HK Stock Market Move | Central European electric vehicle negotiations make significant progress BYD COMPANY (01211) rose more than 4% XPENG-W (09868) rose more than 3%

Stocks of car companies rose in the early morning, with BYD COMPANY (01211) up 4.13% to HK$99.65, XPENG-W (09868) up 3.55% to HK$83.2, LEAPMOTOR (09863) up 2.91% to HK$48.8, and LI AUTO-W (02015) up 2.54% to HK$66.7. In terms of news, the Ministry of Commerce announced on January 12th that negotiations between China and the EU on the electric car case have progressed. The EU will release a "Guidance Document on Submitting Price Commitment Applications," adhere to the non-discrimination principle, and evaluate each price commitment application objectively and fairly in accordance with WTO rules. The China Machinery Industry Association believes that properly addressing the EU's anti-subsidy case against Chinese electric cars is a common expectation for the electric car industry in China and Europe. It will help promote the security and stability of the supply chain in the China-Europe related industrial chain, maintain the overall situation of China-Europe economic and trade cooperation, and uphold the international trade order based on rules.