On July 29, Guolonghui reported that Daiwa published a research report stating that the National Development and Reform Commission recently issued a notice on several measures for large-scale equipment updates and rotation of consumer goods. It plans to arrange 300 billion yuan RMB to strengthen support for large-scale equipment updates and rotation of consumer goods. The subsidies for replacing old cars with new ones have been increased. It is expected that Great Wall Motor, Geely Auto, Sinotruk and Times Electric will all benefit from the policy, and all will receive a "buy" rating. We look forward to the new policy driving the replacement demand for passenger cars, heavy-duty trucks, and new energy city buses to increase.
大行评级｜大和：预料长汽、吉利、中国重汽及时代电气等将受惠以旧换新政策 予“买入”评级
Dahua Rating｜Daiwa: It is expected that Chang'an, Geely, Sinotruk, and Times Electric will benefit from the old-for-new policy and are rated as "buy".
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