21世纪经济报道 见习记者何煦阳 奇瑞控股集团董事长尹同跃敲响的港交所钟声，回荡着奇瑞汽车二十余年的风雨兼程。 2025年9月25日，奇瑞汽车成功登陆港交所，股票代码9973.HK，募资规模达91.4亿港元，成为港股市场 2025年以来最大车企IPO。 奇瑞汽车开盘表现亮眼。以34.2港元/股开盘，较30.75港元的发行价上涨11.22%，市值一度突破2000亿 港元。截至收盘，奇瑞汽车股价为31.92港元/股，市值回落至1840.90亿港元，仍展现出资本市场对奇瑞 汽车的认可。 回溯奇瑞的发展历程，从1997年安徽芜湖城北一家废弃砖瓦厂的小草房开始，到如今产品远销超100个 国家和地区，奇瑞走过的28年，是一部中国自主品牌汽车的奋斗史。尹同跃斑白的两鬓，见证了这个品 牌从无到有、从国内到海外的艰辛历程。 在行业增速放缓的当下，奇瑞却交出了一份亮眼的成绩单：据弗若斯特沙利文，2024年，奇瑞成为中国 前十大乘用车企中增速最快的品牌，更是全球前二十乘用车企中，唯一在新能源、燃油车、国内外市场 均实现同比超25%增长的企业。 海外市场更是奇瑞的"王牌战场"，使其稳坐"出海王者"宝座。2024年我国汽车总出口586 ...

Core Viewpoint - Chery Automobile has established a new domestic business group, focusing on four key divisions to enhance its market strategy and operational efficiency, particularly in the electric vehicle sector [1][2][7]. Group 1: Organizational Structure - Chery has created the Chery Brand Domestic Business Group, which includes four divisions: Xingtu, Aihua, Fengyun, and QQ [1]. - The Fengyun division is now independent and will focus on new energy vehicles, which is crucial for Chery's strategy to break into the EV market [2]. - The QQ division's establishment highlights Chery's strategic emphasis on the A00 microcar market, with models like QQ Ice Cream and Little Ant maintaining sales of 5,000 to 6,000 units per month [3]. Group 2: Sales Performance - The Fengyun T0 and T8 models have seen sales between 5,000 and 6,000 units over the past year, while the Fengyun A8 averages over 2,000 units sold monthly [2]. - The Fengyun T9, a mid-size SUV, has received nearly 70,000 orders in a year, indicating strong market demand [2]. Group 3: Strategic Goals - The organizational changes come as Chery aims for an IPO, having submitted its listing application to the Hong Kong Stock Exchange, with plans to raise $1.5 billion primarily for R&D and international market expansion [7]. - Chery's chairman has emphasized that completing the IPO by March 2025 is a top priority for the company [7].

Core Viewpoint - Chery Automobile has undergone a significant internal restructuring, establishing a domestic business group that includes four major divisions: Starway, Aihui, Windcloud, and QQ, aimed at strategic focus and resource integration [1][2]. Group 1: Organizational Changes - The establishment of the domestic business group is a strategic adjustment based on the company's goals and development needs [2]. - The four divisions will focus on different product lines: Starway for high-end vehicles, Aihui for classic products, Windcloud for new energy vehicles, and QQ for small cars [2][3]. - Li Xueyong, the Executive Vice President of Chery, will also serve as the General Manager of the new domestic business group [2]. Group 2: Sales Performance - Chery's best-selling models, the瑞虎8 and 艾瑞泽8, achieved sales of 202,100 units and 145,800 units respectively over the past year, contributing significantly to the company's overall sales [2]. - The艾瑞泽 and 瑞虎 series cover a price range from 50,000 to below 200,000 yuan, indicating a broad market presence [2]. Group 3: Focus on New Energy - The Windcloud division will focus on new energy vehicles, which is crucial for Chery's breakthrough in this sector [3]. - Current sales figures for Windcloud's models range from 5,000 to 6,000 units per month, with the best-selling Windcloud T9 receiving nearly 70,000 orders in a year [3]. - There is a need for improvement in brand marketing for Windcloud to compete with industry leaders like BYD and Geely [3]. Group 4: Strategic Importance of QQ Division - The establishment of the QQ division highlights Chery's strategic emphasis on the A00-level microcar market, with models like QQ Ice Cream and Little Ant maintaining monthly sales of 5,000 to 6,000 units [4]. - There remains a demand for short-range electric vehicles, indicating growth potential in the low-speed electric vehicle sector [4]. Group 5: Ongoing Integration Efforts - Chery's ongoing integration efforts include the independent operation of sub-brands like iCAR and Jietu, which have unique brand identities [5]. - The recent dissolution of the Dazhu Intelligent brand and the formation of the Chery Intelligent Center signify a push towards a more cohesive and efficient smart technology strategy [5]. - The company aims to enhance its intelligent strategy and resource focus through these structural changes [5].

