行业研究 证 券 研 究 报 告 汽车行业周报（20260309-20260315） 推荐（维持） 整车情绪已至拐点，AIDC 仍是重点投资方向 华创证券研究所 证券分析师：张程航 电话：021-20572543 邮箱：zhangchenghang@hcyjs.com 执业编号：S0360519070003 证券分析师：李昊岚 邮箱：lihaolan@hcyjs.com 执业编号：S0360524010003 联系人：张睿希 邮箱：zhangruixi@hcyjs.com 证监会审核华创证券投资咨询业务资格批文号：证监许可（2009）1210 号 汽车 2026 年 03 月 15 日 1. 整车：情绪已至拐点，当前建议积极布局，3-4 月销量、盈利、出口皆有望超预期。 继续推荐吉利汽车、比亚迪、江淮汽车、零跑汽车。反弹行情中我们首推吉利，高 端化、出海、低估值优势是其 beat 来源，一季报有望超预期，进而有望带动市场盈 利预测上修。江淮短期基本面和车型节奏较弱，导致股价回调，但好格局、高 ROE、 大空间的中期逻辑不变，当前带来增配机会。 2. 汽零：①机器人：机器人板块近期热度下降，但特斯拉机器人有望 ...

以下文章来源于雷达Finance ，作者X编辑 事件起源于3月5日魏牌官宣魏建军担任魏牌V9X代言人的海报，被网友和原创设计师指出与路 虎揽胜运动版的宣传海报高度相似，涉嫌抄袭。 遨游广袤的财富世界。 雷达Finance . 一夜之间，魏建军从代言人变"道歉人"。 来源：雷达财经 文：彭程 编：孟帅 "那张海报的确是抄袭的，不能有任何的辩解"，3月6日，长城汽车董事长魏建军在其社交账号 上发布一段视频，承认魏牌V9X的宣传海报存在抄袭行为，并对此进行道歉。 魏建军在视频中表示，他和长城汽车愿意承担全部法律和经济责任，并将责任归咎于自身审核 把关不严。 抄袭风波之外，长城汽车在2026年开年还遭遇销量下滑的挑战。不久前刚刚发布的2月产销快 报显示，长城汽车2月的单月销量为72594辆，同比下降6.79%，环比更是下滑近两成，给新 年开局蒙上阴影。 而1月底公布的2025年业绩快报显示，长城汽车的年度营收首次突破2200亿大关，达到 2227.9亿元，同比增长10.19%，但归母净利润却大幅下滑21.71%至99.12亿元，陷入"增收 不增利"的业绩困境。 天眼查显示，长城汽车的实际控制人为魏建军。而在最新出炉的 ...

魏建军资料 图。 再看魏牌抄袭 路虎揽运 及 魏建军 道歉 一个老牌知名汽车厂商、创始人以坚持原创作为口号，却发生了宣传海报几乎 1:1 抄袭友商的 情况，颇令人匪夷所思，也令人追问，如果不被原创意人士发现、媒体曝光，是不是就不被发 现？ 从公开看到的一些报道看，海报抄袭被揭发后，魏建军和魏牌 CEO 赵永坡的道歉也为他们赢得 尊重和赞叹， 3 月 9 日晚间 18 时，魏建军如约开启了全平台 V9X 直播 。 但令人好奇的是为什么长城魏牌敢如此明目张胆地抄袭友商广告作 品 ？ 尽管魏建军说是因为 自己本人的问题，但是，作为一号位对海报这种事情必然是不会 穷尽知道主要对手产品的。那 么接下来的问题就是，问题究竟出现在什么地方？ 我们与行业从业者，以及原路虎揽运广告创意策划 Kori进行了交流 ，试图接近一些真相，毕竟 有些事情跟输赢无关。 01. 魏牌宣传物料抄袭并非初犯 长城汽车魏牌新车的海报抄袭事件，魏建军的道歉体现出了担当，来得及时且真诚。但是相关 的系列操作，也透露出一些营销味道。 3 月 5 日 魏建军代言海报上线发布，14 时 30 分被原作创意发现， 指 出魏牌抄袭，事件开始发 酵，有媒体说 3 ...

