Core Viewpoint - Xiaopeng Motors has received an L3 autonomous driving road test license in Guangzhou, marking a significant step in its autonomous driving capabilities and strategy towards becoming a global AI automotive company [1] Group 1: Autonomous Driving Developments - Xiaopeng Motors has initiated regular L3 road testing in Guangzhou, utilizing the license for conditional autonomous driving on high-speed intelligent connected vehicle testing roads [1] - The company is advancing its self-developed Turing chip and cloud-based large model, entering the second generation VLA phase of intelligent driving [1] - Xiaopeng Motors plans to mass-produce its second-generation VLA with L4 capabilities by Q1 2026 and aims to launch an L4-capable Robotaxi model in 2026 [1] Group 2: Strategic Shift and Future Vision - The company has fully transitioned to an AI strategy, positioning itself as a global AI automotive technology enterprise [1] - Xiaopeng Motors is developing a "trinity" embodied intelligence ecosystem that includes AI vehicles, AI robots, and flying cars [1] - The cumulative order volume for its flying car, referred to as the "land aircraft carrier," has reached 7,000 units, with a manufacturing base capable of an annual production capacity of 10,000 units now completed [1]

Group 1 - Two studies published in Nature confirm the efficacy and safety of a new diabetes drug, Masitide, developed by China's Innovent Biologics and Eli Lilly, showing superior blood sugar control and weight loss compared to placebo and Dulaglutide [1] - The studies involved Phase III clinical trials with Chinese type 2 diabetes patients, demonstrating improvements in cardiovascular, liver, and kidney-related indicators [1] - Masitide is a dual receptor agonist for glucagon-like peptide-1 and glucagon, providing high-quality evidence for overweight, obese, and diabetic patients, highlighting China's research capabilities in this field [1] Group 2 - U.S. stock indices rose collectively, with the Dow Jones up 65.88 points (0.14%), S&P 500 up 53.33 points (0.79%), and Nasdaq up 313.04 points (1.38%), driven by gains in large tech stocks [2] - Notable stock performances included Tesla rising over 3%, and Micron Technology increasing over 10% [2] - Chinese concept stocks also saw gains, with Zhihu up over 3% and XPeng Motors up over 2% [2] Group 3 - The State Council of China issued an opinion to combat illegal tobacco activities, focusing on countering counterfeit and smuggled tobacco products, and enhancing law enforcement collaboration with other countries [3] - The opinion aims to purify the tobacco market environment and protect national interests and consumer rights [3] Group 4 - BHP CEO Mike Henry emphasized the critical role of copper in the economy and its demand surge, predicting a bull market for copper due to supply constraints [4] - The annual market size for copper is estimated between $300 billion and $400 billion, with a projected 70% increase in demand by 2050, while new mining discoveries are becoming rarer and more challenging to develop [4] Group 5 - Meituan released and open-sourced a state-of-the-art virtual human video generation model, LongCat-Video-Avatar, which supports multiple tasks and has undergone significant upgrades in realism and stability [5] Group 6 - Zhihui Mining's shares rose 126.16% in dark trading, with a planned global offering of 122 million H-shares at HKD 4.51 each, focusing on zinc, lead, and copper mining in Tibet [6] Group 7 - Evergrande Auto announced a change in the registered shareholder of its subsidiary to Guangzhou Juliyi, with stock trading suspended pending further notice [7] Group 8 - Wasion Holdings' subsidiary won a contract worth over RMB 80 million for a project with CPFL, a leading power company in Brazil, and expects significant growth in AI data center revenues [8] - The company anticipates a doubling of AI data center revenue from RMB 1 billion in 2025 to RMB 2 billion in 2026, with new orders expected to grow significantly [8] Group 9 - Citigroup raised its profit forecasts for Wasion Holdings by 1% to 5% for 2025-2027, increasing the target price from HKD 15.5 to HKD 21, maintaining a "buy" rating [9]

