中銀國際亦指，受惠於有利的刺激政策、持續修復的消費者信心、牛市財富效應的顯現，預計中國車市將在第四季度延續旺季特徵，並有望實現超預期增長。中期而言，該行看好小米、理想汽車及福耀玻璃(03606.HK)。該行亦建議關注蔚來汽車及吉利汽車(00175.HK)。(js/w)CICC International released research reports indicating that in September this year, the sales volume of major electric vehicle companies showed monthly growth. Among them, BYD Company Limited (01211.HK) set a record for the first time with over 0.4 million units sold; Li Auto Inc-W (02015.HK) reached a historical high of 0.0537 million units; Xpeng-W (09868.HK) benefited from the significant contribution of its 'MONA M03' model, with deliveries exceeding 0.02 million units.
CICC International forecasts that Xiaomi-W (01810.HK) could achieve a new record sales volume of 0.015 million to 0.016 million units in September, with weekly deliveries reaching 6,000 to 7,000 units by the end of September. Considering the faster-than-expected pace of capacity release, the bank expects Xiaomi's full-year delivery volume to reach 0.13 million units or higher, exceeding previous expectations.
The bank mentioned that although NIO Inc-SW (09866.HK) saw slightly lower month-on-month sales growth in September compared to its peers, it is expected that with subsequent capacity releases, its 'LOUTUO' brand is likely to drive overall delivery volumes higher than expected.
CICC International also pointed out that due to favorable stimulus policies, sustained recovery of consumer confidence, and the emergence of a bullish wealth effect, the Chinese auto market is expected to continue the peak season characteristics in the fourth quarter and achieve better-than-expected growth. Medium-term wise, the bank is bullish on Xiaomi, Li Auto Inc, and Fuyao Glass (03606.HK). The bank also recommends keeping an eye on NIO Inc and Geely Auto (00175.HK).
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