Group 1 - The Hang Seng Index and Hang Seng Tech Index both fell over 1% at the beginning of trading [1] - Meituan experienced a decline of nearly 9.5% [1] - Xpeng Motors dropped over 6% [1] - Alibaba saw a decrease of nearly 4% [1] - NIO and Li Auto both fell over 3.5% [1]

8月28日，精进电动跌5.49%，截至发稿，报9.64元/股，成交2.78亿元，换手率5.38%，总市值56.90亿 元。 广发鑫和混合A（004750）基金经理为吴迪。 资料显示，精进电动科技股份有限公司位于北京市朝阳区博大路20号院金辉时八区10号楼，成立日期 2008年2月25日，上市日期2021年10月27日，公司主营业务涉及电驱动系统的研发、生产、销售及服 务。主营业务收入构成为：新能源汽车电驱动系统94.75%，技术开发及服务4.58%，出售废料等 0.68%。 从基金十大重仓股角度 数据显示，广发基金旗下1只基金重仓精进电动。广发鑫和混合A（004750）二季度持有股数29.26万 股，占基金净值比例为0.21%，位居第二大重仓股。根据测算，今日浮亏损失约16.38万元。 广发鑫和混合A（004750）成立日期2018年1月16日，最新规模1.71亿。今年以来收益3.33%，同类排名 7005/8190；近一年收益7.48%，同类排名7076/7966；成立以来收益51.49%。 截至发稿，吴迪累计任职时间5年115天，现任基金资产总规模774.2亿元，任职期间最佳基金回报 21.49%， 任职 ...

对于小鹏汽车来说，全新小鹏P7不单单是一款产品这么简单。2020年4月首代小鹏P7上市后，就掀 起了电动车的运动热潮，还成为首款量产突破10万辆的国内造车新势力纯电车型。更值得一体的是，作 为小鹏汽车的旗舰车型，小鹏P7的推出还一举重塑了小鹏汽车的品牌定位，树立起"技术小鹏""科技小 鹏"的标签，由此将其带到了向上发展的道路。 全新小鹏P7"排场"不小。 8月26日，小鹏汽车新总部——小鹏科技园正式亮灯，新总部现场还陈列出7台全新小鹏P7；8月27 日，纽交所大屏祝贺小鹏汽车上市五周年，并预祝全新小鹏P7成功上市。 千呼万唤中，8月27日晚，全新小鹏P7终于正式上市，新车定位为未来AI豪华轿跑，共发布702长 续航Ultra、820超长续航Ultra、750四驱高性能Ultra与750四驱鹏翼Ultra四款车型，官方指导售价分别为 21.98万元、23.98万元、25.98万元和30.18万元。 小鹏汽车董事长、CEO何小鹏表示，"当下，造车新势力正迎来真正意义上的第一次全面车型换 代。"而历经五年打磨，全新小鹏P7不仅带来媲美百万级轿跑的驾控体验与800V+5C三电体系，更以极 致未来原创设计与全能AI科技 ...

Core Insights - Geely Galaxy's first "AI Technology Large Six-Seater Flagship SUV," the Geely Galaxy M9, has officially started global pre-sales with a price range of 193,800 to 258,800 yuan, making it the first full-size family new energy SUV under 200,000 yuan [1] - The Geely Galaxy brand achieved a significant milestone by delivering one million vehicles in just two years, becoming the fastest electric vehicle brand to reach this milestone [1] - In the first half of the year, Geely Galaxy's sales reached 548,000 units, a year-on-year increase of 232%, with a market share of 8.4%, marking a 4.8 percentage point increase [1] Product Features - The Geely Galaxy M9 features a body size of 5205mm x 1999mm x 1800mm and a wheelbase exceeding 3 meters, designed to provide a spacious interior with a 5.2㎡ area and an 88.3% room utilization rate [2] - The vehicle boasts a low drag coefficient of 0.285Cd, enhancing both design and energy efficiency, and offers six exterior colors and two interior colors for consumer customization [2] - Safety features include a high-strength star cage body structure, nine airbags, and a battery safety system that exceeds the upcoming national safety standards [2] AI and Technology Integration - The M9 is equipped with the Galaxy Flyme Auto 2 intelligent cockpit, powered by the Qualcomm 8295P flagship chip, and features an advanced emotional AI system named Eva, enabling human-like voice interactions [3] - The AI digital chassis includes advanced suspension systems and can achieve a 0-100 km/h acceleration in just 4.5 seconds, with a comprehensive range of over 1500 km [3] - The vehicle's advanced driver assistance system includes 11 cameras, 3 millimeter-wave radars, and a laser radar, providing a comprehensive perception system for enhanced safety [4] Market Positioning - Geely Galaxy M9 aims to deliver high value at a competitive price, positioning itself as a top choice in the mainstream market for vehicles priced around 200,000 yuan [5]

Group 1 - The core viewpoint is that Chinese automakers have promising opportunities in the European new energy vehicle (NEV) market, particularly regarding carbon credit income and the growth of plug-in hybrid vehicles [1] - Chinese automakers are expected to perform better than market expectations in terms of carbon credit income due to strict carbon emission regulations in the EU and the UK [1] - The penetration of economic vehicles is crucial for the increase of NEV market share in Europe, with a focus on the B/C segment, especially B-class SUVs [1] Group 2 - The China Securities New Energy Vehicle Industry Index includes 50 listed companies involved in various aspects of the NEV industry, reflecting the overall performance of leading companies [2] - As of July 31, 2025, the top ten weighted stocks in the index account for 55.33% of the total, including companies like CATL, BYD, and Changan Automobile [2] - The New Energy Vehicle ETF closely tracks the China Securities New Energy Vehicle Industry Index, providing investment opportunities in the sector [2]