Group 1 - TikTok CEO Zhou Shuzi announced the establishment of a new joint venture, TikTok USDS Joint Venture LLC, to handle data protection and algorithm security in the U.S. while ByteDance retains control over e-commerce and advertising [1] - The new joint venture is expected to be finalized by January 22, 2026, and will focus on content review and software security [1] Group 2 - Hainan Free Trade Port officially launched its full island closure operation, leading to significant discounts on iPhone products, with prices reduced by over 2,000 yuan for certain models [3] - The iPhone 17 Pro Max 256GB version is priced at 9,299 yuan, which is 700 yuan cheaper than e-commerce platforms [3] Group 3 - OpenAI is in preliminary talks for a new funding round, aiming for a valuation of approximately $750 billion, with potential funding reaching hundreds of billions [3] - This valuation represents a 50% increase from the previous funding round in October 2022 [3] Group 4 - Elliott Investment Management has accumulated over $1 billion in shares of Lululemon and is advocating for a former Ralph Lauren executive to become the new CEO [12] - Lululemon's current market capitalization is around $25 billion [12] Group 5 - Apple announced adjustments to its iOS rules in Japan, allowing developers to use third-party app stores and payment methods, in compliance with new regulations [12] - This change enables developers to add alternative payment options within their apps [12] Group 6 - Honda confirmed a temporary suspension of production at its joint venture factory in China due to supply chain issues, specifically related to semiconductor shortages [16] - The suspension will last for three days starting December 29, 2023 [16] Group 7 - Xiaomi's founder announced the official release of the Xiaomi 17 Ultra next week, following leaked images of the device [7] - The new model is expected to generate significant consumer interest [7] Group 8 - Amazon is restructuring its AI team, integrating chip and model development under a new business unit led by a veteran from its cloud computing division [18] - This move aims to enhance Amazon's capabilities in artificial intelligence and maintain competitiveness in the market [18]

Group 1: Economic Data - The U.S. November CPI increased by 2.7% year-on-year, lower than the market expectation of 3.1% [3] - The core CPI rose by 2.6% year-on-year, also below the expected 3%, marking the lowest level since March 2021 [3] - Initial jobless claims for the week ending December 13 were reported at 224,000, slightly below expectations, indicating relative stability in the labor market [3] Group 2: Stock Market Performance - Major U.S. stock indices closed higher, with the Dow Jones Industrial Average up by 65.88 points (0.14%) to 47,951.85, the S&P 500 up by 53.33 points (0.79%) to 6,774.76, and the Nasdaq Composite up by 313.04 points (1.38%) to 23,006.36 [1] - Micron Technology's stock surged by 10.2% after the company provided a quarterly profit guidance nearly double analysts' expectations, driven by strong demand related to artificial intelligence [2] - Trump Media & Technology Group's stock skyrocketed by 41% following the announcement of a stock merger with TAE Technologies, valuing the deal at over $6 billion [2] Group 3: Sector Performance - The technology sector was a major driver of market performance, with the Philadelphia Semiconductor Index rising by 2.6% [2] - Non-essential consumer goods sector showed strong performance, with Starbucks up by 4.9% and Lululemon up by 3.5% [2] - Chinese concept stocks generally performed well, with notable increases in shares of XPeng Motors (up 2.82%), Futu Holdings (up 2.19%), and Tencent Holdings ADR (up 1.41%) [2]

Group 1 - China's Hainan Free Trade Port officially launched its zero-tariff operation on December 18, expanding the range of zero-tariff goods to over 6,600 items, enhancing consumer experience for travel and shopping [2] - The Ministry of Commerce has reintroduced export license management for steel for the first time in 16 years to strengthen monitoring and analysis of steel product exports [2] - A giant underwater gold mine has been discovered in Shandong Province, with proven gold reserves of over 3,900 tons, accounting for approximately 26% of the national total [2] Group 2 - The State Administration for Market Regulation emphasizes the need to strengthen the construction of a unified national market and promote fair competition [3] - The U.S. has initiated a military sale to Taiwan valued at approximately $11 billion, marking one of the largest military sales [3] - The State-owned Assets Supervision and Administration Commission has issued guidelines for holding central enterprises accountable for investment violations, effective from January 1, 2026 [3] Group 3 - The China Securities Regulatory Commission is advancing the "14th Five-Year" plan for the capital market, focusing on comprehensive reforms and high-level opening-up [4] - A-share indices showed divergence, with the Shanghai Composite Index closing up 0.16% while the Shenzhen Component Index and ChiNext Index fell by 1.29% and 2.17%, respectively [4] - The Hong Kong stock market is undergoing a narrow consolidation, with the Hang Seng Index closing up 0.12% [4] Group 4 - Morgan Stanley predicts that chip stocks will remain one of the best-performing sectors in the U.S. stock market next year, highlighting Nvidia, Broadcom, and Astera Labs as top picks [5] - Insurance asset management institutions have registered 83 asset-backed plans this year, totaling approximately 344.56 billion yuan [5] - Domestic GPU companies, Moore Threads and Muxi Co., have recently listed on the STAR Market, attracting significant investment from insurance funds [5] Group 5 - A wave of IPOs is expected in the Hong Kong capital market, with several companies starting public offerings on December 18 [6] - The Ministry of Industry and Information Technology announced that the photovoltaic industry will enter a critical phase in 2026, focusing on capacity regulation [8] Group 6 - The State Council has issued guidelines to strengthen electronic cigarette regulation and combat illegal tobacco-related activities [9] - The upcoming New Year's holiday is projected to significantly boost the domestic tourism market, with flight bookings increasing by approximately 46% year-on-year [9] - The total scale of bank wealth management products reached a historical high of about 34 trillion yuan by the end of November [9] Group 7 - The People's Bank of China will issue 40 billion yuan in central bank bills in Hong Kong on December 22, with a maturity of six months [18] - The U.S. Treasury Department reported an increase in Japan's holdings of U.S. Treasury securities to $1.2 trillion in October [18]

