香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並表明不會就因本公佈全部或任何部份內容而產生 或因倚賴該等內容而引致之任何損失承擔任何責任。 GEELY AUTOMOBILE HOLDINGS LIMITED 175 80175 除本公佈另有界定或文義另有所指外，本公佈所用詞彙與該通函所界定者具有相同涵 義。 ZEEKR Intelligent Technology Holding Limited（「極氪」）為本公司之非全資附屬公司，其 股份以美國存託股份形式於美國紐約證券交易所上市，已於二零二五年十一月二十一 日，就預計合資格極氪持有人根據合併協議就其任何極氪股份或極氪美國存託股份作出 有效選擇的選擇截止時間向美國證券交易委員會遞交表格6-K。具體而言，極氪股份持有 人及極氪美國存託股份登記持有人之選擇截止時間分別為二零二五年十二月五日下午五 時正（美國東岸時間）及二零二五年十二月三日下午五時正（美國東岸時間）。更多詳情請 參閱刊載於美國證監會網站https://www.sec.gov/Archives/edgar/data/1954042/ 0 ...

中国青年报客户端讯（中青报·中青网记者 王京辉）近日，在中汽中心新能源检验中心主办的第三届新 能源汽车电安全大会上，吉利汽车旗下多款车型获得电安全领域奖项。 其中，银河M9、极氪9X获评"电磁安全年度车型"，领克900获评"充电安全年度车型"，银河星舰7EM-i 获评"功能安全年度车型"。 业内人士分析指出，当前，新能源汽车行业正从追求续航里程向注重综合安全性能转变。吉利汽车在电 安全领域的技术积累和市场表现，展现出中国品牌在新能源汽车核心技术方面的进步。未来，随着新能 源汽车保有量持续增长，电安全技术的创新将成为行业健康发展的重要保障。 据了解，吉利汽车已建立新能源汽车安全管理体系，并获得国内首张六维电安全证书和新能源汽车电磁 防辐射证书。今年11月，在国家市场监督管理总局技术创新中心主办的"第二届全国新能源汽车动力电 池安全预警算法大赛"中，吉利汽车获得特等奖。 来源：中国青年报客户端 根据中汽中心发布的汽车安全技术领域专利公开量数据显示，吉利汽车以1562件专利数位列中国品牌首 位。这些专利主要涵盖新能源汽车的电池安全、电磁兼容、功能安全等技术领域。 ...

Core Insights - The launch of the fifth-generation Emgrand marks a new development stage for Geely's classic model, showcasing advancements in both design and technology [3][5] - The Emgrand family has achieved cumulative sales of over 4 million units in 16 years, reflecting the rise and evolution of Chinese independent brands in the sedan market [2][5] Product Development - The fifth-generation Emgrand is available in four configurations, priced between 65,900 to 82,900 yuan, and features a new design with a front face consisting of 12 vertical grille bars [3] - The vehicle dimensions are 4815×1885×1480 mm with a wheelbase of 2755 mm, offering a high cabin space utilization rate of 85.1% and the largest rear headroom in its class at 970 mm [3] - It offers two powertrain options: a 1.5TD engine with 133 kW and 290 N·m torque, achieving 0-100 km/h in 7.9 seconds and a fuel consumption of 5.95 L/100 km [3] Technological Advancements - The fifth-generation Emgrand is equipped with the Flyme Auto intelligent cockpit system and a 14.6-inch central control screen, with high-end models optionally featuring L2-level assisted driving capabilities [3][4] - Geely has positioned the Emgrand as a technology pioneer within its lineup, having introduced features like 4G connectivity and advanced driver assistance systems in previous generations [4] Market Positioning - The Emgrand faces significant competition from both traditional joint venture brands like Nissan and Volkswagen, as well as emerging players in the new energy vehicle sector, such as BYD [3][4] - The A-segment sedan market is shifting from price competition to a comprehensive evaluation of space, safety, intelligence, and operating costs, necessitating the Emgrand to maintain its existing customer base while exploring new market opportunities [4] Global Perspective - Despite the rise of electric vehicles, fuel-powered cars still hold a 70% market share globally, with the Emgrand being sold in 25 countries and achieving top sales in markets like Saudi Arabia and the Philippines [4]