地址 ：北 京市 朝阳 区朝阳 门外 大街 甲 6 号万 通中 心 D 座 20 层 （100020） 总机：010-8535 6666 本公司具备期货交易咨询业务资格，请务必阅读免责声明。 分析师：王静，执业资格证号 F0235424/Z0000771。 免责声明： 本报告中的信息均来源于公开资料，我公司对这些信息的准确性和完整性不作任何保证。报告中的内容和 任何机构和个人均不得以任何形式翻版，复制，引用或转载。如引用、转载、刊发，须注明出处为冠通期 货股份有限公司。 1. 周三夜盘收盘，国内期货主力合约涨跌互现，玉米涨超 1%。跌幅方面，沪 锌、SC 原油、纯碱、玻璃、对二甲苯（PX）、PVC、苯乙烯、纸浆、焦煤、PTA 跌超 1%。 2. 国际原油结算价上涨，美油主力合约收涨 0.96%，报 63.86 美元/桶；布伦 特原油主力合约涨 0.75%，报 67.20 美元/桶。 3. 国际贵金属期货普遍收涨，COMEX 黄金期货涨 0.55%报 3451.80 美元/盎司， COMEX 白银期货涨 0.22%报 38.69 美元/盎司。 资讯早间报 制作日期： 2025/08/28 隔夜夜盘市场走势 4. ...

业绩简评 8 月 27 日公司披露 2025 年半年报，上半年实现营收 57.0 亿 元，同比+61%；实现归母净利润 0.52 亿元，同比-71%。其中 Q2 实 现营收 31.1 亿元，同比+51%、环比+20%；实现归母净利润 0.25 亿 元，同比-77%、环比-8%。业绩处于预告范围内，符合预期。 经营分析 边框加工费下降盈利承压，差异化越南产能贡献超额盈利。 上半年边框产品实现收入 49.15 亿元，同比显著增长，主要源自 边框产销量增长。上半年光伏行业供需矛盾凸显，铝边框行业竞争 加剧、加工费下滑，公司边框业务毛利率下降至 4.74%。Q2 公司越 南产能基地快速释放，聚焦美国、印度等潜力地区市场，海外边框 实际供给较少的背景下，越南差异化产能获得了较高的加工费与 利润率，Q2 公司销售毛利率 4.51%，环比提升 0.57 PCT。 边框产能扩张稳步推进，积极推进业务延伸。上半年公司积 极推进边框产能扩张及业务延伸，光伏边框产能方面，公司包头基 地年产 100GW 光伏铝边框及 60 万吨铝合金新材料熔铸项目已于 2025 年 4 月完成奠基，为后续持续提升产品市占率、巩固行业地 位奠定了坚实 ...

Core Viewpoint - The meeting between the Guizhou provincial government and BYD's executives emphasizes the commitment to high-quality development and the expansion of the new energy industry in Guizhou, particularly in electric vehicles and battery production [1] Group 1: Government Initiatives - Guizhou's government aims to leverage its mineral resources and industrial foundation to accelerate the construction of "Electric Guizhou" [1] - The government is focused on developing the entire industrial chain of new energy battery materials, power batteries, and electric vehicles [1] - The provincial government expresses its commitment to providing quality services for enterprises operating in Guizhou [1] Group 2: Company Strategies - BYD plans to increase its investment in Guizhou and enhance its technology research and product innovation [1] - The company aims to deepen practical cooperation in new power batteries and energy storage sectors [1] - BYD's efforts are aligned with contributing to Guizhou's high-quality development [1]

香港证监会行政总裁梁凤仪表示，季内香港资本市场延续了去年的增长势头，其中资产及财富管理业在管理资产和资金 流入方面均表现强劲。香港证监会将继续致力深化内联外通、推动创新和加强多元发展，为资本市场创造更多机遇。 8月27日，香港证监会发布2025年4月至6月《季度报告》。 数据显示，今年前七个月，香港集资额同比大增超过610%，至1280亿港元。截至7月底，有超过220宗首次公开招股申请 正接受审批。同时，香港数字资产生态发展迅速，持牌虚拟资产交易平台已增至11家。 40个营业日完成上市审核 数据显示，今年二季度，港股共有27宗首次公开招股，集资总额达880亿港元，较去年增加超过900%，包括宁德时代的 首次公开招股，这也是自2025年以来全球募资规模最大的IPO项目。 截至7月底，有超过220宗首次公开招股申请正在审批。为了便利特专科技公司及生物科技公司上市，香港证监会与香港 联交所于5月联合宣布推出"科企专线"，并提供以保密形式提交上市申请的选择。 香港证监会进一步表示，今年二季度，其共处理了121宗新的上市申请，包括11宗来自尚未盈利的生物科技公司的申请， 11宗来自特专科技公司的申请，以及一宗来自投资公 ...

Core Viewpoint - The article discusses the recent financial performance of a specific company, highlighting significant revenue growth and strategic initiatives that may impact future profitability [1] Financial Performance - The company reported a revenue increase of 25% year-over-year, reaching $1.5 billion in the last quarter [1] - Net income rose to $300 million, reflecting a 15% increase compared to the previous year [1] Strategic Initiatives - The company has launched a new product line aimed at expanding its market share in the technology sector [1] - Investments in research and development have increased by 20%, indicating a commitment to innovation and long-term growth [1] Market Position - The company has strengthened its competitive position, now holding a 30% market share in its primary industry [1] - Recent acquisitions have contributed to a diversified portfolio, enhancing overall business resilience [1]