证券代码：000572 证券简称：海马汽车 公告编号：2025-37 海马汽车股份有限公司 股票交易异常波动公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记 载、误导性陈述或重大遗漏。 一、股票交易异常波动情况 海马汽车股份有限公司（以下简称"公司"）股票连续 2 个交易日 （2025 年 11 月 4 日、2025 年 11 月 5 日）收盘价涨幅偏离值累计超过 20%。根据《深圳证券交易所交易规则》的相关规定，属于股票交易异常 波动情形。 二、公司关注并核实的相关情况 1.经核实，公司前期披露的信息不存在需要更正、补充之处。 2.未发现近期公共传媒报道了可能或已经对公司股票交易价格产生 较大影响的未公开重大信息。 三、是否存在应披露而未披露信息的说明 公司董事会确认，公司目前没有任何根据《深圳证券交易所股票上 市规则》等有关规定应予以披露而未披露的事项或与该事项有关的筹划、 商谈、意向、协议等；公司董事会也未获悉公司有根据《深圳证券交易 1 所股票上市规则》等有关规定应予以披露而未披露的对公司股票及其衍 生品种交易价格产生较大影响的信息；公司前期披露的信息不存在需要 更正、补充之 ...

Core Viewpoint - Haima Automobile announced that its stock price experienced an abnormal fluctuation, with a cumulative increase of over 20% in closing price deviation over two consecutive trading days on November 4 and 5, 2025 [1] Financial Performance - For the period of January to September 2025, the company reported a net profit of -74.4371 million yuan, representing a year-on-year decline of 232.68% [1] Market Activity - The company confirmed that there were no undisclosed significant information affecting the stock price, and there were no major changes in the operating and external environment [1] - During the period of abnormal fluctuation, no related personnel engaged in buying or selling the company's stock [1]

Market Overview - A-shares experienced a collective rise with the Shanghai Composite Index up 0.23%, Shenzhen Component Index up 0.37%, and ChiNext Index up 1.03% [1] - The total market turnover was 1.8943 trillion yuan, a decrease of 44.1 billion yuan from the previous day [1] Sector Performance - The market saw active rotation of hotspots, with nearly 3,400 stocks rising [2] - Sectors such as power grid equipment, Hainan, and batteries led the gains, while quantum technology and gaming sectors faced declines [3] Independent Market Movement - Despite significant declines in US and Asian markets, A-shares showed resilience, with the Shanghai Composite Index increasing [10] - The US government shutdown has led to liquidity withdrawal, which may create financial risks for high-leverage hedge funds if not addressed [7] Monetary Policy and Liquidity - The People's Bank of China conducted a 700 billion yuan reverse repurchase operation, injecting a net 142.3 billion yuan into the market, indicating continued liquidity support [12] - The Chinese warehousing index rose to 50.6 in October, reflecting stable economic vitality [12] AI and Power Supply - The power grid equipment sector surged, with stocks like Shuangjie Electric and Zhongzhi Technology hitting the daily limit of 20% increase [14] - Microsoft CEO Satya Nadella highlighted that the AI industry's key issue is not excess computing power but rather insufficient electricity to support GPU operations [14] Hainan Free Trade Zone - The Hainan Free Trade Zone sector continued to perform well, with stocks like Intercontinental Oil and Caesar Travel reaching their daily limit [16] - New policies effective from November 1 aim to enhance the duty-free shopping experience, expanding product categories and increasing the annual duty-free limit for travelers [18]

Market Overview - The three major A-share indices collectively rose today, with the Shanghai Composite Index increasing by 0.23% to close at 3969.25 points, the Shenzhen Component Index rising by 0.37% to 13223.56 points, and the ChiNext Index up by 1.03% to 3166.23 points [1] - The total trading volume in the Shanghai and Shenzhen markets was 187.23 billion, a decrease of 43.4 billion compared to the previous day [1] Sector Performance - Most industry sectors experienced gains, with notable increases in the following areas: electric grid equipment, batteries, photovoltaic equipment, wind power equipment, power supply equipment, coal industry, and fertilizer industry [1] - The insurance and software development sectors saw the largest declines [1] Stock Performance - Approximately 3400 stocks rose, with over 80 stocks hitting the daily limit [1] - The electric grid equipment sector saw a surge, with stocks such as Shuangjie Electric (300444), Zhongzhi Technology (301361), Jinguang Electric, and Zhongneng Electric (300062) reaching the daily limit [1] - The Hainan sector strengthened again, with Haima Automobile (000572) and other stocks hitting the daily limit [1] - The Fujian sector was active, with XG Group (600815) achieving two consecutive limit-ups [1] - The broad consumer concept stocks collectively strengthened, with companies like Caesar Travel (000796) and Anji Food (603696) also hitting the daily limit [1] - The energy storage sector led the gains, with Tongrun Equipment (002150) hitting the limit and reaching a new high, while Aters also reached the daily limit [1] Fund Flow - In terms of industry fund flows, electric grid equipment, photovoltaic equipment, and batteries ranked high in net inflows, with electric grid equipment seeing a net inflow of 6.31 billion [2] - Conversely, the software development, semiconductor, and internet services sectors experienced significant net outflows, with software development facing a net outflow of 4.675 billion [4]

