该信息由智通财经网提供 智通财经APP讯，吉利汽车(00175)发布公告，于2026年2月6日斥资2716.12万港元回购166.5万股。 于 2026年2月6日注销6743.1万股。 ...

于2026年2月6日注销6743.1万股。 吉利汽车(00175)发布公告，于2026年2月6日斥资2716.12万港元回购166.5万股。 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 吉利汽車控股有限公司 呈交日期： 2026年2月6日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | | 00175 | 說明 | | | | | | | | 多櫃檯證券代號 | | 80175 | RMB 說明 | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | | ...

Core Viewpoint - The 2026 policy for replacing old products with new ones will continue to be implemented, focusing on the automotive, home appliance, and digital product sectors, with an emphasis on nationwide consistency and regulatory measures to enhance market efficiency [3][5][7]. Group 1: Policy Changes - The 2026 subsidy mechanism will shift from a fixed amount to a "proportional + cap" model, which will primarily benefit lower-priced, subsidy-sensitive economic models while maintaining stable incentives for mid-to-high-priced vehicles [6][11]. - The new subsidy guidelines aim to standardize the subsidy amount across the country, reducing local discrepancies and potential arbitrage opportunities [5][12]. Group 2: Market Impact - The 2025 old-for-new policy significantly boosted passenger car sales in China, demonstrating a strong correlation between the policy and market performance, particularly in promoting the adoption of new energy vehicles [8][12]. - The completion of annual sales targets by several automakers, including BYD and SAIC, indicates a competitive landscape, with traditional manufacturers adopting cautious growth targets while new entrants remain optimistic [9]. Group 3: Tax and Financial Measures - In 2026, the purchase tax for new energy vehicles will be halved, with a maximum tax reduction of 15,000 yuan, prompting various automakers to introduce compensatory measures to cover tax differences [10]. - The adjustment in subsidy algorithms is expected to reshape market dynamics, emphasizing sustainable and balanced use of subsidies rather than merely increasing them [11][12].

Core Viewpoint - In January, Geely Auto's total sales slightly exceeded industry expectations, with a total of 270,200 vehicles sold, representing a year-on-year increase of 1.3% [1] Group 1: Sales Performance - In January, the overall retail market for narrow passenger vehicles was estimated at approximately 1.8 million units, a year-on-year increase of 0.3%, with new energy vehicles expected to account for around 800,000 units, growing approximately 7.5% [1] - Geely's brand sales in January reached 217,400 units, a year-on-year decrease of 3.2% but a month-on-month increase of 25.8% [2] - Geely's new energy vehicle sales in January were 124,300 units, a year-on-year increase of 2.6%, while fuel vehicle sales were 145,900 units, a year-on-year increase of 0.2% and a month-on-month increase of 76.8% [2] Group 2: Product Launches and Strategy - The launch of the Geely Galaxy V900 on January 20, priced between 269,800 and 329,800 yuan, is part of the company's strategy to enhance its product matrix [2] - Geely plans to introduce approximately 10 new models in 2026, which is expected to strengthen its sales resilience against the backdrop of reduced new energy subsidies [2] - The Zeekr brand achieved significant sales growth in January, with 23,900 units sold, a year-on-year increase of 99.7% [3] Group 3: International Expansion - Geely's exports in January reached 60,500 units, representing a year-on-year increase of 121.2% and a month-on-month increase of 50.1%, indicating successful overseas market expansion [2] - The launch of the Zeekr 007 GT in Europe and the Geely EX2 in Indonesia highlights the company's efforts to penetrate international markets [2] Group 4: Future Outlook - The integration of Geely and Zeekr's strategies is expected to gradually reveal synergies and scale effects [3] - Forecasts for net profit attributable to the parent company for 2025-2027 are 17.041 billion, 20.604 billion, and 24.318 billion yuan, respectively, with a target price of 20.79 yuan [3]

