Core Insights - EXEED showcased its advancements in electrification, hybrid technology, and intelligent design during the EXEED International User Summit held in Shanghai, with 124 guests from 24 countries participating in track test drives and static displays [1][4][16] BEV Highlights - EXEED's BEV lineup includes models that accelerate from 0 to 100 km/h in approximately 3 seconds, featuring a turning radius of just 5.65 meters, the smallest in their class [2] - The ES BEV model demonstrates exceptional aerodynamics with a drag coefficient of 0.205Cd and delivers 8,000 N·m of wheel-end torque, achieving 0 to 100 km/h in 3.7 seconds [5] - The ET BEV features a peak output of 353 kW and accelerates from 0 to 100 km/h in 4.8 seconds, equipped with class-leading IAS intelligent air suspension [7][8] Hybrid Highlights - EXEED's hybrid technology includes the industry's first REEV Golden Extended-Range system and the exclusive Quad-Motor AWD PHEV [3][9] - The ET REEV model achieves 44.5% thermal efficiency, with one liter of fuel generating 3.7 kWh of electricity, and accelerates from 0 to 100 km/h in 4.9 seconds [9] - The RX PHEV features a combined output of 395 kW and accelerates from 0 to 100 km/h in 4.9 seconds, with a combined range exceeding 1,300 km [10] Intelligent Technology - The ET and ES models are equipped with VPD (Valet Parking Drive) and RPA (Remote Parking Assistance), enhancing parking convenience and safety [11][12] - The VPD system autonomously parks the vehicle and can be activated via a mobile app for remote retrieval [12] - The RPA allows the vehicle to park itself in tight spaces and can also exit the parking spot remotely [13] Premium Highlights - The all-new E02 and MX models were presented, featuring striking designs and advanced technology [14][15] - The E02 showcases a "Cloud Waterfall" grille and "Wind-Flow Horizon" beltline, while the MX features a "Starwing" light strip with 472 LEDs for a dazzling visual effect [14][15] Future Plans - EXEED aims to introduce its new energy vehicles to high-regulation markets such as Norway and Denmark, enhancing premium mobility solutions for local customers [16]

Core Insights - Haite High-tech's subsidiary, Huaxin Technology, has applications in various fields including 5G mobile communication, radar detection, new energy vehicles and charging piles, photovoltaics, rail transit, consumer electronics, optical fiber communication, and 3D perception [1]

Core Insights - The automotive market is undergoing a significant transformation, with the penetration rate of new energy vehicles reaching a historic high of 58.37% in September 2023, indicating a rapid shift from traditional fuel vehicles to electric ones [1] - Domestic brands have captured over 60% market share, marking a significant turnaround from being on the fringes to becoming dominant players in the market [1] - AI technology is emerging as a new driving force in the market, replacing the previous model of competing primarily on volume [1] Group 1: Industry Trends - The long-term development of automotive brands is no longer solely focused on price reduction and scale but on the determination and speed of transformation towards new energy [1] - Companies must decisively allocate resources towards new energy, restructure user-oriented organizational systems, and build unique technological advantages [1] - Embracing change and innovation is essential for companies to secure their place in the competitive landscape [1] Group 2: Case Collection Initiative - A case collection initiative titled "2025 Annual 21st Century New Automotive Excellent Cases" has been launched to gather examples from leading manufacturers and supply chain companies [2] - The initiative focuses on five categories: "Reconstructing User Value," "Multifaceted Technological Symbiosis," "Smart Manufacturing Empowering Industry," "Overseas Market Challenges," and "Embracing a New Future," aiming to collect 11 cases [2] - The framework for case collection is based on both quantitative data analysis and qualitative research, utilizing third-party databases for objective analysis [2] - The submission portal is open until November 7, 2025, with the final selected cases to be announced on November 20 during the 2025 New Automotive Annual Ceremony [2]

Group 1 - The automotive market is undergoing a significant transformation, with the penetration rate of new energy vehicles reaching a historical high of 58.37% in September 2023, indicating a rapid shift from traditional fuel vehicles to new energy vehicles [1] - Domestic brands have surpassed a 60% market share, marking a dramatic rise from the periphery to becoming key players in the automotive market [1] - AI technology is emerging as a new driving force in the market, replacing the old model of competing primarily on volume [1] Group 2 - The "2025 Annual 21st Century New Automotive Excellent Case" collection activity has been initiated to gather exemplary cases from leading manufacturers and supply chain companies in the automotive industry [2] - The case collection will focus on five categories: "Reconstructing User Value," "Diverse Technology Coexistence," "Intelligent Manufacturing Empowering Industry," "Overseas Market Challenges," and "Embracing a New Future," aiming to collect 11 cases [2] - The case collection process will utilize both quantitative data analysis and qualitative research, incorporating third-party data from organizations like the China Automobile Association and the Passenger Car Association for objective analysis [3]

