作为赛力斯与华为联合打造的科技旗舰，问界M9全系累计交付突破26万辆，创50万元级车型交付新纪录；问界M8累计交付突破13万辆，蝉联40万级销 量冠军；全新问界M7，短短41天大定订单便突破9万台，全系累计交付已突破35万辆。 11月21日，问界全系产品及赛力斯最新技术成果：魔方技术平台2.0亮相广州车展，该平台以全景智慧为引领，以智能安全为底座，对智慧能源、智能 底盘、EEA架构和智慧空间进行了全新升级，是一个面向AI驱动的智慧电动汽车平台。 本届车展，问界创下其参展史上的规模与阵容之最。问界M9、问界M8、全新问界M7及问界新M5均同台展出。 车展现场还展示了多项最新的技术成果，包括在国内车展首次亮相的2.0T增程器和14合一超大集成增程系统，在集成化、NVH控制和能效表现上再攀 高峰，全面彰显赛力斯在增程技术领域的领先地位。 截至目前，问界已得到90万用户的信任，智能增程电动行驶总里程超214亿公里，纯电行驶里程占比达70%，辅助驾驶总里程已超过44.5亿公里，辅助 泊车激活次数达到2.8亿次。 在服务层面，问界构建了覆盖售前、交付与售后的智慧服务体系，累计完成主动服务关怀26.6万次，通过远程诊断为用 ...

11月21日，问界全系产品及赛力斯（601127）最新技术成果亮相广州车展。赛力斯魔方技术平台2.0重 磅发布，该平台以全景智慧为引领，以智能安全为底座，对智慧能源、智能底盘、EEA架构和智慧空间 进行了全新升级，是面向AI驱动的智慧电动汽车平台。 智慧重塑豪华 问界全系车型亮相 本届车展，问界创下其参展史上的规模与阵容之最。问界M9、问界M8、全新问界M7及问界新M5同台 展出，全系交付已超90万，吸引大量媒体、观众驻足品鉴，成为车展焦点。 作为赛力斯与华为联合打造的科技旗舰，问界M9全系累计交付突破26万辆，创50万元级车型交付新纪 录；问界M8累计交付突破13万辆，蝉联40万级销量冠军；全新问界M7，短短41天大定订单便突破9万 台，全系累计交付已突破35万辆，成为现象级"爆款"车型。 魔方技术平台2.0发布 定义未来智能出行新高度 车展现场，赛力斯魔方技术平台2.0正式发布。该平台以全景智慧为引领，以智能安全为底座，对智慧 能源、智能底盘、EEA架构和智慧空间进行了全新升级。 截至目前，问界已得到90万用户的信任，智能增程电动行驶总里程超214亿公里，纯电行驶里程占比达 70%，辅助驾驶总里程已超过4 ...

Core Insights - The retail volume of narrow passenger cars in August is estimated at approximately 1.94 million units, representing a month-on-month increase of 6.2% and a year-on-year increase of 2.0%, with new energy vehicle (NEV) retail expected to reach around 1.1 million units, achieving a penetration rate of 56.7% [1][2] Passenger Vehicles - From August 1 to 24, retail sales of passenger vehicles reached 1.285 million units, showing a year-on-year growth of 3% and a month-on-month growth of 3%; cumulative retail sales for the year stand at 14.031 million units, up 10% year-on-year [3] - Related stocks include BYD (002594), Geely Automobile (0175.HK), Xpeng Motors (9868.HK), Li Auto (2015.HK), Changan Automobile (000625), and Leap Motor (9863.HK) [3] New Energy Vehicles - During the same period, NEV retail sales were 727,000 units, reflecting a year-on-year increase of 6% and a month-on-month increase of 7%, with a penetration rate of 53.0%; cumulative retail sales for the year are 7.182 million units, up 27% year-on-year [3] - Related stocks include BYD (002594), Geely Automobile (0175.HK), Xinquan Co., Ltd. (603179), Xingyu Co., Ltd. (601799), Doli Technology (001311), Chuanhuan Technology (300547), and Wuxi Zhenhua (605319) [3] Smart Vehicles - On August 25, the launch event for new smart vehicles was held, introducing new models such as the Zhijie R7, Zhijie new S7, and the AITO M8 electric version; the new M5 was also unveiled [4] - The Smart Car Conference 2025 took place on August 28, focusing on new business opportunities, technological breakthroughs, and ecosystem development in the smart vehicle industry [4] - Related stocks include Seres (601127), Xpeng Motors (9868.HK), and Li Auto (2015.HK) [4] Heavy Trucks - In July, the actual sales of new energy heavy trucks reached 16,600 units, marking a year-on-year increase of 151.6%; from January to July, cumulative sales reached 95,900 units, up 179.3% year-on-year [5] - Related stocks include Weichai Power (2338.HK/000338), China National Heavy Duty Truck Group (000951/3808.HK), and Foton Motor (600166) [5] Robotics - NVIDIA launched the new Jetson Thor robotics computing platform, enabling real-time processing of high-speed sensor data and executing visual reasoning while running multiple generative AI models, enhancing the capabilities of robots for intelligent interaction with humans and the physical world [6] - Related stocks include Top Group (601689), Sanhua Intelligent Control (002050), Aikodi (600933), Zhongding Sealing Parts (000887), Jingzhan Technology (300258), Fuda Co., Ltd. (603166), Junsheng Electronics (600699), Haoneng Co., Ltd. (603809), and New Coordinates (603040) [6]

