Group 1: Market Overview - In April, the new energy vehicle market saw significant growth, with BYD leading sales at over 380,000 units, followed by Leap Motor and Xiaopeng with remarkable increases in sales [1][4][18] - The overall sales of passenger cars reached 372,615 units, reflecting a year-on-year growth of 19.4% [6] Group 2: BYD Performance - BYD's new energy vehicle sales reached 380,089 units in April, marking a year-on-year increase of 21.3% [3][4] - The sales of BYD's main models, including the Dynasty and Ocean series, totaled 347,053 units, up 16.5% year-on-year [4] Group 3: Other Key Players - SAIC-GM-Wuling's new energy vehicle sales surged by 83.2% to 69,678 units, contributing to a total global sales of 126,455 units, which is a 22% increase [9][10] - Leap Motor achieved a monthly sales record of 41,039 units, a year-on-year increase of 173% [13] - Xiaopeng Motors delivered 35,045 vehicles in April, representing a staggering year-on-year growth of 273% [17][18] - Li Auto's sales reached 33,939 units, with a year-on-year increase of 31.6% [21][24] - Great Wall Motors sold 28,813 new energy vehicles, reflecting a year-on-year growth of 28.42% [27][28] - GAC Aion's sales reached 28,301 units, maintaining positive growth in the new energy vehicle market [33] - Xiaomi delivered over 28,000 vehicles in April, expanding its retail presence significantly [37] - NIO's deliveries totaled 23,900 units, with a year-on-year increase of 53% [40] - Deep Blue's sales reached 20,138 units, marking a year-on-year growth of 58% [45] - Zeekr sold 13,727 units, with a year-on-year increase of 18.7% [47] - Avita's sales reached 11,681 units, a significant year-on-year increase of 122.6% [50] - Lantu sold 10,019 units, reflecting a year-on-year growth of 150% [53] - IM Motors delivered 4,366 units, showing a year-on-year increase of 55% [56]

在全球范围汽车制造上为践行可持续发展和环保理念，应用生物基的汽车数量不断攀升。 生物基工 程塑料 、 生物基复合材料、生物基聚氨酯和树脂等材料 在探索 整车内外饰如 座 椅、仪表盘、织 物、皮革、涂料、灯具、格栅、轮胎等 部件 的应用替代上热度不减。 14:25 软木皮革用于汽车内饰部件研发与应用 14:50 刘 如 玛斯新材料技术研究(常州)有限公司总经理 中国林业科学研究院木材工业研究所副研究员 14:50 主题待定 15:15 周楠婷 蔚来汽车 主任工程师、博士 15:15 新型生物基聚碳酸酯DURABIO的特征与应用 15:40 闫家林 三菱化学 三菱化学(中国)管理有限公司 DURABIO中国区主要技术负责人 15:40 ■ 茶歇交流 16:10 16:10 "碳"寻绿色发展路径,打造100%可持续材料轮胎 16:35 薛天翔 GOOD YEAR 固特异轮胎管理(上海)有限公司 高级科学家、亚太区新材料研发负责人 16:35 阿朗新科的可持续发展路线图 17:00 陈民杰 ARLANXEO 阿朗新科高性能弹性体(常州)有限公司 高级技术经理 整车企业的可持续战略与材料需求是什么 ？ 生物基材料在汽车 ...

由此，中国汽十大集团一季度销量位次如下： 第一名，比亚迪，乘用车销量98万辆，同比增长57%；包括商用车在内，比亚迪一季度累计销量 100.08万辆，同比增长59.81%。 撰 文 / 牛跟尚 设 计 / 张 萌 在中国车企还有一部分集团尚未公布4月销量时，我们先来复习3月及一季度中国车企的销量情况。 从3月中国车企批发榜看，造车新势力头部零跑真正领跑，单月超过理想；造车老实力头部上汽王 者归来，单月超过比亚迪。 如果按中国汽车集团一季度批发量算，吉利控股——大吉利超了上汽，名列第二，北汽超了广汽， 名列第八。 第二名，吉利控股，946627辆，同比增长31%。 第三名，上汽集团，94.5万辆，同比增长13.3%，终端交付超108万辆。 以上10家中国汽车集团，一季度批发量"七升三降"，奠定了中国汽车行业稳中有升的基调。 需要说明的是，吉利汽车是吉利汽车集团的简称，只是吉利控股集团的一个重要汽车主体。吉利控 股包含吉利汽车集团（含银河），极氪科技集团（含领克），莲花集团，沃尔沃汽车集团，极星集 团，远程新能源商用车，以及曹操出行、耀出行等出行公司。若按吉利控股集团的销量，吉利控股 可以排中国汽车集团第二。 按 ...

