展望2026年，智己汽车表示将继续以"品牌向上+技术突围"为核心方向，具体计划包括加速线控底盘量 产落地、推动L3级自动驾驶的规模化应用、持续完善产品矩阵以及扩大海外市场布局。 智己汽车强调，五年是新的起点，公司将继续秉持"不妥协、不设限、不随流"的理念，向"智能时代变 革的实现者"目标迈进。 （文章来源：新华财经） 新华财经上海12月25日电（李一帆）12月25日，智己汽车在成立五周年之际，发布致全体员工的内部 信，回顾了2025年的发展成果与2026年的规划。 内部信中指出，2025年，智己汽车以"技术破局者"姿态迈入品牌发展新阶段。在过去一年中，公司实现 了多项关键技术突破与市场成果。其中包括，在技术方面，"恒星超级增程"首发落地，推动解决用户对 新能源车的使用痛点；产品方面，新一代智己LS6成为20万元级细分市场的畅销车型，旗舰车型智己 LS9的上市，则推动了品牌向上。 市场表现上，智己汽车在2025年实现了季度销量连续环比增长，连续四个月销量突破万辆，并在12月实 现了公司"首次全成本口径盈利"。在渠道与服务网络扩张的同时，公司也开启了全球化探索，顺利进入 东南亚、欧洲及澳洲市场，海外订单表现超出预 ...

Core Insights - The Guangzhou Auto Show 2025 has highlighted the popularity of Zhiji Auto, particularly with the launch of the flagship LS9 and the best-selling LS6 models, making them key attractions at the event [1][3] - The LS9 and LS6 are positioned as top choices in the 300,000 and 200,000 yuan segments of the new energy vehicle market, respectively, due to their advanced technology and competitive pricing [1][9] Group 1: Product Launch and Features - The LS9 has officially commenced nationwide user deliveries, while the LS6 continues to see strong sales, prompting Zhiji Auto to enhance production capacity in collaboration with CATL [3][9] - The LS9 is described as a "flagship" model, featuring advanced driving control, performance, intelligence, and luxury, with a starting price of 322,800 yuan [3][5] - The LS9 incorporates cutting-edge features such as the B&O luxury sound system, 4D mechanical massage seats, and intelligent floor heating, elevating it to a premium family vehicle [5] Group 2: Competitive Advantages - The LS9 boasts a unique digital chassis and advanced four-wheel steering, addressing common issues faced by traditional large SUVs, making it more agile and responsive [5][7] - The LS6 is the only 800V large battery five-seat super extended-range SUV, featuring a 66 kWh battery with a range of 450 km and ultra-fast charging capabilities [7] - The LS6 achieves a low combined fuel consumption of 2.07L per 100 km, making it an attractive option for users without home charging facilities [7] Group 3: Market Performance - Both the LS9 and LS6 have become highly sought-after models in their respective price segments, contributing to Zhiji Auto's sales exceeding 10,000 units for two consecutive months [9] - The ongoing popularity of these models is expected to strengthen the brand's growth momentum in the market [9]

Core Insights - The launch of the IM LS9 by SAIC Group marks a significant step in the luxury SUV market, aiming to compete with established brands and attract affluent consumers [2][3][4] - The LS9 features innovative technologies and unique design elements, such as heated flooring and a spacious interior, targeting a specific demographic of middle-aged consumers [2][5][6] Group 1: Product Features and Market Positioning - The LS9 is positioned as a flagship model, incorporating advanced technologies like Momenta's intelligent driving solutions and a digital chassis [2][5] - The vehicle's pricing strategy is aggressive, starting at 322,800 yuan, which is lower than competitors like Li Auto L9 and AITO M9, aiming to attract price-sensitive consumers [5][6] - The LS9's design focuses on user experience, offering features like 24-hour hot water and spacious seating arrangements, catering to the lifestyle needs of its target audience [2][8] Group 2: Market Dynamics and Competitive Landscape - The high-end SUV market is becoming increasingly competitive, with numerous brands launching flagship models, leading to a "red ocean" scenario for vehicles priced above 300,000 yuan [3][4] - The profitability of high-end models is appealing to manufacturers, as they offer healthier margins compared to lower-priced segments [4][5] - The LS9's success is crucial for SAIC Group, as it seeks to demonstrate its capability in the luxury and intelligent driving sectors, impacting investor confidence in the company's future [5][6] Group 3: Consumer Insights and Target Demographics - The target demographic for the LS9 includes affluent consumers, particularly men over 40, who prefer larger vehicles but have previously faced challenges with driving them [3][13] - The vehicle aims to balance comfort and driving performance, addressing consumer preferences for both family usability and driving enjoyment [11][12] - The LS9's features are designed to resonate with users' deeper needs, such as the inclusion of heated flooring, which reflects a focus on enhancing the overall user experience [17]

