从中证港美上市全球智能汽车主题指数持仓样本的行业来看，乘用车占比23.02%、数字媒体占比 3.27%、光学光电子占比3.05%、汽车零部件与轮胎占比0.32%。 资料显示，指数样本每半年调整一次，样本调整实施时间分别为每年6月和12月的第二个星期五的下一 交易日。权重因子随样本定期调整而调整，调整时间与指数样本定期调整实施时间相同。在下一个定期 调整日前，权重因子一般固定不变。特殊情况下将对指数进行临时调整。当样本退市时，将其从指数样 本中剔除。样本公司发生收购、合并、分拆等情形的处理，参照计算与维护细则处理。 金融界5月12日消息，上证指数高开高走，中证港美上市全球智能汽车主题指数 (港美智能汽车， 931900)报5461.69点。 数据统计显示，中证港美上市全球智能汽车主题指数近一个月上涨8.39%，近三个月下跌10.04%，年至 今下跌9.83%。 据了解，中证港美上市全球智能汽车主题指数从中国香港和美国市场上市的证券中选取50只业务涉及感 知定位、决策规划、控制执行、智能座舱以及车联网等智能汽车相关领域的上市公司证券作为指数样 本，反映中国香港和美国市场上市的智能汽车主题上市公司证券的整体表现。该 ...

Investment Rating - The report maintains a "Recommended" investment rating for the company, indicating an expectation that the stock will outperform the market by 10% to 20% over the next six months [15]. Core Views - The launch of the L series smart upgraded models (L6, L7, L8, L9) is expected to enhance the company's market position, with stable pricing and attractive sales incentives during the initial sales period [4][6]. - The company is focusing on significant upgrades in smart driving hardware and comfort features across its new models, which include advanced laser radar and enhanced battery capacities [6][10]. - The competitive landscape for the L6 model remains favorable, while the L7, L8, and L9 models are set to face increased competition in 2025, prompting proactive product upgrades [6][9]. - The company is accelerating its overseas market expansion, targeting regions such as Latin America, Central Asia, the Middle East, and Europe, which is anticipated to become a new growth engine [9]. Financial Summary - Projected revenue growth shows a significant increase from 123.85 billion CNY in 2023 to 271.34 billion CNY by 2027, with a year-over-year growth rate peaking at 173.5% in 2023 and stabilizing around 18.6% by 2027 [5]. - Net profit is expected to rise from 11.70 billion CNY in 2023 to 23.21 billion CNY in 2027, with a notable increase of 681.7% in 2023, followed by fluctuations in subsequent years [5]. - The company's gross margin is projected to remain stable, with slight improvements from 22.2% in 2023 to 21.5% in 2027, while net margin is expected to increase from 9.5% to 8.6% over the same period [5][13]. - The report anticipates a gradual recovery in sales for the upgraded models following their launch, despite initial declines in sales volume due to competitive pressures [6][9].

Investment Rating - The report maintains a "Recommended" investment rating for the company [1]. Core Views - The launch of the L series smart upgraded models (L6, L7, L8, L9) is expected to enhance the company's market position, with stable pricing and attractive sales incentives [4][6]. - The company is focusing on upgrading its intelligent driving systems and comfort features to remain competitive in the market, particularly against new entrants in 2025 [6][9]. - The company is also accelerating its overseas market expansion, targeting regions such as Latin America, Central Asia, the Middle East, and Europe, which could become new growth engines [9]. Financial Projections - Revenue is projected to grow from 123.85 billion CNY in 2023 to 271.34 billion CNY by 2027, with a compound annual growth rate (CAGR) of approximately 30.7% in 2026 [5]. - Net profit is expected to fluctuate, peaking at 23.21 billion CNY in 2027 after a dip in 2024 [5]. - The gross margin is anticipated to stabilize around 21.5% by 2027, while the net margin is expected to improve to 8.6% [5][13]. Product Strategy - The L series models will feature significant upgrades in intelligent driving hardware, including the introduction of advanced laser radar and enhanced chip capabilities [6][7]. - The company aims to maintain a competitive edge by offering higher initial sales incentives compared to competitors, such as three years of zero interest financing and discounts on deposits [6][9]. - The MEGA model will continue to focus on its flagship positioning, with the introduction of the MEGA Home version targeting family users [9]. Market Positioning - The L6 model is expected to face less direct competition in its price range, while the L7, L8, and L9 models will see increased competition in 2025 [6][9]. - The company is strategically enhancing its product offerings to address the anticipated competitive pressures from new models entering the market [6][9].

