每经AI快讯，11月3日，港股新能源汽车板块高开，蔚来汽车、小鹏汽车涨超3%，零跑汽车、长城汽 车、小米集团纷纷高开。 ...

Core Viewpoint - NIO has shown significant sales growth, delivering 40,397 vehicles in October, a 92.6% year-on-year increase, while still facing financial losses and aiming for profitability by Q4 2025 [1][6][7] Group 1: Sales Performance - NIO delivered 40,397 new vehicles in October, marking the first time monthly sales exceeded 40,000 units, with a cumulative delivery of 913,200 units [1][6] - The launch of the new brands, including the "Leda" brand with a starting price of 206,900 yuan and the "Firefly" brand priced at 148,800 yuan, has contributed to sales growth [6][7] - The monthly sales of the Leda brand reached 17,342 units, surpassing the main NIO brand for the first time [6] Group 2: Financial Situation - NIO's revenue for the first half of 2025 was 31.04 billion yuan, a 13.49% increase year-on-year, but the net profit loss expanded to 12.03 billion yuan [7] - The gross margin decreased by 0.8 percentage points to 9.1%, significantly lower than competitors like Tesla and BYD [7] - The company is under pressure to balance short-term cash flow with long-term technology investments while aiming for profitability in Q4 2025 [7] Group 3: Leadership and Strategy - Li Bin, the founder, has a history of entrepreneurship and has navigated multiple challenges in the automotive industry [2][3][4] - The multi-brand strategy was implemented to maintain NIO's premium positioning amidst industry price cuts, which has proven effective in boosting sales [5][6] - Li Bin has reiterated the importance of efficient operations to achieve the profitability target and has announced plans to increase the production capacity of the new ES8 model [7]

Core Viewpoint - The automotive industry is experiencing a "year-end sprint" as 2025 approaches, with companies employing unconventional marketing strategies to capture consumer attention amidst a crowded market [4][5]. Group 1: Innovative Marketing Strategies - Mercedes-Benz collaborated with McDonald's to promote the new electric CLA by transforming the car into a "giant hamburger" and using youth-oriented language in their campaign [6][8]. - Chery Jetour's G700 made headlines by successfully crossing the Yangtze River, showcasing its capabilities and significantly boosting brand visibility, with over 15,717 orders within 24 hours of its launch [10][12]. - GAC Group partnered with JD.com for a promotional event leading up to Double Eleven, generating significant buzz and engagement through a blind auction that attracted over 23,000 bids [14][18]. Group 2: Celebrating Milestones - FAW-Volkswagen celebrated the production of its 30 millionth vehicle with a month-long marketing campaign, including a cultural festival and promotional offers that attracted around 130,000 participants [16][20]. - The success of FAW-Volkswagen's campaign highlights the importance of integrating celebration with promotional activities to maximize brand value [20]. Group 3: Unique Brand Engagement - Leap Motor's 61-year-old sales representative gained widespread admiration, leading to the launch of a training program that emphasizes the brand's commitment to employee empowerment and customer connection [21][23]. - Avita introduced a unique dining experience in its showrooms, offering high-quality meals to visitors, aiming to enhance customer engagement and brand perception [35][37]. Group 4: Product Testing and Globalization - Avita and Great Wall Motors are conducting extreme environment tests in Antarctica to validate their vehicles' performance, addressing the growing demand for adaptability in various climates [25][30]. - This focus on rigorous testing reflects the industry's shift towards ensuring product reliability in diverse global markets [30]. Group 5: Addressing Safety Concerns - Multiple incidents of vehicle fires in October raised safety concerns across the industry, with Li Auto taking proactive measures by recalling over 11,000 vehicles to address identified issues [41][45]. - The response from Li Auto contrasts with the silence from other brands, highlighting the importance of transparency and accountability in maintaining consumer trust [45].

