新能源车ETF（159806）跟踪的是CS新能车指数（399976），该指数聚焦于新能源汽车产业链，涵盖上 游材料、中游零部件及下游整车等环节，选取涉及锂电池技术、电动汽车制造及相关配套业务的上市公 司证券作为指数样本，旨在全面反映中国新能源汽车产业的整体表现。 风险提示：提及个股仅用于行业事件分析，不构成任何个股推荐或投资建议。指数等短期涨跌仅供参 考，不代表其未来表现，亦不构成对基金业绩的承诺或保证。观点可能随市场环境变化而调整，不构成 投资建议或承诺。提及基金风险收益特征各不相同，敬请投资者仔细阅读基金法律文件，充分了解产品 要素、风险等级及收益分配原则，选择与自身风险承受能力匹配的产品，谨慎投资。 1月9日，新能源车ETF（159806）收涨超1%，行业拐点与竞争格局演变引关注。 东吴证券指出，2020年新能源车行业出现向上拐点，主要因行业销量同比转正及新能源渗透率出现实质 性拐点，自主品牌份额显著提升。特斯拉国产化后Model 3成为爆款，强化产业趋势，同时产业链经济 性改善推动供给端百花齐放。2021~2022年行业受芯片短缺和电池成本上涨制约，比亚迪等供应链垂直 一体化车企优势显著。2023年供 ...

Group 1 - The core point of the article is the collaboration between Geely Haohan Energy and Australian charging operator EVIE, which has launched a charging map for electric vehicle users in Australia through the ZEEKR App [1] - By December 2025, Haohan Energy plans to connect 350 stations and 1,282 charging guns in Australia, enhancing the charging infrastructure for local electric vehicle users [1]

近日，有网友分享了在低温情况下小鹏超级增程的驾驶情况。 责任编辑：李思阳 近日，有网友分享了在低温情况下小鹏超级增程的驾驶情况。 对此，小鹏汽车董事长何小鹏转发博文表示，感谢鹏友对小鹏X9超级增程的信任和喜欢。也再次提醒 大家，智驾是得力助手，但复杂情况、极端路况，务必及时接管，让我们共同守护出行安全。 对此，小鹏汽车董事长何小鹏转发博文表示，感谢鹏友对小鹏X9超级增程的信任和喜欢。也再次提醒 大家，智驾是得力助手，但复杂情况、极端路况，务必及时接管，让我们共同守护出行安全。 责任编辑：李思阳 ...

ES9拥有蔚来最高水准的科技配置，包括天行底盘系统等，将给用户带来全新的SUV驾乘体验，且结合视觉感知系统，根据地库高度自动降低底盘以方便进 出。 1月8日，蔚来 ES9亮相工信部公告。作为蔚来SUV产品线的旗舰代表，ES9展现了蔚来在高端纯电领域的深度探索与技术积淀。 蔚来ES9尺寸长5365mm、宽2029mm、高1870mm，轴距3250mm；最高速220km/h；总质量3490kg，整备质量2845/2870/2915kg；轮胎有三种规格： 265/50R21、275/45R22、HL275/40R23，前轮距1730mm，后轮距1758mm。 ...

Core Viewpoint - The article discusses the recent controversies surrounding Xiaomi, particularly the backlash from its fanbase (Mi Fans) due to a KOL (Key Opinion Leader) incident, highlighting the challenges Xiaomi faces in managing its brand image and public relations [2][4][10]. Group 1: Incident Overview - On January 5, a KOL named "万能的大熊" revealed in a group chat that Xiaomi had paid him, leading to a significant backlash from the Mi Fan community [2]. - Xiaomi's PR manager, Xu Jieyun, publicly apologized and confirmed the termination of all collaborations with the involved KOL, acknowledging the incident as a serious violation of company principles [4]. - Xiaomi's CEO, Lei Jun, emphasized the importance of protecting users and stated that the issue was not just about criticism but involved attacks on the Mi Fan community [4][10]. Group 2: Fan Dynamics - The article explores the evolution of Xiaomi's fanbase, noting that Mi Fans have transitioned from mere supporters to active participants in the company's operations, often influencing brand decisions through protests and social media [10][19]. - Xiaomi's initial success was largely attributed to its dedicated fanbase, which provided marketing support and product feedback during its early days [11]. - The extreme reactions from some fans have created a challenging environment for Xiaomi's PR, where any criticism is met with hostility from loyal supporters [13][17]. Group 3: Brand Perception and Marketing - The perception that Xiaomi relies solely on marketing has been a point of contention, with Lei Jun arguing that this view undermines the company's technological capabilities [25][27]. - The article highlights the negative impact of emotional and polarized public discourse on Xiaomi's brand image, suggesting that rational voices are often drowned out by more extreme opinions [17][30]. - Xiaomi's brand Net Promoter Score (NPS) has declined to 65.4, down approximately 8.5 points, indicating a growing concern over user sentiment and external perceptions [19][20]. Group 4: Future Directions - Lei Jun has indicated a strategic shift towards investing in core technologies to transition Xiaomi from an internet company to a technology-driven enterprise, acknowledging past missteps in market positioning [30][33]. - The article suggests that Xiaomi's ability to innovate and compete across various sectors, such as home appliances and automotive, is rooted in its strong engineering capabilities and systematic approach [33]. - The need for a balanced approach in addressing both fan concerns and broader market perceptions is emphasized, advocating for a focus on the majority of users rather than being overly reactive to vocal minorities [24].

