Group 1 - The core objective of GAC Group is to achieve overseas sales targets of "ensuring 250,000 units and striving for 300,000 units" by 2026, with plans for the Asia-Pacific market to exceed 100,000 units and the European market to reach 100,000-150,000 units within 1-3 years [1] - In January, GAC Group's overall sales reached 116,600 units, representing a year-on-year increase of 18.47%; self-owned brand sales exceeded 49,000 units, up 87.58%; and overseas sales grew by 68.59% [1] - GAC will upgrade its export model from product service to a collaborative approach involving the entire industry chain, ecosystem, digitalization, and financial systems, implementing innovative measures in product development, channel construction, and operational methods [1] Group 2 - GAC Group has appointed Chen Jiacai as the deputy general manager responsible for overseas business, who has extensive experience in automotive exports, having held key positions in various automotive companies [2]

#雷军回应网传小米二手车崩盘#【#雷军说个别车商为蹭流量又哭又闹#】小米创办人，董事长兼 CEO 雷军2月1日晚在北京亦庄举行科普直播，揭秘新一代 SU7 的研发过程，并聊到最近几件小米汽车比较 热门的事。记者从直播获悉，雷军透露，前一段时间，SU7 二手车事件在网络上引起了轩然大波，个 别二手车商为了蹭流量又哭又闹的，说小米二手车崩盘了。雷军对此拿出了中国汽车流通协会和精真估 联合发布的"2025 年度中国汽车保值报告"，并解释道："小米 SU7 的 2025 年度纯电车型一年保值率是 86.05%，（保值率）排名第一位，是保值率最强的电动汽车。所以我也不太理解那么多二手车商突然 冒出来，欢迎大家在看到时帮我们举报一下。并且现在网上也有很多记者实地去二手车行采访，小米 SU7 在各家的流动速度、保值率方面都表现很出色。而且在过去几年里，小米 SU7 在各家的保值率都 排在第一位，例如保时捷 Taycan 当时是 80.66%，特斯拉 Model S 是 81.72%，而小米 SU7 是以 86% 的 保值率获得了第一名。"（荆楚网 看度新闻） ...

随后，雷军坦言歉意，并公开表示："抱歉。所以我们这一场直播是费用很高很高的，就是我们这些试 验室都停下来给大家展示的话，我们李毅博士可是很心疼的。但是我就跟他讲，我就说呢，今天我们小 米进到汽车市场以后，我们有责任给大家科普一下车是怎么做出来的。" 值得一提的是，此次直播也引发网友细心观察，试验室内部原本悬挂 "禁止拍照、禁止摄像" 的保密标 识十分醒目。 2月2日一早，雷军专门发文对此作出回应：试验室在测试新的项目时，禁止拍照、录像等。这次直播， 这些试验室暂停了新车型测试任务，用SU7/YU7量产车演示，就取消了保密要求。 快科技2月2日消息，2月1日晚间，小米创办人、董事长兼CEO雷军现身小米汽车在北京亦庄试验室，开 启专场直播活动。 直播中，雷军谈及："所以汽车这些试验室，只要一开始测试的话，都是工作量非常繁重的。" 此外，他还发文表示：这次直播，我请了陈赛虎(试验验证部总经理)、李毅博士(试验室负责人)助播， 大家觉得这两位专家讲得如何？ 他现场向一同助播的小米汽车试验室负责人李毅博士询问："我们为了给大家展示这一次的话，其实是 让他们的工作都有些耽误的是吧？"李毅博士回答道："说实话是的。" 随后 ...

