关注 「电动车公社」 和我们一起重新思考汽车 《今日新闻》将会每天给大家带来几条当日重磅新闻，并附上社长的简单评论。关注「电动车公社」，新能源圈大事小事 ，看我们就够啦～ 今日新闻要点： 吉利汽车发布第三季度财报 营收892亿元，创历史新高 11月17日，吉利汽车发布2025年第三季度财报。 其中营收892亿元，同比增长27%，单季收入创历史新高；归母净利润39.6亿元，同比增长 19%；前三季度市占率10.2%，同比增长28.1%。截至2025年10月底，吉利汽车已实现年内销量247.7万辆，全年销量目标300万辆，完成率 82.6%。 1、 吉利汽车发布第三季度财报，营收892亿元，创历史新高； 小鹏汽车发布第三季度财报，营收203.8亿元，毛利20.1%，创历史新高； 01 收入、核心归母净利润、市占率 全面墙长 2025年Q3收入 892亿元 单季度收入创历史新高 环比增长15% 同比增长27% 2025年Q3核心归母净利润* 39.6亿元 环比增长25% 同比增长19% 2025年1-9月累计收入 2,395亿元 同比增长26% 2025年1-9月核心归母净利润 106.2亿元 同比增长59% 同比 ...

周一，小鹏汽车(XPEV.US)跌6%，报23.50美元。财报显示，三季度小鹏汽车营收203.8亿元，低于市场 预期的204.5亿元；非公认会计原则每股亏损0.43元，略差于预期的0.41元人民币。小鹏汽车预计第四季 度营收215亿元至230亿元，同比增加约33.5%至42.8%；预计交付量125000至132000辆，同比增加约 36.6%至44.3%，市场预估135984辆。 ...

周一，小鹏汽车(XPEV.US)跌6%，报23.50美元。财报显示，三季度小鹏汽车营收203.8亿元，低于市场 预期的204.5亿元；非公认会计原则每股亏损0.43元，略差于预期的0.41元人民币。小鹏汽车预计第四季 度营收215亿元至230亿元，同比增加约33.5%至42.8%；预计交付量125000至132000辆，同比增加约 36.6%至44.3%，市场预估135984辆。 ...

人民财讯11月17日电，17日晚举行的业绩会上，小鹏汽车对外宣布了2026年的产品规划：一季度，小鹏 汽车将继续推出3款超级电动增程产品，用更长的纯电续航和更快的5C超快充解决增程市场的用户痛 点，进一步提升在增程市场的份额。此外，还将在2026年推出4款一车双能的全新车型，其中包括在重 要细分市场投放的首款产品。 ...

人民财讯11月17日电，11月17日举办的业绩会上，小鹏汽车表示，2026年计划面向海外市场推出3款新 车型，其中包括中小型SUV车型，以满足全球消费者多样化的购车需求。 ...

Financial Data and Key Metrics Changes - XPeng reported total revenues of RMB 20.38 billion for Q3 2025, a 101.8% increase year-over-year and an 11.5% increase quarter-over-quarter [25] - Vehicle sales revenues were RMB 18.05 billion, reflecting a 105.3% year-over-year increase and a 6.9% quarter-over-quarter increase [25] - Gross margin reached 20.1%, up from 15.3% in Q3 2024 and 17.3% in Q2 2025 [26] - Net loss narrowed to RMB 0.38 billion, compared to RMB 1.81 billion year-over-year and RMB 0.48 billion quarter-over-quarter [27] - Cash reserves totaled RMB 48.33 billion as of September 30, 2025 [28] Business Line Data and Key Metrics Changes - Vehicle deliveries totaled 116,007 units in Q3 2025, a 149% increase year-over-year [6] - Revenues from services and others were RMB 2.33 billion, representing a 78.1% year-over-year increase [26] - The XPeng P7 became one of the top three BEV sedans, contributing to over 40,000 monthly deliveries starting in September [6] Market Data and Key Metrics Changes - Monthly overseas deliveries exceeded 5,000 units for the first time in September 2025, a 79% increase year-over-year [13] - XPeng expanded its sales and service network to 52 countries and regions, with 56 new overseas stores opened during Q3 [13] Company Strategy and Development Direction - XPeng aims to achieve break-even in Q4 2025 and plans to mass-produce its VLA 2.0 model, Robotaxi, and humanoid robots by 2026 [7][9] - The company is focused on developing a portfolio of technologies and products in physical AI, with plans to open-source its physical world model [9][16] - XPeng launched pre-sales for the XPeng X9 Super Extended Range EV, targeting a broader market and aiming to increase NEV market share [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving significant sales growth opportunities through the introduction of new models and expansion into international markets [12][70] - The company anticipates total deliveries in Q4 2025 to reach between 125,000 and 132,000 units, reflecting a year-over-year growth of 36.6%-44.3% [23] - Management highlighted the importance of collaboration with partners to enhance the Robotaxi ecosystem and drive future growth [61] Other Important Information - XPeng's R&D expenses increased to RMB 2.43 billion, reflecting a 48.7% year-over-year increase [26] - The company plans to introduce three super extended range products in Q1 2026 to capture more of the EREV market [12] Q&A Session Summary Question: XPeng's long-term competitive advantage in physical AI - Management emphasized that the integration of full-stack technology and cross-domain capabilities will differentiate XPeng from traditional automakers [31][34] Question: Revenue from collaboration with Volkswagen - Management expects revenue from technical collaboration to remain comparable to Q3 levels in Q4, with Turing SoC revenue starting to ramp up in 2026 [36][38] Question: Humanoid robot strategy and competitive advantage - Management highlighted XPeng's unique approach to humanoid robots, focusing on human-like features and full-stack R&D capabilities [42][45] Question: Commercialization milestones for humanoid robots - Management outlined the challenges of mass production and the goal of integrating advanced capabilities by the end of 2026 [49][52] Question: Robotaxi service launch in 2026 - Management explained that the launch is based on achieving key technological milestones and aims to address current industry challenges [56][58] Question: Revenue estimates for new businesses - Management refrained from providing specific numerical guidance but expressed confidence in the potential for rapid growth in new business areas [65][67] Question: Details on new vehicle models and pricing - Management confirmed the launch of the XPeng X9 and additional models in various price segments, targeting both domestic and international markets [68][70]

