近日，里昂发布研报称，宁德时代(03750)H股IPO禁售期结束后，过去两日股价调整9%，HA溢价收窄 至15%。以22倍及18倍的2026/2027财年市盈率计算，宁德时代H股估值相较其2025-2027财年31%的盈利 复合年增长率更具吸引力。该行将宁德时代H股评级由跑赢大市上调至高度确信跑赢大市，目标价维持 685港元。维持宁德时代(300750.SZ)A股高度确信跑赢大市评级及500元人民币目标价。 香港联交所最新资料显示，11月24日，宁德时代（300750）(03750)股东将股票由中国国际金融香港证 券转入香港上海汇丰银行，转仓市值37.64亿港元，占比5.19%。 ...

Group 1 - Lei Jun, the founder and CEO of Xiaomi Group, has personally invested over 100 million HKD to increase his stake in the company to 23.26% by acquiring 2.6 million shares [1] - Xiaomi Group has conducted significant stock buybacks, repurchasing 21.5 million shares for over 800 million HKD in the past two days, bringing the total buyback amount for the year to over 2.3 billion HKD [1] Group 2 - Jidu Automotive's affiliated company, Shanghai Jidu Automotive Co., Ltd., has filed for bankruptcy, with a registered capital of 400 million USD and operations in electric vehicle sales and parts manufacturing [2] - The company has faced financial difficulties since December of last year, leading to supplier claims for unpaid debts [2] Group 3 - Hema's budget community supermarket, Chaohe Suan NB, has officially opened its franchise application, with the first batch of cities including Shanghai, Hangzhou, Jiaxing, and Huzhou, and an annual franchise fee of 50,000 CNY [5] - Deep Blue Automotive has plans to take over Beijing Hyundai's Chongqing factory, although specific production timelines and models remain undisclosed [5] Group 4 - OpenAI has been actively recruiting from Apple's hardware engineering team, hiring over 40 employees, including high-level directors and engineers, which has caused dissatisfaction at Apple [5] - Meta is seeking electricity trading licenses to support its ambitious AI data center plans, which require significant energy resources [5] Group 5 - Tesla's CEO Elon Musk announced that the company is nearing completion of the AI5 chip and has begun development on the AI6 chip, aiming to produce a new AI chip annually [5] - The new chips will be utilized for autonomous driving and humanoid robots, with Musk personally involved in the design process [5] Group 6 - The global sales of new energy vehicles (NEVs) are projected to grow by 25% year-on-year in 2025, with a significant increase in sales expected in the third quarter [20] - BYD and Tesla lead the market in both battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) [21] Group 7 - China's textile and apparel exports from January to October 2025 reached 243.95 billion USD, reflecting a decline of 1.6% year-on-year, with October exports alone dropping by 12.6% [22]

