智通财经APP获悉，小鹏汽车-W(09868)盘中涨超4%，截至发稿，涨3.74%，报87.4港元，成交额3.97亿 港元。 消息面上，据小鹏汽车官微消息，近日，亚洲规模最大的飞行汽车企业小鹏汇天在迪拜举办"陆地航 母"首场国际品鉴会。发布会上，汇天发布了其国际新品牌"ARIDGE"，及以汉字"飞"为设计灵感的全新 品牌Logo。同时，汇天宣布其位于中国广州的飞行汽车智造基地已于9月底全面竣工，为2026年量产交 付做好生产准备。值得一提的是，在活动现场，汇天与阿联酋Ali & Sons集团、卡塔尔Almana集团、科 威特AlSayer集团和阿联酋中华工商总会签订中东地区首批600台飞行汽车订购协议，创下该领域海外最 大批量订购纪录。 ...

| 代码 | 名称 | 最新价 | 涨跌幅 √ | | --- | --- | --- | --- | | 09868 | (0) 小鹏汽车-W | 87.350 | 3.80% | | 01211 | 比亚迪股份 | 110.500 | 3.95% | | 09866 | 蔚来-SW | 56.900 | 2.61% | | 00175 | 吉利汽车 | 19.440 | 2.80% | | 09973 | 奇瑞汽车 | 31.460 | 2.34% | | 02473 | 喜相逢集团 | 10.360 | 2.07% | | 01958 | 北京汽车 | 2.080 | 1.46% | | 02015 | 理想汽车-W | 90.400 | 1.63% | | 02238 | 广汽集团 | 3.260 | 0.93% | | 09863 | 零跑汽车 | 62.000 | 0.65% | 港股汽车股集体反弹，其中，小鹏汽车、比亚迪股份涨约4%，蔚来汽车、吉利汽车涨近3%，奇瑞汽车 涨超2%，北京汽车、广汽集团、零跑汽车、理想汽车跟涨。 消息上，乘联分会秘书长崔东树昨日表 示，今年四季度车市在政策引导和高增 ...

10月13日，亿航智能(EH.US)在合肥举办新品发布会，新一代无人驾驶载人航空器VT35在会上发布，中 国市场预售价(标准版)不低于650万元。亿航智能首席运营官王钊表示，VT35由于在设计产品时，零部 件、构型，以及各种部件的配合等，皆按适航审定版本标准执行，因此该产品短期价格不会因适航因素 产生太大变化。他认为，这个售价在市场上具有很大的竞争力，同时该定价也能给公司带来利润。 西南证券认为，国家战略聚焦低空经济新赛道，各地相继出台低空经济发展纲领性政策，国资央企密集 成立低空经济公司。从应用场景来看，低空物流、低空旅游等应用场景先行，其他领域亦在积极探索过 程中。头部eVTOL主机厂订单激增，低空经济产业链规模化发展态势清晰。 国信证券表示，我国无人机产业链全球领先，在无人机领域相关专利申请量约占全球70%，是世界第一 大民用无人机出口国。低空经济商业化场景也很丰富，市场空间巨大。国信证券预计，到2026年低空经 济规模有望突破万亿，达到10644.6亿元；根据中国民航局数据，到2030年，中国低空经济的市场规模 预计将达2.5万亿元，2035年有望达3.5万亿元；据国信证券测算，中期维度，国内eVTO ...

Core Insights - EHang Intelligent (EH.US) launched its new autonomous passenger aircraft VT35 in Hefei, with a pre-sale price starting at 6.5 million yuan, which is considered competitive in the market [1] - The VT35 is designed for medium to long-distance air travel, with a range of 200 kilometers, significantly surpassing the previous EH216 series [1] - The company aims to complete the type certification for VT35 by March 2025, with expectations to finalize the certification process within two years [2] Company Developments - EHang has developed a tilt-rotor version of the VT35, but the composite wing version was prioritized due to its more mature technology [2] - The company has received operational certification but is taking a cautious approach to ensure safety and control [2] Industry Trends - XPeng's flying car, known as "land aircraft carrier," has gained significant interest in the Middle East, with 600 units ordered and a total of 7,000 orders to date [3] - The low-altitude economy in China is projected to exceed 1 trillion yuan by 2026, with a market size of 2.5 trillion yuan expected by 2030 [4] - The domestic eVTOL market is anticipated to surpass 200 billion yuan, with specific segments like sightseeing and commuting showing substantial market potential [4] Related Companies - AVIC (02357) is a key player in the aviation high-tech sector, involved in various aviation products and services [5] - XPeng Motors (09868) plans to begin mass production of its flying car in Q4 of this year [5] - GAC Group (02238) aims to lead in integrated transportation solutions, with plans for demonstration operations starting in 2025 [5]

