新华财经上海8月26日电（李一帆）8月25日晚，安徽江淮汽车集团股份有限公司（以下简称"江淮汽车"）发布2025年上半年财报， 数据显示上半年实现营业收入193.6亿元，同比下降9.1%；归属于上市公司股东的净利润-7.73亿元，同比下滑高达356.89%。 | | | | 单位:元 币种:人民币 | | --- | --- | --- | --- | | 主要会计数据 | 本报告期(1-6月) | 上年同期 | 本报告期比上年同期增减(%) | | 营业收入 | 19, 359, 903, 999, 02 | 21, 297, 795, 201. 25 | -9. 10 | | 利润总额 | -810,886,093.43 | 242. 216. 050. 18 | -434.78 | | 归属于上市公司股东的净利润 | -772,811,725.52 | 300, 828, 910. 45 | -356. 89 | | 归属于上市公司股东的扣除非经 | -915, 642, 811. 32 | 91.873.549.19 | -1. 096. 63 | | 常性损益的净利润 | | | | | 经营活动产 ...

对于业绩下滑，江淮汽车解释称，主要系国际形势日趋复杂、境外汽车市场竞争日益加剧等影响，公司 出口业务有所下滑；公司高端智能新能源乘用车项目尚处于产能爬坡期，尚未呈现规模效益。 图 片来源：视觉中国 8月25日，安徽江淮汽车集团股份有限公司（以下简称"江淮汽车"）发布的2025年半年度报告显示，公 司上半年营业收入为193.6亿元，同比下降9.10%；归属于上市公司股东的净利润亏损7.73亿元，上年同 期为盈利3.01亿元，同比大降356.89%。 | | | | 单位:元 币种:人民币 | | --- | --- | --- | --- | | 主要会计数据 | 本报告期(1-6月) | 上年同期 | 本报告期比上年同期增减(%) | | 营业收入 | 19.359.903. 999. 02 | 21, 297, 795, 201. 25 | -9. 10 | | 利润息额 | -810. 886. 093. 43 | 242, 216, 050, 18 | -434.78 | | 归属于上市公司股东的净利润 | -772,811,725.52 | 300. 828. 910. 45 | -356. 89 | ...

8月25日，华为常务董事、终端BG董事长余承东透露，尊界S800上市87天大定突破1.2万辆，问界M9累 计交付量达22.6万辆，鸿蒙智行累计交付量已达90万辆。 ...

"加价200万，求购尊界S800。" 最近一段短视频在车圈引起热议。一名汽车博主向中东王子安利尊界S800，王子当场表示愿意加价200万元人民币抢购现车，甚至还夸赞"即便是宾 利、劳斯莱斯，也做不到这样"。 王子是不是真王子还有待考察，可中东土豪爱中国车却经过了真金白银的印证。在今年4月的上海车展上，一群身着白袍的中东客商穿梭于极氪、小 鹏、东风等展台，签下动辄数百万美元的订单，甚至有人要求"把展车直接运到迪拜"。 按照沙特商人的说法，沙特街头时常可以看到中国品牌，连王室座驾也加入了中国车。这场"中东扫货潮"的背后，是中国车企用技术、资本与政策编 织的宏大叙事。 海关总署数据显示，2024年上半年，中国对中东地区的乘用车出口量达到42万辆，同比增长46.2%。中东已跃升为中国汽车出口最大目的地。这一势 头还在延续，2025年上半年中国汽车出口308.3万辆，同比增长10.4%，其中对阿联酋出口激增74046辆，沙特市场以119564辆跻身出口国前十。 从高温沙漠中的电池革命，到王室车库里的智能驾驶，中东正成为全球汽车产业权力重构的"新战场"。 作者 / 莫 莉 编辑 / 黄大路 设计 / 张 萌 4月上海车展 ...

以下文章来源于每人Auto ，作者每人作者 每人Auto . 每人Auto，记录新浪潮 来 源丨每人Auto（ID： meirenauto ） 作者丨 谢韫力 编辑丨 西打 李欢欢 图源丨Midjourney 富豪们的审美，曾被BBA、保时捷、劳斯莱斯们高度统一。但今年上半年，蔚来ET9、小米SU7 Ultra、仰望U7、尊界S800陆续上市，均驶入50万至100万元价格带。 为了打动有钱人，新势力效仿奢侈品牌，举办品鉴会、商业课等，使尽浑身解数吸引富裕阶层的目 光。这些售卖方式某种程度是豪车价值的缩影，豪车从来不只是代步的工具，更是一种身份、圈层、 审美的售卖。 当一批新晋富豪接连为国产豪车买单，豪华市场的汽车消费偏好也发生了转变。国产豪车如何抓住高 净值用户？又怎么与老牌豪车争夺市场？ 豪车更迭 2025年想要卖一台豪车，最重要的场景不是声嘶力竭的发布会，不是人潮涌动的车展，也不是繁华 商圈的直营店，而是小范围高端私密品鉴会。 去年12月初，从事金融工作的张景和受邀来到深圳华侨城论坛，"那是一个众所周知，但是又充满神 秘的私人会所"。白色扇形建筑悬在人工湖中央，一条小 径 连接着会所入口与湖岸，周围大片绿 ...