Core Viewpoint - The automotive market is experiencing a surge in consumer interest and sales due to various promotional activities and government subsidies during the "May Day" holiday period, indicating a positive trend in the industry. Group 1: Sales and Promotions - Numerous automotive brands have launched limited-time promotions, including zero down payment, interest-free financing, and significant trade-in subsidies, leading to increased customer footfall in dealerships [1][3][6] - The average daily retail sales in the last two weeks of April are expected to reach 85,300 units, reflecting a year-on-year growth of 17.3% due to pre-holiday demand [3] - Several models have seen price reductions, with some brands offering discounts exceeding 50,000 yuan during the holiday [4][6] Group 2: Consumer Engagement - The "May Day" holiday has seen a notable increase in consumer engagement, with many dealerships reporting full appointment schedules for test drives [1][3] - Car exhibitions across 21 cities during the holiday have attracted large crowds, converting foot traffic into actual sales, as evidenced by significant attendance figures at events [10][12] Group 3: Government and Corporate Incentives - Government and corporate subsidies are playing a crucial role in stimulating automotive consumption, with some models eligible for up to 50,000 yuan in combined subsidies [15] - Local governments are enhancing consumer policies, such as offering 3,000 yuan subsidies for eligible vehicle purchases, which can be combined with other incentives for a maximum of 23,000 yuan [15] Group 4: Market Performance - Several automotive companies reported substantial year-on-year growth in vehicle deliveries for April, with notable increases from new energy vehicle manufacturers [16] - The overall automotive market is showing signs of recovery, supported by the introduction of new models and promotional activities during major auto shows [16]

"五一"小长假期间，海外市场仍在交易。 从最新情况看，中国资产相关的股票和人民币汇率都出现明显走强。虽然今年以来的宏观不确定性带来巨大扰 动，但明星私募们对于中国股市的看法继续保持乐观。 中国资产飘红 截至5月2日，海外市场中国资产走势强劲。 外汇市场上，离岸人民币兑美元大涨逾600点，回到7.21附近，表明外资对中国资产信心增强。股市方面，首 先是港股收盘大涨，恒生指数收涨1.74%，恒生科技指数收涨3.08%，代表公司腾讯上涨2.56%，阿里巴巴上涨 3.8%，小米集团更是涨超6%。 隔夜美股市场中概股也大幅走强，纳斯达克中国金龙指数上涨3.5%。热门中概股大多上涨，小鹏汽车上涨 5.84%，京东上涨4.93%，阿里巴巴上涨4.34%，哔哩哔哩上涨2.83%。 越来越多大型海外机构表达出了对于多元化资产配置的需求。美国桥水最新观点认为，我们已进入新的地缘政 治与宏观经济范式，这一转变给全球市场与投资组合带来紧迫挑战。当前全球资产配置仍延续着旧范式下的逻 辑，即较为集中地配置那些受益于美国经济增长、美联储积极应对及美国相对优势的资产(例如美国股票)。然 而，一旦未来形势发生转变，这种资产配置将会面临风险。 ...

