Core Insights - The Chinese automotive market has shown strong performance in the first half of 2025, with retail sales of narrow passenger cars reaching 10.901 million units, a year-on-year increase of 10.8% [1] - Domestic brands have captured a significant market share of 64%, indicating their dominance in the Chinese market [1] - BYD leads the sales chart with 2.146 million units sold, while Geely has seen a remarkable growth rate of 47% year-on-year [1][12] - New energy vehicle sales are on the rise, with companies like Leap Motor and XPeng showing significant growth [1][19] Group 1: Overall Market Performance - As of June 2025, the cumulative retail sales of narrow passenger cars in China reached 10.901 million units, reflecting a 10.8% increase compared to the previous year [1] - Domestic brands have increased their market share to 64%, solidifying their position in the market [1] - BYD has achieved a sales volume of 2.146 million units, maintaining its position as the top seller [12] - Geely's sales have surged by 47%, prompting the company to raise its annual sales target to 3 million units [1][12] Group 2: Performance of New Energy and Emerging Brands - Leap Motor has emerged as a leader among new energy vehicle manufacturers, with monthly sales nearing 50,000 units [1] - XPeng has also shown impressive growth, selling more vehicles in the first half of 2025 than in the entire previous year [1] - The new energy vehicle segment is experiencing rapid growth, with companies like BYD and Geely leading the charge [12][19] Group 3: Traditional Automakers' Performance - Some traditional automakers are showing signs of recovery, with brands like FAW-Volkswagen and SAIC Volkswagen reporting positive year-on-year growth [1][9] - FAW Toyota has seen a significant increase of 16% in sales, indicating a rebound in the joint venture segment [1][9] - However, brands like GAC are struggling, with a decline in sales, highlighting the challenges faced by traditional automakers [1][9] Group 4: Export Performance - SAIC has become a leader in overseas sales, with 494,000 units sold, accounting for nearly 25% of its total sales [10] - Changan has also made strides in international markets, with overseas sales exceeding 300,000 units, a growth of over 45% [10] - GAC has reported a 45.6% increase in overseas sales, completing 55% of its annual export target [10]

Group 1 - In June 2025, Jietu Automobile sold 55,741 vehicles, representing a year-on-year growth of 32.4%. For the first half of the year, total sales reached 299,368 units, up 33.9% year-on-year, marking a strong development momentum with a historic semi-annual sales breakthrough of 290,000 units [1] - Jietu's three major segments—fuel vehicles, electric hybrid off-road vehicles, and luxury off-road vehicles—are performing well in the global market, with the Jietu X70 series being the "champion of seven-seat SUVs in China," selling 15,725 units in June and surpassing 930,000 cumulative sales globally [3] - The Jietu Mountain Sea T1 and T2 models have contributed to the electric hybrid off-road segment, with cumulative sales of 6,140 units, while the new Mountain Sea L9 has gained popularity among families for its spacious and comfortable design [3] Group 2 - The luxury electric hybrid off-road segment, represented by the Zongheng G700, is gaining traction with its advanced power system and design philosophy, establishing a strong presence in the global luxury off-road market [5] - Jietu is entering the "Off-Road 3.0 Era," expanding its product lineup to cover various off-road categories, making off-roading a more accessible lifestyle choice for a broader audience [7] - The Zongheng G700 showcased its capabilities by participating in the 2025 Rally, achieving a personal runner-up position and demonstrating the brand's commitment to overcoming challenges in extreme conditions [8] - The Zongheng G700 made its debut at the Hong Kong Auto Show, highlighting its robust off-road performance and luxury experience, reinforcing Jietu's strategic intent to penetrate the global high-end market [9] - The strong performance in the first half of the year sets a solid foundation for Jietu's growth trajectory in 2025, with plans to accelerate product innovation and aim for the title of "global number one electric hybrid off-road brand" [11]

Core Viewpoint - Chery Group is launching a promotional campaign for the Dragon Boat Festival, offering significant discounts across its brands, including Chery, Exeed, Jietu, and iCAR, with total subsidies reaching up to 10 billion yuan [1][15] Group 1: Promotional Campaign Details - The promotional event runs from now until June 2, featuring discounts of up to 45,000 yuan on Jietu vehicles [1][15] - The Jietu Mountain and Sea series, designed for family and off-road travel, is highlighted with various models participating in the promotion [3][8] Group 2: Specific Model Discounts - Jietu Mountain and Sea L6, L7, and L9 models are included in the promotion, offering cash discounts and trade-in subsidies [8] - Mountain and Sea L6: Cash discount of 5,000 yuan, trade-in subsidy up to 12,000 yuan, total discount of 37,000 yuan [8] - Mountain and Sea L7: Cash discount of 10,000 yuan, trade-in subsidy up to 15,000 yuan, total discount of 45,000 yuan [8] - Mountain and Sea L9: Cash discount of 8,000 yuan, trade-in subsidy up to 10,000 yuan, total discount of 38,000 yuan [8] Group 3: New Energy and Fuel Models - The 2025 Mountain and Sea T1 features a hybrid architecture with a maximum power of 435 kW and a pure electric range of 226 km, with a total discount of 30,000 yuan during the event [4][6] - The Jietu Traveler, a fuel model, is also part of the promotion, with a starting price of 56,900 yuan and various subsidies available [10][14] Group 4: User-Centric Approach - Jietu emphasizes a user-centered approach, offering a comprehensive travel experience with over 1,200 ecological products and partnerships, aiming to enhance customer satisfaction [14]

