Group 1 - Xiaopeng Motors' chairman He Xiaopeng praised Lei Jun for the new SU7 Max achieving a record range of 4264 km in a 24-hour endurance challenge, highlighting the vehicle's performance capabilities [2] - Porsche reported a 10% decline in global sales for 2025, with China market sales dropping by 26.28%. The president of Porsche China attributed this to the challenging luxury car market and emphasized a strategy focused on quality over quantity [2] - The National Bureau of Statistics of China projected that by the end of 2025, the number of household cars will reach 52.9 vehicles per hundred households, an increase of 1.7 vehicles from the previous year, driven by policies promoting high-quality durable goods [2][3] Group 2 - Mitsubishi hinted at the revival of the classic SUV Pajero, which has been out of production for five years, with plans to launch a new full-size off-road SUV in 2026. The new Pajero is expected to feature a plug-in hybrid version [2][3] - The anticipated price range for the new Pajero in the Japanese market is estimated to be between 5.5 million and 7.5 million yen, approximately 243,000 to 331,000 RMB [3]

12月12日，小米汽车微博官方账号发布消息称，上午11点小米汽车"现车选购"新增准新车上架开售。消费者可在小米汽车APP选购。现车包含全新现车、官 方展车、准新车，已通过严格质检，可享快速提车、完整原厂质保和售后，部分车型可享优惠。面向所有用户开放，已锁单未交付的用户也可改配。 随着小米二期工厂实现稳定生产，产能增速显著，小米汽车开始从需要长期等待转向"现车选购"。12月2日，小米汽车方面表示，自2024年4月3日起，累计 交付量已超50万台；2025年的交付量超过年初设定的全年目标——35万台。 这也是小米公司首次向市场投放现车。12月1日，雷军曾预告称，小米汽车APP现车选购的功能即将开启，12月26日24点前锁单，预计年底前可提车。 据了解，现车包含全新现车、官方展车、准新车三种车型。其中全新现车均为原厂新车，车辆可能存在一定库龄，来源为官方识别并处理的异常订单，以及 部分用户因不可抗力无法提车的车辆；官方展车即小米汽车官方门店的静态展车(非试驾车)部分车辆可能在展陈期间产生轻微磨损，已对车辆外观、内饰等 进行了清洗整备，具体以车况确认书为准；准新车系曾因运输等原因产生维修项的原厂新车，并已完成官方修复 ...

Core Viewpoint - The Hong Kong stock market experienced significant net inflows from northbound trading, with a total net buy of HKD 42.86 billion on November 12, 2023, indicating strong investor interest in certain stocks while others faced notable sell-offs [1]. Group 1: Net Buying and Selling Activities - The top net bought stocks included Xiaomi Group-W (01810), Xpeng Motors-W (09868), and Pop Mart (09992) [1]. - The stocks with the highest net selling included Alibaba-W (09988), Hua Hong Semiconductor (01347), and SMIC (00981) [1]. - Xiaomi Group-W saw a net buy of HKD 15.91 billion, attributed to positive reports on its manufacturing capabilities [4]. - Xpeng Motors-W received a net buy of HKD 7.17 billion, with an upgraded target price reflecting growth potential from new product launches [5]. - Pop Mart (09992) had a net buy of HKD 6.3 billion, supported by optimistic growth forecasts from analysts [5]. Group 2: Individual Stock Performance - Alibaba-W faced a net sell of HKD 34.33 billion, with concerns over its advertising and investment returns amid rising CAPEX [7]. - SMIC and Hua Hong Semiconductor experienced net sells of HKD 4.27 billion and HKD 9.84 billion, respectively, with analysts adjusting their ratings based on profit forecasts [7]. - China Life (02628) and Tencent (00700) recorded net buys of HKD 3.03 billion and HKD 1.57 billion, respectively, indicating continued investor confidence in these companies [7]. Group 3: Market Context and Analyst Insights - Analysts from Goldman Sachs and Morgan Stanley provided positive outlooks for Xiaomi and Xpeng, respectively, highlighting their operational improvements and growth strategies [4][5]. - The geopolitical situation in South America and OPEC+ decisions are influencing oil prices, which may impact companies like CNOOC (00883) that saw a net buy of HKD 4.11 billion [5]. - The solar industry remains under scrutiny, with recent statements from industry associations aiming to dispel negative rumors affecting companies like GCL-Poly Energy (03800) [6].