2025.06. 13 本文字数：772，阅读时长大约1分钟 作者 | 一财资讯 6月13日，三大股指集体收跌，沪指跌0.75%，深成指跌1.1%，创业板指跌1.13%。市场逾4400股 下跌。 创新药概念冲高回落，荣昌生物跌超8%，星昊医药、海创药业、三元基因、皓元医药等多股跌超 7%。 【资金流向】 主力资金全天净流入石油石化、国防军工、公用事业、交通运输、基础化工、社会服务等板块，净流 出汽车、传媒、食品饮料、计算机、医药生物、银行等板块。 具体到个股来看，海能达、恒玄科技、沪农商行获净流入8.44亿元、7.15亿元、6.93亿元。 净流出方面，比亚迪、贵州茅台、五粮液遭抛售13.92亿元、13.5亿元、7.5亿元。 【机构观点】 国金证券： 油气板块炒作升温较快，贵金属板块持续性更好。 盘面上，IP经济、创新药、AI应用、新消费、算力、智能驾驶、机器人、光伏、新能源车概念股纷 纷回调；石油、军工、黄金、海运板块逆势走强。 江海证券： 高股息石油石化板块将迎来轮动机会。深圳德讯证券顾问有限公司投资顾问刘奎军认 为，不确定性增大会降低市场风险偏好，低估值板块优势显现。华福证券许鸣鸣则认为，地缘风险不 会改 ...

Market Overview - The three major stock indices collectively declined, with the Shanghai Composite Index down 0.75%, the Shenzhen Component down 1.1%, and the ChiNext Index down 1.13%, resulting in over 4,400 stocks falling [2][4]. Sector Performance - The IP economy, innovative pharmaceuticals, AI applications, new consumption, computing power, smart driving, robotics, photovoltaic, and new energy vehicle sectors experienced a pullback, while the oil, military, gold, and shipping sectors showed resilience [4][9]. - The oil and gas extraction and service sector rose by 8.89%, with significant inflows of 12.32 billion, while the beauty care sector fell by 4.69% with outflows of 4.08 billion [5]. - The precious metals sector remained strong, with companies like Xiaocheng Technology rising over 11% and several others gaining over 5% [6]. Capital Flow - Main capital flows showed net inflows into the oil and petrochemical, national defense and military, public utilities, transportation, basic chemicals, and social services sectors, while there were net outflows from the automotive, media, food and beverage, computer, pharmaceutical, and banking sectors [9]. - Specific stocks such as Hainengda, Hengxuan Technology, and Shanghai Rural Commercial Bank saw net inflows of 8.44 billion, 7.15 billion, and 6.93 billion respectively [10]. - Conversely, companies like BYD, Kweichow Moutai, and Wuliangye faced sell-offs amounting to 13.92 billion, 13.5 billion, and 7.5 billion respectively [11]. Institutional Insights - Guojin Securities noted that the oil and gas sector is experiencing rapid speculation, while the precious metals sector shows better sustainability [12]. - Jianghai Securities highlighted that high-dividend oil and petrochemical sectors are likely to see rotation opportunities [12]. - The current market is under pressure at the 3,400-point technical level, with short-term adjustment pressures increasing due to external factors and resistance levels [12].

大家好我是大鱼 今天的资讯 包括下面几个消息 1. 投资市场新闻 2. 马斯克吐槽 欧洲监管阻力！ 关注这些领域的朋友 不要错过 今天重要的内容 OK let's go 先说特斯拉的股票 周五收盘是319.11% 全天下跌了7.32%美元 跌幅是2.24% 美国三大股指 纳指上涨0.16% 道指上涨0.24% 标普上涨0.39% 来看两个中国 汽车市场的重要消息 这是中国热搜榜上 一个热点话题 中国乘用车联合会 （CPCA）秘书长 崔东树在接受 汽车媒体 麻辣车评采访时 丢出一句让人瞠目结舌的话 他说我是绝对不会 买新能源车的！ 这话一出 简直像在新能源车 热潮中扔了一颗炸弹 为什么？ 因为中国政府正在 卯足全力推新能源车 甚至连特斯拉 都加入了 新能源车下乡的行列 目标直指农村市场 崔东树作为 汽车行业的权威人物 他这番和官方 唱反调的言论 到底在搞什么名堂？ 崔东树认为燃油车的 绿色环保性能其实不差 全生命周期的 碳排放比电动车低 尤其是因为电动车 电池制造过程的碳排放 高得吓人 他还提到 燃油车和新能源车的 价格与税收体系 完全不同 燃油车被当成奢侈品 税收重得像背了座山 新能源车则几乎免税 成本低到让 ...

