| 437 随心版 零霸 6.88万元 标८ 6.58元 | | --- | | 437 从容版 > ¥ 7.68元 ¥ 7.38元 | | 437 自由版 零薪 8.38万元 湖 8.08万元 | | 等价 9.68万元 补贴 9.38万元 530 智趣版 | | 半固态安芯版 零薪 10.28元 裸 9.98元元 | | 注:限时补贴价含3000元无门槛增换购补贴 | 8月29日，上汽名爵汽车宣布新MG4正式上市，售价6.88万元起。其中，半固态安芯版车型售价10.28万 元。 ...

8月28日晚， 上汽集团 (600104)披露2025年半年报。报告期内，公司实现合并营业总收入2995.88亿元， 同比增长5.23%；归母净利润60.18亿元，同比下降9.21%；扣非净利润54.31亿元，同比增长432.21%； 经营活动产生的现金流量净额210.37亿元，同比增长85.89%。 上半年，国内车市在"以旧换新"政策持续发力并带动下销量同比增长11.7%，内需得到有效改善； 整车 出口克服外部冲击影响同比增长10.4%，展现出较强增长韧劲； 新能源 汽车销量同比增长40.3%，持续 拉动产业转型升级。但同时，汽车行业竞争也更加激烈，整体盈利水平持续承压。 报告期内，上汽集团完成整车批售205.3万辆，同比增长12.4%，单月销量实现同比"六连涨"；整车零售 达到220.7万辆，继续保持国内行业第一。其中，公司自主品牌销售130.4万辆，同比增长21.1%，销量 占比提升至63.5%； 新能源车 销售64.6万辆，同比增长40.2%；海外市场销售49.4万辆，同比增长 1.3%。 在深耕内需市场的同时，上汽集团还加大海外市场开拓力度。旗下MG品牌通过调整产品结构、优化营 销渠道，巩固欧洲基盘 ...

在深耕内需市场的同时，上汽集团还加大海外市场开拓力度。旗下MG品牌通过调整产品结构、优化营 销渠道，巩固欧洲基盘销量，成为前6个月在西欧销量最高的中国品牌。同时，积极拓展中亚、非洲等 新兴市场。智己汽车加快出海步伐，IM5、IM6等产品先后登陆泰国、英国、澳大利亚等区域市场。 报告期内，上汽集团加快关键核心技术攻关。报告期内，公司推进第二代固态电池的研发和产品性能提 升，并与OPPO合作完成"生态域"全新智能座舱开发，该两项技术将于年内在新MG4上实现量产装 车。"端到端"大模型已搭载在智己L6上实现量产，并持续推进迭代升级。公司国产芯片的应用率持续提 升，并与地平线等企业推进高端芯片的技术攻关与批量装车。 另外，上汽集团还谈到了与华为的合作项目"尚界"。半年报显示，自发布全新品牌"SAIC尚界"以来， 项目团队全力以赴推进首款产品开发、临港基地改造、营销服务体系构建等工作，并通过上海车展、大 湾区车展等进行预热，为9月上市进行全力冲刺。同时，后续两款产品的开发工作也在加紧推进中，将 依托上汽与华为各自优势，进一步扩大细分市场覆盖面并快速提升规模。 今年上半年，上汽集团结合国家"以旧换新"政策，以及各地政府的 ...

8月28日晚，上汽集团（600104）披露2025年半年报。今年上半年，公司实现合并营业总收入2995.88亿 元，同比增长5.23%；归母净利润60.18亿元，同比下降9.21%；扣非净利润54.31亿元，同比增长 432.21%；经营活动产生的现金流量净额210.37亿元，同比增长85.89%。 今年上半年，国内车市在"以旧换新"政策持续发力，并带动下销量同比增长11.7%，内需得到有效改 善；整车出口克服外部冲击影响同比增长10.4%，展现出较强增长韧劲；新能源汽车销量同比增长 40.3%，持续拉动产业转型升级。但同时，汽车行业竞争也更加激烈，整体盈利水平持续承压。 面对错综复杂的市场形势，今年上半年，上汽集团一方面坚定不移深化改革，推进组织机构调整、优化 资源配置、强化激励约束等工作；另一方面全力以赴开拓市场，整车销量实现两位数增长，经济运行保 持企稳回升势头，经营韧性得到巩固增强。 报告期内，上汽集团完成整车批售205.3万辆，同比增长12.4%，单月销量实现同比"六连涨"；整车零售 达到220.7万辆，继续保持国内行业第一。其中，公司自主品牌销售130.4万辆，同比增长21.1%，销量 占比提升至 ...

