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Hong Kong stocks are moving | Car dealers are rising sharply, grand baoxin (01293) is currently up nearly 85%. Luxury car dealers are collectively transforming into new energy fund.
Auto retailers experienced significant gains; as of the time of this report, grand baoxin (01293) rose by 84.78%, priced at 0.255 HKD; meidong auto (01268) increased by 10.22%, priced at 2.48 HKD; yongda auto (03669) climbed by 5%, priced at 2.31 HKD; zhongsheng hldg (00881) grew by 1.86%, priced at 17.5 HKD.
meidong auto (01268.HK) has had its shareholding reduced by 3.684 million shares by FIDELITY FUNDS.
On December 3, Gelonghui reported that according to the latest equity disclosure data from the Hong Kong Stock Exchange, on November 27, 2024, meidong auto (01268.HK) had 3.684 million shares sold by FIDELITY FUNDS in the market at an average price of HKD 2.3152 per share, involving approximately HKD 8.5292 million. After the shareholding reduction, the latest number of shares held by FIDELITY FUNDS is 94.14 million shares, and the shareholding ratio decreased from 7.27% to 6.99%.
HK stocks fluctuate | Car dealers/auto retailers see larger afternoon decline, industry experiences widespread losses, UBS Group points out that the market has overvalued the Zhongsheng AITO stores.
The car dealers expanded their declines in the afternoon. As of the time of publication, meidong auto (01268) dropped 6.11% to 2.15 HKD; zhongsheng hldg (00881) fell 3.74% to 15.96 HKD; yongda auto (03669) decreased by 1.55% to 1.9 HKD.
Auto retailers Pusu Yongda Auto (03669) rose by 10.64%, with institutions expecting sustained increase in year-end car purchase demand.
Jinwu Financial News | Car dealers/auto retailers generally rise, yongda auto (03669) increases by 10.64%, meidong auto (01268) rises by 5.13%, harmony auto (03836) rises by 2.82%, zhengtongauto (01728) rises by 2.5%, zhongsheng hldg (00881) increases by 2.31%. Senior economist Xu Changming from the National Information Center stated today at the 2024 Automotive Finance Industry Summit that the domestic wholesale sales volume of passenger vehicles is expected to be 23 million units for the whole year, a year-on-year increase of 2.7%, and terminal sales are expected to reach about 23.5 million units, a year-on-year increase of 6-7%, for the entire year new.
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