China Specialist, Auto and Industrial Specialist

Victoria Li

Thematic (Sector/Industry)

<ul>
<li>China's overall auto retail sales remained week in November due to limit car storage in dealers (less supply), less promotions and interruptions from regional Covid lockdown/restrictions</li>
<li>Xpeng ranked No.1 among EV brands by delivering 15,613 new cars in November. P5 delivery is ramming up.</li>
<li>Zeekr 001 delivered 2,012 new cars in November, in line with latest market expectation.</li>
</ul>


China's overall auto retail sales remained week in November due to limit car storage in dealers (less supply), less promotions and interruptions from regional Covid lockdown/restrictions
Xpeng ranked No.1 among EV brands by delivering 15,613 new cars in November. P5 delivery is ramming up.
Zeekr 001 delivered 2,012 new cars in November, in line with latest market expectation.


Senior Credit Analyst, Lucror Analytics

Leonard Law, CFA

Senior Credit Analyst

High Yield Experts

Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

Recognizing the importance and value-add of Factor Investing in fixed income, Lucror developed the Smart Quant Navigator (SQN), an intuitive platform that helps clients devise and implement factor-based strategies ranging from pure quant to active fundamental, with integrated ESG.

Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

Credit

In this month’s "In-Focus" section, we provide an update on the gaming industry in Macau. We discuss the impact of pandemic-related border restrictions on the industry, and our forecast for the coming years. We also provide an overview of recent bond defaults. The Asia Monthly focuses on providing updates on recent events, information on new issues and spread movements, as well as summarising our top picks, and discussing specific areas of interest in the "In-Focus" section. The Asia Monthly is intended to broaden investors' understanding of the Asian USD high-yield market.

  In this month’s "In-Focus" section, we provide an update on the gaming industry in Macau. We discuss the impact of pandemic-related border restrictions on the industry, and our forecast for the coming years. We also provide an overview of recent bond defaults.   The Asia Monthly focuses on providing updates on recent events, information on new issues and spread movements, as well as summarising our top picks, and discussing specific areas of interest in the "In-Focus" section. The Asia Monthly is intended to broaden investors' understanding of the Asian USD high-yield market. 

Asia HY Monthly - Macau Gaming Update - Lucror Analytics

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.In this Insight:<ol><li><a href='/entities/tata-motors-ltd' target='_blank' rel='noopener'>Tata Motors Ltd</a></li><li><a href='/entities/anton-oilfield-services-gp' target='_blank' rel='noopener'>Anton Oilfield</a></li><li><a href='/entities/china-south-city-holdings' target='_blank' rel='noopener'>China South City</a></li><li><a href='/entities/panda-green-energy-group-ltd' target='_blank' rel='noopener'>Panda Green</a></li><li><a href='/entities/gcl-new-energy-holdings-ltd' target='_blank' rel='noopener'>Gcl New Energy Holdings</a></li></ol>and more...

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.In this Insight:Tata Motors LtdAnton OilfieldChina South CityPanda GreenGcl New Energy Holdingsand more...

Equity Bottom-Up

<ul>
<li>Zeekr 001 production has been affected by insufficient supply of a certain components. The market is reducing its expectation on Nov delivery to around 2,000 cars.</li>
<li>On Guangzhou Auto Show(19th-28th Nov), we saw more new EVs would be launched in the coming year. BEV market competition is getting fierce.</li>
<li>Among to-be-launched new EVs, only Xpeng G9 might dilute market interest on Zeekr 001. However Zeekr 001 should have enough time to build up market reputation before it happens.</li>
</ul>


Zeekr 001 production has been affected by insufficient supply of a certain components. The market is reducing its expectation on Nov delivery to around 2,000 cars.
On Guangzhou Auto Show(19th-28th Nov), we saw more new EVs would be launched in the coming year. BEV market competition is getting fierce.
Among to-be-launched new EVs, only Xpeng G9 might dilute market interest on Zeekr 001. However Zeekr 001 should have enough time to build up market reputation before it happens.


Geely: Challenges from New EVs Are Limited

Hong Kong

Geely Automobile Holdings Limited operates as a passenger vehicles manufacturing company. The Company provides passenger vehicles development, manufacturing, sales, and other services. Geely Automobile Holdings also exports passenger vehicles.

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Geely Auto (175 HK)

China Auto: Another Weak Month

China's overall auto retail sales remained week in November due to limit car storage in dealers (less supply), less promotions and interruptions...

Victoria Li

Asia HY Monthly - Macau Gaming Update - Lucror Analytics

In this month’s "In-Focus" section, we provide an update on the gaming industry in Macau. We discuss the impact of pandemic-related border...

Lucror Analytics

Weekly Wrap - 26 Nov 2021

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and...

Lucror Analytics

Geely: Challenges from New EVs Are Limited

Zeekr 001 production has been affected by insufficient supply of a certain components. The market is reducing its expectation on Nov delivery to...

Victoria Li

Weekly Wrap - 21 Nov 2021

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and...

Lucror Analytics

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