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Express News | Li Auto up 3.2%, Xpeng up 3.3%
Express News | Ishares China Large Cap ETF up 2.4%, Kraneshares CSI China Internet ETF up 2.8%
Express News | U.S.-Listed Shares of Chinese Firms Rise Premarket Tracking Gains in Mainland Peers
DBS Sticks to Its Buy Rating for XPeng, Inc. ADR (XPEV)
Express News | China's SAIC Motor: To Extend Partnership With VW to 2040
Hong Kong stocks movement | Automotive stocks collectively rose sharply in the late trading session. China and Europe are expected to reach an agreement on electric vehicle tariffs. Major institutions are bullish on next year's sales continuing strong gro
Autos stocks collectively rose in the final trading session, as of the time of writing, Great Wall Motor (02333) rose by 4.55%, to 12.88 Hong Kong dollars; XPeng Motors-W (09868) rose by 4.05%, to 46.2 Hong Kong dollars; NIO Inc.-W (02015) received net buy with 2.38%, to 88.35 Hong Kong dollars; LeapMotor (09863) rose by 1.95%, to 28.75 Hong Kong dollars.
[Brokerage Focus] Citi points out that the retail sales of new energy autos in China are stable, and the growth rate of plug-in hybrids and extended-range electric vehicles will be higher than pure electric ones.
Jinwu Financial News | Citibank's research reports indicate that retail sales of new energy fund vehicles in china are expected to grow by +31%/-41%/+25% quarter-on-quarter in the fourth quarter of 2024/first quarter of 2025/second quarter of 2025, with a more robust year-on-year growth of 66%/34%/26%. The year-on-year changes for internal combustion engine autos are -4%/-39%/-42%. This is mainly due to 1) the shift in consumer behavior in china towards advanced driver-assistance systems (ADAS) and relatively inexpensive plug-in hybrid vehicles with lower operation costs compared to internal combustion engine autos.
U.S. stocks closed: The Dow and S&P reached all-time highs, while general motors plunged nearly 9%.
① Most technology giants rose, only Tesla fell; ② Eli Lilly and Co rose by 4.5%, as Biden proposed health insurance coverage for weight loss drugs; ③ The Chinese concept stock Jinlong Index fell by 0.8%, Nio fell by 7.7%; ④ Apple proposed to increase investment by 0.1 billion US dollars to seek to lift the sales ban, but was rejected by the Indonesian government.
[Brokerage Focus] swhy maintains a 'buy' rating on XPeng Motors (09868), citing strong sales of the company's new car.
Jingu Financial News | Shenwan Hongyuan's research reports pointed out that Xiaopeng Motors (09868) disclosed its 2024 third-quarter report, achieving a total sales volume of 0.099 million vehicles in the first three quarters, a year-on-year increase of 21.0%; total revenue of 24.76 billion yuan, a year-on-year increase of 40.5%; gross margin of 14.2%, a year-on-year increase of 16.3 percentage points; net income attributable to the parent company was -4.46 billion yuan, a year-on-year decrease of 4.57 billion yuan. In Q3 2024, total sales volume was 0.047 million vehicles, with a year-on-year/quarter-on-quarter increase of 16.3/54.0%; total revenue of 10.1 billion yuan, with a year-on-year/quarter-on-quarter increase of 18.4/24.5%; gross margin of 15.3%, with a year-on-year/quarter-on-quarter increase of 17.
Shinry Technologies (300745.SZ): has always maintained a long-term stable cooperative relationship with Xiaopeng autos.
On November 26, Gelonghui reported that shinry technologies (300745.SZ) stated on the investor interaction platform that as a supplier to Xiaopeng autos, shinry technologies has maintained a long-term stable cooperative relationship with Xiaopeng autos. The company has been cooperating with Xiaopeng autos since 2017, continuously innovating and developing together. With high-quality products and a stable supply capability, the company was awarded the 'Business Partner Award' by Xiaopeng autos. The company will continue to work hand in hand with Xiaopeng autos to jointly promote the development of high-end intelligent electric vehicles. At the same time, the company will continuously pursue technological innovation and product iteration upgrades to provide customers with even higher quality.