Core Insights - The Chinese automotive market continued its strong growth in October, with major automakers reporting impressive sales figures, led by SAIC Motor with 454,000 units sold, followed by BYD and Chery Group, both exceeding 280,000 units [1][2] - The market dynamics were influenced by local subsidy policies, the National Day auto show, and year-end promotions, alongside the implementation of the fourth batch of trade-in subsidies and the launch of multiple new models [1][5] - The overall performance indicates a shift towards high-quality development in the Chinese automotive industry, with significant advancements in new energy vehicle penetration, high-end market positioning, and global expansion [1][5] Group 1: Major Automakers Performance - SAIC Motor achieved a monthly sales record of 454,000 vehicles in October, marking a year-on-year increase of 12.96% [2] - BYD sold 441,700 vehicles in October, with cumulative sales for the first ten months reaching 3,701,900 units, nearing its annual target for 2024 [2] - Geely and Chery also reported significant growth, with Geely's passenger vehicle sales at 307,100 units (up 35% year-on-year) and Chery's sales at 281,200 units (up 3.3%), including a remarkable 54.7% increase in new energy vehicle sales [2] Group 2: New Energy and Emerging Brands - New energy vehicles are becoming a key growth driver, with companies like Leap Motor achieving record sales of 70,300 units in October [3][4] - Hongmeng Zhixing and XPeng Motors are making strides in the high-end market, with Hongmeng selling 68,200 vehicles and XPeng achieving 420,100 units sold, reflecting a 76% year-on-year increase [4] - NIO and Li Auto are also progressing in multi-brand operations, with NIO selling nearly 40,400 units (up 92.6% year-on-year) and Li Auto reaching 31,800 units, with cumulative sales surpassing 1.46 million [4] Group 3: Market Outlook - The automotive market is expected to maintain its momentum into November, driven by promotional events like "Double 11" and the Guangzhou Auto Show, alongside continued subsidies [5] - The demand is anticipated to remain strong, with potential increases in sales due to the impending expiration of the new energy vehicle purchase tax exemption [5]

New Car Launches - The new Zeekr 7X has been launched with a price range of 229,800 to 269,800 CNY, featuring three models and significant upgrades in design and technology [2][3][11] - The new Avita 12 Four Laser Edition is priced between 269,900 and 429,900 CNY, offering both range-extended and pure electric versions with advanced driving assistance systems [14][20][22] - Smart's new model, the Smart 5 EHD, is priced from 189,900 to 239,900 CNY, featuring a hybrid system and a luxurious interior [23][30] - The new Denza N8L is launched at a price of 299,800 to 329,800 CNY, showcasing a modern design and advanced technology features [4][38] - Beijing Hyundai's EO model is available for pre-sale at 119,800 to 149,800 CNY, targeting the compact SUV market with competitive features [5][47] - Chery's new model, the Wind Cloud T11, is priced between 189,900 and 249,900 CNY, boasting high-end configurations and a spacious interior [6][54] - The Galaxy Star 6 has been launched with a price range of 74,800 to 105,800 CNY, featuring a new design and advanced technology [7][58] - The Deep Blue L06 has opened for pre-sale with a price range of 139,900 to 161,900 CNY, featuring a sporty design and advanced driving assistance [8][67] Company Dynamics - Horizon Robotics has partnered with ZF to develop a city navigation assistance system, set to be mass-produced by 2026 [70][75] - Xiaopeng Motors is establishing the first low-altitude flying car "6S" store in Guangzhou, aiming to integrate various flying services [76][79] - 4D Map has rebranded to SEEWAY.AI, focusing on AI strategies and expanding into autonomous driving technologies [81][84] - SAIC Group reported a growth in both sales and revenue in Q3, driven by strong performance in the electric vehicle segment [87][90] - BYD's Q3 revenue decreased by 3.05% to 194.99 billion CNY, with net profit down 32.6% due to competitive pressures [91][92] - Seres reported a 15.75% increase in revenue to 48.13 billion CNY, while net profit slightly declined [94][95] Sales Performance - BYD's October passenger car sales reached 436,856 units, maintaining a leading position in the electric vehicle market [100][104] - SAIC Group sold 207,000 new energy vehicles in October, leading the industry in total sales [106] - Geely's October new energy vehicle sales were 177,882 units, with significant contributions from its Galaxy brand [107][110] - Chery's new energy vehicle sales reached 110,346 units in October, marking a significant milestone [111][112] - Chang'an's new energy vehicle sales were 119,000 units, with strong performance from its Deep Blue brand [119] - Great Wall Motors sold 46,155 new energy vehicles in October, reflecting its ongoing transition to electric vehicles [120][121] - Leap Motor delivered 70,289 units in October, showcasing its strong market presence [122] - Hongmeng Zhixing delivered 68,216 units in October, benefiting from increased production capacity [125][127] - Xiaopeng Motors delivered 42,013 units in October, with new models contributing to sales growth [128][130] - NIO delivered 40,397 units in October, reflecting a successful year for the brand [131][133] - Xiaomi's vehicle deliveries exceeded 40,000 units in October, supported by favorable market conditions [134][136] - FAW delivered 38,900 new energy vehicles in October, marking a significant achievement [137][138] - Li Auto delivered 31,767 units in October, facing competitive pressures in the market [143][144] - Dongfeng Yipai Technology delivered 31,107 units in October, showing steady growth [146][148] - BAIC New Energy sold 30,542 units in October, driven by new model launches [149][152] - Lantu delivered 17,218 units in October, continuing its upward trajectory [153][155] - Jishi delivered 1,426 units in October, with plans for future expansion [156][159]

