Group 1 - BYD's sales in May reached a new high for the year, with 382,476 vehicles sold, representing a year-on-year increase of 15.3% [1] - The sales of pure electric passenger vehicles surpassed plug-in hybrid models for the second time since early 2024, with 204,369 units sold compared to 172,561 units [1] - BYD's overseas sales also hit a record high of approximately 88,900 units, indicating accelerated internationalization and new growth support [1] Group 2 - In late May, BYD initiated a new round of price cuts, with some models seeing reductions of up to 34%, prompting competitors like Leap Motor and Geely to follow suit [2] - The price cuts included significant discounts on 22 models, with the Sea Lion 07DM-i model dropping by 53,000 yuan, a 34% reduction from the original price [2] - This marks the third large-scale promotional effort by BYD in less than two months, indicating an aggressive pricing strategy [2] Group 3 - Despite the increase in sales, BYD's stock price has suffered, with a drop of over 4% in Hong Kong shares, continuing a decline of more than 15% from the previous week [3] - Analysts estimate that the price cuts could lead to a 30% to 40% increase in dealer foot traffic, but there are concerns about the sustainability of this price-driven growth strategy [5] - BYD's cumulative sales for the year have reached 1.76 million units, but there remains a significant gap to the annual target of 5.5 million units, requiring an average monthly sales of approximately 534,000 units for the remainder of the year [5][6] Group 4 - The People's Daily has commented on the recent price wars among car manufacturers, emphasizing the need for fair competition and opposing the current trend [7] - The Ministry of Industry and Information Technology has also supported this initiative, stating that "price wars" have no winners and can lead to detrimental long-term effects on the industry [8]

Group 1: Hong Kong Stock Market Highlights - Mixue Group (02097) rose over 7%, reaching a new high, with Daiwa raising its target price to HKD 608, optimistic about same-store sales growth and store opening speed [1] - Lianlian Digital (02598) increased nearly 10% following the official enactment of the "Stablecoin Regulation" in Hong Kong [1] - Automotive stocks collectively declined, with Li Auto-W, Great Wall Motors, and GAC Group all dropping over 2%, as the Ministry of Industry and Information Technology and the China Association of Automobile Manufacturers opposed "involution-style" price wars [1] - CSPC Pharmaceutical Group (02005) fell over 7% after reporting a 36.9% year-on-year decline in revenue and a 59.5% drop in net profit attributable to shareholders for Q1, with expectations of a 45%-60% decline in profit for the first half of the year due to demand drop and intensified competition [1] - Solar energy stocks dropped across the board, with New Special Energy, Xinyi Energy, Fuyao Glass, and Xinyi Solar all declining over 4%, as the anticipated "531" rush in May did not materialize following the April rush [1] - Chinese property stocks fell collectively in early trading, with R&F Properties, Sunac China, New City Development, and Agile Group all dropping over 4%, as data showed a 10.8% year-on-year decline in sales for the top 100 real estate companies from January to May, with a 17.3% drop in May alone [1] Group 2: Other Notable Stocks - Chongqing Rural Commercial Bank (03618) rose nearly 5% after being included in the CSI 300 Index, becoming the first local financial institution from Chongqing to be included, with a 6.25% year-on-year increase in net profit attributable to shareholders for Q1 [2] - Baker Hughes (02149) increased over 8%, reaching a new high after completing a placement of 3 million new H-shares, raising approximately HKD 117 million [2] - Giant Bio (02367) fell over 4% amid ongoing controversies regarding its product components, with the company stating it received an apology from the relevant testing agency and will pursue accountability for the rumors [2] - Chip stocks declined across the board, with Hua Hong Semiconductor, Jingmen Semiconductor, SMIC, and Shanghai Fudan all dropping over 2%, influenced by fluctuating U.S. policies and a decline in the Philadelphia Semiconductor Index [2] - Beike-W (02423) dropped nearly 6% as Huaxi Securities reported a significant slowdown in second-hand housing transaction growth, with a mere 8% year-on-year increase in 15 cities for the first 29 days of May, the lowest since October of the previous year [2] Group 3: U.S. Stock Market Highlights - AstraZeneca (AZN.US) rose over 2% after its cancer drug Imfinzi received EU approval for specific muscle-invasive bladder cancer treatments [3] - Trump Media & Technology Group (DJT.US) increased over 2.4% after announcing the completion of approximately USD 2.44 billion in financing, planning to use about USD 2.32 billion for Bitcoin reserves, potentially becoming one of the largest Bitcoin holders among U.S. public companies [3] - Nvidia (NVDA.US) fell over 2.92% after the CEO announced plans to sell up to 6 million shares by the end of 2025 [3] - Palantir (PLTR.US) rose over 7.73% as reports indicated the Trump administration relies on its technology for inter-agency data sharing, with over USD 113 million in government contracts since Trump took office [3] - Costco (COST.US) increased over 3.12% after reporting Q3 earnings that exceeded expectations, with revenue of USD 63.2 billion, an 8% year-on-year increase, and EPS of USD 4.28, demonstrating its scale advantage and member loyalty [3]

