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<Research>UOB Kay Hian: US-Iran Conflict Boosts Oil Prices, Accelerates EV Popularization
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The US-Iran conflict boosted oil prices, accelerating the popularization process of EVs, with limited short-term cost impact on China's auto industry, UOB Kay Hian published a research report saying. Overall, there is essentially no effect on China's exports to Europe. If oil prices continue to rise by US$15-20 per barrel, the gap between fuel and electricity costs could widen by 20-30%, potentially increasing China's EV penetration rate by 2-3 pepts in the short term. Furthermore, BYD COMPANY (01211.HK) announced its second-generation blade battery, megawatt-class charging technology and several new models yesterday (5th). However, the broker believed that, as peers also launched comparable technologies, it is unlikely to reverse the sales downtrend in the short term. In the industry, UOB Kay Hian's top buys include CATL (300750.SZ), GANFENGLITHIUM (01772.HK), MINTH GROUP-100 (00425.HK) and GEELY AUTO (00175.HK), while LI AUTO-W (02015.HK) is its top sell. Stock | Rating | TP (HKD) CATL (300750.SZ) | Buy | RMB550 GANFENGLITHIUM (01772.HK) | Buy | 90 MINTH GROUP-100 (00425.HK) | Buy | 62 GEELY AUTO (00175.HK) | Buy | 36 LI AUTO-W (02015.HK) | Sell | 50 AASTOCKS Financial News Website: www.aastocks.com |
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