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2026-06-24 11:57:37 CLSA released a research report stating that during last week癒礎s Dragon Boat Festival holiday, China癒礎s auto orders rebounded, but demand is still expected to weaken YoY. Driven by new model launches from BYD COMPANY (01211.HK) and strong domestic performance of GEELY AUTO (00175.HK), orders for leading brands rose 34% WoW, while mass-market brands increased 51%. On the policy front, the broker believes the Ministry of Commerce癒礎s new measures to support auto consumption focus on the after-sales market, aiming to facilitate future value chain extension and enhance user experience. This differs from last year癒礎s direct subsidy program and is expected to have limited impact on stimulating short-term demand. The broker assigned BYD COMPANY (01211.HK) and GEELY AUTO (00175.HK) a High-Conviction Outperform rating, with TP at HKD130 and HKD30 respectively. LEAPMOTOR (09863.HK) was given an Outperform rating with a TP of HKD60. (sl/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. | |