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>We summarize the May 2024 price discounts at dealers for major automakers in this report.</li><li>Note that such discounts for each automaker are calculated based on the weighted average of Apr 2024 retail sales volume for each model, as May 2024 retail sales volume data have not been released yet.</li><li>The industrywide average discounts widened by 0.6ppt MoM in May based on our calculations, the largest MoM increase YTD, mainly driven by German and Japanese brands. </li></ul>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.

We summarize the May 2024 price discounts at dealers for major automakers in this report.Note that such discounts for each automaker are calculated based on the weighted average of Apr 2024 retail sales volume for each model, as May 2024 retail sales volume data have not been released yet.The industrywide average discounts widened by 0.6ppt MoM in May based on our calculations, the largest MoM increase YTD, mainly driven by German and Japanese brands. 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.

Auto - Foreign Brands’ Pricing System Has Faltered

Blue Lotus China New Economy Research, Blue Lotus Research Institute

Eric Wen

Blue Lotus China New Economy Research

China growth and global non-US Internet equities

Blue Lotus Research Institute

Blue Lotus Research is a Hong Kong Type 4 Licensed investment advisory firm focusing on Chinese growth equities and global non-US Internet equities

<ul>
<li>BEKE US:  Takeaways from Beike Investor Day on June 3(/)</li>
<li>9926 HK: Akeso adds sales rights to AK112 in developing countries, possibly preparing for overall sale(/)</li>
<li>1211 HK/ LI US: BYD launches fifth-generation hybrid petrol-electric technology, which can run 2,100 kilometers on full-tank+full-battery(///)</li>
</ul>


BEKE US:  Takeaways from Beike Investor Day on June 3(/)
9926 HK: Akeso adds sales rights to AK112 in developing countries, possibly preparing for overall sale(/)
1211 HK/ LI US: BYD launches fifth-generation hybrid petrol-electric technology, which can run 2,100 kilometers on full-tank+full-battery(///)


[Blue Lotus Daily]:BEKE US/9926 HK/1211 HK/ LI US

<ul><li>Chinese automakers including BYD, NIO, Xpeng, Li Auto, Aion, Deepal, Neta, Leap, and Xiaomi etc reported their May 2024 sales volumes during 1-2 Jun.</li><li>Total sales volume combined rose 38% YoY (ranging from -22% to +234%) and 12% MoM (ranging from +6% to +43%).</li><li>NIO beat, Li Auto in-line, Xpeng could be restocking. Li Auto delivered about 35,000 units (+36% MoM) in May, with about 13,000 units from the L6, which also implied that the other models’ total deliveries declined MoM in May, based on our calculations.</li></ul>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.

Chinese automakers including BYD, NIO, Xpeng, Li Auto, Aion, Deepal, Neta, Leap, and Xiaomi etc reported their May 2024 sales volumes during 1-2 Jun.Total sales volume combined rose 38% YoY (ranging from -22% to +234%) and 12% MoM (ranging from +6% to +43%).NIO beat, Li Auto in-line, Xpeng could be restocking. Li Auto delivered about 35,000 units (+36% MoM) in May, with about 13,000 units from the L6, which also implied that the other models’ total deliveries declined MoM in May, based on our calculations.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.

Auto - May NEV Retail Share to Hit 45%; NIO Beat

<ul>
<li>NIO US/1810 HK/ LI US: EV sales in the 20th week of 2024 NIO, Xiaomi and LI performed well(/////)</li>
<li>BEKE US: Shanghai implements central government policies to further stimulate property market demand from nine aspects.(+)</li>
<li>981 HK/1347 HK/1810 HK/ACMR/China semiconductor: China launches Big Fund III to support semiconductor development (+)</li>
</ul>


NIO US/1810 HK/ LI US: EV sales in the 20th week of 2024 NIO, Xiaomi and LI performed well(/////)
BEKE US: Shanghai implements central government policies to further stimulate property market demand from nine aspects.(+)
981 HK/1347 HK/1810 HK/ACMR/China semiconductor: China launches Big Fund III to support semiconductor development (+)


