锚定高端，走难而正确的道路。 编辑｜左茂轩 几年前，中国高端豪华车市场由外资品牌牢牢掌控，奔驰立标、宝马双肾格栅、保时捷蛙眼大灯，曾经一度是豪华车不可撼动的图腾符号。 然而，如今，何谓豪华，已然被改写。 从问界M5、问界M7到问界M9，再到问界M8，四大新豪华爆款车型，已经让"豪华"的定义融入越来越多的"中国语法"。 现象级市场热度的背后，绝非偶然的市场爆发，而是中国新能源汽车从 "量的积累" 迈向 "质的飞跃" 的一种必然结果，更是问界品牌以技术为刃，叩开豪 华车市场大门的生动注脚。 问界坚持走难而正确的道路，不断用技术创新打造领先的产品，扎实做好技术、智造、服务等，最终用价值赢得市场，历经四年发展，问界已然守得云开 见月明，成为豪华SUV的标杆。 与此同时，智能新能源时代的豪华规则，已经开始由中国品牌来定义。 12月9日，央视新闻《在一起 鸿蒙智行》直播盛典重磅启幕，华为常务董事、产品投资委员会主任、终端BG董事长余承东与赛力斯集团董事长（创始 人）张兴海等五界掌门人首次齐聚。 作为中国豪华汽车引领者，问界开创了新能源汽车企业与ICT科技企业跨界合作的行业先河。问界始终坚持跨界合作，坚持走"软件定义汽车" ...

Core Insights - The AITO M9, co-developed by Seres and Huawei, has surpassed industry expectations, becoming a phenomenon in the luxury electric vehicle market with over 260,000 units delivered in 21 months [2][3] - The average transaction price of the AITO M9 is approximately 5.5 million yuan, contributing over 140 billion yuan to sales, which is about 1/13 of the projected retail total for China's new energy vehicle market in 2024 [2][3] Group 1: Product Performance - The AITO M9 has set a record for delivery speed in its class and has been the best-selling luxury SUV priced above 500,000 yuan for ten consecutive months [2] - The vehicle's Net Promoter Score (NPS) is 85.2, ranking first among new energy vehicles, with 38% of new owners coming from referrals by existing customers [2][3] Group 2: Technological Advantages - The AITO M9 features advanced technologies such as the QianKun Intelligent Driving ADS 4 system and the HarmonyOS 4 smart cockpit, enhancing user experience and comfort [3] - The vehicle offers impressive performance metrics, including a range of over 1,400 km for the extended range version and a 0-100 km/h acceleration time of just 4.3 seconds for the pure electric version [3] Group 3: Financial Performance - In 2024, Seres is projected to achieve total revenue of 145.176 billion yuan, with the AITO M9 contributing approximately 75 billion yuan, accounting for 51.7% of total revenue [4] - For the first three quarters of 2025, Seres reported revenue of 110.534 billion yuan and a net profit of 5.312 billion yuan, reflecting a year-on-year growth of 31.56% [4] Group 4: Market Recognition and Capital Attraction - The successful performance of the AITO M9 has significantly enhanced Seres' brand value, leading to a rise in its ranking among China's top 500 enterprises [4] - On November 5, Seres officially listed on the Hong Kong Stock Exchange, raising 14.016 billion HKD, marking it as the largest IPO for a car company in 2025 [5] Group 5: Global Expansion - Seres is focusing on global expansion, targeting markets in the Middle East and Europe, with the AITO M9 helping to reshape perceptions of Chinese automobiles abroad [5][6] - The company aims to transition from a leader in the Chinese high-end new energy market to a global leader in smart vehicles [6]

Core Viewpoint - The launch of the new color "Silver Purple" for the AITO M9 SUV enhances its luxury and technological appeal, while the introduction of the "Respect Four-Seat" configuration aims to meet diverse consumer needs in the high-end SUV market [1][18]. Design and Aesthetics - The "Silver Purple" color features a contrasting design with silver accents on the roof and pillars, creating a sophisticated visual effect that emphasizes the vehicle's luxury [2][4]. - The M9 now offers five exterior color options, with the addition of "Silver Purple" expanding its color palette and enhancing its visual diversity [4]. Technological Features - The M9 is equipped with advanced features such as a dual-million-pixel smart projection headlights and various scenario-based lighting options, enhancing the user experience [6]. - The vehicle includes the HarmonyOS 4 smart cockpit, which supports multi-screen connectivity and features a 32-inch retractable screen for an immersive in-car entertainment experience [11]. - The M9 is equipped with the HUAWEI ADS 4 driver assistance system, featuring 36 sensing hardware components, including a 192-line lidar for high-precision environmental perception [11]. Comfort and Health - The new model incorporates the Harmony ALPS cockpit with eco-friendly materials and an air purification system to ensure a healthy in-car environment [8]. - The "Respect Four-Seat" configuration includes zero-gravity seats designed for maximum comfort, with adjustable angles for relaxation during travel [12][14]. Market Position and Sales - The AITO M9 has achieved significant market success, with over 240,000 units delivered since its launch, maintaining a leading position in the large SUV segment for 18 months [9]. - The introduction of over 50 functional upgrades aims to enhance the vehicle's intelligence and convenience, further solidifying its competitive edge in the high-end automotive market [15][18].

