HK Stock Market Move | Automobile stocks rise against the market trend, high oil prices strengthen the advantages of new energy vehicles, with new energy vehicle exports doubling year-on-year in the first quarter.

Car stocks rose against the market. As of the time of writing, NIO-SW (09866) rose by 7.26% to HKD 52.3; BYD COMPANY (01211) rose by 3.81% to HKD 109.1; CHERY AUTO (09973) rose by 3.28% to HKD 33.36; GEELY AUTO (00175) rose by 1.52% to HKD 25.36. On the news front, data released by the China Association of Automobile Manufacturers shows that in the first quarter, car exports reached 2.226 million units, a year-on-year increase of 56.7%; of which 954,000 were new energy vehicles, a year-on-year increase of 1.2 times, while traditional fuel vehicle exports reached 1.271 million units, a year-on-year increase of 29.9%. The China Passenger Car Association stated that in March, both the export volume of fuel vehicles and new energy vehicles by passenger car manufacturers set new monthly records. Guolian Minsheng Securities released a research report stating that recently, international oil prices have remained high, significantly amplifying the full-life cycle cost advantages of new energy vehicles in overseas markets. The global competitiveness of products from Shanxi Guoxin Energy Corporation has further highlighted. In March, China's passenger car export sales reached 695,000 units, a year-on-year increase of 74.3% and a month-on-month increase of 25.2%; cumulative export sales for the first quarter reached 1.83 million units, a year-on-year increase of 61.4%. In terms of structure, leading car companies have strong momentum in going global, with GEELY AUTO's first-quarter export sales increasing by 125.7% year-on-year, BYD Company Limited and Chery exceeding 50% year-on-year, indicating a positive outlook for the overall trend of vehicle exports.