11月20日，小鹏汽车首款超级增程车型X9在广州上市，该车定位中大型MPV，共推出Max版与Ultra版两个配置，官方指导价格分别为30.98万元、32.98万 元，并同步推出包含质保、选装、金融在内的上市权益。 空间设计上，三排电动三折叠功能带来2514L纯平储物空间，比腾势D9DM空间更大，适配性更强，但二排豪华配置相对克制，不及岚图梦想家PHEV的航 空级按摩座椅那般侧重豪华感。 小鹏X9增程版ENC+RNC双重降噪技术将增程器噪音控制在0.5dB以内，不过这类参数均基于理想工况，实际载重、高速行驶时的表现仍需市场验证。鲲鹏 超级增程系统虽参数亮眼，但缺乏长期市场验证的口碑基础。而增程车用户更看重"可靠性"，小鹏需要用更长周期证明其技术稳定性。 从产品力来看，小鹏X9的核心优势集中在续航与空间灵活性上。其搭载63.3kWh电池与60L油箱，实现CLTC综合续航1602km、纯电续航452km，这一数据 远超腾势D9DM、魏牌高山、岚图梦想家等主流竞品MPV。补能效率上，5C超充10分钟补能313km的表现，配合兼容92号汽油的特性，客观上缓解了家庭用 户的补能焦虑。 整体来看，小鹏X9以续航与性价比为矛 ...

Core Insights - The article discusses the rise and fall of Xia Haijun, a key figure in Evergrande Group, highlighting his strategic role during the company's expansion and subsequent financial crisis [1][3][4]. Group 1: Xia Haijun's Role in Evergrande's Growth - Xia Haijun joined Evergrande in 2007 as Vice Chairman and President, contributing significantly to the company's strategic planning and financial management [1][4]. - Under his leadership, Evergrande successfully went public in Hong Kong in November 2009, which marked a significant milestone for the company and its founder Xu Jiayin [6][10]. - The company experienced rapid expansion into various sectors, becoming the largest real estate company globally, driven by Xia's expertise [6][8]. Group 2: Financial Gains and Wealth Accumulation - Xia's income was closely tied to Evergrande's performance, with his annual earnings soaring from approximately 4.96 million RMB in 2008 to nearly 298 million RMB in 2018 [10][12]. - Over 13 years, Xia earned a total of 1.638 billion RMB from Evergrande, with over 1.4 billion RMB coming from salary alone [12]. Group 3: Crisis Management and Exit Strategy - As Evergrande faced a debt crisis starting in 2021, Xia's absence from key meetings raised suspicions about his involvement [14][16]. - Prior to the crisis, Xia executed a strategic sell-off of assets, including selling bonds and shares, totaling approximately 1.187 billion RMB, which was seen as a preemptive move to mitigate losses [19][23]. - Following the company's financial troubles, Xia was reported to have relocated overseas, with his whereabouts becoming a subject of investigation [25][28]. Group 4: Legal and Financial Investigations - After Evergrande entered liquidation, investigations revealed that Xia had significant assets hidden in the U.S., including properties and a trust fund managed by his wife [35][39]. - The Hong Kong High Court has initiated legal actions against Xia and others to recover potentially misappropriated assets, with a temporary injunction placed on his wife's assets amounting to 17 million RMB [43][45]. - Regulatory bodies in China have also indicated intentions to pursue legal actions against Xia, suggesting ongoing scrutiny of his financial dealings [49].

11月20日，小鹏X9超级增程正式上市。新车共推出Max版和Ultra版两个版本，官方指导售价分别为30.98万元和32.98万元。 小鹏X9超级增程以"大油箱+大电池"领先组合，实现CLTC综合续航1602km、纯电续航452km的双重突破。 面对能耗难题，小鹏X9超级增程以16.5kWh/100km的综合电耗，每公里成本不足传统燃油MPV的1/3。新车搭载800V混合碳化硅同轴电驱，在体积减少 30%的同时，还实现了CLTC工况93.5%的超高效率，即便电量剩余8%仍动力无衰减。小鹏X9超级增程不止能耗低，而且补能快，其搭载63.3kwh超快充磷酸 铁锂增程大电池，支持5C+800V超充倍率，10分钟即可补能313km，满足5天日常通勤需求。更值得一提的是，小鹏X9超级增程还兼容92号汽油。 小鹏X9超级增程搭载大电池，能实现90%用车场景都是静谧无感的纯电体验。增程器启动噪声≤0.5dB，振动传递路径优化30%，配合ENC（增程器主动 降噪）与RNC（整车主动降噪），让车内环境始终如纯电般宁静。 小鹏X9超级增程拥有行业首发三排电动三折叠，支持三排座椅四六分折叠纯平收纳;第三排的超大空间，座椅可放倒至1 ...

