摩根大通发表研究报告指，吉利汽车日前宣布其董事会已批准一项价值23亿港元的股票回购提案，相信 回购提案显示管理层认为吉利被市场低估，鉴于其稳固的盈利动能，本年至今市场对其今明两年预测已 上调介乎25%至30%；摩通又预测吉利今年第三季纯利将达到约38亿元，主要受销量带动。摩通预期， 若吉利汽车执行持续理想，其2025及2026财年纯利有潜在10%至15%上行空间。摩通维持对吉利的"增 持"评级，目标价22港元。 ...

Core Viewpoint - Geely Automobile achieved record high sales in September, with market share expected to continue increasing [1] Group 1: Sales Performance - Geely Galaxy's sales experienced significant year-on-year growth, with new models expected to further boost sales [1] Group 2: Company Developments - The official launch of Zeekr 9X and the planned share buyback demonstrate the company's confidence in its development [1] Group 3: Financial Projections - The company forecasts EPS of 1.49, 1.75, and 2.12 yuan for the years 2025 to 2027, respectively [1] - The target price is set at 24.48 HKD, maintaining a buy rating based on a comparable company PE average valuation of 15 times for 2025 [1]

消息面上，10月6日，吉利汽车宣布拟实施一项最高金额达23亿港元的股份回购计划。本次回购资金来 自吉利汽车现有的资本及现金储备，体现了吉利汽车充裕的资本实力和稳健的财务状况。吉利汽车董事 会认为，实施计划符合公司及其股东的整体最佳利益。在目前市场不明朗的情况下进行股份回购，能展 示公司对其业务展望及前景充满信心，并最终为公司带来裨益及为股东创造价值。 吉利汽车(00175)逆市涨超3%，截至发稿，涨2.84%，报19.57港元，成交额7.15亿港元。 ...

Core Insights - The article highlights the upcoming CINE2025 Solid-State Battery Exhibition and Industry Annual Conference scheduled for November 6-8, 2025, in Guangzhou, with significant participation expected from over 200 exhibitors and 20,000 professional attendees [2] Industry Overview - In the first seven months of 2025, China's new energy vehicle (NEV) sales reached 8.22 million units, marking a year-on-year increase of 38.5%, with a penetration rate of 45.0%, up by 8.6 percentage points [2] - The installed capacity of power batteries in China during the same period was 343.52 GWh, reflecting a year-on-year growth of 40.2% [2] Market Dynamics - A total of 48 power battery companies provided vehicle matching in the first seven months of 2025, a decrease of 3 companies compared to the previous year, primarily serving passenger vehicles [4] - The top 10 power battery companies by installed capacity included CATL, BYD, and others, with a total installed capacity of 153.46 GWh [5][6] Battery Technology Trends - The market concentration for the top 10 battery companies (CR10) was 95.3%, a decrease of 1.3 percentage points year-on-year, attributed to the rise of companies like Tsinghua Unigroup and others [6] - In terms of battery materials, the installed capacity for ternary batteries was 66.63 GWh (19.4% market share), down by 7.2 percentage points, while lithium iron phosphate batteries accounted for 276.56 GWh (80.5% market share), up by 7.2% [6] Battery Form Factor - The installed capacity for square batteries was 334.29 GWh (97.3% market share), showing a slight increase of 0.5 percentage points year-on-year, while cylindrical batteries accounted for 7.28 GWh (2.1% market share) [8] - The announcement by BMW Group regarding the upcoming use of large cylindrical batteries is expected to boost the market share of cylindrical batteries [8]

Core Insights - Chengdu's second industry investment increased by 21.3% year-on-year from January to August, becoming the main engine for investment growth in the city [3][4][5] Group 1: Investment Growth - The investment structure in Chengdu is being optimized, with a significant focus on effective investment and the cultivation of new productive forces [3][4] - The automotive industry in Chengdu saw a remarkable investment growth of 67.9% from January to August, leading among key sectors [5] Group 2: Key Projects and Collaborations - Nitto Denko's OLED polarizer production base has officially commenced operations in Chengdu, marking a significant expansion since the company's initial investment in 2017 [3][4] - A partnership between the Qingbaijiang District and Huawei has been established to enhance smart manufacturing and promote innovation in emerging industries [4][6] Group 3: Technological Advancements - The collaboration with Huawei is transitioning from "smart manufacturing" to "digital-physical integration," focusing on accelerating the transformation of traditional manufacturing and the development of new industries [6][7] - Chengdu's high-tech industry investment grew by 16.8% year-on-year from January to August, indicating a continuous increase in investment proportion [7]

