ZUZSFE 同比增长8.5 总销量强势领跑 连续6年 三大新能源品牌齐创新高 海外销量乘风破浪用 本报讯 （记者冯雨瑶）在2025年汽车行业竞争白热化的市场环境中，长安汽车（000625）以一系列突破性业绩，提交了一份企业稳健向上的出色答卷。 2026年1月2日发布的销量快报显示，长安汽车2025年全年总销量强势领跑，创近9年新高。与此同时，新能源板块首破百万辆大关，三大新能源品牌齐创新 高；海外市场亦乘风破浪，再创佳绩。2025年，长安汽车以"四大维度齐创新高"的优秀成绩，系统展现了企业高质量发展的强劲势头和可持续发展的战略韧 性。 另一方面也根植于长安汽车始终坚持以科技创新，持续夯实自身核心竞争力。新能源领域，自研"金钟罩"电池、智慧新蓝鲸，以及行业首款多合一电驱等成 果相继落地；智能化领域，"北斗天枢"计划迭代至2.0版，打造了全球领先的SDA平台，发布了"新长安 新安全——天枢智能"品牌、确立了"泛安全"体系。 特别是在智能驾驶领域，长安汽车作为首批获得L3级自动驾驶产品准入许可的汽车企业，率先推动中国汽车品牌进入L3级自动驾驶时代，将技术优势直接 转化为产品竞争力与用户信任力，智能化正成为驱动企业 ...

证券代码：000625、200625 证券简称：长安汽车、长安 B 编号：2025-34 长安机器人公司的设立符合国家"十五五"规划和长安汽 车战略转型发展方向，其定位为公司机器人产业战略承载 体，以智能人形机器人技术为牵引，发展多机器人产业板 | 投资者关系活 动类别 | □特定对象调研 □分析师会议 | | --- | --- | | | □媒体采访 □业绩说明会 | | | □新闻发布会 ■路演活动 | | | □现场参观 | | | □其他（请文字说明其他活动内容） | | 参与单位名称 | 长信基金、华泰柏瑞基金、农银汇理、浦银安盛基金、华泰保 | | 及人员姓名 | 兴基金、国联资管、巨子私募基金、长安基金、平安资产、仙 人掌私募基金、合远私募基金、同犇投资、白犀私募基金、中 | | | 泰证券资管、华宝基金、华福证券资管、博道基金、惠升基金、 | | | 泰信基金、西部利得基金 | | 时间 | 2025 年 12 月 09 日 - 12 月 10 日 | | 地点 | 上海 | | 上市公司接待 人员姓名 | 投关总监——蒋沙 | | | 1.请问公司近期销量情况？ | | | 答：公司 11 ...

Core Insights - Changan Qiyuan A06 has received over 30,000 orders within a month of its launch, but long delivery times have led to customer complaints [2][5][6] - The production capacity constraints at the Changan Ford second factory are the primary reason for the extended delivery times [3][5] - Changan Qiyuan is pursuing a "big product" strategy, aiming for annual sales of 200,000 units for key models, with Qiyuan A06 seen as a potential flagship [7][8] Production and Delivery Issues - The delivery cycle for Qiyuan A06 is currently at least one month due to limited factory capacity, with most vehicles being delivered to customers who placed orders in early November [3][5] - The Changan Ford second factory, which has been modified to produce Qiyuan A06, has a designed capacity of 350,000 units but is currently ramping up to produce 70,000 units annually [3][5] - As of November 30, Qiyuan A06 has accumulated orders exceeding 30,000, indicating a supply-demand imbalance [5] Customer Reactions - Some customers have opted to cancel their orders due to the lengthy wait times, particularly with the impending end of purchase subsidy policies [6] - Changan Qiyuan is exploring solutions to address the delays, including production material guarantees and tax policy support [6] Sales Strategy - Changan Qiyuan's strategy includes the development of "big products" that can achieve sales of over 20,000 units annually, with Qiyuan A06 and other models like Q05 identified as potential candidates [7][8] - The current sales performance shows that while Qiyuan has exceeded 30,000 units in sales for several months, reliance on models like Lumin is insufficient for long-term success [8]

Core Viewpoint - The article discusses the sales performance and customer demographics of the Leap C10 electric vehicle, highlighting its competitive pricing and features in the current market environment [1]. Sales Performance - In October, the store received 39 orders, with 13 units of the C10 sold, indicating a steady demand despite the recent pause in national subsidies [2]. - The store currently has 10 units in stock, with the most popular configuration being the 650悦享版, which has 7 units available, predominantly in black and gray [2][15]. Customer Demographics - The primary customers for the C10 are divided into two groups: middle-aged male customers, typically business owners or private sector employees, who prioritize practicality and cost-effectiveness [3]. - The second group consists of younger female customers, often students or recent graduates, who are more influenced by aesthetics and brand perception [4]. Competitive Analysis - Customers frequently compare the C10 with competitors such as BYD Song PLUS and Deep Blue S07, with battery quality and brand reputation being significant factors in their decision-making process [8][9]. - Older customers express concerns about the Leap brand compared to more established brands like BYD, particularly regarding battery reliability [9]. Pricing and Discounts - The C10 was initially priced firmly upon launch, but by August, discounts of around ¥5,000 became available, with potential total savings reaching nearly ¥20,000 when including government subsidies [15]. - The most popular configuration, the 650悦享版, is priced at ¥125,800 after discounts, with financing options available [16]. Customer Feedback - Common complaints from customers include concerns about battery performance and the vehicle's range, with some attributing these issues to the choice of battery supplier [19]. - Maintenance costs for the C10 are approximately ¥150 for electric models and ¥300-400 for range-extended versions, with service intervals set at 10,000 kilometers or annually [21]. Purchase Incentives - The company offers a trade-in subsidy of ¥4,000 and has recently introduced promotional activities, including a lottery for purchase credits during the National Day period [22].

Core Insights - Changan Automobile's new energy brand, Changan Qiyuan, reported impressive sales figures, achieving 36,737 units in October 2025, maintaining a monthly sales volume of over 30,000 since August, indicating its strong position in the mainstream new energy vehicle market [2] - Despite the strong sales, there are underlying concerns regarding the sales structure, with the Changan Lumin micro electric vehicle contributing significantly to overall sales, while the flagship model, the Qiyuan Q07, has lower sales figures [2][3] - The brand aims for ambitious sales targets, planning to reach 500,000 units domestically by 2026 and 2 million globally by 2027, but current sales figures for key models fall short of these goals [3][4] Sales Performance - In October 2025, Changan Qiyuan's monthly sales reached 36,737 units, with the Lumin model consistently selling over 20,000 units monthly, while the Q07 model sold 11,637 units in the same month [2] - The cumulative sales for the Q07 since its launch stand at 79,935 units, indicating a gap compared to the Lumin's performance [2] Strategic Direction - Changan Qiyuan is pursuing a high-end market strategy, with the new marketing head expressing intentions to compete with brands like Li Auto and AITO [3] - The brand has set a target of selling 20,000 units annually for its core models, but the Q07's current sales are significantly below this benchmark [3] Product Development - The brand plans to launch 4-5 new models in the fourth quarter of this year and the first half of next year to optimize its product structure [4] - However, the lack of core technological breakthroughs and brand value enhancement may hinder the brand's ability to achieve significant transformation [4] Quality Control Issues - There has been a notable increase in complaints regarding Changan Qiyuan's vehicles, particularly the Q07, which has faced issues related to misalignment between marketing claims and actual product performance [3][4]

Core Insights - Changan Automobile has introduced a "new safety" value system, shifting the paradigm from "passive safety" to "active intelligent comprehensive safety" [2][3] - The company aims to provide users with ultimate safety in smart mobility solutions, expanding its safety concept to include driving safety, health safety, psychological safety, and privacy safety [2] - The newly launched Q05 model features advanced intelligent driving assistance and is positioned as a global urban premium pure electric SUV, priced between 79,900 to 109,900 yuan [3] Group 1 - Changan's Tian Shu intelligent brand encompasses various smart technologies, including intelligent cockpit, intelligent driving, and intelligent chassis [2] - The Tian Shu intelligent driving assistance system utilizes end-to-end technology to identify risk scenarios in real-time, enhancing safety during driving [2] - The company plans to launch over 50 new energy models by 2030, all equipped with Tian Shu intelligence, aiming for overseas sales to exceed 30% [3] Group 2 - The Tian Shu intelligent cockpit integrates AI large models and intelligent agent technology, enabling seamless service execution from semantic understanding [2] - The Tian Shu intelligent chassis enhances response capabilities in extreme scenarios, showcasing the company's commitment to safety as a non-negotiable baseline [3] - Changan's focus on safety reflects its mission as a new central enterprise, emphasizing the importance of safety in its product offerings [3]

