Core Viewpoint - Beijing Automotive has announced significant personnel changes within its board of directors and senior management, including resignations and new appointments, aimed at ensuring governance integrity and operational continuity [2][3]. Group 1: Resignations - Multiple directors are stepping down due to work-related changes, including: - Hu Hanjun will no longer serve as a non-executive director and member of the Strategic and Sustainable Development Committee and Audit Committee [2] - Chen Hongliang will no longer serve as a non-executive director and member of the Strategic and Sustainable Development Committee [2] - Song Wei will no longer serve as an executive director, member of the Strategic and Sustainable Development Committee, Compensation Committee, and Nomination Committee, and will terminate his role as President effective November 29, 2025 [2] - Peng Jin will no longer serve as a non-executive director and member of the Strategic and Sustainable Development Committee [2] Group 2: New Appointments - The board has proposed the appointment of three individuals to fill the vacated positions: - Gu Xin as a non-executive director and member of the Strategic and Sustainable Development Committee and Audit Committee [3] - Chen Geng as an executive director and member of the Strategic and Sustainable Development Committee, Compensation Committee, and Nomination Committee [3] - Zhu Yan as an executive director and member of the Strategic and Sustainable Development Committee [3] Group 3: Background of New Appointees - Gu Xin, born in September 1976, holds an MBA and has extensive experience in capital operations and corporate management, currently serving as the Secretary of the Board of Beijing Automotive Group [3][4] - Chen Geng, born in June 1976, holds a Master's degree in Management and has a strong background in corporate management, previously serving as Vice Secretary and President of Beijing Hainachuan Automotive Parts Co., Ltd [4] - Zhu Yan, born in December 1986, holds an MBA and is a senior accountant, currently serving as Vice President and CFO of the company, with a rich background in financial management [4]

董事会建议委任：顾鑫先生为非执行董事及战略与可持续发展委员会及审核委员会成员;陈更先生为执 行董事及战略与可持续发展委员会、薪酬委员会及提名委员会成员;朱雁女士为执行董事及战略与可持 续发展委员会成员，全部任期自股东会批准之日起至第五届董事会任期届满为止。 董事会于2025年11月29日举行会议，陈更先生获委任为总裁，任期自2025年11月29日起至第五届董事会 任期届满为止。 北京汽车(01958)发布公告，由于工作变动，胡汉军先生将不再担任非执行董事、董事会战略与可持续 发展委员会成员及董事会审核委员会成员;陈宏良先生将不再担任非执行董事及战略与可持续发展委员 会成员;宋玮先生将不再担任执行董事、战略与可持续发展委员会成员、董事会薪酬委员会成员及董事 会提名委员会成员;彭进先生将不再担任非执行董事及战略与可持续发展委员会成员，上述变动均自新 董事委任获批准之日起生效。宋玮先生亦自2025年11月29日起终止担任公司总裁职务。 ...

Core Viewpoint - Beijing Automotive (01958) announced significant changes in its board of directors, including the resignation of several members and the appointment of new ones, effective upon approval by the shareholders' meeting [1] Group 1: Board Changes - Mr. Hu Hanjun will no longer serve as a non-executive director and member of the Strategic and Sustainable Development Committee and Audit Committee [1] - Mr. Chen Hongliang will no longer serve as a non-executive director and member of the Strategic and Sustainable Development Committee [1] - Mr. Song Wei will no longer serve as an executive director, member of the Strategic and Sustainable Development Committee, member of the Remuneration Committee, and member of the Nomination Committee; he will also cease to be the company's president effective November 29, 2025 [1] - Mr. Peng Jin will no longer serve as a non-executive director and member of the Strategic and Sustainable Development Committee [1] Group 2: New Appointments - Mr. Gu Xin will be appointed as a non-executive director and member of the Strategic and Sustainable Development Committee and Audit Committee, effective from the date of shareholder approval [1] - Mr. Chen Geng will be appointed as an executive director and member of the Strategic and Sustainable Development Committee, Remuneration Committee, and Nomination Committee, effective from the date of shareholder approval [1] - Ms. Zhu Yan will be appointed as an executive director and member of the Strategic and Sustainable Development Committee, effective from the date of shareholder approval [1] Group 3: Presidential Appointment - The board meeting on November 29, 2025, will see Mr. Chen Geng appointed as president, with his term lasting until the end of the fifth board's term [1]

