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| HSI1 | 23,094.83 | 0.00 | -- |
| HSCEI1 | 7,791.63 | 0.00 | -- |
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2026-10-28 15:52:42 CLSA published a research report stating that China's auto market has seen a mild recovery, with BYD COMPANY (01211.HK) driving most of the rebound, while other brands recorded moderate growth. Launches of new vehicle models injected momentum into the market, with orders of major brands rebounding 24% WoW last week, reversing the post-holiday weakness seen in the previous week. Among them, mass-market orders rose 30% WoW, mainly driven by strong demand for BYD's second-generation Seagull. Orders for new EV makers and premium brands including NIO-SW (09866.HK), XPENG-W (09868.HK) and LI AUTO-W (02015.HK) increased 7% and 9% WoW respectively. However, the broker believes the overall auto market is still bottoming out, and expects October retail sales volume to remain far below last year's level. As anti-involution measures limit room for further price cuts, the broker expects launches of new vehicle models to be the key driver for sales in 4Q26. Intensive launches of new models in the coming weeks should provide certain support. The broker assigned High Conviction Outperform ratings to BYD COMPANY (01211.HK) and GEELY AUTO (00175.HK), with target prices of HKD109 and HKD22 respectively. LEAPMOTOR (09863.HK) was rated Outperform with a target price of HKD61. (gc/da)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |