1216 ｜Dolphin Research Focus:

🐬 Macro/Industry

1、The U.S. Bureau of Labor Statistics will release the highly anticipated combined Oct–Nov nonfarm payrolls report on Tue. Institutions expect Oct NFP to decline by ~10k and Nov to add 50k–130k, with the unemployment rate rising to 4.4%–4.5%. Government employment was likely dragged by deferred separations plans, weighing on the Oct–Nov readings.

🐬 Single Stocks

1、$Alibaba(BABA.US)

Alibaba unveiled the Wanxiang 2.6 series, the first domestic video model supporting role-play, also featuring A/V sync, multi-shot generation, and audio-driven capabilities. It can produce videos up to 15 seconds and improves aesthetics control and detail for text-to-image and image generation.The model fills a gap in role-play for video models in China, enabling consumers to create film-grade content while giving enterprises efficient tools, advancing AI visual creation toward commercialization and professionalization. It also reinforces Alibaba’s tech edge in domestic generative AI.

2、$BYD COMPANY(01211.HK)

At BYD’s Ocean Day user gala marking the Ocean line’s 4th anniversary, the company teased the Seal 08 (full-size flagship sedan) and Sea Lion 08 (full-size flagship SUV). Developed from the Ocean S concept, both are slated to debut in Q1 2026, featuring the latest battery tech, AD systems, and cabin solutions.Ocean Network cumulative sales have topped 6 mn over four years, with four million-plus IP models including Song PLUS. These two flagships are key to Ocean Network’s push upmarket, rounding out a tiered portfolio alongside existing models.

3、$XPENG-W(09868.HK)

XPeng obtained Guangzhou’s L3 autonomous driving road-test license, enabling routine testing on the city’s intelligent connected high-speed corridors, focusing on highway cruise and lane-keeping. Earlier, XPeng released its second-gen VLA software with L4 capabilities.It plans to start mass production integration in Q1 2026 and launch L4-grade hardware-software production models within the year.

🐬 Top Gainers

A-shares: Trading & payment services, real estate services, and food retailers led. These sectors outperformed.

HK: Security & alarm services, industrial gases, and road freight outperformed. These groups led the market.

U.S.: Automakers, hotels/resorts & cruises, and tires & rubber outperformed. These sectors led gains.

🐬 Watchlist for Tomorrow

1、None for now. No scheduled items.

Risk disclosure and disclaimer: Dolphin Research Disclaimer & General Disclosure