Group 1 - The report highlights that Xingfa Group's Q3 net profit attributable to shareholders increased by 16.17% year-on-year, driven by rising prices of glyphosate and other products, with a total revenue of 91.61 billion yuan in Q3 2025, reflecting a 5.96% year-on-year growth [3][4][9] - The report indicates that the average price of glyphosate reached 26,530 yuan per ton in Q3 2025, up 5% year-on-year, while the average price of phosphate rock remained high at 1,020 yuan per ton [4][6] - The acquisition of a 50% stake in Qiaogou Mining is expected to enhance the company's phosphate resource advantages, increasing its phosphate resource reserves from 3.95 billion tons to 5.80 billion tons [7][8] Group 2 - The report notes that Leap Motor's Q3 revenue surged by 97.3% year-on-year to 194.5 billion yuan, with a gross margin of 14.5%, marking a significant improvement [11][12] - The company is expanding its product lineup with the introduction of the D19 flagship model and the upcoming A10 model, which is expected to enhance its market position [13] - Leap Motor's export volume reached 17,000 units in Q3 2025, leading among new car manufacturers, and the company plans to accelerate its global localization strategy [14] Group 3 - Geely Automobile reported a Q3 revenue of 891.9 billion yuan, a 27% year-on-year increase, with a net profit of 38.2 billion yuan, reflecting a 59% year-on-year growth [16][17] - The company has adjusted its annual sales target to 3 million units, with significant contributions from its Galaxy series of vehicles [18] - Geely's export volume reached 112,000 units in Q3 2025, indicating strong overseas demand and competitive positioning [19] Group 4 - The report on Lianqi Technology emphasizes its leadership in memory interconnect chips, with a revenue of 6.33 billion yuan in the first three quarters of 2025, a 57.83% year-on-year increase [21][22] - The global AI server shipment is projected to grow significantly, with Lianqi expected to capture a 36.8% market share in the memory interconnect chip market by 2024 [22][23] - The company has launched new products based on CXL technology, which are anticipated to drive future growth [23] Group 5 - The report indicates that Xinyang's Q3 revenue reached 387 million yuan, with a significant increase in beauty treatment service revenue, which grew by 304.6% year-on-year [25][26] - The company plans to expand its offline medical beauty stores to 50 by the end of the year, enhancing its market presence [25] - Despite a net loss in Q3, the company expects profitability improvements in Q4 due to seasonal demand recovery [26] Group 6 - Trip.com Group reported a Q3 net operating revenue of 18.3 billion yuan, a 16% year-on-year increase, with a net profit of 19.9 billion yuan, reflecting a 194% year-on-year growth [29][30] - The company is benefiting from resilient domestic travel demand and strong growth in international business, particularly in cross-border travel [30][31] - The report anticipates continued growth in the global OTA business, with significant contributions from the Asia-Pacific region [31][32] Group 7 - Pinduoduo's Q3 revenue reached 108.3 billion yuan, a 9% year-on-year increase, with a Non-GAAP net profit of 31.4 billion yuan, up 14% year-on-year [39][40] - The report highlights a slowdown in advertising revenue growth, while transaction commission revenue continues to show steady performance [41] - The company is focusing on long-term value creation through increased investments in merchant support and platform development [42]

