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 ...

以下文章来源于东四十条资本 ，作者鲁智高 东四十条资本 . 聚焦股权投资行业人物、事件、数据、研究、政策解读，提供专业视角和深度洞见 | 创投圈有趣的灵魂 将投中网设为"星标⭐"，第一时间收获最新推送 汽车行业新的竞争正在加速上演。 时间回到 2017 年，长安汽车与蔚来汽车合作，准备成立以新能源汽车研发、销售和服务为主的合 资公司。次年 7 月，阿维塔科技的前身长安蔚来由此成立。 不过此后数年，这家公司一直没有实质进展。直到 2020 年，长安汽车和宁德时代、华为正式宣布 联合打造一个高端智能新能源乘用车平台。于是，长安蔚来在 2021 年 5 月正式更名为阿维塔科 技。 从那时起，总部位于重庆的阿维塔科技，立志将"阿维塔"打造成全球新豪华智能电动汽车领导品 牌。 2022 年 8 月，他们推出首款量产车型阿维塔 11 以及阿维塔 011 ，并于 4 个月后正式交 付。 作者丨 鲁智高 来源丨 东四十条资本 又一家车企冲向港股。 背靠长安汽车和宁德时代、华为，阿维塔科技通过卖新能源汽车等，半年收入就达到 122 亿元。不 久前，这家高端新能源车企在港交所递交了招股书。 这已经是最近三个月左右第 4 家奔赴港 ...

12月24日晚，阿维塔在其官方微博发文表示，旗下车型阿维塔12"将在南极度过16个月的时间，经历极 地不同季节及环境变化的车辆测试及技术验证"，从而对早前相关话题引发的争议作出澄清。 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 就在12月初，阿维塔曾官宣阿维塔12抵达南极中山站，称其为"全球首辆登陆南极的新能源轿车"， 将"直面-50℃极寒" 开展科考测试。 但有网友指出，南极地区存在显著的季节温差，每年12月至次年2月为南半球夏季。此时南极中山站的 实测气温约在- 1℃至5℃之间，部分时段最高温可达9.6℃，这一温度甚至高于同期我国北京、东北等北 方城市的气温，与阿维塔所说的"-50℃极寒" 表述不符。还有声音认为，国内漠河、海拉尔等地区目前 更适合做极寒测试，质疑其是在"蹭热度"。 阿维塔相关负责人员近日对媒体表示，"由于科考任务安排，抵达时间正值南极夏季，但车辆并不会短 期返回。"阿维塔12将跟随中国极地科考队在南极驻留至2027年4月，开启16个月以上的适应性测试，期 间将经历极地不同季节及环境变化。 阿维塔方面称，理解公众对信息透明度的关注，此前对外宣传中未完整说明测试 ...

智通财经记者 | 宋佳楠 12月24日晚，阿维塔在其官方微博发文表示，旗下车型阿维塔12"将在南极度过16个月的时间，经历极地不同季节及环境变化的车辆测试及技术验证"，从而 对早前相关话题引发的争议作出澄清。 图片来源：阿维塔官方微博 图片来源：阿维塔官方微博 阿维塔相关负责人员近日对媒体表示，"由于科考任务安排，抵达时间正值南极夏季，但车辆并不会短期返回。"阿维塔12将跟随中国极地科考队在南极驻留 至2027年4月，开启16个月以上的适应性测试，期间将经历极地不同季节及环境变化。 阿维塔方面称，理解公众对信息透明度的关注，此前对外宣传中未完整说明测试时长安排，"可能导致了一些误解"。 公开信息显示，阿维塔成立于2018年，是由长安汽车、宁德时代、华为三方共建的新能源汽车品牌，长安汽车持股40.99%，为第一大股东，宁德时代是第 二大股东。宁德时代与华为分别为其提供电池技术与智能解决方案支撑，产品覆盖20万至70万元价格区间。 市场表现方面，2025年1-11月，其累计销量达11.8万辆，11月单月销量14057辆创历史新高，连续9个月销量破万，但距年初22万辆目标仍有差距，其中阿维 塔06、07两款中端车型 ...

中新网北京12月24日电 汽车的耐腐蚀性能如何，如今已成为消费者选购汽车时的重要参考指标。中国 消费品质量安全促进会24日披露，近4年的CA-CAP测评结果显示，耐腐蚀性能正成为全行业必须达标 的品质基线。 "CA-CAP"全称为中国汽车耐腐蚀与老化性能测试评价规程，是在中国消费品质量安全促进会指导下开 展的国内首个防腐蚀与老化测评项目。 据悉，该项测评并非简单的试验室盐雾测试，而是一套在海南独特"高温、高湿、高盐、多雨"极端环境 中进行的、模拟用户真实使用场景的系统性强化腐蚀试验，其试验工况包含碎石击打、盐水侵蚀、紧急 驻坡、石板颠簸、波形起伏等多种极端场景。其以60个循环模拟6年使用，最终将结果量化为直观的综 合评价分值，并对腐蚀外观、使用功能和漆膜划痕进行多维度评价。 2025年，CA-CAP工作组按照计划，抽取了阿维塔06、欧拉好猫、东风日产逍客、小鹏MONA M03、红 旗天工06、赛力斯问界M8一共六款市场热门车型开展耐腐蚀测评，目前已完成全部车型的测试评价和 结果审查工作。在经历严苛的强化腐蚀试验后，2025年6款车型测试结果整体表现优异：参评车辆中， 有五款自主品牌车型获得了5星级评价，其中最 ...

