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.

News from Caixin

Thematic (Sector/Industry)

<ul><li>Major Chinese manufacturers’ new-energy vehicle (NEV) sales were all over the map in March, with companies that recently released budget-friendly cars outperforming their rivals amid a raging price war across the industry.</li><li>Last month, NEV sales of BYD Co. Ltd., Guangzhou Automobile Group Co. Ltd., Li Auto Inc. and Nio Inc. grew 97.5%, 89.8%, 88.7% and 3.9% year-on-year, respectively, according to company statements.</li><li>The NEV category mainly covers pure electric and plug-in hybrid vehicles.</li></ul>

Major Chinese manufacturers’ new-energy vehicle (NEV) sales were all over the map in March, with companies that recently released budget-friendly cars outperforming their rivals amid a raging price war across the industry.Last month, NEV sales of BYD Co. Ltd., Guangzhou Automobile Group Co. Ltd., Li Auto Inc. and Nio Inc. grew 97.5%, 89.8%, 88.7% and 3.9% year-on-year, respectively, according to company statements.The NEV category mainly covers pure electric and plug-in hybrid vehicles.

China’s NEV Sales Are Both Surging and Sinking, Depending on the Company

Cross Asset Strategy

<ul>
<li>Diplomacy /Cover Story: China emerges as powerbroker on global diplomatic stage</li>
<li>France /: France and U.S. are allies with different voices, French ambassador to China says</li>
<li>Yi Gang /: China calls for ‘fair burden sharing’ to address poor countries’ sovereign debt issues</li>
</ul>


Diplomacy /Cover Story: China emerges as powerbroker on global diplomatic stage
France /: France and U.S. are allies with different voices, French ambassador to China says
Yi Gang /: China calls for ‘fair burden sharing’ to address poor countries’ sovereign debt issues


CX Daily: China Emerges As Powerbroker On Global Diplomatic Stage

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.

Equity Bottom-Up

Guangzhou Automobile Group / Equity Bottom-Up

<ul><li>GAC’s 4Q22 earnings missed our prior forecast on impairment.</li><li>The bright spot was its homegrown brands’ GPM improvement and cost reduction efforts.</li><li>We are still of the view that GAC’s valuation is attractive and it is a defensive player in a volatile market. </li></ul><p><em>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.</em></p>

GAC’s 4Q22 earnings missed our prior forecast on impairment.The bright spot was its homegrown brands’ GPM improvement and cost reduction efforts.We are still of the view that GAC’s valuation is attractive and it is a defensive player in a volatile market. 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.

GAC Group (2238 HK) – Impairment as always; eyes on Aion’s upmarket

<ul><li>Guangzhou Automobile Group Co. Ltd. (GAC) (<a href="https://www.caixinglobal.com/2023-02-21/601238.SH" target="_blank" rel="noopener">601238.SH</a> -0.51%) is working to get more domestically produced microchips into its vehicles.</li><li>It relies on overseas suppliers for about 90% of its automotive chips.</li><li>GAC Capital Co. Ltd. sees plenty of opportunity to increase the share of domestic chips in the automaker’s cars.</li></ul>

Guangzhou Automobile Group Co. Ltd. (GAC) (601238.SH -0.51%) is working to get more domestically produced microchips into its vehicles.It relies on overseas suppliers for about 90% of its automotive chips.GAC Capital Co. Ltd. sees plenty of opportunity to increase the share of domestic chips in the automaker’s cars.

Automaker GAC Seeks China-Made Chips to Ease Dependence on Foreign Suppliers

<ul><li>China-Malaysia /: Q&amp;A: Malaysia’s new trade minister explains why China matters to Southeast Asia</li><li>Security /: China spells out ‘Global Security Initiative’ for international conflict settlement</li><li>ChatGPT /: Chinese educators should embrace ChatGPT as part of reform, experts say</li></ul>

China-Malaysia /: Q&amp;A: Malaysia’s new trade minister explains why China matters to Southeast AsiaSecurity /: China spells out ‘Global Security Initiative’ for international conflict settlementChatGPT /: Chinese educators should embrace ChatGPT as part of reform, experts say

CX Daily: Malaysia’s New Trade Minister Explains Why China Matters to Southeast Asia

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)

Lifan Industry (Group) Company Limited develops, manufactures and sells motorcycles, cars and gasoline engines. The Company's major products include motorcycles, motorcycle engines, passenger cars, passenger car engines, gasoline engines and other terminal products such as generator sets, water pumps and lawn mowers.

Jiangling Motors Corp. Ltd. manufactures and sells vehicles and related components.  The Company's main products include JMC series trucks and pickups, and Transit series commercial buses.

