Plate changes| overseas sales of Chinese car companies will continue to increase The automotive vehicle sector will rise higher

Zhitong Finance APP was informed that on December 21, affected by the news that the overseas sales of Chinese car companies will continue to increase in the future, the A-share automobile sector has risen higher, as of press time, Yaxing Bus (600213.SH) has risen and stopped, Zhongtong Bus (000957.SZ), Jinlong Automobile (600686.SH), Ankai Bus (000868.SZ), Xiaokang Shares (601127.SH) and other stocks have risen.

CITIC Securities Research Report pointed out: According to the statistics of the China Automobile Association, the annual export of Chinese automobiles in 2019/2020 was 1.02 million units/990,000 units, +1.6% /-2.8% year-on-year, and from January to November 2021, automobile companies exported 1.793 million vehicles, +110% year-on-year, of which the proportion of pure electric vehicle models rose from 4.7% in 2020 to 24.3% in 2021Q4 (mainly Tesla Model 3). In the future, as Chinese companies pass the European high-standard WVTA (full name Whole Vehicle Type Approval) certification (for the EU full model type certification), it is expected that Chinese car companies will also accelerate the global process of going to sea, since 2020, more and more brands and models in China are accelerating to the sea, traditional car companies such as the Great Wall, BYD, new forces car companies such as Xiaopeng, Weilai, etc. have achieved going to sea with their high-quality products, opening up new space for growth. Automobile electrification will transform the drive system from the traditional "engine + gearbox" to "battery + motor + electronic control", the supply chain has shifted from closed to open, and China's electrification supply chain has achieved going to sea with cost advantages. In the future, intelligence will become the winner and loser of the industry competition, and Chinese car companies are expected to continue to expand their leading edges for overseas car companies by virtue of their first-mover advantage and rapid iteration, laying a solid foundation for overseas market expansion. Chinese car companies such as BYD, Great Wall, Weilai, Xiaopeng, etc. have begun to export overseas, and it is expected that the overseas sales of Chinese car companies will continue to increase in the future, realizing the qualitative change of China's auto industry from "supply chain to sea" to "vehicle to sea".