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China Galaxy Securities: The effect of the local subsidy policy is significant, driving the revival of the domestic car market.
According to the data from the Ministry of Commerce, as of October 24th, the national automobile scrappage renewal subsidy applications totaled 1.57 million, while local automobile replacement renewal subsidy applications reached 1.26 million. The growth rate of local subsidy applications is significantly faster than the national scrappage renewal application volume, which significantly boosts domestic demand.
China Galaxy Securities: Q3 components boards achieve excess returns, passenger vehicle market continues "price war".
The price war in the Q3 passenger vehicle market continues and consumer wait-and-see sentiment affects market sales, while the commercial vehicle market is impacted by weak domestic demand, putting pressure on the performance of the automotive sector.
Loncin Motor (603766) Series Review 1: The performance in Q3 2024 meets expectations with accelerated growth of the Wuji brand.
Event Overview: The company released its third quarter report for 2024, achieving revenue of 12.22 billion yuan in the first three quarters of 2024, a year-on-year increase of +30.5%, and achieving a net income attributable to the parent company of 0.9 billion yuan, a year-on-year increase of +13.7%; single
Loncin GM: Report for the third quarter of 2024 of Longxin General Dynamics Co., Ltd.
Loncin General Dynamics Co., Ltd. Report for the Third Quarter of 2024
Loncin Motor (603766.SH): The net income for the first three quarters is approximately 0.899 billion yuan, an increase of 13.65% year-on-year.
On October 28, Geelong reported that Loncin Motor (603766.SH) announced that its revenue in the first three quarters of 2024 was approximately 12.218 billion yuan, an increase of 30.48% year-on-year; the net income attributable to the shareholders of the listed company was approximately 0.899 billion yuan, an increase of 13.65% year-on-year; and the basic earnings per share was 0.4376 yuan.
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