Group 1 - BYD officially announced the launch of its fourth sub-brand "Linghui Auto" on February 2, following Fangchengbao, Tengshi, and Yangwang [1][4] - The Linghui brand is positioned as a "super value travel practitioner," targeting the B-end operation market, including ride-hailing, taxis, and government vehicles, distinguishing itself from the personal passenger car market [1][4] Group 2 - The first batch of Linghui models includes four vehicles, covering both pure electric and plug-in hybrid powertrains, forming a complete product line from compact sedans to mid-to-large MPVs [3][7] - Linghui e5 is based on the Qin PLUS EV, targeting the entry-level market with a focus on economy and durability, suitable for ride-hailing scenarios [3][7] - Linghui e7 is derived from the Sea Lion 07 EV platform, positioned in the mid-range, balancing performance and cost to meet dedicated vehicle needs [3][7] - Linghui e9, based on the BYD Han, is over 5 meters long and features dual motors with 135kW/150kW, aimed at high-end business travel, potentially being the first operational vehicle equipped with the "Heavenly Eye" L2+ level driver assistance system [3][7] - Linghui M9 is based on the BYD Xia plug-in hybrid platform, with a comprehensive range of 1200 kilometers, suitable for long-distance transfers and business receptions, with plans to launch a right-hand drive version for overseas markets [3][7]

近日，大众汽车集团（中国）宣布，其专为中国市场研发的区域控制电子电气架构（CEA架构）已于2025年底如期交付。首款基于该架构的车型——大 众品牌ID.与众07，已在安徽工厂正式投产。此举标志着大众在中国市场迈入"软件定义汽车"的量产新阶段。 集团管理董事会主席奥博穆称，CEA架构的量产是"在中国，为中国"战略的关键里程碑，展示了集团将前沿技术高效推向市场的能力。大众汽车集团 （中国）董事长兼首席执行官贝瑞德指出，该架构实现了"中国速度"与"大众基因"的融合，为持续推出软件驱动创新的产品奠定了基础。 据悉，采用新架构及相应开发流程后，整车开发效率最高提升约30%，部分新车型开发成本最多可降低约50%，有助于集团更敏捷地响应中国本地市场 需求。 大众汽车集团表示，今年内，其在华三大合资企业将陆续推出共五款搭载CEA架构的新车型，涵盖纯电、混合动力及燃油等多种动力类型。大众也由此 成为业内首家将区域电子架构规模化应用于多车型、全动力类型的整车制造商。 随着CEA架构的落地，大众汽车在华智能化进程全面提速。2026年，大众汽车集团计划在中国推出超过20款新能源车型，持续深化其向软件与AI驱动 的智能出行转型。 据介 ...

Core Insights - Great Wall Motors reported a total sales volume of 90,312 vehicles in January 2026, representing an 11.59% increase compared to January 2025 [1] Brand Performance - Haval brand sold 50,513 vehicles, showing a year-on-year growth of 4.03%. The Haval Dog model ranked first in sales among boxy and off-road vehicles in China for 2025 [1] - Wey brand achieved sales of 7,873 vehicles, marking a significant year-on-year increase of 57.24%. The AI luxury six-seat flagship model, Wey V9X, is set to be officially launched soon [1] - Tank brand recorded sales of 14,505 vehicles, with a year-on-year growth of 12.92%. The Tank 300 has maintained its position as the best-selling off-road SUV for five consecutive years [1] - Ora brand sold 2,057 vehicles, with a historical cumulative sales figure reaching 559,800 units [1] - Great Wall Pickup sales totaled 15,350 vehicles, reflecting a year-on-year increase of 24.58% [1]

