The Ministry of Finance Office has issued a notice to further clarify the government procurement ratio requirements for New energy Fund vehicles. Budget units should comprehensively determine the annual government procurement ratio for New energy Fund vehicles in their departments. If New energy Fund vehicles can meet actual usage needs, the proportion of New energy Fund vehicles in the total annual procurement of official vehicles should generally not be less than 30%. Among them, for official vehicles used for confidential communication that primarily operate in urban areas with relatively fixed routes and single use scenarios, 100% of the procurement should generally be New energy Fund vehicles. When procuring vehicles for Rental & Leasing Services, priority should be given to renting New energy Fund vehicles.

The National Development and Reform Commission stated at a November press conference that it will further research and propose future policies to increase support and expand the scope of support, making next year's follow-up policies worth looking forward to.

CITIC SEC Research Reports point out that the probability of continuing stimulus policies for the Autos Industry next year is quite high, showing signs of the industry emerging from internal competition.

The continuation of overseas prosperity, accelerated penetration of autonomous driving, and humanoid robots are expected to be the most evident industrial trends for the industry next year, which will also provide dual drives for performance and valuation in the Autos Industry.

Founder Securities Research Reports indicate attention to changes in EU electric vehicle tariffs, confirming long-term space for complete vehicle exports: considering the basic import tariff of 10% on pure electric vehicles in the EU and the increased rates, the applicable tax rates for BYD, Geely, and SAIC are 27%/28.8%/45.3% respectively. Although the existing volume is not high, if the tariff increases are canceled in the future, it will be Bullish for domestic car companies as it releases long-term market space in the EU, focusing on new growth drivers for domestic car companies exporting to Europe.

Leading electric vehicle companies in the Hong Kong stock market: XIAOMI-W (09868), LI AUTO-W (02015), NIO-SW (09866).

BYD (01211): BYD (002594) announced on the evening of December 27 that the Board of Directors agreed to authorize the company's management to establish the Market Cap Management System. On December 13, BYD's chief scientist, Lian Yubo, stated: "As of now, BYD's cumulative sales of New energy Fund vehicles have exceeded 10 million units. By the end of this month, we’re expected to achieve an annual sales volume of 4.25 million vehicles for the whole year." He also mentioned: "There are still some challenges in industrial development, such as the overall risk resistance capability of our Industry Chain needs improvement, breakthroughs are still needed in aspects like chips, operational technology, industrial Software, and core materials, and we still need to strengthen our efforts to achieve complete self-control."

XIAOMI-W (01810): Lei Jun stated on Weibo that today is December 28, and on this day last year, Xiaomi Autos officially met everyone. This year, Xiaomi Autos successfully achieved all annual goals and gained unexpectedly good results and reputation: so far, the delivery volume of the Xiaomi SU7 has exceeded 0.13 million units, and we will expand our production capacity to ensure delivery; this year, we continued to lay out the sales network, with 200 stores now open, covering 58 cities nationwide; we have always insisted on investing in core underlying technologies, with R&D investment exceeding 13 billion and over 1,000 patent authorizations. Continuous deep cultivation in areas such as intelligent driving, three electric systems, intelligent chassis, and intelligent cockpit.