Core Viewpoint - Chery Automobile emphasizes safety as a fundamental principle, launching advanced safety systems and technologies to meet the evolving demands of electric and intelligent vehicles in diverse global markets [1][2]. Group 1: Safety Initiatives - Chery has established a comprehensive safety protection system that covers all personnel, processes, conditions, and markets, aiming to redefine safety standards in the automotive industry [2]. - The company adheres to global high standards for battery safety, implementing a battery management system with ten layers of safety design and over 5,000 testing parameters, utilizing AI algorithms for real-time alerts and protection [2][4]. Group 2: Product Innovations - The "Guardian" smart safety system was unveiled, focusing on comprehensive vehicle safety across all levels, driving scenarios, and dimensions [3]. - Chery's vehicles, such as the flagship model A9L, feature advanced safety designs including a 720-degree cabin and nine airbags, showcasing the company's commitment to safety engineering [3]. Group 3: Health and Community Engagement - Chery promotes health-conscious travel with its models, ensuring a zero-odor, zero-benzene, and zero-formaldehyde environment for users [2][4]. - The launch of the "Chery Guardian Safety Club" aims to unite accident survivors, safety professionals, and public advocates to enhance safety awareness and emergency response through community initiatives [4].

Core Viewpoint - Chery is undergoing a significant restructuring of its new energy vehicle (NEV) product lines, consolidating several models under the Chery brand and launching a new model called "Domi" to enhance its market presence in the NEV sector [4][5][8]. Group 1: Product Line Adjustments - Chery has integrated its previously separate iCAR brand models, including QQ Ice Cream, Big Ant, and Small Ant, into the Chery brand, indicating a strategic shift in its approach to NEVs [4][5]. - The new model "Domi" is set to be launched soon, with expectations for it to be positioned similarly to the Kaiyi Shiyue Mate, priced around 59,800 yuan, and will likely use batteries from Guoxuan High-Tech [7][8]. Group 2: Market Strategy - Chery aims to adopt a "car sea strategy" to penetrate the NEV market, focusing on launching multiple new products to increase overall sales volume without setting specific sales targets for "Domi" [8]. - The company has set ambitious goals for its NEV sales, aiming to become the third-largest player in the industry by mid-2024, despite current projections indicating it may fall short of this target [8]. Group 3: Leadership Changes - The leadership of the iCAR brand has changed, with Su Jun, a former CEO of Zhimi Technology, taking over from Zhang Hongyu, reflecting a shift towards a more innovative approach in product development aimed at younger consumers [6][7].

Group 1 - Trump's new tariff policy imposes a 10% tariff on all countries and a 34% tariff on China, with specific rates for other countries [2][4] - The policy is expected to disrupt the global trade system and significantly impact cross-border e-commerce, potentially triggering a new economic recession in the U.S. [4] - The U.S. will also impose a 25% tariff on all foreign-made cars starting April 3 [2] Group 2 - Lei Dao's president Ai Tiecheng has stepped down, with Shen Fei taking over the role, while Li Bin will directly manage seven departments within the company [6][8] - The organizational changes at Lei Dao are part of a broader strategy to enhance sales and user service [6] Group 3 - JD.com announced its eighth salary increase, raising employee compensation to 19 months' salary this year and 20 months' salary next year [12][14] - The company is also implementing benefits for full-time delivery riders, including social insurance coverage [14] Group 4 - Yuanyuan Network reported a significant decline in performance for 2024, with revenue down 6.56% to 9.153 billion yuan and a net loss of 2.069 billion yuan [18][19] - The company has experienced frequent management changes and significant layoffs, with over 3,000 employees let go [20] Group 5 - Zero Run Auto achieved the highest sales among new energy vehicle manufacturers in March, delivering 37,095 units, a year-on-year increase of over 154% [20] - The company is preparing for the launch of its B10 model, which has seen strong pre-sales [20] Group 6 - Chery is restructuring its electric vehicle product lines, integrating models like QQ Ice Cream and Ant into the Chery brand [21] - The QQ Ice Cream model targets the market under 50,000 yuan, while the Ant model is positioned in the 50,000 to 70,000 yuan range [21] Group 7 - The AR/VR glasses market has seen a 600% increase in sales during a recent promotional event on AliExpress, indicating strong demand for these products [22][24] - XREAL, a consumer-grade AR glasses company, reported a global sales revenue of approximately 600 million yuan last year, with overseas sales accounting for nearly 70% [22]