据零跑汽车公布，2025 年公司全年累计交付达 596555 台，同比增长 103%，保持强劲增长态势，2026年，零跑汽车将冲击100万辆年销量目标。财报方面， 2025年上半年，零跑汽车首次实现半年度净利润转正，成为中国造车新势力中第二家实现半年度盈利的企业。2025年第三季度，零跑净利润持续为正，为 1.5亿元，连续实现季度盈利。此外，零跑汽车还获得中国一汽约37.4亿元入股，发展前景明朗。华泰证券发布研报称，预计零跑25-27年销量为60/104/142万 辆，实现营收683/1235/1688亿元，归母净利6.6/51.1/82.5亿元，维持"买入"评级。 2025年的车圈价格战影响甚广。据乘联分会秘书长崔东树发布的数据，2025年乘用车行业降价规模达177款，其中燃油车降价52款，混动燃油车降价9款，插 混燃油车降价30款，增程车型降价13款，纯电动车型降价73款。2026年，新能源汽车市场迎来政策变化，车辆购置税优惠从全额免征调整为减半征收，报废 置换补贴由定额发放调整为按车价比例发放。2025年12月12日，市场监管总局发布《汽车行业价格行为合规指南（征求意见稿）》，明确禁止了低于成本销 售、 ...

天眼查工商信息显示，近日，浙江零跑汽车销售服务有限公司发生工商变更，注册资本由2亿人民币增 至8.5亿人民币，增幅325%。该公司成立于2018年8月，法定代表人为徐军，经营范围含汽车零配件零 售、汽车装饰用品销售、汽车零配件批发、 新能源汽车整车销售、新能源汽车电附件销售、机械电气 设备销售、互联网 数据服务等。股东信息显示，该公司由浙江零跑科技股份有限公司全资持股。 ...

Core Viewpoint - Xiaopeng Motors continues its product offensive in 2026, launching four new models with advanced L4-level computing capabilities and proactive intelligent cockpit services, embodying the concept of "technology equality" [1] Group 1: New Model Launches - On January 8, 2026, Xiaopeng Motors unveiled the 2026 models of P7+, G7 Super Range, G6, and G9, with global releases in 36 countries [1] - The pricing for the new models starts at 186,800 RMB for P7+, 195,800 RMB for G7, 176,800 RMB for G6, and 248,800 RMB for G9 [1] - The 2025 cumulative delivery reached 429,445 units, marking a 126% year-on-year growth, with products available in 60 countries and regions [3] Group 2: Technological Innovations - The new models feature the second-generation VLA developed by Xiaopeng, capable of achieving L4 initial capabilities, with a direct generation of action commands from visual signals [5] - The second-generation VLA software will begin vehicle deployment in March 2026, with Robotaxi already passing third-party testing [5] - The newly launched Tianji AIOS6.0 system upgrades the intelligent cockpit from passive response to proactive service, enhancing user interaction [5] Group 3: Model Features and Specifications - The 2026 P7+ offers a spacious interior with an 88% usable area, a trunk capacity of 725L, expandable to 2,221L, and features like a zero-gravity passenger seat [7] - The G7 Super Range emphasizes over 20 luxury comfort features and a spacious interior, with a trunk capacity of 779L, expandable to 2,237L [9][10] - The G6 and G9 models are equipped with high-performance Turing AI chips and the Tianji AIOS6.0 system, providing various intelligent driving and cockpit options [12][14]

