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Significant policy for trading in old for new: up to 500 yuan subsidy for mobile phones and tablets, up to 2000 yuan for computers and Air Conditioners, and up to 0.02 million yuan for Electric Vehicles.
The National Development and Reform Commission stated that by 2025, the total scale of ultra-long special treasury bonds used to support the "two new" will significantly increase compared to last year, with specific amounts to be announced during this year's National People's Congress. Fu Jinling, Director of the Economic Construction Department of the Ministry of Finance, stated that recently, the central government has allocated 81 billion yuan for the 2025 consumer upgrade fund to support localities in smoothly implementing policy continuity.
China's two departments issued a notification on the subsidy for trading in old Automobiles for new ones, with the highest subsidy for New energy Fund and RBOB Gasoline vehicles being 0.015 million and 0.013 million yuan, respectively.
The National Development and Reform Commission and the Ministry of Finance have issued a notice on implementing policies for the large-scale update of equipment and the replacement of consumer goods in 2025, which mentions improving the subsidy standards for Automobile replacements. Individual Consumers who transfer registration of Passenger Vehicles in their name and purchase new Passenger Vehicles will receive Automobile replacement subsidies, with the highest subsidy amount for New energy Fund and RBOB Gasoline Passenger Vehicles being 0.015 million and 0.013 million yuan respectively. The notice also specifies that the existing Passenger Vehicles of Consumers applying for subsidies must be registered in their name no later than the date the notice is published. The implementation details of the Automobile replacement subsidies will be reasonably formulated by local areas according to the notice's requirements and actual conditions.
The National Development and Reform Commission: Eligible National IV emission standard RBOB Gasoline vehicles will be included in the scrapping and renewal subsidy.
Zhao Chenxing, Deputy Director of the National Development and Reform Commission, stated at the regular press conference on State Council policies that this year, eligible RBOB Gasoline vehicles adhering to the National IV emission standards (which include RBOB Gasoline vehicles that were registered before June 30, 2012, as well as diesel and other fuel vehicles registered before June 30, 2014) will be included in the scrap and upgrade subsidy program, and the maximum subsidy limits for automobile replacement across the country will be standardized. Zhao revealed that over 6.5 million vehicles will be scrapped and replaced nationwide in 2024, and the market penetration rate of New energy Fund passenger vehicles has exceeded 50% for seven consecutive months starting from June. The annual retail sales of New energy Fund passenger vehicles in the domestic market.
Express News | The National Development and Reform Commission: The annual domestic retail volume of Electric Vehicles reaches 11 million units.
NIO (09866) fell by 7.01% as HSBC lowered its Target Price by 37.46%, citing a decline in electric vehicle demand due to seasonal factors since the beginning of the year.
Jingu Financial News | NIO (09866) stock price weakened, as of the time of writing, down 7.01% to HKD 33.85, with a transaction volume of HKD 97.83 million. In terms of news, HSBC Research stated that with the advancement of electric vehicles in mainland China, the overall trend remains clear. However, the bank became more cautious at the beginning of this year, mainly due to lower winter demand and rising pressure on prices and sales. Demand and price trends for the first quarter may decline quarter-on-quarter due to seasonal factors, and some sales may occur in advance in the fourth quarter of 2024 due to uncertainty surrounding the government's 2025 trade-in subsidy scale.
Hong Kong stock morning report on January 8: The Ministry of Industry and Information Technology is conducting a trial for 10G optical networks; Mixue Ice City has obtained registration from the China Securities Regulatory Commission for its Hong Kong IPO
① The State Council: Venture Capital Funds should focus on developing new quality productive forces. ② Ministry of Industry and Information Technology: Launching pilot projects for 10-gigabit optical networks. ③ Apple's spring "budget version" iPhone new model will start mass production in mid-January 2025. ④ Mi Xue Bing Cheng's Hong Kong IPO has been filed with the China Securities Regulatory Commission.
NIO Inc Options Spot-On: On January 7th, 127.31K Contracts Were Traded, With 3.42 Million Open Interest
On January 7th ET, $NIO Inc(NIO.US)$ had active options trading, with a total trading volume of 127.31K options for the day, of which put options accounted for 30.9% of the total transactions, and
Express News | Sales rankings for the first week of 2025: Sales for seven major brands, including BYD, have halved, while Xpeng surpasses Li Auto to claim the championship.
