行走白山松水，产业协同、文化相融的协奏曲悦耳动听，协调发展的蓬勃活力奔涌在城市间。 地处长春市和吉林市之间，龙嘉机场夏季客运繁忙。机场附近就是龙嘉高铁站。从龙嘉高铁站向东西两 侧延伸出的优美弧线，让城市连接更密切：向西，只需十几分钟到长春站，向东，半小时左右即可抵达 吉林市。 通衢大邑一路歌，基础设施加速建设，进一步将吉林省的区位优势转化为发展优势。 两张卫星图，聚焦同一域，看到通达互联的力度。与5年前相比，卫星俯瞰下的吉林省，城市间的线条 更密：公路连通更紧密，吉林省高速公路通车总里程从约4000公里增长至超5000公里；高铁网络更立 体，长春至长白山开通高铁，往来时间从5小时压缩至2小时左右。 多向联通、多式联运的对外对内通道日益完善，"硬联通"为物流往来注入澎湃动力。 汽笛声响，长春兴隆综合保税区内，满载汽车零部件的中欧班列启程。2024年，长春国际陆港中欧班列 开行量同比增长40%。 开放的吉林，与东北地区其他省份的协同联动更加紧密。"借港出海"，长春至大连铁海联运实现"天天 班"；"一单制"便捷通关，让吉林货物在家门口就能"登上"远洋巨轮。"铁公水空多式联运体系日益完 善，发展成一条条带动经济发展的 ...

截至2025年7月25日收盘，上汽集团（600104）报收于17.47元，较上周的17.86元下跌2.18%。本周，上 汽集团7月23日盘中最高价报18.0元。7月25日盘中最低价报17.43元。上汽集团当前最新总市值2022.2亿 元，在乘用车板块市值排名3/8，在两市A股市值排名61/5148。 本周关注点 交易信息汇总 7月21日至25日，上汽集团连续五天发生多笔大宗交易，具体如下：- 7月25日发生2笔大宗交易，成交 金额1.21亿元。- 7月24日现2笔大宗交易，机构净买入5229万元。- 7月23日发生3笔大宗交易，成交金额 1.76亿元。- 7月22日现1笔大宗交易，机构净买入1.57亿元。- 7月21日现1笔大宗交易，机构净买入1.58 亿元。 上汽集团发布了2024年年度权益分派实施公告，主要内容如下：- 每股现金红利0.088元。- A股股权登 记日为2025年7月30日。- 除权（息）日及现金红利发放日为2025年7月31日。- 分配对象为截至股权登 记日下午上海证券交易所收市后在中国结算上海分公司登记在册的本公司全体股东，公司回购专用证券 账户持有的股份不参与利润分配。- 以公司享有利 ...

Core Insights - Faraday Future's (FF) sub-brand FX recently launched its first model, Super One, which has faced criticism for its design similarities to Great Wall Motors' premium brand, Wey's MPV model, the Gao Shan 9 [1][3] - FX Super One reportedly received authorization from Wey to purchase components for assembly in the U.S., marking Great Wall Motors as one of the four partner automakers in FF's China-U.S. automotive bridge strategy [1] - The Super One has garnered over 10,000 paid reservations in the U.S. by July 18, indicating a more successful reception compared to FF's previous model, FF91, which only delivered 5 units by November 2023 [7] Product Details - The Gao Shan series is a high-end MPV from Wey, featuring a plug-in hybrid powertrain, while Super One shares many design elements with the Gao Shan, including headlight shape, side waistline, and taillight design [3] - A notable distinction of Super One is the optional large display screen at the front, referred to as the Super EAI F.A.C.E system, which allows for personalized vehicle expressions [3] Financial Aspects - Prior to the launch of FX Super One, FF announced a financing round that raised $105 million, intended for the production and development of Super One, among other expenses [7]

