Group 1 - Geely's intelligent driving business is undergoing a significant integration, consolidating various teams into Qianli Intelligent Driving [1] - The integration involves multiple teams, including around 1,500 from Zeekr, 1,000 from Geely Research Institute, and approximately 500 from Maichi Technology [1] - The strategic integration is driven by the need to enhance competitiveness in a rapidly evolving market [1] Group 2 - Qianli Intelligent Driving was established on June 27, 2025, with a diverse shareholder structure including Geely, Alibaba, and Lotus [2] - Wang Jun, the former president of Huawei's Intelligent Automotive Solutions Business Unit, is the legal representative and chairman of Qianli Intelligent Driving [2] - After the integration, Qianli Intelligent Driving will operate as an independent company and serve as a core partner in Geely's AI ecosystem, offering solutions to the entire industry [2]

Core Viewpoint - The global automotive market is entering a highly uncertain era, driven by electrification and intelligence trends, while facing significant pressure from changing international political situations and trade barriers [1][3] Group 1: Impact of Tariffs and Trade Policies - Bosch is currently unable to estimate the impact of additional tariffs imposed by the U.S. on its business before the end of the year [1] - Bosch's operations in China are minimally affected by tariff policies, with only about 2 billion RMB of product business impacted, accounting for 1.4% of Bosch China's total sales last year [1] - The recent export controls on certain rare earths by the Chinese government may have a short-term impact on Bosch globally [1] Group 2: Financial Performance and Projections - Bosch anticipates a slight global economic growth of only 2.25% to 2.75% due to increasing trade barriers, with a sales growth target of 1% to 3% for the year [3] - In FY2024, Bosch's sales are projected to be 90.3 billion euros, a decline of 1.4% from the previous fiscal year, with an EBIT margin dropping from 5.3% to 3.5% [3] - Bosch's global workforce decreased by 2.7% to approximately 417,900 employees, with further job reductions expected, particularly in Germany and Europe [3] Group 3: Market Dynamics and Competition - The global automotive production fell by 1 million units last year, with the EU and UK experiencing a 6.7% decline [4] - Bosch's smart mobility business in China grew by 4% to 116.6 billion RMB, outpacing the overall growth rate of Bosch China [4] - The Chinese automotive market is expected to maintain a growth rate of 3% to 4% in 2025, although Bosch's outlook for 2026 is cautious due to potential declines in domestic demand [4] Group 4: Strategic Investments and Future Directions - Bosch is investing in a new 250 million euro fund focused on energy efficiency and artificial intelligence [5] - The company faces challenges in balancing financial profitability with forward-looking investments in electrification and intelligence, as the transition period for electric vehicles remains uncertain [5][6] - Bosch aims to assist Chinese automotive companies in expanding internationally by leveraging its global R&D centers and overseas factories [8]

Core Viewpoint - The 2025 Shanghai International Automobile Industry Exhibition highlights the automotive industry's shift towards electrification and intelligence as essential competitive advantages, with domestic brands showcasing advanced technologies and strategies [1] Group 1: Domestic Brands - Domestic brands such as SAIC Motor, Dongfeng Motor, and BYD prominently feature intelligent electric technology as their core competitiveness at the exhibition [1] - These companies are launching multiple new technologies and strategies to strengthen their market position [1] Group 2: Joint Ventures - Joint venture brands like Volkswagen and SAIC-GM emphasize localized operations, showcasing smart connected vehicles and new energy vehicles [1] - This indicates a strategic shift towards adapting to local market demands and preferences [1] Group 3: Supply Chain Providers - Supply chain providers, including Bosch and Chipstar Technology, are introducing advanced driver assistance solutions and chip products [1] - Their participation underscores the importance of technological innovation in supporting the automotive industry's evolution [1] Group 4: Industry Trends - The exhibition serves as a barometer for industry development, reflecting the harsh survival rules of the automotive sector, where electrification is seen as the entry ticket and intelligence as the lifeline [1]