Changes in Hong Kong stocks | Most auto stocks fell, Chery Auto (09973) fell by more than 4%, and the overall profit of the industry was under pressure due to multiple factors

The Zhitong Finance App learned that most auto stocks were lower. As of press release, Chery Auto (09973) fell 4.04% to HK$23.26; Xiaopeng Group-W (09868) fell 3.84% to HK$37.6; Great Wall Motor (02333) fell 2.51% to HK$7.2; Ideal Automobile-W (02015) fell 2.32% to HK$44.68.

According to the news, Orient Securities pointed out that the overall profit and gross margin performance of automobile companies was weak due to external factors such as pressure on domestic automobile demand, increased market competition, and exchange rate fluctuations in the second quarter, but after excluding the impact of exchange, some companies with strong overall competitiveness and high management efficiency still achieved year-on-year improvements in net profit and gross margin; it is expected that continued export growth and marginal weakening of exchange influence in the second half of the year will promote marginal improvements in the performance of some companies with strong competitive strength.

Dongwu Securities, on the other hand, said that in the short term, due to the impact of the base figure, the bank expects the year-on-year decline in domestic demand for passenger cars to narrow starting in the second half of this year. Looking at the annual dimension: domestic selection resists fluctuation+export selection certainty. Domestic attention is paid to individual stocks in the high-end electrification circuit that are not sensitive to policy disturbances, and high-end car companies that are expected to expand; priority is given to leading car companies with mature overseas systems and proven execution capabilities on the main export line.