Core Viewpoint - Geely Automobile has shown impressive growth in revenue and net profit, yet its market valuation remains low compared to competitors, raising questions about its future potential and challenges in the automotive industry [3]. Group 1: Financial Performance - In Q1 2025, Geely reported revenue of 72.5 billion, a year-on-year increase of 25%, and a net profit of 2.28 billion, excluding 3.59 billion in other income, representing a 134% increase [3]. - The company delivered 704,000 vehicles in the quarter, marking a 47.6% year-on-year growth [3]. - Geely's market valuation is under pressure, with a P/E ratio of less than 10, while some competitors have P/E ratios close to 30 [3]. Group 2: Sales Growth - Geely's sales target for 2023 was 1.65 million vehicles, with actual sales reaching nearly 1.69 million, achieving its goal [7]. - For 2024, Geely set a sales target of 1.9 million vehicles, and by mid-year, it had already surpassed 50% of this target [7]. - In the first five months of 2025, Geely's cumulative sales reached 1.173 million vehicles, a 48.6% increase year-on-year, which is 85% of BYD's sales in the same period [9]. Group 3: New Energy Vehicle Strategy - Geely's new energy vehicle (NEV) sales have seen significant growth, with a penetration rate approaching 50% by Q1 2025 [11][16]. - In 2022, NEV sales reached 354,000 units, accounting for 24.7% of total sales, and this figure increased to 28% in 2023 [13]. - The company has adopted a "two-legged" approach to NEVs, focusing on both pure electric and plug-in hybrid models [17]. Group 4: ZEEKR and Lynk & Co - ZEEKR, Geely's premium electric vehicle brand, has faced challenges, with sales growth slowing down significantly in Q1 2025 [35][36]. - Geely acquired 51% of Lynk & Co to bolster its competitive position in the market, as Lynk's sales also showed modest growth [38]. - ZEEKR's sales in 2024 were projected to reach 222,000 units, but the brand's performance has been inconsistent [35][36]. Group 5: New Product Lines - The Galaxy series, launched in 2023, has become a key driver of Geely's sales growth, with significant contributions to total sales in 2024 and early 2025 [45][48][50]. - The Galaxy brand focuses on long-range pure electric and plug-in hybrid models, targeting the 100,000 to 200,000 yuan price range [45]. Group 6: Capital Operations - Geely's capital operations are highlighted by significant income from the sale of subsidiaries, which accounted for 54.7% of net profit in 2024 [51]. - The company has shown a strong ability to leverage its assets for financial gain, indicating robust capital management strategies [51].

Core Viewpoint - Geely Automobile has shown impressive financial performance in Q1 2025, with revenue of 72.5 billion and a net profit of 2.28 billion, indicating significant growth in both revenue and profit compared to the previous year [1][2]. Financial Performance - In Q1 2025, Geely's revenue reached 72.5 billion, a year-on-year increase of 25% [1]. - The net profit, excluding other income of 35.9 billion, was 2.28 billion, reflecting a 134% year-on-year growth [1][2]. - The company delivered 704,000 vehicles in the quarter, marking a 47.6% increase year-on-year [1]. Market Position and Valuation - Despite strong performance, Geely's price-to-earnings ratio is below 10, and S&P has downgraded its rating to negative due to debt pressure and market competition [2]. - There is speculation that if Geely can challenge BYD's leading position in the new energy vehicle market, its market capitalization could reach 1 trillion, five times its current value [2]. Sales Performance - Geely's sales target for 2023 was 1.65 million vehicles, which was exceeded with actual sales of nearly 1.69 million [5]. - For 2024, the sales target was set at 1.9 million, which was later raised to 2 million, with actual sales reaching 2.18 million, a 29.1% increase [6]. - In the first five months of 2025, Geely's cumulative sales reached 1.173 million, a 48.6% increase year-on-year, representing 43.3% of the annual target [7][9]. New Energy Vehicle Strategy - Geely's new energy vehicle sales have seen significant growth, with a penetration rate approaching 50% by Q1 2025 [11][15]. - The company has adopted a "two-legged" approach, focusing on both pure electric and plug-in hybrid vehicles [16][20]. - In 2023, plug-in hybrid vehicle sales surged, accounting for 45.2% of Geely's new energy vehicle sales by Q4 [17]. Brand Development - Geely's premium brand, Zeekr, has faced challenges, with sales growth slowing in 2025 [30][31]. - The company has acquired a majority stake in Lynk & Co to bolster its market position [34]. - The newly launched Galaxy series has become a key driver of sales growth, contributing significantly to Geely's overall performance [41]. Conclusion - Geely's strong financial results and strategic positioning in the new energy vehicle market highlight its potential for future growth, despite facing challenges in market competition and brand performance [43][44].