Group 1 - The Chengdu International Auto Show, which opened on August 29, is the first major auto exhibition in the second half of the year, injecting new momentum into the autumn car market sales season [1] - Huawei's automotive sector is gaining attention, with multiple new models launched, including the flagship model Zun Jie S800 and several others from the Hongmeng Zhixing brand [1] - A total of 28 models equipped with Huawei's technology or components have been launched in the market, covering various brands and vehicle types, with prices ranging from 150,000 to over 1 million yuan [1] Group 2 - Company Silyus has established a partnership with Huawei, creating a new benchmark in the high-end smart electric vehicle market, with key products including the Wanjie M9, Wanjie New M7, and Wanjie New M5 [2] - Yihua Co. has collaborated with Huawei's automotive business unit in areas such as 5G T-Box, new energy BMS, OBU, and ADAS [2] - Junsheng Electronics, a leader in smart cockpits and safety systems, provides domain controllers for Hongmeng Zhixing [3]

Core Insights - The core focus of the event was the launch of multiple new electric vehicles under the Hongmeng Zhixing brand, highlighting the company's commitment to smart mobility and technology integration [1][4][28] Group 1: Product Launch and Features - A total of seven new models were unveiled, including the Zhijie R7, Zhijie S7, and the pure electric version of the Wanjie M8, with pre-sales for the Xiangjie S9T and Shangjie H5 starting [1][3][19] - The price range for the new models spans from 169,800 to 449,800 yuan, with the Zhijie R7 priced between 249,800 and 309,800 yuan, and the Zhijie S7 priced between 229,800 and 289,800 yuan [8][25] - The new vehicles are equipped with advanced features such as the HUAWEI ADS 4 intelligent driving assistance system, which is now standard across the entire Hongmeng Zhixing product line [6][16] Group 2: Market Position and Strategy - The total delivery of Hongmeng Zhixing vehicles has reached 900,000 units, nearing the one million mark, which positions the brand favorably against competitors like Li Auto, NIO, and Xpeng [6][19] - The strategic partnership with Chery, where Chery's chairman announced that Zhijie will be fully led by Huawei, indicates a significant shift in brand positioning and resource allocation towards the Zhijie brand [11][13] - The order volume for the new Zhijie models has surpassed 52,000 units since the pre-sale began, indicating strong market interest and potential for recovery in sales [19][28] Group 3: Competitive Landscape and Challenges - The automotive industry is increasingly competitive, with a focus on smart technology and software capabilities, which poses challenges for Hongmeng Zhixing as other manufacturers catch up in the intelligent driving domain [28][30] - The pricing strategy for the new Wanjie M8 places it above competitors in the home SUV market, raising questions about its brand premium and market acceptance [34][36] - The upcoming launch of the Shangjie H5, priced below 200,000 yuan, will directly compete with other brands utilizing Huawei's "HI+" model, necessitating a clear differentiation strategy for Hongmeng Zhixing [38][40]

Core Insights - The article highlights the "User-Defined Luxury" initiative by the company, emphasizing user engagement in product development and service enhancement [2][3] - The company aims to redefine luxury in the automotive sector through technological innovation and user feedback, focusing on safety and comfort as primary values [5][11] User Engagement - The company has been actively engaging with users through events like "Talking New Luxury with Users," where feedback on driving assistance and services is collected [1][3] - Users expressed pride in their ownership experiences, citing the professional sales approach and superior driving qualities of the vehicles [7][9] Safety and Technology - The chairman emphasized that user safety is the core of the company's philosophy, stating that safety precedes comfort and luxury [5] - The company has developed an intelligent safety system that includes four key areas: life protection, vehicle protection, health care, and privacy protection, ensuring comprehensive safety for users [11] Product Performance - The company has launched four series of vehicles, including the new M5, M7, M8, and M9, achieving a record delivery of 700,000 units in 40 months, setting a benchmark for new luxury electric vehicles in China [11] - Users reported significant cost savings with the vehicles, highlighting low energy consumption and the elimination of the need for a driver due to advanced driving assistance features [9][11] Brand Recognition - The company has been recognized for its commitment to user service, ranking first in the development confidence index according to a recent study, indicating a strong brand reputation [13] - The ongoing "Talking New Luxury with Users" events are part of the company's strategy to maintain deep connections with users while continuing to innovate in smart electric vehicles [13]

