HK Stock Market Move | YONGDA AUTO(03669) rose by more than 5%, the company continues to accelerate the expansion of its new energy vehicle network layout.

YONGDA AUTO (03669) rose more than 5%, reaching a 5.25% increase to HKD 2.62 as of the publication, with a trading volume of HKD 49.647 million. On the news front, YONGDA AUTO recently opened two new authorized Huawei Hongmeng Smart Travel stores in Baoshan and Yuhuaqiao, Shanghai. Following the successful operation of its initial user centers in Shanghai, Zhenjiang, Wuxi, Kunming, and Quzhou, YONGDA continues to accelerate the expansion of its new energy vehicle network layout, further enhancing its market influence. YONGDA Group previously stated that it expects to increase its number of Huawei stores to 15/30 by the end of 2024/first quarter of 2025, providing favorable conditions for revenue and profit growth. Xinda International previously noted that the group's recent development focus has been on its core product competitiveness and the well-known independent brand Xinjiang Lixin Energy, successfully undertaking brands such as Huawei (AITO and Hongmeng Smart Travel), Xiaomi, and Zeekr, with a total of 7 stores in operation (3 AITO and 4 Hongmeng Smart Travel). Additionally, Hang Seng Index Company recently announced the quarterly review results of the Hang Seng Index series as of December 31, 2024, with adjustments set to take effect on March 10. YONGDA AUTO will be removed from the Hang Seng Composite Index constituents.