10月6日，吉利汽车宣布拟进行23亿港元股份回购计划，回购的股份将予以注销，以优化股本结构。吉利汽车表 示，在目前市场不明朗的情况下进行股份回购，能展示公司对其业务展望及前景充满信心。 长江商报记者注意到，2025年以来，吉利汽车的新能源车销量持续发力。前9个月，公司的新能源车销量同比增长 113.94%至116.78万辆，占总销量的比例升至53.8%，较上年同期提升了17.17个百分点。 业绩方面，上半年，公司实现营业收入1502.85亿元，创历史同期新高；扣除汇兑损益等因素，公司核心归母净利 润约为66.6亿元，同比增长102%。 拟最高23亿港元回购股份 根据公告，吉利汽车最高金额达23亿港元的股份回购计划，在获得香港联交所批准后，将通过自动化机制在公开 市场分批回购。 根据2025年5月30日吉利汽车股东年会上授予的一般性股份回购授权，公司计划回购不超过10.08亿股，相当于股 东年会日期已发行股份总数的10%。 回购完成后，相关股份将被注销，且公司在回购完成后的30日内将不再发行新股。据悉，本次回购资金来自吉利 汽车现有的资本及现金储备。 吉利汽车董事会认为，实施计划符合公司及其股东的整体最佳利益。 ...

Core Viewpoint - The automotive market is experiencing significant growth driven by consumer demand for new energy vehicles (NEVs) and favorable policies, despite some regional challenges in vehicle replacement subsidies [2][5][8] Market Performance - During the National Day and Mid-Autumn Festival holiday, major auto shows in cities like Suzhou, Nanjing, and Guangzhou showcased thousands of models, leading to increased sales and transaction amounts [1][4] - In September, passenger car sales showed steady year-on-year growth, with NEVs becoming mainstream, while sales performance varied significantly among different automakers [5][6] Policy Impact - The upcoming restoration of the vehicle purchase tax for NEVs starting January 1, 2026, has prompted automakers like NIO, Zeekr, and Li Auto to introduce tax difference subsidy policies to encourage consumer purchases [2][3] - Some regions have seen a decline in customer traffic and sales due to the suspension of vehicle replacement subsidies, leading to a more cautious consumer sentiment [2][3] Sales Trends - In September, the overall passenger car market grew, but there was a notable divergence in sales among different brands, with domestic brands and new energy vehicle manufacturers showing varied performance [5][6][7] - Shanghai Automotive Group led with sales of 439,800 units, a 40.39% increase, while BYD's sales fell by 5.5% to 396,300 units, marking its first monthly decline since March 2024 [6][7] New Energy Vehicle Segment - New energy vehicle sales are becoming a focal point, with companies like Zhejiang Leapmotor achieving a 97% year-on-year increase in sales, while others like Li Auto faced a 36% decline [7][8] - The overall performance of joint venture brands in September showed stable sales for traditional fuel vehicles but struggled in the NEV segment, highlighting a slower transition to electric models [8] Future Outlook - Industry experts remain optimistic about the automotive market's trajectory, anticipating a moderate recovery in October sales due to holiday demand and year-end promotions [8] - Projections indicate that by 2025, China's NEV sales could reach 15.78 million units, with a penetration rate of 53.7% [8]

小摩预期，若吉利汽车执行持续理想，其2025及2026财年纯利有潜在10%至15%上行空间。目前，小摩 预测公司2026年销量增长15%，包括出口市场增长逾50%及国内市场成长约8%，高于整体PV市场(料同 比持平)。 该行对吉利基于平台策略的强大车款周期持建设性看法，这应有助吉利持续获取市场份额；也看好吉利 在挑战市场中，透过与全球/区域领导者如Daimler及宁德时代（300750）(03750)的伙伴关系或合资企 业，在同业中展现长期前景及技术领导地位。 摩根大通发布研报称，吉利汽车(00175)日前宣布其董事会已批准一项价值23亿港元的股票回购提案。 小摩相信，此回购提案显示吉利管理层对公司未来充满信心，包括2026年潜在获利或股价上行空间，届 时补贴计划到期后，整体汽车需求可能放缓或下滑。小摩维持对吉利的"增持"评级，目标价22港元。 该行相信回购提案显示管理层认为吉利被市场低估，鉴于其稳固的盈利动能，本年至今市场对其今明两 年预测已上调介乎25%至30%；小摩又预测吉利今年第三季纯利将达到约38亿人民币，主要受销量带 动。 ...

