| 日期 | 回购股数 | 回购最高价 | 回购最低价 | 回购金额 | | --- | --- | --- | --- | --- | | | （万股） | （港元） | （港元） | （万港元） | | 2025.12.09 | 163.40 | 17.910 | 17.420 | 2870.26 | | 2025.12.08 | 153.40 | 17.910 | 17.510 | 2711.69 | 注：本文系新闻报道，不构成投资建议，股市有风险，投资需谨慎。 自12月8日以来公司已连续2日进行回购，合计回购316.80万股，累计回购金额5581.95万港元。 其间该 股累计上涨0.81%。（数据宝） 吉利汽车回购明细 （原标题：吉利汽车(00175.HK)12月9日回购163.40万股，耗资2870.26万港元） 证券时报•数据宝统计，吉利汽车在港交所公告显示，12月9日以每股17.420港元至17.910港元的价格回 购163.40万股，回购金额达2870.26万港元。该股当日收盘价17.510港元，下跌0.96%，全天成交额5.01 亿港元。 ...

Group 1: Passenger Car Market Performance - In November, the retail sales of passenger cars in China reached approximately 2.225 million units, representing a year-on-year decline of 8.1% and a month-on-month decrease of 1.1% [1] - Cumulative retail sales for the year amount to about 21.483 million units, showing a year-on-year growth of 6.1% [1] - The decline in November is unusual, as the market had previously experienced a 13% growth in the first half of the year, with a subsequent slowdown in the latter half [1] Group 2: New Energy Vehicle (NEV) Sales - In November, the sales of new energy passenger vehicles reached 1.321 million units, marking a year-on-year increase of 4.2% and a penetration rate of 59.3% in the overall passenger car market [2] - BYD led the monthly wholesale sales of new energy vehicles with over 470,000 units, followed by Geely with 187,000 units [2] - The penetration rate of new energy vehicles among domestic brands is 79.6%, while luxury brands and mainstream joint ventures have penetration rates of 38.8% and 8%, respectively [2] Group 3: Export Performance of NEVs - In November, the export volume of new energy vehicles reached 284,000 units, a significant year-on-year increase of 243.3%, accounting for 47.3% of the total export market [3] - The export of pure electric vehicles constituted 57% of the new energy vehicle exports, while plug-in hybrid models made up 42% [3] - The export of power batteries also saw growth, with domestic usage at 5.683 million kWh and export usage at 1.09 million kWh, reflecting year-on-year increases of 13% and 188%, respectively [3] Group 4: Market Outlook and Challenges - The retail share of new forces in the automotive market reached 22.1% in November, an increase of 5.9 percentage points year-on-year [4] - Predictions for December suggest a stable market performance, with potential for slight negative growth due to consumer urgency driven by upcoming tax policy changes [5] - Looking ahead, the market is expected to face pressure in 2026 due to the reduction of tax exemptions, which could significantly impact sales growth [5]

Core Viewpoint - Yingli Automotive (601279) emphasizes its strong partnerships with major domestic automakers and its strategic focus on expanding its business in the emerging electric vehicle sector [1] Group 1: Client Relationships - The company has established deep cooperative relationships with well-known domestic automakers, including FAW-Volkswagen, Beijing Benz, Volvo Asia Pacific, Brilliance BMW, SAIC Volkswagen, SAIC General Motors, Geely, and FAW Hongqi [1] - Yingli Automotive aims to consolidate and maintain its existing client base while actively developing new customer relationships [1] Group 2: Business Expansion - The company is gradually promoting its business with emerging OEMs focused on electric vehicles, collaborating with notable companies such as BYD (002594), Xpeng, NIO, Polestar, and other well-known North American electric vehicle manufacturers [1] - Yingli Automotive plans to continuously increase its production and sales scale, as well as its market share [1]

吉利全球全域安全中心依据全球最高安全标准建设，拥有吉尼斯认证的五大世界纪录，彰显了吉利在安全技术领域的领先实力。安全始终是吉利造车的 第一优先级，吉利长期致力于安全技术研发，近11年累计研发投入超过2500亿元。每一款吉利车型在上市前，均需经历超过12000次安全仿真分析，以及上 千次涵盖整车、系统与零部件级别的各类安全测试。截至目前，吉利以1562项安全专利数位居中国汽车企业之首。 12月12日，吉利全球全域安全中心即将正式启用。假人试验室作为该中心的核心优势之一，配备了60余套汽车碰撞测试假人，总价值超2亿元。其中， 吉利与湖南大学共同研发的辅助驾驶姿态汽车碰撞测试假人，依照中国人体体征专项开发，可用于验证不同坐姿下的乘员保护性能。即使在较大角度躺姿 下，该假人仍能提供有效保护验证。这是国内首个适用于躺姿测试的假人，也是首个由中国汽车品牌主导研发的碰撞测试假人。 ...

