汽车股利好频传，恒生科技持续回暖，小米汽车累计交付50万台

Core Viewpoint - The expectation of interest rate cuts by the Federal Reserve has led to a resurgence in rate cut trading, resulting in a continuous rise in the Hang Seng Tech Index, with significant gains observed in major tech stocks such as BYD, Kuaishou, Alibaba, and Xiaomi [1] Group 1: Market Performance - The Hang Seng Tech Index ETF, which tracks the Hang Seng Tech Index, has seen a rise in line with the index, indicating strong market performance [1] - BYD's overseas sales in November exceeded 130,000 units, marking a year-on-year increase of 297%, setting a new historical high [1] - Xiaomi's automotive division announced that since April 3, 2024, it has delivered over 500,000 vehicles, with November deliveries consistently surpassing 40,000 units, exceeding the initial annual target of 350,000 units for 2025 [1] Group 2: Industry Insights - The Hang Seng Tech Index covers 30 leading tech companies listed in Hong Kong, focusing on both hardware and software technology, with a deep emphasis on the AI industry chain across upstream, midstream, and downstream sectors [1] - Key players in the index, including Alibaba, Tencent, Xiaomi, Meituan, SMIC, and BYD, are positioned to become the "Seven Giants" of Chinese tech stocks [1]