近日，恒大汽车发布公告称，公司已收到天津市滨海新区人民法院的裁决，法院正式受理债权人对恒大新能源汽车（天津）有限公司的破产及清算呈请。 这家公司是恒大天津工厂的拥有人，而天津工厂是恒大汽车唯一的生产基地，恒驰5就是从这里生产出来的。 恒大暴雷，前首富许家印2023年身陷囹圄。虽然许家印进去了，但江湖上一直都有他的传说。 近日，恒大汽车旗下多家子公司破产清算，每卖出一辆车就巨亏1亿元，许家印15字造车"真言"成行业笑柄。 1. 破产清算 随着许家印的被抓，恒大汽车一步步滑向万丈深渊。日前，恒大汽车又爆出令人绝望的坏消息。 其他的上海基地、广州基地等，基本上都是空壳。 事实上，这并非恒大汽车旗下资产首次进入破产清算程序。 今年4月份，其上海附属公司被指定管理人负责破产清算程序。今年6月份，广州中级法院裁定恒大广州公司破产重整，恒大南沙工厂的土地，也被收回去 了。 2. 造车"真言" 曾经的许家印，对造车也是野心勃勃。2017年胡润百富榜上，许家印以2900亿的身家，将王健林拉下马，首次成为中国首富。 彼时的恒大处于高光时刻，风光无限的许家印决定进入新能源汽车赛道。 房企跨界造车，本身就面临"假造车、真拿地"的质疑 ...

11月18日，阿维塔科技凭借数据治理与应用等方面的卓越实践和突出成果，荣获"数据管理百强企业"认证。这是继通过DCMM（数据管理能力成熟度 评估模型）三级稳健级认证之后，阿维塔再次在数据治理领域获得权威机构认证。 本次"数据管理百强企业"名录由中国电子信息行业联合会组织评选。作为新能源汽车制造领域的新实力企业，阿维塔从上万家参评企业中脱颖而出，展 现出了其在数据治理与应用方面的领先水平。 | 日本日期 | 发布 成 动 | 8000 | | --- | --- | --- | | ■■以及用户不可能用品。 | CARDAD DE BEAR | GODDE | | BBBBBBBBBBBBB | DOCADING BECONDORE BEBER | ■■■■ | | 日本日本文章 2000 | THERBERLEBOODSBER | @ D D D B | | BBBBBBBBBB | 【下面面 - D D C D B | ■■■■ | | O BEND ET ET ET BE DE B | AND BOODD BOS BE BERES BOODS BE IN BE | 型电器方式 | | DOMM . / D ...

Market Overview - The Hong Kong stock market experienced a decline, with the Hang Seng Index closing at 23,831 points, down 145 points or 0.61% [1] - The market turnover decreased to 82.799 billion, with net inflows of 484 million in the Hong Kong Stock Connect [1] - The US stock market also saw declines, with the Dow Jones down 1.07% and the S&P 500 down 0.83%, marking the fourth consecutive day of losses for both indices [2] Industry Insights - The report highlights the potential for investment in undervalued sectors, particularly in local real estate, software, and 5G concepts, which have shown significant declines [1] - The report emphasizes the importance of self-reliance in technology as a core theme for future growth in the Hong Kong market, suggesting that leading companies in AI, semiconductors, and industrial software may present long-term opportunities [3] - The automotive industry, particularly in electric vehicles, is noted for its rapid growth, with a significant increase in exports of new energy vehicles, which rose by 99.9% year-on-year [9] Company Highlights - Baidu Group is recognized for its advancements in AI and smart driving, with a reported revenue of 32.713 billion yuan in Q2 2025, despite a year-on-year decline of 3.59% [10] - Xiaomi Group reported a non-IFRS net profit increase of 80.9% year-on-year to 11.31 billion yuan in Q3 2025, exceeding expectations [11] - Xpeng Motors experienced a significant drop of over 10% in stock price, reflecting challenges in the electric vehicle sector [1][16]

11月18日，小鹏汽车港股盘中跌近11%，最低至85.5港元。港股新能源车企同步下跌，零跑汽车、蔚 来、长城汽车、理想汽车跟跌。 昨日小鹏汽车公布截至2025年9月30日止第三季度财务数据。今年第三季度，小鹏汽车总交付量为 116007辆，同比增长149.3%，环比增长12.4%，创下单季度交付量历史新高。 主要财务指标方面，第三季度小鹏汽车总营收为人民币203.8亿元，较2024年同期上升101.8%，并较 2025年第二季度上升11.5%，创下单季度历史新高。第三季度毛利率为20.1%，创下历史新高，同比增 长4.8个百分点。其中，汽车毛利率为13.1%，较2024年同期增长4.5个百分点。 （原标题：逆势拉升！A股这一概念，突然爆发！） 11月18日，外围市场全线大跌。A股方面，AI应用概念逆势走强；互联网电商板块上涨。 11月18日，A股三大指数低开后持续震荡调整，截至收盘，沪指跌0.81%，深证成指跌0.92%，创业板指 跌1.16%。 盘面上，网红经济、厨卫电器、AI语料、半导体等概念涨幅居前，电池、钢铁、能源金属、钛白粉、 磷化工、有机硅等板块跌幅居前。全市场成交额超1.9万亿元，较昨日放量超1 ...