Group 1 - AliExpress, a cross-border e-commerce platform under Alibaba, has launched a car sales business, starting with the sale of Chinese electric vehicles in the Middle East during the overseas 618 shopping festival [1] - The vehicles listed primarily include popular Chinese new energy cars such as BYD Yuan, Geely Xingyuan, Xiaomi SU7, Li Auto L7, and Xpeng G9, many of which are part of the AliExpress "100 billion subsidy" program for brands going overseas [1] - This initiative marks AliExpress as the first platform among the "four little dragons" of overseas expansion to sell cars, leveraging its strong presence in automotive parts, which has seen rapid growth and established a large global automotive user base [1] Group 2 - The rapid growth of Chinese automobile exports, particularly in new energy and intelligent connected vehicle technologies, supports this strategic move by AliExpress [1]

Investment Rating - The report maintains a "Buy" investment rating for BYD Company Limited (01211) with a target price of 470 HKD [1] Core Views - The report forecasts BYD's sales at 5.25 million units for the year and an annual increase of 4% in the average selling price (ASP) of new energy vehicles [1] - The estimated profit for the year remains unchanged at 57.5 billion RMB [1] - BYD's management emphasizes that all business operations are under the listed company [1] Financial Overview - BYD's accounts payable and notes payable for 2024 are projected to total 244 billion RMB, with approximately 98% of other payables (around 143 billion RMB) related to supplier debts, totaling about 387 billion RMB [1] - The report suggests that this level of accounts payable is manageable compared to BYD's projected annual revenue of 777 billion RMB and net cash of 74 billion RMB [1] Sales Projections - Management anticipates overseas sales to exceed 900,000 units this year, with total sales expected to maintain over 20% growth [1] - BYD's long-term overseas sales target is set between 4 to 6 million units, while domestic sales targets range from 6 to 7 million units, based on an 80-90% market share in the domestic new energy vehicle sector, where BYD holds approximately 30% [1] - BYD's Chairman Wang Chuanfu stated that the goal of selling 10 million units annually will be achieved "not too long" from now [1]

近日，比亚迪再掀价格战，引发市场对其库存高企的担忧。 据追风交易台消息，花旗分析师Jeff Chung及其团队在6月6日发布的报告中表示，比亚迪5月底的国内库存稳定在60.9万辆 （约2.12个月的销售量），并预计到2025年底库存将降至1.26个月，可以支撑其全年550万辆的销量目标。 报告中，花旗维持了对比亚迪的"买入"评级，设定目标价高达727港元，较其当前股价而言仍有约80%的上行空间。 | | | Dec-24 | Jan-25 | Feb-25 | Mar-25 | Apr-25 | May-25 | Jun-25 | Jul-25 | Aug-25 | Sep-25 | Oct-25 | Nov-25 | Dec-25 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | d | BTD domestic inventories | 450,000 | 480,550 | 539,759 | 562,957 | 603,045 ...

碳酸锂周报 供应有所修复，价格延续震荡 长江期货股份有限公司交易咨询业务资格：鄂证监期货字[2014]1号 【产业服务总部|有色中心】 资深研究员：李 旎 执业编号：F3085657 投资咨询号: Z0017083 2025/6/9 01 周度观点 ⚫ 供需状况： 供应端：据百川盈孚统计，5月产量环比增加1.9%至73020吨。本周碳酸锂产量环比增加615吨至16013吨，4月碳酸锂产量环比减少 9%至71652吨，锂盐厂复产放量较多。近期皮尔巴拉矿业将2025财年的锂精矿生产指导产量下调至70万-74万吨，Bald Hill选矿厂 计划于2024年12月初暂时停止运营。海外进口方面，2025年4月中国锂矿石进口数量为62.3万吨，环比增加16.5%。其中从澳大利亚 进口29.8万吨，环比减少3%，自津巴布韦进口10.6万吨，环比增加82%，自尼日利亚进口8.9万吨，环比增加4%。4月碳酸锂进口量 为2.8万吨，环比增加56%，自智利进口碳酸锂2万吨，占比71%。 成本：进口锂辉石精矿CIF价周度环比下跌，部分外购锂矿生产碳酸锂厂家出现成本倒挂。自有矿石及盐湖企业利润有一定支撑，氢 氧化锂厂商成本压力较大。 ...

经济观察报记者 邹永勤 经过连续九周的阴跌，碳酸锂期货价格正在迎来曙光。 广州期货交易所（下称"广期所"）数据显示，2025年6月6日，碳酸锂主力合约上涨0.23%，以60440元/吨报收，单周（6月3日至6月6日，下同）涨幅约 1.07%。这是近两个月以来该品种周K线图的首次收阳。 对此，有市场人士指出，碳酸锂作为新能源车的核心原材料，其价格下跌使得车企有了降价的空间；而车价的下跌则会有效刺激销量，反过来提振对碳酸锂 的需求，从而形成正反馈效应。但问题是，为何在需求依旧增长的背景下，碳酸锂价格在这两年半时间里却出现了崩跌？ 但现货市场似乎仍无见底迹象。根据万得数据，碳酸锂（99.50%电，国产，下同）6月6日报60180元/吨，单周下跌了500元/吨，再度刷新2021年2月份以来 的新低。 "虽然当前6万元/吨的价格已经跌破部分锂矿的成本区，但由于盐湖提锂和澳洲矿等因素导致行业边际成本不断下滑，所以不排除碳酸锂价格后市仍将继续 向下寻底的可能。"博时基金权益投资四部投资总监助理兼基金经理郭晓林在6月6日接受经济观察报采访时指出，除非能够出现高成本产能批量停产的情 况，否则碳酸锂价格短期内仍难以真正筑底。 从 ...