报告期内，公司完成整车批售205.3万辆，同比增长12.4%，单月销量实现同比"六连涨"；整车零售达到220.7万辆，继续保持国内行 业第一。其中，公司自主品牌销售130.4万辆，同比增长21.1%，销量占比提升至63.5%；新能源车销售64.6万辆，同比增长40.2%； 海外市场销售49.4万辆，同比增长1.3%。 报告称，2025年上半年，公司加大了海外市场开拓力度。MG品牌通过调整产品结构、优化营销渠道，巩固欧洲基盘销量，成为前6 个月在西欧销量最高的中国品牌，并积极拓展中亚、非洲等新兴市场。智己汽车加快出海步伐，IM5、IM6等产品先后登陆泰国、 英国、澳大利亚等区域市场。 8月28日，上汽集团发布2025年上半年报告称，上半年，公司实现合并营业总收入2995.88亿元，同比增长5.23%，归属于上市公司 股东的净利润60.18亿元，同比下降9.21%，扣除非经常性损益的净利润54.31亿元，同比增长432.21%。 | | | | 早: 九 川ণ: 八大川 | | --- | --- | --- | --- | | 主要会计数据 | 本报告期 | 上年同期 | 本报告期比上年 | | | (1-6月 ...

8月23日，海南省商务厅发布公告，调整2025年海南省汽车置换更新补贴政策。自2025年8月25日起，在 《2025年海南省汽车置换更新补贴实施细则》基础上增加补贴限定条件：对新车购买时间为2025年8月 25日后（含当日，以《机动车销售统一发票》载明的开票日期为准）的个人消费者，所购新车应在海南 省注册登记上牌；在补贴申请审核期间，所购新车应登记在申请人名下。 海南省商务厅表示，本次汽车置换更新补贴政策调整仅为在原政策基础上增加"新车上牌地"限定条件， 并要求所购新车在补贴申请审核期间应登记在申请人名下，为原政策的有效补充。相关补贴标准、申报 流程及其它条件要求仍按照《2025年海南省汽车置换更新补贴实施细则》执行。 中国汽研：将围绕氢能汽车产业发展需求，持续开展氢能计量测试能力建设 8月23日，据中国汽研消息，近日，国家市场监督管理总局批准依托中国中检所属中国汽研筹建国家氢 能汽车产业计量测试中心。旨在提升汽车产业核心竞争力，强化计量对氢能汽车产业的技术支撑与保障 作用。当前，我国氢能汽车产业仍面临关键计量测试技术缺失、现场在线计量校准能力不足、产业专用 国产化检测设备研发滞后等瓶颈。中国汽研将围绕氢能汽 ...

Group 1 - The core point of the article is that SAIC MG has announced that the pre-sale orders for the new MG4 model have reached 30,000 units [1] - The pre-sale price range for the MG4 is set between 73,800 to 105,800 yuan [1] - The official launch of the MG4 is scheduled for August 29, with the semi-solid state battery version's price to be announced in September, and mass delivery expected within the year [1]