1. Report Industry Investment Rating No relevant content provided. 2. Core Views of the Report - The foundation of economic recovery needs to be consolidated, and domestic demand restoration still requires policy support. Attention should be paid to the policy signals released by the Politburo meeting in July [1]. - The property market shows a weak performance, and the supply - demand sides are both weak. In the second half of the year, more active property - easing policies may be needed to release the demand for improved housing [2][3]. - The commodity futures market is generally rising, with black - series, new - energy materials, and building materials leading the gains. The "anti - involution" policy strengthens the supply - side contraction expectation and drives the industry valuation repair [7][106]. 3. Summary by Relevant Catalogs 3.1 Demand: New home sales increase month - on - month, and automobile consumption shows marginal improvement - New home sales: The transaction area of 20 - city commercial housing increased by 22% month - on - month and decreased by 7% year - on - year as of the week ending July 25. Second and third - tier cities had larger increases in new home sales, while first - tier cities decreased by 7% [13]. - Second - hand home sales: Among the monitored key cities, Beijing and Shanghai's second - hand home transaction areas increased by 4% and 3% month - on - month respectively, while Shenzhen and Hangzhou decreased by 13% and 15% [33]. - Automobile consumption: The average daily retail sales of passenger cars increased by 22.4% month - on - month and 14.3% year - on - year as of the week ending July 25. The national movie box office increased by 39.0% month - on - month, but was weaker than the same period last year. The national migration scale index decreased by 2.2% month - on - month [42]. 3.2 Production: Industrial production runs smoothly, and infrastructure construction starts remain strong - Mid - and upstream: As of the week ending July 25, the Tangshan blast furnace operating rate remained at 80.4%, the rebar operating rate rose by 1.0 pct to 43.9%, the PTA operating rate remained at 80.8%, the polyester filament operating rate in Jiangsu and Zhejiang decreased by 0.8 pct to 92.1%, and the petroleum asphalt plant operating rate decreased by 4.0 pct to 28.8% [49]. - Downstream: The operating rates of automobile all - steel tires and semi - steel tires decreased month - on - month, but the semi - steel tire operating rate was still at a seasonal high [49]. 3.3 Investment: Apparent consumption of rebar improves, and rebar prices continue to rise - Rebar: As of the week ending July 25, the apparent consumption of rebar increased by 5.0% month - on - month to 217 tons, and the rebar price increased by 4.3% month - on - month to 3433.2 yuan/ton [64]. - Cement: As of the week ending July 25, the cement price decreased by 1.9% month - on - month to 105.9 points. As of the week ending July 18, the cement shipping rate increased by 0.8 pct to 40.9%, and the cement inventory ratio increased by 0.8 pct to 62.3% [64]. 3.4 Trade: Port throughput increases, and export container shipping prices decline - Export: As of the week ending July 25, port container throughput increased by 2.6% month - on - month, higher than the same period last year. The CCFI composite index decreased by 3.2% month - on - month. The BDI index continued to rise, increasing by 10.9% month - on - month [73]. - Import: The CICFI composite index decreased by 0.5% month - on - month [6]. 3.5 Prices: Agricultural product prices decline, and black - series products lead the gains - CPI: The agricultural product wholesale price 200 index decreased by 0.2% month - on - month as of the week ending July 25. Pork, egg, and vegetable prices increased, while fruit prices decreased [7]. - PPI: The Nanhua industrial product price index increased by 4.2% month - on - month. Brent crude oil spot price decreased by 1.1% month - on - month, COMEX gold futures price increased by 1.3% month - on - month, and LME copper spot price increased by 2.4% month - on - month [7]. - Commodity futures: Polysilicon futures settlement price increased by 17.5%, industrial silicon futures settlement price increased by 9.0%, coking coal futures settlement price increased by 28.9%, coke futures settlement price increased by 13.8%, glass futures settlement price increased by 21.1%, and PVC futures settlement price increased by 6.5% [106]. 3.6 Interest - rate Bond Tracking: The cumulative issuance progress of replacement bonds this year exceeds 94% - Next week (July 28 - August 1): The planned issuance of interest - rate bonds is 5532 billion yuan, with a net financing of 4345 billion yuan. Among them, treasury bonds are planned to issue 1800 billion yuan with a net financing of 1600 billion yuan, local bonds 3372 billion yuan with a net financing of 2431 billion yuan, and policy - bank bonds 360 billion yuan with a net financing of 315 billion yuan [110]. - Issuance progress: As of July 25, the cumulative issuance progress of replacement bonds was 94.1%, that of new general bonds was 64.7%, and that of new special bonds was 59.0%. The cumulative net issuance progress of treasury bonds was 57.7%, and that of policy - bank bonds was 68.6% [8][114][116]. 3.7 Policy Weekly Observation - On July 21, the "Housing Rental Regulations" was announced to regulate the housing rental market [118]. - On July 23, a subsidy project for elderly care services for moderately and severely disabled elderly was launched [119]. - On July 23, the tax policy for goods in Hainan Free Trade Port at the time of full - island customs closure was released [120]. - On July 25, it was reported that the national general public budget expenditure in the first half of 2025 was 141271 billion yuan, a year - on - year increase of 3.4% [121]. - On July 22, Chengdu planned to cancel housing sales restrictions in batches and increase housing provident fund loan support [123]. - On July 24, Zhongshan introduced measures to promote the high - quality development of the real - estate market [124].

