On June 25th, Gelunhui reported that Jianghuai Automobile's (600418.SH) passenger vehicle sales in May decreased year-on-year, while commercial vehicle sales increased. The sales of new energy passenger vehicles was 0.27 million units, a decrease of 6.0% year-on-year. In May, the company sold 20,000 commercial vehicles, a year-on-year increase of 10.4%. From January to May, the company sold 109,000 commercial vehicles, a year-on-year increase of 10.6%. On May 20th, Jianghuai celebrated its 60th anniversary and Jianghuai officially announced that it will continue to increase technology and innovation investment. They will soon launch a luxury smart new energy vehicle in collaboration with Huawei. The Jianghuai high-end new energy vehicle base, located in the Feixi Zhongpai area, will be responsible for the production of cooperated models with Huawei. Currently, the installation of the base equipment is nearing completion, and subsystem debugging and personnel recruitment are underway. Considering the company's long history and comprehensive business sectors, coupled with cooperation with Huawei, the future growth potential is significant. We maintain a "Buy" investment rating.
研报掘金丨华鑫证券：江淮汽车未来增长潜力较大，维持“买入”评级
Research report highlights: Huaxin Securities believes that Anhui Jianghuai Automobile Group Corp., Ltd. has great growth potential in the future and maintains a "buy" rating.
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