Core Insights - The CLNB 2026 New Energy Industry Expo will take place from April 8 to 10, 2026, at the Suzhou International Expo Center, featuring over 1,500 exhibitors, 30,000 professional visitors, and more than 200 international procurement teams from over 30 countries [1] Group 1: Exhibition Overview - The expo aims to provide valuable opportunities for attendees to connect with suppliers, projects, and collaboration opportunities in the new energy sector [1] - The event will feature a wide range of displays, including new battery technologies, mining resources, advanced materials, and battery recycling [2][3][4] Group 2: Business Matching Services - CLNB will offer a one-on-one business matching service, connecting exhibitors with selected professional buyers to facilitate in-depth communication and potential partnerships [4] - The event will include a VIP procurement matching session, ensuring targeted outreach to key buyers and decision-makers [4] Group 3: Forums and Discussions - The expo will host multiple forums focusing on global resource dynamics in lithium, nickel, and cobalt, as well as advancements in lithium batteries, solid-state technology, and energy storage [10][11] - The event will also feature discussions on the integration of aluminum and copper industries with the new energy sector, creating a comprehensive ecosystem for industry participants [10][11] Group 4: Group Participation Benefits - Groups of five or more attendees will receive special benefits, including customized services, access to multiple forums, and invitations to gala dinners [6][7] - Group members will also receive commemorative badges and access to presentation materials from the event [7]

Domestic News - The Ministry of Industry and Information Technology (MIIT) is accelerating the development of key standards for driving automation, collision safety, and control components to enhance automotive safety and quality performance, laying a solid foundation for sustainable high-quality development in the industry [2] - The State Administration for Market Regulation has released 32 national measurement technical specifications, including the first professional measurement testing specification for automatic parking performance in intelligent connected vehicles [3] - Guangdong Province aims to expand the testing and demonstration application scope of intelligent connected vehicles, encouraging digital transportation service platforms to provide integrated smart traffic services [4] International News - Volkswagen has reached a preliminary labor agreement with the United Auto Workers (UAW) for its Tennessee plant, covering approximately 3,000 employees, which includes a 20% wage increase and improved medical benefits and job security [5] - Volvo Cars reported a significant decline in 2025, with global sales down 7% to 710,000 units, revenue down 11%, and operating profit plummeting 99% to 300 million Swedish Krona (approximately 230 million RMB) [6] - Canada plans to abolish mandatory electric vehicle sales regulations, replacing them with a new fuel efficiency standard system that aims for all new light vehicles sold in Canada to be electric by 2035 [8] Company News - Leap Motor's COO announced a sales target of 1.05 million units by 2026, emphasizing stability and consistent performance in their product offerings [9] - Ford is in talks with Geely for potential collaboration, focusing on utilizing Geely's production capacity in Europe and sharing vehicle technologies, including autonomous driving [10] - NIO expects to achieve adjusted operating profit of approximately 700 million to 1.2 billion RMB in Q4 2025, marking the company's first quarterly adjusted operating profit in its 11-year history [11] - XPeng Motors announced its first flagship six-seat SUV, the XPeng GX, built on the new SEPA 3.0 physical AI vehicle architecture [12] - Tesla's Shanghai Gigafactory is projected to account for over half of Tesla's global deliveries by 2025, with the energy storage factory also beginning to supply multiple markets [13] - Changan Automobile, in collaboration with CATL, launched the world's first sodium-ion battery production passenger vehicle, marking a significant step in their sodium battery strategy [14]

