本文源自：市场资讯 作者：观察君 广发证券在2月28日发布的研报中指出："继续关注'自主加速平替合资燃油车+高端SUV'竞品组合的表 现。其中比亚迪秦PLUS组合中海豹06、银河A7自上市以来份额表现亮眼；比亚迪唐组合中，银河M9 自上市以来销量表现亮眼。"中国银河证券在同日研报中表示："展望春节后，复产复工有序推进，全国 首个A级车展北京车展临近（4月24日-5月3日），车企即将进入2026年上半年旗舰新品发布周期，理想 L9Livis、小鹏GX、比亚迪大唐、小米YU7GT、新款SU7、问界M6、魏牌V9X、智界V9、极氪8X等新 车有望上市，市场迎来新一轮密集供给，有望带动市场需求回暖。" 声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 3月1日，比亚迪股份在港交所发布2026年2月产销快报。数据显示，公司2月乘用车销量为187782辆，同 比下滑36.00%。其中，纯电动乘用车销量79539辆，同比下滑35.00%；插电式混合动力乘用车销量 108243辆，同比下滑36.70%。从动力结构看，插混车型仍是比亚迪乘用车销量的主要支撑，占比约 57.6%。 公告同 ...

【文/观察者网 潘昱辰 编辑/高莘】日前，有消息称前荣耀首席营销官（CMO）郭锐已于2025年年底确 定加盟智界汽车，出任首席执行官(CEO)一职，内部计划近期官宣这一消息。 郭锐毕业于北京大学信息科学技术学院，获理学博士学位。在2017—2021年期间，郭锐任华为终端大中 华区CMO；荣耀品牌独立后，他加入新的荣耀创业团队，任荣耀品牌营销部（一级部门）总裁，统一 管理品牌、营销各体系工作。2025年上半年，郭锐曾主导了全新Power系列、数字400系列、Magic V5 等重要产品的上市营销。 2025年12月，郭锐于个人朋友圈宣布离开荣耀。 智界汽车则是由奇瑞汽车与华为合作的汽车品牌，属于鸿蒙智行。2025年8月，华为与奇瑞宣布深化战 略合作，开启"智界品牌2.0战略"。双方共同投入百亿资金，组建5000人的专属研发团队，为智界品牌 的技术升级和市场拓展提供支撑。同年，新款智界S7和新款智界R7相继推出。此外，华为常务董事、 终端BG董事长余承东还于去年11月宣布鸿蒙智行首款MPV车型V9将落户智界。 另外在今年1月，前腾势总经理赵长江已宣布加入智界汽车，担任执行董事及执行副总裁。他还曾转发 余承东宣传智 ...

1-2月处于我国传统春节消费淡季，叠加政策退坡影响，国内销量阶段性回落，展望春节后，复产复工 有序推进，全国首个A级车展北京车展临近(4月24日-5月3日)，车企即将进入2026年上半年旗舰新品发 布周期，理想L9 Livis、小鹏GX、比亚迪大唐、小米YU 7GT、新款SU7、问界M6、魏牌V9X、智界 V9、极氪8X等新车有望上市，市场迎来新一轮密集供给，有望带动市场需求回暖，新能源渗透率有望 触底反弹。 风险提示 智通财经APP获悉，中国银河证券发布研报称，以旧换新政策补贴标准优化有效引导消费者换购更高价 位车型，预计将提升以旧换新政策效果，对汽车市场消费形成更为有利的支撑作用。展望春节后，复产 复工有序推进，全国首个A级车展北京车展临近(4月24日-5月3日)，车企即将进入2026年上半年旗舰新 品发布周期，市场迎来新一轮密集供给，有望带动市场需求回暖，新能源渗透率有望触底反弹。该行推 荐处于新车强周期的乘用车头部企业、智能化产业链与人形机器人产业链。 中国银河证券主要观点如下： 以旧换新政策初现成效，已拉动汽车消费超千亿元，补贴标准优化后带动以旧换新购车均价提升至超16 万元 据央视财经数据，截至2 ...

每经AI快讯，中国银河（601881）证券研报表示，1-2月处于我国传统春节消费淡季，叠加政策退坡影 响，国内汽车销量阶段性回落，展望春节后，复产复工有序推进，全国首个A级车展北京车展临近(4月 24日-5月3日)，车企即将进入2026年上半年旗舰新品发布周期，理想L9Livis、小鹏GX、比亚迪 （002594）大唐、小米YU7GT、新款SU7、问界M6、魏牌V9X、智界V9、极氪8X等新车有望上市，市 场迎来新一轮密集供给，有望带动市场需求回暖，新能源渗透率有望触底反弹。 ...

Core Insights - In 2026, the company plans to launch new products, expand channels, and venture overseas, indicating a multi-faceted growth strategy [1][4] - The appointment of Guo Rui as CEO marks a significant leadership change, bringing in expertise from Huawei and the consumer sector [1][2] Company Developments - Guo Rui, previously with Huawei and Honor, has joined the company as CEO, with plans for an official announcement soon [1][2] - The company has launched two models, S7 and R7, targeting the 200,000 to 300,000 yuan market segment, with a total sales forecast of approximately 58,000 units in 2024 [2] - The company is set to introduce its third model, V9, along with a new large SUV R9 and updated versions of S7 and R7 in 2026 [4] Market Strategy - The company aims to open 100 to 200 exclusive brand stores this year and plans to begin international expansion in the second half of the year [4] - The company has transitioned to an independent operational model under Huawei's HarmonyOS, enhancing its market presence [2][4] - Guo Rui's recruitment reflects a trend of Huawei alumni moving into the automotive sector, indicating a growing influence of tech expertise in the industry [4]