Core Viewpoint - The event highlighted the significant progress of the Chinese automotive industry during the "14th Five-Year Plan" and set the stage for the "15th Five-Year Plan," focusing on the high-quality international expansion of Chinese automotive brands [4][16]. Group 1: Event Overview - The "See Chinese Cars" documentary premiered at a high-level seminar on the internationalization of Chinese automotive brands, attended by industry experts and representatives from major automotive companies [1][3]. - The documentary will be released online before the Spring Festival and is part of a broader initiative to promote the global presence of Chinese automotive brands [2][7]. Group 2: Industry Growth and Projections - According to the China Association of Automobile Manufacturers, by 2025, China's automotive production and sales are expected to exceed 34 million units, with new energy vehicles surpassing 16 million units and exports reaching approximately 7.1 million units, a year-on-year increase of 21.1% [3]. - The "14th Five-Year Plan" period saw a significant leap in the export growth and globalization of the Chinese automotive industry, marking it as a key highlight [4]. Group 3: Documentary and Brand Stories - The documentary features five representative brands—FAW Hongqi, Changan, Chery, BYD, and BAIC Foton—illustrating their stories of international expansion and the role of Chinese automotive brands in global industrial development [5][7]. - The documentary aims to enhance the global image and influence of "Chinese Cars" through a comprehensive media strategy [5]. Group 4: Industry Collaboration and Future Directions - The seminar included discussions on the transformation of China's automotive internationalization from basic market entry to deeper integration and value creation [8][9]. - Industry leaders emphasized the importance of collaboration among enterprises, government, and financial institutions to support the internationalization of the automotive sector [9][10]. Group 5: Brand Development and Strategy - The "See Chinese Cars" initiative has been ongoing since May 2021, focusing on enhancing the overall image and influence of Chinese automotive brands through various activities and collaborations [15]. - Future plans include a special project to honor the spirit of the Long March, showcasing the technological advancements and core competitiveness of Chinese automotive brands in the context of smart and new energy vehicles [16].

Core Insights - Deep Blue Automotive has launched an OTA upgrade for the Deep Blue L06 model, enhancing features such as smart parking and obstacle avoidance Group 1: Smart Parking and Safety Features - The Deep Blue L06 has optimized obstacle avoidance and parking scenarios, allowing for more precise detection of pedestrians and vehicles, and enabling defensive deceleration to mitigate potential dangers [1] - A new feature for parking in unmarked spaces has been introduced, allowing for successful reverse parking and side parking even when there is a vehicle on one side, enhancing parking safety [1] - The upgrade has improved the performance of the navigation assist driving system, increasing driving safety and operational efficiency, while enhancing the stability of the navigation assist [1] Group 2: Driver Monitoring and Control - The fatigue monitoring function has been optimized, with upgraded fatigue and distraction detection capabilities; the DMS camera can now monitor driving status in real-time and provide timely alerts [1] - The refreshed alert mode intelligently adjusts to alleviate driver fatigue [1] - The steering control of the Deep Blue L06 has been further refined, providing smooth and stable handling, with precise acceleration and deceleration operations [3] Group 3: Seasonal Features - To celebrate the upcoming Year of the Horse, the upgrade includes a special Spring Festival themed navigation, incorporating traditional elements such as Chinese knots and fireworks, along with a unique "马上有钱" navigation icon [6]

摩根大通：将宝马目标价从89欧元上调至100欧元。 本文源自：金融界AI电报 ...

证 券 研 究 报 告 【宏观快评】 ❖ 近一周，中央层面政策出台不多，主要关注以下内容： 1、外交：1 月 29 日，商务部召开例行发布会，有记者提问"美国贸易代表日 前在达沃斯向记者表示，在可能于 4 月举行的中美领导人会晤之前，中美双 方有机会开启新一轮经贸谈判"。 2、反腐：1 月 27 日，总理在国务院第四次廉政工作会议上指出，深刻理解和 把握管党治党越往后越严、一严到底的鲜明立场，树立和践行正确政绩观。 3、产业：一是光伏反内卷。1 月 28 日，工信部部长召开光伏行业企业家座谈 会，提出当前形势下，"反内卷"是光伏行业规范治理的主要矛盾，要求综合运 用产能控制等手段坚决破除行业内卷式竞争。二是发电侧容量电价改革。1 月 30 日，国家发改委等引发通知，对现行煤电、气电、抽水蓄能容量电价机制 进行了完善，并首次在国家层面明确建立电网侧独立新型储能容量电价机制。 4、资本市场：1 月 30 日，证监会召开资本市场"十五五"规划上市公司座谈会， 吴清主席在会上提出，高质量编制和实施好资本市场"十五五"规划，全力巩 固资本市场稳中向好势头，聚焦持续深化资本市场投融资综合改革、提高制度 包容性适应性，抓紧 ...