Domestic News - The sales of the consumer goods trade-in program have exceeded 1 trillion yuan this year [2] - The Ministry of National Defense responded to negative remarks from the U.S. Secretary of Defense regarding China, stating that the U.S. will ultimately suffer backlash [2] - The U.S. Trade Representative's office has extended certain exemptions from Section 301 tariffs on China [2] - A commentary from the People's Daily emphasized that the "price war" in the new energy vehicle sector should not be encouraged [2] - New car manufacturers have collectively reported a significant increase in delivery volumes for May [2] International News - The UK Prime Minister Starmer announced plans to restore the UK's military readiness [2] - British media reported that the UK will urge the Trump administration to implement a zero-tariff agreement on steel [2] - Elon Musk stated that he does not want to be held accountable for actions taken by the U.S. government [2] - Turkish authorities have ordered the detention of dozens of opposition party officials, expanding the crackdown [2] - According to Nikkei News, the Bank of Japan has reserved the highest amount for potential losses in bond trading [2]

以下文章来源于新财富杂志 ，作者姬婧瑛 新财富杂志 . 《新财富》杂志专注以权威评价、深度研究，揭示资本的选择与逻辑，促进市场信息透明，改善资源配 置效率。 "内卷"和"价格战"无助于中国车企的国际化征途，盈利支撑的研发投入下，品质与服务才是强者的磨刀 石。 昨日，中汽协点名"某车企"意图发动价格战，工信部有关负责人发声，将采取措施，引发车圈巨震。 5月31日，中汽协发布《关于维护公平竞争秩序 促进行业健康发展的倡议》。 倡议指出，5月23日以来，某车企率先发起大幅降价活动，多家企业跟进效仿，引发新一轮"价格战"恐慌。无 序"价格战"加剧恶性竞争，将进一步挤压企业利润空间，进而影响产品质量和售后服务保障，不仅阻碍行业自 身健康发展，也将危害消费者权益，并带来安全隐患。为此，中汽协提出四点倡议，包括优势企业不为垄断市 场，挤压其他主体生存空间等。 （上下滑动，浏览全文） 关于维护公平竞争秩序，促进行业健康发展的倡议 近年来，我国新能源汽车产业快速发展，新能源汽车新车销售占比已经超过40%。当前，行业 整体运行呈现稳中向好态势，市场活力持续释放。我们也看到，一段时间以来，行业盈利水平 下降，以无序"价格战"为主要 ...

