Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Cross Asset Strategy

<ul><li><p>China’s Charity Law revision aims to make it easier for NGOs to get involved</p></li><li><p>Experts quash fears of greater chance of China quake after Turkey</p></li><li><p>China’s local governments go on hiring spree to spur growth</p></li></ul>

China’s Charity Law revision aims to make it easier for NGOs to get involvedExperts quash fears of greater chance of China quake after TurkeyChina’s local governments go on hiring spree to spur growth

CX Daily: China’s Charity Law Revision Aims to Make It Easier for NGOs to Get Involved

External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

Thematic (Sector/Industry)

<ul><li>Nine new-energy vehicle (NEV) brands including BYD, NIO, Xpeng, Li Auto, Zeekr, Aion, Aito, Neta and Leap reported their Jan 2023 sales volumes on 1 Feb 2023.</li><li>Sales volume of the nine brands combined rose 22% YoY (ranged from -86% to +449%) and dropped 42% MoM (ranged from -87% to -23%)</li><li>Li Auto beat, NIO and Xpeng miss. Li Auto delivered over 15,000 units in Jan 2023, exceeding some investors’ expectation.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Nine new-energy vehicle (NEV) brands including BYD, NIO, Xpeng, Li Auto, Zeekr, Aion, Aito, Neta and Leap reported their Jan 2023 sales volumes on 1 Feb 2023.Sales volume of the nine brands combined rose 22% YoY (ranged from -86% to +449%) and dropped 42% MoM (ranged from -87% to -23%)Li Auto beat, NIO and Xpeng miss. Li Auto delivered over 15,000 units in Jan 2023, exceeding some investors’ expectation.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China Auto Sector – Jan NEV likely in line or slightly miss; Li Auto beat

<ul><li><p>Yuan / In Depth: Yuan gets more international love as dollar rivalry grows</p></li><li><p>China-Vietnam / Xi pledges supply chain stability with Vietnam</p></li><li><p>PMI / China’s manufacturing contracts for third straight month, Caixin PMI shows　</p></li></ul>

Yuan / In Depth: Yuan gets more international love as dollar rivalry growsChina-Vietnam / Xi pledges supply chain stability with VietnamPMI / China’s manufacturing contracts for third straight month, Caixin PMI shows　

CX Daily: Yuan Gets More International Love As Dollar Rivalry Grows

<div><div><div><div><ul><li>China’s passenger-vehicle (PV) retail sales volume, based on insurance data, rose 9% YoY to 1.86mn units in Sep 2022, 3% lower than our prior forecast.</li><li>Wholesale volume surged 33% YoY to 2.33mn units, 8% higher than our prior projection due to more inventories pushed to dealers than expected.</li><li>Almost 260,000 units of inventories were added into dealers in Sep 2022, the most in any Sep in history. </li></ul></div></div></div></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

China’s passenger-vehicle (PV) retail sales volume, based on insurance data, rose 9% YoY to 1.86mn units in Sep 2022, 3% lower than our prior forecast.Wholesale volume surged 33% YoY to 2.33mn units, 8% higher than our prior projection due to more inventories pushed to dealers than expected.Almost 260,000 units of inventories were added into dealers in Sep 2022, the most in any Sep in history. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China Auto Sector – 2H22E likely beat; FY23E consensus overstated

<ul><li>NIO, Xpeng miss, Li L9 exceeded 10,000 units. Both NIO and Xpeng just hit the lower bound of their 3Q22 sales guidance.</li><li>NIO’s Sep sales volume was about 1,000 units lower than our prior estimates due to sequentially declining sales volume for the ET7.</li><li>We suspect NIO’s supply chain issue is still lingering given ET7’s sufficient order backlog.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

NIO, Xpeng miss, Li L9 exceeded 10,000 units. Both NIO and Xpeng just hit the lower bound of their 3Q22 sales guidance.NIO’s Sep sales volume was about 1,000 units lower than our prior estimates due to sequentially declining sales volume for the ET7.We suspect NIO’s supply chain issue is still lingering given ET7’s sufficient order backlog.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China Auto Sector – Set for NEV new-high sales in Sep and 4Q22

Hong Kong

Geely Automobile Holdings Limited is a leading Chinese automotive company primarily engaged in the research, development, manufacturing, marketing, and sale of passenger vehicles and related components. It offers a diverse portfolio of products including sedans, SUVs, and electric vehicles under brands such as Geely Auto, Lynk & Co, and Zeekr. The company is headquartered in Hong Kong and was founded in 1973.

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Geely Auto (175 HK)

CX Daily: China’s Charity Law Revision Aims to Make It Easier for NGOs to Get Involved

China’s Charity Law revision aims to make it easier for NGOs to get involved. Experts quash fears of greater chance of China quake after Turkey

Caixin Global

China Auto Sector – Jan NEV likely in line or slightly miss; Li Auto beat

Nine new-energy vehicle (NEV) brands including BYD, NIO, Xpeng, Li Auto, Zeekr, Aion, Aito, Neta and Leap reported their Jan 2023 sales volumes on...

CMB International

CX Daily: Yuan Gets More International Love As Dollar Rivalry Grows

In Depth: Yuan gets more international love as dollar rivalry grows. Xi pledges supply chain stability with Vietnam. China’s manufacturing...

Caixin Global

China Auto Sector – 2H22E likely beat; FY23E consensus overstated

China’s passenger-vehicle (PV) retail sales volume, based on insurance data, rose 9% YoY to 1.86mn units in Sep 2022, 3% lower than our prior...

CMB International

China Auto Sector – Set for NEV new-high sales in Sep and 4Q22

NIO’s Sep sales volume was about 1,000 units lower than our prior estimates due to sequentially declining sales volume for the ET7.

CMB International

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