Core Viewpoint - SAIC Motor Corporation reported significant growth in its Q3 2025 financial results, driven by the expansion of its self-owned brands and new energy vehicle (NEV) business [1] Financial Performance - In Q3, the company achieved total revenue of 169.4 billion yuan, representing a year-on-year increase of 16.2% [1] - The net profit attributable to shareholders reached 2.08 billion yuan, a substantial increase of 644.9% year-on-year [1] - For the first three quarters, total revenue amounted to 468.99 billion yuan, up 9.0% year-on-year, while net profit attributable to shareholders was 8.1 billion yuan, reflecting a 17.3% increase [1] - The net cash flow from operating activities was 31.94 billion yuan, showing a significant growth of 70.9% year-on-year [1] Sales Performance - From January to September, the sales volume of self-owned brands reached 2.044 million units, marking a year-on-year growth of 29.2% [1] - Sales of new energy vehicles totaled 1.083 million units, which is a year-on-year increase of 44.8% [1] - Cumulative sales in overseas markets reached 765,000 units, with new energy vehicle exports accounting for 215,000 units, a remarkable growth of 69.7% year-on-year [1] Future Outlook - The company plans to continue increasing investments in intelligence and electrification, focusing on accelerating the mass production of core technologies such as semi-solid batteries and "Star Super Range Extender" [1]

Core Viewpoint - The article emphasizes the resilience and sustainable growth of SAIC Motor Corporation, driven by deep reforms, technological advancements, and a balanced strategy across its core segments: independent brands, new energy vehicles, and international markets [1][3][26]. Economic Performance - In the first three quarters, Shanghai's GDP reached 4,072.117 billion yuan, with a year-on-year growth of 5.5%, surpassing the national average by 0.3 percentage points [1]. - The industrial added value in Shanghai grew by 5.2%, while the total industrial output value increased by 5.7%, indicating a slight improvement over the first half of the year [1]. SAIC Motor's Sales Performance - In September, SAIC sold 440,000 vehicles, marking a year-on-year increase of 40.4% and a month-on-month increase of 21% [1]. - From January to September, SAIC's cumulative wholesale reached 319.3 thousand vehicles, up 20.5% year-on-year, with retail sales hitting 337.8 thousand vehicles [3]. Strategic Growth Drivers - SAIC's growth is attributed to the collaborative efforts of its "three driving forces": independent brands, new energy vehicles, and overseas markets, showcasing a healthy and balanced development [5][26]. - The sales of SAIC's independent brands reached 294,000 units in September, a 50.4% increase year-on-year, with a cumulative total of 2,044,000 units, accounting for 64% of total sales [5]. New Energy Vehicle Growth - In September, SAIC's new energy vehicle sales reached nearly 190,000 units, a historical high with a year-on-year growth of 46.5% [8]. - From January to September, cumulative sales of new energy vehicles reached 1,083,000 units, up 44.8% year-on-year [8]. Technological Advancements - SAIC's growth is characterized by the importance of "technology labels" as core competitive elements, with innovations such as the "Star Super Range Extender" and "Lingxi Digital Chassis" enhancing product competitiveness [11][13]. - The new MG4 model features a globally first mass-produced semi-solid-state battery, addressing cold weather performance issues [14]. Global Market Expansion - In September, SAIC's overseas sales reached 101,000 units, a year-on-year increase of 12.2%, with cumulative sales of 765,000 units from January to September [19]. - The MG brand has shown strong performance in Europe, with significant sales growth in the UK, Spain, Italy, and Germany [19][23]. Financial Performance - SAIC reported a consolidated revenue of 299.59 billion yuan in the first half of the year, a year-on-year increase of 5.2%, with a net profit of 6.02 billion yuan, reflecting a substantial growth of 432.2% [23][24]. - The net cash flow from operating activities increased by 85.9%, indicating improved operational quality [24]. Future Outlook - SAIC aims to continue optimizing retail, accelerating technology application, and advancing international operations, reinforcing its commitment to sustainable growth and customer satisfaction [26].

