HK Stock Market Move | Most new energy vehicle companies are on the rise, with November's new energy sales continuing to grow compared to the same period last year. They may continue to benefit from the policy of replacing old with new for another 25 years.

Most new energy vehicle companies are on the rise. As of the time of writing, BRILLIANCE CHI (01114) rose by 4.53% to HK$3.92; LI AUTO-W (02015) rose by 3.96% to HK$98.25; LEAPMOTOR (09863) rose by 1.07% to HK$33.1; NIO-SW (09866) rose by 3.41% to HK$36.4. Huachuang Securities released a research report stating that November sales continue to show impressive performance, with a high year-on-year increase in new energy vehicles. The 24-year-old policy of trading in old vehicles for new ones will expire at the end of the year, but the market also expects policy continuity. Under normal policy conditions, demand may be somewhat overstretched in the beginning of 25, plus the relatively early timing of the Spring Festival (1/29). Based on historical experience, it is expected that terminal channels will see inventory replenishment in January-February, with wholesale performance outshining retail performance. Despite the lower-than-expected overall demand before the subsidy upgrade in August 24, the macro perspective suggests that domestic demand is expected to improve in 25, with new energy vehicles continuing to benefit. It is predicted that the wholesale volume of new energy passenger vehicles in 25 will reach 15.28 million units, an increase of 26%, with a penetration rate of 53%, an increase of 7.1 percentage points. BOC International pointed out that the global sales of new energy vehicles have been steadily increasing from January to October 24, with a continuous increase in penetration rate and expanding market space. Domestic sales performed well from January to October 24, and in 25, with the recovery of demand, continuous introduction of new models, enhancement of product competitiveness through smart, connected, and fast-charging technologies, combined with policy support for trading in old vehicles for new ones, sales growth is expected to be sustainable. Domestic sales of new energy vehicles are expected to reach a new high.