1 月4日，奇瑞集团官宣2025年成绩单：全年累计销售汽车280.6万辆，同比增长7.8%；其中出口134.4万辆，同比增长17.4%，单月出口(12月14.44万辆，同 比+46.8%)、年度出口、累计出口(585万辆)三项数据均刷新中国车企纪录，连续23年稳居中国品牌乘用车出口榜首。更值得关注的是，自主品牌销量达 263.1万辆(同比+8%)，新能源销量90.38万辆(同比+54.9%)，全球累计用户突破1853万——这组数据背后，不仅是销量的增长，更是这家"技术奇瑞"在"十 四五"收官、"十五五"谋篇的关键节点，对汽车产业变革的深度应答。 对奇瑞而言，2025年的意义远超"销量达标"。当国内汽车市场进入"存量博弈"，新能源与智能化加速重构竞争规则，这家从安徽芜湖走出的车企，正通过 多品牌协同、技术深耕、全球化生态构建，摆脱传统路径依赖，向"全球化高科技生态集团"转型。每一项决策、每一次技术落地，都指向同一个目标：在 不确定性的市场中，建立长期竞争力。 2025，奇瑞的"破局三重奏" 2025年的奇瑞，给外界最直观的感受是"精准发力"：没有盲目追逐短期热点，而是围绕"多品牌协同、技术攻坚、全球化深化"三大 ...

笃行实干，量势齐升!2025年12月，捷途汽车销售新车48851辆。2025年，捷途汽车全年累销622590辆，同比增长9.5%，年销首次突破60万辆大关。与此同 时，捷途汽车全球累销超215万辆，覆盖100个国家和地区，在16个国家中位列中国品牌SUV销量第一，持续刷新中国汽车品牌成长速度，不断夯实全球旅行 +品牌领导者地位。 【全球唯一7年累销200万辆的中国汽车品牌】 【捷途X70L】 旅行+战略开花结果，构筑高质量发展新突破 2025年，捷途汽车凭借旅行+战略优势以及差异化品类创新，有效应对新变局、塑造新优势、实现新突破，走出一条品牌价值持续跃升的高质量发展之路。 捷途汽车不仅成为全球唯一7年累销200万辆的中国汽车品牌，也首次实现年销突破60万辆，在产业变革加速的大环境中强势突围，成功跻身主流品牌阵营。 74 2 / C TE F F F ti E t ion P 作为品牌销量基石，捷途燃油车紧密贴合用户需求，迸发新活力、贡献新增量。品牌奠基之作捷途X70系列，上市87个月全球累销突破100万辆。其最新力 作"磁悬浮豪华电七座SUV"捷途X70L传承百万销量冠军基因，以越级豪华真实力，再度树立中国家 ...

中国汽车市场新能源渗透率已经过半，这个时代还需要一款更好的燃油SUV吗? 答案是，需要。 用户的答案，就是捷途汽车的答案。 日前，捷途X70系列迎来历史性时刻，上市87个月累计销量突破百万辆。数据显示，当下市场每卖出3台自主燃油大7座SUV，就有1台是捷途X70系列，"中 国大七座SUV冠军"实至名归。 百万启新篇，捷途再超越 百万家庭的信任和支持，源于捷途X70系列的"改变与不变"。改变的是，产品与体验持续进阶，引领大家庭出行方式革新;不变的是，一路安全守护。 可见之处是用心，未见之处是良心。作为捷途X70系列的旗舰进阶款，捷途X70L以"越级设计、越级性能、越级体验、越级舒适、越级安全"五大实力，精准 击中家庭用户需求，重新定义燃油车豪华标准。 与时代同行，为用户而战 新能源汽车虽蓬勃发展，但燃油车仍旧占据近半壁江山。2024年中国乘用车市场中超1200万用户选择燃油车。可以预见到，未来相当长一段时期内，全球汽 车市场都将处于油电并存时代。燃油车不会消失，而且必须持续迭代进化，以适配用户对豪华、舒适、智能的新需求。 捷途汽车自诞生以来，始终以"旅行+"战略为核心，以用户需求为导向，回答时代之问，回应用户关 ...