Sales Performance - In August, the total passenger car sales reached 1.985 million units, a year-on-year increase of 0.7% and a month-on-month increase of 7.7% [4] - The new energy vehicle (NEV) market saw sales of approximately 1.096 million units, a year-on-year increase of 8.3% and a month-on-month increase of 12.4%, significantly outperforming the overall market [4] - NEVs accounted for 55.2% of total passenger car sales in August, an increase of 2.2% from the previous month and up 3.9% year-on-year [4] New Energy Market Performance - In August, pure electric vehicle sales were approximately 704,000 units, a year-on-year increase of 20.6% and a month-on-month increase of 15.3% [9] - Plug-in hybrid sales were about 393,000 units, showing a year-on-year decline of 8.4% but a month-on-month increase of 7.5% [9] - Cumulative NEV sales reached 7.347 million units by 2025, with a cumulative year-on-year increase of 24.0% [9] Top Cities for NEV Sales - The top 10 cities accounted for 26.0% of NEV sales, an increase of 0.5% from the previous month [10] - The top three cities for NEV sales were Shanghai, Guangzhou, and Chengdu, with Tianjin replacing Ningbo in the top ten [10] - NEV penetration rates in the top 10 cities exceeded 50%, with Shenzhen leading at 65.2%, followed by Wuhan at 64.8% and Chongqing at 63.4% [10] Pure Electric Market Analysis - The top three segments in the pure electric market were B-SUV (17.0%), A0 class (16.8%), and A00 class (13.0%) [15] - The B-SUV and D-SUV market shares increased by 2.0% and 1.4% respectively, while the A-SUV market share decreased by 2.3% [15] - The C-SUV market share expanded from 3.0% to 6.6% year-on-year, with other segments showing relatively minor changes [15] User Ownership Analysis - In August, personal users accounted for 86.8% of the pure electric market, a year-on-year increase of 27.2%, while unit users accounted for 5.8%, a year-on-year decline of 5.4% [16] - Cumulatively, personal users made up 85.6% of the pure electric market, while unit users accounted for 6.3% [16] Industry Dynamics - Significant events in the NEV sector included the expansion of electronic and electrical architecture technology cooperation between XPeng Motors and Volkswagen Group [20] - GAC Group launched the "Star Source Range Extender" technology, marking its return to the range extender market after over a decade [22] - Geely released the industry's first AI cockpit, indicating a shift towards AI-driven automotive technology [24] Policy and Industry Trends - The State Council issued opinions on the implementation of "Artificial Intelligence +" actions, promoting the integration of AI across various sectors, including the automotive industry [25][29] - The focus on smart connected vehicles and intelligent manufacturing is expected to drive the transformation of the automotive industry towards greater intelligence and connectivity [29]

Core Insights - The launch of the new generation Zhiji LS6 marks a significant step for Zhiji Auto, with prices ranging from 197,900 to 269,900 yuan, and the model is now available for pre-order and delivery [2] - Zhiji Auto has entered the range-extended electric vehicle market with its "Star Super Range Extender" technology, offering a pure electric range of 450 kilometers, comparable to many pure electric models on the market [2] - The LS6 is equipped with batteries from CATL, featuring two versions of 52 kWh and 66 kWh, and can achieve a maximum comprehensive range of 1,500 kilometers with a fuel consumption as low as 0.06L per 100 kilometers [2] Sales Performance - In 2023, Zhiji Auto's total sales reached 38,000 units, with the LS6 contributing significantly, surpassing 10,000 units in December [3] - However, from January to July 2023, cumulative deliveries were 25,000 units, showing a year-on-year decline, with August deliveries at 6,108 units [3] - The LS6 is expected to play a crucial role in driving growth for Zhiji Auto, especially as it targets a price point below 200,000 yuan [3] Product Features - The new generation LS6 features advanced driving control technologies, including the upgraded "Lingxi Digital Chassis," which offers functions like blowout stability control and active anti-rollover [4] - The LS6 also introduces the IM AIOS with an AI Agent for smart assistance, integrating with WeChat for various functionalities, and has enhanced features for adverse weather conditions [4] - In terms of competition, the LS6 faces rivals such as Avita 07, Lantu FREE+, Tesla Model Y, and others, with a strategy focused on "high configuration at low prices" [4] Market Response - The initial market response to the LS6 has been positive, with over 10,000 pre-orders placed within 27 minutes of its launch, indicating strong consumer interest [5]

