On November 17th, three automakers listed on the Hong Kong Stock Exchange—XPeng, Leapmotor, and Geely—unveiled their third-quarter financial results. Notably, XPeng reported a substantial reduction in losses, with a net loss of 380 million yuan for the quarter, marking a year-on-year decrease of 1.43 billion yuan. Furthermore, its comprehensive gross profit margin surpassed 20% for the first time. Meanwhile, Leapmotor sustained its quarterly profitability streak, posting a net profit of 150 million yuan and delivering over 170,000 new vehicles. Geely also witnessed a notable improvement in profitability, recording revenue of 89.2 billion yuan, a 27% year-on-year increase, and a core net profit attributable to shareholders of 3.96 billion yuan, up 19% from the previous year. Geely's CEO, Gui Shengyue, emphasized that profitability will be the linchpin of automotive industry competition in the upcoming year, asserting that companies lacking robust profitability will face difficulties in sustaining their operations. Addressing concerns about the phasing out of purchase tax incentives for new energy vehicles next year, all three automakers expressed confidence in their ability to navigate the changes calmly. They remain upbeat about the market outlook and have outlined plans to expedite their expansion into overseas markets.