BAIC Motor Corporation Limited designs, researches, develops, manufactures and sells a variety of passenger vehicles in China.

Dongfeng Motor Group Company Limited, through joint ventures, designs, manufactures, and markets diesel engines, light trucks, automobiles, castings, and related spare parts.

China Automotive Engineering Research Institute Company Limited develops, manufactures and sells automotive products, provides consulting, automotive testing and evaluation services. The Company's main products include dump trucks, concrete mixer trucks, and sanitation trucks.

China Automotive Engg Rsrch Inst (601965 CH)

Beiqi Foton Motor Co., Ltd. manufactures and markets automobiles and parts. The Company produces light trucks, medium trucks, heavy trucks, passenger cars, and engine parts. Beiqi Foton Motor also conducts automotive wholesale businesses domestically and internationally.

China Jialing Industrial Co., Ltd. Group manufactures and sells motorcycles and related engines.

China Jialing Industrial Co Ltd (Group) (600877 CH)

Dongfeng Automobile Co., Ltd. designs, manufactures, and markets diesel engines, light trucks, castings, and related spare parts.

Tianjin FAW Xiali Automobile Co., Ltd. manufactures and markets cars, gasoline engines, internal combustion engines, and other automobile parts.

Tianjin Faw Xiali Automobile Co, Ltd. (000927 CH)

MITSUBISHI MOTORS CORPORATION develops and manufactures passenger cars and its related parts.  The Company has production facilities in Japan, the US, and Thailand.  Mitsubishi Motors Corp provides vehicle-related financing and leasing service through its subsidiary.

Harley-Davidson, Inc. designs, manufactures, and sells motorcycles.  The Company's products include heavyweight touring, custom, and performance motorcycles, as well as a line of motorcycle parts, accessories, and general merchandise.  Harley-Davidson also provides motorcycle floor planning and parts and accessories financing to its North American and European dealers.

Yadea Group is a leading electric two wheeler brand in China. The company produces electric bikes and scooters.

Tofas Turk Otomobil Fabrikasi AS manufactures cars and automobile parts under license from Fiat.  The Group also imports Alfa Romeo and Fiat cars for domestic market and provides financing services.

Brilliance China Automotive Holdings Limited, through its subsidiaries, manufactures and distributes minibuses and sedans in the People's Republic of China.  The Company also manufactures and trades automotive components.

China Motor Corporation manufactures and markets trucks, vans, cars, and related parts and accessories.  The Company also has joint venture operations with Mitsubishi.

Sanyang Motor Co., Ltd. manufactures and markets automobiles, motorcycles, and parts. The Company also provides related technical and consulting services.

Thor Industries, Inc. produces and sells a wide range of recreation vehicles.  The Company markets its products through independent dealers located throughout the United States and Canada.  Thor's products are sold under the Airstream Classic, Dutchmen, Skamper, Infinity, Four Winds, Citation, Signature, and other names.

Yulon Motor Co., Ltd. designs, manufactures, and sells motor vehicles and parts. The Company produces automobiles and trucks in a joint venture with Nissan Motor Company and operates dealerships throughout Taiwan.

Mazda Motor Corporation manufactures and sells automobiles, trucks, auto parts, and its accessories.  The Company operates its business worldwide.

Guangzhou Automobile Group Company, Ltd. manufactures, sells, and services automobiles. The Company is also involved in automobile parts and components, and auto finance and related services for both overseas and domestic markets.

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Guangzhou Automobile Group (2238 HK)

China’s NEV Sales Are Both Surging and Sinking, Depending on the Company

Major Chinese manufacturers’ new-energy vehicle (NEV) sales were all over the map in March, with companies that recently released budget-friendly...

Caixin Global

CX Daily: China Emerges As Powerbroker On Global Diplomatic Stage

Diplomacy / Cover Story: China emerges as powerbroker on global diplomatic stage France / France and U.S. are allies with different voices, French...

Caixin Global

GAC Group (2238 HK) – Impairment as always; eyes on Aion’s upmarket

GAC’s 4Q22 earnings missed our prior forecast on impairment. The bright spot was its homegrown brands’ GPM improvement and cost reduction efforts.

CMB International

Automaker GAC Seeks China-Made Chips to Ease Dependence on Foreign Suppliers

Guangzhou Automobile Group Co. Ltd. (GAC) (601238.SH -0.51%) is working to get more domestically produced microchips into its vehicles. It relies...

Caixin Global

CX Daily: Malaysia’s New Trade Minister Explains Why China Matters to Southeast Asia

China-Malaysia /: Q&A: Malaysia’s new trade minister explains why China matters to Southeast Asia Security /: China spells out ‘Global...

Caixin Global

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