Core Viewpoint - The article discusses the performance of the electric vehicle sector, particularly focusing on Xiaopeng Motors (09868), which is currently experiencing a bearish trend with technical indicators suggesting a potential buying opportunity due to oversold conditions [1][4]. Group 1: Company Performance - Xiaopeng Motors' stock closed at 72.65 HKD, down 1.29% with a trading volume of 828 million HKD, indicating a bearish trend as it is below the MA10 (78.25 HKD), MA30 (77.58 HKD), and MA60 (81.84 HKD) [1]. - The RSI for Xiaopeng Motors is at 37, indicating it is in the oversold territory, which suggests that the downward momentum may be exhausting, providing a potential buying signal [1]. - Other companies in the sector showed mixed performance, with NIO (09866) slightly up by 1.83% to 36.68 HKD, BYD (01211) down 0.20% to 98.3 HKD, Geely (00175) down 0.54% to 16.53 HKD, and Li Auto (02015) down 0.68% to 65.3 HKD [1]. Group 2: Technical Analysis - Resistance levels for Xiaopeng Motors are at 77.3 HKD and 81.2 HKD, while support levels are at 70.8 HKD and 65.2 HKD, indicating the need to break through the MA10 and 77.3 HKD resistance to reverse the bearish trend [2]. - The article highlights that NIO and Geely are also showing buying signals due to their RSI nearing the oversold zone, while BYD's RSI is at 55, indicating a neutral to strong position [1]. Group 3: Derivative Products - The article reviews the performance of derivative products related to Xiaopeng Motors, noting that put options and bear certificates have performed well amid the stock's decline, with HSBC's bear certificate (55985) rising by 27% over two days [4]. - Two selected products are highlighted: 1. Morley Put Option (22381) with a leverage of 2.4 times and a strike price of 78.63 HKD, noted for its low premium and volatility, suitable for short-term adjustments [7]. 2. HSBC Bull Certificate (59442) with a leverage of 11.4 times and a recovery price of 68.68 HKD, recommended for investors expecting a rebound from the oversold area [7].

Core Viewpoint - The introduction of 7-year low-interest financing plans by various electric vehicle manufacturers aims to stimulate market demand amid a competitive landscape and inventory pressure, but the actual effectiveness of these plans remains to be seen [1][9]. Financing Plans Overview - Major brands like Tesla, Xiaomi, Li Auto, and Xpeng have launched or enhanced 7-year low-interest financing options since January 2026, extending traditional auto loan periods by 2 to 3 years [1]. - Monthly payments have significantly decreased due to longer loan terms, with Xiaomi's YU7 starting at 2,593 yuan, Xpeng's models at 1,355 yuan, Li Auto at 2,578 yuan, and Tesla's Model 3/Y/Y L at 1,918 yuan [1]. Tesla's Financing Options - Tesla offers two different 7-year financing plans based on down payment amounts, with annualized rates of 0.7% for a 15% down payment and 0.5% for a 30% down payment, translating to effective annual rates of 1.36% and 0.98% respectively [2][4]. - The minimum down payment for Tesla's plans is 79,900 yuan for the high down payment option and 45,900 yuan for the low down payment option [2]. Xiaomi's Financing Details - Xiaomi's 7-year low-interest plan requires a minimum down payment of 20%, with an annualized rate of 1% and an effective annual rate of 1.93% [3]. - For the YU7 standard version priced at 253,500 yuan, the minimum down payment is 49,900 yuan, with a monthly payment of 2,593.48 yuan and total interest over 7 years amounting to 14,252.28 yuan [3]. Li Auto and Xpeng Financing Plans - Li Auto's financing plan varies by model, with the i8 and MEGA models offering 3 years of interest-free payments followed by a 2.5% annualized rate, while other models have a 2.5% rate as well [3]. - Xpeng offers a 7-year financing option with a minimum down payment of 15% and an annualized rate of 1.5%, resulting in an effective annual rate of 2.86% [3]. Market Dynamics and Consumer Behavior - Sales personnel from various brands express differing opinions on the 7-year financing plans, with some recommending 5-year plans due to lower total interest payments [6][7]. - The overall sentiment among sales staff is that the 7-year low-interest plans are designed to lower the barrier to vehicle ownership, although they acknowledge that the effectiveness of these plans may be limited by consumer credit qualifications [8][9]. Industry Trends and Predictions - The automotive market is experiencing a significant decline, with retail sales down 28% year-on-year and wholesale sales down 35% in early January 2026 [8]. - Analysts predict a continued downturn in the Chinese passenger vehicle market, with potential sales dropping to 28.5 million units in 2026, a 5% decrease from the previous year [8].