Market Overview - The Hang Seng Index rose 1.74% and the Hang Seng Tech Index increased by 3.08% on the first trading day of May [1] - Despite a seemingly positive outlook for US stocks, there was a significant outflow of $8.9 billion from the US stock market, marking the largest outflow since December 2023 [1] - The US Chamber of Commerce urged the Trump administration to implement a tariff exemption mechanism to prevent economic recession and harm to small businesses [1] Trade Relations - The Chinese Ministry of Commerce noted a shift in the US stance regarding tariff negotiations, indicating a willingness to engage in talks [2] - The FTSE China A50 index futures reacted positively, rising over 0.9%, and the offshore RMB appreciated significantly against the USD [2] - New tariff adjustments confirmed that auto parts from Canada and Mexico will be exempt from a 25% tariff starting May 3 [2] Automotive Sector - Xpeng Motors reported a record delivery of over 30,000 vehicles for six consecutive months, with specific models achieving significant sales milestones [3] - Leap Motor's delivery volume for April reached 41,039 units, a 173% year-on-year increase, leading to a stock price increase of over 7% [3] - Xiaomi's automotive division also saw a rise in deliveries, contributing to a stock increase of over 6% [3] Technology Sector - Major US tech companies like Meta, Microsoft, and Apple reported strong earnings, unaffected by tariff issues, and reaffirmed aggressive AI investment plans [4] - The upcoming US non-farm payroll report is anticipated to influence market expectations regarding Federal Reserve interest rate decisions [4] - President Trump's recent sanctions on countries purchasing oil from Iran are viewed as a bargaining chip rather than a definitive policy change [4] Berkshire Hathaway - Berkshire Hathaway's annual shareholder meeting is set to take place, where Warren Buffett will discuss market perspectives and investment strategies, including significant cash reserves [5] Nuclear Energy Development - There is a global surge in the development of small modular reactors (SMRs) driven by climate change initiatives and demand for clean energy [6] - China's advancements in SMR technology are notable, with significant projects like the BEST project aimed at demonstrating fusion energy generation [6] Company Performance - China State Construction International reported a 5.5% year-on-year revenue increase in Q1 2025, with a notable rise in technology-related income [7] - The company’s new contract value decreased by 29.1% year-on-year, but adjusted figures show a strong performance when excluding high baseline effects from previous major projects [8] - The technology segment's revenue contribution increased to 20%, indicating a positive trend in the company's business model and market positioning [8]

智通财经5月2日电，三倍做多富时中国ETF盘初涨近10%，纳斯达克中国金龙指数涨2.7%，阿里巴巴涨 近5%，京东涨4%，小鹏汽车涨超6.5%，金山云涨超7%。 三倍做多富时中国ETF盘初涨近10% ...

● 15年，从破土萌芽，到枝桠参天；从步履蹒跚，到健步如飞。以2010年"十城千辆"为肇始，在新能源汽车产业的强力 牵引下，中国动力电池发展走过了波澜壮阔的15年。 ● 15年，筚路蓝缕，玉汝于成。中国动力电池产业经历了从0到1，从弱小到壮大，从跟随到领跑的完整历程，如今已经 成为中国制造走向全球的"新三样"代表，也成为中国经济转型升级的时代注脚。 ● 以 2025年为转折，中国动力电池产业将开启新的15年征程。瞭望新征程，将会是更具挑战，交通电动化向全场景渗 透，能源体系变革也加速走向纵深，这也意味着，新应用场景开启，新技术与产品创新，新商业模式落地，新的产业生 态与格局。 过去一段时间，一辆小米 SU7 在事故后发生的燃烧悲剧，将三条生命带走的同时，也再次将新能 源汽车的安全隐患置于聚光灯下。 尽管事故的确切原因尚待官方调查结论，但公众的质疑已然集中投向了智能驾驶系统与动力电池安 全 —— 这两项被视为新能源汽车时代 " 标配 " 的核心技术。 一个强烈信号 也正在被释出 ：当任何一项新技术开始告别实验室、迈向规模化应用的阶段，其潜 在的安全风险必将受到社会舆论更密集、甚至更严苛的审视与拷问。 然而，在这 ...

