According to the Futu Securities APP, auto stocks collectively rose, as of the time of publication, Nio-SW (09866) rose by 16.48%, to HK$56.2; Xpeng-W (09868) rose by 13.82%, to HK$33.35; Li Auto-W (02015) rose by 9.07%, to HK$108.8; Guangzhou Automobile Group (02238) rose by 5.94%, to HK$3.03; BYD Company (01211) rose by 3.77%, to HK$286.2.

On the news front, on September 28th, Cui Dongshu, Secretary General of the China Passenger Car Association, stated at today's World New Energy Vehicle Congress that the domestic retail sales of autos are expected to reach 22.3 million units in 2024, a 3% year-on-year increase. Among them, the domestic retail sales of new energy passenger vehicles will be 10.4 million units, a 34% year-on-year increase.

Cui Dongshu also mentioned that in the midst of rapid changes in the global development of new energy autos, China plays an important role, believing that domestic autos will not be 'held back' as the domestic supply chain has a strong foundation in consumer electronics, and that the constraints of Europe and America on China are not sustainable. From a fundamental perspective, China has a strong global competitive edge.

It is worth mentioning that on September 25th, Wen Hua, Deputy Director of the Resources Conservation and Environmental Protection Department of the National Development and Reform Commission, stated at a special conference that as of September 24th, the cumulative subsidy applications approved on the national 'trade-in old for new' platform corresponded to nearly 11 billion yuan in government bond funds. At the same time, Chongqing, Beijing, Tianjin, Shanghai, Jiangsu, and 24 other regions have also introduced policy measures to support the replacement and renewal of autos, driving rapid growth in the automotive industry sales.