Under the dual pressures of 'price wars' and electrification transformation, this year will see 4,000 4S stores close down. Traditional dealers are 'abandoning' rbob gasoline vehicles and embracing new energy.
① The deputy secretary-general of the China Automobile Dealers Association, Lang Xuehong, recently predicted that the number of 4S stores expected to withdraw from the market this year will reach 4,000. ② In the past year, more than 40 traditional luxury brand dealers have chosen to switch to Nio. ③ Zhongsheng Hldg announced that it has signed a preliminary agreement with Chongqing Sokon Industry Group Stock, and both parties agree to further negotiate on the cooperative distribution of new energy fund.
Citic Securities: The circle of swapping batteries is gradually expanding, and the industry may usher in new development opportunities.
Citic sec released a research report stating that compared to charging, battery swapping is a more efficient refueling method, while also having multiple advantages such as high safety and user-friendliness.
US stocks closed: The Dow Jones rose nearly 1% to a new high, while nvidia and Tesla fell sharply against the trend.
① The nasdaq china golden dragon index rose by 0.44%; ② bitcoin fell back, microstrategy dropped more than 4%; ③ international oil prices plummeted, conocophillips fell by 5%; ④ California plans to introduce electric autos purchase subsidies, with Tesla being excluded.
Niu Sen openly challenges Trump: If you cancel electric vehicle subsidies, California will pay for it themselves.
① Newsom stated that if the Trump administration cancels the federal tax credit, California will restart its own subsidy program; ② According to the latest data, the total number of zero-emission autos sold in California has exceeded 2 million; ③ During Trump's first term, a dispute occurred with Newsom regarding automobile emission standards.
XPeng, Inc.: Strong Buy Rating Driven by Promising Growth, Technological Advancements, and Increased Sales Projections
[Brokerage Focus] Changjiang Securities gives a 'buy' rating to Xiaopeng Motors (09868), expecting its sales volume to accelerate growth.
Jingwu Finance | Changjiang Securities released a research report indicating that XPeng Motors (09868) achieved revenue of 10.1 billion yuan in the third quarter, a year-on-year increase of 18.4% and a quarter-on-quarter increase of 24.5%. The net loss was 1.81 billion yuan, narrowing the loss by 2.08 billion yuan year-on-year, with a Non-GAAP net loss of 1.53 billion yuan, narrowing the loss by 1.26 billion yuan year-on-year. The report indicated that under a strong new vehicle cycle, the delivery volume surged, coupled with increased revenue from Volkswagen services, resulting in revenue exceeding 10 billion yuan, and a gross margin reaching a new high of 15.3%. The expected delivery volume for Q4 2024 is between 87,000 and 91,000 vehicles, representing a year-on-year increase of 44.6-51.3%.
DBS: Maintains "buy" rating for Xiaopeng Motors-W (09868) and raises target price to 67 Hong Kong dollars.
DBS has revised upward the sales growth forecast for Xpeng autos for the fiscal years 2025 and 2026 to 65% and 25%, approximately 0.308 million and 38.5 thousand units respectively.
The EU may adjust tariffs on electric autos from China, with NIO rising over 4%, leading Hong Kong's auto stocks.
① How did china's automotive export data perform in October? ② What are the institutions' expectations for the chinese automotive market in November?
The electric vehicle sector started off well, with NIO (09866) rising by 6.26%. China Association of Automobile Manufacturers expects further increase in the November car market heat.
The new energy autos sector started off well. As of the time of publication, NIO (09866) rose by 6.26%, Leapmotor (09863) rose by 3.99%, XPeng Motors (09868) rose by 3.1%, Geely Autos (00175) rose by 2.96%, and Li Auto (02015) rose by 2.57%.
Cui Dongshu: In October, China's automobile exports reached 0.59 million units, a year-on-year increase of 11%.
Cui Dongshu, the secretary-general of the Passenger Car Association, stated that in October 2024, China's automobile exports reached 0.59 million units, an 11% year-on-year increase from October 2023 and a 3% decrease compared to last month, with stable year-on-year and month-on-month trends.