The new forces in car manufacturing are entering the profitable season, changing the industry's competitive dynamics.

Recently, NIO released its profit forecast for the fourth quarter, Xiaopeng also sent out a signal of quarterly profit, and companies like Zerun have set their sights on annual profit targets... As representatives of the innovative force, the new forces of car companies are collectively crossing the critical point from "blood transfusion" to "blood generation". In the eyes of many industry observers, this marks the transition of new forces of car companies from a noisy youth to adulthood. After achieving phased profits, sustainable profitability and healthy cash flow will become the new pursuit of new forces of car companies. This will not only promote the advancement of competition strategies in the automotive industry, but may also shift the capital logic from pursuing "beta" to seeking "alpha". Taking into account the opinions of multiple interviewees, after achieving profitability, the survival rule of new forces of car companies is expected to shift from brutal growth to precision farming, the valuation system is expected to shift from manufacturing to technology narrative, and the strategic path is expected to shift from domestic competition to global game. From "blood transfusion" to "blood generation", the new forces of car making are collectively rushing towards profitability, expected to change the industry's competitive logic and also set a new threshold for the next round of financing. Cui Dongshu, the secretary general of the National Joint Meeting of Passenger Car Market Information, believes that car competition has shifted from "product supremacy" to "system capability competition". In the context of price wars, diversified demand, and accelerated technological iteration, car companies are facing a comprehensive test in terms of product definition, cost control, technology implementation, and brand operation.