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| HSI1 | 23,350.03 | +295.00 | 304.95B |
| HSCEI1 | 7,699.76 | +87.28 | 86.75B |
| Back Zoom + Zoom - Block Traded | |
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2026-07-03 11:43:45 Sales of major automotive OEMs in China continued to recover in June, mainly supported by export growth, improving domestic demand and a stronger vehicle model cycle in 2Q, CLSA said in a report. Sales of major mass-market OEMs elevated 5% MoM, but the gap between domestic and overseas sales widened, indicating divergent industry growth. Despite rising cost inflation in 2Q, the broker continued to view BYD COMPANY (01211.HK) and GEELY AUTO (00175.HK) as top picks, as their expanding overseas presence, technological moat and premiumization strategies should effectively alleviate gross margin pressure. BYD COMPANY's passenger vehicle sales reached 397,300 units in June, up 5% YoY and 5% MoM. Both export and domestic sales increased from the previous month, up 9% and 3%, respectively. The stock was rated High Conviction Outperform, with a TP of HKD130. GEELY AUTO's sales hit 240,800 units in June, up 2% YoY and 1% MoM. On the back of expanded sales channels and increased production capacity for NEV models, its export volume reached 102,900 units, up 21% MoM and accounting for 43% of total sales. The stock was rated High Conviction Outperform, with a TP of HKD30. ~ AASTOCKS Financial News Website: www.aastocks.com | |