[Blue Lotus Daily]:NIO US/1810 HK/ LI US/BEKE US/981 HK/1347 HK/ACMR/9926 HK

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>Li Auto / In Depth: Mega blunder adds to Li Auto’s troubles as Huawei rivalry hots up </li><li>Insights /Overcapacity: could be repurposed as ‘Chinese Marshall Plan,’ expert says</li><li>Credit /: China’s credit demand sluggish as economic sentiment sours, expert says</li></ul>

Li Auto / In Depth: Mega blunder adds to Li Auto’s troubles as Huawei rivalry hots up Insights /Overcapacity: could be repurposed as ‘Chinese Marshall Plan,’ expert saysCredit /: China’s credit demand sluggish as economic sentiment sours, expert says

CX Daily: Mega Blunder Adds to Li Auto’s Troubles as Huawei Rivalry Hots Up 

China

Li Auto Inc. manufactures automobiles. The Company designs, develops, and sells smart new energy electric sport utility vehicles. Li Auto conducts businesses in China.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Li Auto (LI US)

Auto - Foreign Brands’ Pricing System Has Faltered

The industrywide average discounts widened by 0.6ppt MoM in May based on our calculations, the largest MoM increase YTD, mainly driven by German...

CMB International

[Blue Lotus Daily]:BEKE US/9926 HK/1211 HK/ LI US

Key takeaways from recent events: Beike Investor Day insights, Akeso's sales rights expansion, and BYD's innovative hybrid technology launch.

Blue Lotus Research Institute

[Blue Lotus Daily]:NIO US/1810 HK/ LI US/BEKE US/981 HK/1347 HK/ACMR/9926 HK

EV sales for NIO, Xiaomi, and LI were strong in the 20th week. Shanghai is implementing policies to boost property market demand. China has...

Blue Lotus Research Institute

CX Daily: Mega Blunder Adds to Li Auto’s Troubles as Huawei Rivalry Hots Up

Li Auto / In Depth: Mega blunder adds to Li Auto’s troubles as Huawei rivalry hots up Li Auto Inc. (理想汽车) had reasons to be upbeat heading towards...

Caixin Global

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Auto - Foreign Brands’ Pricing System Has Faltered

The industrywide average discounts widened by 0.6ppt MoM in May based on our calculations, the largest MoM increase YTD, mainly driven by German...

CMB International

[Blue Lotus Daily]:BEKE US/9926 HK/1211 HK/ LI US

​Key takeaways from recent events: Beike Investor Day insights, Akeso's sales rights expansion, and BYD's innovative hybrid technology launch.

Blue Lotus Research Institute

Auto - May NEV Retail Share to Hit 45%; NIO Beat

Chinese automakers including BYD, NIO, Xpeng, Li Auto, Aion, Deepal, Neta, Leap, and Xiaomi etc reported their May 2024 sales volumes during 1-2 Jun.

CMB International

[Blue Lotus Daily]:NIO US/1810 HK/ LI US/BEKE US/981 HK/1347 HK/ACMR/9926 HK

​EV sales for NIO, Xiaomi, and LI were strong in the 20th week. Shanghai is implementing policies to boost property market demand. China has...

Blue Lotus Research Institute

CX Daily: Mega Blunder Adds to Li Auto’s Troubles as Huawei Rivalry Hots Up

Li Auto / In Depth: Mega blunder adds to Li Auto’s troubles as Huawei rivalry hots up Li Auto Inc. (理想汽车) had reasons to be upbeat heading towards...

Caixin Global

Key takeaways from recent events: Beike Investor Day insights, Akeso's sales rights expansion, and BYD's innovative hybrid technology launch.

EV sales for NIO, Xiaomi, and LI were strong in the 20th week. Shanghai is implementing policies to boost property market demand. China has...