坦克400。 企业供图 全新坦克400的车身尺寸为4964毫米×1970毫米×1905毫米，轴距为2850毫米。内饰提供15.6英寸中控屏，支 持2.5K分辨率，并搭载第三代车机系统以及大模型语音交互功能。车内还配备了12.3英寸全液晶仪表、抬头 显示等。 此次新款坦克400新增Hi4-Z车型，具备部分地形适应能力，有四驱和一把差速锁。 校对 穆祥桐 新京报贝壳财经讯（记者白昊天） 11月6日，全新坦克400上市，有汽油、柴油和混合动力等版本，售价区 间为24.98万-31.98万元。长城汽车坦克品牌执行副总经理谷玉坤表示，坦克品牌成立4年半，已收获近80万 用户，国内细分市场占比达50%，出口30多个国家和地区。 ...

Core Insights - The Chinese new energy vehicle (NEV) industry has shown strong growth since the "14th Five-Year Plan," with annual production and sales exceeding 12 million units, enhancing core competitiveness and contributing to high-quality economic development [1] - The automotive industry is undergoing a transformation from traditional industrial expansion to a technology-driven model, focusing on innovation and quality improvement [1][3] - In September, NEV production reached 1.617 million units and sales reached 1.604 million units, marking year-on-year increases of 23.7% and 24.6% respectively [1][3] - BYD has achieved cumulative global sales of 3.26 million units from January to September, a year-on-year increase of 18.64%, and has completed 70.87% of its annual sales target [3][5] Industry Growth - The NEV market is shifting from policy-driven to market-driven, indicating increasing consumer acceptance [3] - The total production of NEVs in the first three quarters of 2025 reached 11.243 million units, with sales of 11.228 million units, reflecting year-on-year growth of 35.2% and 34.9% respectively [1] Technological Innovation - Technological advancements have led to improvements in battery range, charging efficiency, energy consumption, and intelligence levels, enhancing product competitiveness [3][5] - BYD's R&D expenses reached 43.75 billion yuan, a 31% increase year-on-year, with total R&D investment exceeding 220 billion yuan [5] - The introduction of the "Tiangshen Eye" advanced driving assistance system has significantly contributed to BYD's sales, with over 1.7 million units sold since its launch [3][5] User-Centric Development - BYD's focus on technology innovation addresses user needs for safety, efficiency, and environmental sustainability, creating a strong link between user demand and industry development [3][11] - The fifth-generation DM technology has achieved a thermal efficiency of 46.06% and a fuel consumption of 2.6 liters per 100 kilometers, directly responding to user demands for lower operating costs [7][9] - BYD's "Yunlian" intelligent vehicle body control system and "Tiangshen Eye" system enhance driving comfort and safety, making advanced features accessible to more consumers [9][11]

11月5日，第八届中国国际进口博览会在上海国家会展中心开幕。嘉定综合保税区受邀首次参展，在"汽车及智慧出行展区"设立"境外经典车文化展示专 区"，集中呈现11款跨越时代的经典车型，展现汽车工业的演进历程与文化魅力，推动产业与文化的深度融合。 此次参展是嘉定综保区将经典车产业从功能实践推向国际舞台的关键一步。借助进博会这一全球性平台，不仅展示了经典车的文化价值，也进一步拓展 嘉定综保区在产业合作、制度创新与文化交流等方面的综合功能。未来，嘉定综保区将继续依托政策与平台优势，深化经典车领域的国际合作与制度创新， 全力打造辐射长三角、面向全球的汽车文化高地与产业创新枢纽。 本次展区位于国家会展中心2.1号馆，面积600平方米。展车涵盖法拉利F40、保时捷911S、劳斯莱斯幻影I Boat Tail、兰博基尼Countach 25周年纪念版等 国际经典名车，以及作为"隐藏款"惊喜亮相的新中国第一代高级礼宾用车——红旗CA72。这些车型代表着不同时期的工业制造巅峰，是汽车文化传承与创 新的生动见证。展车按照年代顺序陈列，配以中英文解说，系统呈现了汽车工业的美学演变与技术突破，为观众打造了一场融合科技、艺术与历史的沉浸式 ...

