Jinwu Financial News | Auto stocks rose in part. Brilliance China (01114) rose 29.63%, Great Wall Motor (02333) rose 5.06%, BAIC Motor (01958) rose 3.74%, BYD shares (01211) rose 2.08%, and Evergrande (00708) and Geely Auto (00175) rose more than 1%.
Guohai Securities Research Report points out that the trend of changes in automobiles in the medium term will not change and will drive the medium- to long-term growth of automobile quality standards. With electrification, there is still room for improvement in domestic energy penetration; intelligent, advanced intelligent driving is expected to enter the release cycle in 2024; high-end, independent brand structure upgrades, and product price coverage will move upward; with globalization, domestic automakers have entered a period of overseas expansion, and overseas bases for domestic high-quality components will gradually enter the harvest period in 2024. Technological changes, structural upgrades, and overseas expansion in the automotive industry are still undergoing rapid changes. From a medium- to long-term perspective, high-quality automobile companies are expected to continue to grow upward in the new round of industrial transformation.