Core Viewpoint - The article discusses the significant impact of the Trump administration's tariff policies on Volkswagen, emphasizing the urgency for the EU and the US to reach a trade agreement to mitigate these effects [2][4]. Financial Performance - Volkswagen reported a revenue of €158.4 billion (approximately $185.7 billion) for the first half of 2025, remaining stable compared to the previous year, but operating profit fell by one-third to €6.7 billion (about $7.86 billion) [3]. - The decline in operating profit is attributed mainly to increased costs from US import tariffs, amounting to €1.3 billion (approximately $1.52 billion), along with an additional loss of €0.7 billion (around $0.82 billion) from restructuring and other expenses [5]. - The company has adjusted its full-year revenue forecast from a 5% increase to flat growth compared to last year, with an expected operating profit margin of 4% to 5%, down from a previous estimate of 5.5% to 6.5% [5][33]. Market Dynamics - Despite a 1.5% increase in global deliveries in the first half of 2025, Volkswagen's deliveries in the US dropped by nearly 10%, with North America accounting for 18.5% of the group's global sales [6]. - The performance of luxury brands under Volkswagen, such as Porsche and Audi, has been particularly poor, with Porsche's operating profit plummeting over 90% to €154 million and Audi's profit down 64% to €550 million [6][27]. Electric Vehicle Sales - Volkswagen has become the leader in the European electric vehicle market, surpassing Tesla, with a notable increase in sales of electric vehicles in Europe [6][8]. - In Germany, electric vehicle sales reached a record high in the first half of 2025, with a 35% year-on-year increase, totaling 249,100 units, despite a 4.7% decline in overall new car sales [8][9]. Tariff Negotiations - Volkswagen and its competitors are urging European trade negotiators to reach an agreement to lower the 25% US tariffs imposed since April [17]. - There is optimism that an agreement could be reached to impose a 15% tariff on most imported products, which would alleviate some financial pressure on the automotive sector [17][18]. - The company’s CFO indicated that if a deal similar to the US-Japan agreement is reached, profit margins could stabilize within the expected range [18]. Strategic Adjustments - Volkswagen is considering local production of Audi vehicles in the US and increasing exports from its Chattanooga plant to mitigate tariff impacts [31][26]. - The company is also exploring partnerships with Rivian and Xpeng to enhance product competitiveness, although new models from these collaborations are not expected until next year [34].

Macro Dynamics - Shanghai's "driverless taxi" service is entering a new phase, with plans for a direct route from Pudong Airport to Disneyland by July 2025, showcasing L4 autonomous driving capabilities in complex urban environments [1] - The initiative includes a long-distance shuttle line covering major transport hubs and tourist landmarks, providing valuable operational data for future commercial applications of autonomous driving [1] - Shanghai is rapidly advancing smart driving technology, with the establishment of 10 data-driven training models and a 100 km 5G-A vehicle network for real-world testing [1] Food Safety - The State Council's Food Safety Office has issued a notice to enhance daily supervision of food safety, particularly for infant food and disaster relief supplies [2] - Local food safety offices are required to increase inspections and take action against non-compliant food products, especially in disaster-affected areas [2] - The notice emphasizes the importance of timely communication and response to food safety issues, including monitoring public sentiment and clarifying misinformation [2] International Transit - Shenzhen has become the first city in China to implement international transit services at the Shekou Cruise Center, allowing travelers to efficiently complete transit procedures [3] - This initiative aims to enhance cruise services for international travelers, particularly those connecting to Southeast Asia and Japan [3] Education Reform - Peking University announced that from the 2025 academic year, GPA will no longer be used in academic evaluations, promoting a more diverse assessment approach [4] - The new evaluation system encourages students to explore interdisciplinary studies and challenging courses, with a pass/fail grading option introduced for certain classes [4] Medical Sector - South Korea is addressing a "resignation wave" among medical interns and residents by establishing a new negotiation mechanism to stabilize the healthcare system [5] - The government and medical representatives are set to hold weekly meetings to discuss solutions, although no agreements were reached in the initial meeting [5] Financial Institutions - Guotai Junan Securities has undergone a leadership change, with Han Hui appointed as the new head of the research institute, succeeding Shao Linlin [6][7] - Han Hui has extensive experience in the securities market, having held various senior positions within the company [7] Market Data - U.S. stock indices closed higher, with the Dow Jones up 0.47% and the Nasdaq rising 0.24%, while Tesla shares increased by over 3% [8] - Notable movements included gains in automotive and space-related stocks, while sectors like coal and semiconductors faced declines [8] Company Dynamics - Li Xiang, founder and CEO of Li Auto, has joined Douyin and will host his first live broadcast on July 29, attracting over 80,000 followers on the first day [9] - Pop Mart has filed a lawsuit against 7-Eleven in the U.S. for selling counterfeit versions of its LABUBU toys, following reports of fake products being sold [10][11] - The Beijing Customs reported seizing 53 batches of suspected infringing goods in the first half of 2025, including over 30,000 items related to Pop Mart [12] NASA Employment - Approximately 20% of NASA employees are expected to leave the agency, with around 3,870 departures anticipated, potentially reducing the workforce to about 14,000 [13] Airline Clarification - Hong Kong Airlines clarified that a recent incident involving a flight to Taipei was due to a miscommunication from the airport control tower, ensuring passenger safety [14] Autonomous Driving Regulations - California regulators confirmed that Tesla has not obtained the necessary permits to offer autonomous ride-hailing services, halting plans for a large-scale rollout [15]