零部件： 1）智能化：推荐智能驾驶-【伯特利、地平线机器人、科博达】，智能座舱-【继峰股份】； 2）新势力产业链：推荐H 链-【星宇股份、沪光股份】；推荐T 链-【拓普集团、新泉股份、双环传 动】；3）出海链：推荐【爱柯迪、中鼎股份】。 机器人：推荐汽配机器人标的【拓普集团、新泉股份、伯特利、银轮股份、均胜电子、沪光股份、豪能 股份、爱柯迪、双环传动、隆盛科技】，汽车机器人主机厂【小鹏汽车】。 摩托车：推荐中大排量龙头车企【春风动力、隆鑫通用】。 轮胎：推荐【赛轮轮胎、森麒麟】。 本周行情：汽车板块本周表现优于市场。汽车板块本周表现优于市场。本周（1 月19 日-1 月25 日）A 股汽车板块上涨2.6%，在申万子行业中排名第14 位，表现优于沪深300（-0.6pct）。细分板块中，汽车 服务、商用载货车、汽车零部件、摩托车及其他、商用载客车分别上涨6.9%、4.8%、4.0%、1.4%、 0.7%，乘用车-1.4%。 本周观点：本月建议关注核心组合【吉利汽车、小鹏汽车、比亚迪、伯特利、拓普集团、新泉股份、春 风动力】。 特斯拉计划2027 年面向公众销售机器人，关注机器人板块。智通财经1 月22 日报道， ...

小鹏汽车(XPEV.US)盘前涨约4%报19.26美元。消息上，小鹏汽车副董事长兼联席总裁顾宏地在接受媒 体采访时表示，预计小鹏今年将实现"非常强劲"的增长。顾宏地称，海外市场的销售增长速度可能会超 过国内。此外据悉，小鹏汇天传出IPO动向。1月12日，据多家媒体消息，小鹏汇天已秘密向港交所提 交IPO申请，摩根大通、摩根士丹利两家投行被选为联席保荐人，上市进程有望最快于今年内完成。 | XPEV 小鹏汽车 | | | | --- | --- | --- | | 18 570 J -0.220 -1.17% | | 收盘价 01/27 16:00 美东 | | 19.260 + 0.690 +3.72% | | 盘前价 01/28 04:03 美东 | | 一 7 24 4 8 8 8 日 9 白 2 | | ● 快捷交易 | | 最高价 18.815 | 开盘价 18.810 | 成交量 404.59万 | | 最低价 18.555 | 昨收价 18.790 | 成交额 7540.68万 | | 平均价 18.637 | 市盈率TIM 亏损 | 总市值 177.5亿 (--) | | 振 幅 1.38% | ...

本文源自：金融界AI电报 港股汽车股午后持续走高，理想汽车(02015.HK)、比亚迪股份(01211.HK)涨超4%，蔚来汽车(09866.HK) 涨近4%，小鹏汽车(09868.HK)、长城汽车(02333.HK)涨超2%。 ...

每经AI快讯，港股汽车股午后走高。截至发稿，理想汽车-W(02015.HK)涨4.44%，报68.2港元；比亚迪 股份(01211.HK)涨4.17%，报102.4港元；蔚来-SW(09866.HK)涨3.65%，报38.02港元；小鹏汽车- W(09868.HK)涨3.23%，报75港元。 ...

港股汽车股午后持续走高，理想汽车(02015.HK)、 比亚迪股份(01211.HK)涨超4%，蔚来汽车 (09866.HK)涨近4%，小鹏汽车(09868.HK)、 长城汽车(02333.HK)涨超2%。 ...

