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Changes in Hong Kong stocks | Auto stocks pick up in early trading, NIO - SW (09866) rises more than 6%, Beijing Auto Show is about to open
The Zhitong Finance App learned that auto stocks picked up in early trading. As of press release, NIO - SW (09866) rose 5.9% to HK$31.4; Xiaopeng Motor-W (09868) rose 2.64% to HK$27.2; and Zero Sports (09863) rose 1.64% to HK$21.65. According to news, the Beijing Auto Show will open on April 25. It is estimated that about 140 models will be exhibited at this auto show, and more than half to 85 new models. Independent brands will account for more than 65% of the models on display. Among them, Xiaopeng Motor is expected to launch a new brand. This product is positioned at the 10-150,000 level
China's NEV Retail at 260,000 in Apr 1-14, up 2% From Same Period Last Month
China's retail penetration of NEVs was 50.39 percent in April 1-14, and 38 percent year-to-date.
Changes in Hong Kong stocks | Some auto stocks rebounded, and Zero Sports (09863) rose more than 3%, favorable policies may drive the release of demand for car purchases
Some auto stocks rebounded. As of press release, Zero Sports Auto (09863) rose 3.02% to HK$23.9; Ideal Automobile-W (02015) rose 2.44% to HK$113.2; and Xiaopeng Motor-W (09868) rose 2.35% to HK$28.3.
[Broker Focus] Western Securities's first bid for Zero Sports Auto (09863) “buy” rating indicates that overseas exports are expected to exceed expectations
Jinwu Financial News | According to the Western Securities Research Report, the market believes that the cost-effective advantage of Zero Sports Auto (09863) is difficult to maintain under fierce competition, and expectations for overseas exports are low. The bank believes that the company's core executive team is stable and has a strategic vision and execution ability. The company has high capital utilization efficiency, strong control over core components, can continue to operate in the fierce competition in the long run, and overseas exports are expected to exceed expectations. The bank expects the company's revenue to be 37.622 billion yuan, 62.4 billion yuan, and 74.250 billion yuan respectively in 2024-2026, up 125% and 6
Auto stocks are under pressure across the board, Nio (09866) falls 10.38%, Tesla plans to lay off 10% of global employees, and the car market price war is still intense in April
Auto stocks were under pressure across the board. NIO (09866) fell 10.38%, BAIC (01958) fell 4.82%, Ideal Auto (02015) fell 4.82%, Zero Sports (09863) fell 4.68%, Xiaopeng (02333) fell 4%, Evergrande (00708) fell 3.93%, and Brilliance China (01114) fell 3.67%.
China Automobile Association: Commercial vehicle production and sales completed 437,000 units and 458,000 units respectively in March, up 88.1% and 82.8%, respectively.
From January to March 2024, commercial vehicle production and sales completed 997,000 units and 1.033 million units, respectively, up 5.1% and 10.1% year-on-year, respectively.
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