Core Viewpoint - The automotive market in April showed stable growth, with significant contributions from new energy vehicles and new model launches during the Shanghai Auto Show [1][3]. Market Overview - The total retail market size for narrow passenger cars in April is estimated at approximately 1.75 million units, representing a year-on-year increase of 14.4% but a month-on-month decrease of 9.8% [1][3]. - New energy vehicle retail sales are expected to reach 900,000 units, with a penetration rate of 51.4% [1][3]. New Energy Vehicle Performance - Six sample new force car companies (excluding Xiaomi) delivered a total of 175,951 vehicles in April, showing a year-on-year increase of 59.9% and a month-on-month increase of 2.6% [1][3]. Company-Specific Deliveries - **Leap Motor**: Delivered 41,039 units in April, up 173.5% year-on-year and 10.6% month-on-month [2][4]. - **Xpeng**: Delivered 35,045 units, a year-on-year increase of 273.1% and a month-on-month increase of 5.5% [2][6]. - **Li Auto**: Delivered 33,939 units, up 31.6% year-on-year but down 7.5% month-on-month [2][5]. - **Aion**: Delivered 28,301 units, a slight year-on-year increase of 0.7% but a month-on-month decrease of 17.0% [2]. - **NIO**: Delivered 23,900 units, up 53.0% year-on-year and 58.9% month-on-month [2][6]. - **ZEEKR**: Delivered 13,727 units, down 14.7% year-on-year and 11.0% month-on-month [2][7]. - **Xiaomi**: Delivered over 28,000 units, with a new SUV model expected to launch in mid-2025 [2][7]. New Model Launches - The Shanghai Auto Show is expected to boost the market with new model launches, providing new growth momentum for the new energy vehicle sector [1][3]. - Leap Motor's new B10 model features unique laser radar technology and has shown promising initial sales [4]. - Li Auto is launching new models, including the MEGAHome family edition and L6 smart version, which are expected to enhance its competitive edge [5]. - Xpeng's new model, the 2025 X9, was unveiled at the Shanghai Auto Show, targeting the mid-to-large MPV segment [6]. - NIO's new models, including the Firefly and L60, were also showcased at the event [6]. Technological Advancements - The automotive industry is witnessing a shift towards intelligent driving technologies, with companies like Xpeng and Huawei leading the charge in promoting and iterating these technologies [8]. - The advancement of intelligent driving capabilities is expected to lower hardware barriers and expand applications in the mainstream market [8]. Investment Recommendations - The report suggests a positive outlook for companies with strong intelligent driving capabilities and product cycles, recommending stocks such as BYD, Geely, Xpeng, and Li Auto [9].

Market Overview - The Hong Kong stock market opened higher on May 2, with significant gains in the new energy vehicle and AI sectors, leading the Hang Seng Technology Index to rise over 3% at one point [2] - As of the report, the Hang Seng Index increased by 1.33%, while the Hang Seng Technology Index rose by 2.71% [2] AI Sector Developments - On April 30, Xiaomi launched its first open-source inference model, Xiaomi MiMo, which has 7 billion parameters and surpassed OpenAI's closed-source model o1-mini and Alibaba's Qwen model in mathematical reasoning and coding competitions [4] - Following this announcement, Xiaomi Group's stock rose over 4%, and Kingsoft's stock increased by nearly 5% [4] - The AI sector remained active, with Alibaba-W rising over 3%, and SenseTime-W, JD Group-W, and Tencent Holdings all gaining over 2% [4] New Energy Vehicle Sales - The new energy vehicle sector experienced a significant surge, with the Hang Seng Technology Index climbing over 3%, led by XPeng Motors, whose stock rose over 7% [5] - XPeng Motors reported delivering 35,000 new vehicles in April, a year-on-year increase of 273% and a month-on-month increase of 5.5%, marking six consecutive months of deliveries exceeding 30,000 units [8] - Li Auto delivered 33,900 new vehicles in April, reflecting a year-on-year growth of 31.6% [8] - Leap Motor achieved a record high with 41,000 deliveries in April, representing a year-on-year increase of 173% [8] Notable Stock Movements - On May 2, the stock of CanSino Biologics surged over 21% following positive interim results from a clinical study of its HER2 bispecific antibody KN026 for treating HER2-positive gastric cancer [9][11] - The study showed significant improvement in progression-free survival (PFS) compared to existing standard treatments, with a trend towards overall survival (OS) benefits [11] - The product's domestic rights have been sold to CSPC Pharmaceutical Group, with a total upfront and milestone payment of 1 billion yuan and a double-digit sales share [11]