Core Viewpoint - The collaboration between Dongfeng Motor Group and Yuchai Power aims to enhance their competitive edge in the commercial vehicle market by focusing on new energy, hybrid, and traditional power solutions while aligning with national carbon neutrality strategies [1][5][6]. Group 1: Strategic Collaboration - Dongfeng Motor Group's Commercial Vehicle Division and Yuchai Power signed a strategic consensus framework agreement to jointly explore the commercial vehicle market [1]. - Both parties will leverage their respective advantages and resources to develop and implement strategies that support China's "dual carbon" goals, promoting transformation in the commercial vehicle sector [6]. Group 2: Market Context - The current commercial vehicle market in China is highly competitive, with both vehicle manufacturers and the supply chain facing significant transformation challenges [3]. - The industry is characterized by a trend towards green, low-carbon, intelligent, and global development, with multiple technology routes coexisting, necessitating strategic choices regarding technology adoption [3]. Group 3: Areas of Focus - The discussions between Dongfeng and Yuchai covered various topics, including new energy vehicles, hybrid power, traditional power, alternative fuels, future emission regulations, and overseas market expansion [5]. - The collaboration aims to create new productive forces in the commercial vehicle field, addressing the pressing need for innovation and adaptation to regulatory changes [6].

IT之家 7 月 26 日消息，比亚迪股份有限公司 7 月 21 日发布了 2024 年度利润分配及资本公积金转增股 本实施公告，迎来上市以来最大分红，豪掷 120 亿元回报股东。 一、股东会审议通过权益分派方案情况 1、公司2024年度权益分派方案已获2025年6月6日召开的2024年度股东会审 议通过,股东会决议公告于2025年6月7日刊登在《证券时报》、《中国证券报》、 《上海证券报》、《证券日报》和巨潮资讯网(www.cninfo.com.cn)。具体权益 分派方案为:以第八届董事会第十七次会议召开日即2025年4月22日的公司总股 本3.039.065,855股为基数,向全体股东每10股派发现金红利人民币39.74元(含 税),现金红利总额约为人民币12,077,248千元,每10股送红股8股,以资本公 积金每10股转增12股;如实施权益分派股权登记日公司总股本发生变动,公司将 维持每股分派金额及送转比例不变,并相应调整分派及送转总额。 比亚迪 2024 年度权益分派方案为：公司以总股本 3,039,065,855 股为基数（其中 A 股 1,811,265,855 股， H 股 1,227,800 ...

来源|三言Pro 没想到一条"钓鱼"评论，竟引发两家车企高管隔空"呛声"。 01 理想副总裁称遭到"黑水军"抹黑，乐道总裁建议报警 7月24日，理想汽车副总裁刘杰在微博晒出一张截图，指控有人抹黑理想i8。 图中的评论称对理想i8和乐道L90进行了试驾，并对理想i8的表现提出了诸多批评，诸如 "试驾理 想这个i8和蔚来L90，i8就和坐船一样摇摇晃晃，完全没有蔚来L90稳当，所谓的智驾路上还差点撞 了。其他像空间、座椅都没有蔚来好" 等言论（笔者注：此处应为乐道L90）。然而，当时理想i8 尚未正式对用户开放试驾，按计划试驾要等到7月29日发布会后才会开展。 对此，刘杰质疑称，认为这是黑水军下一个抹黑理想的主要方向。 7月24日晚，乐道总裁沈斐在评论区回应： "建议直接报警！"。 02 沈斐喊话刘杰道歉 刘杰的言论虽未明确提及此事与乐道有关，但是因试驾言论对比车型为理想和乐道，这引发了两家 品牌用户间大量讨论。 7月25日，沈斐再次发文称："关于昨日（7月24日）建议'报警'之事，网友已查实源头并非乐道。 事实既明，建议刘杰大大方方向乐道和蔚来用户说声'对不起'，解开误会方显格局。" 同日，沈斐还转发了网友扒出 ...

2025世界人工智能大会7月26日在上海开幕。上汽智己汽车（联合享道出行）和上汽友道智途双双获颁 上海市新一批智能网联汽车示范运营牌照，上汽集团由此成为行业唯一一家获得乘用车和商用车领 域"双牌照"的企业。据了解，目前上汽智己Robotaxi 累计订单超过30余万单，自动驾驶行程高达数百万 公里。上汽友道智途聚焦行业领先的全栈自研智驾技术，截至目前洋山港智能重卡商业运营集装箱量已 突破50万标准箱。（证券时报） ...