5 月 8 日晚，理想正式发布新款 L6/L7/L8/L9，新车延续新款 MEGA 的定价策略，全系价格不变，配置上相对此前宣传的仅升级智驾硬 件有所加强，相对于老款： 1、配置升级：1）智驾：全系升级 ATL 激光雷达，AD Pro 亦增配， 智驾功能上仍为高速 NOA，主要升级了主动安全能力；AD MAX 升级 为单颗 Thor 芯片，算力 700TOPS，Pro 升级为 J6M； 2）外观内饰：新增天青色外观，内饰新增棕色配色，新增轮毂造型； 3）三电&驾控：L7/L8 Max 版本升级 52.3 度大电池，L7/L8/L9 升级 双腔闭式空悬； 4）舒适性配置：L6 Pro 限时赠送冰箱，L9 增加热石按摩同时后排 娱乐屏尺寸扩大至 21.4 英寸。 2、限时权益：3 年免息与老款保持一致；有交 5000 抵 10000 的减 免，此外还有 1 万元选装基金和赠送充电桩等。 1、整体符合预期。本次改款事实上给出了一定升级和预售权益。但 如此前所说的：1）虽然给出了一定的权益折扣存在一定幅度的回收， 具体其改款诚意、市场接受情况仍有待商榷；2）而权益目前看无法 弥补其此前大额的终端优惠，因而整体看权益仍 ...

5 月 8 日晚，理想正式发布新款 L6/L7/L8/L9，新车延续新款 MEGA 的定价策略，全系价格不变，配置上相对此前宣传的仅升级智驾硬 件有所加强，相对于老款： 1、配置升级：1）智驾：全系升级 ATL 激光雷达，AD Pro 亦增配， 智驾功能上仍为高速 NOA，主要升级了主动安全能力；AD MAX 升级 为单颗 Thor 芯片，算力 700TOPS，Pro 升级为 J6M； 2）外观内饰：新增天青色外观，内饰新增棕色配色，新增轮毂造型； 3）三电&驾控：L7/L8 Max 版本升级 52.3 度大电池，L7/L8/L9 升级 双腔闭式空悬； 4）舒适性配置：L6 Pro 限时赠送冰箱，L9 增加热石按摩同时后排 娱乐屏尺寸扩大至 21.4 英寸。 2、限时权益：3 年免息与老款保持一致；有交 5000 抵 10000 的减 免，此外还有 1 万元选装基金和赠送充电桩等。 1、整体符合预期。本次改款事实上给出了一定升级和预售权益。但 如此前所说的：1）虽然给出了一定的权益折扣存在一定幅度的回收， 具体其改款诚意、市场接受情况仍有待商榷；2）而权益目前看无法 弥补其此前大额的终端优惠，因而整体看权益仍 ...

5月8日上榜港股通成交活跃榜个股中，理想汽车-W为近一个月首次上榜。 证券时报·数据宝统计显示，5月8日港股通（包括沪市港股通及深市港股通）成交活跃股合计成交314.80 亿港元，占当日港股通成交金额的39.02%，净卖出金额36.80亿港元。 上榜的成交活跃股中，小米集团-W成交额为57.05亿港元，成交金额居首；其次是阿里巴巴-W、中芯国 际，成交金额分别为45.77亿港元、41.01亿港元。 1 105.900 4.96 （文章来源：证券时报网） 以上榜次数统计，5月8日上榜个股中，近一个月上榜次数最多的是阿里巴巴-W、美团-W等，近一个月 均上榜17次，最受港股通资金关注。 理想汽车-W为近一个月首次上榜，当日港股通成交额为21.02亿港元，成交净卖出1.34亿港元，该股当 日收盘上涨4.96%。（数据宝） 5月8日港股通成交活跃股榜单 | 证券代 | 证券简称 | 成交金额（亿 | 净买入金额（亿 | 近一个月上榜 | 最新收盘价 | 日涨跌幅 | | --- | --- | --- | --- | --- | --- | --- | | 码 | | 港元） | 港元） | 次数 | （港元） | ...

