每经编辑｜陈鹏程 王晓波 1 李强主持召开国务院常务会议 国务院总理李强6月27日主持召开国务院常务会议，听取关于贯彻落实全国科技大会精神加快建设科技强国情况的汇报，部署健全"高效办成一件事"重点事 项常态化推进机制，审议通过《农村公路条例（草案）》。（新华社） 2 隔夜市场 美股三大指数集体收涨，道指涨1%，本周累涨3.82%；标普500指数涨0.52%，本周累涨3.44%；纳指涨0.52%，本周累涨4.25%，其中，标普500指数、纳 指均创历史新高；大型科技股多数上涨，谷歌、亚马逊涨超2%，英伟达、Meta涨超1%，苹果、英特尔小幅上涨；特斯拉、微软小幅下跌；耐克涨超15%， 创四年来最大单日涨幅。中概股涨跌不一，纳斯达克中国金龙指数涨0.22%，本周累涨3.49%；小马智行跌超6%，理想汽车、富途控股跌超1%，百度、京东 小幅下跌；传奇生物、瑞幸咖啡涨超3%，哔哩哔哩、腾讯音乐、唯品会涨逾2%，蔚来、联电涨超1%，霸王茶姬、阿里巴巴小幅上涨。 国际金价走低，现货黄金跌1.63%，报3273.34美元/盎司；COMEX黄金期货跌1.85%，报3286.10美元/盎司；COMEX白银期货跌2.06%，报3 ...

Group 1 - Beijing Stone Century Technology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with joint sponsors being JPMorgan and CITIC Securities [2] - OmniVision Technologies, Inc. has also submitted a listing application to the Hong Kong Stock Exchange [3] - Shenzhen Dapu Microelectronics Co., Ltd. has become the first unprofitable company to have its IPO application accepted by the Shenzhen Stock Exchange [4] Group 2 - Xiaomi's founder Lei Jun stated that the orders for the Xiaomi YU7 exceeded their most optimistic expectations, but they will not disclose the 24-hour sales figures [6] - Xiaomi responded to rumors regarding a former director, clarifying that the individual was a kitchen worker and had never held a director position [6] - Dongfeng Nissan's executive apologized for inappropriate comments regarding Xiaomi YU7, stating he has reflected deeply and deleted the related content [6] Group 3 - Romoss and Anker have initiated recalls of certain batches of power banks, with Romoss recalling nearly 500,000 units and Anker recalling approximately 710,000 units [7] - Crocs faces a class-action lawsuit in the U.S. over its shoes' risk of shrinking and deforming under high temperatures, with claims that the company did not adequately disclose this defect [7] Group 4 - Intel's former CEO Pat Gelsinger discussed the difficulty of his resignation, indicating it was a decision made by a "third party" [8][9] - Ideal Automotive has restructured its sales system, with President Ma Donghui now fully responsible for R&D, supply chain, and sales [13] Group 5 - The new Anti-Unfair Competition Law will take effect on October 15, 2025, aiming to enhance market competition order and address new issues arising from rapid economic development [12] - Alibaba Group reported a revenue of 996.347 billion yuan and a net profit of 125.976 billion yuan for the fiscal year 2025, marking a 77% year-on-year increase [17]

美股三大股指集体高开 耐克涨近12% 智通财经6月27日电，美股三大股指集体高开，道指涨0.27%，标普500指数涨0.16%，纳指涨0.24%。耐 克涨近12%，其季度营收盈利均超预期。理想汽车跌2.8%，公司下调第二季度交付指引。 ...

Macro Dynamics - China has maintained normal trade relations with Iraq and aims for sustained peace in the Middle East, as stated by the Foreign Ministry [2] - The Ministry of Finance reported a 2.8% year-on-year decline in profits for state-owned enterprises from January to May 2025, with total profits amounting to 1651.45 billion yuan [3][4] - The asset-liability ratio of state-owned enterprises increased by 0.2 percentage points to 65.1% by the end of May 2025 [4] Financial Institutions - CITIC Trust has won the bid for bankruptcy restructuring service trusts for Jinke Property and Chongqing Jinke, with an expected scale exceeding 150 billion yuan, marking a significant case in the domestic real estate sector [7] Market Data - On June 27, the Shanghai Composite Index fell by 0.7%, while the Shenzhen Component Index rose by 0.34% and the ChiNext Index increased by 0.47%. The total trading volume was approximately 1541.12 billion yuan [9] - The Hang Seng Index decreased by 0.17%, and the Hang Seng Tech Index fell by 0.07% on the same day [10] Company Dynamics - Xiaomi responded to rumors regarding a former director, clarifying that the individual had only worked briefly in the company’s cafeteria and never held a director position [11] - Innovent Biologics' injection for long-term weight control has been approved by the National Medical Products Administration, targeting adults with a BMI of 28 or higher [12][13] - Li Auto has revised its delivery forecast for the second quarter of 2025 to approximately 108,000 vehicles, down from a previous estimate of 123,000 to 128,000 vehicles [14] - Lakala is in communication with the Hong Kong Monetary Authority regarding the potential application for a stablecoin license [15] - JD Logistics reported a significant increase in sales of two-wheeled electric vehicles during the "618" shopping festival, with sales rising over 300% [16]