10月8日，港股市场大幅回调。 截至午间收盘，港股市场三大指数均收跌，其中，恒生指数报26669.99点，跌1.07%。恒生指数成份股中，京东健康（06618.HK）涨约2%、美的集团 （00300.HK）跌1.45%、龙湖集团（00960.HK）跌超5%。 恒生科技指数则收报6478.81点，跌1.09%，成份股中阿里巴巴-W（9988.HK）跌超3%，美团-W（3690.HK）跌2.56%，蔚来-SW（09866.HK）跌0.5%，腾 讯控股（0700.HK）跌0.52%。 从具体板块来看，港股人工智能概念股走弱，截至午间收盘，汇量科技（01860.HK）跌7.33%、万国数据-SW（09698.HK）跌6.81%、金山云 （03896.HK）跌3.5%、百度集团-SW（09888.HK）跌3.38%、商汤-W（00020.HK）跌4.51%。 和誉-B（02256.HK）涨超8%，报19.37港元。 汽车板块中，小鹏汽车-W（09868.HK）涨1.82%，吉利汽车（00175.HK）涨2.94%。 光大证券在节前发布的研报认为，港股整体盈利能力相对较强，同时互联网、新消费、创新药等资产相对稀缺。此外， ...

Market Overview - The Hong Kong stock market experienced a significant pullback on October 8, with the Hang Seng Index closing at 26,669.99 points, down 1.07% [1] - The Hang Seng Technology Index closed at 6,478.81 points, down 1.09% [3] Stock Performance - Among the Hang Seng Index constituents, JD Health (06618.HK) rose approximately 2%, while Midea Group (00300.HK) fell by 1.45% and Longfor Group (00960.HK) dropped over 5% [1] - In the technology sector, Alibaba-W (9988.HK) fell over 3%, Meituan-W (3690.HK) declined by 2.56%, and Tencent Holdings (0700.HK) decreased by 0.52% [3] Sector Analysis - The artificial intelligence sector saw a decline, with Huya Technology (01860.HK) down 7.33%, GDS Holdings - SW (09698.HK) down 6.81%, and Baidu Group - SW (09888.HK) down 3.38% [3] - Conversely, the biopharmaceutical, automotive, and gold sectors performed well, with Chifeng Jilong Gold Mining (06693.HK) up 2%, Zijin Mining International (02259.HK) up 5.98%, and Shandong Gold (01787.HK) up 7.56% [3] Investment Insights - According to a report from Everbright Securities, the overall profitability of the Hong Kong stock market remains strong, with sectors like internet, new consumption, and innovative pharmaceuticals being relatively scarce [7] - The report suggests that despite several months of gains, the overall valuation of the Hong Kong market remains low, indicating a favorable long-term investment opportunity [7] - In the context of the ongoing AI industry trend and the potential onset of a Federal Reserve rate cut cycle, the Hong Kong market may continue to experience upward volatility [7]

（原标题：吉利汽车(00175)因认股权获行使发行4000股） 智通财经APP讯，吉利汽车(00175)发布公告，于2025年10月8日因集团雇员根据认股权计划(于2023年4 月28日获采纳)行使认股权而发行4000普通股股份。 ...

Core Viewpoint - Geely Automobile (00175) announced the issuance of 4,000 ordinary shares on October 8, 2025, due to employees exercising stock options under a plan adopted on April 28, 2023 [1] Summary by Relevant Sections - **Company Announcement** - Geely Automobile will issue 4,000 ordinary shares as a result of employees exercising stock options [1]

Core Insights - The automotive market experienced a significant surge in consumer interest during the National Day holiday, with daily foot traffic in stores doubling compared to normal levels [1][3] - A total of 236,000 vehicles were ordered over the six-day holiday period, indicating strong sales momentum [3][14] - The introduction of multiple new car models and various promotional activities contributed to heightened consumer enthusiasm [13][14] Sales Performance - Tesla's Shanghai store reported daily sales of 300 to 400 vehicles during the holiday, with new orders facing a waiting period of nearly one month [4] - NIO and other brands also noted increased customer traffic, particularly on October 1st and 2nd, marking a peak in sales activity [7][11] - BYD received over 236,000 new orders from October 1 to 6, which is 72% of its domestic sales for September [13][14] Consumer Behavior - Family-oriented car shopping became a notable trend during the holiday, with many customers visiting dealerships as a family activity [11] - Consumers showed a preference for larger vehicles, reflecting a shift in buying patterns [11][9] Promotional Activities - The surge in sales was driven by a combination of national and local subsidies, as well as significant discounts from car manufacturers [14] - Various regions implemented attractive subsidy programs, with some areas offering up to 20,000 yuan in total incentives [14] - Car manufacturers like Geely and BYD launched extensive promotional campaigns, including zero down payment offers and substantial trade-in bonuses [14][16] Events and Exhibitions - Numerous large-scale auto shows across the country attracted significant crowds, further stimulating market activity [16][17] - The Guangzhou International Auto Show and Shenzhen International Auto Exhibition reported high attendance and substantial vehicle bookings, contributing to overall market enthusiasm [16][17] Market Outlook - The automotive market's robust performance during the holiday reflects the resilience and vitality of China's consumer market [17] - Dealers remain optimistic about the fourth quarter, anticipating a 5% to 10% year-on-year sales growth [17]