious consumer sentiment, potentially suppressing normal car purchase demand in the short term [7][13].

Core Viewpoint - Italy's competition authority has initiated an investigation into Procter & Gamble for allegedly misleading advertisements regarding the Braun Skin i-Expert epilator, claiming it can keep users hair-free for two years, which the regulator deems exaggerated and inadequately demonstrated [1]. Company Summary - Procter & Gamble is facing scrutiny from Italy's competition authority over its advertising practices related to a body hair removal device [1]. - The specific product in question is the Braun Skin i-Expert epilator, which is claimed to provide long-lasting hair removal effects [1]. Regulatory Context - The investigation highlights the regulatory environment in Italy concerning consumer protection and advertising standards, particularly in the beauty and personal care sector [1].

Core Viewpoint - The report from Everbright Securities predicts that Xidi Intelligent Driving (03881) will reduce its Non-IFRS net loss to 76 million yuan in 2025, a year-on-year decrease of 39.8%, with expected Non-IFRS net profits of 75 million yuan and 357 million yuan in 2026 and 2027 respectively, highlighting the company's strong position in the autonomous mining truck sector and its technological advantages [1] Group 1: Company Overview - Xidi Intelligent Driving, established in 2017, focuses on providing autonomous driving technology and solutions for commercial vehicles, particularly in mining trucks and logistics vehicles, and is one of the first companies in China to achieve "no safety driver normal operation" for autonomous commercial vehicles [1] - The company is expected to see revenue and profit growth as the commercialization of autonomous mining trucks expands, with additional revenue potential from V2X and intelligent perception businesses as market demand increases [2] Group 2: Market Potential - According to Xidi Intelligent Driving's prospectus, the market size for autonomous mining truck solutions in China is projected to reach 1.9 billion yuan in 2024, with a total potential market size of 550 billion yuan, and is expected to grow to 39.6 billion yuan by 2030, representing a CAGR of 65.3% from 2024 to 2030 [2] - The penetration rate of autonomous mining trucks in mining transportation is expected to increase as the demand for intelligent mining solutions grows and technology matures, leading to an upgrade in market size and commercialization levels [2] Group 3: Competitive Advantages - Xidi Intelligent Driving possesses core advantages in technology, scene adaptation, and commercialization: 1. Technological differentiation with superior obstacle perception and positioning accuracy compared to competitors [3] 2. Strong scene integration capabilities with six core functions covering the entire process [3] 3. Rapid commercialization through a pure product sales model, allowing for quick conversion of technology into commercial success, which is expected to further solidify the company's competitive edge [3]

Market Overview - The market experienced narrow fluctuations today, with all three major indices closing higher, led by the ChiNext Index. The total market turnover reached 2.1 trillion, an increase of over 100 billion compared to the previous trading day, although most individual stocks declined [1] - Focused on AI, sectors such as computing power, AI applications, and liquid cooling showed varied performances. Notable gains were seen in hardware stocks related to optical modules and chips, with companies like Tianfu Communication and Taicheng Light reaching new highs [1] Key Developments - The State-owned Assets Supervision and Administration Commission held a meeting to deepen the "AI+" initiative, emphasizing the need to enhance effective investment in computing power and improve data governance capabilities [1] - AI application stocks rebounded in the afternoon, with leading company Liou Co. hitting the daily limit, while other stocks like Capital Online also saw significant gains [1] Sector Performance - Small metal concept stocks remained active, with companies like Zhangyuan Tungsten and Xianglu Tungsten hitting the daily limit, while consumer sectors such as retail and food & beverage faced declines, with Hai Xin Food hitting the daily limit down [1] - Banking stocks underperformed, with Chongqing Bank and Xiamen Bank experiencing notable declines [2] Stock Movements - In terms of stock performance, 2,108 stocks rose while 3,280 fell, with 70 stocks hitting the daily limit up and 23 hitting the limit down. The Shanghai Composite Index rose by 0.05% to 4,134.02 points, while the Shenzhen Component Index increased by 0.86% to 14,283.00 points [2] Fund Flow - Major funds focused on sectors such as electric grid equipment, semiconductors, and general equipment, with net inflows seen in stocks like Yingweike and Liou Co. [3] Industry Insights - The China Passenger Car Association reported that in January, the export of new energy passenger vehicles reached 286,000 units, a year-on-year increase of 103.6%, accounting for 49.6% of total passenger car exports [4] - The State Administration for Market Regulation released guidelines to regulate pricing behaviors in the automotive industry, aiming to address issues like false promotions and ensure fair pricing practices [5] - The National Energy Administration emphasized the acceleration of AI integration into traditional industries and the proactive development of future energy sectors like hydrogen and nuclear fusion [6] - By 2025, China's new wind and solar power installations are expected to exceed 430 million kilowatts, marking a 22% year-on-year growth and surpassing thermal power for the first time [7] Market Outlook - According to Caixin Securities, as the Spring Festival approaches, market activity is expected to decline, leading to a potential short-term reduction in new capital inflows. However, structural opportunities may arise from concentrated positive events in certain sectors [8] - Dongguan Securities noted that with the upcoming holiday, investor sentiment is becoming more cautious, suggesting that the A-share market may enter a phase of reduced trading volume [9] - CITIC Securities projected that commodities will remain a preferred investment direction in 2026, driven by factors such as risk aversion and fundamental improvements [10]