Group 1 - The article reports on share buybacks conducted by various companies on December 18, 2025, with Tencent Holdings leading in both the number of shares repurchased and the total amount spent [1] - Tencent Holdings repurchased 1.055 million shares for a total of 636 million yuan, representing 1.030% of its total share capital for the year [2] - Other notable companies involved in the buyback include Xiaomi Group, which repurchased 3.75 million shares for 151 million yuan, and China National Petroleum Corporation, which repurchased 254,000 shares for 116.38 million yuan [3] Group 2 - The total number of shares repurchased by companies varied significantly, with China National Petroleum Corporation having a cumulative buyback of 230 million shares, which is 0.190% of its total share capital [3] - Companies like IGG and VITASOY also participated, with IGG repurchasing 182,000 shares for 68.49 million yuan and VITASOY repurchasing 122,000 shares for 77.94 million yuan [3] - The buyback activity reflects a strategic move by these companies to enhance shareholder value and manage their capital structure effectively [1][2]

Core Insights - The article highlights the rapid evolution of smart vehicles towards advanced autonomous driving and the increasing importance of AI chips as the core computational foundation [2] - Black Sesame Intelligence, known as the "first stock of autonomous driving chips," is expanding its business into humanoid robots while enhancing its product matrix through strategic acquisitions [2][11] - The company is expected to achieve over 60% revenue growth this year, driven by its dual focus on smart vehicles and robotics [2] Group 1: Business Strategy - Black Sesame Intelligence has established smart vehicles as its core business, focusing on autonomous driving and cross-domain integration to build a robust product system [3] - The company has formed a product tier covering mid to high-level autonomous driving, with the Huashan series A1000 chip achieving large-scale production and the A2000 chip targeting L3 autonomous driving scenarios [3][5] - The open platform model of Black Sesame Intelligence aligns with the trend of automakers seeking to develop their own autonomous driving solutions, enhancing the sustainability of its business model [3] Group 2: Robotics Expansion - The robotics sector is viewed as a growth area for Black Sesame Intelligence, leveraging its automotive chip technology to enter this market strategically [7] - The SesameX multidimensional embodied intelligent computing platform, set to launch in November 2025, is the first of its kind to meet automotive safety standards and is designed for commercial deployment in robotics [8] - The global robotics market is projected to have a shipment volume at least ten times that of the automotive market over the next five to ten years, indicating significant growth potential [9] Group 3: Acquisition and Ecosystem Development - The planned acquisition of Zhuhai Yizhi Electronics for 400 million to 550 million yuan aims to fill the gap in low-power edge chip products, enhancing Black Sesame's product matrix [11][12] - Yizhi Electronics' expertise in low-power AI SoC chips will complement Black Sesame's existing offerings, creating a comprehensive AI edge chip product line [11] - The acquisition is expected to optimize the SesameX platform's energy efficiency in robotics and enhance the decision-making capabilities of automotive chips, creating a beneficial feedback loop [12] Group 4: Financial Performance - Black Sesame Intelligence's revenue is derived from chips, solutions, and software algorithms, with higher margins from chips and algorithms being the core profit sources [13] - Future margin improvements are anticipated from increased chip shipments and market share, following the growth paths of industry giants like Qualcomm and MediaTek [13] - The strategic acquisition and expansion into the robotics sector are expected to accelerate revenue growth and enhance the company's market position in the AI chip industry [13]

12月18日港股公司回购一览 | 代码 | 简称 | 回购股数 | 回购金额（万 | 回购最高价 | 回购最低价 | 年内累计回购金额 | | --- | --- | --- | --- | --- | --- | --- | | | | （万股） | 港元） | （港元） | （港元） | （万港元） | | 00700 | 腾讯控股 | 105.50 | 63564.70 | 605.500 | 599.500 | 7558671.47 | | 01810 | 小米集团-W | 375.00 | 15066.09 | 40.240 | 40.120 | 538831.93 | | 01919 | 中远海控 | 590.00 | 8055.74 | 13.760 | 13.520 | 661473.90 | | 01024 | 快手-W | 123.50 | 8021.93 | 65.600 | 64.350 | 276412.50 | | 00175 | 吉利汽车 | 190.80 | 3179.71 | 16.800 | 16.260 | 29443.33 | | 06098 | 碧桂园服务 | 270 ...