Core Viewpoint - The Chinese passenger car market experienced significant growth in September, with retail sales reaching 2.241 million units, a year-on-year increase of 6.3% and a month-on-month increase of 11.0%. Cumulatively, retail sales for the year reached 17.005 million units, marking a 9.2% year-on-year growth and setting a new historical peak [1]. Group 1: Market Performance - In September, 11 out of 14 listed car companies reported year-on-year sales growth, accounting for 78.6% of the sample. New energy vehicles (NEVs) were the primary driver of this growth, with total sales exceeding 1.32 million units among the 14 major companies [1]. - The penetration rate of NEVs in the overall passenger car retail market reached 57.8% in September, an increase of 5 percentage points compared to the same period last year. Among domestic brands, the penetration rate for NEVs reached 78.1% [1]. Group 2: Company-Specific Sales Data - SAIC Motor Corporation achieved sales of 439,777 units in September, a year-on-year increase of 40.39%, reclaiming the title of monthly sales champion among Chinese listed car companies after five months. Cumulative sales for the first nine months reached 3.193 million units, up 20.53% year-on-year [2]. - BYD's sales in September were 396,270 units, marking a year-on-year decline of 5.52%, ending an 18-month growth streak. The sales of pure electric models were 205,000 units, up 24.31%, while plug-in hybrid models saw a significant drop of 25.58% [3]. - Geely Automobile reported sales of 273,125 units in September, a year-on-year increase of 35.24%. NEV sales reached 165,201 units, up 81.27%, with a market penetration rate of 60.49% [3]. - Chery Automobile's sales reached 255,584 units in September, a year-on-year increase of 8.90%, with NEV sales at 83,498 units, up 17.24% [4]. - New force in the automotive sector, Leap Motor, achieved a record monthly delivery of 66,657 units in September, a year-on-year increase of 97.4% [4]. Group 3: Market Trends and Future Outlook - The automotive market in September saw the launch of over 70 new models, driven by government subsidies and local purchase incentives, which boosted consumer purchasing enthusiasm [5]. - The Secretary-General of the China Passenger Car Association, Cui Dongshu, indicated that the rapid release of new models, particularly from domestic brands, is enhancing competitiveness in the NEV market. The fourth quarter is expected to maintain stable growth due to policy guidance and a strong growth foundation [5].

| XPEV 小鹏汽车 | | O | | --- | --- | --- | | 21.020 4 -1.890 -8.25% | | 收盘价 10/10 15:59 美东 | | 21.750 + 0.730 +3.47% | | 盘前价 10/13 04:41 美东 | | 一 24 4 4 8 8 8 日 0 00选 | | ● 快捷交易 | | 最高价 22.495 | 开盘价 22.440 | 成交量 1518.05万 | | 最低价 20.845 | 昨收价 22.910 | 成交额 3.25亿 | | 平均价 21.392 | 市盈率ITM 亏损 | 总市值 200.72亿 (... | | 振 幅 7.20% | 市盈率(静) 亏损 | 总股本 9.55亿 | | 换手率 2.27% | 市净率 4.720 | 流通值 140.81亿 | | 52周最高 27.160 | 委 比 -- | 流通股 6.7亿 | | 52周最低 10.420 | 量 比 1.66 | 每 手 1股 | | 历史最高 74.490 | 股息TIM -- | 换股比率 2.00 | | 历史最低 6.180 | ...

Group 1: AI Models and Technologies - Tencent's Hunyuan-Vision-1.5-Thinking ranks third globally and first in China in the latest LMArena visual model rankings, showcasing advanced multi-language and multi-modal understanding capabilities [2] - Alibaba's Lin Junyang announces the establishment of a small team focused on robotics and embodied intelligence, indicating a shift towards foundational intelligent agents capable of long-horizon reasoning [2] - Xiaopeng Motors announces significant breakthroughs in "physical AI," with a new model aimed at enhancing L4 autonomous driving capabilities [5] Group 2: Strategic Partnerships and Collaborations - Silicon-based Flow and China Mobile's Guizhou branch sign a strategic cooperation agreement focusing on collaborative operations and AI infrastructure development [3] - Sairus's subsidiary signs a framework agreement with Volcano Engine to collaborate on embodied intelligence technologies [3] - Worth Buying Technology and Weimeng establish a strategic partnership to develop integrated AI e-commerce services [4] Group 3: Investments and Financial Developments - AMD's CFO states that the partnership with OpenAI is expected to generate hundreds of billions in revenue, with a significant investment in AI infrastructure [12] - Didi Autonomous Driving secures 2 billion yuan in D-round financing to enhance AI research and L4 autonomous driving applications [24] - SoftBank's Graphcore plans to invest 1 billion pounds in India over the next decade to establish an AI engineering park [18] Group 4: Industry Trends and Market Insights - Morgan Stanley reports that AI-related bonds have reached $1.2 trillion, becoming the largest segment in the investment-grade market [26] - The Chinese government aims to establish over 30 new national and industry standards for cloud computing by 2027 [27] - The Ministry of Industry and Information Technology emphasizes the need for enhanced new-type information infrastructure and AI integration in manufacturing [30]