Core Insights - The main argument emphasizes the urgent need for technological equality and the determination for brand elevation within the Chinese automotive industry, as highlighted by the frustrations of industry leaders [8][23]. Group 1: Technological Equality - The automotive market in China shows that vehicles priced above 200,000 yuan account for 30% of the market, while those below 130,000 yuan make up 50%, indicating a gap in high-performance urban driving technology accessibility [2][19]. - Horizon Robotics launched the HSD driver assistance system, aiming to bring urban driving experiences to the mainstream market under 150,000 yuan [2][19]. - The push for technological equality is seen as essential for innovation, with the majority of consumers in the 100,000 to 200,000 yuan range driving the need for industry advancements [23][25]. Group 2: Brand Elevation - Chinese brands have historically been labeled as low-end and cheap, struggling to escape price wars despite technological advancements [25][27]. - The launch of the Zun Jie model, which achieved over 18,000 orders in 175 days at an average price of 900,000 yuan, reflects a shift towards high-quality development and brand elevation [21][25]. - The narrative of luxury in the automotive sector is being redefined by brands like NIO, which focus on user experience rather than traditional markers of luxury such as history and craftsmanship [25][27]. Group 3: Interconnection of Technology and Brand - The relationship between technological equality and brand elevation is complementary; technological advancements provide a solid user base for brands, while elevated brands support ongoing technological development [28][29]. - A healthy ecosystem in the automotive industry should consist of a broad base of technological accessibility supporting a few standout brands, ensuring both market growth and innovation [29].

其一，通过集成载体预合成-活性组分沉积沉淀、构筑疏水性功能层和原位自驱动造孔等创新性策略，创制了催化剂成套制备工艺，显著提高了催化剂 的机械强度和耐水性，得到高活性、高选择性、高稳定性的二氧化碳加氢制甲醇催化剂，使得二氧化碳与氢气总转化率、甲醇总选择性均高达99%以上。 目前，吉利创新中心二氧化碳加氢制甲醇催化剂已具备量产能力，可实现商业化销售，既能满足国内化工企业对低碳甲醇生产技术的需求，更可打破海 外催化剂的市场垄断，实现关键材料的国产化使用。 其二，团队已完成吨级催化剂放大制备，且基于核心催化剂性能数据，成功开发出适配的10万吨级二氧化碳加氢制甲醇工艺包，为技术规模化应用扫清 了工艺适配障碍。 未来，吉利创新中心将深度依托吉利甲醇循环经济生态体系，加快该技术的产业化布局与市场推广，助力全球二氧化碳资源化利用产业升级，为绿色低 碳转型注入强劲的技术动能。 吉利创新中心现已完成千吨级二氧化碳加氢制甲醇中试项目，实现2000小时持续稳定运行，催化剂性能无衰减，该技术的工程化可行性已得到充分验 证。2025年10月，该中试项目已顺利通过中国石油和化学工业联合会组织的72小时连续现场考核，考核结果表明：该中试装置 ...

来源：上海证券报·中国证券网 "上证鹰·金质量"奖是国内上市公司领域最具权威和影响力的奖项之一。本次评选通过聚焦在高质量发 展过程中勇于担当的市场经营主体，表彰业绩突出的上市公司与管理者，进一步助力中国资本市场高质 量发展。 "上证鹰·金质量"奖是国内上市公司领域最具权威和影响力的奖项之一。本次评选通过聚焦在高质量发 展过程中勇于担当的市场经营主体，表彰业绩突出的上市公司与管理者，进一步助力中国资本市场高质 量发展。 吉利汽车于2005年5月在香港联交所成功上市。吉利汽车发布的2025年第三季度财报显示，第三季度， 公司实现营业收入892亿元，环比增长15%，同比增长27%，单季收入创历史新高；核心归母净利润39.6 亿元，同比增长19%，盈利能力保持稳健。利润增长为公司带来了充裕的现金储备，截至9月末，净现 金水平达452亿元。 吉利汽车于2005年5月在香港联交所成功上市。吉利汽车发布的2025年第三季度财报显示，第三季度， 公司实现营业收入892亿元，环比增长15%，同比增长27%，单季收入创历史新高；核心归母净利润39.6 亿元，同比增长19%，盈利能力保持稳健。利润增长为公司带来了充裕的现金储备，截 ...