Financial Data and Key Metrics Changes - XPENG reported total revenues of RMB 20.38 billion for Q3 2025, a 101.8% increase year-over-year and an 11.5% increase quarter-over-quarter [24] - Vehicle sales revenues were RMB 18.05 billion, reflecting a 105.3% year-over-year increase and a 6.9% quarter-over-quarter increase [24] - Gross margin reached 20.1%, up from 15.3% in Q3 2024 and 17.3% in Q2 2025 [25] - Net loss narrowed to RMB 0.38 billion, compared to RMB 1.81 billion year-over-year and RMB 0.48 billion quarter-over-quarter [26] Business Line Data and Key Metrics Changes - Vehicle deliveries totaled 116,007 units in Q3 2025, a 149% increase year-over-year [6] - Revenues from services and others were RMB 2.33 billion, representing a 78.1% year-over-year increase [25] - R&D expenses increased to RMB 2.43 billion, a 48.7% year-over-year rise [26] Market Data and Key Metrics Changes - Monthly overseas deliveries exceeded 5,000 units for the first time in September 2025, a 79% increase year-over-year [13] - The company expanded its sales and service network to 52 countries and regions, with 56 new overseas stores opened during Q3 [13] Company Strategy and Development Direction - XPENG aims to achieve break-even in Q4 2025 and is focused on Physical AI R&D, targeting mass production of VLA 2.0 models, Robotaxi, and humanoid robots by 2026 [7][9] - The company plans to launch three super extended range products in Q1 2026 to capture more of the EREV market [12] - XPENG is developing an extensive portfolio of technologies and products in the physical AI space, with a goal to become a leading global company in embodied intelligence [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving significant sales growth opportunities through the introduction of new models and expansion into international markets [22] - The company anticipates total deliveries in Q4 2025 to reach between 125,000 and 132,000 units, reflecting a year-over-year growth of 36.6%-44.3% [22] - Management highlighted the importance of an open and dynamic ecosystem for unlocking the full potential of physical AI [9] Other Important Information - XPENG's first European localized production facility in Austria commenced operations, with initial batches of XPENG G6 and G9 produced [13] - The company plans to open-source its VLA 2.0 model to global commercial partners, with Volkswagen as the initial launch customer [16] Q&A Session Summary Question: XPENG's long-term competitive advantage in physical AI - Management emphasized the shift from traditional automaking to a physical AI model, focusing on full-stack technology capability and cross-domain integration [30][31] Question: Revenue from collaboration with Volkswagen - Revenue from technical collaboration is expected to remain comparable to Q3 levels in Q4, with Turing SoC revenue starting to be recognized in Q4 [34][35] Question: Humanoid robot strategy and competitive advantage - Management highlighted XPENG's unique approach to humanoid robots, focusing on human-like features and full-stack R&D capabilities [40][42] Question: Commercialization milestones for humanoid robots - Management outlined the challenges of mass production and the goal to implement robots in commercial scenarios by 2026 [45][47] Question: Robotaxi service launch in 2026 - Management discussed the inflection points in R&D that will enable the launch of Robotaxi services, emphasizing cost reduction and operational efficiency [51][52]

