近日，蔚来推出了新ET5、新ET5T与新EC6的"冠军纪念版"车型，定价从31.6万元起。 看上去这是一次产品上的小幅更新，但其实更像是一场品牌意义上的承前启后——用一枚"冠军"勋章， 以"Formula E夺冠十周年"为名，试图在纪念与情绪之间，寻找一次品牌向上的切入点。 当下的智能电动车市场，早已从新势力与旧势力的对垒，变成了现金流与梦想的博弈。蔚来选择在2025 年二季度销量回暖节点，推出这组带有仪式感的纪念车型，也是其重启信心引擎的一次提速。 十年一轮回，"冠军"回归的不只是身份认同 将这套车型命名为"冠军纪念版"，蔚来的意图并不复杂。从2015年FE赛场的伦敦站，到2025年这场纪 念版的发布，蔚用十年时间证明了一个中国高端电动车品牌，不只可以造车，也可以造势。 而新ET5与ET5T的冠军纪念版还进行了底盘的专属升级，提升抗扭刚度、优化侧倾梯度，并搭载可调 阻尼系统与EP Mode多场景驾驶模式，性能表达不仅浮于表面。 可以说，这是一款把情绪价值、工程升级和市场需求"打包上桌"的纪念版，而非简单的换个配色。 "情绪价值"不再玄学，蔚来学会了主动营销 与其说冠军纪念版是在卖车，不如说是在重新建立一种连 ...

完整早报音频，请点击标题下方小耳机收听 【实探罗马仕深圳总部：员工照常办公称 "未停工未裁员"，但"精疲力尽"】 7 月 3 日晚，据媒体报 道称，罗马仕内部已经陆续通知员工全面停工停产，当天晚上，罗马仕官方否认倒闭。 7 月 4 日早 上，记者实地探访罗马仕深圳总部。罗马仕租用了写字楼的 15-18 层楼，在现场看到，其写字楼物 业安保较为严密，需要员工刷脸或访客预约码才能进入。目前罗马仕办公区域仍正常开放，也有员工 在办公，午饭时分，有员工下楼取外卖或外出吃饭。一位罗马仕员工强调，公司不存在跑路风险。一 位现场员工透露称，此前罗马仕曾安排全员临时担任客服，以处理大量召回咨询。目前客服工作已转 交外地的团队，"交给了更专业的人，他们比较快，我们太慢了，已经精疲力尽了。"（新浪科技） 【招聘服务员要求 "本科以下勿扰"，费大厨涉事门店回应】 近日有网友发帖称，费大厨辣椒炒肉一 门店招聘服务员，月薪五千到六千元，要求"本科学历以下勿扰"。工作内容为做好餐厅桌椅相关卫生 清洁工作，并在接待顾客时主动热情。针对该招聘要求，有网友认为，这是给"内卷火上浇油"；也有 网友表示，这是"对学历的认可"，可以提高服务行业的整 ...

随着6月份的销量数据出炉，多家车企二季度的销量表现也已经明朗，其中蔚来环比涨幅明显，堪称绝 地反击。6月份蔚来交付新车24925辆，同比增长17.5%；二季度蔚来累计交付新车72056辆，环比增长 71.2%，创下历史第二好的成绩。今年上半年，蔚来累计交付新车114150辆，同比增长30.6%。这一连 串亮眼的数据，对蔚来及其投资者和用户来说，无疑是一剂强心针。 本文源自：金融界汽车 作者：AI君 对蔚来来说，销量复苏是个积极的信号，这可能意味着黑夜即将结束，黎明将至。相比理想用"增程 式"技术打开市场，小鹏用低价产品提升销量，蔚来一直坚持纯电和高端的路线没有动摇，即便是后期 推出的乐道和萤火虫品牌，也在各自的细分市场保持了高端定位。不过蔚来还需加速，随着中国新能源 汽车市场竞争加剧，淘汰赛的门槛越来越高，留给蔚来的时间也越来越少。 不过蔚来仍然需要努力，对比理想已经盈利，小鹏月销量稳定超3万辆的成绩，蔚来的提升空间还很 大。一季度，蔚来收入120.35亿元，同比增长21.46%，但归母净利润却同比扩大31.06%至68.91亿元， 仅次于2024年第四季度71.32亿元的亏损金额。要想盈利就得抓紧卖车，截至 ...

