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For the first time in four years, apple has dropped out of the top five in China!
In the second quarter, domestic brands accounted for the top five sales of smart phones in China, with Xiaomi replacing Apple as the fifth in sales. Apple's market share in China is 14%, a 2 percentage point decrease from the same period last year.
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Cui Dongshu: In the first half of the year, imports of autos decreased by 4% year-on-year to 0.332 million units.
Cui Dongshu, Secretary-General of the China Association of Automobile Manufacturers, stated that the import volume of cars to China has continued to decrease at an average annual rate of about 8% since 2017, with only 0.8 million units expected to be imported by 2023.
Top 20 U.S. stock trading volume on July 25th: Ford dropped sharply by 18.4%, averaging a loss of 0.3 million per electric vehicle.
On Thursday, Nvidia, the top trading company in the US, fell by 1.72%, marking its third consecutive day of decline with a turnover of 51.53 billion US dollars. Nvidia's partner SMC is reportedly raising 0.95 billion US dollars to stimulate business development with the help of AI server trends. Tesla, ranked second, rose 1.97% with a turnover of 22.201 billion US dollars. UBS Group believes that the profit return of Tesla's AI project is still far away, but the market has given it overly high expectations for its development potential, leading to its stock price far above its reasonable valuation. The bank reaffirmed its "sell" rating on Tesla. Tesla CEO Musk said on Tuesday that Tesla's value lies mainly in its autonomous driving.
Xiaomi's Autos Phase 2 factory is here.
Land acquisition completed.
Canalys: In the second quarter, the shipment volume of smart phones in mainland China returned to the level of 70 million units, with a year-on-year growth of 10%.
In the second quarter of 2024, the smart phone market in mainland China further rebounded after experiencing a turning point in the previous quarter, with a year-on-year growth rate of 10% in shipments, returning to the level of 70 million units.
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Xiaomi Group-W (01810.HK) will hold a board of directors meeting on August 21 to approve mid-year performance.
On July 23, GlobeNewswire announced that Xiaomi Group-W (01810.HK) will hold a board of directors meeting on August 21, 2024 to consider and approve the unaudited comprehensive mid-term performance of the company and its subsidiaries for the six months ending June 30, 2024, and to consider the distribution of mid-term dividends (if any).
DATE OF BOARD MEETING
Guoyuan International: Rated Xiaomi Group-W as 'buy' with a target price of HKD 21.1.
Guoyuan International has released a research report stating that it has rated Xiaomi-W (01810) as a "buy" and is optimistic about the company's medium to long-term growth, with a target price of HKD 21.1. The bank believes that the company's automotive business, with the assistance of existing consumer electronics, AIoT, and internet plus-related businesses, is expected to achieve healthy and rapid development, and has a high probability of ultimately becoming a top player in the industry. In this process, the company's huge investment in the automotive business is expected to be quickly translated into earnings, and net income has significant upward elasticity. The main points of the report are as follows: Global mobile phone industry: demand has gradually bottomed out, and AI end-side applications are expected to drive industry recovery globally.
Forbes has released the "2024 China's Best CEO" list, and Miniso's Ye Guofu has been listed for the first time.
On the afternoon of July 22, Forbes China announced the list of "Best CEO in China 2024," with the founder and board chairman and CEO of Miniso, Ye Guofu, ranking on the list alongside outstanding entrepreneurs such as Lei Jun, founder of Xiaomi, Wang Chuanfu, founder of BYD, and Zhong Shanshan, founder of Nongfu Spring. According to the list, multinational operation capability has become an important indicator for measuring the performance of Chinese CEOs. With his unique innovative management concepts and precise insight into market trends, Ye Guofu has led Miniso to achieve remarkable results on the global stage.
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Statistics of capital trend for China-Hong Kong Stock Connect (T+2) on July 23
Capital trend of China Connect stocks on July 23
The central bank unexpectedly lowered the policy interest rate, stimulating the Hong Kong stock market to stop falling from its low point.
Last week, the Hang Seng Index fell a total of 875 points or 4.8%, reaching the lowest level in nearly three months since April 26; the Hang Seng Tech Index plummeted by 6.5%, dragging down the entire market. However, China's 1-year and 5-year LPRs were lowered by 10 basis points in July, driving a rebound in Hong Kong stocks today, climbing 181 points in the morning. The Hang Seng Index rose 142 points or 0.9% to 17,560 points in the half-day period; the National Index rose 61 points or 1% to 6,226 points; and the Hang Seng Tech Index rose 59 points or 1.7% to 3,596 points. The total turnover of the market in the half-day period was HKD 53.671 billion, and the net inflow of Shanghai and Shenzhen-Hong Kong stocks in the southbound trading was 2.
[Brokerage Focus] China Merchants maintains its "shareholding" rating for Xiaomi Group (01810) and bullish on the company's medium to long-term market cap growth potential.
China Merchants' research report stated that on July 19th, Lei Jun, CEO of Xiaomi Group (01810), held his fifth annual speech, sharing the story behind Xiaomi's entry into the auto industry, and releasing a series of new products in the second half of the presentation including foldable and regular smartphones, smart band, smartwatch, air conditioner, air purifier, etc. Additionally, Xiaomi also displayed the prototype of the upcoming Xiaomi SU7 Ultra electric sports car and announced its plan to officially challenge the Nurburgring North Loop Circuit in October this year. As a consumer electronic and intelligent manufacturing company integrating smart phones, smart hardware, IoT platform and automobile business, Xiaomi is steadily promoting its global strategy and high-end development.
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