股 份 代 號 ： 02 33 3（ 港 幣 櫃 台 ） 及 823 33（ 人 民 幣 櫃 台 ） 香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 對 本 公 告 的 內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全 部 或 任 何 部 份 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任 。 長 城 汽 車 股 份 有 限 公 司 GREAT WALL MOTOR COMPANY LIMITED * （於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司 ） 自願公告 2025年10月產銷快報 本公告乃由長城汽車股份有限公司（「本公司」）自願刊發。 本公司董事會謹此宣佈，本公司於2025年10月產銷量詳細如下(單位:台)： | 車型 | | | 銷量 | | | | | | 產量 | | | | --- | --- | --- | --- | --- | --- | --- | --- ...

Investment Rating - The report maintains an "Outperform" rating for BYD, indicating a positive outlook compared to the market [2]. Core Insights - The report highlights BYD's stable operations and long-term investment value, with a core expectation of expanding overseas [1]. - Despite a challenging domestic market, BYD's product strength and potential for global expansion are seen as key drivers for future growth [9]. - The report adjusts revenue and profit forecasts for 2025-2027, reflecting a more cautious outlook while maintaining a positive long-term view [9]. Financial Data and Profit Forecast - For 2025, total revenue is projected at 870,123 million yuan, with a year-on-year growth rate of 12.0% [8]. - The net profit attributable to the parent company is expected to be 36,724 million yuan, reflecting a decline of 8.8% year-on-year [8]. - The report anticipates a compound annual growth rate (CAGR) of 24.1% for profits from 2025 to 2027, indicating strong growth potential despite short-term challenges [9]. Sales and Profitability - In Q3 2025, BYD's revenue was 194,985 million yuan, a decrease of 3.05% year-on-year, while net profit was 7,823 million yuan, down 32.60% year-on-year [9]. - The average selling price (ASP) per vehicle in Q3 was approximately 137,000 yuan, showing a slight decline [9]. - The overall gross margin for Q3 was 17.6%, reflecting a recovery in profitability [9]. Overseas Expansion - BYD's overseas automotive revenue in the first half of 2025 reached 83.1 billion yuan, with a gross profit of 22.7 billion yuan, indicating strong international performance [9]. - The report emphasizes the potential for overseas operations to contribute significantly to profit growth in the next 2-3 years [9].

Core Viewpoint - Changan Automobile reported a total sales volume of 2,374,002 vehicles from January to October, reflecting a year-on-year growth of 10.12%, with overseas sales accounting for 522,660 vehicles [1] Group 1 - Changan Automobile's total sales volume for the first ten months reached 2,374,002 vehicles [1] - The year-on-year growth in sales volume is 10.12% [1] - Overseas sales contributed 522,660 vehicles to the total sales [1]

Core Viewpoint - The global automotive industry is facing a significant chip shortage exacerbated by the Dutch government's intervention in the semiconductor company Nexperia, which has led to supply chain disruptions and production halts among major automakers [1][2][3]. Group 1: Supply Chain Disruptions - The Dutch government took control of Nexperia, which has triggered a global chip shortage impacting major automotive manufacturers like Volkswagen and Honda, leading to production halts and financial losses [2][3]. - Nexperia's Chinese subsidiary has reported a significant debt of 1 billion RMB to its packaging and testing factory in Dongguan, indicating financial strain and potential supply issues [1][4]. - Major automakers, including Ford and BMW, are facing imminent production cuts if the chip supply issue is not resolved within weeks [7][9]. Group 2: Impact on Automotive Manufacturers - Volkswagen reported its first quarterly loss in five years, attributing it to the ongoing chip shortage, while Honda has announced production halts at key facilities in North America [2][5]. - The European Automobile Manufacturers Association warned of potential production interruptions across the continent if Nexperia's supply does not stabilize soon [2][7]. - The automotive industry relies heavily on Nexperia's components, which are critical for various vehicle functions, making the shortage particularly acute [5][6]. Group 3: Market Dynamics and Alternatives - Automakers are scrambling to find alternative suppliers, but the transition is complicated by lengthy certification processes that can take 18 to 24 months, making immediate solutions difficult [10][11]. - The cost of sourcing components from alternative suppliers is expected to rise by 20-30%, further straining manufacturers already facing financial pressures [11][12]. - The geopolitical landscape is influencing supply chain decisions, with companies urged to mitigate risks by diversifying suppliers and considering local production options [13]. Group 4: Future Implications - The current crisis may accelerate the push for domestic semiconductor production capabilities in China, as companies seek to reduce reliance on foreign suppliers [13]. - The situation highlights the need for the automotive industry to adapt to geopolitical risks and enhance supply chain resilience [13].

长安汽车11月2日公告，2025年1-10月，长安汽车销量2,374,002辆，同比增长10.12%。其中，海外销量 522,660辆。2025年10月，长安汽车销量278,436辆，同比增长11.00%。其中，自主品牌销量236,888辆， 同比增长11.30%；新能源汽车销量119,167辆，同比增长36.14%。 ...