撰 文 / 刘宝华 设 计 / 赵昊然 7月第一天，蔚来交出销量成绩单。 6月，公司三品牌总计交付新车24,925台，同比增长17.5%。二季度整体交付72,056台新车，环比一 季度大增71.2%，创下历史第二好成绩。 蔚来三品牌呈现出协同发力的良好态势。蔚来主品牌6月交付14,593台，继续担当销量主力；乐道 品牌交付6,400台，创今年月交付新高；firefly萤火虫品牌也交付3,932台，同样创下年内最佳表现。 截至目前，蔚来公司累计交付新车785,714台，其中蔚来品牌725,248台，乐道品牌52,623台，firefly 萤火虫品牌7,843台。这一数据验证了蔚来公司三个品牌不同定位的产品，正在各自细分市场逐步 站稳脚跟。 在多重挑战叠加之下，蔚来这份答卷的含金量尤为凸显。新能源汽车市场"价格战"空前惨烈，小米 SU7的强势入局更吸走了大量关注，环境异常残酷；同时，蔚来主销车型5566正处于产品切换关键 期；加之25Q1财报后遭遇密集恶意唱衰。 然而，蔚来前期投入的价值正加速兑现，成功顶住压力逆势而上，在这场硬仗中交出了一份韧性十 足的答卷，这样的表现在当前残酷的中国汽车市场大环境下显得格外珍贵 ...

Core Insights - NIO's founder and CEO Li Bin announced the successful application of the self-developed 5nm automotive-grade chip, Shenqi NX9031, in several vehicle models, marking a significant milestone for the company [1] - The performance of a single Shenqi NX9031 chip is equivalent to four NVIDIA Orin-X chips, indicating a substantial technological advancement [1] - The integration of the Shenqi NX9031 chip is expected to optimize the cost of each vehicle by approximately 10,000 yuan, which will significantly enhance NIO's vehicle gross margin [1] Company Developments - The global first automotive-grade 5nm intelligent driving chip, Shenqi NX9031, has been rolled out to models including ET9, new ES6, new EC6, new ET5, and new ET5T [1] - The successful performance of the Shenqi NX9031 chip aligns with the company's design goals, showcasing its commitment to innovation in the electric vehicle sector [1] Industry Impact - The introduction of advanced chips like Shenqi NX9031 is indicative of the growing trend in the automotive industry towards higher performance and efficiency in electric vehicles [1] - The cost optimization achieved through the new chip technology may set a precedent for other manufacturers in the electric vehicle market, potentially influencing pricing strategies and profit margins across the industry [1]

随着交付量提升，蔚来的收入也随之上涨。 6月3日，蔚来(09866.HK、NIO.NYSE)发布的2025年第一季度业绩公告显示，公司一季度收入总额达120.35亿元， 同比增长21.5%；经营亏损61.48亿元，同比增长19%。 公告显示，蔚来2025年一季度的汽车交付量达4.21万辆，同比增长40.07%。 值得一提的是，2025年一季度，蔚来的研发费用为31.81亿元，同比增长11.1%。 2025年4月，蔚来旗下的萤火虫正式上市并开始交付，与蔚来品牌、乐道品牌在汽车市场齐聚。 蔚来预计，2025年二季度，公司汽车交付量约为7.2万至7.5万辆，较2024年同期增加约25.5%至30.7%。 6月3日，蔚来管理层表示，2025年四季度NIO品牌(蔚来品牌)有望达到月销量25000辆的水平，比上年稳态2万台的 销量提高25%。同时，四季度要实现盈亏平衡。 业绩公告显示，蔚来2025年一季度的汽车交付量达4.21万辆，同比增长40.07%，包括本公司旗下蔚来品牌的高端 智能电动汽车2.73万辆，以及本公司旗下乐道品牌的家庭智能电动汽车1.48万辆。 2025年一季度，蔚来的其他销售额为20.95亿元，同比增 ...

| | | For the Three M | | --- | --- | --- | | | March 31, | Decembe | | | 2024 | 2024 | | | RMB | RMB | | Vehicle sales | 24,251.6 | 42, | | Vehicle margin | 19.3% | 1 | | Total revenues | 25,633.7 | 44.: | | Gross profit | 5,284.3 | 8,1 | | Gross margin | 20.6% | 2 | | Operating expenses | (5,869.2) | (5,2 | | (Loss)/Income from operations | (584.9) | 3,1 | | Operating margin | (2.3)% | | | Net income | 591.1 | 3,: | | Non-GAAP net income | 1,276.4 | 4.1 | | Diluted net earnings per ADS attributable to | | ...

