2、亚马逊云科技（AWS）首席执行官马特·加曼于12月2日发表主题演讲。 宏观经济 今日关注 1、第八届大数据应用实践大会于12月2日举办。 1、外交部发言人12月1日表示，日本在口头上搪塞敷衍，在行动上一意孤行，中方敦促日方以史为鉴、 深刻反省，严肃对待中方要求，老老实实收回错误言论，以实际行动体现对中方的政治承诺。 2、国家邮政局消息，截至11月30日，今年我国快递业务量已突破1800亿件，超过2024年全年的1750.8 亿件快递业务量，创历史新高。 3、12月1日起，2026年度个税专项附加扣除信息确认开始，确认时间为12月1日至31日，纳税人可通过 个人所得税App确认2026年度个税专项附加扣除信息。 1、12月1日，各家新能源车企11月成绩单陆续出炉： 4、中国物流与采购联合会12月1日发布《人工智能+采购供应链应用指南》。《指南》聚焦数智化、绿 色化、融合化发展方向，提出构建高效协同、安全可控的现代采购供应链体系。应用层面，聚焦全链条 关键场景，覆盖智能需求预测、采购文件合规审查、合同全生命周期管理、供应商动态管控等十大领 域，实现技术与业务精准适配。 5、国家发展改革委办公厅印发《基础设施领 ...

Core Insights - The competitive landscape of new energy vehicle manufacturers in China is undergoing significant changes as Q3 2025 financial reports are released, with Xpeng Motors showing remarkable growth while NIO and Li Auto face challenges [1][2][3] Company Performance - **Xpeng Motors**: Achieved a revenue of 203.8 billion yuan, with a year-on-year growth of 101.8%. Despite a net loss of 3.8 billion yuan, this represents a 79% reduction in losses compared to the previous year. The company delivered 116,007 vehicles, marking a 149.3% increase year-on-year [4][6][8] - **NIO**: Reported a revenue of 217.9 billion yuan, with a year-on-year growth of 16.7%. The net loss was 34.8 billion yuan, a 31.2% reduction from the previous year. NIO delivered 87,701 vehicles, a 40.8% increase year-on-year [4][12][14] - **Li Auto**: Generated a revenue of 274 billion yuan, but experienced a 36.2% year-on-year decline. The company reported a net loss of 6.24 billion yuan, ending an 11-quarter streak of profitability. Vehicle deliveries fell by 39% to over 93,000 units [4][9][11] - **Leap Motor**: Achieved a revenue of 194.5 billion yuan, with a year-on-year growth of 97.2%. The company reported a net profit of 1.5 billion yuan, marking its second consecutive profitable quarter. Leap Motor delivered nearly 174,000 vehicles, a 101.8% increase year-on-year [4][15][16] Strategic Adjustments - The new energy vehicle market is shifting from growth to competition based on product, technology, and brand strength, as companies adapt their strategies to survive in a more competitive environment [3][16] - **Xpeng Motors**: Focused on improving operational efficiency and profitability, launching new models like the X9 Super Range Extender, which aims to address consumer pain points regarding range and charging speed [7][8] - **Li Auto**: Shifted focus towards AI integration in vehicles, moving away from traditional family-oriented branding to emphasize technological advancements [10][11] - **NIO**: Reduced operational costs and refocused on core automotive sales, moving away from previous explorations in other business areas [12][13] - **Leap Motor**: Adjusted its strategy to enter the range extender market and target the high-end SUV segment, while also attempting to elevate its brand image [15][16]

Core Viewpoint - The majority of popular Chinese concept stocks experienced an increase in their closing prices on Monday, with the Nasdaq Golden Dragon China Index rising by 0.87% [1] Group 1: Stock Performance - Alibaba saw a significant increase, rising over 4% [1] - Pinduoduo increased by more than 1% [1] - NetEase rose by over 5% [1] - Baidu experienced a rise of over 2% [1] - Xpeng declined by more than 2% [1] - Beike fell by over 3% [1] - Li Auto dropped by more than 2% [1] - NIO saw a decrease of over 5% [1]

美股三大指数集体收跌，道指跌0.89%，纳指跌0.38%，标普500指数跌0.53%，热门科技股多数下跌，博通跌超4%，谷歌、微软跌超1%，英伟达、苹果涨超 1%。加密货币、太阳能板块跌幅居前，Sunrun跌超8%，Bit Digital跌超5%，Coinbase跌超4%。白银股、货运、鞋服、油气涨幅居前，美洲白银公司涨超 6%，纳伯斯实业涨超3%，耐克、卡骆驰涨超1%。芯片设计软件公司新思科技涨超4%，英伟达投资20亿美元购入该公司股票。 纳斯达克中国金龙指数收涨0.96%，热门中概股中，网易收涨4.9%，阿里巴巴涨4.4%，小马智行、新东方、文远知行、百度、拼多多至多涨3.4%，小鹏则跌 2.2%，理想跌2.5%，小米集团ADR跌3%，蔚来跌5.7%。 ...