Group 1 - The Chinese imported automobile market is experiencing a continuous decline, with total imports expected to be only 220,000 units in the first half of 2025, a year-on-year decrease of 32% [1] - Since reaching a peak of 1.43 million imports in 2014, the market has been on a downward trend, with a 12% year-on-year decline in 2024, bringing imports down to 700,000 units [1] - The decline is attributed to the rise of the domestic automotive industry and the wave of electrification [1] Group 2 - Traditional luxury car brands, particularly the German trio (BMW, Mercedes-Benz, Audi), are facing significant challenges, with BMW deliveries down 15.5% to 317,900 units, Mercedes-Benz down 19% to 293,200 units, and Audi down 10.2% to 287,600 units [3] - In contrast, domestic new energy luxury vehicles are rising sharply, with Li Auto delivering 204,000 units and NIO delivering 74,000 units in the same period [3] - In the 300,000-400,000 yuan market, new energy vehicles achieved a market share of 52.5% in July, surpassing traditional fuel vehicles for the first time [3] Group 3 - Despite the challenges, traditional luxury brands still maintain a loyal customer base, with a market share of 58.7% in July, down from 60.2% in March [4] - The slow pace of electrification among traditional luxury brands is evident, with imported new energy passenger vehicles accounting for only 2% of the market in the first half of 2025, an 80% year-on-year decline [4] - Policy changes, such as the adjustment of luxury car tax thresholds, have led to a significant drop in sales for some models, with declines exceeding 20% [4] Group 4 - The future of the Chinese imported automobile market will be characterized by both challenges and opportunities, with the competition between traditional luxury and domestic luxury brands unlikely to end soon [5] - Domestic brands are leading in electrification, making it difficult for traditional ultra-luxury brands to catch up [5] - The market feedback indicates that high-end positioning now relies on technological strength and ecosystem development rather than solely on brand prestige [5]

Investment Rating - The report maintains a positive outlook on the automotive industry, specifically recommending "Overweight" for the sector, indicating it is expected to outperform the overall market [2][10]. Core Insights - Great Wall Motors is focusing on the expansion of its high-profit brands, Wey and Tank, with expectations of monthly sales reaching 20,000 units for Wey following the launch of new models [3][4]. - JAC Motors is seen as having a unique position in the high-end market, with the launch of the Zun Jie S800 expected to reshape the ultra-luxury segment, supported by Huawei's marketing [4]. - The report suggests that both Great Wall Motors and JAC Motors have strong potential for profit growth and should be closely monitored for investment opportunities [3][4]. Summary by Sections Great Wall Motors - The company continues to focus on the Wey and Tank brands, with the potential for significant sales increases and profit elasticity due to new model introductions [3]. - The current low PE ratio in the Hong Kong market suggests high value and ongoing recommendation for investment [3]. JAC Motors - JAC is positioned well in the high-end market, with the Zun Jie S800 expected to outperform joint venture luxury vehicles, benefiting from Huawei's marketing [4]. - The company anticipates a reduction in losses in 2024, with new vehicle launches in collaboration with XPeng expected to improve sales significantly [4]. - The report highlights a dual logic of high-end breakthrough and profit recovery for JAC Motors, suggesting it is a key focus for investors [4].

Core Insights - The article discusses the OTA upgrade of the Hongmeng Zhixing Zun Jie S800 car, which introduces five new features aimed at enhancing user experience and vehicle functionality [1] Group 1: New Features - The OTA upgrade adds functionalities such as "point to control," "one-click removal of traces," automatic suspension adjustment for entering and exiting parks, QQ Music Zun Jie version, and Himalaya HIMA version [1] - The upgraded vehicle cabin will support voice and gesture control for various features including front and rear seats, rear doors, windows, air conditioning, starry sky roof, and projection equipment, contingent on purchasing the privacy giant screen kit and rear smart interaction system [1] - The "one-click removal of traces" feature allows users to clear specific driving records and navigation information from the front and rear screens, ensuring information security, although the deleted data cannot be recovered [1]