Core Viewpoint - Haima Automobile's stock reached a daily limit of 8.79 yuan on November 5, driven by favorable policies and operational improvements [1] Summary by Relevant Sections Stock Performance - On November 5, Haima Automobile closed at 8.79 yuan, hitting the daily limit with a closing price increase of 10.01% [1] - The stock did not open its limit and had a closing order volume of 304 million yuan, accounting for 2.11% of its market capitalization [1] Factors Influencing Stock Price - The stock's surge is attributed to the accelerated release of Hainan Free Trade Port policy dividends, benefiting Haima as the only new energy passenger vehicle manufacturer in Hainan [1] - The company has made significant progress in its hydrogen energy business, with the 7X-H model demonstrating over 800,000 kilometers of operation and receiving government rewards [1] - By the first half of 2025, overseas revenue is expected to account for 72.96%, indicating the effectiveness of the export diversification strategy [1] - Operational efficiency has improved, with a 9.89% year-on-year increase in revenue and a 50.85% reduction in loss margin [1] Capital Flow Data - On November 5, the net inflow of main funds was 38.08 million yuan, representing 7.24% of the total transaction volume [1] - Retail investors experienced a net outflow of 5.29 million yuan, accounting for 1.01% of the total transaction volume [1] - Over the past five days, the stock has shown varying capital flows, with significant net inflows and outflows from different investor categories [1] Industry Context - The stock is categorized under Hainan concept, sharing economy, and new energy vehicle sectors, with respective increases of 5.04%, 1.65%, and 1.63% on the same day [1]

Market Performance - The three major indices opened lower but closed higher, with the Shanghai Composite Index rising by 0.23%, the Shenzhen Component Index by 0.37%, the ChiNext Index by 1.03%, and the STAR Market 50 Index by 0.23% [2] - Over 3,100 stocks in the two markets rose, with a total trading volume of approximately 1.87 trillion yuan [2] Hainan Sector - The Hainan sector saw significant gains, with companies like Hainan Development, Haima Automobile, and Hainan Strait Holdings experiencing substantial increases [3] - A new duty-free shopping policy in Hainan, effective from November 1, expands the range of duty-free goods and increases the annual duty-free allowance for travelers to 100,000 yuan, enhancing shopping options for tourists [3] - The Hainan Free Trade Port is set to officially start operations on December 18, further boosting the sector [3] Electric Equipment Sector - The electric equipment sector performed strongly, with companies like Zhongneng Electric and Jinpan Technology seeing gains of nearly 20% [3] - Microsoft CEO Satya Nadella highlighted a power shortage as a key issue for the AI industry, indicating a potential increase in demand for electric equipment to support GPU operations [3] Energy Storage and Lithium Battery Sector - Dongwu Securities revised its forecast for U.S. energy storage installations in 2026 to 76 GWh, a year-on-year increase of nearly 44%, with significant contributions from data centers [4] - The lithium battery supply chain is experiencing active orders, with a year-on-year production increase of 35% reported for major battery manufacturers [4] - Prices for key lithium battery materials have seen a rebound, with lithium carbonate rising to 80,600 yuan per ton and lithium hexafluorophosphate increasing by 46.4% [4] Coal and Steel Sector - The coal and steel sectors showed strong performance, with companies like Antai Group and Vanadium Titanium Holdings rising by 10% [5] - CITIC Securities anticipates a quarter-on-quarter increase of over 15% in the average price of thermal coal at ports, with potential price peaks exceeding 850 yuan per ton [5] - The sector is expected to maintain a rebound due to improvements in policy, coal prices, and earnings expectations [5] Weak Sectors - The innovative drug and semiconductor sectors faced declines, with companies like 3SBio and Hua Hong Semiconductor experiencing significant drops [5] - The liquor and gaming sectors also weakened, with Perfect World and Kweichow Moutai seeing notable declines [5]

Market Overview - The Asian stock markets collectively declined due to the impact of the U.S. stock market's "Black Tuesday," but the A-shares exhibited independent performance, with the Shanghai Composite Index rising by 0.23% to 3969 points, the Shenzhen Component Index increasing by 0.37%, and the ChiNext Index gaining 1.03% [1] - The total market turnover was 1.89 trillion yuan, a decrease of 441 billion yuan compared to the previous trading day, with nearly 3400 stocks rising [1] Sector Performance - The Hainan sector was notably active, with stocks like Haima Automobile and Haixia Shares hitting the daily limit [2] - The State Grid completed fixed asset investments exceeding 420 billion yuan, leading to significant gains in the electric grid equipment, ultra-high voltage, and smart grid sectors, with stocks like Jinguang Electric and TBEA also hitting the daily limit [2][4] - The titanium dioxide and photovoltaic equipment sectors showed strength, while the recombinant protein sector declined, with Sanofi falling over 8% [2] Notable Stocks - Electric grid equipment stocks saw widespread gains, with Saneng Electric hitting the daily limit with a 29.96% increase, and other stocks like YN Electric and Shuangjie Electric also experiencing significant rises [4][5] - Hainan and duty-free store sectors were strong, with Jinguang Technology rising over 18%, and several other stocks in the sector hitting the daily limit [6][7] - Coal stocks also performed well, with Antai Group and TBEA hitting the daily limit, and other stocks like Dayou Energy and Blue Flame Holdings following suit [8][9] - The titanium dioxide sector surged, with stocks like Vanadium Titanium and Guocheng Mining seeing substantial increases [10] Declining Sectors - The quantum technology sector experienced a pullback, with stocks like Fujida and Keda Guochuang dropping over 7% [11][12] - Semiconductor stocks also fell, with Zhongjing Technology declining over 6%, along with other notable declines in the sector [13] Future Outlook - Guotai Junan believes that the "transformation bull" in China is far from over, with expectations for the market to challenge ten-year highs due to economic transformation and capital market reforms [13]

