Core Insights - The collaboration between Bozhigang and Leap Motor signifies the provision of high-quality charging services for Leap Motor's overseas models, starting with the B10, set to launch in late 2025 [2] - Bozhigang will offer in-depth information services including charging dynamic/static data, rates, speed, and connector types to enhance the user experience for overseas car owners [2] - The partnership aims to alleviate users' charging anxiety and improve travel satisfaction, supporting Chinese automotive companies in global smart mobility innovation [2] Summary by Categories Company Collaboration - Bozhigang will provide charging services for Leap Motor's overseas vehicle models, enhancing the global ownership experience [2] - The partnership is positioned as a starting point for Bozhigang to leverage its global data and service advantages [2] Service Features - The services will include regular updates and monitoring of charging rate data to maximize coverage [2] - The technology will highlight the most cost-effective charging rates on the vehicle's screen and assist owners in accessing member rewards and exclusive benefits [2] Market Impact - The collaboration is expected to support Leap Motor's rapid development in the competitive overseas market [2] - Bozhigang aims to contribute to the continuous innovation of Chinese automotive companies within the global smart mobility ecosystem [2]

Group 1 - The overall automotive market in September showed a growth trend, with several companies reporting increased sales figures [1][2][3] - Sales of Seres New Energy vehicles reached 44,700 units in September, marking a year-on-year increase of 19.44%, with cumulative sales for the first nine months reaching 304,600 units [1] - Great Wall Motors reported total sales of 133,600 units in September, a year-on-year increase of 23.29%, while SAIC Group sold 440,000 vehicles, achieving a 40.4% year-on-year growth [2] Group 2 - BYD's total sales reached 396,000 units in September, with passenger car sales at 393,000 units and overseas sales hitting 71,000 units, a 107% increase year-on-year [3] - NIO delivered 34,749 vehicles in September, reflecting a 64% year-on-year growth, with significant contributions from its new brand [4] - The market is characterized by a "new energy-driven growth" pattern, with traditional automakers accelerating their transition to electric vehicles while new entrants leverage technological advantages [3][4] Group 3 - The upcoming peak season for car purchases is expected to benefit companies like Seres, which anticipates a new growth peak in the fourth quarter due to the synergy of its product matrix and new product deliveries [2] - Industry experts warn that after the peak season, companies should prepare for a potential downturn in the first quarter of the following year, with expectations of reduced demand due to policy changes [4]

Core Viewpoint - The automotive market is experiencing significant growth driven by consumer demand for new energy vehicles (NEVs) and favorable policies, despite some regional challenges in vehicle replacement subsidies [2][5][8] Market Performance - During the National Day and Mid-Autumn Festival holiday, major auto shows in cities like Suzhou, Nanjing, and Guangzhou showcased thousands of models, leading to increased sales and transaction amounts [1][4] - In September, passenger car sales showed steady year-on-year growth, with NEVs becoming mainstream, while sales performance varied significantly among different automakers [5][6] Policy Impact - The upcoming restoration of the vehicle purchase tax for NEVs starting January 1, 2026, has prompted automakers like NIO, Zeekr, and Li Auto to introduce tax difference subsidy policies to encourage consumer purchases [2][3] - Some regions have seen a decline in customer traffic and sales due to the suspension of vehicle replacement subsidies, leading to a more cautious consumer sentiment [2][3] Sales Trends - In September, the overall passenger car market grew, but there was a notable divergence in sales among different brands, with domestic brands and new energy vehicle manufacturers showing varied performance [5][6][7] - Shanghai Automotive Group led with sales of 439,800 units, a 40.39% increase, while BYD's sales fell by 5.5% to 396,300 units, marking its first monthly decline since March 2024 [6][7] New Energy Vehicle Segment - New energy vehicle sales are becoming a focal point, with companies like Zhejiang Leapmotor achieving a 97% year-on-year increase in sales, while others like Li Auto faced a 36% decline [7][8] - The overall performance of joint venture brands in September showed stable sales for traditional fuel vehicles but struggled in the NEV segment, highlighting a slower transition to electric models [8] Future Outlook - Industry experts remain optimistic about the automotive market's trajectory, anticipating a moderate recovery in October sales due to holiday demand and year-end promotions [8] - Projections indicate that by 2025, China's NEV sales could reach 15.78 million units, with a penetration rate of 53.7% [8]

瑞银发表报告指，将零跑汽车(9863.HK)评级由"沽售"升至"中性"，目标价由25港元大幅上调至72港 元。该行指，此前曾担忧电动车市场竞争加剧及持续的成本管控执行力，但零跑强劲的月度销售动能缓 解了有关顾虑，预期强劲销量增长将持续至年底。由于销售动能强劲，该行将零跑2025至27年度各年销 售预测分别上调至60万、90万及100万辆，并更新净利润预测至7.27亿元、33亿元及50亿元人民币。 ...