Core Viewpoint - The 2025 World Intelligent Industry Expo in Chongqing showcased the Wanjie M9, a flagship SUV representing China's advancements in intelligent connected vehicles, highlighting the country's strength in the automotive sector during the smart era [1][11]. Group 1: Product Features - The Wanjie M9 features a HarmonyOS 4 smart cockpit with seamless multi-screen interaction and a 32-inch retractable projection screen, transforming the interior into a private cinema [3]. - It includes an AR-HUD system that integrates lane-level navigation with real-world visuals, enhancing the driving experience with a 75-inch display for clear information [3]. - The vehicle is equipped with HUAWEI ADS 4, featuring 36 perception hardware units, including the industry's highest 192-line laser radar, ensuring comprehensive and all-weather sensing capabilities [5]. Group 2: Performance and Safety - The Wanjie M9 boasts a minimum turning radius of 5.8 meters, making it easier to navigate urban environments, and features an all-aluminum chassis for improved handling and comfort [5]. - It has achieved a G+ rating in three categories during the C-NCAP crash tests, ensuring high safety standards with 80% aluminum content and nine airbags [5]. - The vehicle has sold over 230,000 units in 17 months, maintaining its position as the sales champion in the 500,000-level luxury SUV segment [5]. Group 3: Industry Recognition - The Wanjie M9 received the highest Net Promoter Score (NPS) in the 2025 semi-annual New Energy Vehicle Brand Health Research, indicating high consumer satisfaction [7]. - It won multiple awards, including "Extreme Heat Healthy Car" and "Extreme Heat Quality Car," showcasing its performance in extreme conditions [7]. Group 4: Manufacturing and Service Excellence - The success of the Wanjie M9 is attributed to a robust ecosystem that integrates R&D, production, supply, sales, and service, enhancing production efficiency and product quality [8]. - The "factory within a factory" model for battery production ensures synchronized development and quality control, providing reliable performance for the Wanjie M9 [10]. - The company emphasizes user-centric services, offering comprehensive roadside assistance and 24-hour mobile service to enhance customer experience [10]. Group 5: Strategic Implications - The Wanjie M9 symbolizes China's transition from following to leading in the intelligent connected vehicle sector, representing a significant leap in the luxury SUV market [11]. - With accelerated global market expansion, the Wanjie M9 is positioned to showcase Chinese manufacturing prowess and contribute to the global automotive industry's evolution [11].

Core Insights - The AITO Wenjie M8 electric version has achieved significant pre-sale success, with over 10,000 orders in just 8 hours and more than 15,000 orders within 72 hours, reflecting strong brand recognition and consumer demand [1][2] - The automotive industry is facing unhealthy "involution" competition, primarily driven by price wars, which threaten the quality and brand trust of electric vehicles [2][3] - The Wenjie M8 is positioned as a family-oriented smart flagship SUV, with a price range of 359,800 to 449,800 yuan, and has seen cumulative deliveries surpassing 40,000 units [1][2] Industry Trends - China's new energy vehicle (NEV) market is experiencing rapid growth, with production and sales reaching 6.968 million and 6.937 million units respectively in the first half of 2025, marking year-on-year increases of 41.4% and 40.3% [2] - NEVs accounted for 44.3% of total new car sales, indicating a significant market penetration [2] Product Features - The Wenjie M8 emphasizes safety with a high-strength body structure, comprehensive airbag systems, and advanced active safety technologies such as automatic emergency braking and lane-keeping assistance [2][3] - Comfort features include a spacious interior with a 3,510 mm effective space and a "room rate" of 67.6%, catering to family users [3] - The vehicle is equipped with a state-of-the-art smart cockpit featuring over ten screens and HarmonyOS 4, enhancing user interaction and experience [4] Market Positioning - The Wenjie M8 pure electric version is set to launch with a maximum range of 705 km, powered by a 100 kWh battery from CATL, and features advanced safety measures [5][8] - The Wenjie brand has established a comprehensive product matrix across the 300,000 to 500,000 yuan market segment, with models like the M7, M8, and M9 catering to different consumer needs [9][14] Competitive Strategy - The brand aims to redefine value through technology-driven innovation, moving away from traditional pricing strategies to establish a unique market position [17] - The Wenjie M8's success illustrates a new approach in the NEV sector, focusing on consumer value propositions and technological luxury to differentiate from competitors [4][17]

Core Insights - The AITO brand reported strong sales performance in June, with over 44,000 units delivered, highlighting its competitiveness in the luxury smart SUV market [1] - The AITO M8, positioned as a "family smart flagship SUV," achieved over 21,000 units delivered in June, dominating the 400,000 RMB market segment [1] Group 1: Sales Performance - AITO M8's sales success is attributed to its deep understanding of user needs, with intelligent driving assistance and smart cockpit features being the top two purchase decision factors [3] - The overall delivery of the AITO series in June exceeded 44,000 units, indicating a robust market presence [1] Group 2: Product Features - The AITO M8 is equipped with Huawei's ADS intelligent driving assistance system and 30 high-precision sensors, providing comprehensive perception capabilities for complex driving scenarios [3] - The vehicle features a spacious interior with a length of nearly 5.2 meters and a wheelbase of 3.1 meters, offering multiple seating configurations and high space utilization [5] Group 3: Brand Influence - AITO has established a strong brand presence, ranking first among domestic luxury new energy brands and eighth overall in the 2024 Brand Attraction List [6] - The brand's recognition and trust among consumers are reflected in a brand reference score of 1.6, significantly higher than the industry average of 1.1 [8]