Core Viewpoint - The article discusses the ongoing price war in the Chinese automotive market, highlighting the paradox of declining prices alongside rising average vehicle prices due to market structural changes and shifts in consumer preferences [4][5]. Group 1: Price War and Market Dynamics - In 2024, 227 car models in China experienced price reductions, with average price drops of 18,000 yuan for new energy vehicles and 13,000 yuan for fuel vehicles, representing declines of 9.2% and 6.8% respectively [4]. - Despite the price war, the average retail price of passenger cars increased from 151,000 yuan in 2019 to 186,000 yuan in the first half of 2024 [4][5]. - The automotive industry’s profit margin fell to 4.3% in 2024, down from 7.8% in 2017, which is lower than the 6% profit margin of downstream industrial enterprises [4]. Group 2: Market Structure Changes - The market for fuel vehicles is experiencing a "two extremes" scenario, where the sales share of low-end models (5-10 million yuan) dropped from 26.8% in 2019 to 13.5% in 2024, while high-end models (above 300,000 yuan) increased from 6.2% to 10.3% [5]. - The overall sales of new cars priced above 200,000 yuan increased from 2.15 million units in 2019 to 6.99 million units in 2024, a growth of 3.25 times, while sales of cars below 200,000 yuan decreased by 670,000 units [5]. Group 3: Future Trends and Predictions - By 2025, the average price of passenger cars is expected to decline, with projections showing a drop to 172,000 yuan in Q2 and 169,000 yuan in July, an 8,000 yuan decrease from 2024 [6]. - The decline in average prices is attributed to a slowdown in the high-end fuel vehicle market and the impact of "old-for-new" policies, which are revitalizing the mid-to-low-end market [6][7]. - The market share of vehicles priced above 200,000 yuan is projected to continue decreasing, while the share of vehicles priced below 100,000 yuan is expected to rise [7]. Group 4: Impact of New Energy Vehicles - The average price of new energy vehicles is projected to decrease from 184,000 yuan in 2023 to 161,000 yuan in 2025, driven by supply chain maturity and an increase in high-end model sales [5]. - The share of new energy vehicles in the 300,000-400,000 yuan segment rose from 14.4% in 2021 to 39.8% in 2024, indicating a shift towards higher-end electric vehicles [5]. Group 5: Autonomous Brands and Market Competition - Several domestic automakers have launched high-end brands, with models priced between 700,000 and 1,000,000 yuan achieving significant sales milestones shortly after launch [8]. - The demand for traditional luxury vehicles is expected to decline, with autonomous brands potentially filling the gap left by high-end fuel vehicles [8].

Domestic News - In July, China's power battery installation volume reached 55.9 GWh, with a month-on-month decrease of 4.0% but a year-on-year increase of 34.3%. The total battery production for July was 133.8 GWh, up 3.6% month-on-month and 44.3% year-on-year [3] - A new national standard for the transportation of lithium batteries will be implemented on February 1, 2026, aimed at enhancing the safety and efficiency of lithium battery logistics, which is crucial for the high-quality development of the industry [4] - GAC Aion plans to invest up to 30% in Huawang Automobile, which aims to create a new high-end automotive brand targeting the 300,000 RMB market [5] - Chery's Omoda and Jaecoo brands are entering the Iraqi market through a distribution agreement with Jameel Motors, with initial models including both fuel and plug-in hybrid vehicles [6] - Lantu's flagship SUV will feature Huawei's ADS Ultra four-laser radar intelligent driving solution, enhancing user experience through advanced technology [7] - Huawei's Yu Chengdong announced the S800 model, which integrates six-domain fusion technology for improved comfort and safety [8] - Tesla's global vice president, Tao Lin, emphasized the company's commitment to battery recycling, with 90% of waste materials being reused in new battery production [9] - Zebra Intelligent's associated company increased its registered capital to approximately 3.2 billion RMB, marking a 13% increase [10] International News - In July, U.S. electric vehicle sales surged to over 130,000 units, a 20% year-on-year increase, driven by lower prices and incentives from automakers [12][13] - Japan's new car sales fell by 3.6% year-on-year in July, with total sales for the first seven months up by 8% compared to the previous year [14] - Italy approved a new subsidy plan worth approximately 698 million USD to boost electric vehicle sales, offering up to 10,000 EUR in subsidies for individual buyers [15] - Ford announced a plan to invest 5 billion USD in electric vehicles, focusing on producing affordable models starting in 2027 [16] Commercial Vehicles - Foton's Tuyano X5 HEV was officially launched, featuring a hybrid system with a starting price of 126,800 RMB [19] - BYD's electric heavy truck has entered the supply chain of Conch Cement, showcasing a model that combines long-range capabilities with fast charging [20] - FAW Jiefang launched its new high-power Eagle Road product, targeting the natural gas heavy truck market [21] - Jiangling Motors partnered with CATL to advance the battery swap ecosystem for logistics vehicles [22]