CORRECTION: Shares of US-listed Chinese Stocks Are Trading Lower
Shares of US-listed Chinese Stocks Are Trading Higher After Donald Trump Was Elected President of the United States, Which Could Raise Concerns Over Potential Tariffs and US-China Tensions.
Express News | China Passenger Car Association: In October, retail sales of new energy passenger vehicles reached 1.284 million units, a 67% year-on-year increase.
U.S. stock market anomaly | Chinese new energy auto stocks plummet before market open, Trump wins election, previously mentioned significant increase in auto tariffs.
Gelonghui November 6 | Li Auto Inc fell 5%, Xpeng and Nio Inc both fell 3.6%. In terms of news, United States Republican presidential candidate Trump defeated Harris and announced victory in the 2024 presidential election. Previously, Trump had stated that he would impose tariffs on all cars sold to the United States, with tariffs as high as 100%. In addition, in response to the European Commission imposing anti-subsidy taxes on electric cars originating from China, many multinational car companies oppose the EU's sanctions on Chinese electric vehicles. (Gelonghui)
Express News | RPT-Li Auto Drops 5.1%, JD.com Down 3.6%, NIO off 4%, Xpeng Down 5%
Huaxing Securities raised the target price of Li Auto Inc (LI.US) to $28.9. The third-quarter gross margin improved significantly on a quarterly basis.
Hua Xing Securities report stated that benefiting from continued cost reduction, li auto inc (LI.US) saw a quarterly increase of 2.2 percentage points in gross margin for automobile sales in the third quarter, reaching 20.9%, while the comprehensive gross margin improved to 21.5% on a quarterly basis. li auto inc is expected to deliver 160,000 to 170,000 new automobiles in the fourth quarter, corresponding to a revenue range of 43.2 billion to 45.9 billion Chinese yuan.