香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦 不發表任何聲明，並明確表示概不會就因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任 何損失承擔任何責任。 授出限制性股份單位 董事會宣佈，於 2025 年 10 月 1 日，本公司根據 2025 年股份激勵計劃向一名高級管理 層成員（「高級管理層授出」）及 318 名僱員（「僱員授出」，連同高級管理層授出 統稱「限制性股份單位授出」）授出合共 5,075,940 股限制性股份單位（代表相同數量 的 A 類普通股），惟須待承授人接納後，方可作實。概無限制性股份單位授出須經本 公司股東批准，且概無承授人為本公司董事、最高行政人員或主要股東，亦非前述各 方的聯繫人。 限制性股份單位授出受 2025 年股份激勵計劃及本公司與各承授人訂立的獎勵協議的條 款及條件規限。2025 年股份激勵計劃的主要條款載於本公司日期為 2025 年 5 月 12 日 的委託投票說明書╱通函。 香港聯交所已經批准根據 2025 年股份激勵計劃可能授予的獎勵對應的新 A 類普通股的 上市並准許該等新 A 類普通股的交易。為滿足在 2025 ...

Market Overview - The Hong Kong stock market experienced significant gains post-National Day holiday, with the Hang Seng Index and Hang Seng Tech Index showing consistent upward trends, particularly in the semiconductor and gold sectors [1] - Concerns were raised about a potential repeat of the "10.8" market scenario, with warnings that the semiconductor sector might face a pullback after reaching new highs [1][3] - The Hong Kong Stock Exchange announced new regulations to lower the listing threshold for structured products, aiming to enhance market vitality while increasing requirements for issuers [1] Investment Sentiment - International investment banks, such as Morgan Stanley and JPMorgan, expressed optimism about Chinese stocks, with JPMorgan raising Alibaba's target price due to positive AI-driven business prospects [3] - European investors are reportedly regaining confidence in the Chinese stock market, indicating a potential shift in investment dynamics [3] Electric Vehicle Sector - New energy vehicle companies reported record delivery numbers for September, with Li Auto showing a decline, raising discussions about market leadership and the importance of overseas market performance and technology strategies [5][8] - The competitive landscape in the new energy vehicle market is expected to intensify, necessitating differentiation for survival [5] Technical Analysis - Following the holiday, the A-share market opened with positive sentiment driven by favorable news in the technology sector, including semiconductors and solid-state batteries [7] - The market is closely monitoring the ability to maintain the 3900-point level, with trading volume and broker sentiment being critical indicators [7] Delivery Data - September 2025 delivery figures for electric vehicle manufacturers showed significant year-on-year and month-on-month growth for Leap Motor, XPeng, and NIO, with Leap Motor achieving a 97.40% increase year-on-year [8]

Core Insights - Chinese automotive companies are rapidly establishing a brand ecosystem in Europe to overcome entry barriers and capitalize on the market opportunity [2][3] - The urgency in the European automotive industry has intensified, prompting various collaborations and local production strategies among Chinese firms [4][5] Group 1: Market Entry Strategies - Chinese automakers are adopting a "light asset" model for entering the European market, focusing on partnerships rather than building factories [4][5] - Companies like Leap Motor and Xpeng are leveraging existing European facilities for production, with plans to launch electric vehicles in multiple European countries [4][5] - The collaboration with established European manufacturers and suppliers is seen as a crucial strategy for reducing costs and risks associated with market entry [6][11] Group 2: Product Strategy and User Engagement - Chinese companies are tailoring their product strategies to meet European consumer preferences, including the introduction of plug-in hybrid models and compact cars [9][10] - There is a focus on educating European consumers about the technology and features of Chinese electric vehicles, as many users remain cautious [8][10] - Xpeng aims to maintain a global product strategy without creating a separate "European version," emphasizing the consistency of technology and features across markets [10] Group 3: Collaboration and Supply Chain Localization - The establishment of local supply chains through partnerships with European firms is essential for the success of Chinese electric vehicles in Europe [11] - Companies like Horizon Robotics are forming alliances with major suppliers to develop intelligent driving systems tailored for European markets [7][11] - The collaboration process is viewed as an opportunity for Chinese firms to learn from European manufacturing and technology practices [11]

