HK Stock Market Move | Geely Auto (00175) rose nearly 5% with August sales increasing significantly compared to the same period last year. The brand new SUV, Geely Galaxy M9, will officially be launched next week.

Geely Auto (00175) rose nearly 5%, as of the time of publication, up 4.7% to HKD 19.17, with a turnover of HKD 9.72 billion. In terms of news, Geely Auto announced that its total sales in August were 250,200 units, an increase of 38.0% year-on-year and 5.2% month-on-month. Of these, sales of new energy vehicles were 147,300 units, an increase of 95.2% year-on-year and 13.2% month-on-month. From January to August, Geely Auto's total sales were 1.8971 million units, an increase of 47.3% year-on-year, achieving 63.2% of its annual sales target of 3 million units by August. According to preliminary statistics from the China Passenger Car Association, wholesale sales of passenger cars in China from August 1-24 increased by 12% year-on-year and 5% month-on-month. The third batch of subsidy funds was issued at the end of July, and some regions have gradually restarted the trade-in program. With the market gradually warming up as the end of the off-season approaches, it is expected that the company's sales growth in August will be higher than the industry average, and its market share will continue to rise. It is worth noting that Geely Galaxy Auto recently announced that its new SUV, the Galaxy M9, will officially launch on September 17. The vehicle completed its pre-sale on August 23, offering 6 models priced at between 193,800 and 258,800 yuan, with over 40,000 orders placed within 24 hours. Orient stated that the Galaxy brand already has a strong influence and recognition in the mainstream market, and its new products have strong market competitiveness. As the Galaxy brand's product lineup gradually improves, its market share is expected to further increase.