Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

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<ul><li>A new electric car powered by Huawei’s autonomous driving technology has hit the market with a bang, attracting tens of thousands of orders in less than a month and giving the telecom-equipment giant a confidence boost as it pushes further into China’s highly competitive auto market.</li><li>As of Friday, more than 50,000 orders have been placed for the upgraded version of the Aito M7 SUV since it was <a href="https://www.caixinglobal.com/2023-09-12/huawei-tech-powered-ev-brand-rolls-out-upgraded-luxury-suv-102103057.html" target="_blank" rel="noopener">launched on Sept. 12</a>, said Richard Yu, chairman of Huawei’s smart car unit, in a social media post Saturday.</li><li>For each order, customers paid a non-refundable deposit of 5,000 yuan ($695), according to information provided by Aito — a premium electric-vehicle (EV) brand co-developed by Huawei Technologies Co. Ltd. and automaker Seres Group Co. Ltd.</li></ul>

A new electric car powered by Huawei’s autonomous driving technology has hit the market with a bang, attracting tens of thousands of orders in less than a month and giving the telecom-equipment giant a confidence boost as it pushes further into China’s highly competitive auto market.As of Friday, more than 50,000 orders have been placed for the upgraded version of the Aito M7 SUV since it was launched on Sept. 12, said Richard Yu, chairman of Huawei’s smart car unit, in a social media post Saturday.For each order, customers paid a non-refundable deposit of 5,000 yuan ($695), according to information provided by Aito — a premium electric-vehicle (EV) brand co-developed by Huawei Technologies Co. Ltd. and automaker Seres Group Co. Ltd.

New Huawei Tech-Powered Electric Car Launches With a Bang

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>China’s passenger-vehicle (PV) retail sales volume fell 0.4% YoY and 10% MoM in Jul 2023 amid high base, 2% higher than our prior forecast.</li><li>YTD retail sales volume rose 4% YoY. Wholesale volume fell 3% YoY and 7% MoM to 2.10mn units in Jul 2023, the second highest Jul in history, and 2% higher than our prior forecast.</li><li>Wholesale volume rose 7% YoY (or +0.84mn units YoY) YTD, aided by 78% YoY growth (or +0.92mn units YoY) of exports. </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.

China’s passenger-vehicle (PV) retail sales volume fell 0.4% YoY and 10% MoM in Jul 2023 amid high base, 2% higher than our prior forecast.YTD retail sales volume rose 4% YoY. Wholesale volume fell 3% YoY and 7% MoM to 2.10mn units in Jul 2023, the second highest Jul in history, and 2% higher than our prior forecast.Wholesale volume rose 7% YoY (or +0.84mn units YoY) YTD, aided by 78% YoY growth (or +0.92mn units YoY) of exports. 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.

China Auto Sector – 2H23 Auto Sales Could Beat Amid Resilient Jul, Aug

Cross Asset Strategy

<ul><li>Autos /<a href="https://www.caixinglobal.com/2023-08-23/in-depth-chinas-auto-exports-belie-roadblocks-to-conquering-europe-us-102095963.html" target="_blank" rel="noopener">In Depth: China’s auto exports belie roadblocks to conquering Europe, U.S.</a></li><li>China-South Africa /: Xi calls for more cooperation between China and South Africa</li><li>Schroders /: Schroders China unit seeks approval for first mutual fund</li></ul>

Autos /In Depth: China’s auto exports belie roadblocks to conquering Europe, U.S.China-South Africa /: Xi calls for more cooperation between China and South AfricaSchroders /: Schroders China unit seeks approval for first mutual fund

CX Daily: China’s Auto Exports Belie Roadblocks to Conquering Europe, U.S.

Schools /In Depth: Why some kids in China can’t play during recessYuan /: Argentina taps China currency swap line to help repay IMF loanPMI /: China’s services sector maintains recovery, Caixin PMI shows

Schools /In Depth: Why some kids in China can’t play during recessYuan /: Argentina taps China currency swap line to help repay IMF loanPMI /: China’s services sector maintains recovery, Caixin PMI shows

CX Daily: Why Some Kids in China Can’t Play During Recess

<ul><li>Chongqing Changan Automobile Co. Ltd. plans to speed up the electrification of two of its joint ventures with foreign carmakers, as China’s homegrown electric-vehicle brands increasingly gain market share from fossil fuel-powered car companies.</li><li>The change in the industry was laid bare at last month’s Shanghai Auto Show, where the booths of Chinese brands were flooded with visitors.</li><li>A decade ago, cars built by China’s numerous international JVs would typically be center stage at such exhibitions.</li></ul>

Chongqing Changan Automobile Co. Ltd. plans to speed up the electrification of two of its joint ventures with foreign carmakers, as China’s homegrown electric-vehicle brands increasingly gain market share from fossil fuel-powered car companies.The change in the industry was laid bare at last month’s Shanghai Auto Show, where the booths of Chinese brands were flooded with visitors.A decade ago, cars built by China’s numerous international JVs would typically be center stage at such exhibitions.

Changan JVs Plan to Accelerate EV Transition as Conventional Cars Lose Position

China

Chongqing Changan Automobile Company Limited develops, manufactures, and markets mini cars, mini sedans, full size sedans, and engines.

Chongqing Changan Automobile Company (200625 CH)

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Chongqing Changan Automobile Company (200625 CH)

New Huawei Tech-Powered Electric Car Launches With a Bang

A new electric car powered by Huawei’s autonomous driving technology has hit the market with a bang, attracting tens of thousands of orders in...

Caixin Global

China Auto Sector – 2H23 Auto Sales Could Beat Amid Resilient Jul, Aug

China’s passenger-vehicle (PV) retail sales volume fell 0.4% YoY and 10% MoM in Jul 2023 amid high base, 2% higher than our prior forecast.

CMB International

CX Daily: China’s Auto Exports Belie Roadblocks to Conquering Europe, U.S.

Autos /In Depth: China’s auto exports belie roadblocks to conquering Europe, U.S. China-South Africa /: Xi calls for more cooperation between...

Caixin Global

CX Daily: Why Some Kids in China Can’t Play During Recess

Schools /In Depth: Why some kids in China can’t play during recess Yuan /: Argentina taps China currency swap line to help repay IMF loan PMI /:...

Caixin Global

Changan JVs Plan to Accelerate EV Transition as Conventional Cars Lose Position

Chongqing Changan Automobile Co. Ltd. plans to speed up the electrification of two of its joint ventures with foreign carmakers, as China’s...

Caixin Global

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