Core Viewpoint - Chinese automotive companies are rapidly forming partnerships and localizing production in Europe to establish a competitive presence in the European market, driven by high tariffs and the need for a robust brand ecosystem [2][4]. Group 1: Market Entry Strategies - In the past 20 days, the urgency for Chinese automotive companies to enter the European market has intensified, marked by significant announcements such as Horizon's fundraising of 5.8 billion yuan and XPeng's entry into five European countries [2]. - Collaborations with established European manufacturers and suppliers, such as Magna and Bosch, are being pursued to facilitate market entry and production [2][4]. - The strategy of "light asset" models is being adopted, where companies like Leap Motor and XPeng utilize existing European facilities for production rather than building new factories [4][5]. Group 2: Localization and Production - Local production has become essential for Chinese electric vehicle manufacturers due to high export costs and compliance risks, with companies opting for partnerships to minimize investment [4][6]. - XPeng plans to enter five European markets, including Austria and Switzerland, through collaborations with local dealer groups [4][5]. - CATL has established multiple production bases in Europe, indicating a trend towards localizing the supply chain for battery production [6]. Group 3: Market Perception and Consumer Engagement - European consumers exhibit a mixed sentiment towards Chinese electric vehicles, with some expressing interest in the technology while others prefer to support local brands [9][11]. - The current penetration rate of electric vehicles in Europe is only 20%, highlighting the challenges and potential for growth in the market [12]. - Chinese companies are adapting their product strategies to meet European preferences, including the development of hybrid models and compact cars to navigate high tariffs [12]. Group 4: Technological Collaboration and Learning - The entry of Chinese electric vehicles into Europe is not just about market share but also involves collaboration with local firms to build a comprehensive supply chain [14]. - Companies like Horizon are actively seeking partnerships with global suppliers to enhance their technological capabilities and adapt to European standards [6][14]. - The process of localization will also serve as a learning opportunity for Chinese manufacturers to absorb advanced automotive technologies from Europe [14].

Group 1 - The Hong Kong automotive stocks experienced a collective decline, with major players such as BYD, Xpeng, and Li Auto dropping over 4% [1] - NIO and Geely also saw declines of over 2%, indicating a broader downturn in the sector [1] - The market capitalization of BYD is approximately 988.3 billion, with a year-to-date increase of 24% despite the recent drop [2] Group 2 - Xpeng's stock price fell by 4.31%, with a current price of 90.95 and a year-to-date increase of 94.96%, reflecting strong performance earlier in the year [2] - Li Auto's stock decreased by 4.17%, currently priced at 97.75, with a modest year-to-date increase of 4.04% [2] - Leap Motor's shares dropped by 3.62%, with a current price of 66.50 and a significant year-to-date increase of 104.30% [2]

Core Insights - Multiple new energy vehicle manufacturers reported their September delivery figures, with Leap Motor achieving a record monthly delivery of over 60,000 units for the first time [1][4] - Other brands such as Xiaopeng and NIO also set new monthly delivery records [1] Delivery Performance - Leap Motor delivered 66,657 units in September, marking a year-on-year increase of 97% and a month-on-month increase of 16.8% [2][4] - Hongmeng Zhixing delivered 52,916 units, with a year-on-year growth of 1% and a month-on-month growth of 18.7% [2][5] - Xiaopeng delivered 41,581 units, reflecting a year-on-year increase of 95% and a month-on-month increase of 10.3% [2][5] - NIO's deliveries reached 34,749 units, up 64% year-on-year and 11% month-on-month [2][9] - Li Auto delivered 33,951 units, showing a year-on-year decline of 36.8% but a month-on-month increase of 19% [2][12] Market Overview - The retail sales of narrow passenger vehicles in September are expected to reach 2.15 million units, with a month-on-month growth of 6.5% and a year-on-year growth of 2% [3] - The retail sales of new energy passenger vehicles are projected to exceed 1.25 million units, with a penetration rate anticipated to rise to 58.1%, setting a new historical high [3] Strategic Developments - Leap Motor plans to launch its new model, the Lafa5, in mainland China by Q4 2025, following its global debut at the Munich International Motor Show [5] - Xiaopeng announced a partnership with Magna in Austria for localized production, with plans to produce models like the G6 and G9 [8] - NIO's new brand, Ladao, has contributed to its delivery growth, with the Ladao L90 model achieving significant sales since its launch [12] Competitive Landscape - Leap Motor has maintained its position as the top seller among new energy vehicle manufacturers for seven consecutive months [4] - Xiaopeng's cumulative deliveries for the year reached 313,196 units, reflecting a year-on-year increase of 218% [5] - Li Auto's performance has declined, with a notable drop in year-on-year deliveries, while it aims to stabilize its sales in the high-end electric vehicle market [12]

Welcome to the Green Stock News Brief for Thursday, October 2nd. Here are today's top headlines. Tesla produced over 447,000 vehicles in Q3, delivered a record 497,000, and deployed a record 12.5% gatt hours of energy storage products.Deliveries included 481,000 of the Model 3 Y and 16,000 from other models. Rivian reported producing 10,000 vehicles and delivering 13,000 vehicles in Q3 with results aligning to expectations. The company also narrowed its fullear 2025 delivery guidance to between 41 and 43,00 ...

小鹏汽车-W(09868)发布公告，于2025年10月2日，根据于2020年6月28日采纳及2020年8月20日获公司股 东批准的2019年股权激励计划而发行2.12万股A类普通股以满足限制性股份单位。 ...

智通财经APP讯，小鹏汽车-W(09868)发布公告，于2025年10月2日，根据于2020年6月28日采纳及2020 年8月20日获公司股东批准的2019年股权激励计划而发行2.12万股A类普通股以满足限制性股份单位。 ...

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： 小鵬汽車有限公司（於開曼群島註冊成立以不同投票權控制的有限公司） 呈交日期： 2025年10月2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 不同投票權架構公司普通股 | | 股份類別 A | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | 09868 | 說明 A類普通股 | | | | | | | 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）變動 | | 庫存股份變動 | | | | ...