奕派科技以"奕派"命名，而非选择以纳米、风神命名，抑或另起新名，这一决策引发了汽车业内的关注及猜想，其中关于东风自主品牌将合并的猜测尤为热 烈。有行业媒体报道称，随着奕派科技的成立，纳米品牌或将纳入旗下管理，而风神品牌则暂时保持独立运营。针对这一品牌整合的消息，上述东风集团人 士回应称："此次成立新公司主要是为了聚焦新能源转型，至于品牌是否整合，目前暂无相关信息可披露。" 近年来，中国汽车行业告别了"规模扩张"的阶段，转而朝着"质量提升"的方向转变。在这一转变过程中，资源整合和战略聚焦对车企的长远发展而言至关重 要。东风集团成立奕派科技，或是为了顺应这一趋势。 在行业内，类似的案例已有多个。今年2月，在极氪和领克完成合并后，新的极氪科技集团宣布成立。按照规划，极氪科技集团将基于"极氪汽车+领克汽 车"的双品牌战略，实行双品牌驱动、强产品线矩阵的组织运作模式，全面整合制造体系、供应链等中后台组织以及海外组织，并通过AI赋能，构建更具竞 争力的一体化强强联合体。 东风集团表示，未来，新公司作为其在自主乘用车领域的重要布局，将依托东风集团的品牌实力、技术积累和产业链布局，推进品牌、渠道持续优化，以用 户为中心，提供 ...

● 本报记者 刘丽靓 日前，中国证券报记者跟随国务院国资委新闻中心主办的"走进新国企——品牌引领·智链未来"活动来 到"中国车谷"——武汉经开区，实探东风汽车东风猛士科技用户体验中心、东风岚图智慧工厂与东风汽 车全球创新中心，零距离感受"智造"实力与前沿技术布局，见证东风汽车向新能源车"百万辆"目标全速 进发。 持续完善品牌矩阵 在东风岚图智慧工厂，工业机器人在数字化指令下默契协同。大屏幕上实时跳动的数据流，将轿车、 MPV、SUV等多种车型的生产进度清晰呈现。在大数据算法的调度下，生产线精密运转，平均每118秒 就有一辆崭新的汽车驶下生产线。 东风汽车相关负责人介绍，公司持续完善乘商并举的品牌矩阵。在自主乘用车领域，东风汽车布局完成 猛士、岚图、奕派、风神、纳米等品牌，覆盖豪华、高端、主流各细分市场。 今年以来，东风汽车旗下产品全速推新：东风猛士推出全球首款搭载华为乾崑智驾系统的豪华智能越野 SUV——M817，东风岚图新车FREE+即将开启预售，全新岚图梦想家上市后迅速登顶新能源MPV销量 榜，东风风神L8搭载东风马赫电混PHREV和东风天元智舱，已开启万里长测，将于年中投放市场…… 数据显示，今年1-5 ...

Core Insights - Dongfeng Motor is actively developing its new energy vehicle strategy, showcasing a comprehensive strategic layout that adapts to the transition towards new energy [1] - The company aims to achieve a target of 1 million new energy vehicles, supported by a strong product matrix and technological advancements [1][2] Group 1: Sales and Market Performance - In the first five months of this year, Dongfeng Motor delivered a total of 905,000 vehicles, with 536,000 from its own brands, and achieved the highest market share in the domestic heavy truck sector [1] - Exports reached 94,000 units, marking a year-on-year increase of 4.9%, with exports of its own brands and new energy vehicles growing by 30% and 331% respectively [1] Group 2: Product Development and Technological Advancements - Dongfeng has launched several new products, including the luxury smart off-road SUV M817 and the Lantu FREE+, which features Huawei's ADS 4 and HarmonySpace 5 [2] - The company has established a comprehensive power brand system covering energy-saving, hybrid, and pure electric vehicles, along with three major passenger car platforms [2] Group 3: Innovation in Hydrogen Energy - Dongfeng holds the highest number of invention patents in the hydrogen energy sector and has developed the first full-power fuel cell passenger vehicle in China [3] Group 4: Industry Chain and Ecosystem Layout - The company is focused on controlling core resources in the new energy vehicle industry chain, achieving significant sales in pure electric drive assemblies and breaking foreign monopolies in IGBT technology [4] - Dongfeng is also building a smart charging ecosystem and has launched advanced charging stations, promoting battery operation and recycling initiatives [5] Group 5: Brand Development and Recognition - Dongfeng Motor has improved its ranking in the central enterprise brand construction report, now positioned 7th overall and maintaining the top spot in the automotive industry for four consecutive years [5]

