该行将2025至27年销量预测分别上调2%、1%及2%，总收入预测上调1%、2%及2%，每股盈利预测上调 1%、6%及5%，目标价由24港元升至25港元，重申"买入"评级。 美银证券发表研究报告指，吉利汽车第三季收入按年增长27%至892亿元，主要受交付量按年增长43% 及平均售价提升所推动。得益于规模经济效益提升、营运效率改善及产品组合优化，毛利率按年上升 1.2个百分点至16.6%。期内净利润按年增长59%至38亿元，首三季累计净利润达131亿元。 ...

期内净利润同比增长59%至38亿元人民币，首三季累计净利润达131亿元人民币，占该行全年预期的 77%。计及外汇损失及特殊项目后，集团第三季经调整利润为40亿元人民币，按季增长25%; 估算单车 净利润为5,200元人民币，同比及按季分别增长27%及17%。 智通财经APP获悉，美银证券发布研报称，吉利汽车(00175)第三季收入同比增长27%至892亿元人民 币，主要受交付量同比增长43%及平均售价提升所推动。得益于规模经济效益提升、营运效率改善及产 品组合优化，毛利率同比上升1.2个百分点至16.6%。该行将2025至27年销量预测分别上调2%、1%及 2%，总收入预测上调1%、2%及2%，每股盈利预测上调1%、6%及5%，目标价由24港元升至25港元， 重申"买入"评级。 ...

Volkswagen AG has slashed the cost of developing electric vehicles for the Indian market by nearly one-third and is actively scouting for a domestic partner to revive its long-stagnant presence in the country, according to people familiar with the matter. Europe’s largest automaker has brought down its EV platform development cost for India to about $700 million from the earlier estimate of $1 billion, the people said, requesting anonymity. The reset reflects the company’s reluctance to continue committing ...

Core Insights - The Baron WealthBuilder Fund appreciated 3.20% in Q3 2025, underperforming the S&P 500 Index (up 8.12%) and the MSCI ACWI Index (up 7.62%) [3] - Despite recent underperformance, the Fund's long-term annualized return since inception is 12.93%, which is below the S&P 500 Index's 14.44% but above the Global Index's 10.67% and peers' 8.08% [3][4] - The Fund's performance has been impacted by stock selection, style biases, and active industry exposures, particularly due to lower exposure to high-performing large-cap stocks [19][20] Performance Summary - QTD performance for various share classes: Retail Shares 3.17%, Institutional Shares 3.20%, S&P 500 Index 8.12% [4] - YTD performance: Fund Institutional Shares 5.00%, S&P 500 Index 14.83% [4] - 1-Year performance: Fund Institutional Shares 10.81%, S&P 500 Index 17.60% [4] Sector and Stock Contributions - Significant contributions to performance came from Tesla, Inc. (TSLA) and SpaceX, with Tesla's share price increasing by 40% due to strong automotive business and AI initiatives [10][12] - The Baron Real Estate Fund and Baron Emerging Markets Fund also contributed positively, with the former benefiting from non-REIT real estate-related companies [14][15] - The semiconductor sector, particularly stocks like NVIDIA and Taiwan Semiconductor Manufacturing Company, showed strong performance, driven by robust earnings and AI growth [16] Challenges and Underperformance - The Fund's underperformance relative to the S&P 500 was attributed to stock-specific weaknesses, particularly in the "Magnificent Seven" tech stocks [19] - The Fund's exposure to small- and mid-cap stocks was costly, as these segments lagged behind large-cap stocks during the period [20][25] - Active industry exposures, particularly in lagging sectors like Hotels and Leisure, negatively impacted performance [21] Investment Strategy - The Fund employs a strategy focused on small- and mid-cap growth stocks, which represent 61.3% of the Fund compared to 19.2% for the S&P 500 Index [25] - The investment philosophy emphasizes long-term business fundamentals rather than short-term market fluctuations [24] - The Fund's structure as a fund of funds allows for broad equity exposure while maintaining a consistent investment approach across underlying Baron Funds [24]

The all-electric Jeep Recon is finally here https://t.co/bVAsunvkHL ...

Key TakeawaysChina successfully secured €4 billion from a dual-tranche bond offering, while the People's Bank of China (PBoC) injected a net 115 billion yuan into open market operations.U.S. layoff notices spiked to 39,000 in October, a level only surpassed in 2008, 2009, 2020, and May 2025, signaling a deteriorating labor market.Gold prices strengthened, with XAU/USD moving above $4,050 amid a risk-off sentiment, though overall stability persists ahead of crucial U.S. economic data releases.The EV sector d ...