Core Insights - Multiple electric vehicle brands reported their September sales figures, with Leap Motor achieving a record delivery of 66,657 vehicles, marking a year-on-year growth of over 97% [1] - Xpeng Motors followed closely with a delivery of 41,581 vehicles in September, a year-on-year increase of approximately 95% [2] - NIO delivered 34,749 vehicles in September, reflecting a year-on-year growth of 64% [2] - Li Auto maintained its leading position in the SUV market above 200,000 yuan, with a total delivery of 33,951 vehicles in September [3] Company Performance - Leap Motor's total deliveries from January to September reached 395,516 vehicles, representing a year-on-year increase of 128.8% [1] - Xpeng Motors achieved a cumulative delivery of 313,196 vehicles in the first nine months of the year, showing a year-on-year growth of approximately 218% [2] - NIO's cumulative deliveries reached 872,785 vehicles, with the NIO brand accounting for 762,176 vehicles [2] - Li Auto's total cumulative deliveries reached 1,431,021 vehicles as of September 30, 2025 [2] Market Trends - The overall retail market for narrow passenger vehicles in September is estimated at around 2.15 million units, with a month-on-month growth of 6.5% and a year-on-year growth of 2.0% [5] - The retail sales of new energy vehicles are expected to reach approximately 1.25 million units, with a penetration rate of 58.1% [5] - The market is anticipated to enter a new phase of rapid growth for new energy vehicles, driven by the release of new models and increasing consumer interest [5]

Core Insights - The domestic automotive market in September 2025 shows a dual trend of growth in both new energy and traditional fuel vehicles, with significant competition among new energy brands and a structural recovery in fuel vehicles [1][6][11] New Energy Vehicle Market - Leap Motor achieved a record monthly delivery of 66,657 units in September, marking a 97% year-on-year increase and becoming the top new energy brand [2] - Other leading new energy brands, such as Hongmeng Zhixing and Xiaopeng, also reported monthly deliveries exceeding 40,000 units, indicating a heightened competitive threshold in the market [2][4] - Xiaomi's automotive division has raised its annual delivery target from 300,000 to 350,000 units, with over 250,000 units delivered by September [2] Traditional Fuel Vehicle Market - The fuel vehicle market is experiencing a structural recovery, with approximately 9 models selling over 10,000 units in September, accounting for about 20% of total fuel vehicle sales [6][10] - Notable models like the Nissan Sylphy and CR-V are capitalizing on family user needs, with competitive fuel efficiency [9] - Traditional automakers are seeing growth in their new energy models, with Changan and Chery reporting significant year-on-year increases in sales [4][5] Market Dynamics - The fuel vehicle market is becoming increasingly concentrated, with a few top models dominating sales, leading to challenges for smaller brands [10][11] - The recovery of fuel vehicles is supported by price reductions and policy incentives, which have stimulated demand [7][9] - Future competitiveness for fuel vehicles will depend on their ability to innovate and differentiate in terms of technology and user experience, rather than relying solely on price competition [11][12]

FF301 備註： 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9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: 浙江零跑科技股份有限公司 呈交日期: 2025年10月8日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 其他類別 (請註明) | | | 於香港聯交所上市 (註1) | | 否 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | N/A | 說明 | 內資股 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | | 法定/註冊股本 | | | 上月底結存 | | | 290,765,512 | RMB | | | 1 RMB | | | 290,765,512 | | 增加 / 減少 (-) | | | | | | | RMB | | | | | 本月底結存 | | | 290,765,512 | RMB | | | 1 RM ...

Group 1 - Leap Motor will launch sales in Brazil in early November, starting with 36 dealerships in major cities, featuring models B10 and C10 imported from China [2] - Tesla has introduced a new version of Model Y priced at $39,990, approximately 11% cheaper than the previous base model, to counter the impact of the cancellation of U.S. electric vehicle subsidies [2] - Aston Martin has unveiled its new flagship model DB12 S, which is part of a strategy to diversify its product lineup, featuring upgrades aimed at enhancing the driving experience [2]