Core Viewpoint - The Hong Kong stock market experienced a collective decline on October 13, with technology stocks falling across the board, while the rare earth sector saw significant gains. The market is expected to face short-term fluctuations, but there are opportunities for low-cost asset acquisition amidst the adjustments [1][2]. Group 1: Market Performance - On October 13, all three major indices in the Hong Kong stock market fell, with technology stocks leading the decline and the rare earth sector rising significantly [1]. - The Hang Seng Technology Index ETF (513180) dropped over 3% in the afternoon, with major holdings like Xiaomi, Sunny Optical, Kuaishou, Xpeng Motors, NIO, Bilibili, and Lenovo Group among the biggest losers [1]. Group 2: Market Outlook - According to Huaxi Securities, the Hong Kong stock market is likely to experience some volatility in the short term, but there are opportunities for low-cost asset acquisition in undervalued stocks with good fundamentals that are less affected by U.S. tariff policies [1]. - Since September, the Hong Kong stock market has regained momentum driven by technology stocks, with current valuations at historical medians, making it attractive compared to A-shares and U.S. stocks [1]. - As of October 10, the latest valuation (PETTM) of the Hang Seng Technology Index ETF (513180) was 23.82 times, which is approximately at the 34.04% valuation percentile since the index's inception, indicating it remains in a relatively undervalued range [1]. Group 3: Future Trends - Looking ahead, the technology sector in Hong Kong is expected to benefit from current trends in AI, with potential for foreign capital inflow exceeding expectations against the backdrop of Federal Reserve interest rate cuts [2]. - The continuous increase in southbound capital suggests that a revaluation of the Hang Seng Technology Index is likely in the fourth quarter, providing an opportunity for investors without a Hong Kong Stock Connect account to access core Chinese AI assets through the Hang Seng Technology Index ETF (513180) [2].

Core Insights - The overall retail sales of passenger cars in China reached 2.241 million units in September, marking a year-on-year increase of 6.3% and a month-on-month increase of 11.0% [1] - Cumulative retail sales for the year have reached 17.005 million units, representing a year-on-year growth of 9.2%, setting a new historical peak [1] - New energy vehicles (NEVs) have been the primary driver of sales growth, with 14 major car manufacturers collectively selling over 1.32 million NEVs in September [1] Industry Performance - The penetration rate of NEVs in the domestic passenger car market reached 57.8% in September, an increase of 5 percentage points compared to the same period last year [1] - Domestic brands achieved a NEV penetration rate of 78.1% [1] Company Performance - SAIC Motor Corporation achieved sales of 439,777 units in September, a year-on-year increase of 40.39%, reclaiming the title of monthly sales champion among Chinese listed car companies [2] - BYD's sales in September were 396,270 units, a decline of 5.52%, marking the first month of year-on-year decline since March 2024 [3] - Geely Automobile reported sales of 273,125 units in September, a year-on-year increase of 35.24%, with NEV sales reaching 165,201 units, up 81.27% [3] - Chery Automobile's sales reached 255,584 units in September, a year-on-year increase of 8.90%, with NEV sales of 83,498 units, up 17.24% [4] - Leap Motor achieved a remarkable sales increase of 97.4% in September, with 66,657 units delivered, setting a new record for new car manufacturers [5] Market Trends - The automotive market in September saw over 70 new car models launched, contributing to increased consumer purchasing enthusiasm [5] - The fourth quarter is expected to maintain stable growth, driven by policy guidance and high growth foundations, with an anticipated increase in consumer purchases before the adjustment of NEV tax policies in 2026 [6]

每经AI快讯，10月13日，港股汽车股延续下跌，截至发稿，小鹏汽车-W(09868.HK)跌3.73%，报83.8港 元；理想汽车-W(02015.HK)跌2.66%，报89.7港元；广汽集团(02238.HK)跌2.43%，报3.21港元；长城汽 车(02333.HK)跌1.86%，报16.34港元。 ...