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Express News | China's Baidu-Backed Ji Yue Auto: It Is Coordinating Various Resources to Address Challenges, Actively Advancing Fundraising Efforts
China Auto Body Seeks Subsidy Extension as EV Exports Take Hit
[Brokerage Focus] Guoyuan International expects domestic Autos demand to remain stable next year, with independent brands' market share continuing to rise.
Jinwu Financial News | Guoyuan International has released the investment strategy for the Autos Industry in 2025. In terms of complete vehicles, it is expected that domestic Autos demand will remain stable overall next year, with independent brands continuing to gain market share. However, the intensity of market competition is expected to remain fierce, with price pressures continuing to impact the entire supply chain system. The competitive advantage of China's Autos Industry is generally strengthening, and if there are no significant changes in the international trade environment, the trend of export growth is likely to continue. The bank recommends industry leader BYD Company Limited (01211) (already covered): the company has a vertically integrated advantage in electric vehicle development and is vigorously advancing.
Aim for 30 million vehicles for the whole year, with RBOB Gasoline vehicles experiencing a "four consecutive months increase". The China Association of Automobile Manufacturers calls for early implementation of consumer promotion policies next year.
1. The domestic sales of traditional fuel Passenger Vehicles reached 1.21 million units, a decrease of 0.105 million units compared to the same period last year, with a month-on-month growth of 16.2% and a year-on-year decline of 8%. 2. Chen Shihua, deputy secretary-general of the China Automobile Industry Association, urged that relevant policies to promote Consumer spending on Autos continue next year and be implemented as soon as possible.
Express News | Farizon: Jameel Motors to Launch Geely Farizon Sv Electric Van in the UK; Sv Large Sales to Commence During H1 2025
Everbright: The impact of the vehicle trade-in subsidy for the entire year is far better than expected. Bullish on investment opportunities in the Autos Sector driven by policy support.
The Politburo meeting has prioritized loose policies and boosting consumer activity, which are highly relevant to the Autos industry.
[Brokerage Focus] Caitong maintains a 'Shareholding' rating for Geely Autos (00175) as its subsidiaries, Galaxy and ZEEKR, experience significant sales growth.
Jinwu Financial News｜Caitong issued a research report indicating that Geely Autos (00175) announced its sales situation for November 2024 on December 1. November sales were 0.19 million vehicles, a year-on-year increase of 24%. November new energy sales were 0.122 million vehicles, a year-on-year increase of 93.9%, among which November BEV sales were 0.091 million vehicles, up by 173.2% year-on-year, and PHEV sales for November were 0.031 million vehicles, an increase of 4.8% year-on-year. November exports reached 0.033 million vehicles, a year-on-year increase of 13.0%. The institution continued to point out that by brand, Geely brand had November sales of 0.19 million vehicles, approximately a 24% year-on-year increase; among which the Galaxy series...
Jibang Consulting: In the third quarter, the total installed capacity of global electric vehicle traction power inverters reached 6.87 million units, an increase of 7% compared to the previous quarter.
In the third quarter of 2024, the total installed capacity of global electric vehicle traction power inverters reached 6.87 million units, which is a 7% increase compared to the previous quarter, but the growth rate has declined compared to the same period last year.
Huachuang Securities: In November, autos continued to be hot sellers, bullish on the sales growth of new energy fund in 2024 and 2025.
In August 2024, the overall demand before the subsidy increase did not meet expectations, and the base is not high. Looking at 2025 from a macro perspective, domestic demand is expected to improve, electric vehicles may continue to benefit, and it is expected that in 2025, the wholesale volume of new energy passenger vehicles will reach 15.28 million units, increasing by 26%, with a penetration rate of 53%, which is an increase of 7.1 percentage points.
Hong Kong stocks move | Auto stocks generally rise, with new energy passenger vehicle sales in November increasing by over 50%. A "tail end market" is expected in the auto market by the end of the year.
Auto stocks generally rose. As of the time of writing, Geely Auto (00175) increased by 4.54%, trading at HKD 16.12; NIO-SW (09866) rose 3.8%, trading at HKD 39.6; BYD Company (01211) increased by 2.92%, trading at HKD 281.8.