Core Viewpoint - The Chinese electric vehicle (EV) industry is facing challenges as market saturation approaches and profitability pressures increase, particularly for new entrants. Avita Technology's IPO represents a strategic move to navigate these challenges and serves as a case study for high-end smart EV survival logic in China [1][18]. Group 1: Industry Context - By 2025, the penetration rate of China's new energy vehicles is expected to approach 60%, leading to a saturated incremental market and increased competition [1]. - UBS predicts a potential 2% year-on-year decline in domestic passenger car sales in 2026, highlighting the industry's transition from "wild growth" to "refined cultivation" [1][2]. Group 2: Avita's Competitive Advantages - Avita's unique advantage lies in its "central enterprise background + industrial giant" collaborative ecosystem, which includes partnerships with Changan Automobile, Huawei, and CATL [2]. - The company has secured over 19 billion yuan in financing and has achieved a gross margin of 10.1% as of mid-2025, indicating strong financial performance [1][4]. Group 3: Business Model and Financial Performance - Avita adopts a light-asset model, focusing on product definition and brand building while outsourcing manufacturing and energy solutions to partners, enhancing operational efficiency [5][6]. - The company reported a revenue of 151.95 billion yuan in 2024, a 169% increase year-on-year, and 122.08 billion yuan in the first half of 2025, a 98.5% increase [6][9]. Group 4: Product Strategy and Market Response - Avita has developed a clear product matrix covering price ranges from 200,000 to 700,000 yuan, ensuring a solid sales foundation while exploring brand elevation [7][9]. - The company achieved a record sales figure of 14,057 vehicles in November 2025, with total sales surpassing 220,000 units [9]. Group 5: Global Expansion Strategy - Avita has initiated an aggressive global expansion strategy, entering 38 countries and regions since September 2024, with a goal of achieving 10% overseas sales by 2026 [10][13]. - The company plans to implement local assembly and production to reduce costs and improve market responsiveness in the long term [13]. Group 6: Capital Market and IPO Insights - Avita's IPO is not merely a financial necessity but aligns with its strategic goals, aiming to enhance corporate governance and attract talent [14][15]. - The capital market's valuation logic is shifting towards ecological rarity, technological control, and profitability certainty, areas where Avita excels [14]. Group 7: Strategic Partnerships and Ecosystem Development - Avita is expanding its ecosystem through partnerships, including a comprehensive collaboration with JD Retail to enhance marketing, after-sales service, and supply chain optimization [17]. - The company is actively building an open collaborative ecosystem to create a competitive advantage in a saturated market [17][18].

2025年，中国新能源汽车行业在渗透率逼近60%后，增量市场趋于饱和，同时2026年购置税退坡 与暂时不确定的补贴优化政策，则进一步加剧了企业盈利压力，尤其是新势力品牌，如今正面临着竞 争加剧与增速放缓的双重挑战。瑞银今年12月初预测2026年国内乘用车销量或将出现2%的同比负 增长。在行业洗牌加速、价格战向价值战转型的关键节点，2025年11月27日，阿维塔科技正式向港 交所递交IPO申请，成为首家冲刺港股IPO的央企系新能源车企。 这份 600余页的招股书，不仅亮出了四轮融资超190亿元、连续9个月销量破万、毛利率升至10.1% 的亮眼成绩单，更揭示了其背靠长安汽车、华为、宁德时代"铁三角"生态，以轻资产模式突围的独 特路径。阿维塔的IPO之举既是自身规模化发展的必然选择，更成为观察中国高端智能电动车赛道生 存逻辑的重要样本。 央企 +巨头背书，构筑稀缺生态壁垒 在行业从 "野蛮生长"转向"精耕细作"的新阶段，资源整合能力成为穿越周期的关键。阿维塔的核心 优势，在于其难以复制的"央企背景+产业巨头"协同生态。 作为中国长安汽车集团高端化战略载体，阿维塔继承了长安在智能制造、供应链、研发测试及渠道布 局上的 ...

