港股汽车股持续跌势，其中，小鹏汽车绩后大跌超8%表现最弱，零跑汽车跌4.2%，蔚来跌3%，长城汽 车跌2.6%，理想汽车、赛力斯跌超2%，比亚迪股份、广汽集团、北京汽车均有跌幅。 消息面上，小鹏汽车昨日公布业绩显示，2025年Q3营收203.8亿元，同比增长102%，市场预估204.5亿 元；调整后每股亏损0.080元。季度毛利率为20.1%，较2024年同期上升4.8个百分点。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%。 乘联分会秘书长崔东树11月17日发文表示，10月份，社会消费品零售总额46291亿元，同比增长2.9%。 其中，汽车消费额4255亿元、同比降7%。1—10月份汽车消费额40009亿元、同比降0.2%。 | 代码 | 名称 | 最新价 | 涨跌幅 ^ | | --- | --- | --- | --- | | 09868 | 小鹏汽车-W | 88.050 | -8.28% | | 09863 | 零跑汽车 | 52.500 | -4.20% | | 09866 | 蔚来-SW | 47.840 | -3.00% | | 02333 | 长城汽车 | ...

大行评级丨小鹏汽车营收预测不及预期拖累ADR下挫 花旗小幅下调目标价 小鹏汽车-W(09868.HK)获摩 根大通增持574.21万股 小鹏汽车-W(09868.HK)获摩根大通增持574.21万股 小鹏汽车-W(09868.HK)：委 任陈玉东为独立非执行董事 相关事件 小鹏汽车此前公布的第四财季营收预测不及预期，拖累隔夜ADR重挫逾10%。花旗称，考虑到明年一季 度的汽车销售淡季，将小鹏汽车美股和港股目标价分别下调逾3%，但仍看好公司在明年多元化增长的 潜力。分析师Jeff Chung等在报告中指出，在分析师简报会后，小幅下调对公司2025年的销量预测以符 合公司的新指引进入2026年，公司计划有7款新车型发布，并计划启动Robotaxi的试运行。小鹏目标在 2026年底开始人形机器人的大规模生产，管理层设想人形机器人的总目标市场将超过电动汽车，到2030 年小鹏机器人在全球的销量将超过100万台。花旗将该公司美股目标价下调3.4%至28.4美元；港股目标 价下调3.7%至110.6港元。 ...

消息面上，11月17日，小鹏汽车公布的最新业绩数据显示，小鹏汽车公布第三季度营收为203.8亿元， 同比增长102%，市场预估204.5亿元；第三季度调整后每股亏损0.080元。季度毛利率为20.1%，较2024 年同期上升4.8个百分点；归属于上市公司股东的净亏损3.8亿元，上年同期净亏损18.1亿元。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。 智通财经APP获悉，小鹏汽车-W(09868)绩后低开逾7%，截至发稿，跌7.29%，报89港元，成交额 7355.52万港元。 ...

XPeng achieved a 149% year-over-year increase in vehicle deliveries, totaling 116,007 units, driven by the successful launch of the XPeng P7, which became a top BEV sedan in its price range, boosting monthly deliveries to over 40,000 units by September. The company's gross margin exceeded 20% for the first time in Q3, and XPeng is focused on reducing its net loss, aiming to achieve break-even by Q4, indicating improved financial performance and operational efficiency. XPeng is leveraging AI and physical AI ...

中国汽车工业协会：10月新能源汽车出口25.6万辆 同比增长99.9% 11月17日，中国汽车工业协会发布数据显示，2025年10月，新能源汽车出口25.6万辆，环比增长 15.4%，同比增长99.9%。2025年1—10月，新能源汽车出口201.4万辆，同比增长90.4%。 智通财经汽车：中国新能源车出海迎来黄金期。 乘联分会崔东树：2025年汽车投资增速达17.5% 11月17日，乘联分会秘书长崔东树发文表示，2025年汽车投资增速也达到17.5%，近两年汽车投资超预 期的强，处于近年的1-10月历史高位，也远高于其它制造业行业的投资增速。2025年10月汽车生产328 台，同比增11%；新能源汽车生产171万台，同比增19%，渗透率52%；燃油车生产157万台，同比增 4%。2025年1-10月汽车生产2733万台，同比增11%；新能源汽车生产1267万台，同比增28%，渗透率 46%；燃油车生产1465万台，同比持平。 智通财经汽车：汽车产业投资主要聚焦于新能源汽车、智能网联技术、核心零部件等领域。 广汽集团新一届领导班子公布 閤先庆任总经理 11月17日，广汽集团新一届职业经理人选聘结果公布。广汽集 ...

