智通财经APP讯，吉利汽车(00175)发布公告，于2025年9月11日因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4.65万股。 ...

FF305 公司名稱： 吉利汽車控股有限公司 呈交日期： 2025年9月11日 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 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 | | | | | | | | | | | | | 已發行股份（不包括庫存股份 ...

Core Viewpoint - Daiwa has updated its valuation model for Geely Automobile (00175) following the release of its half-year results, projecting an increase in sales volume from 1.9 million to 2.3 million units to a new forecast of 3 million to 3.8 million units for 2025 to 2027 [1] Group 1 - The forecast for Geely's sales volume has been raised significantly, indicating a positive outlook for the company's performance in the coming years [1] - The growth is expected to be driven by successful transformation into new energy vehicles and expansion into overseas markets [1] - Daiwa anticipates further profit improvement due to economies of scale and cost savings from internal synergies [1] Group 2 - The "buy" rating has been reaffirmed, with the target price increased from HKD 14 to HKD 24.5 [1] - Revenue forecasts for 2025 to 2026 have been raised by 37% to 44%, while earnings per share estimates have been increased by 45% to 57% [1]

Core Viewpoint - Daiwa has updated its valuation model for Geely Automobile (00175) following the company's half-year performance report, indicating a positive outlook for the company's future sales and profitability [1] Sales Forecast - Daiwa predicts Geely will achieve sales of 3 million to 3.8 million vehicles from 2025 to 2027, an increase from the previous forecast of 1.9 million to 2.3 million vehicles [1] Growth Drivers - The anticipated growth is expected to be driven by Geely's successful transition to electric vehicles and expansion into overseas markets [1] Profitability Improvement - The firm expects Geely to benefit from economies of scale leading to improved profits and cost savings from internal synergies [1] Rating and Price Target - Daiwa maintains a "Buy" rating on Geely, raising the target price from HKD 14 to HKD 24.5 [1] Revenue and Earnings Forecast - Revenue forecasts for 2025 to 2026 have been increased by 37% to 44%, while earnings per share forecasts have been raised by 45% to 57% [1]

Core Viewpoint - Daiwa has updated its valuation model for Geely following the release of its half-year results, projecting an increase in sales volume for 2025 to 2027 from 1.9 million to 2.3 million units to a new estimate of 3 million to 3.8 million units, indicating optimism about Geely's successful transition to electric vehicles and anticipated growth from overseas expansion [1] Group 1 - The firm expects Geely to benefit from scale effects leading to improved profits and cost savings from internal synergies [1] - Daiwa has reiterated a "Buy" rating for Geely, raising the target price from HKD 14 to HKD 24.5 [1] - Revenue forecasts for 2025 to 2026 have been increased by 37% to 44%, while earnings per share estimates have been raised by 45% to 57% [1]

Sales Performance - In August 2025, the company sold 250,000 vehicles, representing a year-on-year increase of 38.0% and a month-on-month increase of 5.2% [1] - Cumulative sales from January to August 2025 reached 1.897 million vehicles, up 47.3% year-on-year [1] - New energy vehicle sales in August reached 147,000 units, marking a historical high, with a year-on-year increase of 95.2% [1] Model Breakdown - Sales by brand in August included 205,000 for Geely, 27,000 for Lynk & Co, and 18,000 for Zeekr, with year-on-year changes of +45.9%, +20.8%, and -2.2% respectively [1] - The Galaxy model sold 111,000 units in August, showing a significant year-on-year increase of 172.6% [1] Export and Energy Structure - In August, exports totaled 36,000 vehicles, down 19.9% year-on-year but up 2.3% month-on-month [1] - New energy vehicles accounted for 58.9% of total sales in August, an increase of 17.2 percentage points year-on-year [1] Product Strategy - The company plans to launch 10 new energy models in 2025, including 5 new models and several updated versions under the Geely brand [2] - The Lynk & Co brand will introduce the Lynk 900 EM-P in Q2, with additional models expected later in the year [2] Technological Advancements - The company is focusing on smart driving capabilities, with new models expected to feature advanced driving assistance systems [2] - The first Lynk 900 EM-P will be equipped with the NVIDIA Thor chip and advanced driving technology [2] Financial Outlook - The company anticipates a net profit of 16.1 billion yuan for 2025, with a price-to-earnings ratio of 11X [3] - The new platform (GEA architecture) is expected to enhance product offerings and profitability [3]

