Car dealers Ping Sheng Yongda Auto (03669) rose by 10.64%. Institutions expect car demand to continue to rise by the end of the year.
Jingwu Financial News | Car dealers have generally increased, yongda auto (03669) rose 10.64%, meidong auto (01268) increased by 5.13%, harmony auto (03836) rose by 2.82%, zhengtongauto (01728) increased by 2.5%, zhongsheng hldg (00881) rose by 2.31%. Senior economist Xu Changming from the National Information Center stated today at the 2024 Automotive Finance Industry Summit that the wholesale sales volume of domestic passenger vehicles is expected to be 23 million units this year, an increase of 2.7% year-on-year, with terminal sales expected to reach around 23.5 million units, a year-on-year increase of 6-7%, throughout the year.
Ministry of Commerce: Plan in advance for next year's automobile trade-in policy.
Song Yingjie, a level two researcher at the Consumer Promotion Department of the Ministry of Commerce, stated that the policy of early planning to replace old cars with new ones next year will be continued, hoping to stabilize market expectations and improve related automobile policies to promote convenient trade of used cars. He mentioned that the current mainland application volume for scrapping and replacement of automobiles has exceeded 2 million, totaling over 4 million. At the same time, the daily subsidy application volume remains high, driving the year-on-year increase of over 50% in the amount of scrapped cars recycled in the first ten months of this year.
Hong Kong stock market anomaly | Zhongsheng Hldg (00881) fell nearly 3%, UBS Group pointed out that the market has given AITO stores a too high valuation.
Zhongsheng hldg (00881) fell nearly 3% , as of the time of publication, dropped by 2.27%, to HK$17.28, with a turnover of HK$38.1808 million.
Ubs Group: Maintains "Sell" rating on Zhongsheng Hldg (00881) with target price raised to 9.4 Hong Kong dollars.
ubs group expects that the revenue growth from after-sales services this year and onwards will be in the single digits.
UBS Group raises Chongqing Sokon Industry Group Stock (00881.HK) target price to 9.4 yuan, confirming strategic cooperation with Chongqing Sokon Industry Group Stock.
UBS Group released a report, indicating that china National Heavy Duty Truck Group Corporation Limited (00881.HK) and Chongqing Sokon Industry Group Stock (601127.SH) signed a strategic cooperation agreement aiming at operating Huawei AITO specialized stores under an authorized distribution model, with operations expected to start in January next year. Management has guided that AITO automobile commission rate will be 4.5%, and the company will also provide related after-sales, automobile finance, and insurance services. The report suggests that even with the contribution from AITO stores, china National Heavy Duty Truck Group Corporation Limited's profit is not expected to rebound significantly. Retail discounts of the three major German carmakers Audi, BMW, and Mercedes-Benz hit a historical high last month, leading to decreased appeal of traditional high-end brands in china, impacting the china brand.
This week's Hong Kong stocks' hot stocks | AI technology helps development! Ninebot Intelligence Investment, kingsoft cloud surged more than 20% within the week; Dongfeng Group rose over 17% strongly, officially announced domestically produced vehicle-gra
This week, the three major Hong Kong stock indices collectively adjusted. As of the close, the Hang Seng Index fell by 6.28% to close at 19426.34 points; the technology index fell by 7.29% to close at 4327.84 points; the Hang Seng China Enterprises Index fell by 6.45% to close at 6980.06 points.