Core Insights - In 2026, Zhijie is focusing on launching new products, expanding channels, and going overseas while continuing to strengthen its executive team [1] - The company has recently appointed Guo Rui, a veteran from Huawei, as CEO, indicating a strategic move to enhance leadership [1][3] Company Developments - Guo Rui has a diverse background in consumer goods and technology, having worked with companies like Procter & Gamble, COFCO, and Huawei, where he led brand marketing efforts [3] - Zhijie, a smart electric brand co-created by Huawei and Chery, has launched two models, S7 and R7, targeting the 200,000 to 300,000 RMB market segment [5] - The company plans to introduce its third model, V9, an MPV, along with a new large SUV R9 and updated versions of S7 and R7 in 2026 [5] Sales Performance - In 2024, Zhijie sold approximately 58,000 vehicles, with S7 and R7 performing nearly equally [5] - Sales increased to 91,000 vehicles in 2025, although S7 saw a decline of over 60% year-on-year, with R7 becoming the main sales driver [5] Strategic Initiatives - Zhijie aims to open 100-200 exclusive brand stores throughout the year and plans to begin international expansion in the second half of 2026 [5] - The brand has transitioned to an independent operation under Huawei's HarmonyOS, marking a significant shift in its business model [5] Industry Trends - The influx of Huawei talent into the automotive sector is notable, with several executives from Huawei joining new energy vehicle companies [6]

Core Insights - The core idea presented by Zhao Changjiang, Executive Director and Vice President of Zhijie Automotive, emphasizes that the essence of MPVs (Multi-Purpose Vehicles) is to adapt to people rather than having people adapt to space [1][5]. Group 1 - The space is described as the soul of MPVs, addressing pain points in scenarios such as solitude, gatherings, and business communication, which reflects the emotional value of the Zhijie V9 as a vehicle that understands its users [1][5]. - The future trend indicates that MPVs equipped with rotating seats may become a necessity, positioning them as standard features in high-end MPVs, showcasing a design that understands human needs and emphasizes situational relevance [1][5].

Core Insights - The vehicle features a new interior design called "Velvet Purple" and can be paired with an exterior color named "Radiant Purple" [3] - The second-row seats are equipped with rotating capabilities, allowing for three modes: 45-degree welcoming, 90-degree viewing, and 180-degree facing each other, facilitating various scenarios such as meetings and sightseeing [3] - The second row includes dual zero-gravity seats and a one-touch adjustable "Space Recline" mode, with a leg support length of 1.05 meters [3] - Interior materials consist of white ash and walnut wood trim, NAPPA leather, and crystal decorations with diamond-cut craftsmanship, emphasizing the focus on cabin design and comfort features [3]

Group 1 - The core viewpoint of the article highlights the unveiling of the interior design and features of the new MPV model V9 from Zhijie, emphasizing its high-end configurations aimed at rear passenger comfort [1] Group 2 - The front row of the V9 features a tri-screen design with optimized screen bezels [1] - The second row is equipped with 180-degree rotating airline seats, an oxygen-generating air conditioning system, rear entertainment screens, and a built-in refrigerator [1] - The third row consists of two independent seats with electric adjustment capabilities [1] Group 3 - The exterior design of the Zhijie V9 includes a closed front face and a贯穿式 light strip [1] - The vehicle dimensions are 5359 mm in length, 2009 mm in width, and 1879 mm in height, with a wheelbase of 3250 mm, featuring a 2+2+3 seven-seat layout [1] Group 4 - The power system of the V9 is powered by Huawei's Xueyao intelligent range extender system, which includes a 1.5T range extender and front and rear dual motors [1] - Battery options include a 37 kWh lithium iron phosphate battery and a 53 kWh ternary lithium battery, with corresponding WLTC pure electric ranges of 158 km and 210-223 km, respectively [1] - The CLTC comprehensive range can reach over 1250 km [1]

Core Viewpoint - The MPV market in China is undergoing significant transformation, with at least six new models set to launch by 2026, driven by evolving family vehicle demands and advancements in new energy technology [1] Group 1: Market Dynamics - The MPV segment has shifted from a niche market to a competitive battleground, influenced by the increasing demand for family-oriented vehicles and the rise of new energy technologies [1] - The emergence of large six-seat SUVs is diverting demand away from MPVs, necessitating a focus on enhancing space comfort and accelerating the transition to family-oriented designs [6][8] - The MPV market is experiencing a structural explosion in demand, with family usage surpassing business use, as evidenced by 58% of MPV sales being for family purposes in 2025 [6] Group 2: New Model Launches - Multiple new MPV models are set to enter the market, including the Leap Motor D99, which features an 80.3 kWh battery for extended range, and the Galaxy V900, which offers a spacious trunk [3] - High-end models are also being introduced, such as the Lantu flagship MPV with L3-level autonomous driving capabilities and the Huawei-powered Zhijie V9, which is expected to launch in spring 2026 [3] Group 3: Sales Performance - In December 2025, 70% of the top ten MPV sales were from new energy vehicles, with the Wey brand's Gaoshan leading at 10,558 units sold [4] - Traditional brands like Toyota and Buick continue to dominate, with the Toyota Granvia and Sienna ranking second and third in sales, while Honda's models are experiencing a decline [5] Group 4: Competitive Strategies - Companies are focusing on differentiated features to enhance their competitive edge, such as the Zhijie V9's rotating second-row seats and the D99's advanced driving assistance systems [7] - The trend towards multifunctional MPVs is emerging, with some models designed for camping and outdoor activities, showcasing the versatility of MPVs [7] Group 5: Future Outlook - The MPV market is expected to see increased concentration, with the top ten manufacturers accounting for 78.3% of total sales in 2025, indicating a trend towards market consolidation [8] - The competition in the MPV sector is anticipated to intensify, with a focus on smart technology and electric upgrades as key differentiators for companies aiming to capture market share [8]