HK Stock Market Move | Most auto stocks rise; Xiaomi (01810) surges 8% on heavy volume; going global is becoming a core growth engine for automakers.

Most auto stocks rise; as of press time, XIAOMI-W (01810) is up 8.37% at HK$25.64; LI AUTO-W (02015) is up 3.35% at HK$44.46; LEAPMOTOR (09863) is up 3% at HK$35.02; BYD COMPANY (01211) is up 3.02% at HK$75.1; Great Wall Motor (02333) is up 2.89% at HK$7.11. On the news front, against the backdrop of pressure in the domestic retail market, overseas sales have become an important driver of automakers' sales growth. Among them, CHERY AUTO, BYD Company Limited, and GEELY AUTO saw their September overseas sales rise 46%, 154%, and 162% year-on-year to 207,800, 180,700, and 106,700 vehicles, respectively. Hualong Securities pointed out that most automakers that achieved positive year-on-year overall sales growth in September also saw rapid growth in overseas sales, and future recovery in passenger vehicle fundamentals requires close attention to overseas market performance. It is worth noting that Xiaomi officially announced the latest figures: in the first month since launch, the Pengcheng series exceeded 70,000 locked orders. Previously, on October 1, Lei Jun said that Xiaomi Pengcheng deliveries in September had already exceeded 10,000 units, directly driving Xiaomi Auto's overall September deliveries past 40,000 units. Industry observers believe that as production capacity further ramps up in the fourth quarter, the Xiaomi Pengcheng series is expected to push Xiaomi Auto's delivery scale to a new level.