On September 20th, the Hong Kong stock market's automotive sector collectively surged, with xpeng rising more than 10%, geely auto rising nearly 7%, zerouno autos, li auto inc rising over 5%, nio inc, everg vehicle rising over 3%, guangzhou automobile group rising over 2%, great wall motor, byd company limited, baic motor rising over 1%. On the news front, following a high-level meeting between China and the European Union, the EU has agreed to reconsider establishing a minimum selling price for Chinese imported electric vehicles to avoid EU tariffs of up to 35%. The Chinese Ministry of Commerce stated that Minister of Commerce Wang Wentao met with European Commission Vice President and Trade Commissioner Valdis Dombrovskis at the EU headquarters to conduct comprehensive, in-depth, and constructive negotiations on the EU's anti-subsidy investigation into Chinese electric vehicles. Both sides clearly expressed the political will to resolve differences through negotiations, agreeing to continue promoting negotiations on the price undertaking agreement and exerting full efforts to reach a mutually acceptable solution through friendly dialogue. If the EU insists on implementing unreasonable tax measures, China will firmly take necessary responses to safeguard the legitimate rights and interests of enterprises.