In today’s briefing:
- Major Chinese EV-Makers Have Record Month for Sales
- Weekly Wrap – 04 Oct 2024
- [Miniso (MNSO US, SELL, TP US$18) Rating Change]: We Took Our Stand on Yonghui Acquisition…DG2SELL
Major Chinese EV-Makers Have Record Month for Sales
- China’s key electric-vehicle (EV) makers set monthly delivery records in September as government subsidies and price cuts gave sales in the fiercely competitive industry a boost.
- BYD Co. Ltd. (002594.SZ +8.21%), the country’s top EV-maker, sold 419,426 vehicles in September, according to an exchange filing Tuesday.
- The figure, which consisted of 164,956 battery EVs and 252,647 plug-in hybrids, marked a 45.9% year-on-year increase and a new monthly sales record.
Weekly Wrap – 04 Oct 2024
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:
and more…
[Miniso (MNSO US, SELL, TP US$18) Rating Change]: We Took Our Stand on Yonghui Acquisition…DG2SELL
- Despite the drastic bull turn in Chinese equity sending MNSO’s share 41% from its trough, we see MNSO’s investment in Yonghui Superstores as a risk venture.
- We believe the market has overestimated the scalability of the Pangdonglai rectification program for offline retail.
- We downgrade the stock to SELL rating and cut TP to US$18/ADS
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