多家港股上市车企披露三季报业绩会透露明年乐观市场期待

Core Insights - The automotive industry is entering a critical phase where strong profitability will be essential for survival, as indicated by the CEO of Geely Automobile [1] - All three companies—Xpeng Motors, Leap Motor, and Geely—expressed optimism about their ability to handle the upcoming reduction in new energy vehicle purchase tax incentives and are confident about market prospects [1] Performance Highlights - Xpeng Motors reported Q3 revenue of 20.38 billion yuan, a year-on-year increase of 101.8% and a quarter-on-quarter increase of 11.5%, with net losses narrowing to 380 million yuan [2] - Leap Motor achieved Q3 revenue of 19.45 billion yuan, a year-on-year increase of 97.3%, and a net profit of 150 million yuan, with a gross margin of 14.5% [2] - Geely's Q3 revenue reached 89.19 billion yuan, a year-on-year increase of 27%, with a net profit of 3.82 billion yuan, up 59% [2] Policy Adaptation - The adjustment of the purchase tax policy for new energy vehicles in 2026 is seen as a sign of the market maturing, with companies expected to adapt strategically [3] - Leap Motor's VP expressed confidence that the overall sales in the Chinese automotive market will not experience significant fluctuations next year [3] International Expansion - All three companies are accelerating their international market strategies, with Geely planning for 2026 to be its export year, expecting 45%-50% of overseas sales to be new energy vehicles by 2027 [4] - Xpeng Motors has seen a 125% year-on-year increase in overseas deliveries, with plans to launch three new models in international markets by 2026 [4] - Leap Motor has established a network of over 700 sales channels globally, with export sales exceeding 44,000 units from January to October this year [4]