Auto parts stocks generally rose in early trading. As of press release, BOE Precision (00710) rose 5.8% to HK$5.29; Nexteer (01316) rose 4.31% to HK$4.11; Zhejiang Shibao (01057) rose 2.87% to HK$2.15; and Minshi Group (00425) rose 0.75% to HK$13.42.
The Zhitong Finance App learned that auto parts stocks generally rose in early trading. As of press release, BOE Precision (00710) rose 5.8% to HK$5.29; Nexteer (01316) rose 4.31% to HK$4.11; Zhejiang Shibao (01057) rose 2.87% to HK$2.15; and Minshi Group (00425) rose 0.75% to HK$13.42.
According to the news, Tesla CEO Musk visited China to discuss the launch of fully automated driving (FSD) software and seek approval for data transfer. FSD's entry into China is seen as an extreme test for the development of smart electric vehicles in China, and is expected to activate the smart driving industry chain. Furthermore, on April 28, the China Association of Automobile Manufacturers and the National Computer Network Emergency Technical Handling Coordination Center issued the “Notice Concerning the Inspection Status of the Four Safety Requirements for Automobile Data Processing”. All models produced by Tesla's Shanghai Gigafactory met compliance requirements, making it the only foreign-funded car company that met the compliance requirements. Passing the national authoritative data security inspection this time has laid a certain foundation for Tesla to push FSD into the Chinese market.
CITIC Securities said earlier that if Tesla's “ultimate cost-effective hardware+high-margin FSD software” model is implemented on a large scale in China, it may be similar to the “ChatGPT moment” for smart cars; whether at the level of incremental demand or business models, it means new possibilities for current domestic car companies and supply chains.