Group 1 - French President Macron will visit China from December 3 to 5 at the invitation of President Xi Jinping [4] - The U.S. stock market saw a collective decline, with the Dow Jones down 0.89%, Nasdaq down 0.38%, and S&P 500 down 0.53% [4] - The cryptocurrency market experienced significant losses, with Bitcoin dropping nearly 30% since early October [4] Group 2 - International gold prices rose, with spot gold up 0.38% at $4239.15 per ounce [5] - International oil prices increased, with WTI crude oil up 1.57% at $59.47 per barrel [6] Group 3 - The number of planned flights from China to Japan has seen over 40% cancellations, totaling more than 1900 flights [8] - The Hong Kong government reported 151 fatalities from a recent fire incident, with over 30 individuals still missing [8] Group 4 - The China Logistics and Purchasing Federation released a guideline on the application of AI in procurement and supply chain management [9] - The guideline focuses on building an efficient, collaborative, and secure modern procurement supply chain system [9] Group 5 - NIO reported a vehicle collision incident, clarifying that the vehicle was not in autonomous driving mode during the accident [17] - NIO's safety and battery performance are under scrutiny, impacting confidence in the electric vehicle industry [18] Group 6 - Nvidia announced a $2 billion investment in Synopsys, aiming to integrate AI computing technology into industrial design and engineering [21] - This partnership is expected to significantly expand Nvidia's market reach in the industrial sector [21] Group 7 - Vanke proposed a one-year extension for the repayment of a 2 billion yuan medium-term note due to challenging business conditions [22] - The extension reflects ongoing risks in the real estate sector, prompting investor attention to the company's financial health [22] Group 8 - The president of PICC Property and Casualty was taken away for investigation, raising concerns about leadership stability in the insurance industry [23] - Under his leadership, the company saw significant growth in premium income, indicating potential impacts on market stability [23]

Major Events - 加科思-B (01167) published data on KRAS G12C and SHP2 combination therapy in The Lancet Respiratory Medicine [1] - 励晶太平洋 (00575) announced strategic entry into the US market by Deep Longevity in Q1 2026 [1] - 和誉-B (02256) received FDA approval for IND application of oral small molecule KRAS G12D inhibitor ABSK141 [1] - 中国生物制药 (01177) completed the first patient enrollment in Phase I clinical trial for its self-developed innovative drug TRD208 in China [1] - 天图投资 (01973) plans to sell 45.22% stake in 优诺中国 for HKD 814 million [1] - 万国黄金集团 (03939) donated HKD 7 million to support victims of the Hong Kong fire [1] - 和谐汽车 (03836) donated HKD 5 million for fire rescue efforts in Hong Kong [1] - 博雅互动 (00434) donated HKD 1 million for post-disaster reconstruction in Hong Kong [1] - 粤港湾控股 (01396) launched a self-developed quantum computing cloud service scheduling platform [1] - 中基长寿科学 (00767) plans to acquire 25% stake in 综合细胞库有限公司 for HKD 300 million [1] - 众安集团 (00672) plans to place approximately 7.15% of its shares at a premium of about 1.96%, raising approximately HKD 74.96 million [1] - 江苏宏信 (02625) plans to increase investment in 海科宏信 by HKD 53.21 million [1] Share Buybacks/Reductions - 百融云-W (06608) plans to repurchase up to HKD 450 million of Class B shares [2] - 锦欣生殖 (01951) intends to repurchase shares for no less than HKD 100 million [2] - 小米集团-W (01810) repurchased 10 million shares for HKD 402 million on December 1 [2] - 腾讯控股 (00700) repurchased 102.9 million shares for HKD 636 million on December 1 [2] - 美的集团 (00300) repurchased 125.48 million A shares for HKD 9.9971 million on December 1 [2] - 中远海控 (01919) repurchased 94.5 million shares for HKD 12.76 million on December 1 [2] - 美丽田园医疗健康 (02373) saw non-executive director 李方雨 increase holdings by 41,500 shares [2] Operating Performance - 比亚迪股份 (01211) reported approximately 4.182 million electric vehicle sales in the first 11 months, a year-on-year increase of 11.3% [2] - 吉利汽车 (00175) achieved total vehicle sales of 2.78775 million units in the first 11 months, a year-on-year increase of 42% [2] - 长城汽车 (02333) reported approximately 1.19965 million vehicle sales in the first 11 months, a year-on-year increase of 9.26% [2] - 赛力斯 (09927) recorded total vehicle sales of 58,100 units in November, a year-on-year increase of 36.34% [2] - 蔚来-SW (09866) delivered approximately 36,300 vehicles in November, a year-on-year increase of 76.3% [2] - 小鹏汽车-W (09868) delivered 36,728 smart electric vehicles in November, a year-on-year increase of 19% [2] - 奇瑞汽车 (09973) reported total sales of 255,800 vehicles across five brands in November, a year-on-year decrease of approximately 2% [3] - 理想汽车-W (02015) delivered 33,181 new vehicles in November [3]