Group 1: Industry Trends - 2025 marks a pivotal year for the global technology industry, transitioning from "smart connectivity" to "intelligent autonomy" [1] - Hardware products are entering a new era of "edge AI explosion," driven by advancements in AI technology, the proliferation of 5G-A, and sustainable development [1] - The transformation of smart hardware is shifting from "single hardware parameters" to a "full-scenario intelligent ecosystem" [1] Group 2: Consumer Electronics and Innovations - Seamless integration between different types of devices is becoming more common, enhancing user experience across smartphones, computers, and tablets [1] - The rise of smart home appliances, automotive technology, and drones is significantly transforming lifestyles and industrial models [1] - The automotive sector is redefining its role, moving beyond being just a transportation tool to becoming part of a broader economic opportunity in low-altitude airspace [1] Group 3: 2025 EDGE Awards - The 2025 EDGE Awards will recognize outstanding technological products that have made significant contributions in functionality, design, user experience, and market performance [3] - Award-winning products are expected to address industry pain points, optimize user experiences, and explore new scenarios, setting market benchmarks and driving innovation [3] - The awards will highlight the most innovative products of the year, showcasing the profound impact of technological innovation on human life [3]

Core Viewpoint - Avita, a high-end electric vehicle brand backed by Changan Automobile, Huawei, and CATL, is facing significant challenges with over 11 billion yuan in cumulative losses and underwhelming sales performance, prompting its urgent IPO application despite public skepticism about its financial health and market strategy [1][17]. Financial Performance - Avita's net losses from 2022 to the first half of 2025 are reported as 2.016 billion yuan, 3.693 billion yuan, 4.018 billion yuan, and 1.585 billion yuan, totaling 11.312 billion yuan over four years [1][3]. - In contrast, Lantu, a competitor, reported losses of 1.538 billion yuan, 1.496 billion yuan, and 90 million yuan for the same period, showing a significant reduction in losses and even achieving a profit of 434 million yuan in the first seven months of 2023 [1][3]. Sales Performance - Avita's sales heavily rely on lower-priced models, particularly the Avita 07, which has a starting price of 210,000 yuan, contributing to nearly 80% of total sales [4][6]. - In the first 11 months of 2025, Avita delivered over 118,000 vehicles, achieving only 53.64% of its annual sales target of 220,000 units [6][7]. Market Positioning and Brand Strategy - Despite its strong backing, Avita struggles with a lack of clear brand positioning, having shifted from a high-end focus to relying on mid-to-low-end models, which contradicts its initial market strategy [7][12]. - The brand has faced criticism for its marketing efforts, including a failed collaboration with a popular influencer that did not resonate with its intended high-end image [8][10]. Management and Strategic Direction - Avita has experienced significant management instability, with three changes in leadership within four years, leading to inconsistent strategic direction and execution challenges [11][12][15]. - The latest leadership change in September 2023 has resulted in a focus on consolidating marketing efforts, but internal conflicts and lack of cohesive decision-making remain problematic [13][15]. Competitive Landscape - Avita has fallen behind competitors like Lantu and Deep Blue, with the latter achieving profitability and gaining market traction, highlighting Avita's missed opportunities during a critical growth period in the electric vehicle sector [16][17].

Core Viewpoint - Avita, backed by Changan Automobile, CATL, and Huawei, is preparing for a Hong Kong IPO but currently struggles with sales and brand recognition compared to leading competitors [1][2]. Group 1: Company Background - Avita is a luxury electric vehicle brand created through collaboration between Changan Automobile, CATL, and Huawei, leveraging each partner's strengths [2]. - Changan Automobile, a major shareholder, provides support in smart manufacturing, supply chain, R&D, and distribution [2]. - CATL, the world's largest battery manufacturer, plays a crucial role in supporting Avita's technology and marketing efforts [2]. - Huawei, while not a direct shareholder, offers advanced smart automotive solutions through its HI model [2]. Group 2: Operational Model and Workforce - Avita employs a light asset operation model, giving it a competitive edge in the market [4]. - As of June 2023, Avita has 3,666 employees, with over 57.1% in technical and R&D roles, and has filed 1,326 patents since its inception [4]. Group 3: Product Line and Sales Performance - Avita launched its first mass-produced model, Avita 11, in August 2022, with plans to release additional models (Avita 12, 07, and 06) between November 2023 and April 2025 [4][5]. - The current sales target for 2023 is 220,000 units, but as of October, only 104,200 units have been sold, achieving 47.4% of the goal [10]. - The main sales model is Avita 07, while other models like Avita 11 and 12 have seen declining monthly sales [10]. Group 4: Financial Performance - Revenue projections show significant growth from 0.28 billion RMB in 2022 to an estimated 151.95 billion RMB in 2024, despite ongoing losses [12]. - The company reported a cumulative loss of approximately 11.3 billion RMB over the reporting period, with expectations of continued losses in 2025 [12]. Group 5: Strategic Partnerships and Future Goals - Avita has deepened its partnership with Huawei, investing 11.5 billion RMB for a 10% stake in Huawei's subsidiary, enhancing their collaboration [12][13]. - Future plans include launching 17 new models by 2030, with ambitious sales targets of 400,000 units by 2027 and 800,000 units by 2030 [15].