China Automobile Dealers Association: Mainland automotive market faces intensified risk of corporate deficit operation.
According to internal media reports, Xiao Zhengsan, Chairman of the China Automobile Circulation Association, pointed out at the '2024 Industry Annual Conference' that the mainland automobile market is facing the dilemma of 'increased quantity but not increased revenue, increased revenue but not increased profit' in the first three quarters of this year. There is a clear contrast between retail sales and retail volume, exacerbating the risk of companies operating in the red. It is believed that insufficient demand has become the main issue in the current and future period of the automobile market. Xiao Zhengsan emphasized that in response to these challenges, it will assist industry enterprises in enhancing channel competitiveness through service innovation, establishing sound exit mechanisms, and driving the exchange of old for new policies through honest used car transactions to alleviate the pressure on business operations.
Major MSCI adjustment! Brokerage stocks are most favored, 20 companies are being removed.
Due to the expectations of potential bullish policies, capital is pouring into the cryptocurrency market. CoinShares Ltd. data shows that Bitcoin investment products received $1.27 billion USD (approximately RMB 9.2 billion) in inflows last week as the price of Bitcoin soared to its highest level in over a month.
Auto stocks generally fell. Geely Auto (00175) dropped by 3.58%. Trump announced victory, Chinese export companies may come under pressure.
Jingu News | Auto stocks fell across the board, with geely auto (00175) down 3.58%, leapmotor (09863) down 3.29%, nio inc (09866) down 2.98%, byd company (01211) down 2.69%, great wall motor (02333), guangzhou automobile group (02238) down 1.69%. Republican presidential candidate Trump announced early on the morning of the 6th that he had won the 2024 presidential election. The market expects that after Trump wins the U.S. presidential election, the tariff issue will once again affect Chinese export companies, and the automotive industry will be the first to bear the brunt. Earlier, Trump had stated that he would impose tariffs on
Review of the MSCI China Index, Guangzhou Auto (02238.HK) and Topsports (06110.HK) are removed.
MSCI has announced the latest review results of the MSCI Chinese Index constituents, including the addition of 4 stocks and the removal of 20 stocks. The changes will take effect after the market closes on the 25th of this month. The 4 stocks added to the index are all A shares, including First Capital Securities (603116.SH), Huqin Technology (603296.SH), Longxin Semiconductor (688047.SH), and Tianfeng Securities (601162.SH). Among the 20 stocks removed from the index are 2 H shares and 1 American Depositary Receipt, including Guangzhou Automobile (02238.HK), Topsports (06110.HK), and IQIYI (IQIYI).
Express News | MSCI China Index flagship adjustment: Favoring brokerages, removing stocks such as Anhui Kouzi Distillery.
Hong Kong stock concept tracking | The application scenarios of solid state batteries are becoming increasingly widespread, and the industrialization of the industry is accelerating comprehensively (with concept stocks)
Recently, top vehicle manufacturers at home and abroad have been continuously advancing the research and application of solid state batteries through cooperation or strategic planning. Chongqing Changan Automobile, in partnership with Taillan New Energy, will hold a solid state battery technology conference, and the industry is expected to see a new catalyst.