Core Insights - NIO is accelerating its efforts in response to intense competition in the Chinese automotive market, focusing on product innovation and operational efficiency [3][12][14] - The company has launched several new models, including the ET9, ES6, EC6, ET5, and ET5T, which have contributed to a significant increase in sales [3][6][9] - NIO's sales in May reached 23,231 units, a year-on-year increase of 13.1%, with the NIO brand delivering 13,270 units and the sub-brand Lada showing a 42.8% month-on-month growth [3][6] Product and Market Performance - The new "5566" models have undergone substantial upgrades, with a 40% hardware refresh and over 200 standard features, enhancing their competitiveness in the high-end electric vehicle market [6][9] - NIO's market share in the high-end electric SUV segment has reached 49%, indicating strong brand performance [6] - The Lada brand has also seen a resurgence, with the L60 model gaining traction in the 200,000 to 300,000 yuan price range, delivering 6,281 units in May [9][11] Technological Advancements - NIO's new models are equipped with the self-developed Shenqi NX9031 chip, which significantly enhances the vehicle's intelligent driving capabilities and reduces costs by approximately 10,000 yuan per vehicle [21][25] - The company has introduced the "NIO World Model" (NWM), which improves the predictive capabilities of its autonomous driving systems [21][24] Organizational Changes and Strategy - NIO has initiated a comprehensive organizational reform aimed at improving operational efficiency and reducing costs, including the implementation of the CBU (Core Business Unit) mechanism [14][16] - The company is focusing on a multi-brand strategy, with plans to launch additional models under the Lada brand to cater to diverse consumer needs [11][19] Industry Context - The competitive landscape in the Chinese automotive market is evolving, with traditional automakers restructuring and new entrants like NIO adopting more mature business practices [17][19] - The industry is shifting from a single product focus to a more complex product matrix, emphasizing technology and ecosystem development [19][25]

Core Viewpoint - NIO aims to achieve breakeven by Q4 2025, supported by specific operational targets including monthly sales exceeding 50,000 units and maintaining a gross margin of 17%-18% [1] Financial Performance - In Q1 2025, NIO reported total revenue of 120.347 billion, a year-on-year increase of 21.5% but a quarter-on-quarter decline of 38.9% [2] - The gross profit for the same period was 9.196 billion, showing an 88.5% year-on-year increase but a 60.2% quarter-on-quarter decrease [2] - The operating loss was 64.181 billion, up 19.0% year-on-year and 6.4% quarter-on-quarter, while the net loss was 67.500 billion, a 30.2% year-on-year increase but a 5.1% quarter-on-quarter decrease [2] Sales and Delivery Trends - NIO's vehicle deliveries in Q1 reached 42,094 units, a year-on-year increase of over 40% [2] - In April and May, deliveries rose to over 23,000 units, with a projected Q2 sales target of 72,000 to 75,000 units [3] - The new models launched in late May are expected to significantly boost sales in June [6] Brand Performance - The NIO brand's main models, including the new ET5 and ES6, are anticipated to drive sales growth, with expectations of monthly sales reaching 25,000 units by Q4 [6] - The Lada brand has shown recovery, with May deliveries of 6,281 units, a month-on-month increase of over 42% [6] Strategic Focus - NIO is shifting from a direct sales model to a partnership model in overseas markets, with a long-term view on international sales [7] - The company emphasizes improving profitability over aggressive sales targets, focusing on maintaining a stable gross profit [8] Cost Management and Efficiency - NIO plans to enhance vehicle gross margins to around 15% in Q2 and over 20% by Q4 through new product launches and cost optimization [10] - The company aims to control R&D expenses between 20 billion and 25 billion, achieving a 25% efficiency improvement compared to Q1 [10] - Sales and management expenses are targeted to be kept at 10% by Q4, balancing investment and output efficiency [10]

Financial Performance - In Q1 2025, the company reported revenue of approximately 120.3 billion, a year-on-year increase of over 21% [1] - The automotive gross margin was 10.2%, compared to 9.2% in Q1 2024 and 13.1% in Q4 2024 [4] - The total revenue for Q1 2025 was 120.3 billion, with a gross profit of 919.6 million, reflecting a gross margin of 7.6% [3] Delivery and Sales - The company delivered approximately 42,100 new vehicles in Q1 2025, a year-on-year increase of 40.1% [2] - The expected total delivery volume for Q2 2025 is projected to reach between 72,000 and 75,000 vehicles, representing a year-on-year growth of 25.5% to 30.7% [1] Cost Control and Efficiency - The company has implemented a series of cost control measures starting from Q1 2025, including organizational restructuring and cross-brand integration [1] - The CFO stated that the company aims for structural improvement in overall cost efficiency starting from Q2 2025 [1] Future Outlook - The company anticipates achieving positive free cash flow within the year, with significant improvements in operational cash flow expected in Q2 2025 [4] - The founder expressed confidence in achieving profitability by Q4 2025, supported by new product launches and cost reduction efforts [5][6] Product Development - In 2025, the company plans to launch nine new models across its three brands, with six already released [5] - The third-generation ES8 is scheduled for release in Q4 2025, while two additional models from the LeDao brand are expected to launch in Q3 and Q4 2025 [5] Global Expansion - The company has shifted its global market entry strategy to partner with local firms rather than relying solely on direct sales [9] - Currently, the company has established partnerships in 15 markets and plans to continue expanding its global presence [9]