Kingkey Financial News: Auto stocks collectively rose, with Geely Auto (00175) up 6.62%, Leapmotor (09863) up 6.01%, Xpeng (09868) up 5.98%, BYD Company (01211) up 4.82%, Great Wall Motor (02333) up 4.68%, Nio Inc (09866) up 4.51%, Li Auto Inc (02015) up 2.79%.
According to preliminary monthly data, the China Passenger Car Association estimates that the wholesale sales volume of new energy passenger vehicles of manufacturers in September nationwide is 1.228 million vehicles, with a year-on-year increase of 48% and a month-on-month increase of 17%.
Sinolink Securities stated that auto stocks have shown outstanding performance in the bull market due to their triple attributes of "manufacturing-consumer-technology". ① Manufacturing attribute: As the core industry of China's manufacturing sector, the auto industry's share in the national economy is continuously increasing, and it is expected to become a key area for sustained support in future fiscal policy counter-cyclical adjustments. ② Consumer attribute: Autos, as a major consumer product, are significantly affected by economic cycle fluctuations. During economic recovery periods, the warming of consumer demand often directly drives sales growth, thereby improving corporate profits. ③ Technology attribute: Technological innovation provides new growth momentum for the industry, especially with the rapid development of new energy vehicles and smart connected technologies, continuously creating and stimulating new consumer demand, while likely opening up new profit growth models for auto companies. In summary, we believe that the triple attributes of "manufacturing-consumer-technology" in the auto industry will provide auto stocks with resilience and risk resistance that allows for both offense and defense.
