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Cui Dongshu: In November, the retail sales of Electric Vehicles increased nearly 50% year-on-year, with strong growth momentum continuing.
In 2024, there will be intense changes in the domestic New energy Fund landscape, with the leading effects of traditional car manufacturers such as BYD, Geely, and Chery becoming increasingly evident, while the lower to mid-range segments remain relatively strong.
The 7th batch list of exempt vehicle purchase tax for Electric Vehicles in 2024 has been announced. Cui Dongshu: Products with high energy density in Battery are relatively abundant.
In 2024, there are a total of 20,085 models of Electric Vehicles in the tax exemption directory. Due to the large number in the first batch, the quantity of Electric Vehicles in the directory is relatively higher than the normal levels in recent years.
Geely Autos (00175) issued 0.03 million ordinary shares due to the exercise of stock options.
Geely Autos (00175) announced that on January 7, 2025, group employees will exercise their options under the share option plan (on 2...
Express News | According to the China Association of Automobile Manufacturers, 139 models from 9 companies including Chongqing Changan, SAIC, and BYD meet the four compliance requirements for Autos data security.
China Merchants International recommends the Industry's complete vehicle/parts by first promoting Geely (00175.HK) and FUYAO GLASS (03606.HK), followed by BYD (01211.HK).
China Merchants published a report indicating that domestic Electric Vehicle companies performed strongly in December last year, with high growth expected this year, particularly during the policy vacuum period in January and February, which allows for low absorption of quality stocks. Among them, BYD (01211.HK) delivered 0.509 million Electric Vehicles last month, representing a year-on-year and month-on-month increase of 49.8% and 1.1%, respectively; with a total delivery of 4.25 million vehicles for the year, an annual increase of 41.1%. This year’s sales are estimated to be between 5 million and 5.5 million vehicles, which reflects a 23.5% year-on-year growth based on the median, with a goal to double overseas expansion. This year will focus on the iteration of pure electric platforms, and the second generation of new blade Battery technology will be released to improve charging speed and endurance.
HSBC Research downgraded Chang'an Automobile (02333.HK) and Zhongsheng (00881.HK) to "Shareholding" and NIO (09866.HK) to "Hold."
According to a report by HSBC Research, with the advancement of electric vehicles in Mainland China, the overall trend remains clear. However, the bank's attitude turned more cautious at the beginning of this year, mainly due to lower winter demand and increased pressure on prices and sales. The demand and price trends in the first quarter of this year may decline quarter-on-quarter due to seasonal factors, while some sales may occur earlier in the fourth quarter of 2024 because the scale of the government's trade-in subsidy for 2025 is unclear. The bank downgraded the ratings of Chang'an Automobile (02333.HK) and Zhongsheng (00881.HK) from "Hold" to "Shareholding," with target prices lowered from 10.8 yuan to 8.8 yuan.