Core Viewpoint - Chery Automobile successfully completed its IPO on the Hong Kong Stock Exchange, marking a significant milestone as it aims to enhance its market position and expand its operations globally [2]. Group 1: IPO Details - Chery's IPO was officially listed on September 25, with an opening price of HKD 34.2 per share [2]. - The funds raised will be allocated for new vehicle development, next-generation automotive technology, overseas market expansion, and upgrading production facilities in Wuhu [2]. - Chery plans to use up to 3.69 million shares (approximately 6.74% of total shares) for employee incentives, priced at HKD 3.4 per share, with a six-year lock-up period [2]. Group 2: Sales Performance - In 2024, Chery achieved a global sales volume of 2.295 million vehicles, ranking among the top twenty car manufacturers worldwide, with a year-on-year growth rate of 49.4%, the highest in this category [2]. - The company reported a 56% year-on-year increase in domestic passenger car sales for 2024, with a remarkable 277.3% growth in new energy vehicle sales, leading the top ten domestic passenger car manufacturers [3]. - Chery's market share in China increased from 11.8% in 2023 to 14.0% in 2024, ranking second among domestic brands [3]. Group 3: Product and Brand Performance - Chery has five major automotive brands, with projected sales in 2024: Chery brand at 1.52 million, Jetour at 530,000, Exeed at 130,000, iCAR at 60,000, and Zhijie at 38,500 [3]. - The Tiggo 8 series ranked first in global sales of self-owned brand fuel vehicles in 2024, while the Jetour X70 series ranked fourth in global B-class SUV sales [3]. Group 4: International Expansion - Chery has been the top exporter of self-owned brand passenger cars in China for 22 consecutive years, with products sold in over 100 countries and regions, totaling over 13 million vehicles sold globally [3]. - In 2024, overseas revenue accounted for 37.4% of total revenue, with Chery ranking first in Europe, South America, the Middle East, and North Africa for self-owned brand passenger car sales, and second in North America and other Asian regions outside China [3][4]. - The collaboration with EV MOTORS in Barcelona marks Chery as the first Chinese self-owned brand to achieve localized production in Europe, with a total of 1,075 overseas dealers by the end of 2024 [4]. Group 5: Financial Performance - Chery's revenue for 2022, 2023, and 2024 was reported at CNY 92.618 billion, CNY 177.056 billion, and CNY 269.897 billion respectively, with net profits of CNY 5.806 billion, CNY 9.949 billion, and CNY 14.334 billion [4]. - In the first quarter of 2025, Chery reported revenue of CNY 68.223 billion and a net profit of CNY 4.726 billion [4].

