According to the Zhixun Finance APP, Geely Auto (00175) is now up over 4%, and as of press time, it is up 3.48% at HKD9.21, with a turnover of HKD157 million.

On the news front, Ji Ke recently announced that its first-quarter revenue was CNY14.737 billion, a year-on-year increase of 71%; of which, vehicle sales revenue was CNY8.174 billion, a year-on-year increase of 73%; vehicle gross profit margin was 14%, up 3.9 percentage points from last year. Data show that in the first quarter of this year, Ji Ke delivered about 33,100 vehicles, a year-on-year increase of 117%. From January to May this year, Ji Ke's cumulative sales volume was about 68,000 vehicles, with monthly sales of over 15,000 units for two consecutive months in April and May.

In addition, the European Commission stated that it plans to impose tariffs of 17.4%, 20%, and 38.1% on BYD, Geely Auto, and SAIC respectively. Bocom International pointed out that some car companies with economies of scale and supply chain advantages still have competitiveness under a 20% tariff. In addition, the EU's tariffs have a different purpose than the US policy, mainly to reduce Chinese automakers' reliance on cost advantages to export low-cost new energy vehicles from China to Europe. Therefore, the bank believes that more Chinese automakers will build factories locally in Europe, while BYD, Geely, and Great Wall have improved their export layouts and overseas sales are expected to maintain growth.