In "The Big Bank", BOC International recommends investing in automobile stocks such as Xiaomi, Geely, and NIO Inc, and remains bullish on the long-term growth prospects of Li Auto Inc.
Bank of China International's research report pointed out that the overall stock prices of Hong Kong's automobile industry have still lagged behind various fundamental indicators since the beginning of the year, attributing the difference mainly to the market's pessimistic sentiment towards the macro market and the automobile industry. The bank indicated that entering the fourth quarter of this year, which is also the traditional peak season for automobiles, the overall industry valuation is expected to rebound significantly under the drive of strong product cycles and historically low valuations of contract manufacturers. The bank is bullish on Xiaomi (01810.HK), Geely (00175.HK), and Nio Inc (09866.HK), as for XPeng (02015.HK), despite the lack of short-term catalysts, it is still optimistic about its prospects.
BYD Company Limited (01211.HK) pure electric light commercial vehicle E-VALI made its first appearance at the Germany transportation exhibition.
Byd Company Limited (01211.HK) recently participated in the 2024 Hanover International Transportation and Transportation Expo in Germany, and for the first time, showcased its electric light commercial vehicle model, E-VALI, and electric yard tractor, EYT 2.0.
Cui Dongshu, Secretary General of the China Passenger Car Association: The 'Autos to the Countryside' policy needs to be strengthened rather than suppressed.
In 2024, China's auto market retail achieved the expected strong start, followed by a sharp divergence between electric vehicles and gasoline vehicles. From January to August 2024, the retail sales of electric vehicles reached 6.01 million units, showing a relatively strong trend with a 35% increase, close to the 36% growth rate in 2023.
Hong Kong stocks are moving differently, with early gains in the automotive sector. The industry's outlook is expected to improve, with limited impact from the United States' increase in tariffs on electric cars from China.
Autos stocks mostly rose in the morning, as of the press time, li auto inc-W (02015) rose by 3.97%, closing at 77.2 Hong Kong dollars; guangzhou automobile group (02238) rose by 2.69%, closing at 2.29 Hong Kong dollars; Leap Motor (09863) rose by 2.45%, closing at 23 Hong Kong dollars.
Hong Kong stock concept tracking | BYD takes full control of Tengshi Motors, institutions raise BYD's annual sales volume (with concept stocks)
Mercedes-Benz completely withdraws, Tengshi ultimately becomes a wholly-owned brand of BYD.
Cui Dongshu: There is significant pressure on the collapse of the rbob gasoline vehicle industry, and we need to increase efforts to promote the use of autos in rural areas instead of suppressing it.
In 2024, China's auto market retail achieved the expected strong start, followed by a sharp divergence between electric vehicles and gasoline vehicles. From January to August 2024, the retail sales of electric vehicles reached 6.01 million units, showing a relatively strong trend with a 35% increase, close to the 36% growth rate in 2023.