HSBC Downgrades NIO to Hold From Buy, Adjusts Price Target to $4.50 From $7.20
Cui Dongshu: In November, the retail sales of Electric Vehicles increased nearly 50% year-on-year, with strong growth momentum continuing.
In 2024, there will be intense changes in the domestic New energy Fund landscape, with the leading effects of traditional car manufacturers such as BYD, Geely, and Chery becoming increasingly evident, while the lower to mid-range segments remain relatively strong.
China EV Insurance Registrations by Brand for Week Ending Jan 5: Nio 3,000, Tesla 5,500, BYD 36,500
The 7th batch list of exempt vehicle purchase tax for Electric Vehicles in 2024 has been announced. Cui Dongshu: Products with high energy density in Battery are relatively abundant.
In 2024, there are a total of 20,085 models of Electric Vehicles in the tax exemption directory. Due to the large number in the first batch, the quantity of Electric Vehicles in the directory is relatively higher than the normal levels in recent years.
Express News | According to the China Association of Automobile Manufacturers, 139 models from 9 companies including Chongqing Changan, SAIC, and BYD meet the four compliance requirements for Autos data security.
HSBC Research downgraded Chang'an Automobile (02333.HK) and Zhongsheng (00881.HK) to "Shareholding" and NIO (09866.HK) to "Hold."
According to a report by HSBC Research, with the advancement of electric vehicles in Mainland China, the overall trend remains clear. However, the bank's attitude turned more cautious at the beginning of this year, mainly due to lower winter demand and increased pressure on prices and sales. The demand and price trends in the first quarter of this year may decline quarter-on-quarter due to seasonal factors, while some sales may occur earlier in the fourth quarter of 2024 because the scale of the government's trade-in subsidy for 2025 is unclear. The bank downgraded the ratings of Chang'an Automobile (02333.HK) and Zhongsheng (00881.HK) from "Hold" to "Shareholding," with target prices lowered from 10.8 yuan to 8.8 yuan.
According to the China Automotive Industry Association, the value of automobile exports fell by 7.8% year-on-year in November last year.
The China Automotive Industry Association has released the latest data showing that in November 2024, the total export volume of automobiles reached 0.549 million units, a monthly decrease of 6.2% and an annual increase of 4.8%. The export value was 90.7 billion USD, a monthly decrease of 15.1% and an annual decrease of 7.8%. Despite the export volume maintaining year-on-year growth, the export value has experienced a "double decline," indicating a downward trend in export prices. In the first eleven months of last year, the cumulative export volume of complete automobiles from the mainland reached 5.834 million units, an annual increase of 22.5%; the cumulative export value reached 107.37 billion USD, an annual increase of 15.8%. From the segmented market.
Futu Morning News | The Technology grand event CES is here today! Huang Renxun's keynote speech has generated market expectations; Tencent and Contemporary Amperex Technology responded to being included in the USA Department of Defense list: it is a mista
Signals of Trump 2.0 removing regulations? The Vice Chairman in charge of financial regulation at the Federal Reserve will resign early after Trump's rise to power; Bitcoin returns to $100,000, and stocks related to Cryptos soar across the board; FuboTV's stock price skyrockets over 251%! It will collaborate with Disney to merge live television streaming services.
According to the China Association of Automobile Manufacturers, the total import and export value of Autos commodities in November 2024 is 24.67 billion USD, a decrease of 5.5% year-on-year.
According to the data compiled by the China Association of Automobile Manufacturers from the General Administration of Customs, in November 2024, the total import and export value of Autos commodities was 24.67 billion USD, a month-on-month decrease of 2% and a year-on-year decrease of 5.5%.
Express News | HSBC has downgraded NIO Inc.'s ADR rating to Hold, with a Target Price of $4.50.
NIO Inc Options Spot-On: On January 6th, 239.46K Contracts Were Traded, With 3.42 Million Open Interest
On January 6th ET, $NIO Inc(NIO.US)$ had active options trading, with a total trading volume of 239.46K options for the day, of which put options accounted for 28.63% of the total transactions, and
After the USD dropped over 1%, it rebounded, and Trump denied the report of "tariff reduction."
Reports indicate that a tariff plan studied by Trump’s aides will target all countries but only cover key imported commodities, yet Trump denied on Social Media that the tariff policy would be reduced.