Core Insights - The event marked the launch of the 2025 Jietu Mountain Sea T1 at a competitive price of 134,900 yuan, showcasing Jietu's commitment to the "Travel+" strategy and its leadership in the new category of off-road box vehicles in China [1][2][14] Sales Performance - Jietu's sales have seen significant growth, with sales jumping from 180,000 units in 2022 to 315,000 units in 2023, and projected to exceed 568,000 units in 2024, representing a domestic market growth rate of 93.6%, far surpassing the industry average [5] - The Jietu Traveler has achieved global cumulative sales of over 260,000 units, while the Jietu Free Traveler, launched in March 2025, sold 11,158 units in its first month, becoming the first Chinese box vehicle to exceed 10,000 monthly sales upon launch [5] Competitive Advantage - Jietu has established a unique travel ecosystem that integrates product and service offerings, focusing on four key dimensions: +Off-road, +Space, +Intelligence, and +Health [6] - The 2025 Jietu Mountain Sea T1 features an XWD fully automatic intelligent four-wheel drive system that can recognize road conditions and switch driving modes in 0.15 seconds, significantly lowering the barriers to off-road driving [6] Ecosystem Development - Jietu has built a global network covering over 1,100 travel products, the first official modification brand Jietu JMK, 176 camping sites across 121 cities, 332 partner rights, and 1,255 Jietu stations, creating a full-cycle service for users from car purchase to travel [8] Technological Innovations - The 2025 Jietu Mountain Sea T1 is a milestone in technology accessibility, featuring a 43.2 kWh battery with a pure electric range of 226 km, priced at 134,900 yuan, which is significantly lower than competitors [9][11] - The vehicle employs a rare P1+P3+P4 three-motor layout, ensuring stable four-wheel drive power even in low battery conditions, addressing common issues faced by traditional hybrid models [9][11] Global Ambitions - Jietu aims to position its box vehicles as symbols of global off-road culture, with over 1.7 million global users and a strong market presence in countries like Angola, Qatar, and Saudi Arabia [12] - The company's "Travel+" strategy is recognized for its forward-thinking approach, providing a new paradigm for the Chinese automotive industry [12]

Core Viewpoint - The 2025 China Rally Championship, themed "To Love and Towards the Future," showcases the pinnacle of off-road racing in Asia, featuring over 40 teams, 105 vehicles, and 210 top drivers and navigators, attracting thousands of visitors and off-road enthusiasts [1] Group 1: Event Overview - The event includes a new energy category, providing a platform for domestic new energy off-road brands to engage with global competitors, serving as a testing ground for comprehensive off-road capabilities [5] - The rally lasts for 13 days, covering approximately 4,500 kilometers with four major camps and 12 challenging stages across extreme terrains such as deserts, Yadan landforms, and saline-alkali areas [5] Group 2: Vehicle Performance and Challenges - The rally tests vehicle reliability under extreme conditions, including high-speed sandy roads and soft sand dunes, requiring advanced torque response and adaptive suspension systems for obstacle navigation [8] - The "Death" stage in the desert presents challenges for battery temperature control and vehicle sealing, while long-distance travel tests endurance management and refueling adaptability [8] Group 3: Company and Product Highlights - The Jietu Zongheng G700, a new energy off-road vehicle, is positioned as a key competitor, leveraging advanced technology from Chery and Jietu to establish a strong foundation for all-terrain performance [12] - The vehicle features a robust chassis and adjustable suspension, designed to withstand continuous impacts on rugged terrains, ensuring stability and off-road capability [30] - Jietu's ambition is to showcase China's new energy off-road technology on a global stage, aiming for a strong performance in the rally to validate its reliability and innovation [25][34]

Core Insights - The electric vehicle (EV) wave is rapidly transforming the global automotive industry, with Chinese automakers accelerating their overseas expansion, particularly in Malaysia, which is becoming a key market for them [2][3] Group 1: Market Dynamics - Stellantis and Leap Motor are launching a local assembly project in Malaysia with an initial investment of €5 million, aiming to produce the Leap C10 model by the end of 2025 [3] - Malaysia's new car sales reached a record high of 816,700 units in 2024, surpassing both 2022 and 2023 figures, while Thailand's sales dropped by 26% to approximately 570,000 units [3] - The Malaysian automotive market is characterized by strong local brands, Proton and Perodua, which hold about 60% market share, while Japanese brands account for around 30% [4] Group 2: Chinese Automakers' Strategies - Chinese automakers like Geely and BYD have made significant inroads into the Malaysian market, with Geely acquiring a 49.9% stake in Proton in 2017 and expanding its presence through technology sharing [4][7] - BYD's Atto 3 has quickly become a best-seller since its launch in late 2022, indicating strong demand for Chinese EVs in Malaysia [8][9] - Chery has also re-entered the Malaysian market, launching multiple models and establishing a new factory in Shah Alam, which is expected to enhance its local production capabilities [8] Group 3: Government Initiatives and Market Potential - Malaysia aims to increase the share of electric vehicles to 15% by 2030 and 38% by 2040, supported by tax incentives for EV manufacturers [6] - The country has introduced various tax exemptions for electric vehicles, including a 70%-100% income tax reduction and exemptions from import duties and sales taxes for locally assembled EVs [6] - The presence of Chinese automakers is driving significant growth in Malaysia's EV sales, which doubled to 21,789 units in 2024 compared to 10,159 units in 2023 [9] Group 4: Supply Chain and Local Production - Chinese automakers are establishing a comprehensive supply chain in Malaysia, with local production facilities for battery manufacturers and parts suppliers [11] - Companies like EVE Energy have begun operations in Malaysia, supporting local production with battery supply [11] - The local assembly of vehicles, such as the Leap C10, will leverage Stellantis's existing facilities, enhancing cost efficiency and market reach [10]