【导读】港股收跌，有色板块逆市上涨 见习记者 储是 6月27日，截至收盘，恒生指数下跌0.17%，收于24284.15点；恒生科技指数下跌0.07%，收于5341.43点；恒生国企指数下跌0.47%，收于8762.47点。 盘面上，汽车、医药、银行等个股走弱，有色股走强。 小米集团走高 汽车股、银行股走低 截至6月27日收盘，小米集团-W上涨3.6%。汽车股普遍走低，小鹏汽车-W、蔚来-SW、比亚迪股份分别下跌3.17%、1.84%、1.19%。 | 比亚迪股份 | | -1.19% | 11203.25亿 | | --- | --- | --- | --- | | 理想汽车-W 「 | | -1.78% | 2367.82亿 | | 吉利汽车 | | 0.00% | 1611.44亿 | | 福耀玻璃 | www | -0.70% | 1602.58亿 | | 小鹏汽车-V | | -3.17% | 1368.66亿 | | 长城汽车 | | 0.66% | 1051.04亿 | | 零跑汽车 | | -0.53% | 746.70亿 | | 广汽集团 | | 0.35% | 686.30亿 | | 蔚来- ...

则高估版本的理想6.1-15号上险量为1717+8270+7874=17861。 则剩余15天，理想周均上险需要维持在(48205-17861)/15*7=14160的水平。 理想历史上仅有6次周上险超13000，3次周上险超14000，历史最高两周上险之和是28020。 分 别 是 24 年 12 月 9-29 日 ， 三 周 上 险 分 别 为 14100/13920/13400 。 24 年 10 月 7-13 日 的 13400,24年9月23-29日的14160，23年12月25-31日的14100。 可以看到仅在24年12月实现过连续两周周上险超13000，即连续两周周上险14160*2=28320， 需要月均有5.8-6.0以上销量的基本面。25年6月的理想不具备这个基本面，将无法完成25Q2交 付指引下限。 2025年6月17日，TOP2发文《 预计理想将无法完成25Q2交付指引下限 》，当时给的判断依据为 理想给的25Q2交付指引为123000-128000，4月交付33939,5月交付40856。即6月交付指引 为48205-53205。 25年 5.26-6.1/6.2-8/6.9-15 ...

6月27日，理想汽车宣布组织架构调整，将研发与供应、销售与服务群组整合为"智能汽车群组"，由总裁 马东辉担任负责人，向CEO李想汇报。 李想将继续负责产品线、品牌等团队，并聚焦AI领域投入。 微信编辑 | 龙王 ...

智通财经6月27日电，港股收盘，理想汽车发布公告更新2025年第二季度交付量指引。受到地方补贴退 坡、新车密集上市、"以价换量"导致的市场观望情绪加剧等影响，20万以上中高端车市场大盘增长失 速，豪华品牌销量同比大幅下滑。理想汽车预计2025年第二季度交付量为10.8万辆。李想表示纯电SUV 理想i8上市前完成销售体系升级，支持纯电产品销售，预计随着7月和9月两款纯电SUV完成上市，品牌 销量将进一步回升，冲击销量新高。 理想汽车：销售组织调整升级 更新Q2交付目标 ...

文 | 李安琪 编辑 | 李勤 杨轩 昨夜，小米新车如核弹一般，创下了YU7 3分钟20万大定的惊人成绩。在YU7的滔天巨浪下，已经有同 行连夜进入了"战争模式"。 36氪汽车独家获悉，6月27日，理想汽车发布内部公告，宣布新的人事任命，理想汽车总裁马东辉即日 起全面负责研发、供应制造、销售业务，向CEO李想汇报。 小米汽车YU7在一夜之间完成了全年销量KPI，这不仅威胁了市场上的纯电SUV常青之王——特斯拉 Model Y，理想的两款纯电SUV i6与i8，也同样在YU7射程范围之内。 不仅纯电，理想的基本盘增程L系列在今年以来，也受到了问界、腾势、领克、深蓝等同行们的集体跟 风与"致敬"。 然而，现实的市场竞争恐怕更残酷。据36氪汽车了解，理想汽车还将下调二季度的销量目标。在今年一 季度，理想交付了9.28万辆车，还计划二季度交付12.3-12.8万辆车，如今该计划有了变动。 不过年初的变动只涉及决策层，不涉及实体架构变动。此次调整后，马东辉将从组织架构上，更加深度 参与整车的产、供、销环节。 而理想销售与服务高级副总裁邹良军，此前向CEO李想汇报，调整后邹良军继续担任销服业务顾问。 另外，邹良军管辖的出 ...

智通财经6月27日电，理想汽车调整组织架构和人事任命，将原"研发与供应群组"和"销售与服务群 组"整合并入新成立的"智能汽车群组"，对理想汽车智能汽车业务的战略到经营闭环负责；总裁马东辉 将担任智能汽车群组的负责人，向董事长兼CEO李想汇报。李想仍将负责汽车相关业务，并将更多精力 投入AI领域。 (智通财经记者 魏勇猛) 理想汽车整合成立智能汽车群组 总裁马东辉将担任负责人 ...