股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年11月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 廣州汽車集團股份有限公司(於中華人民共和國註冊成立的股份有限公司) 呈交日期: 2025年12月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | A | | | 於香港聯交所上市 (註1) 否 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 601238 | 說明 | A股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 7,383,697,595 | RMB | | 1 RMB | | 7,383,697,595 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 7,383,697,595 | RMB | | 1 RMB | | 7,383,697,595 ...

Market Overview - The Hong Kong stock market experienced a decline, with the Hang Seng Index falling 1.28% to close at 25,760.73 points, marking a loss of 334.32 points. The total trading volume was 164.36 billion HKD [1] - The Hang Seng China Enterprises Index dropped 1.68% to 9,028.55 points, while the Hang Seng Tech Index fell 1.58% to 5,534.92 points [1] Blue Chip Performance - Techtronic Industries (00669) led the blue-chip stocks, rising 3.15% to 94.9 HKD, contributing 6.66 points to the Hang Seng Index. Citigroup initiated a 30-day positive catalyst observation for the company [2] - Other notable blue-chip movements included WH Group (00288) up 1.8% to 8.47 HKD, while China Life (02628) fell 3.59% to 26.32 HKD, dragging the index down by 11.43 points [2] Sector Highlights - Precious metals and copper-aluminum sectors saw gains amid rising expectations for Federal Reserve interest rate cuts. Bitcoin reached a two-week high, boosting some cryptocurrency stocks [3] - The automotive sector continued to decline, with companies like XPeng Motors (09868) down 4.25% and GAC Group (02238) down 2.35%, reflecting weak market demand [4] Cryptocurrency Stocks - Several cryptocurrency-related stocks rose, including Boyaa Interactive (00434) up 5.19% and New Horizon Health (01611) up 2.3%, driven by increasing Bitcoin prices and a shift in institutional attitudes towards cryptocurrency [4] New Listings - Two new stocks debuted, with Lemo Technology (02539) surging 36.25% to 54.5 HKD, and Jinyan Kaolin New Materials (02693) rising 2.19% to 7.46 HKD. Lemo Technology is ranked first in the Chinese massage service market by transaction volume [5][6] Notable Corporate Announcements - Longpan Technology (02465) saw a significant increase of 12.21% to 16.54 HKD after announcing a long-term procurement agreement with Sunwoda for lithium iron phosphate cathode materials, expected to generate sales of approximately 4.5 to 5.5 billion CNY [7] - China Pacific Insurance (02328) continued to decline, down 4% to 17.04 HKD, amid rumors regarding the status of its executives [9]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年11月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 廣州汽車集團股份有限公司(於中華人民共和國註冊成立的股份有限公司) 呈交日期: 2025年12月3日 I. 法定/註冊股本變動 FF301 第 1 頁 共 10 頁 v 1.1.1 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | 股份類別 A | | 於香港聯交所上市 (註1) | 否 | | | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 601238 | 說明 A股 | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | 已發行股份總數 | | | 上月底結存 | | 7,368,897,741 | | 14,799,854 | | 7,383,697,595 | | 增加 / 減少 (-) | | | 0 | 0 | | | | 本月底結存 | | 7,368,897,741 | | 14,799,85 ...