Core Insights - November automotive sales reached 3.429 million units, a year-on-year increase of 3.4%. Cumulative sales from January to November totaled 31.127 million units, reflecting an 11.4% year-on-year growth [1][2] - The comprehensive inventory coefficient for automotive dealers in November was 1.6, up 41.4% year-on-year and 34.2% month-on-month. The inventory warning index stood at 55.6%, an increase of 3.8 percentage points year-on-year and 3 percentage points month-on-month [2] Sales Performance - In November, the sales of new energy vehicles (NEVs) reached 1.823 million units, marking a 20.6% year-on-year increase, with a penetration rate of 53.2%. From January to November, NEV sales totaled 14.78 million units, up 31.2% year-on-year, with a penetration rate of 47.5% [2] Investment Strategy - The automotive sector should focus on undervalued leading companies in vehicle manufacturing and parts due to performance improvements. Key areas of interest include: - Domestic car manufacturers with first-mover advantages in the NEV sector, such as BYD, Changan Automobile, Geely, and Li Auto [3] - Stable performance low-valuation leading parts manufacturers like Huayu Automotive and Fuyao Glass [3] - Core players in the electrification and intelligentization sectors, including Desay SV, Ruikeda, Kobot, and Bertley [3] - Opportunities arising from domestic circulation and local replacements, such as Lingdian Electric Control, Sanhua Intelligent Control, Xingyu Co., and Shangsheng Electronics [3] - Strong vehicle manufacturers driving demand for core components, including Top Group, Wencan Co., and Xusheng Group [3] Market Overview - The automotive sector experienced a weekly change of 0.16%, ranking 9th among 31 sectors. The automotive industry outperformed the CSI 300 index during the week [5] - The weekly performance of major indices was as follows: Shanghai Composite Index -0.34%, CSI 300 -0.08%, Shenzhen Component Index 0.84%, and ChiNext Index 2.74% [5] - In sub-sectors, the weekly performance was: automotive services -5.23%, automotive parts 0.11%, passenger vehicles 0.23%, commercial vehicles 0.25%, and motorcycles and others 1.70% [5] Top Performing Stocks - The top five performing stocks in the automotive sector for the week were: Chaojie Co., Huamao Technology, Yueling Co., Huapei Power, and Zhenghe Industrial [6] Underperforming Stocks - The bottom five performing stocks in the automotive sector for the week were: Xiamen Xinda, Rongtai Co., Longji Machinery, Kailong High-Tech, and Disengli [7]

格隆汇勾股大数据显示，腾讯控股(00700)、小米集团-W(01810)、中远海控(01919)、快手-W(01024)、 吉利汽车(00175)、碧桂园服务(06098)、巨子生物(02367)、百融云-W(06608)、中国飞鹤(06186)、名创 优品(09896)、安东油田服务(03337)、明源云(00909)、瑞声科技(02018)、金山软件(03888)、万物云 (02602)、津上机床中国(01651)、蒙牛乳业(02319)、多点数智(02586)、歌礼制药-B(01672)、趣致集团 (00917)、同道猎聘(06100)、海尔智家(06690)、绿城服务(02869)、北森控股(09669)、中远海发(02866)、 信利国际(00732)、锅圈(02517)、德康农牧(02419)、中国石油化工股份(00386)、连连数字(02598)、医渡 科技(02158)、联易融科技-W(09959)、枫叶教育(01317)、永达汽车(03669)、VITASOY INT'L(00345)、 绿茶集团(06831)、富智康集团(02038)、家乡互动(03798)、博雅互动(00434)、IGG ...

二、 谁在看这个车？买车用户都是什么样的？ 当地一共9家比亚迪4S店，其中5家海洋4家王朝，要是看过我之前的文章可能大家有疑问，咋王朝少了一家？是的，那家店的老板给自己玩没了…… 所以最近买车的客户都有点心慌慌，不过售后没啥可担心的，或者多来看看我们海洋网的车呀，稳得很。 上个月店里一共卖了110台车左右，说实话，我说这话你们可能不信，但不信我也没办法，就是海豹07这个车从9月多上市以来还一台没卖过，真的没有夸 张。这车提成600左右，其实我也很想卖的。 海豹07现车有9台，最多的就是230KM尊荣版，指导价16.98万，有6台，剩下的都是130KM尊贵型，指导价15.98万。颜色上暖色烟茶和亚特兰蒂斯灰比 较多，按以往的经验也是这些颜色好卖一些。 大家好，我是比亚迪海洋网的销售，今天来聊聊海豹 07 DMI这款车。 一、 销量如何?卖得最多的是什么配置和颜色？ 看这款车的客户没有明确特征，都是家庭用车，城区代步和接送孩子啥的，不过据我观察家里条件都还可以，因为全款和增购比较多。 因为26款还没卖过，我说下老款的案例吧。有一位女士是在别的品牌4S店做保险驻店专员，想着买台混动车，当时还有报废补贴，这得抓紧提车 ...