6月1日，各大新能源品牌不约而同地晒出了月销量成绩单。 其中，理想汽车交付40856辆，同比增长16.7%；小鹏交付新车33525辆，同比增长230％；小米汽车交付量超过28000台； 零跑汽车则再登榜首，交付45067台，同比增长148%。 新能源汽车销量速报 根据零跑汽车公众号，5月零跑汽车单月交付量为45067辆，增速超过148%，且连续三个月稳居造车新势力领先地位。 其中，零跑B10刚上市就获得了18项大奖，还做到了上市16天交付上万台的好成绩。按照这种趋势， 零跑或长 期位居 新势力榜首。 5月，小鹏汽车交付新车33525台，同比增长230%，且已连续7个月交付量突破30000台。1-5月，小鹏汽车累计交付新车 162578台，同比增长293%。 其中，小鹏X9销量为3227台，同比增长99%，创2025年高端纯电MPV品类销量新高，新款上市至今已连续六周 蝉联纯电MPV销量冠军。 小鹏P7+上市6个月，累计交付超55000台，将迎来第6万台新车下线。小鹏MONA M03上市9个月累计交付超12万台，蝉联 A级纯电轿车销量冠军。5月28日，小鹏MONA M03升级上市仅1小时，大定突破12566台。 ...

莫斯科铁路公司此前也表示，"非法干扰运输活动"导致桥梁坍塌，进而造成这列从莫斯科开往克里莫夫的客运 列车脱轨。 俄罗斯又一桥梁坍塌。 当地时间6月1日，俄罗斯库尔斯克州代理州长欣施泰因在社交平台发文称，该州一座桥梁在货运列车经过时倒 塌。 事发地点位于热列兹诺戈尔斯克区，特罗斯纳至卡利诺夫卡铁路线48公里处。桥梁坍塌导致一列正在行驶的货 运列车的部分车厢坠落至桥下公路，列车内燃机起火。 初步消息显示，一名内燃机车司机的双腿受伤，整个列车组成员已被送医救护。所有应急部门正在现场工作。 这是俄罗斯在24小时内发生的第二起桥梁坍塌事故。 5月31日晚，俄西部布良斯克州一座桥梁发生坍塌，导致一列客运火车脱轨。布良斯克州长博戈马兹说，这起 事件已造成至少7人死亡，另有30人被送医接受治疗。 据俄罗斯媒体6月1日报道，俄罗斯布良斯克州州长表示，5月31日晚坍塌的桥梁系遭炸毁。事发时正有列车经 过。 END 潜望系列深度报道丨 股事会专栏 丨 投资小红书 丨 e公司调查 丨 时报会客厅 丨 十大明星私募访谈 丨 长"大"了、变"新"了！丨一文看懂15岁"生日"的创业板指 丨 今起，中国免签国家+5！ 丨 两券商 IT人员" ...

魏建军直指"零公里二手车"的危害性：这种击穿底线的降价狂 欢，正在摧毁汽车流通根基。 作者：濮振宇 封图：经济观察报 在长城汽车董事长魏建军炮轰"零公里二手车"后，一些二手车商坐不住了。 " 只 要 价 格 便 宜 ， 就 是 好 事 情 "" 老 百 姓 需 要 的 ， 就 是 好 东 西 "" 我 不 管 是 不 是 乱 象 ， 它 就 是'香'"……在社交媒体上，近期有不少来自全国各地的二手车商集中发声，为"零公里二手车"辩 护。 "零公里二手车"，即已经被注册却并未销售给终端用户的汽车，名义上属于二手车，但车况与新 车基本相同（因没有实际行驶距离，被称为"零公里"），定价上则低于新车。 上述二手车商们为"零公里二手车"辩护的声音，并非所有人都买账。在社交媒体上，有网民担 忧"零公里二手车"的售后问题，还有网民担忧会有"调表车"冒充"零公里二手车"。 与网民的担忧相比，魏建军直指"零公里二手车"的危害性：这种击穿底线的降价狂欢，正在摧毁 汽车流通根基。耐人寻味的是，当前除了长城汽车，还没有其他整车企业针对"零公里二手车"做 出公开表态。 胡博结合网络相关统计信息推算认为，传统燃油车的"零公里二手车"占整 ...