Core Viewpoint - The chairman of Great Wall Motors, Wei Jianjun, expressed skepticism about the practicality of hidden door handles, labeling them as a "pseudo-technology" due to their reliance on electronic control, which can lead to accessibility issues in case of failure [1] Group 1 - The discussion regarding the use of hidden door handles lasted for seven months during the project initiation of the Wei brand V9X [1] - While hidden door handles can reduce the drag coefficient, the impact is minimal, only a reduction of one thousandth [1] - Great Wall Motors is committed to using mechanical door handles, with the option for electric ones, aligning with national policies that require electric door handles to have a mechanical switch as a backup [1]

Group 1 - OpenClaw has gained significant popularity in China, with nearly a thousand developers and AI enthusiasts participating in its cloud installation at Tencent's headquarters, indicating a new level of adoption in the market [3] - The film "Flying Life 3" has surpassed 4 billion yuan in box office revenue, positioning it among the top 10 in Chinese film history [3] Group 2 - Sushi restaurant Sushi Lang is addressing consumer reports of finding parasitic eggs in tuna, emphasizing its commitment to food safety and compliance with national standards [8] - Longhua Automobile's chairman Wei Jianjun apologized for a design controversy involving a promotional poster, pledging to take full legal and financial responsibility [8][9] Group 3 - Xiaomi's CEO Lei Jun predicts that in the AI era, work hours may reduce significantly, suggesting a future where individuals might only need to work three days a week for two hours each day, enhancing overall quality of life [10] - 360 Group's founder Zhou Hongyi believes that the rapid development of AI will create new job opportunities, particularly for liberal arts graduates who can address ethical and societal issues arising from technological advancements [10] Group 4 - Google has proposed a new compensation package for CEO Sundar Pichai, potentially worth $692 million over three years, making him one of the highest-paid CEOs globally [10] - Meituan and Lenovo have launched OpenClaw remote deployment services, reflecting a significant increase in related search volume by over 300% [10] Group 5 - DJI has made progress in addressing security vulnerabilities in its robotic vacuum, rewarding a researcher with $30,000 for discovering a significant issue affecting around 7,000 devices [12] - NetEase is reportedly halting funding for the studio led by Naoki Yoshida, with employees informed of this decision [12] Group 6 - Huang Renxun, CEO of NVIDIA, predicts that all software will become "agentic," transitioning from traditional licensing models to a system where companies rent out intelligent agents to perform tasks [12] - Tesla is set to build its largest supercharging station to date in California, featuring over 400 V4 charging stations, significantly expanding its charging infrastructure [13] Group 7 - The Ministry of Culture and Tourism of China forecasts that inbound tourist numbers will exceed 150 million by 2025, with a projected growth rate of over 17% [21] - A national representative has suggested measures to combat fraudulent online shopping practices targeting the elderly, highlighting the need for improved consumer protection in the aging population [21]

Core Viewpoint - The incident involving Great Wall Motors' chairman Wei Jianjun's apology for plagiarism in a promotional poster for the new V9X vehicle has sparked significant public interest and discussion, highlighting the importance of originality in branding and marketing within the automotive industry [2][4]. Group 1: Incident Overview - On March 5, Great Wall Motors announced Wei Jianjun as the spokesperson for the new V9X vehicle [4]. - Following the announcement, it was pointed out by industry creators that the promotional poster closely resembled a design they created for the Range Rover Sport a year prior, leading to accusations of plagiarism [4]. - Wei Jianjun publicly acknowledged the plagiarism on March 6, apologizing to the Range Rover brand, the original designer, and the public, and accepted full legal and financial responsibility for the incident [2][3]. Group 2: Company Response and Future Actions - In his statement, Wei Jianjun emphasized that the primary responsibility for the incident lies with him due to inadequate oversight as the spokesperson [2]. - Great Wall Motors plans to reflect deeply on this incident and improve its internal management and review processes to prevent future occurrences of plagiarism [2]. - The company reiterated its commitment to originality and welcomed public scrutiny to ensure adherence to these values [2].