Group 1 - Geely Automobile's stock rose nearly 5%, closing at HKD 19.17 with a trading volume of HKD 972 million [1] - In August, Geely's total sales reached 250,200 units, a year-on-year increase of 38.0% and a month-on-month increase of 5.2% [1] - New energy vehicle sales in August were 147,300 units, showing a year-on-year growth of 95.2% and a month-on-month growth of 13.2% [1] - From January to August, total sales amounted to 1,897,100 units, representing a year-on-year increase of 47.3%, achieving 63.2% of the annual target of 3 million units [1] - According to Dongfang Securities, the domestic passenger car wholesale sales from August 1 to 24 increased by 12% year-on-year and 5% month-on-month [1] - The third batch of subsidy funds was distributed in late July, and the vehicle replacement program is gradually restarting, indicating a potential market recovery [1] Group 2 - Geely Galaxy's new SUV, the Galaxy M9, is set to officially launch on September 17, with pre-sales starting on August 23 [2] - The Galaxy M9 offers six models with a pre-sale price range of RMB 193,800 to RMB 258,800, and over 40,000 orders were placed within 24 hours of the pre-sale [2] - Dongfang Securities noted that the Galaxy brand has established strong influence and recognition in the mainstream market, enhancing its competitive edge with new products [2] - As the product matrix of the Galaxy brand continues to develop, market share is expected to further increase [2]

Group 1 - Geely Automobile's stock rose nearly 5%, closing at HKD 19.17 with a trading volume of HKD 972 million [1] - In August, Geely's total sales reached 250,200 units, a year-on-year increase of 38.0% and a month-on-month increase of 5.2% [1] - New energy vehicle sales in August were 147,300 units, showing a year-on-year growth of 95.2% and a month-on-month increase of 13.2% [1] - From January to August, total sales reached 1,897,100 units, a year-on-year increase of 47.3%, achieving 63.2% of the annual target of 3 million units [1] - According to Dongfang Securities, the wholesale sales of domestic passenger cars from August 1 to 24 increased by 12% year-on-year and 5% month-on-month [1] Group 2 - Geely Galaxy's new SUV, the Galaxy M9, is set to officially launch on September 17, with pre-sales starting on August 23 and over 40,000 orders in the first 24 hours [2] - The Galaxy brand has established strong influence and recognition in the mainstream market, indicating strong market competitiveness for upcoming products [2] - As the product matrix of the Galaxy brand continues to improve, market share is expected to further increase [2]

消息面上，乘联分会最新数据显示，2025年8月全国乘用车市场零售199.5万辆，同比增长4.6%，环比增 长8.2%；今年以来累计零售1474.1万辆，同比增长9.5%。新能源方面，8月新能源乘用车市场零售110.1 万辆，同比增长7.5%，环比增长11.6%；1-8月累计零售755.6万辆，同比增长25.8%。方正证券指出，随 着传统销售旺季的到来，叠加尚界H5、享界S9T、蔚来换代ES8等新车型的推出，终端需求有望持续回 升。目前，汽车板块动态市盈率处于近五年40%分位数以下，具备充足的估值修复空间，有望随着销量 增长同步扩张。建议重点关注新品周期强劲、市场占有率提升的头部车企，抓住行业景气度上升的窗口 机遇。 汽车股早盘普遍上扬，截至发稿，吉利汽车(00175)涨4.81%，报19.19港元；蔚来-SW(09866)涨3.18%， 报48.68港元；理想汽车-W(02015)涨3.04%，报95港元；小鹏汽车-W(09868)涨2.27%，报81.1港元；零 跑汽车(09863)涨1.79%，报65.4港元。 此外，9月9日03时48分，吉利星座第五个轨道面，在山东日照附近海域，再次以一箭11星方式成功 ...

Group 1: Automotive Sector Performance - The automotive stocks experienced a general rise in early trading, with notable increases in companies such as Geely Automobile (+4.81%), NIO (+3.18%), Li Auto (+3.04%), Xpeng Motors (+2.27%), and Leap Motor (+1.79%) [1] - According to the latest data from the Passenger Car Association, the retail sales of passenger cars in August 2025 reached 1.995 million units, representing a year-on-year increase of 4.6% and a month-on-month increase of 8.2% [1] - Cumulative retail sales for the year reached 14.741 million units, showing a year-on-year growth of 9.5% [1] - In the new energy vehicle segment, retail sales in August amounted to 1.101 million units, marking a year-on-year increase of 7.5% and a month-on-month increase of 11.6% [1] - Cumulative retail sales from January to August reached 7.556 million units, reflecting a year-on-year growth of 25.8% [1] - With the arrival of the traditional sales peak season and the launch of new models, terminal demand is expected to continue to rise [1] - The automotive sector's dynamic price-to-earnings ratio is currently below the 40th percentile of the past five years, indicating ample room for valuation recovery [1] - It is recommended to focus on leading automakers with strong new product cycles and increasing market share to capitalize on the rising industry sentiment [1] Group 2: Geely's Satellite Launch - On September 9, Geely successfully launched its fifth orbital plane, deploying 11 satellites into their designated orbits [2] - This launch marks the second successful satellite deployment within a month, following the fourth orbital launch on August 9 [2] - Among the satellites launched, one is the "Lynk 900" satellite, signifying a new step in Lynk's integration into the "Earth-Space Integrated Mobility Ecosystem" [2] - Additionally, on September 8, Lynk officially launched its first mid-to-large plug-in hybrid sedan, the Lynk 10 EM-P [2]