Core Insights - The top three companies by Hong Kong Stock Connect holding ratios are China Telecom (00728) at 72.14%, COSCO Shipping Energy (01138) at 69.18%, and GCL-Poly Energy (01330) at 69.09% [1][2] - Xiaomi Group-W (01810), Pop Mart (09992), and Industrial and Commercial Bank of China (01398) saw the largest increases in holding amounts over the last five trading days, with increases of +34.20 billion, +12.67 billion, and +11.24 billion respectively [1][2] - The largest decreases in holding amounts were observed in the Tracker Fund of Hong Kong (02800) at -58.33 billion, Alibaba Group-W (09988) at -40.89 billion, and Hang Seng China Enterprises Index (02828) at -18.98 billion [1][3] Group 1: Top Holding Ratios - China Telecom (00728) has a holding ratio of 72.14% with 10.013 billion shares [2] - COSCO Shipping Energy (01138) has a holding ratio of 69.18% with 0.897 billion shares [2] - GCL-Poly Energy (01330) has a holding ratio of 69.09% with 0.279 billion shares [2] Group 2: Recent Increases in Holdings - Xiaomi Group-W (01810) increased by +34.20 billion with a change of +81.51 million shares [2] - Pop Mart (09992) increased by +12.67 billion with a change of +5.83 million shares [2] - Industrial and Commercial Bank of China (01398) increased by +11.24 billion with a change of +172.61 million shares [2] Group 3: Recent Decreases in Holdings - Tracker Fund of Hong Kong (02800) decreased by -58.33 billion with a change of -219.93 million shares [3] - Alibaba Group-W (09988) decreased by -40.89 billion with a change of -26.39 million shares [3] - Hang Seng China Enterprises Index (02828) decreased by -18.98 billion with a change of -19.89 million shares [3]

Key Points - The article discusses various significant events and developments in the business and technology sectors, highlighting key company announcements, financial results, and market trends. Group 1: Company Announcements - Yu Minhong's internal letter to New Oriental employees sparked criticism as he celebrated the company's anniversary from Antarctica while employees were working late [4][5] - JD.com launched an independent food delivery app, with founder Liu Qiangdong emphasizing that the review service will never be commercialized [8][9] - Huawei announced the upcoming release of the Mate 80 series, featuring models with up to 20GB of RAM, set for November 25 [30] Group 2: Financial Results - XPeng Motors reported Q3 revenue of 20.38 billion yuan, a 101.8% year-on-year increase, with a net loss of 3.8 billion yuan [17][19] - Geely's Q3 revenue reached 89.2 billion yuan, a 27% increase year-on-year, with a net profit of 3.82 billion yuan, up 59% [20] - The Chinese tablet market saw Huawei leading with a 32.1% market share, while the overall market grew by 10.9% year-on-year [26][27] Group 3: Market Trends - The article notes a significant shift in the electric vehicle market, with XPeng Motors and Geely both reporting substantial growth, indicating a competitive landscape [17][20] - The AI and robotics sectors are experiencing rapid advancements, with companies like Booster Robotics and Ling Universe securing significant funding for product development [28][29] - The tech industry is facing a wave of layoffs, contrasting with the growth in AI-related projects, highlighting a disparity in workforce stability [45][46]

Group 1 - JD.com announced the official launch of its independent food delivery app, aiming to enhance user accessibility and convenience for its delivery services [3] - New Oriental's founder Yu Minhong sent a controversial letter to employees from Antarctica, reflecting on the company's journey and encouraging unity amidst challenges, which received mixed reactions from staff [5][7] - Alibaba's new AI application "Qianwen" faced service interruptions on its first day due to overwhelming user traffic, leading to a trending topic on social media [8] Group 2 - Former CEO of Hema, Hou Yi, is launching a new pet food brand "Chong Tian Tian" after the closure of his previous venture "Pai Te Xian Sheng" [10] - ByteDance's Seed AI team has seen significant turnover, with seven core members leaving this year, raising concerns about talent retention [11] - XPeng Motors plans to release seven new vehicles in 2026, focusing on "super range extender" configurations to address market needs [11] Group 3 - DJI confirmed its investment in a 3D printing company, reflecting confidence in the growth potential of the consumer 3D printing market, which is projected to reach $24.61 billion in 2024 [11] - Ubisoft is rumored to have been acquired, following a sudden halt in its stock trading and a delay in its Q2 financial report [13] - Meta's executives defended their aggressive AI investments, suggesting that current spending levels are not excessive compared to historical tech bubbles [13] Group 4 - Mercedes-Benz's CEO stated that the strict deadline for phasing out fuel vehicles in Europe by 2035 is no longer feasible, advocating for more flexibility in the transition to electric vehicles [13] - OceanBase launched a new AI domain, indicating a strong commitment to integrating AI into its database solutions [13] - L'Oréal Group made a minority investment in the Chinese skincare brand "LAN," marking its first investment in a local skincare company [14]

| 蒙格序號 | 大 股東/董事/最高行政人員名 作出披露的 買入 / 賣出或涉及的 每股的平均價 | | | | 持有權益的股份數目 佔已發行的有關事件的日 相關法國 | | | --- | --- | --- | --- | --- | --- | --- | | | 版优惠 | | | | 份權益 請參閱│迦本註 有投票權股期(日 / 月 / | | | | | | | | 份自分比 年 | | | CS20251114E00464 | JPMorgan Chase & Co. | 1001(L) | 5.742.126(L | HKD 105.6553 | 80,373,920(L) | 5.14(L)11/11/2025 | | | | 1403(S) | 5,745,451(S) | | 60.686.996(S) | 3.88(S) | | | | | | | 27.324.902(P) | 1.75(P) | | 股份代號: | 09868 | | --- | --- | | 上市法國名稱: | 小鵬汽車有限公司 - W | | 日期 (日 / 月 / 年): | 18/10/2025 - 1 ...

If you'd like to learn more about how to best position yourself in under valued stocks mispriced by the market to end November, consider joining Out Fox The Street .Stone Fox Capital is an RIA from Oklahoma. Mark Holder is a CPA with degrees in Accounting and Finance. He is also Series 65 licensed and has 30 years of investing experience, including 15 years as a portfolio manager. Mark leads the investing group Out Fox The Street where he shares stock picks and deep research to help readers uncover potentia ...