Core Viewpoint - The company reported strong sales growth in June and the first half of the year, particularly in the new energy vehicle segment, leading to an upward revision of annual sales targets to 3 million units [1][2]. Sales Performance - In June, total wholesale sales reached 236,000 units, a year-on-year increase of 42.1% and a month-on-month increase of 0.4% [1][2]. - Cumulative wholesale sales for the first half of the year were 1.409 million units, up 47.4% year-on-year [1]. - New energy vehicle sales in June were 122,367 units, representing an 85.5% year-on-year increase but a 11.3% decrease month-on-month, with a penetration rate of 51.8% [1][2]. - Total new energy vehicle sales for the first half of the year reached 725,000 units, a significant increase of 126.5% year-on-year [1]. Product Launches and Future Outlook - The company plans to launch the Galaxy A7 and M9 models in Q3 2025, targeting the hybrid sedan and large six-seat hybrid SUV markets, respectively [2][3]. - The Galaxy A7 will feature a new hybrid system with a comprehensive range of approximately 2,100 kilometers, while the M9 will include advanced driving assistance features [2]. - The company aims for total sales of 710,000 units in 2025, with specific targets for the Zeekr and Lynk brands [3]. Strategic Moves - The company is considering the privatization of Zeekr to consolidate resources and enhance operational efficiency, aligning with its strategic focus on high-end electric vehicles [3]. - The proposed acquisition price for Zeekr shares is $2.566 or 1.23 newly issued shares for each Zeekr share [3]. Financial Projections - Revenue projections for 2025-2027 are estimated at 404.78 billion, 489.69 billion, and 572.83 billion yuan, with net profits of 16.21 billion, 22.09 billion, and 25.98 billion yuan, respectively [4]. - Earnings per share (EPS) are forecasted at 1.61, 2.19, and 2.58 yuan for the same period, corresponding to price-to-earnings ratios of 9, 7, and 6 times based on the closing price of 16.32 HKD on July 2 [4].