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告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本公告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。 北京汽車股份有限公司 BAIC MOTOR CORPORATION LIMITED* （於中華人民共和國註冊成立的股份有限公司） （股份代號：1958） 董事及總裁變更 北京汽車股份有限公司（「本公司」）董事（「董事」）會（「董事會」）於2025年11月29日舉行會議並謹此宣 佈，由於工作變動，(i)胡漢軍先生將不再擔任非執行董事、董事會戰略與可持續發展委員會（「戰略 與可持續發展委員會」）成員及董事會審核委員會（「審核委員會」）成員；(ii)陳宏良先生將不再擔任非 執行董事及戰略與可持續發展委員會成員；(iii)宋瑋先生將不再擔任執行董事、戰略與可持續發展委 員會成員、董事會薪酬委員會（「薪酬委員會」）成員及董事會提名委員會（「提名委員會」）成員；及(iv) 彭進先生將不再擔任非執行董事及戰略與可持續發展委員會成員，上述變動均自新董事委任獲批准 之日起生效。宋瑋先生亦自2025年11月29日起終止擔任 ...

Market Overview - US stock indices rebounded overnight, with Hong Kong stocks slightly fluctuating and closing up 0.07% [1] - The economic outlook remains cautious, with half of the Federal Reserve districts reporting decreased hiring intentions, indicating potential interest rate cuts in December [2] International Relations - Trump urged Japanese Prime Minister Kishi to avoid escalating tensions regarding Taiwan, reflecting a more restrained stance from Japan [1] - French President Macron is set to visit China from December 3, aiming to improve Sino-French relations, which could benefit European relations as well [1] Consumer Sector - Pop Mart (09992) is expected to benefit from the upcoming holiday season, with a nearly 7% increase in stock price [3] - The automotive sector is seeing growth, with the Ministry of Commerce promoting reforms to boost consumption, leading to significant stock price increases for companies like Yongda Automobile (03669) [2] Technology and Innovation - Alibaba's Quark AI glasses were launched, with significant pre-sale success, leading to a 4% increase in stock price for related companies [4] - TCL Electronics is also entering the AI glasses market, contributing to a 6% rise in its stock price [4] Pharmaceutical Industry - Hansoh Pharmaceutical (03692) is advancing its innovative drug pipeline, with significant revenue growth and a strong project reserve [7] - The company reported a 22.1% year-on-year increase in sales revenue for its innovative drugs in the first half of 2025 [7] Gold Market - Deutsche Bank has raised its gold price forecast for 2026, indicating a structural bull market driven by official purchases rather than consumer demand [6] - The potential shift of cryptocurrency funds into physical gold could further boost prices, impacting related stocks [6] Clinical Trials and Drug Approvals - Hansoh Pharmaceutical has over 40 innovative drug candidates in clinical trials, with several new drugs entering Phase III trials [9] - The company has secured international partnerships for its ADC products, highlighting its growing recognition in the global market [9]

Group 1 - The core viewpoint is that Hong Kong automotive stocks are mostly rising, indicating positive market sentiment in the sector [1] Group 2 - Chery Automobile (09973.HK) increased by 3.61%, reaching HKD 31.58 [1] - GAC Group (02238.HK) rose by 3.52%, trading at HKD 3.53 [1] - Leap Motor (09863.HK) saw a 3.27% increase, priced at HKD 52.05 [1] - Beijing Automotive (01958.HK) gained 3.02%, with a share price of HKD 2.05 [1] - Xpeng Motors-W (09868.HK) experienced a 1.46% rise, now at HKD 83.3 [1]

Group 1 - The automotive stocks mostly rose, with Chery Automobile (09973) up 3.61% to HKD 31.58, GAC Group (02238) up 3.52% to HKD 3.53, Leap Motor (09863) up 3.27% to HKD 52.05, Beijing Automotive (01958) up 3.02% to HKD 2.05, and XPeng Inc. -W (09868) up 1.46% to HKD 83.3 [1] - On November 27, the State Council Information Office held a regular press conference to introduce policies aimed at enhancing the adaptability of supply and demand for consumer goods, with a focus on promoting automotive consumption [1] - The Ministry of Commerce's official stated that commodity consumption is a crucial area for promoting consumption and improving people's livelihoods, with plans to advance automotive circulation reforms, expand used car markets, and develop automotive aftermarket services [1] Group 2 - Everbright Securities released a report indicating that the end-of-year peak season and the reduction of vehicle purchase tax may lead to record high orders by the end of the year, emphasizing the importance of model cycles [1] - The firm forecasts a slight year-on-year decline in domestic passenger vehicle retail sales for 2026, while exports of new energy passenger vehicles are expected to maintain rapid growth, stabilizing overall wholesale sales for the year [1] - CITIC Construction Investment pointed out that the automotive industry has three investment directions: cyclical growth, expansion, and overseas markets, suggesting a focus on industry structure and trends rather than total domestic demand expectations as policy expectations weaken in 2026 [1]

