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Li Auto Newsroom
Investors Will Want Li Auto's (NASDAQ:LI) Growth In ROCE To Persist
The China Automotive Association: In 2024, auto production and sales will reach a new high, with annual production and sales of Electric Vehicles exceeding 10 million units for the first time.
In terms of Passenger Vehicles, production and sales continue to grow, maintaining the top global position for 16 consecutive years. The market share of China brand Passenger Vehicle sales has significantly increased compared to last year, and high-end brand Passenger Vehicle sales have also seen a year-on-year increase; regarding New energy Fund, it has ranked first globally for 10 consecutive years, with both production and sales surpassing 10 million units, and domestic sales growth approaching 40%, with a significant increase in market share compared to last year.
Behind the "fast-driving" Electric Vehicles: New forces constantly reaching new heights, Xiaomi successfully takes its place.
In the December retail sales TOP10 list, 9 car companies experienced year-on-year growth, with only GAC Aion showing a decline; Apart from BYD, three other new car-making forces successfully "delivered on their promises" and achieved their sales targets for 2024.
China NEV Sales at Record 1.596 Million in Dec, CAAM Data Show
30 million units achieved, RBOB Gasoline Passenger Vehicles dropped nearly 20%. China Automotive Industry Association: In 2025, Electric Vehicles will impact 16 million units.
① The deputy secretary-general of the China Automotive Industry Association, Chen Shi Hua, predicts that total auto sales will reach 32.9 million vehicles in 2025, a year-on-year increase of 4.7%. Among these, the sales of new energy autos are expected to be 16 million units, a year-on-year increase of 24.4%. ② In the context of a comprehensive year-on-year decline in market share, it has become a necessary option for joint venture brands to intensify the "price war," with various promotional policies such as limited-time fixed prices, discounts of tens of thousands of yuan, and government subsidies.
Hong Kong stocks movement | Autos stocks continue their downward trend, with January auto sales expected to decline no more than 20% year-on-year. Major institutions claim that the risk of a price war in the auto market still exists.
Automobile stocks continue to decline. As of the time of this report, DONGFENG GROUP (00489) fell by 4.19%, trading at 2.97 Hong Kong dollars; Li Auto-W (02015) dropped by 3.3%, trading at 85.05 Hong Kong dollars; Great Wall Motor (02333) decreased by 0.78%, trading at 12.64 Hong Kong dollars; Xpeng Inc.-W (09868) fell by 0.43%, trading at 46.4 Hong Kong dollars.
Hong Kong stocks morning report on January 13: USA employment data exceeds expectations, China Concept Stocks generally decline.
① The number of non-farm jobs in the USA increased by 256,000 in December, higher than market expectations. ② The yield on 30-year US Treasury bonds rose to 5%, reaching the highest level since November 2023. ③ The three major US stock index fell last Friday, with China Concept Stocks experiencing widespread declines. ④ The 18th ASIA FINANCIAL Forum will be held in Hong Kong. ⑤ The International Monetary Fund warns that Trump's tariff policy exacerbates Global economic uncertainty.
Express News | Shares of Chinese Stocks Are Trading Lower Amid Potential US Sanctions Limiting AI Chip Exports to China
Express News | Biden Administration to Finalize Chinese Connected Vehicle Crackdown Rules Next Week -- Commerce Secretary Raimondo
Hong Kong stock report for January 10: Tencent's Shareholding in Weimob and UBTECH cashing out exceeds 1.6 billion Hong Kong dollars. Cui Dongshu warns of a "price war" storm in the Autos market by 2025.
① Tencent continuously reduced its shareholding in WEIMOB INC and UBTECH, cashing out 1.67 billion Hong Kong dollars. ② Shanghai: By 2026, the new energy storage capacity is expected to reach an application scale of over 0.8 million kilowatts. ③ Cui Dongshu from the Passenger Car Association: The "price war" in the Autos industry will be extremely fierce in 2025. ④ TrendForce predicts that the Global market for large language models in robots is expected to exceed 100 billion dollars by 2028.
GF SEC: How to view the sales elasticity under the continued policy of replacing old Passenger Vehicles with new ones?
The scope of support for auto scrapping and updates has been expanded, with subsidies per vehicle remaining the same as in 2024. It is expected that terminal sales of passenger vehicles in 2025 may show a slight positive growth.
[Brokerage Focus] Changjiang Securities maintains a "Buy" rating on Ideal Autos (02015), citing that the high unit price combined with scale effects is expected to sustain a good level of profitability.
Jinwu Finance | Changjiang Securities released a Research Report indicating that Li Auto (02015) sold 58,513 vehicles in December, a year-on-year increase of 16.2% and a month-on-month increase of 20.1%. The cumulative sales from January to December reached 0.501 million vehicles, a year-on-year increase of 33.1%. In Q4 2024, Li Auto delivered 0.159 million vehicles, a year-on-year increase of 20.4% and a month-on-month increase of 3.8%, reaching the lower limit of Li Auto's previous quarterly sales guidance (160,000 to 170,000 vehicles). In terms of weekly data, Li Auto has maintained the first place in sales among new force brands in the Chinese market for 36 consecutive weeks.
Soochow: The old-for-new policy is implemented, and the Passenger Vehicle market is expected to remain highly prosperous in 2025.
The implementation of the scrapping/replacement policy shortens the policy gap and improves the waiting mood for end consumers regarding purchasing a vehicle, which will positively contribute to the recovery of Passenger Vehicle demand in Q1 2025 and the overall Passenger Vehicle consumption in 2025.
Ping An Securities: The policy for replacing old Autos with new ones is clear, and the stimulating effect will exceed that of 2024.
The impact of policies on auto sales in 2025 will be stronger than in 2024, combined with the Electric Vehicles purchase tax policy, there is a bullish sentiment regarding the stimulating effects of multiple overlapping policies on Electric Vehicles.
Hong Kong stock movement | Li Auto-W (02015) fell nearly 4% in early trading, recently launched a trade-in subsidy to cover entitlements. Major firms are concerned it may drag down first-quarter profits and trigger a price war.
Ideal Autos-W (02015) fell nearly 4% in early trading. As of the time of writing, it is down 3.22%, trading at 88.6 Hong Kong dollars, with a transaction volume of 0.574 billion Hong Kong dollars.
【Brokerage Focus】BOCOM INTL indicated that the scope of support for the Autos industry's trade-in program is further expanding. Attention is on subsequent policy intensification.
Jinwu Financial News | BOCOM INTL released a Research Report indicating that on January 8, 2025, the National Development and Reform Commission and the Ministry of Finance issued a notice on the "Implementation of Large-Scale Equipment Renewal and Consumer Replacement Policy for Old Products in 2025." The report points out that the scope of support for the scrapping and renewal of Autos has been further expanded. RBOB Gasoline Passenger Vehicles sold in the first year after the implementation of the National IV emission standard will be included in the eligible old vehicles for scrapping and renewal subsidies. The bank estimates that this extension of the scrapping and renewal support scope is approximately 11 million vehicles. Additionally, the policy to expedite the replacement of old electric bicycles is in progress. The new 3C certification standards for electric two-wheelers will be officially implemented in November 2024.
AI takes center stage! The CES Autos exhibition booths have transformed as many automakers strengthen their application of Asia Vets in smart cabins.
① BMW globally debuted its next-generation super sensory intelligent cockpit at the 2025 CES exhibition - featuring the innovative panoramic iDrive and BMW's new generation operating system X. ② ZEEKR also regards the 'intelligent cockpit' as one of the key highlights of its exhibition, announcing a partnership with Qualcomm to jointly develop future-oriented intelligent cockpits.
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