Group 1 - The founder of Bawang Tea Ji, Zhang Junjie, is getting married to Gao Haichun, daughter of the founder of Trina Solar, with a combined market value of approximately 613 billion yuan for their respective companies [5][6] - DJI has officially entered the consumer-grade 3D printing market by investing in Smart Pie Technology, indicating a strategic move towards innovative technology [11] - Ant Group's CTO He Zhengyu stated that the Lingguang App and Alibaba's Qianwen App are not competitors but rather allies in the pursuit of AGI [8][9] Group 2 - Xiaomi's 500,000th car has rolled off the production line, achieving this milestone in just 602 days, marking a record for global new energy vehicle companies [15] - Star Motion Era has completed nearly 1 billion yuan in A+ round financing, led by Geely Capital, indicating strong investor confidence in the robotics sector [17][18] - Huawei and GAC have had multiple disputes during their collaboration on the Qijiang project, highlighting the challenges in automotive partnerships [20][21] Group 3 - NetEase reported a Q3 revenue of 28.4 billion yuan, with gaming revenue reaching 23.3 billion yuan, reflecting a year-on-year growth of 11.8% [23] - The new Xiangjie S9 MPV from Huawei's Hongmeng Zhixing will be launched, featuring a price range of 309,800 to 369,800 yuan, with a focus on high-end configurations [24][25] - Meizu Technology has clarified that it will not relocate its headquarters despite a building being listed for sale, emphasizing its commitment to its current location [27][28] Group 4 - Nvidia has warned that its potential $100 billion investment in OpenAI is not guaranteed, reflecting the uncertainties in large-scale tech investments [37][38] - Qualcomm has filed a complaint leading to a raid on Arm's Seoul office by South Korea's antitrust agency, indicating ongoing tensions in the semiconductor industry [38][39] - Google has introduced AI content detection features in its Gemini application, aiming to enhance transparency in AI-generated content [39][40]

Core Viewpoint - Brazil welcomes active participation of Chinese enterprises in the country's energy green transition, aiming for sustainable development and mutual benefits [1] Group 1: Strategic Cooperation - Geely Holding Group and Geely Automobile Holdings Limited have initiated a strategic cooperation with Renault Group in Brazil [1] - This strategic partnership reinforces the development framework of Brazil's automotive industry, focusing on innovation, sustainability, and competitiveness [1]

Core Viewpoint - Geely Auto has officially launched the fifth-generation Emgrand in Hangzhou, with a limited-time promotional price ranging from 65,900 to 82,900 yuan, and offers seven additional benefits for purchases made before November 30, 2025 [1] Pricing and Offers - The fifth-generation Emgrand is available in four configurations with promotional prices: 65,900 yuan for the base model, 70,900 yuan for the mid-range model, 78,900 yuan for the higher-end model, and 82,900 yuan for the top model [2] - Additional promotional offers include cash gifts, financial services, and extended warranties [2] Design and Aesthetics - The vehicle integrates Chinese cultural elements with modern technology, featuring a front design inspired by traditional concepts and a sleek body profile [3] - The car's dimensions are 4,815 mm in length, 1,885 mm in width, and 1,480 mm in height, with a wheelbase of 2,755 mm, providing ample interior space [5] Safety Features - The fifth-generation Emgrand employs a submarine-level cage body structure with 70% high-strength steel, achieving a torsional rigidity of 26,000 N.m/deg [6] - Advanced safety features include a high-strength steel anti-collision beam and energy-absorbing structures designed to protect the passenger cabin during collisions [6] Performance and Powertrain - The vehicle offers two powertrain options: a 1.5TD engine with 133 kW and 290 N.m torque, and a 1.5L engine with an 8CVT transmission [8] - The 1.5TD variant achieves a 0-100 km/h acceleration in 7.9 seconds and a fuel consumption of 5.95 L/100 km, balancing performance and efficiency [8] Technology and Connectivity - The fifth-generation Emgrand features the GEEA3.0 electronic architecture, supporting OTA upgrades and a Flyme Auto intelligent cockpit system with a 14.6-inch display [9] - It includes advanced voice recognition and seamless connectivity with multiple smartphone brands [9] Driver Assistance Systems - The vehicle incorporates an L2-level driver assistance system, enhancing safety with features like collision warning, automatic emergency braking, and lane-keeping assistance [11] - It also offers comprehensive parking assistance and high-speed driving capabilities, ensuring a safer driving experience [11] Market Positioning - The Emgrand family has achieved over 4 million sales, positioning itself as a leading Chinese sedan brand with a commitment to continuous innovation [12]

