齐鲁晚报•齐鲁壹点记者 戚淑军 7月11日，"全球家轿新标杆"吉利银河A7正式开启预售。吉利银河A7共推出5个版型，分别是150km星舰版、150km探 索+版、150km远航版、70km探索版、70km启航版，官方预售指导价为10.38万元-13.38万元。据悉，吉利银河A7将于 本季度迎来正式上市。 即日起，用户可通过吉利银河APP、微信小程序、抖音小程序及官网等官方渠道下订，下订用户即享500抵1500元订金 券、限时免费享价值2000-5000元配置升级、优先提车权等丰厚权益。另外，预售期间下订70公里探索版及以上版型的 用户，还可限时免费享价值8800元16扬Flyme Sound无界之声，包含16扬声器（含头枕音响）+1000w功放。 作为百万银河里程碑后的全新力作，吉利银河A7基于GEA全球智能新能源架构打造，首发搭载雷神AI电混2.0、全新 Flyme Auto智能座舱等领先科技成果，以2L级油耗、超2100km续航、2845mm轴距树立全球家轿新标杆。同时，在智 能化和安全配置等方面，吉利银河A7也带来越级的产品体验，在主流家轿市场展现出"代际领先"的强大竞争力。 吉利银河A7续航表现同样出 ...

Group 1 - The company sold 236,000 vehicles in June, representing a year-over-year increase of 42.1% [1] - For the first half of the year, the company achieved total vehicle sales of 1.41 million, a year-over-year increase of 47.4% [2] - The company raised its annual sales target to 3 million vehicles, which is a 38% increase compared to the previous year [1][2] Group 2 - The company held a technology launch event for the Zeekr 9X on July 9, introducing the world's first full-stack 900V high-voltage hybrid architecture, SEA-S [1][3] - The Zeekr 9X is expected to start pre-sales at the end of August and is positioned as the brand's flagship hybrid model [3] - The Zeekr 9X features a maximum engine power of 205 kW and a thermal efficiency exceeding 46%, with a 20%-80% battery recharge time of only 9 minutes [3] Group 3 - The company expects to see significant profit growth, with net profits for 2025, 2026, and 2027 projected at 13.84 billion, 17.9 billion, and 22.3 billion yuan respectively, reflecting year-over-year increases of 47%, 30%, and 24% [1][3] - The current stock price corresponds to P/E ratios of 11, 8.6, and 7 for the years 2025, 2026, and 2027, respectively, with a recommendation to "buy" [1][3]

Core Insights - The domestic automotive market is experiencing significant changes, with BYD and SAIC leading traditional automakers with over 2 million units sold, while Geely shows a remarkable growth rate of 47% [1][2] - New energy vehicle (NEV) sales are driving growth, with companies like Leap Motor and Xiaomi making notable gains, while NIO and Lantu face sales pressures [1][2][3] - The second half of the year is expected to see intensified competition across various dimensions, including product offerings, technology, cost control, and supply chain resilience [1] Group 1: Traditional Automakers - BYD leads the market with 2.146 million units sold in the first half of 2025, with 470,000 units coming from overseas, marking a 132% year-on-year increase [2] - SAIC follows closely with 2.053 million units sold, achieving a 21.1% year-on-year growth in its domestic brand sales [2] - Geely's total sales reached 1.409 million units, with NEV sales contributing significantly, totaling 725,200 units, a 126% increase year-on-year [2] Group 2: New Energy Vehicle Makers - Leap Motor emerged as a dark horse with a 221.6% year-on-year increase, delivering 221,700 units in the first half of 2025 [1][3] - Xiaomi's SU7 achieved over 150,000 deliveries, with the new YU7 model receiving over 200,000 orders within three minutes of its launch [3] - NIO's sales were only 114,000 units, with Lantu and other brands struggling to meet sales targets, indicating a growing divide in the new energy vehicle sector [3] Group 3: Market Trends and Future Outlook - The automotive market is benefiting from government subsidies, with over 4.12 million applications for vehicle trade-in subsidies, of which over 53% are for NEVs [4] - A total of 138 billion yuan in central funding will be distributed in the second half of the year to support the market [4] - New models are set to launch in July, including vehicles from XPeng, Chery, and others, as companies aim to meet their annual sales targets [4] - The industry forecast for 2025 has been revised upward, predicting retail sales of 24.05 million passenger vehicles, a 5% year-on-year increase [5]

《汽车智能驾驶技术及产业发展白皮书》发布 7月8日，由中国汽车技术研究中心牵头、清华大学与华为参与撰写的《汽车智能驾驶技术及产业发展白皮书》正式联合发 布。该白皮书以宏观角度系统阐述智能驾驶产业未来发展图景，涵盖智能驾驶相关概念、技术演进路径、产业化实现方案、多 元化应用场景、全维度安全体系构建、产业生态协同发展及未来趋势研判，覆盖GB/T40429-2021标准定义的L0-L5驾驶自动化全 场景功能体系。 乘联分会：6月新能源乘用车国内零售销量达111万辆，同比增长29.7% 7月8日消息，乘联分会数据显示，6月新能源乘用车国内零售销量达111.1万辆，同比增长29.7%；1-6月累计零售546.8万 辆，同比增长33.3%。 四部门：加强运输途中意外伤亡货车司机帮扶救助 国内新闻 中国乘用车企业平均燃料消耗量同比下降12.4% 工业和信息化部近日公告2024年度中国乘用车企业平均燃料消耗量与新能源汽车积分情况。2024年度，中国境内117家乘用 车企业共生产/进口乘用车2318.9万辆（含新能源乘用车，不含出口乘用车），WLTC工况下行业平均燃料消耗量为3.31升/100公 里，同比下降12.4%。 铃木 ...