Core Insights - The article highlights the top and bottom AH share premium rates as of December 3, with Northeast Electric (00042) leading at a premium rate of 900.00% [1][2]. Group 1: Top AH Share Premium Rates - Northeast Electric (00042) has the highest premium rate at 900.00% with H-share priced at 0.270 HKD and A-share at 2.25 CNY [2]. - Hongye Futures (03678) follows with a premium rate of 276.85%, H-share at 3.240 HKD and A-share at 10.19 CNY [2]. - Sinopec Oilfield Service (01033) ranks third with a premium rate of 265.79%, H-share at 0.760 HKD and A-share at 2.32 CNY [2]. Group 2: Bottom AH Share Premium Rates - Contemporary Amperex Technology (03750) has the lowest premium rate at -4.88%, with H-share priced at 473.600 HKD and A-share at 376.08 CNY [2]. - China Merchants Bank (03968) has a premium rate of -0.25%, H-share at 51.650 HKD and A-share at 43.01 CNY [2]. - Heng Rui Medicine (01276) follows with a premium rate of 1.71%, H-share at 71.800 HKD and A-share at 60.97 CNY [2]. Group 3: Premium Deviation Values - Guanghe Communication (00638) has the highest deviation value at 49.00% [1][3]. - Northeast Electric (00042) also features prominently with a deviation value of 36.60% [1][3]. - Chenming Paper (01812) ranks third with a deviation value of 26.74% [1][3]. Group 4: Bottom Premium Deviation Values - GAC Group (02238) has the lowest deviation value at -26.76% [1][3]. - Junsheng Electronics (00699) follows with a deviation value of -18.54% [1][3]. - Jiangsu Ninghu Highway (00177) has a deviation value of -15.01% [1][3].

瑞银发布研报称，多家车企公布今年11月销量，环比大多持平或下滑。理论上11月属行业旺季，会受 2026年潜在政策退坡前的提前购车效应推动，但市场却显现更多走弱迹象，这加剧了市场对2026年车市 需求前景的担忧。瑞银对行业短期前景愈发谨慎，因市场需求走弱速度超预期，明年风险信号增多。 汽车股尾盘跌幅扩大，截至发稿，小鹏汽车-W(09868)跌4.32%，报75.35港元；长城汽车（601633） (02333)跌2.57%，报14.41港元；北京汽车(01958)跌2.28%，报2.14港元；广汽集团（601238）(02238)跌 2.12%，报4.16港元。 海通国际表示，年末冲刺阶段的格局分化进一步加剧，翘尾效应也明显弱于往年。随著两新政策补贴基 本退出，销量增速趋缓甚至下滑的态势恐难以逆转。车企年终冲刺更考验销量与盈利之间平衡。 ...

Group 1 - The automotive stocks experienced a significant decline, with Xpeng Motors down 4.32% to HKD 75.35, Great Wall Motors down 2.57% to HKD 14.41, Beijing Automotive down 2.28% to HKD 2.14, and GAC Group down 2.12% to HKD 4.16 [1] - Haitong International noted that the year-end rush is showing increased divergence, with the tail effect being significantly weaker than in previous years. The exit of new policy subsidies is expected to lead to a slowdown or even decline in sales growth, making it difficult to reverse this trend [1] - UBS reported that several automakers announced their November sales, which mostly remained flat or declined month-on-month. November is typically a peak season for the industry, but signs of market weakness are emerging, raising concerns about demand prospects for the automotive market in 2026 [1] Group 2 - The market is showing more signs of weakness, leading UBS to adopt a more cautious outlook on the short-term prospects for the industry, as the pace of weakening demand is exceeding expectations, with increasing risk signals for next year [1]

Core Viewpoint - The Hong Kong stock market is experiencing a strong atmosphere, with the automotive sector, particularly GAC Group (02238), being a focal point as its stock price has significantly surged, indicating active capital inflow [1]. Group 1: Stock Performance - GAC Group's stock price reached 4.24 HKD, rising by 7.07%, with a trading volume of 578 million HKD, indicating strong investor interest [1]. - The stock price has moved well above the 10-day, 30-day, and 60-day moving averages, which are 3.59 HKD, 3.42 HKD, and 3.38 HKD respectively, showing a robust upward trend [1]. - The Relative Strength Index (RSI) for GAC has reached 77, entering the overbought territory, which typically signals a potential need for consolidation or pullback [1]. Group 2: Technical Analysis - Despite the overbought condition indicated by the RSI, other technical indicators show strong upward momentum, with the Moving Average Convergence Divergence (MACD) providing a clear buy signal [1]. - The Ichimoku Cloud and Bollinger Bands analysis also suggest a buying opportunity, indicating that the upward trend may not be over yet [1]. - Key support levels have shifted upwards to 3.7 HKD, with stronger support at 3.45 HKD, while resistance levels are initially at 4.6 HKD, with potential targets of 4.99 to 5.00 HKD if the stock breaks through [1]. Group 3: Derivative Market - The warrants market has seen early capital capturing GAC's upward movement, with a notable example being Huatai's call warrant (21759), which recorded an 11% increase over two days, outperforming the underlying stock's 1.93% rise [3]. - Several warrant products are available for investors to deploy in response to potential market volatility, with a focus on two call warrants: Macquarie's (22473) and JPMorgan's (19634), both with a strike price of 4.99 HKD [5]. - The current leverage offered by these products is relatively conservative, reflecting expectations of increased short-term volatility in the underlying stock [12].