Financial Data and Key Metrics Changes - XPeng reported total revenues of RMB 20.38 billion for Q3 2025, a 101.8% increase year-over-year and an 11.5% increase quarter-over-quarter [21] - Vehicle sales revenues were RMB 18.05 billion, reflecting a 105.3% year-over-year increase and a 6.9% quarter-over-quarter increase [21] - Gross margin reached 20.1%, up from 15.3% in Q3 2024 and 17.3% in Q2 2025 [22] - Net loss decreased to RMB 0.38 billion from RMB 1.81 billion year-over-year and RMB 0.48 billion quarter-over-quarter [23] - Cash reserves totaled RMB 48.33 billion as of September 30, 2025 [24] Business Line Data and Key Metrics Changes - Vehicle deliveries totaled 116,007 units in Q3 2025, a 149% increase year-over-year [5] - The XPeng P7 became one of the top three BEV sedans, contributing to over 40,000 monthly deliveries starting in September [5] - Revenues from services and others were RMB 2.33 billion, a 78.1% year-over-year increase [21] Market Data and Key Metrics Changes - Monthly overseas deliveries exceeded 5,000 units for the first time in September 2025, a 79% year-over-year increase [11] - XPeng expanded its sales and service network to 52 countries and regions, with 56 new overseas stores opened in Q3 2025 [11] Company Strategy and Development Direction - XPeng aims to achieve break-even in Q4 2025 and is focused on physical AI R&D, targeting mass production of VLA 2.0 models, Robotaxi, and humanoid robots by 2026 [5][6] - The company plans to open-source its physical world model and collaborate with mobility platforms for Robotaxi services [7] - XPeng is launching the XPeng X9 Super Extended Range EV, which is expected to drive growth in the NEV market [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving significant sales growth opportunities through the introduction of new models and expansion into international markets [10][19] - The company anticipates total deliveries in Q4 2025 to reach between 125,000 and 132,000 units, reflecting a year-over-year growth of 36.6%-44.3% [19] - Management highlighted the importance of a collaborative ecosystem for scaling Robotaxi operations and humanoid robots [15][54] Other Important Information - XPeng's R&D expenses increased to RMB 2.43 billion, reflecting a 48.7% year-over-year increase [22] - The company plans to introduce three super extended range products in Q1 2026 to capture more of the EREV market [10] Q&A Session Summary Question: What are XPeng's long-term competitive advantages in physical AI? - Management emphasized the importance of full-stack technology capability and cross-domain integration as key competitive advantages in physical AI [26][28] Question: What is the expected revenue trend from collaboration with Volkswagen? - Revenue from technical collaboration is expected to remain comparable to Q3 levels in Q4, with significant ramp-up anticipated in 2026 as joint vehicle production begins [30][32] Question: Can you elaborate on the humanoid robot strategy and competitive advantages? - Management highlighted the unique human-like design and advanced integration of hardware and software as competitive advantages in the humanoid robot market [35][38] Question: What are the key milestones for humanoid robot commercialization by 2026? - Management outlined the challenges in mass production and the goal to achieve full capability integration by the end of 2026, with initial deployment in commercial scenarios [40][45] Question: What is the plan for Robotaxi services in 2026? - XPeng plans to launch three Robotaxi models in 2026, focusing on addressing current industry challenges and establishing a sustainable business model [47][49]

今日上榜个股中，盈富基金、阿里巴巴-W、小米集团-W等7只股同时上榜港股通（深）、港股通 （沪）成交活跃股， 盈富基金合计成交额39.03亿港元，成交净买入37.27亿港元，阿里巴巴-W合计成 交额101.70亿港元，成交净买入20.71亿港元。赣锋锂业合计成交额19.17亿港元，成交净卖出8353.42万 港元，中芯国际合计成交额38.54亿港元，成交净卖出7329.47万港元。 11月17日恒生指数下跌0.71%，南向资金全天合计成交金额为913.76亿港元，其中，买入成交499.12亿 港元，卖出成交414.64亿港元，合计净买入金额84.48亿港元。具体来看，港股通（深）累计成交金额 351.89亿港元，买入成交196.51亿港元，卖出成交155.38亿港元，合计净买入金额41.13亿港元；港股通 （沪）累计成交金额561.86亿港元，买入成交302.61亿港元，卖出成交259.26亿港元，合计净买入金额 43.35亿港元。 成交活跃股方面，今日上榜个股中，南向资金成交金额最多的是阿里巴巴-W，合计成交额101.70亿港 元，盈富基金、中芯国际成交额紧随其后，分别成交39.03亿港元、38.54亿港元 ...

11月17日，小鹏汽车（9868.HK）发布2025年第三季度未经审计财务业绩，多项数据向好。小鹏汽车董 事长、CEO何小鹏表示，"小鹏汽车的各项关键经营指标，包括销量、收入、毛利率、在手现金再创新 高。" 具体来看，第三季度，小鹏汽车总交付量约为11.6万辆，同比增加149.3%。去年同期，小鹏汽车推出了 MONA系列首款车型M03，将沉寂已久的小鹏汽车拉出ICU，后续推出的P7+、G7、全新P7、G6、G9 等车型亦收获了市场的热烈反馈，今年10月，小鹏汽车月度交付量再创新高，达到42013辆。 销量带动营收大幅增长，第三季度，小鹏汽车汽车销售收入达到180.5亿元，同比上升105.3%，环比亦 有6.9%的增长。与大众的合作不断显现高含金量，第三季度服务及其他收入为23.3亿元，同比增长 78.1%，环比亦大增67.3%。总体来看，季度内，小鹏汽车总收入为203.8亿元，同比增长101.8%，环比 增长11.5%。 按照目前的速度，小鹏汽车第四季度盈亏平衡有望。第三季度，小鹏汽车净亏损仅3.8亿元，而去年同 期为18.1亿元，今年第二季度为4.8亿元。单看经营亏损，季度内为7.5亿元，去年同期为18.5 ...