Group 1: Industry Forecasts - The China Passenger Car Association has slightly raised the 2025 retail sales forecast for passenger cars to 24.35 million units, representing a 6% growth, an increase of 300,000 units from the June forecast [1] - The 2025 passenger car export forecast is set at 5.46 million units, reflecting a 14% growth, with an increase of 160,000 units from the beginning of the year [1] - The wholesale forecast for new energy passenger cars in 2025 is 15.48 million units, indicating a 27% growth, with a slight decrease from the June forecast, and a penetration rate of 56% [1] - The total wholesale forecast for automobiles in 2025 is 34.04 million units, showing an 8% growth, with a 5 percentage point increase from the beginning of the year [1] Group 2: Company Developments - Li Auto's CEO revealed that the number of small orders for the Li i8 has exceeded 30,000, with the model's configuration unified to a single MAX version priced at 339,800 yuan [3] - Geely is undergoing significant adjustments in its intelligent driving team, with plans for resource integration and the establishment of a management team for its intelligent driving operations still under discussion [3] - Huawei has published a patent for an emergency obstacle avoidance system for electric vehicles, aimed at improving response rates and success rates in emergency situations [4] - Xiaomi has announced a patent for a front vehicle collision prevention system, which utilizes AI to actively control vehicle speed to prevent collisions [4] - SAIC MG has opened pre-sales for the new MG4 model, with a price range of 73,800 to 105,800 yuan, and plans for mass delivery within the year [5] - The new MG4 will feature SAIC's second-generation semi-solid-state battery, which has reduced liquid content to 5%, compared to approximately 10% in the first generation [6] - GAC Aion has announced the establishment of a nationwide fast charging network with over 14,096 direct current fast charging piles covering a "6 vertical and 11 horizontal" highway network [7] - Jiangling Motors reported July sales of 23,800 units, a year-on-year decline of 12.22%, while cumulative sales from January to July reached 196,500 units, a 5.19% increase [8] - Jaguar Land Rover appointed P.B. Balaji as the new CEO, effective from November, succeeding Adrian Mardell [9][10] - Toyota's new technology trial city, "Woven City," is set to open on September 25, with the first phase accommodating around 360 residents and plans to welcome visitors from 2026 [11]

Market Overview - The Shanghai Composite Index closed at 3559.95, down 0.37% for the week, with a trading volume of 684.645 billion CNY[18] - The average daily trading volume for the entire A-share market was 1.81 trillion CNY, a decrease of 39 billion CNY from the previous week[21] Market Style Performance - The only index that saw a gain this week was the Wind Micro Index, which increased by 1.46%[25] - The CSI 500 index fell by 1.37%, while the CSI 300 index dropped by 1.75%[25] Participant Performance - The active capital holding index outperformed, with the private equity heavy index declining only 0.65% compared to the overall market decline of 1.09% for the Wind All A Index[33] Market Sentiment - The margin trading balance increased to over 1.98 trillion CNY, reaching a new high for the year[36] - The number of stocks hitting the daily limit up or down remained relatively stable, indicating a steady market sentiment[36] Sector Performance - Strong sectors included innovative pharmaceuticals and optical modules, with significant partnerships announced in the industry[51] - The report highlighted the importance of AI applications, particularly following the approval of a government initiative to implement "AI+" actions[51] Future Outlook - Upcoming events include product launches in the TMT sector and significant industry conferences, which may influence market trends[54] - The report emphasizes a focus on active domestic circulation, technological self-reliance, and expanding openness in the market[55]

Core Viewpoint - The new MG4 from SAIC MG is set to be officially launched on August 5, featuring a high configuration with semi-solid-state batteries priced in the 100,000 RMB range, which is expected to drive the volume of semi-solid-state battery adoption [1] Group 1: Semi-Solid-State Battery Challenges - The commercialization of semi-solid-state batteries has been a significant challenge for companies like Weilan and Ganfeng, as their costs are double that of mainstream liquid batteries without substantial performance improvements [2] - NIO has opted not to widely adopt semi-solid-state batteries, only using them in specific locations like battery swap stations [2] Group 2: Cost Reduction Strategies - Qingtao Energy's approach to reducing costs involves using a composite of organic and inorganic electrolytes, which aims to lower costs while enhancing conductivity through high inorganic loading [4] - The focus on manganese-based solid-state cathode materials is expected to improve the single-cell voltage platform and significantly reduce battery costs in the future [4] - Qingtao Energy's production base in Inner Mongolia is set to produce 20,000 tons of lithium manganese oxide annually, with environmental assessments already passed, indicating potential for large-scale installation of semi-solid-state batteries supported by SAIC [4]