卡在"颜值经济"和"消费降级"的矛盾之间，植发市场究竟还有没有春天？ 我们不再希望做低价宣传吸引客人之后，推销高价服务的事情。基于现在这种市场情况，我们也不再想 卷价格，该怎么报价就怎么报价。所以，去年大麦重新将"一口价"收费模式改回亿毛囊为单位收费定 价。 植发行业被资本捧为"医美黄金赛道"。但在"价格战"引发的信任危机、服务质量良莠不齐，以及术后纠 纷集中爆发等内外部因素的共同作用下，这个曾号称"市场规模超千亿"的行业正在陷入集体反思。 这种模式也让消费更加透明化，每一分钱都能对应到具体的毛囊单位，避免了 "打包定价" 的模糊性。 我们主张先诊后治，让消费者能根据专业诊断结果，明确自身所需种植的毛囊数量，实现 "需要多少植 多少" 的精准医疗。 当传统"毛囊搬运工"模式遭遇瓶颈，植发机构是继续在营销内卷中消耗，还是回归医疗本质？ 近期的第八届中国毛发学术大会上，大麦植发执行董事崔韶芳向36氪分享了她的观察（经编辑）： 不再卷"一口价" Q 过去一年，植发及养护市场发生了哪些变化？ A 我们统计到的两个数据挺让我震惊的。一个是植发机构数量，当前，包括大型连锁品牌、公立三甲医 院和单店在内，国内植发机构数量已 ...

针对近日车企掀起新一轮"价格战"，中国汽车工业协会发布《关于维护公平竞争秩序，促进行业健康发 展的倡议》，明确表示反对。工信部亦表态支持倡议，强调"'价格战'没有赢家，更没有未来"。明确的 信号、坚决的态度，给无序"价格战"踩下刹车，可谓及时。中国制造在许多领域之所以能从跟跑实现领 跑，最主要靠的不是低价，而是创新。曾经，不到10万的国产油车无人问津；如今，20多万的国产新能 源车"一车难求"……蜕变背后，在于有智能驾驶、先进电池、智能座舱等技术创新的支撑。今天的中国 制造，正处于从"价格导向"到"价值导向"跃升的关键阶段。眼下，新能源汽车产业发展一日千里，各国 车企也在加大投入研发新技术新产品，中国车企尽管颇有优势，但远没有到大幅领先、高枕无忧的境 地。车企须坚守长期主义发展理念，通过技术创新、管理创新降低生产成本，给广大消费者带来更优 质、更具性价比的产品。莫要在资本裹挟下扭曲商业逻辑，只会用价格战来追求短期市值和股价。否 则，等资本套现离场后，产业就只剩"赔本赚吆喝"的空壳，出海进程也将被迟滞。(人民日报) ...

5月31日早间，中国汽车工业协会（下称"中汽协"）发布《关于维护公平竞争秩序，促进行业健康发展的倡议》，其中提到：优势企业不为垄断市场，挤 压其他主体生存空间，损害其他经营者合法权益；企业在依法降价处理商品以外，不以低于成本的价格倾销商品，不进行诱导消费者的虚假宣传，扰乱市 场秩序，损害行业和消费者根本利益。 关于维护公平竞争秩序,促进行业健康发展的倡议 中国汽车工业协会 2025年05月31日 07:53 北京 关于维护公平竞争秩序, 促进行业健康发展的倡议 近年来,我国新能源汽车产业快速发展,新能源汽车新车销售占比已经超过40%。当 前,行业整体运行呈现稳中向好态势,市场活力持续释放。我们也看到,一段时间以 来,行业盈利水平下降,以无序"价格战"为主要表现形式的"内卷式"竞争,是行业效 益下降的重要因素。产品售后服务保障、企业创新发展需要持续加大投入,而"价格战" 严重影响企业正常经营,冲击产业链供应链安全,把产业发展带入恶性循环。 5月23日以来,某车企率先发起大幅降价活动,多家企业跟进效仿,引发新一轮"价格 战"恐慌。无序"价格战"加剧恶性竞争,将进一步挤压企业利润空间,进而影响产品质 量和售后服务保 ...