Core Viewpoint - Changan Automobile reported a significant increase in sales for the year 2025, particularly in the electric vehicle segment, indicating strong growth in the company's performance and market demand for new energy vehicles [1] Group 1: Sales Performance - In October 2025, the company achieved sales of 278,400 units, representing a year-on-year growth of 11% [1] - From January to October 2025, total sales reached 2,374,000 units, showing a year-on-year increase of 10.12% [1] Group 2: New Energy Vehicle Sales - In October 2025, new energy vehicle sales were 119,200 units, reflecting a year-on-year growth of 36.14% [1] - For the period from January to October 2025, new energy vehicle sales totaled 868,700 units, marking a substantial year-on-year increase of 60.58% [1]

Core Insights - Changan Automobile reported a total sales volume of 2.374 million vehicles from January to October 2025, with overseas sales accounting for 522,700 units [1] - In October, the production reached 285,400 units, representing a year-on-year increase of 17.86%, while sales were 278,400 units, up 11.00% year-on-year [1] - For the self-owned brand segment, October production was 245,900 units and sales were 236,900 units, reflecting year-on-year increases of 21.50% and 11.30%, respectively [1] - In the new energy vehicle category, October production was 133,700 units and sales were 119,200 units, showing significant year-on-year growth of 57.36% in production and 36.14% in sales [1] Summary by Category Overall Performance - Total sales from January to October 2025 reached 2.374 million vehicles, with overseas sales at 522,700 units [1] October Performance - October production was 285,400 units, a 17.86% increase year-on-year - October sales were 278,400 units, an 11.00% increase year-on-year [1] Self-Owned Brand Segment - October production for self-owned brands was 245,900 units, a 21.50% year-on-year increase - October sales for self-owned brands were 236,900 units, an 11.30% year-on-year increase [1] New Energy Vehicles - October production of new energy vehicles was 133,700 units, a 57.36% year-on-year increase - October sales of new energy vehicles were 119,200 units, a 36.14% year-on-year increase [1]

| | | | | | | | | | | FLA: 17 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | 产量 | | | | | 销量 | | | | 项目类别 | 本月 | 去年同期 | 本年累计 | 去年累计 | 累计同比 | 本月 | 去年同期 | 本年累计 | 去年累计 | 累计同比 | | 新能源汽车 | 429. 808 | 536. 134 | 3.643.377 | 3,297,044 | 10. 50% | 441, 706 | 502. 657 | 3.701.852 | 3,250,532 | 13. 88% | | -乘用车 | 424, 174 | 534.003 | 3.595.640 | 3, 283, 439 | 9.51% | 436, 856 | 500. 526 | 3.655.718 | 3,236,927 | 12. 94% | | -纯电动 | 219. 382 | 206. 499 | 1.797.558 | 1.379. 347 | 30. 32% | ...

比亚迪股份有限公司(以下简称"本公司")2025年10月产销快报数据如下： 注：本公司 2025 年 10 月出口新能源汽车合计 83,904 辆； 证券代码：002594 证券简称：比亚迪 公告编号：2025-060 比亚迪股份有限公司 2025年10月产销快报 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 务请注意，上述产、销量数字未经审核，亦未经本公司审计师确认，或会予以调整并有待最终确认。本公司刊发财务业绩后，股东及 潜在投资者务必详阅。 单位：辆 产量 销量 项目类别 本月 去年同期 本年累计 去年累计 累计同比 本月 去年同期 本年累计 去年累计 累计同比 新能源汽车 429,808 536,134 3,643,377 3,297,044 10.50% 441,706 502,657 3,701,852 3,250,532 13.88% -乘用车 424,174 534,003 3,595,640 3,283,439 9.51% 436,856 500,526 3,655,718 3,236,927 12.94% -纯电动 219,382 206, ...

【文/观察者网 王恺雯】多年来，香港特区的士（出租车）一直是丰田皇冠Comfort的天下。而现在，随着香港出租车行业的转型，国产新能源 车的"出镜率"正在变高。 据报道，五家运营商之一的星群的士主要采用的车型是上汽大通MAXUS MIFA 7，另一家运营商BigBoss Taxi则引入了广汽传祺E9。 《日经亚洲》称，虽然目前还不清楚每家运营商的车队中有多少国产电动汽车，但可以明确的是，长期由丰田主导的香港出租车已经迎来转折 点。 与此同时，国产汽车也正在赢得香港消费者的青睐，新展厅在香港如雨后春笋般涌现。 香港特区政府数据显示，7月国产品牌汽车在港销量约为1500辆，市场份额约为40%，日本品牌汽车所占份额不足30%。 "过去五年，香港市场发生了翻天覆地的变化。"报道指出，2020年7月，日本品牌占据了香港汽车近70%的销量，国产品牌则不足1%。 日媒《日经亚洲》11月2日刊文称，国产品牌车企正逐渐在香港出租车行业中站稳脚跟。不仅如此，曾作为外国汽车制造商进入中国内地门户 的香港，如今开始成为国产品牌制造商向海外扩张的跳板。 报道称，在香港，丰田汽车因其燃油经济性和可靠性而备受推崇。据说，香港约1.8万辆出 ...