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Hong Kong stocks are moving differently | Autos stocks fell sharply in the morning, with the combination of intelligent driving equity and price wars further intensifying the trend of market differentiation.
Auto stocks fell sharply in the early session. As of the time of writing, Peking Automotive (01958) dropped 12.4% to 2.26 Hong Kong dollars; Guangzhou Automobile Group (02238) fell 4.48% to 3.2 Hong Kong dollars; Xiaopeng Motors-W (09868) decreased by 4.22% to 85.15 Hong Kong dollars; Great Wall Motor (02333) declined by 4.06% to 15.6 Hong Kong dollars; Ideal Automotive-W (02015) dropped 3.1% to 103 Hong Kong dollars.
Peking Autos (01958.HK) expects a net profit attributable to the parent company of 0.95 billion yuan in 2024.
Guangdong Securities reported on March 20 that Peking Automotive (01958.HK) announced that the company expects to record a net income attributable to equity holders for the year ending December 31, 2024, of approximately 0.95 billion yuan, a decrease of about 68.6% compared to the same period in 2023. The company believes that this change is mainly due to intensified competition in the domestic Passenger Vehicle industry in 2024, which has affected the company's auto sales. At the same time, in order to enhance competitiveness, there has been an increase in investment through business policies, resulting in a comprehensive decrease in net income attributable to equity holders compared to last year.
Express News | BAIC Motor Corp Ltd - Profit Decrease Due to Heightened Competition and Increased Investment in Year
Express News | BAIC Motor Corp Ltd - Expected Net Profit of RMB950 Million for 2024
BAIC MOTOR: PROFIT WARNING
China's Autos Circulation Association: From March 10 to 16, the daily average Trade volume of used cars was 0.0661 million units, a decrease of 0.96% month-on-month and a growth of 5% year-on-year.
On March 20, the China Automobile Dealers Association released the weekly report on used car sales.
Analysts Just Shaved Their BAIC Motor Corporation Limited (HKG:1958) Forecasts Dramatically