Group 1 - Geely Auto raised its annual sales target by 10.7% from 2.71 million to 3 million units, reflecting the company's confidence in its growth for the year [1] - In June, Geely's total sales reached 236,000 units, a year-on-year increase of 42.1% and a month-on-month increase of 0.4% [1] - New energy vehicle sales in June were 122,400 units, showing a year-on-year growth of 85.5%, although there was a month-on-month decrease of 11.3% [1] Group 2 - The sales of the Geely brand in June were 193,000 units, representing a year-on-year increase of 58.8% and a month-on-month increase of 2.3% [2] - Geely Galaxy's sales in June reached 90,200 units, a significant year-on-year increase of 201.8%, despite a month-on-month decrease of 11.4% [2] - The Galaxy A7, featuring advanced technology and competitive pricing, is expected to boost the sales of Geely's new energy vehicles further [2] Group 3 - Zeekr brand sales in June were 16,700 units, a year-on-year decrease of 16.9% and a month-on-month decrease of 11.7% [3] - Lynk & Co brand sales in June were 26,300 units, showing a year-on-year increase of 7.7% but a month-on-month decrease of 4.8% [3] - The introduction of the Zeekr 9X, featuring innovative hybrid technology, is anticipated to positively impact Zeekr's sales in the upcoming quarters [3]

Core Insights - BYD leads the new energy vehicle market with a total sales of 2.146 million units in the first half of the year, significantly outpacing competitors [2][3] - The competition among major automakers is intensifying, with a focus on achieving over one million units in sales to be considered among the top players [2][4] Group 1: Sales Performance - BYD's sales reached 2.146 million units, marking a 208.64% year-on-year increase from 1.863 million units in 2022 [3] - SAIC Group reported sales of 2.053 million units, a 12.35% increase year-on-year, with over 1.24 million units sold by SAIC Volkswagen and SAIC-GM Wuling [3][4] - Geely's sales reached 1.409 million units, a 47% increase, with pure electric vehicle sales exceeding 510,000 units, up 173% [4] - Changan Automobile achieved sales of 1.355 million units, a 1.59% increase, while Chery Group reported 1.26 million units sold [4] Group 2: Market Strategies - Automakers are intensifying their product and technology offerings to compete with BYD, particularly in the 60,000 to 300,000 yuan price range [5] - Changan's Avita brand launched the Avita 06 model targeting the sub-300,000 yuan market, directly competing with BYD's Han model [5] - Geely introduced the Galaxy Star 8 at a starting price of 115,800 yuan, expanding its offerings in the competitive price segment [5] Group 3: Technological Advancements - The competition in intelligent driving technology is heating up, with BYD launching the "Tian Shen Zhi Yan" system for lower-priced models [6][7] - Chery and Geely are also enhancing their smart driving solutions, with Chery's "Hunting Eagle Smart Driving" and Geely's "Qian Li Hao Han" systems [6][7] Group 4: International Expansion - BYD's overseas sales reached over 470,000 units in the first half of the year, with a 229.8% increase in June alone [8] - SAIC Group's overseas sales and exports reached 494,000 units, a 1.27% increase year-on-year [9] - Chery's exports exceeded 550,000 units, contributing 44% to its total sales, highlighting the importance of international markets for growth [10]

Core Insights - In the first half of 2025, eight major automotive groups reported a total sales volume of 11.18 million vehicles, all achieving year-on-year growth [1][2] - BYD maintained its leading position with over 2.14 million units sold, followed closely by SAIC Motor with over 2.05 million units [1][3] - Geely adjusted its annual sales target upward by 11% after achieving a 47% completion rate in the first half [1][6] Group Performance - **BYD**: Sold 2.146 million vehicles, a 33% increase year-on-year, with overseas sales reaching 472,000 units, up 132% [3][4] - **SAIC Motor**: Achieved sales of 2.053 million vehicles, a 12.4% increase, with a retail delivery of 2.207 million units [4][5] - **China FAW**: Reported sales of 1.57 million vehicles, a 6.1% increase, with a 46% target completion rate [6][10] - **Geely**: Sold 1.409 million vehicles, a 47% increase, with a significant rise in new energy vehicle sales [6][7] - **Changan**: Achieved sales of 1.355 million vehicles, marking a historical high, with new energy vehicle sales growing by 48.8% [8][9] - **Chery**: Sold 1.26 million vehicles, a 14.5% increase, with a strong export performance [9][10] - **BAIC Group**: Reported sales of 817,000 vehicles, a 6% increase, with a notable growth in its own brand sales [10] - **Great Wall Motors**: Achieved sales of 570,000 vehicles, a slight increase of 1.8%, but faced a decline in overseas sales [10] Target Achievement Rates - **Geely**: Highest target completion rate at 47% after adjusting its annual target [6][7] - **China FAW and SAIC Motor**: Both achieved a target completion rate of 46% [1][6] - **Changan**: Completed 45% of its sales target [1][8] - **Chery**: Achieved a target completion rate of 40% [1][9] - **BYD**: Completed 39% of its annual target [1][3]