在智能化方面，新车基于奔驰自研的MB.OS架构打造，配备AI赋能的智能座舱，引入字节跳动豆包大模型，提供更自然的语音交互体验。同时，梅赛 德斯-奔驰与Momenta合作，为中国市场量身打造了城区及高速领航辅助驾驶系统，支持智能变道、辅助泊车等功能。 安全始终是梅赛德斯-奔驰的核心标准。全新纯电CLA标配11个安全气囊，上市前已完成超过180次实车碰撞测试。在电安全方面，车辆通过了中国电动 汽车火灾安全指数测评（整车电池穿刺测试）五星认证、NESTA整车电安全专项验证测试等多项权威认证。 11月5日，全新梅赛德斯-奔驰纯电CLA正式上市，提供奔驰纯电CLA 300 L超长续航版、奔驰纯电CLA 300 L超长续航领智版、奔驰纯电CLA 300 L超长 续航冠军限量版（100台限量发售）3款车型选择，全国统一的上市专享价分别为人民币249,000元、285,600元和299,900元。 北京梅赛德斯-奔驰销售服务有限公司总裁兼首席执行官段建军表示："作为梅赛德斯-奔驰为中国客户倾力打造的全新纯电豪华力作，全新奔驰纯电 CLA在设计、能效、智能、安全等各个维度上为客户带来全新升级的体验。传承了奔驰轿跑之美，全新奔驰 ...

智通财经11月6日讯（编辑 冯轶）智通财经为您带来今日港股重要公告 1）公司要闻 百济神州(06160.HK)：前9月总收入约38.45亿美元，同比增长43%；经调整净利润约6.93亿美元，同比扭亏为盈。其中，三季度收入达14.12亿美元，同比增 长41%；经调整净利润约3.04亿美元，同比增长489%。 公告称，主要得益于百悦泽®在美国和欧洲的销售额增长，目前美国仍是公司最大的市场。公司全年总收入指引为51亿美元至53亿美元，其中包 括收入强劲增长的预期，受益于百悦泽®在美国的领先地位以及在欧洲和全球其他重要市场的持续扩张。 东风集团股份(00489.HK)：前10个月累计汽车销量为150.1万辆，同比下降约1.6%。其中，新能源汽车销量为42.14万辆，同比增长约37.1%。 中国海外发展(00688.HK)：前10个月累计合约物业销售金额约1891.65亿元，同比下跌21.3%。 保利置业集团(00119.HK)：前10个月累计合约销售金额438亿元，同比减少10.43%。 金地商置(00535.HK)：前10个月累计合约销售金额约91.25亿元，同比减少43.93%。 融创中国(01918.HK)：前 ...

国芯网[原:中国半导体论坛] 振兴国产半导体产业！ 不拘中国、 放眼世界 ！ 关注 世界半导体论坛 ↓ ↓ ↓ 11月6日消息，荷兰安世昨晚发表声明称， 由于其在中国的子公司拒绝支付货款，公司已暂停向其中国 工厂供应晶圆！ 荷兰安世 表示，中国子公司拒绝支付运往其工厂的晶圆货款"并非个案"。指控中国子公司在无正当理 由或无正当解释擅自使用 安世 中国实体的公司印章；开设未经授权的银行账户，并指示客户将款项汇 入这些账户；还向客户、分包商、第三方供应商和员工发送包含虚假信息的未经授权的信件。 此外， 荷兰安世 表示对美国当局暂停实施所谓的"关联方规则"一年表示欣慰。该规则曾将美国出口管 制限制扩大至由美国实体清单上的实体持有50%或以上股份的实体。 对于张学政复职CEO的传闻和猜测， 荷兰安世 表示，公司确认，根据2025年10月7日企业法庭的裁决， 张学政已被暂停董事职务。因此，张学政不再担任 荷兰安世 的CEO。 另据报道，由于安世半导体的芯片供应短缺，日产汽车将从下周起削减其在日本最畅销的SUV车型 Rogue的产量。 报道中提到，日产计划从11月10日开始的一周内，在其位于日本西南部九州的工厂减产约90 ...

Core Viewpoint - The initial public offering (IPO) of Seres (赛力斯) on the Hong Kong Stock Exchange did not attract significant investor enthusiasm, despite being the largest automotive IPO in Hong Kong this year, with a total market capitalization of HKD 229.1 billion [2][3]. Group 1: IPO Performance - On November 5, Seres officially listed on the Hong Kong Stock Exchange, with its stock price experiencing significant volatility, opening at HKD 128.9 per share, down 1.98% from the issue price, and at one point dropping by 9% before closing at HKD 131.5, equal to the issue price [2]. - The total market capitalization of Seres at the close was HKD 229.1 billion, making it the second-largest automotive company by market cap in Hong Kong, following BYD [2]. Group 2: A-Share Performance - On the same day, Seres' A-shares (601127) fell by 5.56%, closing at CNY 146.03 per share, with a total market capitalization of approximately CNY 238.5 billion [3]. Group 3: Fundraising and Financials - Seres raised a total of HKD 142.8 billion through its IPO, breaking the previous record set by Chery Automobile for the largest automotive IPO in Hong Kong this year [4]. - The company has been in a continuous loss for four years prior to 2024, but is projected to achieve profitability in 2024, with revenue expected to surge from over CNY 300 billion to CNY 145 billion, resulting in a profit of nearly CNY 6 billion [4]. - In the first three quarters of this year, Seres reported a revenue of CNY 1105.34 billion, a year-on-year increase of 3.67%, and a net profit attributable to shareholders of CNY 53.12 billion, up 31.56% [5]. Group 4: Sales Performance - Despite the anticipated growth, Seres faced sales pressure, with total sales in the first three quarters of this year at 340,700 units, a year-on-year decline of 7.79%, and sales of new energy vehicles down by 3.82% [4].