Group 1 - Lei Jun, the founder and CEO of Xiaomi, increased his stake in the company by purchasing over HKD 100 million worth of shares, raising his ownership to 23.26% [2] - Xiaomi has conducted significant stock buybacks, repurchasing 21.5 million shares this month for over HKD 800 million, bringing the total buyback amount for the year to over HKD 2.3 billion [2] Group 2 - Jidu Auto's affiliated company, Shanghai Jidu Auto Co., has filed for bankruptcy, with a registered capital of USD 400 million and operations in electric vehicle sales and parts manufacturing [5] - The company has faced financial difficulties since December last year, leading to supplier claims for unpaid debts [5] Group 3 - Hema's budget community supermarket, Super Box, has opened its first franchise application channel, with an annual franchise fee of CNY 50,000, targeting large residential communities and mature business districts [8] - The initial cities for franchise openings include Shanghai, Hangzhou, Jiaxing, and Huzhou [8] Group 4 - Deep Blue Auto confirmed plans to take over Beijing Hyundai's Chongqing factory, although details on production timelines and models remain undisclosed [9] - The factory was sold for CNY 1.62 billion and has been listed for sale multiple times [9] Group 5 - OpenAI is aggressively recruiting from Apple's hardware engineering team, hiring over 40 employees in the past month, including high-level directors and engineers [9] - Apple has expressed dissatisfaction with OpenAI's recruitment efforts [9] Group 6 - Meta is seeking electricity trading licenses to secure long-term power purchases from new power plants, aiming to support its ambitious AI data center plans [9] - Other tech companies, including Microsoft and Apple, are also pursuing similar licenses [9] Group 7 - Tesla's CEO Elon Musk announced the imminent completion of the AI5 chip and the initiation of AI6 chip development, with a goal of producing a new AI chip annually [9] - Musk emphasized the expected production volume of these chips will surpass that of all other AI chips combined [9] Group 8 - The global sales of new energy vehicles (NEVs) reached 5.39 million units in Q3 2025, marking a 31% year-on-year increase, with battery electric vehicles (BEVs) growing by 48% [26][27] - BYD leads the market with a 15.4% share in BEVs and 27.9% in plug-in hybrid electric vehicles (PHEVs) [27] Group 9 - China's textile and apparel exports totaled USD 243.95 billion from January to October 2025, reflecting a 1.6% decline year-on-year [27]

Core Insights - Anhui province has emerged as a significant player in the automotive industry, particularly in the production of traditional and new energy vehicles, achieving the highest output in the country since 2025 [2][5] - The province's automotive production reached 2.06 million units from January to August, with new energy vehicles accounting for 1.02 million units, and exports of vehicles increased by 14% year-on-year [2][5] - The development of Anhui's automotive industry is supported by advanced manufacturing technologies, including automation and digitalization in factories [2][4] Industry Development - Anhui has adopted a "one chess game" strategy to optimize its automotive industry layout, creating an integrated development pattern centered around Hefei and Wuhu, supported by other cities [5][12] - The province has established a complete industrial chain, showcasing characteristics such as chain leadership, innovation aggregation, and talent support [5][12] - The automotive industry in Anhui includes major players like Chery, NIO, and BYD, forming a comprehensive product matrix covering passenger, commercial, and special vehicles [12][15] Technological Innovation - Companies in Anhui are focusing on technological innovation, with significant investments in automation and self-research capabilities [8][10] - Anhui Shenghuabo Automotive Electric Co., Ltd. has become a leader in the wiper market, holding approximately 30% of the domestic market share, and has developed fully automated production lines [7][10] - The province's automotive sector is supported by local universities and research institutions, fostering collaboration in key areas such as vehicle-grade chips and autonomous driving algorithms [10][15] Export and Global Reach - Anhui's automotive exports have expanded to over 150 countries and regions, maintaining the highest export volume in the country from January to August [17][18] - The province's new energy vehicle exports reached 5.45 billion yuan, reflecting a year-on-year growth of 57.6% [17][18] - Government policies have been implemented to strengthen the innovation-driven development of the new energy vehicle industry, creating a supportive ecosystem for businesses [17][18] Challenges and Future Outlook - Despite the growth, Anhui's automotive industry faces challenges in key areas such as high-performance chips and advanced sensors, indicating a need for further technological breakthroughs [18][20] - The industry requires a focus on developing composite R&D talents and enhancing industrial support capabilities to meet future demands [20][21] - As the global market for new energy vehicles grows, Anhui's automotive sector must improve in areas such as brand strength, service systems, and quality assurance to compete internationally [20][21]