Core Insights - The automotive industry in China is experiencing a mixed performance in November, with some leading companies showing a slowdown in sales growth or declines, while others achieve record sales [2][3][21] - BYD's November sales reached 480,186 units, a year-on-year decrease of 5.25%, with domestic sales down 26.81% [2][5][11] - New energy vehicle companies like Leap Motor and others have successfully met their annual delivery targets ahead of schedule [15][17] Group 1: Sales Performance - BYD's November sales were 480,186 units, failing to surpass the 500,000 mark [5][11] - SAIC and Geely saw significant year-on-year growth in November, with sales increasing by 19.75% and 53.36%, respectively [11][12] - Leap Motor's sales reached 70,327 units, marking a 75.08% increase year-on-year [4][15] Group 2: Market Trends - The expected year-end sales surge, known as the "tailwind effect," is cooling down, with many companies reporting lower growth rates compared to the previous year [21][22] - NIO's delivery guidance for Q4 remains unchanged, expecting deliveries between 120,000 and 125,000 units [21][22] - The suspension of vehicle trade-in subsidies in several regions is impacting short-term sales expectations [21][22] Group 3: Competitive Landscape - Geely's new energy vehicle penetration rate reached a record high of 60.50% in November, driven by the success of its Galaxy brand [12][14] - New energy vehicle companies like Lantu and Avita are also seeing significant sales growth, with Lantu's sales up 84.28% year-on-year [19][20] - Xiaomi and Xpeng have also set ambitious new sales targets for 2025, reflecting confidence in their market positions [17][15]

Core Viewpoint - The automotive industry in November showed a mixed performance, with some leading companies experiencing a slowdown in sales growth or declines, while others achieved record sales figures [2][16]. Group 1: Sales Performance - BYD's November sales reached 480,186 units, a year-on-year decline of 5.25%, with domestic sales dropping by 26.81% [3][7]. - Other companies like SAIC New Energy and Geely New Energy reported significant growth, with sales increasing by 19.75% and 53.36% respectively [9][12]. - New energy vehicle sales for Geely's Galaxy brand surged by 76% in November, contributing to its overall growth [9][12]. Group 2: New Energy Vehicle Trends - The overall new energy vehicle market is seeing a shift towards higher-end models, with companies like Geely making significant strides in this area [12]. - New entrants like Leap Motor and Xpeng have exceeded their annual delivery targets ahead of schedule, indicating strong market performance [14][15]. Group 3: Market Challenges - The anticipated year-end sales surge, known as the "tailwind" effect, appears to be cooling off, with many companies reporting lower growth rates compared to the previous year [16][17]. - The suspension of vehicle trade-in subsidies in several regions has created uncertainty in the market, affecting new orders and sales expectations [17][18]. Group 4: Future Outlook - Despite current challenges, industry leaders express optimism about long-term market recovery, suggesting that overall demand will stabilize over time [20].

Core Viewpoint - The new energy vehicle market is experiencing varied delivery performances among different manufacturers in November, with some companies showing growth while others face declines. The overall market sentiment is cautious due to tightening policies and consumer hesitation. Group 1: Delivery Performance - Leap Motor led the delivery numbers with 70,327 units in November, marking a 75.08% year-on-year increase and a slight 0.05% month-on-month growth, achieving its annual sales target of 500,000 units 45 days ahead of schedule [2][3] - Xiaopeng Motors delivered 36,728 units, reflecting an 18.88% year-on-year increase but a 12.58% month-on-month decline, marking its first monthly drop in six months [3][4] - NIO delivered 36,275 units, a 76.31% year-on-year increase, with its sub-brands showing significant growth, particularly the LeDao brand with a 132.07% increase [2][3] - Li Auto's deliveries were at 33,181 units, showing a 31.92% year-on-year decline, continuing a six-month trend of year-on-year decreases [4][5] Group 2: Future Projections and Strategies - Leap Motor aims to reach a sales target of 1 million units by 2026, supported by the launch of new models like the A10 and Lafa5, which cater to different market segments [3][4] - Xiaopeng Motors is expanding its overseas market presence, with a 95% year-on-year increase in overseas deliveries, and is optimistic about new models contributing to future growth [3][4] - NIO has set a quarterly delivery guidance of 120,000 to 125,000 units, needing to deliver over 43,000 units in December to meet this target [4] - Li Auto is focusing on enhancing its long-term competitiveness through organizational, product, and technological improvements, with a cautious delivery guidance of 100,000 to 110,000 units for the fourth quarter [5]

每经AI快讯，12月1日，热门中概股开盘涨跌互现，纳斯达克中国金龙指数涨约0.5%，网易涨超4%，阿 里巴巴涨超2%，百度涨超1%，理想汽车、蔚来跌超2%，小鹏汽车跌超1%。 （文章来源：每日经济新闻） ...