Core Insights - The new generation of Zhiji LS6 has been launched, featuring advanced technologies and a competitive price point below 200,000 yuan, enhancing its market position as a "technical benchmark" in the 200,000 yuan segment [1][5] Group 1: Product Features - The new Zhiji LS6 introduces the "Star Super Range Extender," addressing concerns about range anxiety and charging convenience, with a pure electric range of 450 km and a total range of 1500 km [5] - It boasts a fuel consumption of only 0.06L per 100 km, combining electric vehicle performance with cost efficiency [5] - The upgraded "Lingxi Digital Chassis" includes features like "Lingxi Blowout Stability Control" and "Active Anti-Rollover 2.0," enhancing safety and stability during high-speed and cornering situations [5][7] Group 2: Market Performance - The first-generation Zhiji LS6 has quickly established itself as a sales leader within the Zhiji lineup, accounting for over 50% of total sales, despite overall sales challenges for Zhiji [3] - The new generation LS6 is expected to revitalize Zhiji's overall performance, with pre-sales exceeding 50,000 orders before its official launch [3][5] Group 3: Interior and Comfort - The new LS6 features a high space utilization rate of 90%, providing a spacious and comfortable interior, with innovative seating designs and luxury amenities [7] - It includes advanced safety features such as a "ten vertical and ten horizontal all-direction closed-loop submarine cage body" and comprehensive safety systems for various driving scenarios [7] Group 4: Technology Integration - The vehicle incorporates an AI Agent for intelligent assistance, integrating with WeChat for various services, and features enhanced driving assistance capabilities [9] - It offers options for advanced hardware, including NVIDIA DRIVE AGX Thor chips and high-resolution laser radar, further improving driving safety and capabilities [9]

Core Viewpoint - The article discusses the advancements in hybrid and extended-range electric vehicles (EREVs) in China, highlighting their increasing resemblance to pure electric vehicles in terms of technology and performance. Group 1: New Product Launches - The introduction of the Zhiji Star Super Extended Range vehicle marks a new era for EREVs with a range exceeding 450 km [2] - Lantu recently unveiled its Lanhai Intelligent Super Hybrid technology, featuring an 800V architecture, 5C ultra-fast charging, and a 63 kWh battery, achieving a pure electric range of 350 km and a comprehensive range of 1531 km for the 2026 Lantu Dreamer MPV [2] Group 2: Market Performance - The Lantu Dreamer, as one of China's first new energy MPVs, has quietly climbed to the top three in sales rankings [4] - After four years on the market, the recent upgrade of the Lantu Dreamer includes significant enhancements such as the world's first rear-wheel steering and crab mode, AI zero-gravity seat massage, three-row heating and ventilation, Huawei ADS 4, and HarmonyOS 5, further improving its product strength [4]

Core Viewpoint - The new generation of Zhiji LS6 is positioned as a key model to drive sales growth for Zhiji Auto, with a focus on advanced technology and competitive pricing to capture market share in the high-end electric vehicle segment [3][4]. Group 1: Product Launch and Pricing - The new generation Zhiji LS6 was officially launched for pre-sale on August 15, with a price range of 209,900 to 279,900 yuan, reflecting the company's commitment to penetrate the market [3]. - The LS6 is part of a strategic "dual 6" combination with the L6 model, aimed at appealing to mainstream market demands with a price point between 200,000 and 300,000 yuan [3]. Group 2: Sales Performance - From January to July, the Zhiji LS6 sold 18,261 units, accounting for the majority of Zhiji's overall sales [3]. - In July alone, the LS6 sold only 5,809 units, leading to a total of 24,967 units sold from January to July, representing a year-on-year decline of 6.25% [4]. Group 3: Competitive Landscape - The high-end electric vehicle market is highly competitive, with established players achieving monthly sales of 30,000 to 50,000 units, while new entrants like Xiaomi and Hongmeng Zhixing are also gaining traction [4]. - Competitors such as Zeekr, Lantu, and Avita reported sales of 17,257, 12,135, and 10,062 units respectively in July, highlighting the competitive pressure on Zhiji [4]. Group 4: Technological Innovations - The LS6 features the new Lingxi digital chassis, enhancing driving performance with advanced control systems and safety features, including a 45% reduction in rollover risk [6]. - The vehicle is equipped with a 27.1-inch 5K cockpit display and advanced AI-enhanced visibility features for improved safety in adverse weather conditions [6]. - The LS6 is the first model to incorporate the "Hengxing" super range extender technology, developed in collaboration with CATL, addressing common consumer concerns about range anxiety and charging convenience [8]. Group 5: Battery and Energy Efficiency - The LS6 is powered by a 66 kWh super battery, achieving a pure electric range of over 450 km and a total range of 1,500 km [10]. - The vehicle demonstrates excellent energy efficiency, with a combined energy consumption of only 2.07 L per 100 km and a minimal fuel consumption of 0.06 L per 100 km [10]. - The battery maintains 90% capacity at temperatures as low as -20 degrees Celsius, with rapid charging capabilities starting at 170 kW [10].