2025 年 8 月 26 日 港股晨报 港股回顾 点，跌幅随即扩大至 247 点，低见 23730 点，其后跌幅 一度收窄至仅 20 点，午后大盘走势偏软，尾盘沽压再 度扩大。截至收盘，恒指收报 23831 点，下跌 145 点或 0.61%；国指收报 9656 点，下跌 47 点或 0.49%，大市 成交进一步减至 827.99 亿。港股通录得净流入资金 4.84 亿，其中港股通(沪)净流入 2.83 亿，港股通(深)净 周一港股延续强势，收盘恒生指数涨 1.94%，报 25829.91 点，刷新阶段新高；恒生科技指数涨 3.14%，报 5825.09 点；恒生中国企业指数涨 1.85%，报 9248.0 点。市场成交额达 3696.98 亿 港元，较前一交易日显著放大。港股通成分股 中，东风集团股份(00489HK)大涨 54.1%，拟私有 化退市并分拆岚图汽车独立上市。 美股市场 1. 美股周一收跌。道指跌 349.27 点，跌幅为 0.77%，报 45282.47 点；纳指跌 47.24 点，跌幅 为 0.22%，报 21449.29 点；标普 500 指数跌 27.59 点，跌幅为 0.43%，报 ...

Investment Rating - The report maintains a positive outlook on the automotive industry, specifically recommending "Overweight" for the sector, indicating it is expected to outperform the overall market [2][10]. Core Insights - Great Wall Motors is focusing on the expansion of its high-profit brands, Wey and Tank, with expectations of monthly sales reaching 20,000 units for Wey following the launch of new models [3][4]. - JAC Motors is seen as having a unique position in the high-end market, with the launch of the Zun Jie S800 expected to reshape the ultra-luxury segment, supported by Huawei's marketing [4]. - The report suggests that both Great Wall Motors and JAC Motors have strong potential for profit growth and should be closely monitored for investment opportunities [3][4]. Summary by Sections Great Wall Motors - The company continues to focus on the Wey and Tank brands, with the potential for significant sales increases and profit elasticity due to new model introductions [3]. - The current low PE ratio in the Hong Kong market suggests high value and ongoing recommendation for investment [3]. JAC Motors - JAC is positioned well in the high-end market, with the Zun Jie S800 expected to outperform joint venture luxury vehicles, benefiting from Huawei's marketing [4]. - The company anticipates a reduction in losses in 2024, with new vehicle launches in collaboration with XPeng expected to improve sales significantly [4]. - The report highlights a dual logic of high-end breakthrough and profit recovery for JAC Motors, suggesting it is a key focus for investors [4].