Group 1 - The majority of automotive stocks have risen, with notable increases in Chery Automobile (up 3.61% to HKD 31.58), GAC Group (up 3.52% to HKD 3.53), and Leap Motor (up 3.27% to HKD 52.05) [1] - The State Council's policy briefing on November 27 highlighted measures to enhance the adaptability of supply and demand in consumer goods, with a focus on promoting automotive consumption through reforms in the automotive circulation market [1] - The Ministry of Commerce plans to expand the second-hand car market and develop automotive aftermarket sectors such as modifications, rentals, events, and RV camping to boost overall automotive consumption [1] Group 2 - Everbright Securities forecasts that the end of 2025 will see a peak in orders due to the reduction of vehicle purchase tax, emphasizing the importance of model cycles [1] - Citic Construction Investment notes that the automotive industry has three investment directions: cyclical growth, expansion, and internationalization, suggesting a shift in focus from domestic demand to industry structure and trends as policy expectations weaken in 2026 [1]

Group 1 - The core viewpoint of the article highlights a significant increase in Hong Kong automotive stocks, driven by government initiatives to boost automobile consumption and streamline the automotive market [1][3] - The Ministry of Commerce plans to promote reforms in automotive circulation and consumption, focusing on expanding the second-hand car market and enhancing various automotive-related sectors such as rentals and modifications [1][3] - Analysts suggest that the new policy aims to address consumer pain points throughout the automotive lifecycle, including challenges in purchasing, using, and selling vehicles, thereby stimulating consumption potential more sustainably than mere price cuts or tax reductions [1] Group 2 - GAC Group saw a stock price increase of over 4%, while other companies like Leap Motor and Beijing Automotive also experienced gains of 3.5% and 3.5% respectively [2] - Xpeng Motors reported a remarkable 149% year-on-year increase in third-quarter sales, indicating strong growth potential [3] - GAC Group announced the establishment of China's first large-capacity all-solid-state battery production line, contributing to its stock price surge [3]

Core Viewpoint - The expectation for a rate cut by the Federal Reserve in December has increased, leading to a rise in Hong Kong stock indices, with the Hang Seng Index closing up 1.97% at 25,716.5 points, and a total trading volume of 302.64 billion HKD [1] Group 1: Market Performance - The three major indices in Hong Kong collectively rose, with the Hang Seng Index gaining over 2% at one point during the day [1] - The Hang Seng Technology Index increased by 2.78%, closing at 5,545.56 points [1] - The trading volume for the day reached 302.64 billion HKD [1] Group 2: Blue-Chip Stocks - Alibaba-W (09988) saw a significant increase of 4.67%, closing at 154.5 HKD, contributing 104.44 points to the Hang Seng Index [2] - Kuaishou-W (01024) rose by 7.11%, while NetEase-S (09999) increased by 5.87%, contributing 21.51 points and 26.03 points to the index respectively [2] Group 3: Sector Performance - Technology stocks rebounded, with Kuaishou rising over 7% and NetEase nearly 6% [3] - AI applications are gaining traction, with notable increases in stocks related to AI, such as Chuangmeng Tiandi (01119) up 9.38% and Innovation Qizhi (02121) up 8.83% [3] - Military stocks performed strongly, with China Shipbuilding Defense (00317) rising by 13.07% [4] Group 4: Automotive Sector - The automotive sector saw widespread gains, with GAC Group (02238) increasing by 12.03% and Beijing Automotive (01958) rising by 5.91% [5] - The Guangzhou Auto Show featured 93 new car launches, with nearly 60% being new energy vehicles [6] Group 5: Lithium and Semiconductor Stocks - Lithium stocks continued to decline, with Ganfeng Lithium (01772) down 5.66% [7] - Semiconductor stocks showed weakness, with Hua Hong Semiconductor (01347) falling by 4.91% [7] Group 6: Notable Stock Movements - Innovation Industry (02788) debuted with a significant increase of 32.76%, closing at 14.59 HKD [9] - Silver诺医药-B (02591) surged by 31.15% after being included in the Hang Seng Composite Index [10] - Miniso (09896) faced pressure post-earnings, with a decline of 4.84% despite a revenue increase of 28.2% [11]