CMSC International: Some car companies weakened in November as expected, with Geely Auto (00175) leading the way in vehicle sales.
The first recommendation is Geely Auto (00175), which is expected to launch about 10 new models next year to boost domestic sales, while maintaining high export growth. The second recommendation is BYD Company Limited (01211) and Xpeng Inc (09868).
CMSC International released a research report stating that the weakening month-on-month performance of some Chinese car companies in November is in line with expectations, and it is recommended to strategically position in high-quality stocks. Among the automotive companies, GEELY AUTO (00175) is recommended as the top choice, with expectations that around 10 new car models will drive domestic sales next year while maintaining high export growth. BYD COMPANY (01211) and XPENG-W (09868) are also recommended.
In the automotive parts sector, the bank recommends MINTH GROUP (00425) for its expansion into new AI fields such as human-shaped Siasun Robot&Automation and the low-altitude economy, opening up new market opportunities. Fuyao Glass Industry Group (03606) is also recommended for its strong positioning along the group's industrial chain and stable growth. As for Siasun Robot&Automation and the intelligent driving industry chain, the stock prices of companies in these sectors have temporarily fallen due to the impact of the AI industry chain. In the medium to long term, the AI+ automotive and AI+Siasun Robot&Automation sectors are viewed favorably. UBTECH ROBOTICS (09880), HORIZONROBOT-W (09660), HESAI-W (02525), and GEEKPLUS-W (02590) are recommended in this regard.
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