01 事件概述 公司发布6月销量公告，6月批发总销量23.6万辆，同比+42.1%，环比+0.4%；1-6月批发总销量140.9万辆， 同比+47.4%。其中，6月新能源销量122,367辆，同比+85.5%，环比-11.3%，渗透率51.8%；1-6月新能源累 计72.5万辆，同比+126.5%。分品牌看：吉利品牌6月销量19.3万辆（银河90,222辆（含几何））；极氪6月 销量16,702辆；领克6月销量26,310辆。 02 分析判断 ► 1-6月新能源销量同比大增 全年销量300万辆 6月公司总批发销量23.6万辆，同比+42.1%，环比+0.4%；出口方面，公司6月出口销量4.0万辆，环比实现增 长，表现亮眼。展望后续，吉利银河A7预计2025Q3上市，定位10-13万元插混家轿，搭载新一代混动系统， 实测满油满电综合续航约2,100公里，轴距2.85米，续航、空间表现优异。吉利银河M9预计在2025Q3上市， 定位为大型六座插电混动SUV，除空间、续航之外，搭载千里浩瀚H5辅助驾驶系统，支持高速自动紧急刹车和 无图城市导航辅助驾驶。因上半年超预期表现，集团将原目标271万辆上调约11%至300万 ...

Core Viewpoint - The company reported strong sales growth in June and the first half of the year, particularly in the new energy vehicle segment, leading to an upward revision of annual sales targets to 3 million units [1][2]. Sales Performance - In June, total wholesale sales reached 236,000 units, a year-on-year increase of 42.1% and a month-on-month increase of 0.4% [1][2]. - Cumulative wholesale sales for the first half of the year were 1.409 million units, up 47.4% year-on-year [1]. - New energy vehicle sales in June were 122,367 units, representing an 85.5% year-on-year increase but a 11.3% decrease month-on-month, with a penetration rate of 51.8% [1][2]. - Total new energy vehicle sales for the first half of the year reached 725,000 units, a significant increase of 126.5% year-on-year [1]. Product Launches and Future Outlook - The company plans to launch the Galaxy A7 and M9 models in Q3 2025, targeting the hybrid sedan and large six-seat hybrid SUV markets, respectively [2][3]. - The Galaxy A7 will feature a new hybrid system with a comprehensive range of approximately 2,100 kilometers, while the M9 will include advanced driving assistance features [2]. - The company aims for total sales of 710,000 units in 2025, with specific targets for the Zeekr and Lynk brands [3]. Strategic Moves - The company is considering the privatization of Zeekr to consolidate resources and enhance operational efficiency, aligning with its strategic focus on high-end electric vehicles [3]. - The proposed acquisition price for Zeekr shares is $2.566 or 1.23 newly issued shares for each Zeekr share [3]. Financial Projections - Revenue projections for 2025-2027 are estimated at 404.78 billion, 489.69 billion, and 572.83 billion yuan, with net profits of 16.21 billion, 22.09 billion, and 25.98 billion yuan, respectively [4]. - Earnings per share (EPS) are forecasted at 1.61, 2.19, and 2.58 yuan for the same period, corresponding to price-to-earnings ratios of 9, 7, and 6 times based on the closing price of 16.32 HKD on July 2 [4].

吉利汽车（0175.HK）系列点评二十九 新能源持续亮眼 全年销量目标 300 万辆 2025 年 07 月 02 日 ➢ 事件概述： 公司发布 6 月销量公告，6 月批发总销量 23.6 万辆，同比+42.1%，环比+0.4%； 1-6 月批发总销量 140.9 万辆，同比+47.4%。其中，6 月新能源销量 122,367 辆，同比+85.5%，环比-11.3%，渗透率 51.8%；1-6 月新能源累计 72.5 万辆， 同比+126.5%。分品牌看：吉利品牌 6 月销量 19.3 万辆（银河 90,222 辆（含 几何））；极氪 6 月销量 16,702 辆；领克 6 月销量 26,310 辆。 ➢ 1-6 月新能源销量同比大增 全年销量 300 万辆。6 月公司总批发销量 23.6 万辆，同比+42.1%，环比+0.4%；出口方面，公司 6 月出口销量 4.0 万辆，环 比实现增长，表现亮眼。展望后续，吉利银河 A7 预计 2025Q3 上市，定位 10- 13 万元插混家轿，搭载新一代混动系统，实测满油满电综合续航约 2,100 公里， 轴距 2.85 米，续航、空间表现优异。吉利银河 M9 预计在 ...