中国汽车工业协会11月11日发布数据显示，2025年10月份，我国新能源汽车产销同比保持快速增长，新 能源汽车新车销量达到汽车新车总销量的51.6%，占有率首次过半。 业内人士认为，今年以来我国新能源汽车继续实现较高增长，包括多方面原因。一方面，以旧换新补贴 政策持续显效，力度大，惠及面广，推动了新能源汽车市场较高增长。另一方面，明年新能源汽车购置 税减半征收，使得部分消费者存在提前购车现象，新能源汽车市场迎来新一轮的消费高峰。 此外，今年以来，我国新能源车企新品供给的持续丰富、产品技术的不断升级、补能体系的不断完善 等，也共同推动了新能源汽车市场实现较高增长。 在出口方面，今年1至10月份，新能源汽车出口201.4万辆，同比增长90.4%。这是历史上年度出口首次 超过200万辆。 多家车企新能源汽车交付量刷新纪录。10月，小鹏汽车交付新车4.2万辆，单月交付量创下历史新高， 并连续2个月超过4万辆。1至10月份，小鹏汽车累计交付35.52万辆，同比增幅高达190%。此外，零跑 10月交付量达7.03万辆，同比增长超84%，这也是零跑月交付量首次突破7万辆。 具体来看，今年1至10月份，我国汽车产销量分别完成 ...

除了在积分比例上做出调整，此次《通知》的最大亮点在于调整了新能源车型技术指标要求。 纯电动乘用车车型积分计算的公式中，新增了低温续驶里程调整系数，对低温续驶里程相比电动汽车续 驶里程(工况法)下降率低于35%的纯电动车型，给予1.2倍的鼓励系数。 对于燃料电池汽车的技术要求，需要与现行的产业政策技术条件协同，要求纯氢续航里程不低于 300km，燃料电池系统额定功率不低于驱动电机额定功率的50%且不小于50kW。同时新增两项要求， 包括燃料电池系统启动温度不高于-30℃，燃料电池堆额定功率密度不低于3.0kW/L，系统额定功率密度 不低于400W/kg。 业内专家认为，这些技术指标要求，有助于引导车企积极改进提升产品，特别是提升新能源汽车在低温 条件下的运行。 为适应节能与新能源汽车产业发展需要，按照《乘用车企业平均燃料消耗量与新能源汽车积分并行管理 办法》等要求，工业和信息化部近日印发《关于2026—2027年度乘用车企业平均燃料消耗量与新能源汽 车积分管理有关事项的通知》(下称《通知》)，明确2026—2027年度新能源汽车积分比例、新能源汽车 车型积分计算方法等要求。 通知主要调整包括三方面：一是明确新能 ...

（文章来源：国际金融报） 近日，零跑旗下全新纯电轿跑Lafa 5也正式开启预售，新车共推出5款车型，预售价在10.58万- 13.18万 元间，计划本月底上市，明年开始逐步登陆全球市场。 和6年前首次尝试运动轿跑时相比，高级副总裁曹力直言"想法完全不一样"。 他说做S01的时候是觉得做轿跑挺酷的，是不是有用户喜欢没有考虑那么多，但是现在做Lafa5，零跑已 经拥有了100万用户，非常清楚地知道用户喜欢什么，什么是刚需，哪些是补充型和个性化的。他说当 下是基于零跑完成实用量化布局后，开始补充个性化诉求，"这个时候想法和原来的完全不一样。" ...

【#我国新能源汽车销量占比首次超50%#】中国汽车工业协会今天（11日）发布的最新数据显示，今年 1至10月份，我国新能源汽车产销量继续实现较高增长。其中，10月份新能源汽车月度新车销量首次超 过了汽车新车总销量的50%。 最新数据显示，今年1至10月份，我国汽车产销量分别完成2769.2万辆和2768.7万辆，同比增长均超过 10%。其中，新能源汽车产销量分别完成1301.5万辆和1294.3万辆，同比分别增长33.1%和32.7%。值得 注意的是，10月份新能源汽车月度新车销量，首次超过了汽车新车总销量的50%，达到51.6%。在出口 方面，今年1至10月份，新能源汽车出口201.4万辆，同比增长90.4%。 中国汽车工业协会副秘书长陈士华表示，今年以来，新能源汽车继续实现较高增长，一方面是国内汽车 以旧换新补贴政策持续显效，力度大，惠及面广，推动了新能源汽车市场较高增长。另一方面明年新能 源汽车购置税减半征收，使得部分消费者存在提前购车现象，新能源汽车市场迎来新一轮的消费高峰。 专家同时表示，今年以来，我国新能源车企新品供给的持续丰富、产品技术的不断升级、补能体系的不 断完善等，也共同推动了新能源汽车市 ...