Core Viewpoint - Chery Automobile has officially launched its Hong Kong IPO, aiming to issue approximately 297 million H-shares and raise up to HKD 9.14 billion, potentially becoming the largest IPO of a car company on the Hong Kong Stock Exchange in 2025 [1][3]. Company Overview - Chery Automobile, established in 1997 and headquartered in Wuhu, China, designs, develops, manufactures, and sells a diverse range of passenger vehicles, including both fuel and new energy vehicles, catering to the evolving preferences of domestic and international markets [3]. - The company operates five major automotive brands: Chery, Jetour, Exeed, iCAR, and Zhiji, each with unique positioning and aesthetic recognition, covering various segments with significant growth potential [3][4]. Market Strategy - Chery's multi-brand strategy has achieved significant success, driven by a deep understanding of market segmentation and a three-dimensional framework of "precise positioning + technological synergy + ecological diversification," allowing it to cover a price range from CNY 50,000 to CNY 500,000 [4][5]. - The brand matrix operates like interlocking gears, with each brand occupying a unique market segment while collectively driving overall growth, avoiding internal competition and saturating target markets [5]. Brand Performance - The main brand targets the mass and family user segments, with a dual-line layout through the Arrizo sedan series and the Tiggo SUV series, achieving over 1.52 million cumulative sales in 2024 and a compound annual growth rate (CAGR) of 36.9% from 2022 to 2024 [5][7]. - Jetour has rapidly reached a milestone of 1 million vehicles since its launch in 2018, with a projected sales volume of over 530,000 units in 2024 and a CAGR of 80.0% from 2022 to 2024 [7]. - The Exeed brand aims for high-end positioning, achieving sales of 130,000 units in 2024 with a CAGR of 69.7% over the past three years, focusing on "new luxury" through advanced technology [7][8]. - iCAR and Zhiji brands target the young and high-end intelligent markets, respectively, with iCAR projected to sell over 60,000 units in 2024 and Zhiji achieving sales of 38,500 units [8]. Technological Synergy - Chery's success is underpinned by a "technology sharing, brand differentiation" strategy, allowing for cost-effective R&D while maintaining brand uniqueness [9]. - The Kunpeng power system serves as the core of cross-brand collaboration, enabling shared technology across various vehicle types, enhancing overall competitiveness [9][11]. Financial Performance - From 2022 to 2024, Chery's revenue grew from CNY 92.62 billion to CNY 269.9 billion, with a CAGR of 70.7%, and net profit increased from CNY 5.81 billion to CNY 14.33 billion, reflecting a CAGR of 57.1% [14]. - In Q1 2025, the company reported revenue of CNY 68.22 billion, a year-on-year increase of 24.2%, and a net profit of CNY 4.65 billion, up 71.5% [14]. Global Expansion - Chery has established a global R&D, production, and sales network, with overseas market revenue accounting for 37.4% in 2024, enhancing its ability to mitigate risks from single markets [14][15]. - The company has 1,075 overseas dealers, ranking among the top Chinese independent passenger vehicle brands, benefiting from localized operations [15]. Strategic Insights - Chery's multi-brand strategy exemplifies a successful model for the Chinese automotive industry, transitioning from "incremental competition" to "stock game" through precise positioning and technological collaboration [17]. - The brand matrix not only demonstrates past success but also serves as a foundation for future growth, positioning Chery as a leader in the evolving automotive landscape [16][17].

Core Insights - The launch of the Jietu X70L marks a significant milestone in the Chinese family SUV market, emphasizing the brand's commitment to quality and innovation with a starting price of 109,900 yuan [1][19] - The Jietu X70 series has achieved remarkable sales, with nearly one million units sold, highlighting its dominance in the segment and the effectiveness of its market positioning [2][5] Group 1: Market Performance - The Jietu X70 series has sold over 450,000 units, making it the best-selling model in its segment, with over 230,000 units exported to countries like Kazakhstan and Ecuador [5][6] - Sales growth has been exponential, increasing from 180,000 units in 2022 to over 568,000 units projected for 2024, significantly outpacing industry averages [5][6] Group 2: Product Features - The Jietu X70L is positioned as a "maglev luxury electric seven-seater SUV," offering performance comparable to vehicles in the 300,000 to 500,000 yuan range, thus breaking price barriers in the luxury SUV market [7][19] - It features advanced technology such as a cloud platform chassis and CDC electromagnetic suspension, providing a smooth ride and addressing common family travel pain points [9][13] Group 3: Safety and Comfort - The vehicle's body is constructed with 86% high-strength steel, providing exceptional torsional rigidity, and it includes a mother-and-baby-grade healthy cabin with air purification systems [13][19] - The spacious interior boasts a 2820mm wheelbase and 32 seating configurations, catering to various family needs, from camping to daily commuting [11][19] Group 4: Brand Evolution - The term "exceeding" was emphasized during the launch event, reflecting the brand's evolution from a follower to a leader in the market, with a focus on technology and value rather than just price competition [15][19] - The pre-sale event included attractive offers such as a smart car control watch and lifetime warranty, showcasing the brand's appreciation for its million users [17][19]

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]