智通财经APP获悉，汽车股午后走高，截至发稿，理想汽车-W(02015)涨4.44%，报68.2港元；比亚迪股 份(01211)涨4.17%，报102.4港元；蔚来-SW(09866)涨3.65%，报38.02港元；小鹏汽车-W(09868)涨 3.23%，报75港元。 消息面上，银河证券指出，展望2026年，国内市场方面，尽管2026年新能源车购置税由免征改为减半征 收（5%），"两新"政策调整为按照车价给予额定比例补贴，政策支持存在边际递减效应，但2026年 是"十五五"开局之年，促销费仍是重点工作之一，预计"两新"政策延续仍将为国内车市提供一定的支撑 作用；海外市场方面，预计自主品牌新能源产品的国际市场影响力将继续提升，引领海外市场新能源转 型，我国汽车出口有望继续向好。国内政策优化延续叠加海外出口向好有望支撑2026年车市销量稳中向 好。 ...

消息面上，银河证券指出，展望2026年，国内市场方面，尽管2026年新能源车购置税由免征改为减半征 收(5%)，"两新"政策调整为按照车价给予额定比例补贴，政策支持存在边际递减效应，但2026年是"十 五五"开局之年，促销费仍是重点工作之一，预计"两新"政策延续仍将为国内车市提供一定的支撑作 用；海外市场方面，预计自主品牌新能源产品的国际市场影响力将继续提升，引领海外市场新能源转 型，我国汽车出口有望继续向好。国内政策优化延续叠加海外出口向好有望支撑2026年车市销量稳中向 好。 汽车股午后走高，截至发稿，理想汽车-W(02015)涨4.44%，报68.2港元；比亚迪（002594）股份(01211) 涨4.17%，报102.4港元；蔚来-SW(09866)涨3.65%，报38.02港元；小鹏汽车-W(09868)涨3.23%，报75港 元。 ...

Domestic News - The Ministry of Transport has implemented a policy to waive toll fees for small passenger vehicles (7 seats or fewer) during the Spring Festival holiday [2] - The Ministry's notice emphasizes the need to enhance charging infrastructure for electric vehicles, proposing tailored strategies for busy service areas to reduce long wait times for charging [2] Industry Insights - In 2025, profits for large-scale high-tech manufacturing industries are expected to grow by 13.3% year-on-year, surpassing the overall industrial profit growth of 12.7% [3] - The smart electronics sector is driving significant profit increases, with profits in the smart consumer device manufacturing sector rising by 48%, and specific industries like smart drones and smart vehicle equipment seeing profits increase by 102% and 88.8%, respectively [3] - The automotive industry is projected to generate profits of 461 billion yuan in 2025, reflecting a modest year-on-year increase of 0.6% [4] - The automotive sector's revenue is expected to reach 1,117.96 billion yuan, with production figures at 34.78 million vehicles, marking a 10% increase year-on-year [4] International News - The EU has announced a trade agreement with India, granting EU service providers preferential access in key sectors such as finance and maritime services, while gradually reducing automotive tariffs to 10% with an annual quota of 250,000 vehicles [5] - Stellantis Group reported that despite a sluggish market, it expects to sell over 2.42 million new vehicles in Europe in 2025, achieving a market share of 16% [6] - The company leads the hybrid vehicle market with a 15% share and holds a 28.6% share in the commercial vehicle sector [6] - The European new car registration is projected to grow by 2.4% in 2025, reaching 13.3 million units, with electric vehicle registrations surging by 30% [7] - In Vietnam, the automotive market is expected to grow by 22% in 2025, although major players like Hyundai and Kia are experiencing declining sales for the third consecutive year [8] - South Africa's electric vehicle sales are projected to decline by 17% in 2025, accounting for only 0.17% of total new car sales, despite overall new car sales reaching a decade-high of 596,818 units [9] Corporate News - BYD has signed a long-term strategic cooperation memorandum with ExxonMobil, focusing on innovation in new energy hybrid technology and collaborative product development [10] - Li Auto plans to close a small number of underperforming stores as part of normal operational adjustments, clarifying that rumors of closing 100 stores are unfounded [11] - Didi plans to enhance the experience of its ride-hailing services in 2026, focusing on improving driver service levels and optimizing vehicle offerings [12] - DeepWay has completed a Pre-IPO financing round of 1.177 billion yuan, marking the largest single financing in the autonomous driving new energy heavy truck sector [13] - XPeng Motors anticipates "very strong" growth this year, with overseas sales growth potentially outpacing domestic sales [14]