Group 1 - Zhejiang Geely Holding Group Co., Ltd. and Zhejiang Zeekr Intelligent Technology Co., Ltd. have obtained a patent for a "Control Method and Vehicle for Heat Pipe Management System," with the authorization announcement number CN116852938B, applied on June 2023 [1] - Zhejiang Zeekr Intelligent Technology Co., Ltd. was established in 2021, located in Ningbo, focusing on research and experimental development, with a registered capital of 1.3 billion RMB [1] - The company has invested in 10 enterprises, participated in 195 bidding projects, and holds 5,000 patent records, along with 4 administrative licenses [1] Group 2 - Zhejiang Geely Holding Group Co., Ltd. was founded in 2003, located in Hangzhou, primarily engaged in the automotive manufacturing industry, with a registered capital of 1.03 billion RMB [1] - The company has invested in 39 enterprises, participated in 524 bidding projects, and has 5,000 trademark records and 5,000 patent records, along with 275 administrative licenses [1]

Core Viewpoint - The automotive industry is entering a slow growth phase, leading companies to set more conservative sales targets for 2026 compared to previous years' aggressive goals [1] Group 1: Sales Targets and Growth Expectations - Multiple automakers have announced their sales targets for 2026, with a general trend of more cautious expectations [1] - Leap Motor and Xiaomi Auto have higher growth expectations, but they do not project the aggressive "doubling" of sales seen in previous years [1] - Dongfeng Motor, which did not meet its 2025 sales target, has set an ambitious growth target of over 30% for 2026 [1] - Geely Auto aims for a sales target of 3.45 million units in 2026, representing a 14% increase from 2025 [2] - Changan Auto has set a target of 3.3 million units for 2026, a 13.3% increase, with a significant focus on electric vehicles [2] - Chery Group targets 3.2 million units, a 14.03% increase from 2025 [2] - Dongfeng Motor's 2026 target is 3.25 million units, with a 31.45% increase from its 2025 performance [3] - Great Wall Motors has lowered its target to 1.8 million units but still expects a 36% increase from 2025 [4] Group 2: New Energy Vehicle (NEV) Focus - Geely expects NEV sales to rise to 2.22 million units in 2026, accounting for 64% of total sales, a 32% increase from 2025 [2] - Changan anticipates NEV sales of 1.4 million units in 2026, a 26.2% increase [2] - Dongfeng aims for 1.7 million NEV sales in 2026 [3] Group 3: New Product Launches - Automakers are focusing on new product launches to stimulate market demand, with several companies planning multiple new models [5][7] - NIO plans to release five new models, while Leap Motor will introduce four new models [5] - Xiaomi Auto is set to launch several new vehicles, including the next-generation SU7 [5] - Traditional automakers like Changan and BYD are also planning numerous new product releases [7] Group 4: Industry Challenges - Experts warn that rapid product iteration may erode profit margins due to high R&D and production costs [8] - The automotive industry's sales profit margin was reported at 4.1% in 2025, the lowest in history, indicating increasing survival pressures for manufacturers [8]

Core Viewpoint - The automotive industry is experiencing a promotional wave centered around "7-year low-interest" financing options, significantly lowering the barriers for consumers to purchase electric vehicles [2][5]. Group 1: Promotional Strategies - Multiple electric vehicle brands are emphasizing low down payments, low interest rates, and low monthly payments, with monthly payments generally around 2000 yuan [3][4]. - Tesla initiated this trend with a 7-year low-interest financing plan, prompting at least 10 other automakers, including Xiaomi, Li Auto, and Xpeng, to follow suit [2][6]. - The promotional period primarily spans January to February, with various automakers offering different financing terms and conditions [4][5]. Group 2: Financing Models - The financing options are predominantly provided by automotive financing leasing companies or third-party financial institutions, rather than traditional banks [3][7]. - Consumers are advised to be cautious of the hidden costs associated with long-term low-interest financing, as extended payment periods may lead to higher total interest costs [3][9]. - The ownership structure differs between bank loans and financing leases, with the latter retaining ownership with the leasing company until the end of the lease term [8][9]. Group 3: Market Impact - The introduction of 7-year low-interest financing is expected to intensify competition among automakers, providing an alternative to direct subsidies and incentives [7]. - The regulatory environment has evolved to support longer financing terms, allowing for more flexible consumer financing options [7].