Core Viewpoint - The "Smart Driving Equality" trend in the Chinese automotive industry has gained momentum, with major domestic brands participating, indicating a critical juncture where over 50% of domestic car sales will be involved in this competitive landscape [1][2]. Group 1: Market Dynamics - The urgency for car manufacturers to enter the smart driving market is driven by a narrowing window for smart technology adoption, where strategic positioning will determine future market share [2]. - A price war has intensified, with 28 models, including 20 electric vehicles, experiencing price reductions averaging 30,000 yuan, representing a 13% decrease [4]. - New electric vehicle models have seen significant price cuts, with average reductions of 39,000 yuan and a 17% drop, marking the highest in their respective segments [4]. Group 2: Competitive Strategies - The price reduction strategy is influenced by ongoing promotional tactics and the need for product updates due to the "smart driving" wave, leading to increased market competition [5]. - BYD's dual strategy of promoting both smart and non-smart versions of its vehicles has resulted in sustained sales growth, particularly in lower-tier cities [5][6]. - Other brands, such as Extreme Fox, have also engaged in aggressive pricing, with significant discounts on models to remain competitive [6]. Group 3: Technological Evolution - The "Smart Driving Equality" movement is reshaping the value system of smart driving technologies, with a focus on establishing a new product hierarchy and accelerating the elimination of non-smart vehicles [8][10]. - The emergence of a structured smart driving product hierarchy, akin to a pyramid, is evident, with varying levels of capabilities from basic to advanced features [9]. - The trend indicates a shift where high-level smart driving features are becoming more accessible, with prices for advanced models dropping significantly [13]. Group 4: Challenges and Opportunities - Traditional automakers face challenges in building a sustainable technology cycle for smart driving, requiring both foundational functionality and continuous upgrades to maintain competitiveness [14]. - Collaborations with leading smart driving technology suppliers can provide traditional manufacturers with a balance of efficiency and autonomy, although long-term cost pressures remain a concern [15]. - The transition to a software-driven model poses significant challenges for traditional manufacturers, necessitating organizational restructuring and talent development to adapt to smart driving technology [16].

以下文章来源于远川汽车评论 ，作者熊宇翔 彭苏平 远川汽车评论 . 不止是汽车 月销一万很危险 Flag倒了又立。 作者 | 熊宇翔 彭苏平 来源 | 远川汽车评论 （ID：yuanchuanqiche） 智能电动汽车厮杀到今天，为了抓住稀缺的注意力资源 ，接二连三地立下各种惊悚flag，已经成为车企基本竞争手 段。 这些flag包括但不限于： 销量对赌型 ：年销量增长50%以上达成XX万辆；某车型月销XX辆，超过同级标杆； 蔑视广告法型 ："XX万以内最好的车"； 低姿态狠话型 ："新能源我们要不客气啦"； 赌上职业生涯甚至性命型 ："若未能···· ··，我就下课/去找工作"；"如果最后是XX效果，我就去跳楼"。 但在复杂多变又血腥竞争的汽车市场中，flag理论上是拿来兑现的，可现实常常是打脸的。 月销一万辆已经成为造车新势力的生死线，年底"暴雷"的哪吒就是一个活生生的例子。 今年1-9月，哪吒共计卖了8.59万辆，平均每月不足万辆，年度目标完成率不到三成，迟迟无法上市导致现金流拉响 了警报，多家供应商公开讨债，作为股东的周鸿祎当起了鸵鸟。 年初还在微博上公开反思的CEO张勇也黯然下课，非常讽刺的是，在" ...