【DT新材料】 获悉， 11月24日， 龙蟠科技 公告称，公司控股子公司常州锂源及控股孙公司南京锂源（合称为"卖方"）与 楚能新能源 全资子公司武汉楚能、孝 感楚能及宜昌楚能（合称为"买方"）共同签署了《之补充协议二》，对原协议相关条款进行补充与修订。 《原协议》约定：自2025年至2030年期间，卖方合计向买方销售15万吨磷酸铁锂正极材料产品。《补充协议二》约定：自2025年至2030年期间， 卖方合计向买方 销售130万吨磷酸铁锂正极材料产品。 如按照预计数量及市场价格估算，《补充协议二》与《原协议》总销售金额超人民币 450亿元 （最终根据销售订单据实结 算）。《补充协议二》自2025年11月24日起生效。 据悉，就在今年9月15日，龙蟠科技与 宁德时代 海外工厂签订15.75万吨符合双方约定规格的磷酸铁锂正极材料，合 同总销售金额超人民币60亿元。再往前就是6月，龙蟠科技公与 亿纬锂能 子公司Eve Energy Malaysia Sdn. Bhd.签署15.2万吨 磷酸铁锂正极材料，金额预计超50亿元。 加上本次 楚能新能源订单 ，龙蟠科技今年的大单金额已经超过560亿！！ 在今年3月，龙蟠科技通过 ...

每经记者｜杨建 每经编辑｜肖芮冬 据中国交通新闻网，11月21日，交通运输部负责人主持召开部务会，审议《正常类旋翼航空器适航规 定》《运输类旋翼航空器适航规定》《螺旋桨适航规定》等。会议强调，要认真指导督促有关地方加快 推动"两重"项目建设，形成更多实物工作量，扩大交通运输有效投资。要加快推进低空经济安全有序发 展和汽车租赁业高质量发展，持续做好交通运输领域促消费相关工作。会议强调，要着力提升民用航空 安全保障水平，大力促进民用航空事业健康发展。 NO.4 我国牵头制定的联合国全球技术法规《电动重型车辆车载电池耐久性》获表决通过 2025年11月11日至14日，联合国世界车辆法规协调论坛（UN/WP.29）第197次全体会议在瑞士日内瓦召 开。会议期间，由中国、美国、日本和欧盟共同牵头制定的联合国全球技术法规（UN GTR）《电动重 型车辆车载电池耐久性》经各缔约方投票表决通过，正式发布实施。下一步，工业和信息化部将继续组 织国内相关单位和专家，深度参与新能源汽车、智能网联汽车等领域的技术法规制定协调工作，持续提 升中国在汽车国际标准法规协调中的参与度与贡献度。 NO.5 上海集成电路产业投资基金二期增资至2 ...

Core Viewpoint - Dongfeng Motor and Huawei jointly launched a new energy vehicle brand "Yijing," marking a novel collaboration model in the automotive industry, targeting the high-quality family car market [1] Collaboration and Development - The partnership involves deep collaboration across the entire product lifecycle, including product definition, design, research and development, supply chain, and manufacturing [1] - Huawei will provide its complete product development and operational capabilities, including the latest technologies such as QianKun intelligent driving and Harmony cockpit [1] Manufacturing and Market Strategy - Dongfeng contributes its extensive experience in vehicle manufacturing and insights from 60 million users' travel needs, establishing a leading smart factory for the Yijing brand [1] - The brand aims to create a diverse product matrix covering multiple levels and models, with the first model set to debut at the Beijing Auto Show in April 2026, and plans to launch at least one new model annually thereafter [1]

