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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.

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Cross Asset Strategy

<ul><li><p>Drugs / In Depth: Why China’s regulators have cough medicine in their sights</p></li><li><p>Corruption / Former justice minister given suspended death sentence</p></li><li><p>Yuan / China and Kazakhstan set up offshore yuan clearing</p></li></ul>

Drugs / In Depth: Why China’s regulators have cough medicine in their sightsCorruption / Former justice minister given suspended death sentenceYuan / China and Kazakhstan set up offshore yuan clearing

CX Daily: Why China’s Regulators Have Cough Medicine in Their Sights

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)

<div><div><div><div><ul><li>China’s passenger-vehicle (PV) wholesale volume surged 37% YoY to 2.13mn units in Aug 2022, 1% higher than our prior projection.</li><li>Similar to Jul 2022, that figure made the best Aug wholesale volume in history and 13% higher than the second-best Aug sales occurred in 2017.</li><li>Retail sales volume, based on insurance data, rose 18% YoY to 1.89mn units, 2% lower than our prior forecast.</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) wholesale volume surged 37% YoY to 2.13mn units in Aug 2022, 1% higher than our prior projection.Similar to Jul 2022, that figure made the best Aug wholesale volume in history and 13% higher than the second-best Aug sales occurred in 2017.Retail sales volume, based on insurance data, rose 18% YoY to 1.89mn units, 2% lower than our prior forecast.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 – What we worried earlier is partially priced in now

<div><div><div><div><ul><li>Eight new-energy vehicle (NEV) brands including NIO, Xpeng, Li Auto, Zeekr, Aion, AITO, Neta and Leap reported their Aug 2022 sales volumes on 1 Sep 2022.</li><li>Sales volume of the eight brands combined rose 117% YoY (ranged from -52% to +193%) and 2% MoM (ranged from -56% to +43%).</li><li>NIO leads among NEV trio. NIO was the only automaker among the NEV trio with MoM growth in sales volume, which is consistent with our prior argument that NIO should have the best sequential growth in sales volume among the NEV trio in 3Q22. We estimate the ET7 has about 4-5 months of order backlog.</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>

Eight new-energy vehicle (NEV) brands including NIO, Xpeng, Li Auto, Zeekr, Aion, AITO, Neta and Leap reported their Aug 2022 sales volumes on 1 Sep 2022.Sales volume of the eight brands combined rose 117% YoY (ranged from -52% to +193%) and 2% MoM (ranged from -56% to +43%).NIO leads among NEV trio. NIO was the only automaker among the NEV trio with MoM growth in sales volume, which is consistent with our prior argument that NIO should have the best sequential growth in sales volume among the NEV trio in 3Q22. We estimate the ET7 has about 4-5 months of 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 – Aug NEV: All-time high sales for tier-2 brands

<ul><li><p>In Depth: Chinese consumer startups find taking on global titans is no easy task</p></li><li><p>Shanghai’s top prosecutor investigated for graft</p></li><li><p>Hong Kong money man Calvin Choi faces two-year industry ban for misconduct</p></li></ul>

In Depth: Chinese consumer startups find taking on global titans is no easy taskShanghai’s top prosecutor investigated for graftHong Kong money man Calvin Choi faces two-year industry ban for misconduct

CX Daily: Chinese Consumer Startups Find Taking On Global Titans Is No Easy Task

<ul>
<li>Multiple Chinese electric-vehicle (EV) makers posted shrinking monthly deliveries in April as the country’s severe Covid outbreaks disrupted sales channels, supply chains and road transport.</li>
<li>The Covid-19 resurgence in the Yangtze Delta region continues to cause severe industry-wide disruptions in supply chain, logistics and production since late March</li>
<li>China has been battling the worst wave of Covid-19 outbreaks since late March, in which Shanghai logged record daily infections during five weeks of an ongoing citywide lockdown.</li>
</ul>


Multiple Chinese electric-vehicle (EV) makers posted shrinking monthly deliveries in April as the country’s severe Covid outbreaks disrupted sales channels, supply chains and road transport.
The Covid-19 resurgence in the Yangtze Delta region continues to cause severe industry-wide disruptions in supply chain, logistics and production since late March
China has been battling the worst wave of Covid-19 outbreaks since late March, in which Shanghai logged record daily infections during five weeks of an ongoing citywide lockdown.


Chinese EV-Makers’ Deliveries Plunge as Lockdowns Hit Dealers, Plants

China

XPeng Inc. designs, produces, and distributes electric vehicles. The Company designs, develops, manufactures and markets smart smart electric vehicles, as well as finance, parts, and maintenance services. XPeng serves customers in China.

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XPeng (9868 HK)

CX Daily: Why China’s Regulators Have Cough Medicine in Their Sights

In Depth: Why China’s regulators have cough medicine in their sights. Former justice minister given suspended death sentence

Caixin Global

China Auto Sector – What we worried earlier is partially priced in now

Similar to Jul 2022, that figure made the best Aug wholesale volume in history and 13% higher than the second-best Aug sales occurred in 2017.

CMB International

China Auto Sector – Aug NEV: All-time high sales for tier-2 brands

Sales volume of the eight brands combined rose 117% YoY (ranged from -52% to +193%) and 2% MoM (ranged from -56% to +43%).

CMB International

CX Daily: Chinese Consumer Startups Find Taking On Global Titans Is No Easy Task

In Depth: Chinese consumer startups find taking on global titans is no easy task. Shanghai’s top prosecutor investigated for graft

Caixin Global

Chinese EV-Makers’ Deliveries Plunge as Lockdowns Hit Dealers, Plants

Multiple Chinese electric-vehicle (EV) makers posted shrinking monthly deliveries in April as the country’s severe Covid outbreaks disrupted sales...

Caixin Global

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