此外，5月7日早间，国务院新闻办公室举行新闻发布会，会上公布了一系列重磅政策。此次公布的系列 政策主要涉及股市、楼市、实体经济。 万联证券表示，此次会议公布的一系列政策，有利于提振股市、楼市以及实体经济，有利于居民资产端 修复和负债端压力缓解，从而增强居民的消费能力，有利于服务和养老消费市场的发展。随着政策持续 落地和显效，预计消费行业还会进一步回暖。 （本文机构观点来自持牌证券机构，不构成任何投资建议，亦不代表平台观点，请投资人独立判断和决 策。） 5月8日，港股主要指数集体低开，中证港股通消费主题指数开盘迅速翻红。热门ETF中，港股消费ETF （159735）低开高走盘中翻红，截至发稿上涨0.25%。 成分股方面，理想汽车-W涨近2%，思摩尔国际、滔搏、泡泡玛特、雅迪控股、金沙中国有限公司、美 团-W、吉利汽车等多股涨超1%。 港股消费ETF（159735）跟踪中证港股通消费主题指数，该指数选取港股通范围内流动性较好、市值较 大的50只消费主题相关股票组成指数样本，采用自由流通市值加权，以反映港股通内消费类股票的整体 表现。 消息面上，5月7日，广东省人民政府办公厅印发《广东省提振消费专项行动实施方案》（ ...

2025 年 05 月 05 日 理想汽车-W(02015.HK) 4 月销量符合预期，焕新版上市在即、销量拐点可期 事件：理想汽车发布公告，4 月交付量 3.4 万台，同比+32%，环比-7%。 4 月销量环比小幅下滑预计受终端需求与新老款交替影响，焕新版上市 在即、销量有望迎来向上拐点。 1） 我们认为公司 4 月交付量同比提升主要系去年同期 L6 未开启大规模 交付；环比下滑预计系虽 4 月终端购车优惠及 3 年 0 息金融方案延续对销 量有拉动作用，但老款开始清库（L 系列老款部分配置、MEGA 老款下架）， 新老款交替对 4 月销量产生一定影响。 2） MEGA 焕新版销量有望持续突破：4 月 23 日，理想 MEGA Ultra 焕新版 &Home 家庭特别版正式上市，其中 Ultra 焕新版升级 ATL 全天候激光雷达、 Thor-U 芯片、副驾准零重力皇后座、21.4 英寸后舱娱乐屏等，Home 版在 此基础上升级了零重力旋转座椅、前排静音电关门等，产品力均有大幅提 升；同时随着超充站布局日益完善（截至 4 月底已布局超充站 2267 个、充 电桩 12340 个）、产品口碑逐渐积累、营销思路 ...

Group 1 - The core viewpoint of the article highlights the performance of the China Securities Index for Hong Kong-listed tradable mainland consumption, which has seen a recent increase of 0.57% to 1230.76 points, despite a decline of 8.09% over the past month [1] - The index has shown a year-to-date increase of 8.81% and a three-month increase of 7.24%, indicating a positive trend over a longer period [1] - The index is part of a series that includes HKT Hong Kong real estate, HKT mainland consumption, and HKT mainland banking, reflecting the overall performance of related thematic securities in the Hong Kong market [1] Group 2 - The top ten holdings of the index include BYD Company (12.92%), Alibaba-W (12.58%), JD Group-SW (8.05%), Trip.com Group-S (7.63%), Meituan-W (7.32%), Pop Mart (4.52%), Xpeng Motors-W (3.96%), Li Auto-W (3.96%), Yum China (3.88%), and Anta Sports (3.65%) [1] - The index's holdings are entirely composed of securities listed on the Hong Kong Stock Exchange, with the passenger vehicles and parts sector accounting for 29.45%, consumer services for 23.30%, and retail for 21.88% [2] - The index samples are adjusted biannually, with changes implemented on the next trading day following the second Friday of June and December, ensuring that the weight factors are updated accordingly [2]

香港交易所信息显示，德意志银行在理想汽车-W的持股比例于4月14日从17.03%降至16.70%。 ...