"金九银十"购车季过后，新能源汽车市场热度不减，反而因一项进入倒计时的政策再掀热潮。近日，工 业和信息化部发布2025年第33号公告，其附件《减免车辆购置税的新能源汽车车型目录（第二十三 批）》正式发布。面对明年起新能源汽车购置税优惠调整——符合条件的新能源车辆购置税减免额减 半，一场消费者与时间赛跑、车企全力促销的"免税末班车"行情或将上演。 中央财经大学副教授刘春生在接受《证券日报》记者采访时表示，这一调整清晰体现了产业政策从"普 惠培育"向"精准引导"的转变：初期全额免税是为了迅速壮大产业规模，如今与技术标准挂钩的减半征 收，更注重"扶优汰劣"，促使落后产能退出，引导行业聚焦高质量发展。 全国工商联汽摩配商会常务会长、全联汽配展组委会主任应慧鹏认为，我国新能源汽车产业成熟度显著 提升，已从培育期进入规模化发展阶段。此时进行购置税政策调整，顺应了产业发展规律，规范了产业 竞争秩序。 销售端冲刺 "免税末班车" 在销售端，政策信号的放大效应十分显著。 记者线下走访北京市朝阳区某商场的新能源车区域时发现，多家车店都将宣传明年即将调整购置税的相 关广告放置在店门外醒目位置。"如果消费者不知道即将调整购置税的消息 ...

深圳商报·读创客户端记者 吴素红 李丹 通讯员 黄海贵 文/图 11月18日至30日，"畅享湾区宝安跨年消费季暨2025年福永新消费嘉年华"活动将启幕。 这场为期13天的消费盛宴，以创思中心焕新开业、怀德万象汇新场亮相为契机，聚焦新能源汽车、家 居、餐饮、娱乐等特色消费板块，结合消费抽奖、地图打卡、全域宣传等创新玩法，打造福永商业新名 片，为市民带来"有奖、有料、有趣、有爱"的消费体验。 作为宝安区乃至大湾区的产业重镇和交通枢纽，福永街道凭借其独特的区位优势、雄厚的产业基础和日 益完善的商业配套，正迅速成为湾区消费的新热土。这里不仅坐拥国际空港，能高效连通世界，更汇聚 了高端制造、科技创新与现代服务业的精华。本次嘉年华活动，正是福永街道立足湾区视野，推动消费 能级跃升，展现其"宜居、宜业、宜游"现代化城区魅力的重要举措。 本次活动由深圳市商务局支持，深圳市宝安区商务局指导，深圳市宝安区福永街道办事处、深圳市怀德 股份合作公司主办，深圳市零售商业行业协会、深圳市怀德商业管理有限公司承办。 双核驱动+全域联动，构筑多元消费场景矩阵 本次活动的核心分会场——由怀德股份倾力打造的怀德万象汇，作为福永的商业旗舰，将携众 ...

证券日报网讯 溯联股份11月11日在互动平台回答投资者提问时表示，小鹏汽车一直是公司的重要客 户，公司与小鹏整车、小鹏汇天、小鹏电池等板块均有深度合作，产品基本涵盖其所有车型，且均有量 产定点项目。 （编辑 姚尧） ...

Group 1 - UBS's report predicts that the S&P 500 could reach 7500 points driven by AI breakthroughs, corporate earnings growth, and expectations of Federal Reserve rate cuts [1] - There is a notable divergence between the bullish sentiment in the market and the actual flow of institutional funds, with hedge funds showing a record low in long-short positions despite rising stock prices [1][4] - The distinction between "allocation funds" and "trading funds" is becoming blurred, with public funds trading more frequently than speculative funds [4] Group 2 - The current market dynamics suggest that ordinary investors may misinterpret their participation in value investing, potentially getting caught in high-frequency trading instead [4] - Recent data indicates that while AI stocks are experiencing a surge, institutional inventory for some leading stocks is quietly declining, signaling a potential shift in market sentiment [11] - The "China+1" strategy reflects a structural change in international capital flows, indicating a shift along the supply chain rather than a simple withdrawal from China [11] Group 3 - The low valuation of A-shares is widely recognized, but foreign investors are more focused on the arbitrage opportunities presented by historically low implied volatility [13] - The unique appeal of China's policy toolbox is highlighted, especially as the Federal Reserve's rate cut expectations reach their limits, leaving the Chinese central bank with more policy space [13] - The restructuring of the supply chain may benefit high-end manufacturing companies in China as Southeast Asia rises [13] Group 4 - Investors should abandon the fixation on specific index levels like 7500 or 8000 points and instead focus on sectors that can consistently attract institutional inventory [13] - Modern institutions employ a multi-dimensional strategy that includes hedging and cross-market arbitrage rather than solely taking long positions [13] - Embracing quantitative thinking is essential as fundamental analysis becomes less reliable, with data providing a more truthful representation of market conditions [13]

