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.

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<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

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

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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

<ul><li>China granted a six-month grace period for carmakers and dealers to sell off as many as 2 million new vehicles that will be out of compliance with new emission standards taking effect July 1.</li><li>The move is intended to ease pressure on the auto market amid slowing sales and a brutal price war.</li><li>The government said it will allow sales of vehicles produced under the old pollution standards to continue until Dec. 31, though automakers will have to apply more stringent requirements to newly built autos starting July 1.</li></ul>

China granted a six-month grace period for carmakers and dealers to sell off as many as 2 million new vehicles that will be out of compliance with new emission standards taking effect July 1.The move is intended to ease pressure on the auto market amid slowing sales and a brutal price war.The government said it will allow sales of vehicles produced under the old pollution standards to continue until Dec. 31, though automakers will have to apply more stringent requirements to newly built autos starting July 1.

China Cuts Automakers a Break on New Emission Rules

China

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

Chongqing Changan Automobile C (000625 CH)

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Chongqing Changan Automobile C (000625 CH)

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

China Cuts Automakers a Break on New Emission Rules

China granted a six-month grace period for carmakers and dealers to sell off as many as 2 million new vehicles that will be out of compliance with...

Caixin Global

Price Gauge

52-week Range

Market Cap (USDm)

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