FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) | | | B. 贖回/購回股份 (擬註銷但截至期終結存日期尚未註銷) (註5及6) | | | | | | --- | --- | --- | --- | --- | --- | --- | | 1). | 購回擬註銷但尚未註銷的股份 | | 1,534,000 | 0.01516 % | HKD | 17.6772 | | | 變動日期 | 2025年12月8日 | | | | | | 2). | 購回擬註銷但尚未註銷的股份 | | 1,634,000 | 0.01615 % | HKD | 17.5658 | | | 變動日期 | 2025年12月9日 | | | | | | 3). | 購回擬註銷但尚未註銷的股份 | | 1,537,000 | 0.01519 % | HKD | 17.6553 | | | 變動日期 | 2025年12月10日 | | | | | | 4). | 購回擬註銷但尚未註銷的股份 | | 1,824,000 | 0.01802 % | HKD | 17.4611 | ...

Core Viewpoint - The successful approval of the Zeekr 9X for L3 autonomous driving testing in Hangzhou highlights Geely's technological strength in advanced autonomous driving and showcases Hangzhou's strategic positioning in the intelligent connected vehicle industry [2] Group 1: Approval and Testing Scope - The Zeekr 9X has officially obtained the L3 autonomous driving road testing license covering an area of 9,224 square kilometers in Hangzhou, making it the largest in terms of area and longest in terms of mileage for L3 testing in China [2] - The testing range includes over 1,500 kilometers of dual-direction expressways, allowing for comprehensive scenario capability validation for the Zeekr 9X [2] Group 2: Data Integration and Analysis - During the testing period, the vehicle will connect to traffic data from over 7,000 intersections in Hangzhou, covering various scenarios including urban roads and expressways [2] - The collection and analysis of vast amounts of real-world traffic data will enable a thorough refinement of the Zeekr 9X's autonomous driving system [2] Group 3: Industry Implications - The approval of the Zeekr 9X not only reflects Geely's capabilities in the high-level autonomous driving sector but also serves as an important practical example for the development of the regional autonomous driving industry [2]

吉利汽车回购明细 | 日期 | 回购股数（万股） | 回购最高价（港元） | 回购最低价（港元） | 回购金额（万港元） | | --- | --- | --- | --- | --- | | 2026.01.07 | 338.80 | 17.650 | 17.380 | 5915.60 | | 2026.01.06 | 42.30 | 17.810 | 17.570 | 749.94 | | 2026.01.05 | 342.00 | 17.900 | 17.520 | 6031.47 | （文章来源：证券时报网） 证券时报·数据宝统计，吉利汽车在港交所公告显示，1月7日以每股17.380港元至17.650港元的价格回购 338.80万股，回购金额达5915.60万港元。该股当日收盘价17.510港元，下跌1.79%，全天成交额6.83亿 港元。 自1月5日以来公司已连续3日进行回购，合计回购723.10万股，累计回购金额1.27亿港元。 其间该股累 计下跌3.79%。（数据宝） ...

Group 1 - Geely Automobile (00175.HK) announced a share buyback on January 7, 2026, spending HKD 59.156 million to repurchase 3.388 million shares at a price range of HKD 17.38 to HKD 17.65 per share [1] - On January 6, 2026, Geely Automobile spent HKD 7.4994 million to buy back 423,000 shares [1]

Core Viewpoint - Geely Automobile announced a share buyback plan, indicating confidence in its stock value and future prospects [1] Group 1: Share Buyback Details - The company will repurchase 3.388 million shares at a total cost of HKD 59.156 million [1] - The buyback price per share ranges from HKD 17.38 to HKD 17.65 [1]

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 吉利汽車控股有限公司 呈交日期： 2026年1月7日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | | 00175 | 說明 | | | | | | | | 多櫃檯證券代號 | | 80175 | RMB 說明 | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | | ...

Company Performance - In 2025, the company achieved passenger car sales of 3,024,567 units, a year-on-year increase of 39%, exceeding the original target of 3 million units [1] - By brand, sales were 2,449,939 units for the main brand, 224,133 units for Zeekr, and 350,495 units for Lynk & Co, with year-on-year growth of 47%, 1%, and 23% respectively [1] - New energy vehicle sales increased by 90% to 1,687,767 units, accounting for 55.8% of total sales, up 15 percentage points [1] Future Sales Targets - The company set a sales target of 3.45 million units for 2026, representing a year-on-year increase of 14%, with new energy vehicle sales expected to rise by 32% to 2.22 million units [2] - Sales targets for 2026 by brand are 2.75 million units for Geely, 300,000 units for Zeekr, and 400,000 units for Lynk & Co [2] Product Strategy and Profitability - The company is expanding its product matrix, with new models such as the Galaxy E5, A7, and Xingyao 7 aimed at the mainstream market, and six-seat SUVs like Zeekr 9X and Lynk & Co 900 [2] - The integration of Geely, Zeekr, and Lynk & Co is expected to enhance production management synergies and improve profitability [2] Profit Forecast and Valuation - The net profit forecast for 2025 and 2026 has been raised by 3.2% and 8.9% to 17.5 billion yuan and 21.5 billion yuan respectively, with a new forecast for 2027 net profit at 24.9 billion yuan [2] - The current stock price corresponds to price-to-earnings ratios of 10.4x for 2025, 8.3x for 2026, and 7.0x for 2027, with a target price of 26.00 HKD, indicating a potential upside of 42.9% [2]