Market Overview - Hong Kong stocks opened higher but closed lower, with the Hang Seng Index rising 0.24% to 26,095.05 points and a total turnover of 178.25 billion HKD [1] - The Hang Seng Tech Index fell 0.37% to 5,624.04 points, while the Hang Seng China Enterprises Index increased by 0.11% to 9,182.65 points [1] Blue Chip Performance - Galaxy Entertainment (00027) led blue-chip stocks, rising 2.81% to 40.98 HKD, contributing 3.88 points to the Hang Seng Index [2] - Other notable blue-chip performers included Hengan International (01044) up 2.69% and Budweiser APAC (01876) up 2.35% [2] - WuXi AppTec (02359) fell 3.13%, negatively impacting the index by 2.2 points [2] Sector Highlights - Macau's November gaming revenue reached 21.09 billion MOP, a 14.4% year-on-year increase, exceeding market expectations [4] - The mobile phone supply chain remained active, with notable gains in companies like AAC Technologies (02018) and BYD Electronics (00285) [4][5] - The automotive sector showed mixed results, with BYD (01211) up 2.19% while Xpeng Motors (09868) fell 5.52% [5][6] Notable Stock Movements - Conant Optical (02276) surged 10.58% to 54.85 HKD following the launch of AI glasses in collaboration with Alibaba [8] - Giga Biotech (02367) rose 8.53% after announcing a share buyback plan [9] - GAC Group (02238) increased by 7.32% due to positive management announcements regarding new battery technology and partnerships [10] - Longpan Technology (02465) saw a 4.1% increase amid industry price adjustments in lithium iron phosphate [11] - 3SBio (01530) faced pressure, dropping 4.61% after announcing a share placement to raise capital [12]

北京商报讯（记者 蔺雨葳）12月1日，由京东、广汽集团、宁德时代共同推出的埃安UT super在京举办 了第1000名车主交付仪式，标志着该车型正式迈入规模化交付新阶段。据了解，目前交付的1000辆埃安 UT super中，有990辆来自线上订单。 ...

Group 1 - The top three companies with the highest AH premium rates are Northeast Electric (00042) at 900.00%, Hongye Futures (03678) at 272.78%, and Sinopec Oilfield Service (01033) at 262.34% [1] - The bottom three companies with the lowest AH premium rates are CATL (03750) at -5.04%, China Merchants Bank (03968) at -0.84%, and Heng Rui Medicine (01276) at 2.24% [1] - The companies with the highest deviation values are Guanghe Tong (00638) at 43.63%, Northeast Electric (00042) at 37.21%, and Beijing Jingcheng Machinery Electric (00187) at 23.54% [1] Group 2 - The top ten AH stocks by premium rate include Zhejiang Shibao (01057) at 261.04%, Beijing Jingcheng Machinery Electric (00187) at 247.49%, and Chenming Paper (01812) at 244.44% [1] - The bottom ten AH stocks by premium rate include Weichai Power (02338) at 5.66%, Midea Group (00300) at 8.00%, and Zijin Mining (02899) at 8.86% [2] - The top ten AH stocks by deviation value also include Dazhong Public Utilities (01635) at 17.92% and Shandong Xinhua Pharmaceutical (00719) at 12.79% [2]