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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.
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.
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.
Hong Kong stocks movement | Xiaopeng Autos-W (09868) opened over 4% higher, winning the sales champion of new forces in the first week of the year. Flying cars will be mass-produced and delivered next year.
Xpeng Autos-W (09868) opened more than 4% higher, as of the time of writing, it has increased by 4.64%, at 49.65 Hong Kong dollars, with a transaction amount of 26.8252 million Hong Kong dollars.
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.
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The investment director at Morgan Stanley states that US stocks may face severe challenges in the next six months due to rising bond yields and the strengthening dollar raising concerns about inflation; a Wall Street bond short seller predicts that the yield on ten-year USA Bonds will rise to 5.5% by the end of the year; under the impact of high interest rates, the bankruptcy rate of American companies has reached its highest level since the financial crisis.
U.S. stocks are moving | Xiaopeng Autos rose nearly 4% in pre-market trading, ranking first in sales among new forces in the first week of 2025.
Gelonghui, January 7 | Xiaopeng Motors (XPEV.US) rose 3.74% in Pre-Market Trading, reaching $12.19. In the news, the new power brand sales ranking for the Chinese market released today by Li Auto shows that in the first week of 2025, Xiaopeng ranked first in new power brand sales in China, with weekly sales of 0.007 million vehicles, ending Li Auto's 36-week consecutive sales championship. It is reported that Xiaopeng Motors delivered 0.037 million new cars in December 2024, a year-on-year increase of 82%. In 2024, Xiaopeng Motors' cumulative deliveries reached 0.19 million vehicles, a year-on-year increase of 34.2%. (Gelonghui)
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Nvidia (NVDA.US) announced collaboration in the automobile sector with BYD (01211.HK) and Xiaomi (01810.HK) among others.
Nvidia (NVDA.US) CEO Jensen Huang announced that the company will collaborate with several automobile manufacturers, including BYD (01211.HK), Li Auto-W (02015.HK), Xiaomi-W (01810.HK), ZEEKR (ZK.US), Tesla (TSLA.US), Mercedes-Benz, and Toyota.
Market movement analysis | Xiaopeng Autos' Hong Kong stocks rose nearly 3%, and its US stocks in night trading increased nearly 4%! In the first week of the year, it claimed the sales crown among new forces, and Institutions indicate that it is expected t
Xpeng Autos shares rose in the Hong Kong stock market in the afternoon, briefly increasing by more than 3% during trading. As of the time of reporting, the shares were up 2.71% at HKD 47.45, with a transaction volume of HKD 0.763 billion.
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.
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 | The former scientist from Xiaopeng's Venture, Asia Vets company Zhifeng Square has secured hundreds of millions in financing.
China Merchants International recommends the Industry's complete vehicle/parts by first promoting Geely (00175.HK) and FUYAO GLASS (03606.HK), followed by BYD (01211.HK).
China Merchants published a report indicating that domestic Electric Vehicle companies performed strongly in December last year, with high growth expected this year, particularly during the policy vacuum period in January and February, which allows for low absorption of quality stocks. Among them, BYD (01211.HK) delivered 0.509 million Electric Vehicles last month, representing a year-on-year and month-on-month increase of 49.8% and 1.1%, respectively; with a total delivery of 4.25 million vehicles for the year, an annual increase of 41.1%. This year’s sales are estimated to be between 5 million and 5.5 million vehicles, which reflects a 23.5% year-on-year growth based on the median, with a goal to double overseas expansion. This year will focus on the iteration of pure electric platforms, and the second generation of new blade Battery technology will be released to improve charging speed and endurance.
Express News | Xiaopeng Autos has established a sales service company in Jiangmen with a registered capital of 10 million yuan.
Guolian: Maintains the "Buy" rating for XPeng Motors-W (09868), with annual deliveries increasing by 34.2% year-on-year.
Guolian expects Xpeng Motors-W (09868) to have sales of 442,000 and 652,000 units in 2025 and 2026 respectively.
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