43 个月达成百万销量、单车均价 39 万元，鸿蒙智行量价齐升。 今年经常看到车企高层往返华为坂田基地的报道，从年初的小鹏汽车 CEO 何小鹏到最近的奇瑞董事 长尹同跃，多家车企一把手陆续造访。六年前，华为初入汽车圈时还被视作潜在对手，如今已有超过 20 家车企与其达成深度合作，其中包括国央企、头部自主品牌和传统豪华品牌。 车企态度的转变源自鸿蒙智行的表现。10 月底，鸿蒙智行宣布达成百万交付量，用时 43 个月。相比 理想用时 58 个月，零跑的 75 个月，鸿蒙智行最快达成目标。而经过三年多探索，鸿蒙智行的品牌矩 阵初步成型：问界成为销量主力，智界、享界、尊界和尚界则在不同细分市场完善布局。 规模迅速扩大的同时，鸿蒙智行的单车当月成交均价达到 39 万元，进入宝马、奔驰、奥迪（BBA） 等传统豪华品牌的价格区间。而它与以 BBA 为代表的传统豪华品牌的竞争，也从分食份额进入正面 较量的新阶段。面对市场压力，BBA 在中国市场普遍降价以稳定销量，部分主力车型及新推出的电动 车优惠幅度较大，今年上半年，三大品牌的营收与利润均不同程度下滑。 过去六年，华为尝试三种模式切入汽车产业，一是华为智能汽车解决方案 BU ...

11月6日，东风股份（600006）发布10月份产销数据快报，当月，整体汽车合计的产量为6536辆，去年同期为9088辆；销量为7336辆，去年同期为11032 辆。其中，客车单月的销量仅为397辆。 另外，东风股份已连续三个季度营业收入下滑。 今年第一季度、第二季度、第三季度，公司分别实现营业收入26.28亿元、24.03亿元和19.8亿元，同比降幅分别为20.03%、4.32%和9.22%，环比降幅分别 为11.17%、8.58%和17.59%，无论是同比还是环比均为下降趋势。 | 车型类别 | | | 产量 | | | | | 销量 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 本月 | 去年 同期 | 本年累计 | 去年同 期累计 | 景计增 減幅度 (%) | 本月 | 去年 同期 | 本年累计 | 去年同 期累计 | 累计增 減幅度 (%) | | 商 轻型货车 | 6.016 | 8, 336 | 84, 852 | 107, 186 | -20. 84 | 6.805 | 9, 929 ...

Investment Rating - The investment rating for the company is "Buy" [5][9]. Core Views - The company reported a revenue of 56.627 billion yuan for the first three quarters of 2025, representing a year-on-year increase of 12.75%. However, the net profit attributable to shareholders decreased by 7.55% to 2.333 billion yuan [1][5]. - The sales of new energy vehicles (NEVs) showed steady growth, with a total of 3,260,146 units sold in the first three quarters of 2025, marking an 18.64% increase year-on-year [1][2]. - The company is accelerating its global expansion, with total global sales exceeding 3.7 million units in the first ten months of 2025, and overseas sales of NEVs reaching 785,000 units [2]. - Research and development (R&D) expenses increased by 31.3% to 4.375 billion yuan, accounting for 7.7% of revenue, driven by higher internal R&D investments [2]. Summary by Sections Financial Performance - For Q3 2025, the company achieved a revenue of 19.498 billion yuan, a decrease of 3.05% year-on-year, and a net profit of 0.782 billion yuan, down 32.60% [1][5]. - The projected revenue for 2025-2027 is expected to reach 836.63 billion yuan, 993.4 billion yuan, and 1,159.55 billion yuan, with growth rates of 7.7%, 18.7%, and 16.7% respectively [3][8]. Profitability Forecast - The forecasted net profit for 2025-2027 is expected to be 35.35 billion yuan, 47.43 billion yuan, and 58.57 billion yuan, with growth rates of -12.2%, 34.2%, and 24% respectively [3][8]. Valuation Metrics - The current price-to-earnings (P/E) ratios for 2025, 2026, and 2027 are projected to be 24.7x, 18.4x, and 14.9x respectively [3][8].