Investment Rating - The investment rating for Geely Automobile is "Buy" and is maintained [7] Core Views - Geely Automobile reported a revenue of 239.48 billion yuan for the first three quarters of 2025, representing a year-on-year increase of 26.4%. Total sales reached 2.17 million vehicles, up 45.7% year-on-year, with a core net profit attributable to shareholders of 10.62 billion yuan, an increase of 59% year-on-year [2][4] - The new platform has empowered Geely to enter a new product era, with the GEA architecture supporting a new vehicle cycle. The brands Zeekr, Lynk & Co, and Galaxy are all performing well, and the transition to new energy vehicles is progressing smoothly, leading to increased profitability [2][8] - The company’s strong foundation in fuel vehicles and innovative overseas expansion strategies are opening new markets. The intelligent driving strategy is accelerating the enhancement of driving capabilities, indicating significant profit elasticity in the new vehicle cycle [2][8] Summary by Sections Financial Performance - In Q3 2025, Geely achieved a revenue of 89.19 billion yuan, a year-on-year increase of 26.5% and a quarter-on-quarter increase of 14.7%. Total sales for Q3 were 761,000 vehicles, with significant growth in the Galaxy and Lynk & Co brands [8] - The Q3 net profit attributable to shareholders was 3.82 billion yuan, a year-on-year increase of 59.3%, with a single vehicle profit of 5,000 yuan, up 11.8% year-on-year [8] Brand Performance - In Q3, Zeekr and Lynk & Co combined sales reached 140,000 vehicles, with total revenue of 31.56 billion yuan, reflecting a year-on-year increase of 9.1%. However, both brands reported a net loss of 460 million yuan for the quarter [8] Strategic Initiatives - Geely plans to launch 10 new energy models in 2025, with significant focus on electric and intelligent vehicles. The new models will feature advanced driving assistance systems, enhancing the company's competitive edge in the market [8] - The company is focusing on brand strategy, with a strong emphasis on electrification and intelligence, supported by a robust new vehicle cycle [8]

11月20日，第19届国际汽车交通安全学术会议在宁波召开。吉利汽车集团副总裁、吉利汽车研究院院长李传海在致辞中表示：汽车行业的智能化下半场由 AI与数据驱动，数字安全是行车安全和用户信任的基石。全行业应反对盲目内卷、坚守安全底线，围绕"AI安全+网联安全"构建行车安全新防线，并将"全 域安全"的价值从私域扩展到公域，携手共建安全技术开放生态，实现真正的安全平权。 会议期间，李传海还透露，吉利全球全域安全中心将于12月正式发布，未来将向全行业共享，共创行业安全新标杆。 ...

Core Insights - The A-class car segment is experiencing intensified competition, prompting automakers to increase investments significantly [2] - In October 2023, wholesale sales of A-class sedans reached 410,200 units, accounting for 34.94% of the total wholesale market share, with a cumulative total of 3,401,400 units from January to October 2025 [2] - Geely Auto is emerging as a leader in the A-class car segment, with cumulative sales of the Emgrand model exceeding 4 million units since its launch in 2009 [2] Company Developments - Geely Auto has announced the launch of the 5th generation Emgrand on November 18, 2023, with a starting price of 65,900 yuan after promotional policies [2] - The 5th generation Emgrand is built on the new BMA Evo global modular architecture, showcasing advancements in aesthetics, comfort, safety, driving experience, and intelligence [2][3] - The vehicle features a submarine-level cage body structure, with a high-strength steel ratio of 70%, a maximum tensile strength exceeding 1500 MPa, and a torsional rigidity of 26,000 N·m/deg [3] Technological Innovations - The 5th generation Emgrand is equipped with the Qianli Haohan H3 advanced driver-assistance system, integrating 26 high-precision sensors and a 128 TOPS computing chip for comprehensive intelligent driving capabilities [3] - The vehicle supports nationwide coverage for high-speed and urban driving assistance functions, enhancing the overall user experience in the A-class sedan market [3]