Core Viewpoint - The article discusses the transformation of traditional manufacturing through the implementation of industrial AI, specifically focusing on Geega's industrial AI platform developed by Geely Group, which aims to enhance efficiency and address challenges in the automotive industry [4][6]. Group 1: Industrial AI Implementation - Industrial AI is seen as a key solution to the structural challenges faced by traditional manufacturing, particularly in the context of real-time decision-making and dynamic optimization [6][10]. - Geega's industrial AI platform has been successfully implemented in Geely, Lynk & Co, and Zeekr factories, resulting in significant improvements such as a 15% reduction in order delivery cycles and a 13% decrease in quality loss costs [4][16]. Group 2: Platform Development Stages - The development of the Geega platform involves four key stages: 1. Standardization of industrial software to enable reuse and promotion [12]. 2. Construction of the GOS (Geely Operating System) to unify the computing environment and application portal [14]. 3. Launch of the AI application platform and business agents to facilitate human-machine collaboration [15]. 4. Establishment of a factory brain for continuous improvement through a PDCA mechanism [15][18]. Group 3: Practical Applications and Outcomes - In the Chengdu factory of Lynk & Co, the implementation of an integrated digital base led to a 13% reduction in quality loss costs, a 10% increase in logistics efficiency, and a 15% decrease in order delivery cycles [16]. - The Ningbo factory of Zeekr saw a 10% reduction in equipment failure rates and an 11% increase in equipment utilization through the establishment of a fully connected factory base [17]. Group 4: Intelligent Agent Architecture - The architecture of the Geega platform's intelligent agent system consists of three layers: perception, decision-making, and execution, enabling comprehensive monitoring and intelligent decision-making [18]. - The platform offers standardized industrial components and modules that can be easily integrated using a low-code approach, allowing users to customize applications without extensive technical knowledge [21]. Group 5: Methodology and Experience Summary - The article emphasizes three key points for constructing intelligent agents: 1. Starting from specific business problems to ensure AI is embedded in practical workflows [30]. 2. Defining data and system modifications based on identified issues to enhance decision-making capabilities [33]. 3. Fostering continuous evolution by accumulating knowledge and experience from each intelligent agent's deployment [34].

Core Viewpoint - Geely Automobile has made significant progress in the privatization transaction of Zeekr Intelligent Technology Holdings, marking an important step in the implementation of the "One Geely" strategy, with the merger expected to be completed by December 29 [1][5]. Group 1: Merger Details - Approximately 70.8% of eligible Zeekr shareholders chose stock compensation, while about 29.2% opted for cash compensation [2]. - Geely will issue approximately 777 million shares to shareholders choosing stock, granting them equal rights including dividends, voting rights, and capital returns [2]. - For those opting for cash, Geely will pay a total of approximately $701 million, with each Zeekr share convertible to $2.687 in cash or 1.23 shares of Geely stock [2]. Group 2: Strategic Implications - The merger aligns with Geely's "One Geely" strategy, which aims for comprehensive integration and optimization of its business segments, as outlined in the "Taizhou Declaration" [5]. - Following the privatization of Zeekr, Geely will cover mainstream, mid-to-high-end, and luxury segments, creating a diverse power system including fuel, pure electric, plug-in hybrid, and hydrogen electric vehicles [5]. - Geely aims to leverage Zeekr's position in the global luxury electric vehicle market, integrating its high-performance and intelligent features with Geely's established market presence [5]. Group 3: Financial Performance - For the first three quarters of 2025, Geely reported revenue of 239.5 billion yuan, a year-on-year increase of 26%, and a core net profit of 10.62 billion yuan, up 59% year-on-year [6]. - As of September 2025, Geely's total cash level reached 60.1 billion yuan, with a net cash level of 45.2 billion yuan [6].

Core Viewpoint - Geely Automobile has made significant progress in the privatization of Zeekr, marking the final stage of its "One Geely" strategy, with the merger expected to be completed by December 29 [5][11]. Summary by Sections Privatization Details - Approximately 70.8% of eligible Zeekr shareholders chose stock compensation, while about 29.2% opted for cash compensation [7]. - Geely will issue approximately 777 million shares to shareholders choosing stock, granting them equal rights including dividends and voting [7]. - For those opting for cash, Geely will pay a total of approximately $701 million, with each Zeekr share convertible to $2.687 in cash or 1.23 shares of Geely [8]. Strategic Implications - The completion of the merger will allow Geely to cover mainstream, mid-to-high-end, and luxury segments, creating a diverse power system including fuel, pure electric, plug-in hybrid, and hydrogen electric vehicles [11][12]. - Zeekr is positioned as a global luxury tech brand, while Lynk & Co targets the global high-end new energy market, and Geely Galaxy and China Star focus on mainstream branding [12]. Financial Performance - In the first three quarters of 2025, Geely achieved revenue of 239.5 billion yuan, a year-on-year increase of 26%, and a core net profit of 10.62 billion yuan, up 59% [13]. - As of September 2025, Geely's total cash level reached 60.1 billion yuan, with a net cash level of 45.2 billion yuan [13].