Group 1: Yunji's IPO - Yunji officially listed on the Hong Kong Stock Exchange on October 16, raising a net amount of approximately HKD 593 million [1] - On its first trading day, Yunji's stock opened with a significant increase of 49.37%, reaching HKD 142.8 per share, and closed at HKD 120.5, giving it a total market capitalization of approximately HKD 8.281 billion [1] - Yunji is a leading AI-enabled robotics service company, holding a 6.3% market share in China's robotics service market and a 13.9% share in the hotel robotics service market for 2024 [1] Group 2: Zijin Gold International's Inclusion in Stock Connect - Zijin Gold International was added to the Hong Kong Stock Connect list effective October 16, 2025, due to adjustments in the Hang Seng Composite Large Cap Index [2] - On the announcement day, Zijin Gold International's stock closed at HKD 147.4, reflecting a 3.80% increase [2] Group 3: Strategic Partnership between JD and Changan Automobile - Changan Automobile and JD Group signed a strategic cooperation agreement on October 15, focusing on smart logistics vehicles and the development of new energy autonomous vehicles [4] - The partnership involves multiple brands under Changan and various sectors of JD, indicating a deep collaboration aimed at enhancing both manufacturing and digital capabilities [4] Group 4: Meet Xiaomian's IPO Application - Guangzhou Meet Xiaomian has submitted a prospectus to the Hong Kong Stock Exchange, aiming to become the first listed Chinese noodle restaurant chain [5] - Meet Xiaomian is the fourth largest Chinese noodle operator in China with a market share of 0.5% for 2024, indicating a notable position in a fragmented industry [5] Group 5: Hong Kong Stock Market Performance - The Hang Seng Index closed at 25,888.51, with a slight decrease of 0.09% on October 16 [6] - The Hang Seng Tech Index fell by 1.18% to 6,003.56, while the National Enterprises Index increased by 0.09% to 9,259.46 [6]

Core Insights - The 2025 GT World Challenge Beijing E-Town Round will take place from October 17 to 19, 2025, marking a significant return of international motorsport to Beijing after nearly a decade [1] - The event serves as a strategic opportunity for Beijing E-Town to showcase its industrial strength in intelligent and connected vehicles (ICVs) and aims to position the area as a world-class hub for ICVs through motorsport-driven advancements [2] Group 1: Competitive Advantages of E-Town - E-Town has established a comprehensive industrial chain for intelligent and new energy vehicles, generating over RMB 260 billion in total output value in 2024, supported by major OEMs and component suppliers [3] - The area benefits from special policy authorizations under the "Two Zones" Initiative, creating an ideal environment for motorsport innovation and positioning E-Town as a central node in the Beijing-Tianjin-Hebei ICV cluster [4] - E-Town's geographic advantages include seamless connectivity via Daxing International Airport and the Yizhuang intercity railway hub, enhancing access for international racing teams and experts [4] Group 2: Impact of Motorsport on Regional Development - The GT World Challenge aligns with E-Town's vision of becoming a hub for ICVs, showcasing advanced automotive technologies and serving as a real-world R&D driver for next-generation innovations [5][6][7] - The event will illustrate E-Town's integrated ecosystem of motorsport, mobility experience, and future transportation, demonstrating the co-evolution of manufacturing and smart mobility [8] - Data collected during the race will inform the development of national and industry standards for ICVs, enhancing safety protocols and technical specifications [9] Group 3: Sustainable Momentum from the GT World Challenge - The event will facilitate collaboration between OEM technical teams and component suppliers, enabling the adaptation of racing technologies for mass-market vehicles [10] - Global broadcast coverage will enhance E-Town's brand recognition, embedding its image in the global consciousness and highlighting its role as a global ICV hub [11] - The race weekend will stimulate local commerce through an integrated automotive tourism experience, boosting nearby businesses and creating new consumer engagement opportunities [12] Group 4: Advancing E-Town's Global Position - The GT World Challenge will elevate E-Town's visibility on the global automotive map, showcasing China's ICV capabilities to audiences in over 200 countries [13] - The event will attract global OEMs and component suppliers, fostering partnerships and encouraging international automakers to establish testing operations in E-Town [14] - Data gathered during the race will contribute to the refinement of national and international standards for ICVs, positioning E-Town as a leader in standard-setting [15][16]

Core Insights - China's electric vehicle (EV) exports doubled in September compared to the previous year, indicating a significant expansion into international markets [1][2] - Domestic passenger car sales increased by 11.2% year-on-year in September, a decrease from a 15% rise in August [1] Export Performance - Exports of new energy vehicles, including battery electric vehicles and plug-in hybrids, surged 100% to 222,000 units in September, slightly lower than the 224,000 units exported in August [2] - Chinese EV manufacturers are increasingly targeting markets in Europe and Southeast Asia due to domestic overcapacity and price wars affecting profit margins [3] Market Expansion - BYD, a leading Chinese EV manufacturer, reported that the United Kingdom has become its largest market outside China, with sales increasing by 880% year-on-year in September [4] - Chinese automakers are expanding investments in the Middle East and Africa following the imposition of tariffs on Chinese-made EVs by the European Union, U.S., and Canada [4] Domestic Market Trends - BYD's domestic sales fell by 5.5% in September compared to the same month last year, marking the first decline since February 2024, despite some competitors experiencing strong growth [5] - September is traditionally a peak sales month for the auto industry in China, aided by subsidies for trade-ins of new energy vehicles, although some local governments have recently suspended these payments [5]

