【导读】岚图汽车递表港交所，以介绍上市方式登陆港股再进一步 近日，岚图汽车正式递表港交所，拟以介绍上市方式登陆港股。若能成功上市，岚图汽车将是央国企新能源转型发展的一次重大创新和有益探索。 岚图汽车是央企东风公司旗下高端智慧新能源汽车品牌，也是首个达成20万辆整车下线的央国企高端新能源汽车品牌，2022年至2024年在中国高端新能源 汽车品牌的销量增速排名前三。 这凸显了岚图汽车在新能源汽车产业反"内卷"方面取得成效。岚图汽车董事长、总经理卢放表示，反"内卷"是企业经营的必选项，关系到企业能否持续为 用户提供优质服务。 同时，盈利是车企走向正向循环、实现高质量发展的重要指标。岚图汽车成为第5家实现季度、半年度盈利的新能源车企，其他4家分别是比亚迪、赛力 斯、理想汽车、零跑汽车。 岚图汽车凸显反"内卷"成效 相继实现季度、半年度盈利 2024年第四季度，岚图汽车首次实现季度盈利。根据灼识咨询的资料，岚图汽车是最快实现单季度盈利的新能源车企，也是经营现金流转正最快的新能源 车企。 目前，新能源车企仅有5家实现季度盈利，其中零跑汽车也在2024年第四季度首次实现季度盈利。 区别在于，岚图汽车未披露2024年第四季度 ...

【导读】岚图汽车递表港交所，以介绍上市方式登陆港股再进一步 近日，岚图汽车正式递表港交所，拟以介绍上市方式登陆港股。若能成功上市，岚图汽车将 是央国企新能源转型发展的一次重大创新和有益探索。 岚图汽车是央企东风公司旗下高端智慧新能源汽车品牌，也是首个达成20万辆整车下线的央 国企高端新能源汽车品牌，2022年至2024年在中国高端新能源汽车品牌的销量增速排名前 三。 这凸显了岚图汽车在新能源汽车产业反"内卷"方面取得成效。岚图汽车董事长、总经理卢放 表示，反"内卷"是企业经营的必选项，关系到企业能否持续为用户提供优质服务。 同时，盈利是车企走向正向循环、实现高质量发展的重要指标。岚图汽车成为第5家实现季 度、半年度盈利的新能源车企，其他4家分别是比亚迪、赛力斯、理想汽车、零跑汽车。 区别在于，岚图汽车未披露2024年第四季度的盈利数据，但是其在2025年前7月的净利润为 4.79亿元，成为第5家实现半年度盈利的新能源车企。 | | 截至12月31日止年度 | | | 截至7月31日止七個月 | | | --- | --- | --- | --- | --- | --- | | | 2022年 | 2023年 ...

10月2日，东风集团旗下高端新能源品牌岚图汽车正式向香港联交所递交上市申请，并披露招股书。这 标志着其自今年8月官宣上市、9月完成股改更名后，赴港上市进入实质性阶段。 秦轩辕、秦生、鞠桦、冯长军、丁绍斌退出董事行列，付炳锋、蒋焘、胡晓、廖显志、辛定华、杨勇六 人新增为董事。 根据招股书披露，岚图在销量、营业收入及毛利率等关键指标上均呈现持续增长态势，向外界展示了一 家具有央企背景的高端智慧新能源汽车品牌的实力。根据招股书，岚图营业收入从2022年的约60.5亿 元，增长至2023年的约127.5亿元、2024年的约193.6亿元，复合年增速达到78.9%。2025年前七个月， 公司实现收入157.8亿元，同比增长90.2%。 销量拉升驱动营收持续增长。2022年至2024年期间，岚图销量从1.9万辆快速增长至超8万辆，复合年增 长率达到103.2%，在中国高端新能源汽车品牌中增速位列前三。10月1日，岚图公布最新交付数据显 示，9月岚图交付新车15224辆，1—9月累计同比增长85%。 值得关注的是，岚图的自我造血能力持续提升。岚图的毛利率从2022年的8.3%，一路升至2024年的 21%，并在2025年前 ...

