Core Insights - Southbound capital recorded a total transaction of 153.78 billion HKD on August 13, with a net outflow of approximately 8.28 billion HKD [1] - The Shanghai-Hong Kong Stock Connect experienced a net outflow of about 8.46 billion HKD, while the Shenzhen-Hong Kong Stock Connect saw a net inflow of around 0.18 billion HKD [1] Group 1: Significant Net Purchases - Xinda Biologics (01801.HK) had a net purchase of 709 million HKD and saw a price increase of 8.82% [1] - Li Auto-W (02015.HK) recorded a net purchase of 367 million HKD, with a price increase of 3.30% [1] - FIT HON TENG (06088.HK) experienced a net purchase of 235 million HKD and a price increase of 11.78% [1] - Xiaomi Group-W (01810.HK) had a net purchase of 176 million HKD, with a price increase of 3.00% [2] - Guotai Junan International (01788.HK) saw a net purchase of 56.18 million HKD despite a price drop of 1.47% [3] - Kuaishou-W (01024.HK) had a net purchase of 19.30 million HKD and a price increase of 4.68% [4] Group 2: Significant Net Sales - The Yingfu Fund (02800.HK) faced a net sale of approximately 6850.25 million HKD, with a price increase of 2.35% [5] - The Hang Seng China Enterprises Index (02828.HK) had a net sale of about 2311.16 million HKD, with a price increase of 2.76% [6] - Tencent Holdings (00700.HK) recorded a net sale of approximately 250.29 million HKD, with a price increase of 4.74% [7] - Alibaba Group-W (09988.HK) experienced a net sale of about 242.99 million HKD, with a price increase of 6.09% [8]

本刊记者 牛朝阁 汽车行业素有"得SUV者得天下"的说法，近半个月，两款新发布的SUV就让蔚来和理想的高管纷纷下场，近乎"贴身肉搏"。 i8、L90，口水仗不断 首先登场的是理想汽车于7月29日发布的理想i8，这是一款主打家庭用车场景的六座纯电SUV，发售价为32.18万元起。 两天后，蔚来汽车同样发布了六座纯电SUV乐道L90，主攻家庭用车，起售价为26.58万起。 值得注意的是，在乐道L90上市5天后，上市不满一周的理想i8就更改了原本的售价和配置，从原有的三个版本统一调整为单一配置，并增加少量选装，最 终定价为33.98万元。和此前的售价相比，相当于取消了最低版本配置，Max配置售价下调1万元，Ultra配置下调了2万元。 《中国经济周刊》记者 牛朝阁｜摄 这两款车发布之后，理想汽车和蔚来汽车开启了"互怼"模式。 7月24日晚间，理想汽车副总裁刘杰在微博发布一张截图，图片疑似为一用户试驾理想i8和乐道L90后的评论，称"理想i8就和坐船一样摇摇晃晃，完全没 有蔚来L90稳当"。刘杰对此表示，"i8还没有开始用户试驾""这是黑水军下一个抹黑理想i8的主要方向吗？" 8月7日，面对行业内"蔚来等企业是幕后黑 ...

Core Viewpoint - Li Auto is facing significant challenges due to intensified competition in the automotive market, leading to a slowdown in revenue growth and a decline in vehicle deliveries [1][2][6]. Financial Performance - Li Auto's projected revenue for Q2 2025 is RMB 33.5 billion, reflecting a year-over-year increase of 5.6%, but with a growth slowdown of 4.96% [4][5]. - The company's net profit for Q1 2025 was RMB 647 million, showing a year-over-year increase of 9.4% but a quarter-over-quarter decline of 81.7% [5]. - As of June 30, 2025, Li Auto's cumulative historical deliveries reached 1,337,810 vehicles, marking a year-over-year decline of 24% and a quarter-over-quarter decline of 11.2% [5][6]. Market Competition - The automotive market is experiencing a contraction in overall demand, with fierce competition in the new energy vehicle (NEV) sector, leading to stock competition for Li Auto's family-oriented models [2][9]. - Li Auto's sales performance is under pressure due to promotional campaigns and new model launches from various automakers [9]. Strategic Adjustments - Following a downward revision of its 2025 annual sales target from 700,000 units to 640,000 units, Li Auto is under increased scrutiny from investors [10][11]. - The company is pursuing breakthroughs in four strategic areas, including advancements in pure electric vehicles and autonomous driving technology [11][12]. Product Development - Li Auto plans to launch its first all-electric SUV, the Li i8, in July 2025, alongside a self-developed driver assistance model [12]. - The company is expanding its charging infrastructure, having built 2,421 charging stations with a total of 13,200 charging piles as of June 2025 [18]. Market Expansion - Li Auto is implementing a "Hundred-city Starry Plan" to establish a self-operated sales and service presence in lower-tier cities [18]. - The company is also pursuing international expansion through a dealership model, establishing after-sales service centers in markets such as Kazakhstan, Uzbekistan, and the UAE [19]. Future Outlook - Despite maintaining a leading market position, Li Auto's growth momentum is expected to decelerate further in 2025 due to intensified competition [20][21]. - The company must accelerate new product development and expand its model lineup to remain competitive in a rapidly changing market [22].

