吉利汽车2026年第二季度电话会议纪要

发布时间：2026-08-19 一、AI总结内容 一、核心业绩 1. 2026年上半年营收同比增长1%，行业平均下滑6%，吉利增速显著跑赢大盘；2. 公司上半年毛利率达17.9%，同比提升1.7个百分点，Q2单季毛利率达18.4%，其中极氪销量翻倍、出口毛利率高于国内约10个百分点，共同推动毛利率提升。 二、战略核心能力与布局 1. 三大核心支柱：系统能力（全域AI、动力链、智能布局）、战略韧性（聚焦主业、抗风险、与全球伙伴合作）、长期价值创造（全栈AI布局）； 2. 国内市场：上半年终端销量全国第一，聚焦极氪、银河、领克、吉利、星瑞等品牌，优化产品矩阵，减少重叠车型； 3. 海外布局：上半年出口同比增长158%达17.4万辆，新能源出口增长585%，拉美、欧洲、东南亚等市场增速超100%，计划2030年海外占比达三分之二，打造欧洲、东盟等核心产能基地，极氪等高端品牌获海外市场认可，部分海外市场出现加价订购情况； 4. 技术研发：布局超高速充电技术，计划2026年Q3推出5代充电技术，10%-70%充电仅需4分22秒，还有钠离子电池、固态电池等布局，i-HA混动技术热效率达48.41%，优于日系竞品。 三、领导团队变动 1. 李书福辞任吉利汽车控股董事长，安聪慧接任，李书福任终身荣誉主席； 2. 桂生悦辞任吉利汽车CEO，淦家阅接任，明确职业经理人体系，推动公司向现代化治理转型，减少家族化依赖，强化系统与制度驱动。 四、产品规划 1. 2026年下半年将推出银河ET、领克01极氪等纯电车型，吉利银河、星瑞系列继续升级混动产品，停止传统燃油车规划，全系向i-HA混动转型； 2. 极氪聚焦高端纯电，计划推出007等车型，海外拓展至拉美、欧洲等市场。五、风险与关注 1. 行业竞争激烈，中国汽车市场上半年销量双位数下滑，价格战风险仍存；2. 原材料、芯片价格波动，公司通过锁定供应商、套期保值控制成本；3. 部分产品存在品牌力断层，腰部车型不足，未来将优化产品结构，发力主力市场高端车型。 二、音频原文（转写） Of 2026, there is a well, the auto industry in China in the first half of 2026 is highly competitive. Many automakers are running at a loss. Theaverage profitability for auto industry in thefirst half of 2026 has reached 1.6. context setthat we achieved close to ten billion revenues attributable to shareholders. So our profitabilit y, our profit on a margin rate is about five point six percent, way above the industrial average. So I would say that this is a wonderful business performance for Gili during the first half oftwenty twenty six. Third, my third observationis that this financial statement is not that surprising. 零。 我刚才说了。中国汽车行业 for the first half of this year. 应该。The auto industry in China has faced the most challenging scenarios never met before in the past 20 years. the total sales 毛利 Uh units. Witnessed a double digit. Decline across about. twentytwenty six in the Chinese market. and we've seena rapid increase in the price of chips and other raw materials. So the competition is. 所以。 快点。throw cutting in the auto industry 有两个例子。Despite the fact that. Virginia Otto has enjoyed historic. 来人。RECORDS in terms of sales revenue andand business margin of grace trajectory. has inevitably been impacted by this negative trend inthe auto industry in china. So I would say thisis a wonderful financial statement, but it is not that surprising. This is my third observation.这个观点。 My fourth. if you point It's the one that wouldlike to share with you the most. 还有。长期。嗯。嗯。 and this function statement 提升供电。is a sustainable one. in the into the future and 最佳关系。就是。我的。 这个观点。I believe that. You're very much interestedin my full point. 我想。从这个 systematic capabilities, strategic resilience As well as. the pursuitof long term value creation capabilities are thethree key pillars to support my fourth point ofview. The competition in the modern order industry goes beyond product itself. It's the competition of different systems, strategic resilience and long term value creation capabilities. I canvery confidently tell you that of the years ofdevelopment within GLE. we've established the above-measured capabilities and abilities. I'd like to slightly elaborate on these three areas. First of all, talking about all the systematic capabilities. In March this year, when we releasedthe whole year business performance of 2025, I talked about the all domain AI safety benchmark,business integration, the diversification of power chain and energy. and other relevant and important topics during that event. That is exactlythese elements that constitute the systematic capabilities of Judy Otto. So it's fair to say that the achievements we've made during the first half of 2026 sound dependent on the result of a specific product or a specific segment or the result of a specific curve type. This is financialachievements we've made on the basis of the fullsystematic capabilities. Thanks to that systematic capabilities, we'll be able to. perform 对。 even better with greater confidence and face upthe challenges in the future. I'll give you 2 examples to sustain that. システムアリケートパラスティス 这个例假。inthe first half of 2026 You can take a look at our product portfolio. 对。 大的。The greatest highlight. is the transition toward intelligence. 我这感觉。在过去几 几年的详细。这里面短期。 解决的过程当中。So during the transition toward new energy, toward intelligence. 啊。对吧？对于 嗯。 In twenty twenty. five we've already 好，算出来。I'llbuild some sort of. confidence and on your energy power train. And in 2025, you still might havesome doubt over our intelligence capabilities.那么我们在 今天的 啊，有。 But before this event. We've organized some prog rams and activities. And I believe that. Many ofyou have participated at all into our. programsin there. and activities before this. Press conference. 对，对，对。 these events and programs 右上。exposed due to ourtrue intelligence capabilities. within the eeg system. 我们。I believe that through these programmes and activities and events. 这个。对啊。 you might now have a very deep understanding ofthe level of intelligence were able to achieve within Chile auto. And I believe that's in the intelligence in the dom