Core Insights - Tesla's sales in China plummeted by 63.6% in October, marking a significant decline in its market position and raising concerns about its product competitiveness and strategic direction [1][2][3] Sales Performance - In October 2025, Tesla's retail sales in China were 26,006 units, a drastic drop from 71,525 units in September, and a decline of 43.9% compared to the same month in 2024 and 34.2% from 2023, setting a three-year low [2] - Tesla's market share in China's new energy market fell from 5.5% to 2%, dropping from 7th to 27th place [2] - The Model Y and Model 3, once key sales drivers, saw sales drop to 19,488 units (down 62%) and 6,518 units (down 68%) respectively [2] Global Market Trends - Tesla's sales decline is not limited to China; it is experiencing a systemic collapse globally, with a 36.3% drop in overall registrations in Europe despite a 36% increase in total electric vehicle sales [2][3] - In Sweden, Tesla's registrations fell by 88.7%, while sales in the UK, Germany, Norway, and Italy also halved [2][3] Competitive Landscape - The primary reason for Tesla's market share loss in China is the aggressive competition from local brands like BYD, Xiaomi, and Li Auto, which are rapidly innovating and offering superior features [4][5][6] - In Europe, local brands and Chinese competitors are gaining market share due to better product innovation and value for money, while Tesla's aggressive pricing strategy has negatively impacted its used car values [8] Strategic Response - In response to declining sales, Tesla has launched a revamped Model 3 in Europe and specific variants of the Model Y in China [10] - The company is also undergoing internal management changes, with key project leaders departing, indicating potential organizational challenges [11] - Tesla is accelerating the development of new low-cost models to regain entry-level market share and combat local competitors [11] Future Outlook - Elon Musk is focusing on the rollout of the Full Self-Driving (FSD) system in China, which could serve as a technological differentiator if regulatory approval is achieved [11][12] - Musk's broader strategy includes shifting the company's focus from traditional automotive sales to AI and robotics, positioning Tesla as a technology company rather than just an automaker [13]

北京商报讯（记者 和岳）11月17日，北京市统计局发布的北京经济运行情况显示，今年前10个月，全 市规模以上工业增加值按可比价格计算，同比增长6.9%，相比前三季度提高0.4个百分点。其中，10月 增长10.4%，环比提高1.3个百分点，主要受新能源汽车制造和电力行业带动。在重点行业中，计算机、 通信和其他电子设备制造业增长24.1%，汽车制造业增长15.9%，电力、热力生产和供应业增长4.7%， 医药制造业下降8.7%，五大装备制造业增长7.8%。规模以上工业战略性新兴产业、高技术制造业增加 值分别增长18%和9.5%（二者有交叉），新能源汽车、锂离子电池、服务机器人、风力发电机组产量分 别增长1.5倍、1.3倍、44.3%和40.1%。 今年前10个月，规模以上工业实现销售产值22416.3亿元，增长6.9%。其中，内销产值20663.9亿元，增 长6.9%；出口交货值1752.4亿元，增长6%。 ...

Core Insights - The report highlights the ongoing recovery in various sectors, particularly in the semiconductor, healthcare, and renewable energy industries, indicating a favorable investment environment for long-term strategies [4][21][24]. Domestic Market Performance - The Shanghai Composite Index closed at 3,990.49, down 0.97%, while the Shenzhen Component Index closed at 13,216.03, down 1.93% [3]. - The average P/E ratios for the Shanghai Composite and ChiNext Index are 16.52 and 50.18, respectively, suggesting a suitable environment for medium to long-term investments [7][9]. Industry Analysis - The semiconductor industry showed a significant year-on-year revenue increase of 6.07% in Q3 2025, with a notable profit growth of 48.93% [27]. - The healthcare and renewable energy sectors are experiencing strong performance, with specific focus on battery, medical, and photovoltaic equipment industries [8][11][12]. Investment Recommendations - The report suggests a balanced investment strategy focusing on cyclical and technology growth sectors, particularly in batteries, healthcare, and renewable energy [10][12][22]. - The mechanical industry is also highlighted for its steady growth, with a revenue increase of 5.98% year-on-year in Q3 2025, indicating a positive outlook for related investments [21]. Key Data Updates - The report notes that the North American cloud service providers have increased capital expenditures significantly, with a total of $96.4 billion in Q3 2025, reflecting a 67% year-on-year growth [30][31]. - The domestic semiconductor market is expected to see further price increases, particularly in DRAM and NAND Flash products, driven by rising demand from data centers and AI applications [29][28]. Sector-Specific Insights - The sports nutrition market in China is projected to grow at an annual rate of 11.56%, driven by an increasing number of fitness enthusiasts [18][19]. - The mechanical sector is witnessing a recovery, with traditional cyclical industries showing significant profit growth, while emerging sectors are beginning to show signs of improvement [21][22]. Conclusion - Overall, the report indicates a positive trend across multiple sectors, with specific recommendations for investors to focus on cyclical recovery and technology-driven growth opportunities, particularly in the semiconductor and renewable energy industries [4][21][24].