Core Theme - The 23rd Guangzhou International Auto Show features Mercedes-Benz showcasing a blend of innovation and classic luxury under the theme "Oil and Electricity Coexist, Intelligence in Oil and Electricity" [1] Group 1: Concept Cars - The Mercedes-AMG GT XX concept car makes its debut in China, built on the AMG.EA platform, featuring three axial flux motors with a peak power exceeding 1000 kW (approximately 1360 horsepower) and a high-performance battery energy density of 300 Wh/kg [2] - The AMG GT XX set 25 world records, including a 24-hour distance of 5479 km, surpassing the previous record by 1518 km [2] - The Vision Iconic concept car combines classic design with digital technology, featuring a new shield-shaped grille and Art Deco interior design [2][3] Group 2: New Model Launches - Multiple core models are being launched at the auto show, including the C 260 L Sport Sedan Special Edition, which features a 2.0T engine and a 48V ISG intelligent motor [4] - The E-Class long-wheelbase model introduces the E 260 L Classic Edition, with standard navigation assistance and heated front seats across various models [4] - The S-Class adds the S 400 L Special Edition, equipped with navigation assistance and AIRMATIC air suspension across the lineup [4] Group 3: SUV and Other Models - The GLB SUV series introduces the more sporty and well-equipped GLB 220 Classic Edition, while the GLC SUV series adds the GLC 260 L 4MATIC Classic Edition [5] - The GLS SUV lineup now features standard intelligent navigation assistance Pro and additional comfort features in higher trims [5] Group 4: Brand Experience - Mercedes-Benz collaborates with McDonald's to showcase the new all-electric CLA with unique designs, engaging in a city party event in Guangzhou [6] - The company participates as a strategic partner in the "1000 Miglia Experience CHINA," displaying iconic models such as the classic "Tiger Head" (W140) and various AMG models [6]

Core Insights - The 23rd Guangzhou International Auto Show showcased a significant increase in visitor turnout and featured 1,085 vehicles, including 93 global debuts and 629 new energy vehicles, highlighting the strong presence of domestic brands and the acceleration of localization strategies by foreign brands [1][2] Industry Trends - The Chinese automotive market has crossed the critical point of electric vehicle (EV) adoption, with cumulative sales of new energy vehicles reaching 12.943 million units from January to October 2025, marking a 32.7% year-on-year increase and a market penetration rate exceeding 52.9% [2] - The shift towards electric and intelligent vehicles is no longer optional but essential, driving profound changes in product development, supply chain management, and overall industry ecology [2][4] Company Developments - Great Wall Motors unveiled its VLA advanced driver-assistance model, emphasizing the evolution of driving technology and user experience [3] - Ford and Buick are adapting their strategies to local market demands, with Ford's Mustang featuring a localized architecture and advanced technology, while Buick integrates local innovations for enhanced user experience [3] Innovation in the Supply Chain - The auto show highlighted the importance of collaboration across the automotive supply chain, with companies like Jiangsong Technology showcasing innovative solutions such as vertical parking systems with fire safety features and automated charging robots [5] - Xpeng Motors is venturing into humanoid robotics, demonstrating a bionic robot that integrates automotive technology and AI capabilities, indicating a trend towards multi-functional applications of automotive technology [6] - CATL presented its latest battery technology solutions, emphasizing the shift of core supply chain companies from mere suppliers to co-creators in the automotive ecosystem [6]

中国南方五省区10月用电量实现两位数增长 中新社广州11月24日电(王华 蓝旺)据中国南方电网公司24日消息，10月份，中国南方五省区(广东、广 西、云南、贵州、海南)全社会用电量达到1603亿千瓦时，同比增长10%，是该区域自今年2月以来，单 月用电量首次实现两位数增长，印证区域经济持续稳中有进。 分产业看，10月份，南方五省区第一、二、三产业及城乡居民生活用电量同比分别增长6.6%、6.5%、 12%和21.7%。 "10月份用电量的较快增长，离不开经济增长的正向拉动。"南网能源院供需协同研究部项目经理董楠分 析，数据显示，该区域内超七成行业用电量实现正增长，其中近四成行业增速超过10%。 来源：中国新闻网 编辑：陈俊明 广告等商务合作，请点击这里 本文为转载内容，授权事宜请联系原著作权人 中新经纬版权所有，未经书面授权，任何单位及个人不得转载、摘编或以其它方式使用。 关注中新经纬微信公众号(微信搜索"中新经纬"或"jwview")，看更多精彩财经资讯。 从行业用电情况看，产业升级与消费复苏共同构成增长主线，高技术及装备制造业与数字经济领域表现 亮眼。10月份，高技术及装备制造业用电量同比增长6.7%，其 ...