导语：固态电池第一股，浮出水面。 证监会披露信息显示， 卫蓝新能源与中信建投签署上市辅导协议，目标直指创业板。 消息一 出，市场迅速给它贴上"固态电池第一股"的标签。 以下文章来源于金角财经 ，作者田羽 金角财经 . 城市新中产读本，拆解经济事件背后的逻辑。 作者 | 田羽 来源 | 金角财经（ID: F-Jinjiao) 站在当下这个时间点，卫蓝新能源看起来像是下一只 "摩尔线程"的候选人，但它要面对的，恐怕 是一场更漫长、更复杂的耐力赛。 华为、小米都投了 卫蓝新能源之所以备受资本市场期待，除了踩中 "固态电池"这个新能源里最性感的赛道，更关键 是 它背后站着 "中国锂电之父"、中国工程院院士陈立泉。 陈立泉 1940 年出生， 1964 年毕业于中国科技大学物理系，随后进入中科院物理所工作。 1976 年，陈立泉在西德马克斯·普朗克科学促进学会固体所进修。 一边是 "中国锂电之父"陈立泉院士领衔的中科院班底，一边是 华为、小米、吉利、蔚来等产业 资本真金白银的站台 ，再叠加今年下半年固态电池指数的集体躁动，卫蓝新能源尚未敲钟，预期 已经被提前打满。 类似的场景， A 股并不陌生。上一次市场在"新技术 + ...

同一家4S店内，如何区隔高端品牌、大众品牌？ 12月18日，广汽集团自主品牌改革有了新进展，埃安、昊铂两大子品牌在现有渠道的基础上，进行渠道 融合，即在一家4S店内同时销售、服务、维修埃安、昊铂两个品牌的汽车。 根据规划，昊铂、埃安两者品牌定位不变，前者定位高端领域，后者定位大众市场。目前，昊铂车型的 售价覆盖15万~100万元，而埃安车型的售价在6万~40万元。 同时，二者的主力车型价格区间存在明显差异，昊铂主力车型价位在20万元区间，埃安主力车型价位在 10万元区间。 按照计划，昊铂与埃安品牌的渠道融合将分两个阶段推进。 第一阶段，在2026年1月31日前，首批昊铂与埃安的销售网点将正式公布，预计将覆盖全国超30个城 市，届时同一销售网点可以实现双品牌的销售和服务功能。 第二阶段，在2026年3月31日前，昊铂与埃安品牌将完成渠道全面融合，形成超1000家销售网点、100% 覆盖全国四线以上城市的网络，昊铂服务网络有望从目前的200家增加到1000家。 此外，传祺BU也已进入筹备落地阶段，广汽与华为乾崑联手打造的启境品牌也已独立运营。 从行业看来，自2024年以来，汽车行业品牌正加速整合：上汽集团组建"大 ...

吉利汽车回购明细 | 日期 | 回购股数（万股） | 回购最高价（港元） | 回购最低价（港元） | 回购金额（万港元） | | --- | --- | --- | --- | --- | | 2025.12.18 | 190.80 | 16.800 | 16.260 | 3179.71 | | 2025.12.17 | 231.60 | 17.000 | 16.550 | 3861.46 | | 2025.12.16 | 299.90 | 17.200 | 16.720 | 5054.44 | | 2025.12.15 | 199.10 | 17.750 | 17.160 | 3474.85 | | 2025.12.12 | 136.20 | 17.820 | 17.290 | 2392.41 | | 2025.12.11 | 182.40 | 17.710 | 17.290 | 3184.90 | | 2025.12.10 | 153.70 | 17.820 | 17.440 | 2713.61 | | 2025.12.09 | 163.40 | 17.910 | 17.420 | 2870.26 | | ...

| 中国未来产业崛起引领全球新材料创新发展 | | --- | | 2026.06.10 -> 06.12 上海新国际博览中心(N1-N5)馆 | | 2026未来产业新材料博览会 | （FINE），围绕机器人、汽车、无人机、数据中心、航空航天、AI、新能源等未 | | | --- | --- | --- | | 来产业共性需求特设6大展区， | N3 先进电池与能源材料展区 聚焦 | 固态 | | 电池 | 、钠电池、钙钛矿、液流电池、电容器 等 | | | ， | 欢迎咨询：18957804107 | | 【DT新材料】 获悉，近日， 吉利 在固态电池赛道动作频频，除对 2026-2027年度固态电池电芯研发物料进行采购 招标外，12月9日，据"吉利招标"信息， 浙江 绿色智行科创有限公司 （下称"绿色智行"）发布招标公告"，对2026-2027年度固态电池电芯研发物料进行招标。 该项目总投资7100万元，主要用于固态电池阶段性实验成果的放大性测试，以验证电池稳定性、阻抗性以及使用寿命，摸索最佳数据，为规模化生产提供依据。 公告同时显示，该项目电池主要分为两类： 60Ah电池和<1Ah电池。60Ah电池每 ...