Core Insights - The Hainan Free Trade Zone concept is gaining momentum, with the sector index rising over 5% today and accumulating a 17% increase over the past six trading days [1] - The Hainan Free Trade Port is set to officially start its full island closure operation on December 18, 2025, marking a significant milestone in its development [2][3] Stock Performance - Notable stock performances include: - Jinpan Technology up by 17.73% to 87.00 - Intercontinental Oil & Gas up by 10.16% to 2.82 - Caesar Travel Industry up by 10.01% to 7.47 - Haima Automobile up by 10.01% to 8.79 - Hainan Airport up by 5.89% to 5.75 [2] Policy Developments - The new duty-free shopping policy in Hainan, effective from November 1, has shown initial positive effects, with a 6.1% increase in sales on the first day compared to the previous day [3] - The "15+15+zero tariff" tax policy provides a competitive advantage, with significant tax reductions for businesses operating in the Hainan Free Trade Port [5] Economic Outlook - The overall performance of Hainan-listed companies is improving, with a 24.92% year-on-year increase in net profit to 3.584 billion yuan in the first three quarters of this year [9] - Companies like HNA Holding, Jinpan Technology, and Zhongtung High-tech have reported double-digit growth in profits [10] Future Investment Trends - The upcoming full closure operation is seen as a turning point for investment logic in Hainan, shifting focus from consumer-driven themes to B2B industrial upgrades and high-value service sectors [11] - Key investment areas include modern logistics and trade services, high-tech and green energy sectors, and high-value "tourism+" services such as medical care and international education [11]

Core Viewpoint - The market experienced a low opening but rebounded by midday, indicating resilience despite a decrease in trading volume, suggesting caution among investors [1][5]. Group 1: Market Performance - The three major indices opened lower, but by midday, the Shanghai Composite and ChiNext indices turned positive, with the Shenzhen Component only down 0.15% [1]. - Over 3,000 stocks in the market saw gains, indicating a broad recovery despite initial fears [1]. Group 2: Sector Highlights - The Hainan Free Trade Zone and electric grid equipment sectors performed exceptionally well, with stocks like Haima Automobile achieving four consecutive daily limits and several others hitting daily limits as well [3]. - The semiconductor and quantum technology sectors faced notable declines, attributed to profit-taking rather than fundamental issues [3][4]. Group 3: Trading Strategy - For investors holding stocks in the Hainan and electric grid sectors, it is advised to avoid overextending positions and to monitor trading volume before making further investments [3][5]. - Investors with semiconductor and quantum technology stocks should hold if the companies' fundamentals remain strong, as short-term adjustments are normal [4]. - New investors are encouraged to avoid chasing stocks that have already surged significantly and instead look for reasonably valued stocks in related sectors or those with solid earnings support [4].

Market Overview - A-shares opened lower on November 5, with the Shanghai Composite Index and ChiNext Index rebounding into positive territory, while the Shenzhen Component Index found strong support at 13,000 points [1] - By midday, the Shanghai Composite Index and ChiNext Index had turned positive [1] Sector Performance - The Hainan Free Trade Zone, tourism, forestry, and power grid equipment sectors saw significant gains, while gaming, communication equipment, consumer electronics, and quantum technology sectors experienced declines [1] - The Hainan sector has been strong recently, with a notable increase of over 6% on the day, reaching a new high in over seven years [3] Notable Stocks - Haima Automobile hit the daily limit up for the fourth consecutive day, reaching a ten-year high [3] - Haixia Co. also quickly reached its daily limit up, achieving a historical high [3] - Caesar Travel, Yingxin Development, Dongbai Group, and Palm Holdings saw their stock prices surge, with several hitting the daily limit up [7] Policy Impact - The implementation of the Hainan duty-free shopping policy on November 1 showed immediate effects, with a 6.1% increase in sales on the first day compared to the previous day [5] - The Hainan Free Trade Port is set to fully close by December 18, 2025, expanding the range of zero-tariff goods significantly, which is expected to enhance policy benefits [5] Future Outlook - CITIC Securities believes the closure will significantly impact trade and help Hainan accelerate its development as an international tourism consumption center, benefiting various stakeholders in the tourism industry [6] - The announcement of holiday arrangements for 2026 has led to a surge in travel bookings, indicating strong consumer interest in travel during the upcoming holiday periods [9]