Core Viewpoint - The emergence of "zero-kilometer used cars" in the Chinese automotive market is a response to inventory pressure and sales targets faced by manufacturers and dealers, leading to significant price reductions in the second-hand car market [2][3][24]. Group 1: Definition and Characteristics - "Zero-kilometer used cars" refer to vehicles that have completed registration but have extremely low mileage, often less than 100 kilometers, making them almost new [2][21]. - These vehicles are typically sold by manufacturers directly to used car dealerships, which then resell them to consumers [6][12]. Group 2: Market Dynamics - The current market for "zero-kilometer used cars" is driven by a price war and an imbalance in supply and demand, with these cars serving as a "release valve" for manufacturers and dealers to manage excess inventory [3][24]. - The sales volume of "zero-kilometer used cars" is estimated to account for 5%-10% of the total used car market, translating to approximately 1-2 million units based on projected total used car transactions in 2024 [21][24]. Group 3: Sources and Distribution - The sources of "zero-kilometer used cars" include excess inventory from 4S dealerships, vehicles from rental companies, and those produced to exploit subsidy loopholes [14][15]. - Many used car dealers find it challenging to access these vehicles directly from manufacturers, often relying on established relationships or group purchases to acquire them [15][16]. Group 4: Market Impact - The rise of "zero-kilometer used cars" is expected to intensify competition in the used car market, particularly affecting the sales of "quasi-new cars" [27][28]. - The phenomenon may lead to a decline in the perceived value of traditional used cars, as consumers may prefer the nearly new condition of "zero-kilometer used cars" at similar price points [28][29]. Group 5: Regulatory Considerations - Experts suggest that the lack of regulatory measures for "zero-kilometer used cars" could lead to potential market manipulation, and there are calls for improved oversight from government bodies [32][33]. - Recent discussions among industry stakeholders, including the Ministry of Commerce, aim to address the implications of "zero-kilometer used cars" on the market [33].

Core Viewpoint - Dongfeng Motor Corporation is advancing its transformation in the new energy vehicle sector, showcasing its capabilities in smart manufacturing and a comprehensive brand matrix across various vehicle categories [3][5]. Group 1: Smart Manufacturing and Production - The Dongfeng Lantu smart factory utilizes 5G and big data technologies to achieve mixed-flow production of various vehicle types, with a new car rolling off the line every 118 seconds [1][3]. - The factory is recognized as a national-level smart manufacturing demonstration site, highlighting the integration of advanced technologies in automotive production [1]. Group 2: Sales and Market Performance - In the first five months of this year, Dongfeng delivered 905,000 vehicles, with 536,000 from its own brands, and achieved a 4.9% year-on-year increase in exports, totaling 94,000 vehicles [5]. - The company reported significant growth in exports of its own brands and new energy vehicles, with increases of 30% and 331% respectively [5]. Group 3: Product Development and Innovation - Dongfeng is accelerating the launch of new products, including the M817 SUV with Huawei's advanced driving system and the Lantu FREE+ with cutting-edge technology [5][9]. - The company has established a comprehensive powertrain brand structure, including energy-efficient, hybrid, and pure electric systems, and has made significant advancements in hydrogen energy technology [7][8]. Group 4: Strategic Partnerships and Technological Advancements - Dongfeng has signed a strategic cooperation agreement with Huawei to enhance automotive intelligence and digital transformation, focusing on smart cockpits and intelligent vehicle control [9]. - The company is developing a comprehensive ecosystem for new energy vehicles, including battery recycling and smart charging infrastructure [8].

点 击 蓝 字 关 注 我 们 乘联分会&I.S. E安路勤 2 大改款(MCE3):指车型的模具和动力都进行改变。 价格调整(MSRP):现有车型官方指导价的变动。 | | 目录 1 | | | | | | --- | --- | --- | --- | --- | --- | | 序号 | 生产厂商 | 子车型 | 上市时间 | 细分市场及车身结构 | 工程更改规模 | | 1 | 长安汽车 | 深蓝 S07 | 2025 / 05 / 24 | B SUV | NM | | 2 | 东风乘用车 | 东风风神 奕炫 | 2025 / 05 / 24 | A NB | MCE1 | | 3 | 上汽通用 | 凯迪拉克 XT4 | 2025 / 05 / 25 | A SUV | MCE1 | | র্ব | 蔚来汽车 | 蔚来 ET5 | 2025 / 05 / 25 | B NB | MCE2-1 | | 5 | 蔚来汽车 | 蔚来 ET5T | 2025 / 05 / 25 | B Wagon | MCE2-1 | | 6 | 上汽大众 | 大众 凌渡L | 2025 / 05 / 26 | A NB ...