Core Viewpoint - Recent discussions about "Li Auto owners" on social media have led to misleading and attacking comments, prompting Li Auto's legal department to respond and take action against such content [1][4]. Group 1: Company Response - Li Auto's legal department has welcomed public supervision and expressed a commitment to listening to user feedback, while warning that any unlawful actions will face legal consequences [3]. - The legal department reported receiving multiple complaints from Li Auto owners regarding a surge of negative and misleading information across various online platforms, which has severely disrupted their online and offline lives [1]. Group 2: Social Media Platform Actions - Douyin (TikTok) announced that it has taken measures to address the misleading and malicious content related to Li Auto owners, in response to complaints from the company [4]. - The platform has implemented rules to manage and remove content that violates community guidelines, including marketing exploitation and personal attacks against Li Auto owners [4].

Core Viewpoint - Li Auto (LI.US) shares rose approximately 3.3% to $24.78 in pre-market trading, driven by the founder's announcement regarding the delivery targets for the Li Auto i8 model [1] Group 1: Company Performance - The founder, Li Xiang, stated that one of the targets for September is to exceed 8,000 deliveries of the Li Auto i8, with a challenge to reach 10,000 [1] - The current order volume for the Li Auto i8 indicates strong recognition from target users regarding the product's definition, which combines features of an off-road vehicle, luxury sedan handling, and MPV comfort [1] Group 2: Product Details - The Li Auto i8 has consolidated its previous three versions (Pro, Max, Ultra) into a single MAX configuration, with a final price set at 339,800 yuan [1] - Earlier this month, it was revealed that the number of small deposit users for the Li Auto i8 has exceeded 30,000 [1]

Core Viewpoint - The U.S. stock market saw a collective rise in popular Chinese concept stocks before the market opened, indicating positive investor sentiment towards these companies [1] Group 1: Stock Performance - Bilibili experienced a rise of over 5% [1] - NetEase and Kingsoft Cloud both increased by more than 4% [1] - Ctrip, Tiger Brokers, Li Auto, NIO, Futu, and Quantum Song all saw gains exceeding 3% [1] - Alibaba, Tencent Music, and Pinduoduo rose by more than 2% [1]

消息面上，8月13日下午，理想汽车官方微博发文称，从8月20日开始，理想i8的第一批交付将在全国陆 续开启。"到9月底，我们将保障超过8000台的理想i8交付到用户手中，同时我们将与供应链伙伴一起， 向10000台的交付发起挑战，争取让更多用户在国庆假期前提到新车。"随后，理想汽车创始人李想也发 文表示，9月目标之一：理想i8交付超越8000，挑战一万。 智通财经APP获悉，理想汽车-W(02015)涨超3%，截至发稿，涨3.35%，报97.2港元，成交额22.26亿港 元。 ...

消息面上，8月13日下午，理想汽车官方微博发文称，从8月20日开始，理想i8的第一批交付将在全国陆 续开启。"到9月底，我们将保障超过8000台的理想i8交付到用户手中，同时我们将与供应链伙伴一起， 向10000台的交付发起挑战，争取让更多用户在国庆假期前提到新车。"随后，理想汽车创始人李想也发 文表示，9月目标之一：理想i8交付超越8000，挑战一万。 理想汽车-W(02015)涨超3%，截至发稿，涨3.35%，报97.2港元，成交额22.26亿港元。 ...

Core Insights - Li Auto announced updated delivery timelines for its Li i8 model, with first deliveries starting on August 20 and a target of over 8,000 units by the end of September [1] - The company aims to challenge a delivery goal of 10,000 units before the National Day holiday, indicating strong demand and production capabilities [1] - Following a price adjustment, the daily order volume for the Li i8 has significantly increased, with optimistic sales forecasts from analysts [2] Group 1 - Li Auto updated the expected delivery time for the Li i8 on its official platforms, allowing confirmed customers to check the latest delivery information via the app [1] - The first batch of Li i8 deliveries is set to begin on August 20, with a commitment to exceed 8,000 units by the end of September [1] - Customers have reported changes in their delivery timelines, with some seeing their expected delivery time reduced to as little as 1-3 weeks [1] Group 2 - The Li i8 was officially launched on July 29, receiving approximately 3,000-5,000 pre-orders within the first 24 hours [1] - Following a configuration adjustment and price reduction from 369,800 to 339,800 yuan, the daily order volume has seen a notable increase [2] - Goldman Sachs maintains a positive outlook, predicting monthly sales for the Li i8 could reach 6,000 units [2]

Core Viewpoint - The article discusses the launch of the Li Auto i8, which is the first model equipped with the VLA driver model, highlighting its advancements in understanding semantics, reasoning, and human-like driving intuition [2][7]. Summary by Sections VLA Driver Model Capabilities - The VLA model enhances four core capabilities: spatial understanding, reasoning ability, communication and memory, and behavioral ability [2]. - It can comprehend natural language commands during driving, set specific speeds based on past memories, and navigate complex road conditions while avoiding obstacles [5]. Industry Trends and Educational Initiatives - The VLA model represents a new milestone in the mass production of autonomous driving technology, prompting many professionals from traditional fields to seek transition into VLA-related roles [7]. - The article introduces a new course titled "End-to-End and VLA Autonomous Driving," designed to help individuals transition into this field by providing in-depth knowledge and practical skills [21][22]. Course Structure and Content - The course covers various topics, including end-to-end background knowledge, large language models, BEV perception, diffusion model theory, and reinforcement learning [12][26]. - It aims to build a comprehensive understanding of the research landscape in autonomous driving, focusing on both theoretical and practical applications [22][23]. Job Market and Salary Insights - The demand for VLA/VLM algorithm experts is high, with salary ranges for positions such as VLA model quantization deployment engineers and VLM algorithm engineers varying from 40K to 120K [15]. - The course is tailored for individuals looking to enhance their skills or transition into the autonomous driving sector, emphasizing the importance of mastering multiple technical domains [19][41].