Geely Autos (00175.HK): Completed the redemption of 0.5 billion USD preferred perpetual capital securities and delisted.
On December 9, 2023, Geelong Hu announced that Geely Autos (00175.HK) has exercised its selective redemption right according to the terms and conditions of the securities under condition 6(b), and will redeem all issued securities with a total principal amount of 0.5 billion USD on December 9, 2024. According to the conditions, the redemption price is equivalent to 100% of 0.5 billion USD, plus any distributions accrued up to the redemption date (excluding that day) (including any unpaid distribution amounts and any additional distribution amounts). The company has paid the redemption price to the security holders on the redemption date, and the security distributions have ceased from the redemption date onward.
Express News | Geely Automobile - Completion of Redemption of US$500 Mln Senior Perpetual Capital Securities and Withdrawal of Listing
The momentum for trade-ins is strong! In November, china's sales of new energy fund vehicles increased by 50% year-on-year, setting a new record, while exports fell by 6.3%.
In November, the Passenger Vehicle market achieved historic highs in retail, wholesale, production, and exports, with explosive growth in Electric Vehicles. The Passenger Car Association noted that the majority of scrappage replacements and some trade-in customers chose to purchase Electric Vehicles. Subsidy policies, particularly those promoting entry-level pure electric vehicles and the narrow plug-in hybrid market, strongly boosted growth and further solidified the expansion foundation for Electric Vehicles penetration.
In November, the electric vehicle market experienced explosive growth, with nearly 80% of A/H share listed car companies seeing their sales increase year-on-year, and many setting new records.
① In November, retail sales of new energy passenger vehicles reached 1.268 million units, a year-on-year increase of 50.5% and a month-on-month growth of 5.9%, with the domestic retail penetration rate of electric vehicles reaching 52.3%; ② In November, the explosive growth of new energy vehicles reflects the market's positive feedback on the national scrapping and updating program and the "double new policy" of replacing old with new; ③ Twelve auto manufacturers achieved a year-on-year increase in sales in the new energy market in November.
China NEV Retail Hits New Record High in Nov, While Penetration Declines Further
Worried about Trump's policies, South Korean electric car battery manufacturers are reconsidering their investment plans in the United States.
Informed sources reveal that some south korean companies have slowed down or suspended some ongoing factory constructions due to concerns over a decrease in demand for electric autos and the policies that Trump is expected to implement.
[Brokerage Focus] China International predicts that next year, the retail sales of passenger vehicles in China will decrease by 2% year-on-year, but exports will increase by 10%.
Jinwu Financial News | China Merchants International released the outlook for the auto industry in 2025, predicting that retail sales of passenger vehicles in China will decline by 2% year-on-year to 23.08 million units in 2025, mainly due to the overdraw caused by the accelerated trade-in policy this year. The institution expects that with the increase in overseas sales and the replenishment of inventory, wholesale sales of passenger vehicles in China will rise by 3.8% year-on-year in 2025. Looking at the sales over the past two years, the institution believes that China's auto sales still have strong resilience. The institution evaluated the penetration rate and development potential of domestic brands in 60 major countries globally, estimating the potential scale of overseas sales in a mid-term dimension of about five years.
Huachuang Securities: It is expected that electric vehicle sales will see significant growth in Q4 2024, pay attention to the policies for capturing orders at the end of the year.
Based on the sales data of various automobile manufacturers from January to October 2024 and the potential new vehicles, it is expected that the domestic wholesale sales of new energy passenger vehicles could reach 12.12 million units, +35%, of which pure electric vehicles could account for 6.79 million units, +9%, and hybrid vehicles could account for 5.34 million units, +94%.
Geely autos issued 0.2255 million shares due to the exercise of stock options.
Geely Autos (00175) announced that on December 6, 2024, it will issue 0.2255 million ordinary shares due to the exercise of share options by the group's employees under the share option scheme adopted on April 28, 2023.
Zhaoyin International: Cost-effectiveness and brand strength are the keys to success for electric vehicles next year. Automakers' first choice is Geely Autos (00175) and others.
CMB International expects China's electric vehicle retail and wholesale sales to increase by 22% annually to 13.35 million units and 149 million units by 2025.