Group 1 - Avita plans to submit an IPO application to the Hong Kong Stock Exchange in Q4 2025, with a target listing in Q2 2026, supported by China International Capital Corporation and CITIC Securities as joint sponsors [1] - Avita aims for global sales of 400,000 units by 2027, 800,000 units by 2030, and 1.5 million units by 2035, with a projected annual revenue of 100 billion yuan by 2027 [1][2] - The company has completed four rounds of financing from 2021 to 2024, raising approximately 19 billion yuan [3] Group 2 - Avita's sales increased from 12,000 units in 2022 to 35,000 units in 2023, with a cumulative sales of 79,711 units from January to August 2025, representing a year-on-year growth of 119.18% [4] - The projected maximum fundraising amount for the IPO is up to 1 billion USD (approximately 7.8 billion HKD) [4] - Avita's revenue for 2022, 2023, and 2024 is reported as 28.34 million yuan, 5.645 billion yuan, and 15.35 billion yuan respectively, with net losses of 2.015 billion yuan, 3.693 billion yuan, and 4.018 billion yuan [4]

Core Viewpoint - Lantu Motors officially launched the Lantu Zhaiguang L on September 26, aiming to redefine the luxury sedan market with four new experiential upgrades [1] Design and Aesthetics - The Lantu Zhaiguang L has quickly become a focal point in the luxury sedan market due to its refreshed design and luxurious appeal, based on the "Tian Di Kun Peng 2.0" design philosophy, showcasing deep-rooted Chinese culture and brand confidence [3] - The vehicle features a striking front design resembling "Kun Peng spreading its wings," with LED headlights symbolizing infinite potential and a grille made of 34 vertical chrome strips representing the pursuit of excellence [3] Intelligent Features - The Lantu Zhaiguang L is equipped with Huawei's Qian Kun ADS 4 and HarmonyOS 5.1, providing a comprehensive intelligent experience with 29 perception sensors for full coverage in various driving scenarios [5] - The vehicle includes a 16.1-inch 3K retina display, voiceprint recognition, and multi-modal interaction for personalized services, emphasizing comfort through spacious design and advanced features [5] Performance and Handling - The car boasts an industry-leading independent rear steering system with a turning radius of just 5.6 meters, combining the grandeur of a large vehicle with the agility of a smaller one [7] - It features a torque vectoring intelligent four-wheel drive system and eight driving modes, suitable for diverse driving scenarios, along with an advanced suspension system for optimal comfort and performance [7] Powertrain and Efficiency - The Lantu Zhaiguang L utilizes the Lanhai Intelligent Super Hybrid System, achieving faster charging, higher efficiency, and stronger performance, addressing user travel anxiety [9] - With a 63 kWh battery, it offers a pure electric range of 410 km and a combined range of 1400 km, allowing for long-distance travel without the need for refueling [9]

Core Insights - Lantu's new flagship SUV, Taishan, has officially opened for pre-orders as of September 26 [1] - Taishan is the first 800V intelligent super hybrid SUV from a Chinese manufacturer, representing a significant technological breakthrough for Lantu [1] - The vehicle features the Lanhai intelligent super hybrid power system, which surpasses traditional hybrid technology [1] - In terms of intelligence, Taishan is equipped with Huawei's top-tier intelligent solution, the Huawei Qiankun ADS 4, which includes four lidar sensors and offers L3 level intelligent driving assistance capabilities [1]

Core Viewpoint - Lantu Motors launched its flagship sedan, Lantu Chasing Light L, at the "Era Fashion Night" event, showcasing a blend of Eastern aesthetics and modern technology [1][3] Group 1: Product Launch and Features - Lantu Chasing Light L is now available for pre-order, offering multiple benefits including a deposit of 2000 yuan that offsets 5000 yuan of the final payment [1] - The vehicle is based on the "Tian Di Kun Peng 2.0" design philosophy, featuring a front design that resembles "Kun Peng spreading its wings" and an elegant side profile symbolizing ambition and perseverance [3] - The car is equipped with Huawei's Kunlun ADS 4 and HarmonyOS 5.1, providing a comprehensive intelligent experience with safety and efficiency [4] Group 2: Market Positioning and Strategy - Lantu aims to penetrate the luxury sedan market traditionally dominated by foreign brands, shifting the perception of luxury from brand premium to technology-driven [3] - The high-end brand market is undergoing a transformation, with user demands evolving towards electric and intelligent features [3] Group 3: Technical Specifications and Performance - Lantu Chasing Light L features a leading independent rear steering system with a turning radius of only 5.6 meters, combining the grandeur of a large vehicle with the agility of a smaller one [5] - The vehicle includes an 800V intelligent hybrid system, achieving a pure electric range of 410 km and a combined range of 1400 km, with fast charging capabilities [5]

