比亚迪股份有限公司（以下简称"公司"）于2024年10月18日召开了第八届 董事会第十次会议及第八届监事会第七次会议，并于2024年11月5日召开了2024 年第二次临时股东会，通过了《关于审议<比亚迪股份有限公司2024年员工持股 计划（草案）>及其摘要的议案》、《关于审议<比亚迪股份有限公司2024年员工 持股计划管理办法>的议案》及《关于提请股东会授权董事会及其授权人士全权 办理比亚迪股份有限公司2024年员工持股计划相关事项的议案》。具体内容详见 公司在巨潮资讯网（www.cninfo.com.cn）上披露的《比亚迪股份有限公司2024 年员工持股计划》（以下简称"本员工持股计划"）及其他相关公告。 根据《关于上市公司实施员工持股计划试点的指导意见》及《深圳证券交易 所上市公司自律监管指引第1号——主板上市公司规范运作》的相关规定，本员 工持股计划第一个锁定期已于2025年11月27日届满，现将本员工持股计划第一个 锁定期届满的相关情况公告如下： 一、本员工持股计划持股情况和第一个锁定期届满的情况说明 截至2024年11月27日，本员工持股计划已通过二级市场以集中竞价交易的方 式累计买入公司股票664 ...

Core Viewpoint - Several companies, including BYD, Anta Group, Li Ning Group, 361° Group, and Xtep Group, have announced significant donations to support victims of a severe fire in Hong Kong's Tai Po district, demonstrating corporate social responsibility and community support during crises [1][3][7][10]. Company Contributions - **BYD**: Donated 10 million HKD for medical assistance, emergency housing, and disaster recovery efforts, while expressing respect for frontline rescue workers [1]. - **Anta Group**: Committed a total of 30 million HKD, which includes 10 million HKD in cash and 20 million HKD in cold-weather gear, aimed at providing emergency housing and basic living support for affected individuals [3]. - **361° Group**: Announced a donation of 15 million HKD in cash and equipment to support local rescue and housing efforts, emphasizing collaboration with the community [5][6]. - **Li Ning Group**: Pledged 20 million HKD in cash and equipment to assist affected residents in overcoming the disaster [7]. - **Xtep Group**: Also donated 20 million HKD in cash and equipment specifically for the disaster relief and housing needs of the affected community [10].

Group 1 - BYD showcased its brands at the Guangzhou Auto Show, including the Dynasty and Ocean series, along with its technology exhibits such as the "God Eye" and "Megawatt Flash Charge" [1][3] - The Han L and Tang L models feature the Super e-platform with "Megawatt Flash Charge" technology, addressing electric vehicle charging anxiety, and come with new driving assistance features and upgraded safety configurations [3] - The Han L EV and DM models are priced between 204,800 to 264,800 CNY and 194,800 to 244,800 CNY respectively, while the Tang L EV and DM models are priced between 224,800 to 274,800 CNY and 214,800 to 270,800 CNY respectively, with a maximum purchase incentive of 52,000 CNY [3] Group 2 - Yangwang showcased its limited edition supercar U9 Xtreme and the luxury SUV U8L, highlighting its achievements in speed and lap records [5] - The Yangwang U7 introduced a new color option and a brand philosophy of "Free Control," while the U8L has been well-received in the market [5] Group 3 - Tengshi presented its family of models, including the N8L, D9, N9, and Z9, emphasizing its advancements in safety, control, and smart technology [7][8] - The Tengshi D9 is approaching a milestone of 300,000 deliveries and has been the best-selling model in the Chinese new energy MPV market from January to October 2025 [7] - The N9 and N8L are positioned as flagship SUVs with advanced driving assistance features, while the Z9GT and Z9 are highlighted as luxury sports models [8] Group 4 - Equation Leopard introduced four models under the Leopard Titanium series, with the Titanium 7 becoming a popular model, achieving sales of 20,024 units in its first full month [10] - The Titanium 7's high-end Ultra version accounts for over 85% of its sales, and the company is working to increase production capacity for faster deliveries [10]

据 香港交易所 披露，摩根大通对 比亚迪 股份有限公司- H股的多头持仓比例于2025年11月24日从6.12% 降至5.94%。 ...

Core Viewpoint - Meidel is preparing for its listing review at the Beijing Stock Exchange amid challenges in the new energy sector and tightening regulatory scrutiny [1] Group 1: Financial Performance - In the first half of 2025, Meidel's revenue increased by 35.13% year-on-year, and its net profit attributable to the parent company, excluding non-recurring items, grew by 63.15% [1] - The gross profit margin improved by approximately 4 percentage points during the same period [1] - Major clients contributed significantly to revenue, with BYD accounting for 31.55% and Xian Dao Intelligent contributing 25.42%, together making up 57% of total sales [1] Group 2: Client Dependency and Market Dynamics - The sales contribution from the top five clients fluctuated between 47.5% and 62.75%, indicating a high dependency on a few key customers [1] - Despite Xian Dao Intelligent experiencing an 83.88% decline in net profit in 2024, Meidel's sales to this client increased by 28% [1] Group 3: Profitability and Industry Comparison - Meidel's gross profit margins for 2022-2024 were 36.80%, 33.27%, and 33.60%, significantly higher than the industry averages of 32.11%, 31.52%, and 31.34% during the same period [1] - In the first half of 2025, while the industry gross profit margin fell to 29.85%, Meidel maintained a relatively stable margin [1] Group 4: Research and Development - Meidel's R&D expense ratios for 2022-2024 were 4.18%, 4.26%, and 4.9%, notably lower than the industry averages of 7.19%, 7.10%, and 7.66% [2] - As of June 2025, the company employed 214 R&D personnel, which is only 54% of the comparable company Yihua's 396 employees [2] Group 5: Operational Efficiency - The amount spent on labor outsourcing decreased from 105 million to 56.57 million yuan, while the number of production staff was reduced by 27%, yet productivity per employee increased by 34.4% [2] - The acceptance cycle for products extended from 10 months to 20 months, raising questions about cost accounting accuracy [2]