Group 1: Electric Vehicle Sales Overview - In September, the total electric vehicle registrations in seven European countries reached 129,000 units, showing a year-on-year increase of 26% and a month-on-month increase of 56%, with pure electric vehicles accounting for 84,000 units, representing 65.4% of total registrations [1] - The penetration rate of electric vehicles in passenger car registrations was 29.8%, reflecting a year-on-year increase of 5.9 percentage points and a month-on-month increase of 0.4 percentage points [1] Group 2: Country-Specific Electric Vehicle Registrations - France registered 41,000 electric vehicles in September, with pure electric registrations at 31,000 units and plug-in hybrids at 9,000 units, resulting in a penetration rate of 28.9%, up by 1.3 percentage points year-on-year [2] - Italy saw 18,000 electric vehicle registrations, with pure electric at 7,000 units and plug-in hybrids at 11,000 units, achieving a penetration rate of 14.3%, an increase of 5.7 percentage points year-on-year [3] - Norway's electric vehicle registrations totaled 14,000 units, all of which were pure electric, leading to a penetration rate of 100.4%, up by 2.9 percentage points year-on-year [4] - Sweden registered 17,000 electric vehicles, with pure electric at 10,000 units and plug-in hybrids at 8,000 units, resulting in a penetration rate of 68.4%, an increase of 3.4 percentage points year-on-year [5] - Spain recorded 22,000 electric vehicle registrations, with both pure electric and plug-in hybrids at 11,000 units each, achieving a penetration rate of 26.1%, up by 13.8 percentage points year-on-year [6] - Switzerland had 8,000 electric vehicle registrations, with pure electric at 5,000 units and plug-in hybrids at 3,000 units, leading to a penetration rate of 38.6%, an increase of 7.5 percentage points year-on-year [7] - Portugal registered 8,000 electric vehicles, with pure electric at 5,000 units and plug-in hybrids at 3,000 units, resulting in a penetration rate of 42.9%, up by 6.1 percentage points year-on-year [8]

Core Insights - The retail market for narrow passenger vehicles in September is estimated to be around 2.15 million units, showing a year-on-year increase of 2.0% and a month-on-month increase of 6.5%, with new energy vehicle (NEV) retail expected to reach 1.25 million units, achieving a penetration rate of approximately 58.1% [1][3] - The new energy vehicle market continues to see stable pricing and increasing penetration rates, which supports the overall automotive market [3] Company Performance - **Leap Motor**: Delivered 66,657 units in September, a year-on-year increase of 97.4% and a month-on-month increase of 16.8%. The growth is attributed to strong product offerings like C10 and B01, with C10 accounting for 27.1% of deliveries [4][5] - **Xpeng Motors**: Reported 41,581 units delivered in September, up 94.7% year-on-year and 10.3% month-on-month. The company has expanded its charging network significantly, with over 2,590 self-operated stations and more than 14,000 charging piles [5][6] - **NIO**: Achieved 34,749 units delivered in September, reflecting a year-on-year increase of 64.1% and a month-on-month increase of 11.0%. New models like ES8 and ET9 were launched, enhancing the product lineup [6] - **Li Auto**: Delivered 33,951 units in September, a year-on-year decrease of 36.8% but a month-on-month increase of 19.0%. The company is focusing on expanding its charging network to maintain competitiveness [7] - **Zeekr**: Reported 18,257 units delivered in September, with a year-on-year decrease of 14.4% but a month-on-month increase of 3.6%. The new Zeekr 9X model was launched, featuring advanced technology [8] - **Xiaomi**: Delivered over 40,000 units in September, with the new SUV YU7 positioned as a competitive product in the market [8] Market Trends - The overall automotive market is experiencing growth, with stable pricing and increasing penetration of new energy vehicles, which is expected to continue supporting market dynamics [3] - The trend towards intelligent driving technology is accelerating, with companies like Xpeng and Huawei leading the charge in promoting and iterating on smart driving capabilities [9] - The automotive industry is witnessing a shift towards smart technology, which is becoming a critical competitive factor among manufacturers [10]

The Stock Exchange of Hong Kong Limited and the Securities and Futures Commission of Hong Kong take no responsibility for the contents of this Application Proof, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this Application Proof. Application Proof of VOYAH AUTOMOTIVE TECHNOLOGY CO., LTD. 嵐圖汽車科技股份有限公司 (the "Company") (A joint stock company incorporated ...