Core Viewpoint - The automotive industry is shifting its narrative from "intelligent driving" to "assisted driving," emphasizing safety and realistic capabilities over exaggerated claims [1][4][22]. Group 1: Industry Trends - During the recent Shanghai International Auto Show, companies like Deep Blue Automotive and BYD have downplayed their previous "high-level intelligent driving" claims, opting for terms like "assisted driving" instead [1][4]. - Key terms such as "safety redundancy," "scene optimization," and "standardized promotion" have emerged as focal points in consumer discussions, indicating a shift towards verifying actual reliability rather than just flashy features [2][4]. Group 2: Regulatory Developments - The Ministry of Industry and Information Technology of China has emphasized the need for automotive manufacturers to adhere to strict guidelines regarding the promotion and testing of intelligent driving systems, aiming to eliminate misleading advertising [4][22]. - New regulations in cities like Beijing and Wuhan have been introduced to clarify responsibilities in the event of accidents involving L3-level autonomous vehicles, which is expected to increase consumer confidence in using such technologies [18][20]. Group 3: Consumer Awareness and Education - There is a growing concern that consumers are not adequately educated about the limitations and proper use of intelligent driving systems, leading to dangerous misconceptions [7][9]. - Many consumers report that sales representatives do not provide sufficient information about the operational boundaries and safety measures of intelligent driving features, which can create a false sense of security [7][9]. Group 4: Investment and Market Dynamics - The investment enthusiasm for intelligent driving technologies peaked in 2021 but has since declined as stakeholders recognize the complexities involved in transitioning from "intelligent driving" to "fully autonomous driving" [11][12]. - Companies like Xpeng and Huawei are actively pursuing L3-level intelligent driving solutions, with plans for commercial rollout in the coming years, indicating a strategic pivot towards more achievable goals in the market [18][22]. Group 5: Technical Challenges - The industry faces significant technical hurdles in achieving true autonomous driving, with current systems still far from being able to replace human drivers effectively [16][17]. - The limitations of existing algorithms and the need for extensive testing and validation highlight the gap between current capabilities and consumer expectations [14][16]. Group 6: Future Outlook - The shift towards a more regulated and safety-focused approach in the intelligent driving sector is seen as a necessary evolution for sustainable growth [23]. - As the industry moves away from "function over safety," there is potential for a more mature market that balances technological advancement with consumer education and regulatory compliance [23].

Core Insights - The company, Seres, reported a significant increase in revenue and net profit for 2024, achieving a revenue of 145.176 billion yuan, a year-on-year growth of 305.04%, and a net profit of 5.946 billion yuan, marking it as the fourth profitable electric vehicle manufacturer globally [2] - Seres' brand, AITO, has established itself in the high-end automotive market, breaking the monopoly of foreign brands, and has become a leading player in the new luxury vehicle segment [2][4] - The company has been included in major indices such as CSI 300, indicating strong market recognition and investor interest [2][8] Financial Performance - In 2024, Seres achieved a gross margin of 26.21% for its electric vehicles, an increase of 16.29 percentage points from the previous year, significantly outperforming the industry average [4] - The company plans to distribute a cash dividend of 0.97 yuan per share, totaling 2.084 billion yuan, which represents 35.05% of the net profit attributable to ordinary shareholders [8] Product and Market Development - Seres sold 426,900 electric vehicles in 2024, a year-on-year increase of 182.84%, with the AITO M9 model leading the luxury SUV segment in China [3] - The AITO brand achieved an 82% Net Promoter Score (NPS), ranking first in the electric vehicle reputation rankings, reflecting strong customer satisfaction [4] Technological Innovation - The company invested 7.053 billion yuan in R&D in 2024, a 58.9% increase from the previous year, and expanded its R&D workforce by 25.15% to 6,201 employees [5] - Seres launched the "Magic Cube" technology platform, integrating various advanced features and enhancing product safety and performance [5][6] Strategic Partnerships and Future Outlook - Seres has acquired intellectual property related to the AITO brand and formed partnerships with Huawei for smart technology development, positioning itself for future growth [9] - The company is set to launch new models in 2025, including the AITO M5 Ultra and M8, aiming to capture further market share in the high-end segment [9]