Core Insights - The ID. ERA 9X is positioned as a flagship model for SAIC Volkswagen, marking a significant entry into the high-end new energy vehicle market, emphasizing a comprehensive approach rather than just a product launch [2][4] - The vehicle is designed to integrate global manufacturing expertise with local smart ecosystems, aiming to redefine value standards in the automotive industry [2][4] Group 1: Product Specifications - The ID. ERA 9X is a six-seat extended-range vehicle with dimensions of 5207mm in length, 1997mm in width, and 1810mm in height, making it the largest SUV in the Volkswagen Group's lineup [4] - It features a long wheelbase of 3070mm and combines German functional aesthetics with Eastern design philosophy, creating a unique visual identity [4] Group 2: Market Positioning - The entry of the ID. ERA 9X into the 400,000 RMB high-end SUV market signifies the arrival of a major player equipped with global R&D capabilities and extensive manufacturing experience [4][6] - The vehicle aims to address the evolving consumer expectations for luxury, focusing on long-term reliability, energy efficiency, safety redundancy, and resale value [6] Group 3: Technological Advancements - The ID. ERA 9X represents a transition to the 3.0 era of extended-range vehicles, featuring a large capacity battery from CATL that ensures over 400km of pure electric range, thus eliminating range anxiety for users [9][11] - The vehicle's powertrain is designed to minimize performance degradation during battery depletion, maintaining a performance drop of less than 5%, compared to competitors that may experience drops of 50%-150% [11] Group 4: Brand Strategy - The launch of the ID. ERA 9X is part of a broader strategy to reshape the Volkswagen brand in the new energy market, aiming to enhance brand recognition and reputation among consumers [12][14] - The company emphasizes a commitment to safety and user experience, with plans to incorporate advanced intelligent driving assistance systems in the ID. ERA 9X [14] Group 5: Future Outlook - The ID. ERA 9X is seen as a critical response to the challenges of the new energy transition, addressing technical pain points and redefining value logic in the automotive sector [14][15] - The overarching goal is to ensure that the ID. ERA 9X embodies the essence of a Volkswagen vehicle, maintaining a driving experience that is easy, controllable, and user-friendly [15]

Core Viewpoint - Regional coordinated development is an inherent requirement of Chinese-style modernization, emphasizing the need for urban-rural and regional integration to enhance domestic circulation [1][4]. Group 1: Regional Development Strategies - The Central Economic Work Conference highlights the importance of promoting coordinated development and urban-rural integration, implementing regional coordination strategies, and leveraging multiple national development strategies [1][7]. - Key urban agglomerations like Beijing-Tianjin-Hebei, Yangtze River Delta, and Guangdong-Hong Kong-Macao Greater Bay Area are crucial for driving high-quality national development, contributing to 75% of the population and approximately 85% of GDP [7]. Group 2: Infrastructure and Connectivity - "Hard connectivity" through major transportation networks supports regional development, with 1-2 hour traffic circles established in key regions, covering about 90% of the national economy and population [5]. - "Soft connectivity" initiatives, such as ecological protection agreements and shared public services, are enhancing collaborative governance and breaking down administrative barriers [6]. Group 3: Agricultural Modernization - Agricultural modernization is accelerating, with a focus on food security and poverty alleviation, as highlighted by the Central Economic Work Conference [8][10]. - The resilience of agricultural supply chains has improved, with grain production achieving high yields despite adverse weather conditions, and average yield per mu increasing by 4.4 kg [10]. Group 4: Rural Development and Quality of Life - Rural living conditions are improving, with sanitation facilities reaching a 76% coverage rate and over 90% of villages having waste management systems [11]. - The "14th Five-Year Plan" emphasizes tailored rural revitalization strategies to address regional disparities and enhance living standards [12]. Group 5: Economic Growth in Counties - County-level economies are experiencing significant growth, with the number of counties exceeding 100 billion yuan in GDP increasing to 62, and those nearing this threshold reaching 21 [14]. - Counties are diversifying their economic activities, focusing on industries such as light manufacturing, new energy, and tourism, leading to unique development paths [14]. Group 6: Urban-Rural Integration - The urbanization rate is projected to reach 67% by the end of 2024, with policies being implemented to facilitate the integration of rural populations into urban areas [15]. - The establishment of integrated medical systems in over 90% of counties by the end of 2025 is expected to enhance the overall capacity of county-level services [15].