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2025-10-24 12:39:27 The sales of EVs in mainland China grew by 16% both MoM and YoY in September, with positive channel order performance during the Golden Week in October, partly driven by consumers' front-loaded purchases ahead of changes in year-end subsidy policies, HSBC Global Research issued a research report saying. Due to weak auto demand and fierce competition, the broker favored resilient suppliers over auto manufacturers, and was optimistic about CATL (03750.HK)(300750.SZ) due to its solid profitability and clear overseas expansion prospects, with target prices for CATL's H-/ A-shares being $594/ RMB450, respectively. Moreover, HSBC Global Research estimated FUYAO GLASS (03606.HK)(600660.SH) to benefit from increased sales and average selling prices, driving profit margins and overseas growth, with target prices for FUYAO GLASS' H-/ A-shares being $91.2/ RMB92.2 each. The broker also liked leaders in autonomous driving, such as HORIZONROBOT-W (09660.HK)/ TUOPU GROUP (601689.SH), with target prices of $11/ RMB82, respectively. Among automakers, HSBC Global Research preferred GEELY AUTO (00175.HK) on its continuous gain in EV market share, upgrades in autonomous driving technology and strong product pipeline in 2H25, with a target price of $30. The above stocks are rated at Buy. ~ AASTOCKS Financial News Website: www.aastocks.com | |