今天，比亚迪（002594）集团品牌及公关处总经理李云飞 在微博上宣布："同心守望，共克时艰！比亚迪捐赠1000万港元，紧急驰援香港大埔火灾救援！ " 官方表示，捐款将用于受灾居民医疗救助、紧急安置及灾后重建等工作。同时向所有奋战一线的消防及救援人员，致以最崇高的敬意！ D - 60 - 12 比亚迪捐赠1000万港元 紧急驰援香港大埔火灾救援 11月26日下午,香港新界大埔屋邨宏福苑多栋住宅楼 发生火灾,造成重大损失,牵动着社会各界的心。 比亚迪(香港)捐赠1000万港元,用于受灾居民医疗 救助、紧急安置及灾后重建等工作。同时,我们向所有奋 战一线的消防及救援人员,致以最崇高的敬意! 比亚迪将持续关注救援进展,与香港同胞同心守望, 共克时艰! 比亚迪 2025年11月27日 a M r 12 12 1 T HEND - 1 座 guille 7 the consisted on and and a NAMILE THERE . 44 Th or of the state fit ...

监管要求结合订单规模、市场价格竞争、额外成本等情况分析毛利率偏低且下降的原因，美德乐的解释 停留在概括性描述层面：将原因归结为向相关大型客户销售规模较大、价格竞争激烈，叠加2023年度和 2024年度市场竞争加剧的影响，且执行的部分大型项目因发生额外成本导致毛利率相对较低。这些解释 在逻辑上具有合理性，但由于缺乏具体数据的支撑，其说服力大打折扣。 美德乐在对监管问询的回复中，呈现了一个值得关注的现象：围绕其核心产品高精度输送系统的毛利率 分析，多处关键指标以"商业秘密"为由被隐去。 美德乐2022-2024年研发费用率分别为4.18%、4.26%、4.9%，显著低于行业均值（7.19%、7.10%、 7.66%）。截至2025年6月，研发人员214人，仅为可比公司怡合达（396人）的54%、先导智能（4512 人）的4.7%。 美德乐劳务外包金额从1.05亿元降至5657万元，但多家供应商成立当年即合作。生产人员减少27%却实 现人均产出增长34.4%，成本核算准确性遭质疑。验收周期从10个月延长至20个月，与被质疑是否存在 通过延长验收调节收入的嫌疑。 注：本文创作借助AI工具收集整理市场数据和行业信息撰写 ...

比亚迪：捐赠1,000万港元紧急驰援香港大埔火灾救援。 6, @比亚迪 ...

Group 1 - The core viewpoint of the news is that Anhui Yuanzheng Transmission Technology Co., Ltd. is preparing for an IPO on the Beijing Stock Exchange after completing the counseling filing with the Anhui Securities Regulatory Bureau [2] - The company was established in 2011 with a registered capital of 53 million yuan, focusing on the research, production, and sales of high-performance special cables and cable components [2] - The actual controller of the company is Chairman and General Manager Wu Benxi, who directly holds 83.97% of the shares and indirectly holds 3.21% through an employee stock ownership platform, totaling 87.18% [2] Group 2 - In terms of performance, the company's revenue for 2023 and 2024 is projected to be 384 million yuan and 594 million yuan, respectively, while the net profit attributable to shareholders is expected to be 45.77 million yuan and 37.38 million yuan [2] - The company is experiencing a situation of increasing revenue but decreasing profit in 2024 [2] - The revenue from BYD Co., Ltd. accounted for 82.59% and 88.36% of the company's total revenue in the respective periods, indicating a high customer concentration [3]

Core Insights - BYD Company Limited, a significant player in the electric vehicle and battery manufacturing industry, is headquartered in China and is expanding globally, competing with major manufacturers like Tesla and NIO [1][2] Financial Performance - On November 26, 2025, BYD reported earnings per share of $0.11, below the estimated $0.19, with revenue at approximately $27.41 billion, falling short of the expected $38.52 billion due to price wars in the Chinese market and export challenges [2][6] - The company's financial metrics indicate a price-to-earnings (P/E) ratio of approximately 36.33, a price-to-sales ratio of about 0.92, and an enterprise value to sales ratio of around 0.83, reflecting its market valuation relative to sales [4] - The enterprise value to operating cash flow ratio is approximately 22.05, with an earnings yield of about 2.75%, and a debt-to-equity ratio of approximately 0.13, indicating a relatively low level of debt compared to equity [5] Future Outlook - There is optimism for 2026, with expectations of improved margins and cash flow driven by increased exports and new overseas manufacturing operations, alongside advancements in autonomous vehicle technology and ventures into robotaxi services and humanoid robots [3][6]