By the afternoon, Launch Tech (02488) rose more than 17%, up 16.36% to HKD 3.84 as of press time, with a turnover of HKD 14.71 million.
According to the Wise Finance APP, in the afternoon, Launch Tech (02488) rose more than 17%, up 16.36% to HKD 3.84 as of press time, with a turnover of HKD 14.71 million.
On the news front, in October 2023, the Ministry of Commerce and nine other departments jointly issued the "Guiding Opinions on Promoting the High-quality Development of the Automotive Aftermarket", proposing seven policy measures in seven areas, such as optimizing the circulation environment of auto parts, promoting the upgrading of auto maintenance services, and optimizing auto consumer finance services. Relevant institutions predict that by 2027, my country's auto ownership will reach 373 million and the average car age will reach 8 years. The market size of the auto after-service industry will also reach 1.9 trillion yuan.
According to Northeast Securities, from the perspective of the entire value chain of new energy vehicles, all aspects from user service to battery recycling belong to the new energy vehicle aftermarket, and the gradual increase of new energy vehicle penetration will bring huge opportunities to the new energy vehicle aftermarket such as new energy vehicle insurance, charging stations, smart cabins, smart parking and used car trading. Launch Tech is a global leader in automotive diagnostics.