Core Viewpoint - Geely Automobile reported a total sales volume of 237,000 units in December 2025, representing a year-on-year increase of 12.7% but a month-on-month decrease of 23.7% [1] Group 1: December Sales Performance - December total deliveries continued to grow year-on-year, with Zeekr 9X deliveries exceeding 10,000 units, surpassing the annual target [1] - December sales breakdown by model: Geely brand/Link & Co/Zeekr sold 173,000/34,000/30,000 units, with year-on-year changes of +10.2%/+29.4%/+11.3% and month-on-month changes of -29.9%/-3.7%/+4.9% [1] - Geely brand's Galaxy model sold 101,000 units in December, up 45.0% year-on-year but down 24.1% month-on-month [1] - Exports in December reached 40,000 units, a year-on-year increase of 49.0% but a month-on-month decrease of 4.2% [1] - December new energy vehicle sales totaled 154,000 units, up 38.7% year-on-year but down 17.9% month-on-month, accounting for 65.1% of total sales, an increase of 12.2 percentage points year-on-year and 4.6 percentage points month-on-month [1] Group 2: 2025 Annual Performance - Total sales for 2025 reached 3.025 million units, a year-on-year increase of 39.0% [1] - Annual cumulative sales for Galaxy/Link & Co/Zeekr in 2025 were 1.236 million/350,000/224,000 units, with year-on-year changes of +149.9%/+25.4%/-1.8% [1] - Q4 2025 cumulative total sales for Galaxy/Link & Co/Zeekr were 854,000/361,000/109,000/81,000 units, with year-on-year changes of +24.2%/+73.3%/+30.1%/-5.6% [1] Group 3: Future Outlook - Geely aims for a total sales target of 3.45 million units in 2026, representing a year-on-year increase of 14%, with sales targets for Geely brand/Link & Co/Zeekr set at 2.75 million/400,000/300,000 units [2] - The new GEA architecture supports a new product cycle, with positive developments across Zeekr, Link & Co, and Galaxy [2] - The transition to new energy vehicles is progressing smoothly, with scale effects expected to enhance profitability [2] - The company maintains a solid foundation in fuel vehicles and continues to explore new overseas markets through innovative joint ventures [2] - The smart driving strategy is being accelerated to enhance driving capabilities, with significant profit elasticity anticipated under the new vehicle cycle [2] - The projected net profit for 2025 is 17 billion yuan, corresponding to a PE ratio of 10.6X, maintaining a "buy" rating [2]

Core Insights - Geely's sales in 2026 exceeded 3.02 million units, marking a 39% year-on-year increase, with over half being new energy vehicles, which surged by 90% to 1.69 million units [2][4] - The company achieved a revenue of 239.5 billion yuan in the first three quarters of 2025, a 26% increase, and a core net profit of 10.62 billion yuan, up 59% [2][7] - Geely has entered the "3 million club" of global automakers, alongside giants like Toyota and Volkswagen, securing a spot among the top ten global car manufacturers [2] Step One: Rapid Electrification Transformation - Geely's strategic focus on electrification has allowed it to thrive amid fierce competition, achieving a new energy penetration rate of 56% by 2025 [4][5] - The Galaxy brand has seen significant success, with annual sales reaching 1.24 million units, a 150% increase, and the Galaxy M9 becoming a key player in the mid-to-high-end market [4][5] - Geely's traditional fuel vehicle sales also grew by 3%, demonstrating a balanced approach to maintaining its core business while pushing for new energy growth [5] Step Two: Strategic Integration of "One Geely" - Geely completed the privatization and merger of Zeekr, enhancing resource synergy across R&D, procurement, and manufacturing, which is expected to lower costs and improve efficiency [7][8] - The merger is seen as a strategic move to consolidate efforts in the smart electric vehicle sector, allowing for better resource allocation and market positioning [8][9] - The company's financial performance reflects this integration, with Q3 2025 revenue reaching 89.2 billion yuan, a 27% increase, and core net profit growing by 19% [7][8] Step Three: Full-Scale AI Integration - Geely has established itself as a technology company by implementing a comprehensive AI system across all vehicle domains, including architecture, power, chassis, and intelligent driving [10][12] - The launch of the AI-driven H9 system for autonomous driving showcases Geely's commitment to advanced technology, with plans to introduce L3 and L4 functionalities in 2026 [12][15] - The integration of AI technologies into new models, such as the Galaxy M9 and Zeekr 9X, demonstrates Geely's ability to rapidly translate technological advancements into market-ready products [16] Growth Engines for 2026 - Geely aims for a sales target of 3.45 million units in 2026, with 2.22 million from new energy vehicles, supported by the launch of approximately ten new models [17][18] - The company is shifting towards a localized supply chain and manufacturing capabilities in key overseas markets, enhancing its global competitiveness [18][19] - Policy changes favoring higher-value vehicles are expected to benefit Geely, which has focused on high-value products and aims to leverage these changes for growth [19][20] Future Outlook - Geely's market valuation is approaching 200 billion HKD, with over 40 institutions providing positive ratings, indicating a reassessment of its technological capabilities [21][23] - The company is positioned to redefine its identity from a traditional automaker to a technology-driven enterprise, with a complete AI ecosystem in place [22][23] - Geely's strategic focus on integrating technology, enhancing product offerings, and expanding globally suggests a promising trajectory for future growth and innovation [24]

于同日，公司因本集团雇员根据认股权计划(于2023年4月28日获采纳)行使认股权而发行3.1万股普通股 股份。 吉利汽车(00175)发布公告，于2026年1月6日，该公司斥资749.94万港元回购42.3万股股份，每股回购价 17.57-17.81港元。 ...