该行对吉利基于平台策略的强大车款周期持建设性看法，这应有助吉利持续获取市场份额；也看好吉利 在挑战市场中，透过与全球/区域领导者如Daimler及宁德时代(03750)的伙伴关系或合资企业，在同业中 展现长期前景及技术领导地位。 该行相信回购提案显示管理层认为吉利被市场低估，鉴于其稳固的盈利动能，本年至今市场对其今明两 年预测已上调介乎25%至30%；小摩又预测吉利今年第三季纯利将达到约38亿人民币，主要受销量带 动。 智通财经APP获悉，摩根大通发布研报称，吉利汽车(00175)日前宣布其董事会已批准一项价值23亿港元 的股票回购提案。小摩相信，此回购提案显示吉利管理层对公司未来充满信心，包括2026年潜在获利或 股价上行空间，届时补贴计划到期后，整体汽车需求可能放缓或下滑。小摩维持对吉利的"增持"评级， 目标价22港元。 小摩预期，若吉利汽车执行持续理想，其2025及2026财年纯利有潜在10%至15%上行空间。目前，小摩 预测公司2026年销量增长15%，包括出口市场增长逾50%及国内市场成长约8%，高于整体PV市场(料同 比持平)。 ...

摩根大通发表研究报告指，吉利汽车日前宣布其董事会已批准一项价值23亿港元的股票回购提案，相信 回购提案显示管理层认为吉利被市场低估，鉴于其稳固的盈利动能，本年至今市场对其今明两年预测已 上调介乎25%至30%；摩通又预测吉利今年第三季纯利将达到约38亿元，主要受销量带动。摩通预期， 若吉利汽车执行持续理想，其2025及2026财年纯利有潜在10%至15%上行空间。摩通维持对吉利的"增 持"评级，目标价22港元。 ...

Core Viewpoint - Geely Automobile achieved record high sales in September, with market share expected to continue increasing [1] Group 1: Sales Performance - Geely Galaxy's sales experienced significant year-on-year growth, with new models expected to further boost sales [1] Group 2: Company Developments - The official launch of Zeekr 9X and the planned share buyback demonstrate the company's confidence in its development [1] Group 3: Financial Projections - The company forecasts EPS of 1.49, 1.75, and 2.12 yuan for the years 2025 to 2027, respectively [1] - The target price is set at 24.48 HKD, maintaining a buy rating based on a comparable company PE average valuation of 15 times for 2025 [1]

消息面上，10月6日，吉利汽车宣布拟实施一项最高金额达23亿港元的股份回购计划。本次回购资金来 自吉利汽车现有的资本及现金储备，体现了吉利汽车充裕的资本实力和稳健的财务状况。吉利汽车董事 会认为，实施计划符合公司及其股东的整体最佳利益。在目前市场不明朗的情况下进行股份回购，能展 示公司对其业务展望及前景充满信心，并最终为公司带来裨益及为股东创造价值。 吉利汽车(00175)逆市涨超3%，截至发稿，涨2.84%，报19.57港元，成交额7.15亿港元。 ...

Core Insights - The article highlights the upcoming CINE2025 Solid-State Battery Exhibition and Industry Annual Conference scheduled for November 6-8, 2025, in Guangzhou, with significant participation expected from over 200 exhibitors and 20,000 professional attendees [2] Industry Overview - In the first seven months of 2025, China's new energy vehicle (NEV) sales reached 8.22 million units, marking a year-on-year increase of 38.5%, with a penetration rate of 45.0%, up by 8.6 percentage points [2] - The installed capacity of power batteries in China during the same period was 343.52 GWh, reflecting a year-on-year growth of 40.2% [2] Market Dynamics - A total of 48 power battery companies provided vehicle matching in the first seven months of 2025, a decrease of 3 companies compared to the previous year, primarily serving passenger vehicles [4] - The top 10 power battery companies by installed capacity included CATL, BYD, and others, with a total installed capacity of 153.46 GWh [5][6] Battery Technology Trends - The market concentration for the top 10 battery companies (CR10) was 95.3%, a decrease of 1.3 percentage points year-on-year, attributed to the rise of companies like Tsinghua Unigroup and others [6] - In terms of battery materials, the installed capacity for ternary batteries was 66.63 GWh (19.4% market share), down by 7.2 percentage points, while lithium iron phosphate batteries accounted for 276.56 GWh (80.5% market share), up by 7.2% [6] Battery Form Factor - The installed capacity for square batteries was 334.29 GWh (97.3% market share), showing a slight increase of 0.5 percentage points year-on-year, while cylindrical batteries accounted for 7.28 GWh (2.1% market share) [8] - The announcement by BMW Group regarding the upcoming use of large cylindrical batteries is expected to boost the market share of cylindrical batteries [8]

（原标题：吉利汽车(00175)因认股权获行使发行4000股） 智通财经APP讯，吉利汽车(00175)发布公告，于2025年10月8日因集团雇员根据认股权计划(于2023年4 月28日获采纳)行使认股权而发行4000普通股股份。 ...

Core Viewpoint - Geely Automobile (00175) announced the issuance of 4,000 ordinary shares on October 8, 2025, due to employees exercising stock options under a plan adopted on April 28, 2023 [1] Summary by Relevant Sections - **Company Announcement** - Geely Automobile will issue 4,000 ordinary shares as a result of employees exercising stock options [1]