机构：中信建投证券 研究员：程似骐/陶亦然/胡天贶 核心观点 2024 年经营边际改善，自主品牌、新能源车占比提升。自深化改革以来，公司总部转型为"运营+统 筹"模式，推行"PM 项目管理制"和"对赌激励"，将车型销量与团队薪酬、晋升绑定，2024 年实施对赌 项目12个，覆盖1100 余人次，实施"双目标考核"（当期业绩+中长期能力建设），通过月度"红黑榜"强 化压力传导。 2024 年集团销量迎来了3 年来的首次正增长，2024 年实现销量248.06 万辆，同比增长2.5%，预计全年 自主品牌销量达到137 万辆，同比增长34.4%，全年新能源车销量约86 万辆，同比增长70.9%，远超行 业增速。根据2025 年经营工作会，首先公司转型将全面提速，继续发力岚图、奕派等自主品牌；其 次，强化结构调整，对内部业务优化整合，砍掉亏损业务线；再者，补齐运营管控能力，在生产管理、 供应链管理、销售服务等方面下功夫；最后，持续加强科技创新，加强与华为等优质企业的合作。 经营管理的变化始于2023 年以来股东、董事会和高管的调整，2025 年"央企重组"有望加速公司变革。 2025 年2 月，公司接到控股股东东风公 ...

产业观察 [table_Header]2025.05.20 【智能车产业跟踪】卡尔动力获 3 亿元 A 加 轮投资，加速自动驾驶重卡货运商业化 产业研究中心 摘要：产业最新趋势跟踪，点评产业最新风向 [Table_Summary] 信息速递 5 月第 2 周（5/5-5/11）品牌终端销量榜前三名为比亚迪（6.91 万辆，环比 16.53%）、大众（4.59 万辆，环比 10.07%）、丰田（3.15 万辆，环比-2.48%）。 新车发布： 5/10-5/16 发布的新车：蔚来新 EC6、ES6，东风风神 L7 纯电版，长城魏牌高 山 8、高山 9。 锂电资讯 据 Wind，SMM 数据，近期电芯、模组、PACK 价格平衡震荡，电池级碳酸锂 价格继续下行，5 月 16 日均价报 6.45 万元/吨 。预计碳酸锂价格整体仍将呈 现易跌难涨的低位震荡走势。 汽车周度销量榜： 5 月第 2 周（5/5-5/11）新势力终端销量榜前三名为理想（0.82 万辆，环比-28.1%）、 零跑（0.78 万辆，环比 25.8%）、问界（0.75 万辆，环比 11.9%）。 投融资事件 2025 年 5 月 10 日至 5 月 ...

撰 文 / 牛跟尚 设 计 / 师 超 "把产品成功作为第一位"——董事长、党委书记邱现东在2月17日举行的中国一汽2025年产品工作 部署大会上强调。 据2024年乘用车批发数据，红旗H5为148793辆，轿车榜排名22；红旗E-QM5为81506辆，轿车榜排 名44；奔腾小马为57863辆（7个月），轿车排名50位；红旗HS5为94900辆，SUV榜排名34。 据统计，2024年，中国车市有销量1辆的轿车218款、SUV371款。 汽车商业评论认为，如果进不到前 50名——轿车60000辆、SUV70000辆，则很难生存。 如果按自主车型月均销5000辆算自主爆款，月均销1万辆算主流爆款的话，红旗有一款主流爆款、 两款自主爆款，奔腾有一款自主爆款。 邱现东强烈意识到，产品工作是事关全集团发展、全体干部职工切实利益的大事要事。 在2月17日全体领导班子和总监、高级经理特别是"各产品线CEO及技术平台CEO"参加这场以产品 工作的大会上，这位从东风汽车集团股份有限公司副总裁升任中国一汽副总经理、总经理、董事长 的企业一把手强调："各产品线CEO、各领域一把手等要加强重点工作任务的日常管理"，以产品为 主线，以 ...