Core Viewpoint - The article highlights various marketing strategies and initiatives taken by different automotive brands in China during September 2025, showcasing how they leverage significant events and collaborations to enhance brand visibility and consumer engagement [4][5][6]. Group 1: Red Flag's Marketing Strategy - Red Flag's actions during the 93rd National Day parade included returning nearly 80 ceremonial cars to their owners, accompanied by a thank-you letter and a detailed vehicle inspection, which fostered a sense of pride among car owners [4][5]. - The brand's approach of combining emotional marketing with tangible actions has created a strong connection between the owners and the Red Flag brand, setting it apart from competitors who also attempted to capitalize on the event [5][6]. Group 2: Deep Blue's Brand Positioning - Deep Blue launched a promotional video titled "Running Chinese Cars," which honored 27 automotive brands while subtly positioning itself, emphasizing the collective growth of the Chinese automotive industry [6][9]. - The marketing strategy reflects a shift from aggressive competition to a more collaborative approach, aligning with the brand's new identity as a state-owned enterprise [9][10]. Group 3: Zeekr's Global Outreach - Zeekr hosted a "Global First Luxury Electric Car Diplomat Experience" event, inviting diplomats from 40 countries to experience its vehicles, aiming to establish a strong association with luxury and enhance its global presence [11][12]. - The event generated significant online engagement, with related topics on social media reaching over 210 million views, indicating a successful branding effort [14]. Group 4: NIO Day 2025 - NIO Day 2025 focused on the theme of "Growth," involving extensive user participation in creating a song and documentary, which reflects the brand's commitment to community and user engagement [15][17]. - The event was strategically timed to address year-end sales pressures and improve brand perception amidst challenges faced earlier in the year [17][18]. Group 5: Lantu's Cultural Integration - Lantu's "Era Fashion Night" showcased its vehicles in a culturally rich setting, emphasizing the integration of Chinese aesthetics with modern technology, aiming to establish a unique brand identity [19][20]. - The event highlighted Lantu's commitment to creating a luxury brand that resonates with Chinese cultural values, which is crucial in a competitive high-end market [22]. Group 6: Li Auto's Brand Evolution - Li Auto announced a partnership with celebrity Yi Yangqianxi, marking a shift in its marketing strategy from product-driven to a dual approach that includes brand ambassadors to attract younger consumers [23][26]. - This change comes in response to declining sales and aims to reposition the brand in the eyes of a younger demographic, enhancing its appeal [26][27]. Group 7: Leap Motor's Innovative Collaboration - Leap Motor collaborated with IKEA for a pop-up event, focusing on the concept of "space" in automotive design, which aligns with contemporary consumer preferences for lifestyle-oriented products [28][31]. - The event successfully increased foot traffic and sales, demonstrating the effectiveness of experiential marketing in the automotive sector [31]. Group 8: Great Wall's Endurance Race - Great Wall Motors' founder participated in a challenging endurance race, showcasing the reliability of its vehicles and reinforcing the brand's commitment to quality and performance [32][36]. - This hands-on approach by the founder enhances brand credibility and connects with consumers on a personal level, promoting a culture of adventure and resilience [36][37]. Group 9: BYD's Youth Engagement - BYD's "I Di New Generation 2025" event aimed to reshape its image by highlighting the talents of its young employees, fostering a connection with the younger audience [38][41]. - The initiative reflects BYD's strategy to engage with younger consumers through innovative and entertaining formats, moving away from traditional marketing methods [41]. Group 10: Xiaomi's Strategic Shift - Xiaomi's founder delivered a speech outlining the company's strategic shift towards becoming a "hardcore technology company," aiming to redefine its market position amidst challenges in the automotive sector [42][45]. - The speech, however, faced criticism for lacking substance and failing to address product-related issues, which negatively impacted investor confidence [45][46].

Market Overview - After several days of increase, the Hong Kong stock market experienced a correction on October 3, with the Hang Seng Index falling by 0.54% to close at 27,140.92 points, the Hang Seng Tech Index down by 0.90%, and the State-Owned Enterprises Index decreasing by 0.68% [1]. Electric Vehicle Sector - The electric vehicle sector saw significant declines, with BYD shares dropping nearly 4%, Li Auto down over 3%, NIO down over 2%, and Geely down over 1% [3]. - Recent operational data from several automakers revealed that BYD's September sales of new energy vehicles reached approximately 396,300 units; NIO delivered 34,749 new vehicles in September, marking a year-on-year increase of 64%; and Li Auto delivered 33,951 new vehicles in September [3]. Other Sectors - The water, computer, and peripheral device sectors also experienced notable declines [4]. Nuclear Power Sector - The nuclear power sector saw gains, with China National Nuclear Corporation rising over 20% and China General Nuclear Power Corporation increasing over 6% [5]. - Recent positive developments in the nuclear energy field include a significant breakthrough in the construction of the compact fusion energy experimental device BEST in Hefei, Anhui. The total assembly work for BEST is set to officially start in May 2025, with expectations to complete it two years later, aiming to demonstrate fusion energy generation globally for the first time [5]. Energy Market Dynamics - The global energy market is facing structural changes and demand challenges due to the increasing need for AI and computing power [6].