External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

Thematic (Sector/Industry)

<ul><li>We summarize the Sep 2024 leading indicators as below, including the number of leads, customer flows and new orders generated, for Tesla, NIO, Li Auto, Xpeng, BYD and Aion.</li><li>Note that such data are based on a sample size of 96 stores (15-18 stores for each brand) in 15 cities in China.</li><li>The following data reflect same-store metrics, and the metrics on a company level could be better than these figures, as most players are still expanding their sales network. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

We summarize the Sep 2024 leading indicators as below, including the number of leads, customer flows and new orders generated, for Tesla, NIO, Li Auto, Xpeng, BYD and Aion.Note that such data are based on a sample size of 96 stores (15-18 stores for each brand) in 15 cities in China.The following data reflect same-store metrics, and the metrics on a company level could be better than these figures, as most players are still expanding their sales network. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Auto - Sep NEV Leading Indicators Set the Tone for 4Q

<ul><li>We summarize the Aug 2024 leading indicators as below, including the number of leads, customer flows and new orders generated, for Tesla, NIO, Li Auto, Xpeng, BYD and Aion.</li><li>Note that such data are based on a sample size of 96 stores (15-18 stores for each brand) in 15 cities in China.</li><li>The following data reflect same-store metrics, and the metrics on a company level could be better than these figures, as most players are still expanding their sales network.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

We summarize the Aug 2024 leading indicators as below, including the number of leads, customer flows and new orders generated, for Tesla, NIO, Li Auto, Xpeng, BYD and Aion.Note that such data are based on a sample size of 96 stores (15-18 stores for each brand) in 15 cities in China.The following data reflect same-store metrics, and the metrics on a company level could be better than these figures, as most players are still expanding their sales network.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Auto - Aug Leading Indicators May Imply a Solid Sep

<ul><li>We summarize the Jul 2024 leading indicators as below, including the number of leads, customer flows and new orders generated, for Tesla, NIO, Li Auto, Xpeng, BYD and Aion.</li><li>Note that such data are based on a sample size of 96 stores (15- 18 stores for each brand) in 15 cities in China.</li><li>The following data reflect samestore metrics, and the metrics on a company level could be better than these figures, as most players are still expanding their sales network.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

We summarize the Jul 2024 leading indicators as below, including the number of leads, customer flows and new orders generated, for Tesla, NIO, Li Auto, Xpeng, BYD and Aion.Note that such data are based on a sample size of 96 stores (15- 18 stores for each brand) in 15 cities in China.The following data reflect samestore metrics, and the metrics on a company level could be better than these figures, as most players are still expanding their sales network.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Auto - Resilient Leading Indicators During Off-Peak Time

<ul><li>Chinese automakers including BYD, Great Wall, NIO, Xpeng, Li Auto, Xiaomi, Zeekr, Aion, Deepal, Leap, Neta and HIMA etc reported their Jul 2024 sales volumes on 1 Aug.</li><li>Total sales volume combined rose 33% YoY (ranging from - 22% to +950%) and remained flat MoM (ranging from -22% to +10%) in Jul.</li><li>Li Auto beat, NIO in line, Xpeng restocking. Li Auto delivered about 51,000 units (+7% MoM) in Jul, a record high, better than our prior forecast.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Chinese automakers including BYD, Great Wall, NIO, Xpeng, Li Auto, Xiaomi, Zeekr, Aion, Deepal, Leap, Neta and HIMA etc reported their Jul 2024 sales volumes on 1 Aug.Total sales volume combined rose 33% YoY (ranging from - 22% to +950%) and remained flat MoM (ranging from -22% to +10%) in Jul.Li Auto beat, NIO in line, Xpeng restocking. Li Auto delivered about 51,000 units (+7% MoM) in Jul, a record high, better than our prior forecast.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Auto - Likely First MoM Rise for Jul NEV Retail Since 2021

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of July 19th.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We highlight flows for ICBC (1398 HK), China Hongqiao (1378 HK).</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of July 19th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for ICBC (1398 HK), China Hongqiao (1378 HK).


Hong Kong Connect Flows (Jul 19th): ICBC, China Hongqiao

China

China Meidong Auto Holdings Limited is an automobile dealership and maintenance group in China.

Price Gauge
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China MeiDong Auto (1268 HK)

Auto - Sep NEV Leading Indicators Set the Tone for 4Q

We summarize the Sep 2024 leading indicators as below, including the number of leads, customer flows and new orders generated, for Tesla, NIO, Li...

CMB International

Auto - Aug Leading Indicators May Imply a Solid Sep

We summarize the Aug 2024 leading indicators as below, including the number of leads, customer flows and new orders generated, for Tesla, NIO, Li...

CMB International

Auto - Resilient Leading Indicators During Off-Peak Time

We summarize the Jul 2024 leading indicators as below, including the number of leads, customer flows and new orders generated, for Tesla, NIO, Li...

CMB International

Auto - Likely First MoM Rise for Jul NEV Retail Since 2021

Chinese automakers including BYD, Great Wall, NIO, Xpeng, Li Auto, Xiaomi, Zeekr, Aion, Deepal, Leap, Neta and HIMA etc reported their Jul 2024...

CMB International

Hong Kong Connect Flows (Jul 19th): ICBC, China Hongqiao

We analyzed southbound Hong Kong connect flows in the past week and highlight flows for ICBC (1398 HK), China Hongqiao (1378 HK).

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)