Core Viewpoint - NIO-SW (09866.HK) achieved a record monthly delivery of 40,397 vehicles in October 2025, representing a year-on-year increase of 92.6% [1] Delivery Performance - The deliveries included 17,143 high-end smart electric vehicles under the NIO brand, 17,342 family smart electric vehicles under the Lada brand, and 5,912 high-end smart electric cars under the Firefly brand [1] - As of October 31, 2025, the cumulative vehicle delivery reached 913,182 units [1] Product Highlights - The flagship smart large space SUV, Lada L90, set a new delivery record in October 2025, maintaining strong growth with monthly deliveries exceeding 10,000 units for three consecutive months since its official launch at the end of July 2025 [1] - L90 is positioned to lead the large SUV market into the pure electric era due to its industry-leading status and exceptional product competitiveness [1]

Core Viewpoint - NIO-SW (09866) announced a record delivery of 40,397 vehicles in October 2025, representing a year-on-year increase of 92.6% [1] Delivery Performance - The deliveries included 17,143 high-end smart electric vehicles under the NIO brand, 17,342 family smart electric vehicles under the Lada brand, and 5,912 high-end small electric vehicles under the Firefly brand [1] - As of October 31, 2025, the cumulative vehicle delivery reached 913,182 units [1] Product Highlights - The flagship SUV, Lada L90, achieved a new delivery high in October 2025, maintaining strong growth since its official launch at the end of July 2025, with monthly deliveries exceeding 10,000 units for three consecutive months [1] - The L90 is positioned to lead the large SUV market into the era of pure electric vehicles due to its industry-leading status and exceptional product competitiveness [1]

Core Viewpoint - NIO-SW (09866) achieved a record monthly delivery of 40,397 vehicles in October 2025, representing a year-on-year increase of 92.6% [1] Delivery Performance - The October 2025 deliveries included 17,143 high-end smart electric vehicles under the NIO brand, 17,342 family smart electric vehicles under the Lada brand, and 5,912 high-end smart electric cars under the Firefly brand [1] - Cumulative vehicle deliveries reached 913,182 units as of October 31, 2025 [1] Product Highlights - The flagship SUV, Lada L90, set a new delivery record in October 2025, maintaining strong growth since its official launch at the end of July 2025, with monthly deliveries exceeding 10,000 units for three consecutive months [1] - The L90 is positioned to lead the large SUV market into the electric era due to its industry-leading status and exceptional product competitiveness [1]

Core Insights - NIO announced that it delivered 40,397 vehicles in October, representing a year-on-year increase of 92.6% [1] - Cumulatively, from 2025 to date, NIO has delivered 241,618 vehicles, showing a year-on-year growth of 41.9% [1] Summary by Categories - **Delivery Performance** - October deliveries reached 40,397 vehicles, marking a significant growth of 92.6% compared to the same month last year [1] - Total deliveries since 2025 amount to 241,618 vehicles, with a year-on-year increase of 41.9% [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因倚賴 該等內容而引致的任何損失承擔任何責任。 根據不同投票權架構，我們的股本包括A類普通股及C類普通股。對於提呈我們股東大會的任 何決議案，A類普通股持有人每股可投一票，而C類普通股持有人則每股可投八票，惟法律或 《香港聯合交易所有限公司證券上市規則》或我們的組織章程大綱及細則另行規定者除外。股東 及有意投資者務請留意投資不同投票權架構公司的潛在風險。我們的美國存託股（每股美國存 託股代表一股A類普通股）於美國紐約證券交易所上市，股份代號為NIO。 蔚來集團 （於開曼群島註冊成立以不同投票權控制的有限責任公司） （股份代號：9866） 自願公告 關於蔚來 蔚來是全球智能電動汽車市場的先驅及領跑者。成立於2014年11月，蔚來致力 於共創可持續和更美好的未來，實現「Blue Sky Coming」的使命。蔚來的願景是 成為技術與體驗領先的用戶企業。蔚來設計、開發、製造及銷售智能電動汽車， 推動新一代核心技術的創新。蔚來通過持續的技術突破及創新、極致的產 ...