Core Viewpoint - GAC Trumpchi has launched the new mid-to-large plug-in hybrid SUV, Trumpchi Xiangwang S9 Qiankun, targeting family users with a price range of 229,900 to 259,900 yuan, which is 30,000 yuan lower than the pre-sale price [1] Group 1: Product Features and Market Positioning - The Xiangwang S9 is positioned as the flagship SUV of the Xiangwang series, with dimensions of 5060mm×1950mm×1760mm and a wheelbase of 2930mm, comparable to competitors like the Aion M7 and Li Auto L7 [1] - GAC Trumpchi aims to enhance product competitiveness through a "low price, high configuration" strategy, as the brand's recognition is still lower than that of Aion M7 and Li Auto L7 [4] - The Xiangwang S9 features advanced intelligent driving technology, including the Huawei Qiankun Intelligent Driving ADS 4 Max system, which is equipped with 29 perception units and various radar systems for comprehensive driving assistance [4] Group 2: Strategic Goals and Future Plans - The Xiangwang series represents GAC Trumpchi's commitment to brand elevation and aligns with GAC Group's "Panyu Action" strategy, focusing on electrification, intelligence, and premiumization [5] - GAC Group aims for its self-owned brand sales to account for over 60% of total sales by 2027, targeting 2 million units in sales for self-owned brands [5] - By 2025, GAC Group plans to launch seven new models under its self-owned brand, aiming for a sales target of 1 million units and striving for a break-even point for large-scale self-owned operations [5]

Core Insights - GAC Trumpchi's new mid-to-large plug-in hybrid SUV, the Xiangwang S9 Qiankun, was officially launched on September 19, targeting family users with a price range of 229,900 to 259,900 yuan, which is 30,000 yuan lower than the pre-sale price [2][3] - The Xiangwang S9 is part of the high-end "Xiangwang" series developed in collaboration with Huawei and CATL, aiming to penetrate the mainstream mid-to-high-end market with advanced technology [2][3] Product Features - The Xiangwang S9 features the Huawei Qiankun Intelligent Driving ADS 4 Max system, which includes 29 perception units, 192-line LiDAR, and 3 4D millimeter-wave radars, achieving a 50% reduction in end-to-end latency and a 20% increase in traffic efficiency [2][3] - It is equipped with a 44.5 kWh CATL Xiaoyao super hybrid battery, offering a pure electric range of 252 km, the longest in its class, and a total range exceeding 1,200 km [2][3] Market Context - The mid-to-large SUV market is experiencing significant growth, with projected retail sales of 1.646 million units in 2024, a year-on-year increase of 52.5% [3] - Nearly 20 new mid-to-large SUV models have been launched this year, indicating intense competition for the Xiangwang S9, which will compete with models like Li Auto L6 and Aito M7 [3][4] Company Strategy - GAC Trumpchi is undergoing internal reforms to enhance operational efficiency and is actively seeking new growth opportunities through collaborations with Huawei and CATL [5] - Despite a decline in sales, with a total of 197,000 units sold from January to August, down 18.7% year-on-year, the Xiangwang S9 is seen as a potential driver for GAC Trumpchi's recovery [5]