Group 1 - The core viewpoint of the article highlights the ongoing developments in the automotive industry, particularly focusing on the responses and innovations from major players like Land Rover, BYD, and BMW [2] Group 2 - Land Rover's Range Rover responded to Great Wall Motors' chairman Wei Jianjun's apology regarding the alleged plagiarism of a promotional poster, emphasizing the importance of originality and wishing Great Wall Motors success [2] - BYD launched the 2026 model of its Haiyan 06EV SUV, priced between 159,900 to 179,900 yuan, featuring new fast-charging technology and multiple purchase incentives for customers [2] - BMW introduced its first model under the Alpina brand, the 2026 Alpina XB7 Manufaktur, with a limited production of 120 units, following Alpina's full integration into BMW [2] - The secretary-general of the Passenger Car Association, Cui Dongshu, noted that the Chinese automotive market in 2026 is expected to see a total passenger vehicle sales of 29.64 million units, remaining stable compared to 2025, while new energy vehicle sales are projected to grow by 10% to 16.83 million units, indicating a shift towards new energy vehicles becoming the dominant market force [2]

Core Viewpoint - The chairman of Great Wall Motors, Wei Jianjun, publicly apologized for the alleged plagiarism of the promotional poster for the Wei brand V9X, acknowledging the incident and accepting full legal and financial responsibility [1] Group 1: Incident Overview - On March 5, the Wei brand announced Wei Jianjun as the spokesperson for the V9X model and released a promotional poster that was later criticized for being highly similar to past promotional materials of the Land Rover Range Rover Sport, indicating potential creative plagiarism [1] - Wei Jianjun confirmed the plagiarism after internal verification and admitted that the core responsibility lies with him for not adequately overseeing the approval process as the spokesperson [1] Group 2: Response and Future Actions - In the apology video, Wei Jianjun stated that Great Wall Motors will reflect deeply on the management process flaws and will comprehensively optimize the content creation and review mechanisms to prevent future plagiarism [1] - The company reiterated its commitment to original design and compliant creation, accepting ongoing public and industry supervision [1] - As of the report's publication, the Wei brand has removed the controversial promotional materials [1] Group 3: Industry Impact - Automotive analyst Ling Ran commented that Wei Jianjun's acknowledgment of the mistake and willingness to take responsibility reflects a commendable attitude, emphasizing the need for the team to address the issue to avoid damaging the brand's reputation [1]

Group 1 - The chairman of Great Wall Motors, Wei Jianjun, publicly apologized for the alleged plagiarism of the promotional poster for the new flagship model V9X, acknowledging that the poster indeed copied from a Land Rover advertisement and that the company will bear all legal and financial responsibilities [1][2] - Wei Jianjun emphasized that the main responsibility lies with him as the spokesperson for not adequately reviewing the promotional material, and he expressed regret to the Land Rover brand, the original creator of the poster, and the public [2] - Great Wall Motors plans to reflect deeply on this incident and improve its internal management and review processes to prevent future occurrences of plagiarism, reaffirming its commitment to originality and accepting public supervision [2] Group 2 - Land Rover responded to the incident by stating that sincerity and accountability are the best endorsements, which are also the most valued qualities of the Land Rover brand, wishing Great Wall Motors continued success [1]

Group 1 - The chairman of Great Wall Motors, Wei Jianjun, publicly apologized for the plagiarism incident regarding the Wei brand V9X spokesperson poster, acknowledging the responsibility for insufficient oversight and welcoming public supervision [2] - Wei brand CEO Zhao Yongpo also issued an apology, admitting that the poster released on March 5 bore a high resemblance to a design from the Land Rover brand, describing it as a serious oversight without any excuses [4] - In recent years, it has been rare for executives in the automotive industry to apologize for their mistakes, with many opting for legal actions instead [5] Group 2 - The Wei brand V9X is the first model built on Great Wall Motors' new "Guiyuan S" platform, which is the world's first native AI all-powertrain automotive platform, designed to meet diverse user needs through standardized hardware interfaces and AI integration [5] - The V9X has dimensions of 5299mm in length, 2025mm in width, and 1825mm in height, with a wheelbase of 3150mm, featuring a "2+2+2" six-seat layout suitable for both family travel and high-end business scenarios [5] - The V9X is expected to officially launch in the second quarter of 2026, directly competing with high-end models such as the AITO M9 and Li Auto L9 [5]