随着汽车保有量持续增长，汽车消费领域的纠纷也日益增多。从新车质量问题到售后服务争议，从金融 贷款陷阱到二手车交易纠纷，消费者在购车、用车、修车、卖车的各个环节都可能遇到问题。了解正确 的投诉渠道，掌握有效的维权方法，对每位车主来说都至关重要。 一、汽车消费常见问题类型 在寻求投诉渠道前，先要明确自己遇到的是哪类问题： 作为消费者维权的主要官方渠道，12315在处理汽车消费纠纷 【下载黑猫投诉客户端】时具有以下优 势： 国家市场监督管理总局缺陷产品管理中心是处理汽车产品质量问题的专业机构： 各地交通运输局下设的维修管理部门负责汽车维修行业的监管： 针对汽车环保相关问题，可向生态环境部门投诉： 四、社会化投诉平台：高效便捷的维权选择 1．产品质量缺陷：发动机、变速箱等核心部件故障，电子系统问题，车辆异响等 2．售后服务争议：保修期内拒绝理赔，维修质量不达标，过度维修等 3．销售环节问题：新车存在瑕疵，虚假宣传，强制搭售保险等 4．金融贷款纠纷：利率不透明，捆绑销售，还款条款争议 5．二手车交易陷阱：里程表篡改，事故车隐瞒，手续不全等 二、官方投诉渠道：维权的基础保障 1． 市场监督管理部门 - 12315平台 专 ...

Summary of the Asia Pacific Summit 2025 Conference Call Industry and Company Focus - **Industry**: Global Economics and Investment Strategies - **Company**: Morgan Stanley Key Points and Arguments Economic Outlook - Morgan Stanley's 2026 outlook anticipates moderate global growth and continued disinflation as the base case, with the US being a critical swing factor due to resilient consumption and AI-driven productivity [1][8] - Asia's real GDP growth is projected to accelerate from 4.3% in Q4 2025 to 4.7% in Q4 2026, driven by non-tech exports, improved capital expenditure, labor market conditions, and consumption [1][8] China’s Economic Policy - China's reflation is expected to be gradual, with modestly expansionary and supply-centric policies, including anticipated rate and RRR cuts [1][8] - Spending will focus on tech localization and infrastructure, with slow progress on rebalancing and social welfare support [1][8] Investment Recommendations - Strong performance is expected in risk assets, particularly US and Japanese equities, due to favorable policy and AI-driven fundamentals [1][8] - In Asia, a preference for Japan over emerging markets is recommended for 2026, with Chinese equities likely stabilizing after strong returns in 2025 [1][8] Corporate Themes and Trends - The conference will address four major global themes: Tech Diffusion, Multipolar World, Future of Energy, and Longevity [2] - Ongoing trends in Asia include China's Emerging Frontier, The New India, Singapore at 60, and Korea Renaissance [2] Keynote Speakers - Notable speakers include Chee Hong Tat (Minister for National Development, Singapore), Teo Chee Hean (Chairman, Temasek Holdings), and Sebastian Thrun (Founder of Google X and Waymo) [3] Market Positioning - Morgan Stanley recommends tight market-risk positions versus benchmarks, indicating a cautious approach to market volatility [1][8] - The firm highlights a preference for Japan within its coverage universe, suggesting a strategic focus on Japanese equities [1][12] Earnings Forecasts - The forecast for TOPIX EPS for fiscal years 2025, 2026, and 2027 is ¥185 (+9%), ¥198 (+7%), and ¥225 (+14%) respectively, indicating a positive outlook for Japanese equities [13] Asset Allocation - Morgan Stanley's asset allocation recommendations include a focus on equities, particularly in the US, Europe, Japan, and emerging markets, while maintaining a cautious stance on government bonds and credit [9] Other Important Content - The conference will feature various panel discussions and presentations from Morgan Stanley analysts across different regions, providing insights into global economic trends and investment strategies [3][14][15] - The agenda includes discussions on navigating post-tariff growth divergence, the role of AI in various sectors, and the implications of geopolitical dynamics on investment strategies [14][15][17][18]

November 18, 2025 10:28 PM GMT Geely Automobile Holdings | Asia Pacific 3Q25 NDR takeaways – Targeting 30% unit profit growth in 2026 Geely aims to grow market share in China by 20% in 2026 (~9% YTD '25) thanks to strong model pipeline across group brands. We think this would alleviate industry uncertainty. 50-80% overseas growth in 2026. Management reiterated 300k units of NEV exports in 2026 (vs. 110k in 2025), accounting for most of the YoY overseas sales growth, assuming steady ICEV exports. Geely looks ...

比亚迪汽车：钛系列10万台销量达成。 ...