导读 行业普遍认为，L3级是从"辅助驾驶"到"完全自动驾驶"的重要过渡，后续的L4级自动驾驶将实现更大突破——在固定区域内，车辆可完全脱离人类干预， 真正实现无人驾驶。 12月15日，工业和信息化部正式公布了我国首批L3级有条件自动驾驶车型准入许可名单并附条件许可了长安旗下深蓝汽车SL03(L3版)、极狐阿尔法S6(L3 版)这两款车型产品。这是我国L3级自动驾驶从测试阶段迈入商业化应用的关键一步，对高阶智驾进入按法规要求交付、运营并接受监管的新阶段具有重 要意义。 12月15日，工业和信息化部正式公布了我国首批L3级有条件自动驾驶车型准入许可名单并附条件许可了长安旗下深蓝汽车SL03(L3版)、极狐阿尔法S6(L3 版)这两款车型产品。获批车型将分别在重庆指定拥堵路段和北京指定高速路段开展上路试点，最高运行速度分别被限制在50km/h和80km/h。这一举措不 仅是我国L3级自动驾驶从测试阶段迈入商业化应用的关键一步，还意味着高阶智驾不再仅停留于技术展示，而是进入了按法规要求交付、运营并接受监 管的新阶段。 深蓝汽车SL03(L3版)和极狐阿尔法S6(L3版)能够获批搭载L3级自动驾驶功能的智能网联汽车产品 ...

Core Viewpoint - XPeng Inc. (NYSE:XPEV) is experiencing fluctuations in its stock price due to concerns over sales estimates and options market activity, despite being recognized as a high-growth electric vehicle (EV) stock to consider for investment [1][2]. Group 1: Stock Performance - XPeng Inc. shares decreased slightly by 18 cents, reaching $19.64, with options activity indicating a moderately bearish sentiment [2]. - The put/call ratio was reported at 0.35, slightly above the normal level of 0.33, suggesting a higher demand for downside protection [2]. - The implied volatility for 30-day options increased by 19 points to approximately 72.25, indicating an expected daily price movement of about $0.89 [2]. Group 2: Sales and Deliveries - In November, XPeng delivered 36,728 vehicles, marking a 19% increase compared to the same month last year [3]. - The total vehicle deliveries for the fourth quarter through November reached 78,741, with 42,013 vehicles sold in October [3]. - To meet its quarterly target of 125,000 to 132,000 units, the company needs to sell around 50,000 cars in December [3]. Group 3: Company Overview - XPeng Inc. is a notable Chinese smart electric vehicle startup engaged in the design, development, manufacturing, and promotion of EVs in China [4]. - While XPeng shows potential as an investment, there are suggestions that certain AI stocks may offer greater upside potential with less downside risk [4].

XPeng stock price has nosedived in the past few weeks as investors have dumped Chinese EV companies. XPEV dropped to $18 in New York, down by 35% from its highest point this year. ...

Core Viewpoint - Xiaopeng Motors (09868) announced the issuance of 1.8815 million Class A ordinary shares on December 18, 2025, to fulfill restricted stock units as part of its equity incentive plans approved by shareholders in 2020 and 2025 [1] Group 1 - The issuance of shares is based on the 2019 equity incentive plan adopted on June 28, 2020, and approved by shareholders on August 20, 2020 [1] - The company will also issue shares according to the 2025 equity incentive plan adopted on March 18, 2025, and approved by shareholders on June 27, 2025 [1]

智通财经APP讯，小鹏汽车-W(09868)发布公告，于2025年12月18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年股权激励计划以及根据于2025年3月18日采纳及2025年6月27日获公 司股东批准的2025年股份激励计划而发行188.15万股A类普通股以满足限制性股份单位。 ...