Core Points - The visit of King Felipe VI of Spain to China marks a significant diplomatic engagement, being his first state visit to China since ascending the throne and the first by a Spanish monarch in 18 years, highlighting the strengthening of Sino-Spanish relations [3][4] - The visit coincides with important historical milestones, including the 50th anniversary of China-Europe diplomatic relations and the 20th anniversary of the comprehensive strategic partnership between China and Spain, suggesting a renewed commitment to high-level development in bilateral relations [3][4] - The choice of Chengdu as the first stop indicates a strategic focus on enhancing cooperation beyond political dialogue, aiming to foster people-to-people exchanges and economic ties [8][9] Summary by Sections Diplomatic Significance - The visit is seen as a signal of political trust and a broader consensus on strengthening dialogue and cooperation between Spain and China, extending beyond government levels to societal engagement [7][8] - Spain's Prime Minister Sanchez previously emphasized the importance of Spain as a geopolitical bridge between China, Europe, and Latin America, advocating for open trade and multilateralism [4] Economic Relations - In 2022, trade between China and Spain reached $50.1 billion, with Chinese investments in Spain amounting to nearly €11 billion, doubling the investment from the previous eight years [8][9] - Chengdu plays a crucial role in this relationship, with the establishment of the Spanish consulate in the city and the launch of direct flights to Madrid, enhancing connectivity and trade opportunities [9][15] Cooperation Areas - Recent contracts worth $300 million have been signed in sectors such as new energy vehicle batteries and agricultural products, indicating a growing economic partnership [16] - Collaborative efforts in technology and innovation are highlighted, with both regions focusing on clean technology, sustainable energy, and biomedicine, showcasing a shift from strategic consensus to tangible outcomes [18][19]

Core Viewpoint - Shenxiang Technology Co., Ltd. has submitted its IPO application to the Hong Kong Stock Exchange, aiming to raise funds primarily for R&D, sales and service network expansion, infrastructure development, and general corporate purposes [1] Group 1: Company Overview - Shenxiang Technology was established in July 2020 and began generating revenue in 2023 [1] - The company specializes in new energy heavy trucks and intelligent road freight solutions, focusing on the trunk road freight sector, which accounts for over 50% of transportation capacity [2] - The company has delivered a total of 509, 3,002, and 2,873 new energy heavy trucks in 2023, 2024, and the first half of 2025, respectively [2] Group 2: Financial Performance - Revenue for Shenxiang Technology during the reporting period was 0, 426 million, 1.969 billion, and 1.506 billion yuan, with corresponding losses of 267 million, 389 million, 675 million, and 371 million yuan [4] - Cumulatively, the company has incurred losses exceeding 1.702 billion yuan over three and a half years [4] - Despite a significant revenue increase of 362.5% in 2024, the net loss expanded from 389 million yuan to 675 million yuan, indicating a situation of "increased revenue without increased profit" [4] Group 3: Revenue Sources and Dependency - Almost all revenue during the reporting period came from new energy heavy truck sales, with revenue contributions of 0%, 99.9%, 99.6%, and 99.4% respectively [3] - The company heavily relies on two mass-produced models, Shenxiang Xingchen and Shenxiang Xingtong, with the majority of sales coming from Shenxiang Xingchen [3] - As of the first half of 2025, Shenxiang Technology had delivered products to 311 customers and held approximately 1,400 vehicles in hand orders [3] Group 4: Supplier and Customer Relationships - The company has a high dependency on a limited number of suppliers and customers, with the top five suppliers accounting for 48.1%, 88.1%, 92.3%, and 83.1% of total procurement during the reporting period [5] - The first major customer, "Customer A," is also a subsidiary of the main supplier, "Supplier A," indicating overlapping relationships [6] - Revenue from the top five customers represented 0%, 82.5%, 50.7%, and 51.4% of total revenue during the reporting period [5] Group 5: Financial Health - Shenxiang Technology's asset-liability ratio exceeded 100% throughout the reporting period, with total assets of 508 million, 1.348 billion, 2.556 billion, and 3.92 billion yuan, and total liabilities of 691 million, 1.92 billion, 3.804 billion, and 5.539 billion yuan [7] - Trade and other receivables increased from 39.4 million yuan at the end of 2022 to 1.415 billion yuan by mid-2025, primarily due to rapid sales growth of new energy heavy trucks [8]