Core Insights - The popularity of SUV models in China's automotive market is increasing due to more frequent family outings and the rising penetration of new energy vehicles [2][3] - In the first half of this year, China's narrow passenger car market retail volume reached 10.902 million units, a year-on-year increase of 10.8%, with SUV retail volume at 5.358 million units, up 11.2% [2] - The launch of new models, such as BYD's Haijun 06, is intensifying competition in the SUV market [2][4] Market Trends - The SUV market is becoming a mainstream choice for consumers, with retail sales expected to reach 11.311 million units in 2024, a year-on-year growth of 9.7% [3] - In 2023, SUV sales surpassed sedans for the first time, indicating a strong consumer preference for the space and functionality offered by SUVs [3] - The mid-size SUV segment is currently a focal point for competition among domestic brands, with several new models launched in 2024 [3] Product Features - The Haijun 06 is designed to meet consumer demands for comfort, intelligence, safety, and economy, featuring amenities like a dual-use car refrigerator and multiple safety airbags [4] - The increasing availability of new energy mid-size SUVs is expected to accelerate the electrification and intelligence penetration in the SUV market [5] Brand Strategy - The launch of Haijun 06 is not only a product upgrade but also a strategic move to clarify brand architecture, positioning it as a counterpart to BYD's popular Song PLUS model [6] - The Song PLUS has achieved significant market success, with cumulative sales exceeding 1.3 million units since its launch in 2020, making it a leading model in BYD's SUV lineup [6] - The Haijun 06 is seen as a key player in integrating product systems and driving brand upgrades within BYD's Ocean Network [6]