Core Viewpoint - Changan Automobile has introduced a new safety value system and the "Tianshu Intelligent" brand at the Guangzhou International Auto Show, emphasizing the transition of automotive safety from passive to active measures in response to the evolving electric and intelligent vehicle landscape [1] Group 1: New Safety Value System - The new safety paradigm is described as a non-negotiable baseline for automotive companies, highlighting the importance of safety in the context of industry transformation [1] - Changan's General Manager Zhao Fei stated that safety is not the greatest luxury but a fundamental requirement for car manufacturers [1] Group 2: Technological Advancements - The "Tianshu Intelligent" system demonstrated advanced capabilities during a 3000-kilometer test drive, showcasing its ability to recognize sudden lane changes, predict vehicle trajectories, and identify construction zones even in low-light conditions [1] - The system is built on a comprehensive protection framework that includes driving assistance, cabin, and chassis technologies, with a data-driven approach that allows for continuous evolution [1] Group 3: Market Impact - The launch of the new Q05 model, equipped with laser radar technology, marks a significant step in making intelligent driving assistance more accessible in the under 100,000 yuan electric SUV market [1][2] - Changan has established a global R&D network and possesses a unique national key laboratory for intelligent automotive safety technology, indicating strong technical capabilities and systemic strength [2]

Core Insights - Changan Q05 has been officially launched at the Guangzhou Auto Show, featuring LiDAR technology and two battery options with ranges of 405 km and 506 km, priced between 79,900 and 109,900 yuan [1] - The vehicle is equipped with a 120 kW electric motor and supports fast charging, allowing for a 100 km range boost in just 5 minutes and charging from 30% to 80% in 15 minutes [1] - Changan aims to release over 50 new energy models by 2030, with a target of achieving over 30% of sales from overseas markets [1] Group 1 - Changan Q05 includes six models with two range options: 405 km and 506 km [1] - The vehicle's battery capacities are 40.29 kWh and 51.91 kWh, with a maximum power output of 120 kW [1] - Changan has reported over 400,000 users for its brand, indicating strong market acceptance [1] Group 2 - Changan's safety philosophy has evolved to encompass a comprehensive "pan-safety" system, addressing driving, health, psychological, and privacy safety [2] - The company aims to provide an ultimate safe intelligent travel solution, emphasizing the importance of safety in user experience [2]

Core Insights - Changan Qiyuan's new Q05 model was officially launched at the Guangzhou Auto Show on November 21, featuring laser radar and two battery options with ranges of 405 km and 506 km, priced between 79,900 yuan and 109,900 yuan [2] Group 1: Product Features - The Q05 is equipped with a driving motor that has a maximum power of 120 kW, paired with battery capacities of 40.29 kWh and 51.91 kWh, achieving ranges of 405 km and 506 km under CLTC conditions [4] - The vehicle supports 3C fast charging, allowing for a range of 100 km with just 5 minutes of charging and reaching 80% charge from 30% in 15 minutes [4] Group 2: Market Position and Strategy - Changan Qiyuan has surpassed 400,000 users, with 2023 being a significant year for the brand, launching three models: Q07, new Q05, and A06 [4] - The company plans to introduce over 50 new energy vehicle models by 2030, with all models featuring the Tian Shu intelligent system and aiming for over 30% of sales to come from overseas markets [4] Group 3: Safety and Innovation - Changan's vehicles, including the Q05, successfully completed a 3,000 km intelligent driving challenge with zero accidents, showcasing advanced safety features [4] - The company is expanding its safety philosophy to encompass a comprehensive "pan-safety" system, addressing driving, health, psychological, and privacy safety [4]

Core Insights - The article emphasizes the importance of intelligent technology in the automotive industry, particularly at the Guangzhou Auto Show, where companies are competing to win user trust through safety and practicality [1][9] - Changan Automobile's intelligent brand "Tianshu Intelligent" shifts the safety paradigm from "passive safety" to "active intelligent safety," expanding the concept of safety to include driving safety, health safety, psychological safety, and privacy safety [1][9] Group 1: Intelligent Driving Solutions - The Tianshu Intelligent Driving Assistance Laser Version utilizes multi-dimensional dynamic safety control technology to instantly recognize risks such as sudden lane changes and adjust speed to avoid collisions [3] - The system employs centimeter-level positioning technology and optimal path planning algorithms to ensure a 98% success rate in navigating complex highway ramps [5] - Tianshu's multi-source sensor fusion technology allows for enhanced perception in low-light conditions, enabling the vehicle to identify obstacles and risks up to 200 meters ahead while driving at high speeds [7] Group 2: Safety Performance Validation - Changan Automobile conducted an extreme long-distance test titled "Tianshu Intelligent 3000 Miles, Full Protection of True Safety," where vehicles equipped with Tianshu technology completed a 3000-mile journey without accidents or scratches, demonstrating the system's reliability in real-world scenarios [9] - The focus on safety is reiterated as the company aims to address both new and old safety risks through intelligent technology, highlighting that the application of such technology is not merely for show but for practical safety solutions [9]