Core Viewpoint - The launch of the Lantu Taishan marks a significant milestone for Lantu Automotive, showcasing its commitment to creating a competitive product lineup in the high-end luxury market, integrating Eastern aesthetics with advanced technology and fashion art [1][5][17]. Product Launch and Features - The Lantu Taishan was unveiled at the "2025 Lantu Automotive Era Fashion Night" in Shanghai, featuring a top-tier fashion show format and officially opening for reservations with promotional offers [1][3]. - The Taishan is part of a "three-flagship" matrix that includes Lantu Zhaiguang L and Lantu Dreamer, completing the brand's product layout across sedan, MPV, and SUV categories [3][5]. Design and Cultural Significance - The design of the Lantu Taishan draws inspiration from Chinese landscapes and architecture, aiming to redefine "Chinese luxury" with a flowing artistic form [10]. - The name "Taishan" symbolizes a deep spiritual connection between the brand and its users, reflecting respect for the backbone of the new era in China [8]. Technological Advancements - The Lantu Taishan is the first Chinese 800V intelligent super hybrid SUV, featuring the Lanhai intelligent super hybrid power system, which includes a 65kWh battery and offers a CLTC pure electric range of 370 km and a comprehensive range exceeding 1400 km [13]. - It incorporates advanced intelligent features, including Huawei's top-tier smart solutions, enabling L3-level intelligent driving assistance and a highly interconnected user experience [11][13]. Driving Experience and Comfort - The vehicle features an industry-first three-chamber air suspension system and a 16° rear-wheel steering system, enhancing driving comfort and maneuverability [14]. - The interior is equipped with AI adaptive zero-gravity seats, providing a customized seating experience for passengers [14]. Market Positioning and Brand Strategy - The launch of the Lantu Taishan is seen as a transformative step for the brand, aiming to redefine luxury standards by focusing on user needs and advanced technology rather than merely luxury materials [15][17]. - The introduction of the Taishan signifies that Chinese brands can create globally competitive luxury products, showcasing advancements in core technology and brand value [17][19].

Group 1 - AVATR officially announced the rollout of AVATR OS 4.7.0, which includes upgrades to Huawei's QianKun ADS 4 and HarmonySpace 5 for all vehicle models [1] - The upgrade allows users of range-extended models to view fuel and pure electric total mileage through a mobile app [1] - New features include parking payment, misgear alert reminders, remote parking assistance with one-click parking out, and support for vehicles to drive from the current parking space to the target space using intelligent assisted driving [1]

Core Viewpoint - The collaboration between Dongfeng Motor and Huawei is evolving from project-level cooperation to deeper organizational and capability integration, reflecting a strategic partnership aimed at enhancing product development and operational efficiency [1][2]. Group 1: Strategic Collaboration - High-level meetings between Dongfeng's chairman and Huawei's leadership indicate a strong commitment to the partnership, emphasizing the importance of safety and quality in automotive manufacturing [1]. - The discussions have expanded beyond technology and products to include governance, operational mechanisms, and talent development, showcasing a comprehensive approach to collaboration [1]. - The partnership aims to replicate the success of the Seres model, which has thrived under Huawei's support, suggesting a potential for creating a "central enterprise version of Seres" [1][3]. Group 2: Product Development and Market Positioning - Dongfeng currently lacks standout products and seeks to leverage Huawei's technology and market channels to develop potential star models [2]. - The rapid pace of collaboration, marked by a strategic agreement in May and the establishment of a joint innovation lab in September, indicates a swift transition from planning to execution [2]. - The partnership has led to the delivery of over 3,000 Avita vehicles to Huawei employees, highlighting the tangible outcomes of their collaboration [3]. Group 3: Technological Advancements - Huawei's advanced ADS 4 system, featuring multiple sensors and capabilities for high-level automation, positions Dongfeng favorably in the evolving regulatory landscape [4]. - The establishment of a joint innovation lab allows for shared methodologies and capabilities, marking a shift from a supplier relationship to a co-creation model in the automotive industry [4]. Group 4: Long-term Implications for Dongfeng - In the short term, the collaboration has already resulted in the launch of vehicles like the Mengshi M817, which integrates Huawei's intelligent systems [5]. - The joint innovation lab is expected to accelerate Dongfeng's development in software platforms and data management, addressing complexities in multi-brand operations [6]. - Dongfeng's long-term strategy involves integrating manufacturing processes with smart technology, aiming for a cohesive hardware, power, and software framework [6]. Group 5: Industry Dynamics - The partnership exemplifies a new collaborative model between state-owned enterprises and technology firms, moving from a supplier relationship to a more integrated approach [3][7]. - The success of this collaboration will depend on regulatory developments, cost management in software and hardware integration, and balancing brand differentiation within a multi-brand strategy [7]. - Huawei's role has shifted from a technology provider to an industry collaborator, enhancing its influence across various automotive sectors through partnerships with multiple manufacturers [6][7].